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#579807 - 07/06/06 01:27 AM
Big Ole Merger
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Member
Joined: Jun 2006
Posts: 72
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Any folks in here going through a recently announced merger?? Say....one where $9.8 billion was paid for the other!!!
If so, what are your thoughts!!??
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#579808 - 07/06/06 03:11 AM
Re: Big Ole Merger
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Diamond Poster
Joined: Mar 2002
Posts: 2,494
MI
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No, but 1.05 billion.... And the adventure begins!
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Opinions are mine and never to be taken as legal advice!
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#579810 - 07/06/06 02:13 PM
Re: Big Ole Merger
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Diamond Poster
Joined: Mar 2002
Posts: 2,494
MI
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I've been through them before - the last two on the "buying" side; now we're on the "being bought" side - and there are so many decisions yet to be made. I'm polishing my resume just in case, but am not worried. If my identity was solely in where I work, I'd be devastated. Fortunately, it's not, and I trust that when God closes one door, He'll open a window of opportunity wherever He wants me to be.
_________________________
Opinions are mine and never to be taken as legal advice!
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#579812 - 07/06/06 04:04 PM
Re: Big Ole Merger
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Anonymous
Unregistered
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Great attitude BBoyd! I have that to be true on both the personal and professional level. iafarmer
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#579813 - 07/06/06 06:12 PM
Re: Big Ole Merger
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Member
Joined: Jun 2006
Posts: 72
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I am maybe slightly concerned, we are being bought but our current CEO will be the director of the "buying" bank. There are good things about it though, hopefully we will inherit better services and products.
I am fortunate though, there are no current branches of the buying bank within a 100 miles so I won't be going anywhere!
But this brings up another question....I am being offered a position with a local community bank with a great reputation....the question is...
should I stay and see what happens with the merger (if I do my salary will likely change because I am currently getting large branch incentive pay for hitting branch goals)
or...
get out now before it all hits the fan!!
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#579814 - 07/07/06 02:20 AM
Re: Big Ole Merger
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Diamond Poster
Joined: Mar 2002
Posts: 2,494
MI
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Hmmm...your situation sounds similar to ours - the CEO is still involved at a high level, along with our HR director and a few others. My hope is that they do look at who is able to operate most efficiently within the structure they want to go with and choose accordingly. I'm in a "targeted" back room area, most likely, but would be interested in possibly moving into a different area, such as legal or Trust (we don't currently offer a Trust Dept. but our "buyer" does). I'm over the age where I can get overly excited about sales, so a retail branch doesn't appeal at the moment.
It's a tough call when there's an offer on the table. If the offer is something you would like to do and still live in the manner to which you've become accustomed - it's tempting. Good luck!
_________________________
Opinions are mine and never to be taken as legal advice!
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#579815 - 07/07/06 12:31 PM
Re: Big Ole Merger
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Platinum Poster
Joined: Aug 2004
Posts: 986
Massachusetts
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If there was no merger would you have taken the offer if it was given? If the answer is yes go for it. If the answer is no then think long and hard on why you are tempted to take the offer.
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#579816 - 07/07/06 03:34 PM
Re: Big Ole Merger
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Member
Joined: Jun 2006
Posts: 72
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That is very good advice KAT, I hadn't though of it that way.
BBoyd, my current bank offers a large trust dept and so does the buying bank....but I feel for what you are going through as well, several of our back-office folks will be displaced. The good news is if they are and they aren't offered a comparable job then they get a severence package!
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#579819 - 07/19/06 01:30 PM
Re: Big Ole Merger
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10K Club
Joined: Sep 2002
Posts: 13,965
TN
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I'll keep you in my thoughts, TexTrainer. Hopefully - if they don't have a training department - you will be just fine.
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