Cramer has said it over and over—banks are too tough to own in this environment. But that being said, not all banks are created equal.
The regional banks are holding up much better than their national and international counterparts. Case in point—BB&T , a southern bank, which reported a three-cent earnings beat off a 49-cent basis. Its net interest income is up over 18 percent from the prior quarter and reported a four percent year-over-year loan growth.
BB&T CEO Kelly King told Cramer that’s because what happens in Europe and on Wall Street is immaterial to the company.
“What’s going on in Europe and Wall Street has nothing to do with us,” he said.
King also pointed out that BB&T is different from other banks that take risk.
“Because we’ve been conservative for a long time … we didn’t see the boom times and we didn’t see the bust times like a lot of companies did,” he said.
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