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Author: mfiokoel One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 272  
Subject: OV and BBT Date: 4/13/1999 9:50 AM
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I got this article from Bloomberg. Here is a summary:

It's not a matter of if, But when BB&T Corp will acquire One Valley Bank, according to analysts, who said the bank holding companies complement each other in geography and style.

An acquisition of OV would give BBT access slao to desirable West Virginia markets. OV is the largest bank based in WV with 6 billon in assets. "There are attractive markets in WV" saidf one analyst who asked not to be named. "OV is in them. And clearly BBT would like o have a presence in them"

Performance, as well, spawns merger speculation among some industry observers. Like BBT, OV is a well run community bank. It reported 4Q net income of 19.5 million, or 55cents a share which was 39.3% increase earned a year ago!

"John Allison (BBT Chief Executive) has said he want to grow into WV" said another bank analyst who asked not to be identified.

"The acquisition of OV would help BBT in two ways" said Ed Najarian (Bank analyst with First Union Capital Markets). It's the biggest. It would give BBT critical mass. Secondly, OV has a significant brance presence in western VA. So it's a way for BBT to not only become a large WV bank but a larger VA bank as well" "OV is their kind of compnay: Clean Credit quality, strong brance presence" "The think that BBT could bring is a strong brance sales culture. I think BBT thinks, give us that franchise and we can really kick it into gear from a revenue-generating standpoint."

"If BBT could, they'd open their checkbook tomorrow and buy OV" said one analyst. "Frankly, it's a matter of time."



Well, I have been telling everyone to buy OV from the 30 range and now we are almost up to 37. OVER 20%!!!!!
That is better then any index average this year! I hope you took my words to heart. BUY OV!
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