Read the second sentence in the loan loss provision section of the quarterly report. It is very hard to to figure, intentionally confusing, I;m sure. Whoever came up with it , very clever. My interpretation, we are hiding loan losses in this shady accounting technique that we just started using now, a year after Sandy hit. Four cents a share, great job guys, give yourselves huge bonuses and company cars and extra vacation time from your very hard job. Have any of you done real hard work at any point in your life, I doubt it. Whatever you do don't reinstate the dividend, who cares about the shareholders.
We all thought the same thing as Mr Alpha and waited year after year after year, nothing but slow painful misery. Plus he never mentions the shore branches, they could have a truckload of bad loans, compliments of Sandy. Management is way too conservative in my opinion and they really don't seem to care what we think, keep it status quo. That is why I bailed, if it ever goes down around 8.50, I may buy it back.