John Allison
John Allison
affected encouraged given good negatively number positive quarter reflect results start
Given that our first quarter is usually negatively affected by a number of seasonal factors, I am encouraged that these positive results reflect a very good start to 2006.
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The word got out that this is a nice tournament. People know they're treated in fine fashion when they come down, and it's good competition.
Boy, I feel bad, ... There's so much I want to show you.
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We happen to believe in the fundamental concept of individual rights, and one of those is property rights. If that is jeopardized, our entire financial system is also in jeopardy.
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We continue to look, but the problem is the market price. There are companies interested in selling, but they have such high expectations that when you run the numbers, you can't match the market price in many cases. It doesn't make any economic sense to me.
acquiring banks community grown internal largely last looking mergers near needed operations organic period revenue short successful time year
BB&T over the years largely has grown through the merger-and- acquisition process, acquiring community banks and thrifts, and that's been successful on our part. Over the last year we've had a little of this indigestion from a lot of mergers over a short period. We needed to take a little breather to refocus on organic revenue growth, and we think we're near that period of time where our internal operations are where we want, so we're looking at getting back into the (M&A) business.
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Ninety percent of our stuff is there. We were planning to sell this house as quick as we can and move there, and now we understand, the best reports we're getting that our house there is underwater.
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One of the most basic rights of every citizen is to keep what they own. As an institution dedicated to helping our clients achieve economic success and financial security, we won't help any entity or company that would undermine that mission and threaten the hard-earned American dream of property ownership.
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We knew that deposits were profitable, but we didn't realize quite how profitable they were. We also have gone to free checking and other free lots of stuff to match up better with the market in terms of pricing.
concerned evidence pockets state takes time work
It takes a long time to work through them and get enough evidence to do what we need to do. There (are) some pockets of the state that we're concerned with.
personal system value
The value system we have at BB&T is also my personal value system.
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We grew up competing with much larger institutions. They are very good at what they do and we knew that we couldn't beat them at their game.
lull pick somewhat
We are at somewhat of a lull in consolidation, but I think that will pick up again,
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I think the market needs to believe that interest rates have peaked, and secondly, that we are not going to have a recession at that point.