A paragraph Pinnacle doesn’t want associated with its earnings

By Geert De Lombaerde Posted on October 19, 2009 at 1:47 pm

Southeast powerhouse BB&T today reported earnings that beat estimates, but Tiernan Ray at Barron’s says there are plenty of clouds still in the sky.

What’s troubling is that the company’s core business of writing new loans continues to slip even as its portfolio of existing loans deteriorates further. Fees on plain old deposits are just about the only thing to smile at, and even that is small comfort.

We’ll see tomorrow afternoon what comforts Pinnacle CEO Terry Turner has for his shareholders. Analysts expect the bank to post a loss of 9 cents per share.

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Tags: banking, BB&T Corp., earnings reports, loan losses, M. Terry Turner, Pinnacle Financial Partners Inc.  

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