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SunTrust & BB&T to merge; $66B deal
Posted on 2/7/19 at 8:43 am
Posted on 2/7/19 at 8:43 am
5
Posted on 2/7/19 at 9:56 am to GeorgeReymond
We've been waiting for the bank M&A activity to pick back up.
Here we go.
I'm still very curious to see if Iberia Bank or Hancock Whitney get bought up at some point. I long though Wells Fargo was going to buy out Hancock Whitney but with Wells recent issues I don't see that anytime soon.
Here we go.
I'm still very curious to see if Iberia Bank or Hancock Whitney get bought up at some point. I long though Wells Fargo was going to buy out Hancock Whitney but with Wells recent issues I don't see that anytime soon.
Posted on 2/7/19 at 10:23 am to GeorgeReymond
I remember when Wachovia bought SouthTrust and then Wells Fargo bought Wachovia.
This consolidation isn't a good thing. What's the end game here? 1 national bank? no competition?
This consolidation isn't a good thing. What's the end game here? 1 national bank? no competition?
Posted on 2/7/19 at 11:30 am to PEPE
I agree that it’s typically not a good thing but I understand the reasoning
For example, Suntrust & BB&T have approx 750 branches within 2 miles of each other
For example, Suntrust & BB&T have approx 750 branches within 2 miles of each other
Posted on 2/7/19 at 11:38 am to PEPE
quote:
What's the end game here?
Easiest path to deposit growth.
Also... regulations are easier to deal with when you can spread the costs across a larger base.
Posted on 2/7/19 at 1:28 pm to LSUFanHouston
quote:
What's the end game here?
quote:
Easiest path to deposit growth.
True and to add on, the cost of retail banking (branches) is incredibly costly with foot traffic declining at a rapid pace.
Great way for the companies to combine deposit base while reducing half of their branches without the large potential for runoff due to underserved market area.
Posted on 2/7/19 at 2:19 pm to catfish 62
quote:
True and to add on, the cost of retail banking (branches) is incredibly costly with foot traffic declining at a rapid pace.
Great way for the companies to combine deposit base while reducing half of their branches without the large potential for runoff due to underserved market area.
Just thinking of how I see things at the bank...
The amount of foot traffic would not decrease. However, over time, the number of employees in each branch has decreased, meaning that the physical space in a branch office isn't being fully utilized.
I feel like they could close some branches, and redeploy the employees out to the remaining locations. Would result in more employees and more foot traffic per remaining location, but I think it's not past capacity.
Then, if the bank can sell off the closed branch buildings, that's some one time cash that can help pay for the one-time expenses of the merger.
Posted on 2/7/19 at 2:21 pm to PEPE
quote:
This consolidation isn't a good thing. What's the end game here? 1 national bank? no competition?
It seems to be working just fine. Fees keep going down/disappearing and banks seems generally more accommodating than ever IMHO.
Posted on 2/7/19 at 2:34 pm to PEPE
You have growth in online banks so I don’t think you need to fear competition. Yes it’s not banking relationships of old... but that’s not what the majority of people want.
Posted on 2/7/19 at 4:43 pm to GeorgeReymond
Huge news. Very solid southeast / east coast overlap and will create a monster commercial bank. Big question is whether they will build out a bigger and better investment banking unit to capitalize on all their lending relationships. I imagine they will.
This post was edited on 2/7/19 at 4:43 pm
Posted on 2/7/19 at 5:10 pm to Enfuego
Very interesting indeed. I also expect Iberia or Hancock-Whitney to get acquired. Maybe even a Regions?
Posted on 2/8/19 at 7:26 am to GeorgeReymond
quote:
For example, Suntrust & BB&T have approx 750 branches within 2 miles of each other
So, what you’re saying is a bunch of folks are about to be unemployed?
Posted on 2/8/19 at 3:35 pm to GeorgeReymond
quote:
SunTrust & BB&T to merge
I just hope they don't screw up Lightstream.
Usually the best rates in the industry for auto loans and they're unsecured. And if they don't have the best rate, they'll match it and beat it. Unsecured.
You have to have great credit to be approved, but this in my opinion is incredible. Loans are funded the very next day a person is approved, which takes less than a couple of hours.
Posted on 2/9/19 at 6:32 am to Will Cover
Curious about what they do with their IB. I have a good friend at their shop in ATL and from what he told me, they're staying put (and not moving to Charlotte)
Posted on 2/9/19 at 10:56 am to Azazello
How about regions bank
Posted on 2/9/19 at 11:17 am to GeorgeReymond
Is the Braves stadium going to be called different?
Posted on 2/9/19 at 11:43 am to Azazello
quote:
Curious about what they do with their IB. I have a good friend at their shop in ATL and from what he told me, they're staying put (and not moving to Charlotte)
Why would they move to Charlotte? BB&T is based out of Winston-Salem and their investment bank is headquartered in Richmond.
The more interesting question is what they do with SunTrust's equity research department. BBT completely shed theirs around 4 years ago but kept their IB, using their balance sheet and distribution to get on transactions instead of research.
Posted on 2/9/19 at 11:50 am to whodatigahbait
quote:An even more interesting question is where will the secret formula for Coca-Cola be kept?
The more interesting question is what they do with SunTrust's equity research department.
SunTrust has been the official custodian of the formula for decades and has it stored in its vault.
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