It feels like it's going down fast. A year? Two? You don't grow a business by getting rid of everyone and losing all of your top talent.
17 replies (most recent on top)
US Bank is a viable merger candidate. They won’t be fleeced by Rogers and his minions like Kelly was. The problem will be the Feds. No way with Dems controlling things would a merger of this size happen in banking, NFW!
Andy Cecere, from U.S. Bank, was in Charlotte yesterday. U.S. Bank and Truist have very little overlapping footprints. I think merger talks are happening. Will the they come to fruition is another matter.
Seems like a Canadian bank may be a good fit to buy Truist. Scotia Bank has a new ceo that wants to expand into the US. He’s pretty open about it. There would be some major headaches with investment banking and brokerage that need to be divested but the sale of insurance is a big step in that direction. Lots of Canadians winter in the southeast, plenty of synergies for them in these markets and gives them a cheap us footprint.
I have a secret for you guys, no one is interested in buying a southern bank except another southern bank
Won’t be long and anyone who buys this place will get rid of the pension first thing - run as fast as you can that way you won’t have to spend all day in this site
They got a wad of cash from the sale of insurance. And they will likely burn through it as fast as they got it.
What a buyer gain with a purchase of Truist? Getting the current client base for free. Truist is selling all the main incomes sources to pay dividends and raise capital. TRUIST is not a threat in technology or IB. The regulatory headaches for a PNC would not be worth the purchase price. Truist will remain a boring sub tier bank with no real market advantages
The sale of TIH along with the massive outsourcing screams sale/merger.
Bill isn't capable of running a bank successfully. But he can run it badly enough to lean it out for a sale. He conned BB&T into it and now he is up to his old trick.
Billy is a one trick pony, he is too stupid to know more than one.
This doesn't get enough attention.
Fu--ing clown show at the top of the house. Bring in some real leaders!
Underrated post. Most are in denial thinking this is not already in the works.
I’d like to see a purposeful purple t-shirt that reads: Sh*t Can Billy Bob! Guy is an absolute clown.
We're not going anywhere, No one is going to buy this bank and a merger is not going to create a big bank because PNC, US Bank and Truist would have to merge and this merger of 3 would be a distant 5th behind Wells and have a weird footprint.
Th IQ in NC and Atlanta must be real low to think that Truist, PNC, or US Bank matter to people outside of the regions they operate in.
Not the sixth largest anymore Sparky, now number eight. You must be one of SunTruist finest!
Possible sale is not going to happen for a few years. Merger is a more likely with another equal or close to same size bank to create another 1T size entity. Rogers will be given another year or two to take proceeds of insurance sale and grow other areas of bank. They seemed convinced that they can grow investment banking to cover same profit and revenue as insurance. Outsourcing will continue to be how they try and cut expenses. It will continue to create issues for the distant future. I still believe new BOD member was brought in to be CEO in the future whether interim or permanent when the inevitable announcement of Rogers does happen assuming no merger happens first. They are using the old Suntrust model as they remain stuck in 2010 with no original thought process. Talent will continue to leave as they recycle people from other banks in and out. A 24 person operating council is unsustainable will be changed in a year to eighteen months to some smaller group that will try and breath a new life. Rinse wash and repeat. Until Bill is pressured into real change or is forced out things will motor along as is. If they have to cut dividend at some point then all bets are off. This is unlikely as we will continue to be profitable in spite of Bill and Beau and Mike just no real growth in earnings or stock price for the foreseeable future.
I would guess the board would replace the ceo first but they def don't care about the employees, just the stock price.
I cant imagine it has much longer from what I see. Desperation really setting in, hopefully more people speak up and call out the good ole boy network running this thing into the ground as happened on the last town hall.
Be shocked if this stock isnt trading in the teens this time next year.