There is a cyclical shift going on. Deposit growth is slowing, while commercial lending grows, led by real estate. Consumer lending is slowing, which I think is good because consumers have been spending like drunk sailors.
More Quotes from Jeff Davis:
They have been opportunistic when opportunities present themselves ... they've probably got a couple dozen banks within the footprint that they have a high interest in if they were to sell.Jeff Davis
Aaron and Bruce are going to have to play well in the middle. Everything feeds off of them right in the middle. They're really going to have to play well.
Jeff Davis
It is a quarter marked by negative operating leverage, but Wachovia has a strong business model and earnings power. They had nice expansion of net interest margin, and have a great deposit base.
Jeff Davis
It was a good baseball game, but were unable to generate much offense. That's what we'll have to work on in practice.
Jeff Davis
It's a bummer, ... because we get so many emails from young kids saying stuff like, 'It's Boys Night Out, not Unisex Night Out' It's frustrating, but we realized when we started writing that we wanted to make a record that would make us happy.
Jeff Davis
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