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  • prognosticatorchief prognosticatorchief Jul 6, 2000 5:01 PM Flag

    trading day

    My crystal ball was clouded up all afternoon. All
    I could distinguish was get activity was taking
    I was very disappointed that the price did not
    move up to the $30 range. With a volume 6 times the
    normal daily volume, and good news, the price should
    have approached $30/share. Maybe tomorrow.

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    • Daniel Dunaief discussed banks on today.
      BBT, might be interested in bidding
      for CBC, if it sold itself

    • look at the 10K, BB&T has been increasing
      reserves and non-performing coverage. What this means is;
      assets are increasing, some of the new partners may have
      a lower reserve % than BB&T, and we're deep into
      the business cycle. There are no early warning
      signals from BB&T. BB&T is increasing the provision taken
      fron quarterly earnings for potential future losses,
      Wachovia was lowering the provision to prop up earnings
      and the analysts recognized it.


      • 1 Reply to BBTFan
      • (Yeah, I know - he finaly agreed with me for
        twice, but I still think his observation is valid.) An
        earlier poster made a good point as well - BBT seems to
        build in a healthy loan loss as part of the purchase
        price of the banks bought. I was told they can do this
        by having the purchased bank write off any poor
        performing loans before the merger. It makes the premium
        over book higher since the actual Net Worth of the
        bank being bought is lower, but they can take this as
        a charge to earnings over a long period of time
        instead of in one year. I'm told that most banks (or
        other companies I suppose) do the same thing or
        something similer. Apparently, Centura screwed up and
        didn't catch all the crap that Triangle apparently had
        on the books until after the merger and had to take
        the hit all this year.

        Fan - have I got this
        right? Sounds logical to me and smart, but I suppose it
        does hurt future earnings to some extent. I think I
        also heard that the end of pooling may affect this
        technique going forward.

        Course, Wachovia doesn't
        have this excuse - just made some dumb loans. My, how
        the mighty have fallen.

        BTW, is BBT bigger
        than WB now??

        BTW2 - trading in mortgage backed
        bonds appeared to fuel the volume, but I'll be darned
        if I understand why. Maybe somebody else can fill us
        in if that was the real reason.

        Havn't heard
        from Doc JJ - I fear the worst. Doc - if you're out
        there - check in.



36.79-0.09(-0.24%)4:02 PMEDT