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Rainmaker
5,167,306
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Positive for the officers of the banks.

Feb 07, 2019 06:47 AM
Rainmaker
3,179,121
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

And it seems to be happening often and in many different industries. The impact and the good(or bad) is a continuing/open ended question. 

Feb 07, 2019 06:07 AM
Rainmaker
2,892,265
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Well, it's probably good for Charlotte to have the HQ here as we do with BofA. I could easily argue a case both for and against these mergers... but it seems to be the way of the banking world right now.

Feb 07, 2019 06:20 AM
Ambassador
3,943,763
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Which do you prefer to deal with, the huge giants or the local banks?

Feb 07, 2019 10:46 AM
Rainmaker
536,776
Peter Mohylsky, SoWal Is HOME.
Gulf Place @ 30A - Santa Rosa Beach, FL
Let me help you find your path to the beach.

Change is good,  The numbers of institutions is in a constant state of flux.  Banking is just one sector that is moving into consolidation.  

Feb 07, 2019 07:37 AM
Rainmaker
989,087
Corinne Guest
Corinne Guest, Realtor | Barrington Realty Company - Barrington, IL
Barrington Lifestyles

I don't think they indicate anything other than best profitability for the companies. When one combines, another divides. It's just the way of the economy. I believe and always have done, there is room for everyone.

Feb 07, 2019 06:36 AM
Rainmaker
1,485,600
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

I personally think that more bankers should have gone to jail. I suppose they are again planning to take over the world.

Feb 07, 2019 06:33 AM
Rainer
214,100
Caroline Gerardo
CMG Financial - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Rings the IMPLODOMETER bells of the past.  Brick and mortar banks are in big trouble. They make money on credit cards and usury checking account fees to poor students and people who can't put a large deposit in the bank. They get hacked daily and cover the losses and brush the secret under the rug. Some cut in house mortgage as they can't keep up with all the legal costs, you need a bevy of attorneys to keep up with regulation. Wells Fargo is a fine example of what is all wrong with banking. They cheat and don't correct employees as it's cheaper to pay billions in fines than be honorable. Any whipper snapper kid with a computer app to update their security can sell them a widget that doesn't work because the CEO and Seniors have no idea.  end of rant

Feb 07, 2019 01:08 PM
Rainmaker
705,094
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

These things take place all the time. It's positive for the high-level executive bonuses

Feb 07, 2019 10:53 AM
Rainmaker
1,196,838
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I don't know enough about those industries and companies to comment.

Feb 07, 2019 09:04 AM
Ambassador
3,103,718
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Business & bank mergers occur at all levels and are a constant in business. I really don't see it as a reason to worry or celebrate with regards to the economy...

However, the Winston Salem, NC SunTrust & the Atlanta-based BB&T will move HQs to Charlotte in the merge! We are thrilled about that here in Charlotte!

Feb 07, 2019 08:24 AM
Rainer
27,508
Kenneth J. Jones
55 Plus, Realtors - Toms River, NJ
Broker of Record, SCGREA

Jeff Pearl Consolidation typically limits competition and causes significant job cuts due to duplication.

So, while the business entity may benefit from the economies of scale and less competition, the public tends to suffer higher costs and fewer choices of competitors.

In the end, severely limited competition is generally not a good thing.

Feb 07, 2019 08:24 AM
Rainmaker
4,228,432
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Jeff,

I agree with Nina Hollander .  It is part of what happens on a cyclical basis. A

Feb 07, 2019 08:07 AM
Rainmaker
501,934
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

Bank mergers at all levels & sizes are neverending.

Feb 07, 2019 06:29 AM
Rainmaker
4,431,007
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No idea.

Feb 07, 2019 10:14 AM
Rainmaker
4,795,864
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I think it will be negative for the consumer and positive for the bank.

Feb 07, 2019 07:03 AM
Rainmaker
2,401,999
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Nothing in the banking world happens by accident. On the back-burner of my thinking is the multi-billions from marijuana that need to find a home and the fed's awareness to regulate "cash" and track-it. Look for these subtle signs

Feb 07, 2019 06:37 AM
Rainmaker
730,271
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

When the big get bigger, the small will pay.

As our choices deminish, so will our freedom.

The choices the small will has is:

Amscot

Wells Fargo (Insert your mega-bank here)

There will be no middle ground.

Feb 07, 2019 05:59 AM
Rainmaker
3,970,939
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I don't know enough to really guess

Feb 09, 2019 08:53 PM
Rainmaker
2,744,968
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

I know that what I think about it won't change anything. 

Feb 08, 2019 06:07 PM
Rainmaker
631,944
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

I am a Realtor because I was laid off due to a bank merger. Best thing that ever happened to me (career-wise).

 

That will not be true for everyone. Part of what makes bank mergers work is expense reduction. Offices will be closed and employees shed where there is market overlap of existing operations.

Feb 08, 2019 08:37 AM
Rainmaker
714,966
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Positive for banks (synergies);  negative for employees (layoffs due to redundancies); negative for consumers (less competition). 

Feb 08, 2019 07:01 AM
Rainer
215,671
J.R. Schloemer, CRS
Kentucky Select Properties - Louisville, KY

I can’t say it is either. I e only had one BB&T transaction in 10 years. SunTrust is not here! But an ex-gf of mine banked there because her grandfather was an officer at the company. I know nothing about ST and when my parents financed with BB&T in Indian Beach, NC I can’t say it was the best impression of how banking should work. 

Feb 07, 2019 06:02 PM
Rainmaker
262,887
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

They keep playing Pacman and we will be down to a hand full of monster banks. Need to keep them out of the real estate business.

Feb 07, 2019 04:24 PM
Ambassador
1,586,645
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Too big to fail is getting bigger.

Feb 07, 2019 02:53 PM
Rainmaker
3,093,975
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

I thonl mergers will taper off for 2019. That said, the jury is still out for the mergers that have taken place.

Feb 07, 2019 02:47 PM
Rainmaker
1,807,310
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

This the first I heard of this

Feb 07, 2019 12:41 PM
Rainmaker
4,785,584
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Roy gave the "definite" answer.... not even questionable....

Feb 07, 2019 12:16 PM
Rainer
32,432
Kris Collis
Smart Way America Realty - East Stroudsburg, PA
Buy & Sell with Professional Results you Expect

As an alternative, support local credit unions who are not for profit.

Feb 07, 2019 12:08 PM
Rainmaker
2,998,338
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Time will tell I think.

 

Feb 07, 2019 11:12 AM
Rainmaker
1,523,078
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

Not a clue Jeff Pearl .

Feb 07, 2019 11:00 AM
Rainmaker
3,972,924
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I don't think we have either here in Denver.

Feb 12, 2019 06:50 AM