Not buyout friendly, in my opinion. And secondly, why would he sell out.....he's getting paid/rewarded quite handsomely for a bank with only 5 locations and a minuscule number of employees. Great gig!
How many "pros" trade OTC stocks whose average daily volume is 400+ shares?
Of course, if some MBA wants to dump 6000 shares in one day, $14.00 ask might work!!!
Most of the other small banks waste too much money. As soon as you see a fancy picture of the Board of Directors in the Annual Report, you know you're headed for trouble!
Sounds like "The Good Wife" ... you can't tell the Governor "no" ... so we just faxed your application over to TowneBank. Nice move!
Somewhere in One Colley some old geezer is thinking ... when the pros finish unloading and this thing gets low enough, I will cash in my Savings Bonds and pounce!
You're right. I don't think they ever tried to crank up the top line. Game plan is to sell out. But buyout prices aren't high enough. I assume W. Trent Dudley hiring plan was to build up the business in case a sale does not materialize. Whatever ... no sense in selling now.
First, they run up an illiquid stock.
Then they attempt to unload it at the same price.
Good luck on that ... will never work!
(We'll take it off your hands much cheaper.)
Links with politicians don't help banks. If you call over to TowneBank, you have to wonder now ... maybe the Feds have their phones tapped?
Because banks like TOWN and FRNK have issued so many shares, dilution cuts the per share value significantly. In the meantime, HBKS was seriously buying back stock ... plus HBKS employees don't have ridiculous stock options like the other guys!!! It's looks like in history the HBKS CEO just pulled out his checkbook and paid retail for most of his stock.