Hi Johnny,
The Fama-French research doesn't attach moral judgments to the terms "value" and "growth" (or, more accurately, "high book-to-market" and "low book-to-market"); it simply observes that high B/M stocks have outperformed low B/M stocks most of the time. It may be that high B/M stocks EXCEPT FINANCIALS have outperformed, but I haven't heard that. It may be that high B/M stocks EXCEPT FINANCIALS will outperform in the future; I don't know. As I've mentioned in other comments, "value" in this context does NOT mean that a particular individual stock will outperform in the future, only that the group of stocks sharing that characteristic have usually outperformed in the past.
--Brad