BB&T has been on a tear in buying more banks and expanding their reach. It looks like they are moving from a large regional bank like Regions into a national bank with branches in almost every state. It will take time to expand that far but it looks like it could be sooner rather than later. They just purchased branches in Texas, Northern Kentucky, and now today banks in Pennsylvania, Maryland, West Virginia, and New Jersey. Will other banks also try to expand into new areas is a good question. Does this mean that more banks are ready to grow. BB&T's Kelly King is always talking about changing and growing is the one thing that will make BB&T better. He has certainly promoted this idea and shown how well it works with expanding into new regions. It's the largest acquisition in the banking sector since the financial crisis. Buying other banks and branches is the best way for banks to expand into new areas.
I'm going to bet that other banks will also try to expand. Could be a good sign for banks and financial institutions if more M&A occurs. Might be a time to get in and they are undervalued and underperforming because of government regulation and suits against them.
Disclosure: I work for BB&T
No comments:
Post a Comment