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Hampton Roads Bankshares Inc. Message Board

  • theguru_onstocks theguru_onstocks Feb 3, 2010 9:35 AM Flag

    Attn BankersNC

    Can you read the 12/31/09 FDIC call sheet ... it's already posted.

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    • Now, there is your inexperience talking again! Do you know what 'INDEPENDENT AUDITORS' means? Do you know what "SARBANES OXLEY ACT" means? Apparently you think this is a pink sheet stock not a regulated bank! You foolish statements are making you look very childish now!

    • "If they wanted to really get the support, they would of NOT put out a one time charge and they would NOT increase their loan loss provisions!"

      So, see the accounting is a complete joke in the discretion of the management ... except to the extent they didn't want to go to jail.

    • Well now that would of been the dumbest thing to do if you want support for a secondary offering! If they wanted to really get the support, they would of NOT put out a one time charge and they would NOT increase their loan loss provisions! If they left just those 2 items out, the books would of shown a profitable company and the street would be all over this stock buying it back up to the TARP valuation of $9.00 per share! Any profitable bank right now is being bought up huge! See, your theory is absolutely incorrect! Watch and learn!

    • "Did the additional $53 million cover everything or just part of it!"

      Everything they do is geared to make themselves look good so they can push their shelf registration and a pending offering ... so they added to LLR to the extent they think the street can stand it and so their capital looks stronger... you know there are more shaky loans. They have way too many RE loans and loans to insiders.

    • Yep, that is the question! Did the additional $53 million cover everything or just part of it! I think if you look farther into the FFIEC041 Page 9 you will see they have now set aside 5.7% for Loan and Lease Losses! They currently have $2,238 billion in loans! The balance sheet is where you will find this information but I am sure with your knowledge you know this already!

    • No, they did it to protect the asset capital of the company! No spin is necessary either, the company would of been profitable as of 12/31/2009! I told you 2010 was going to be a great, great year for HMPR!

    • They will no doubt put some positive spin in the earnnigs release ... but the reality is they are increasing loan loss reserves because the loans are bad and getting worse.

    • I just scanned it quickly. %95MM loss. I woul dhave to scratch my head to see how they got a $200MM adjustment from the combination of Gateway but I guess it must be legit. I gather they are capitalized for now but I only did a 3 minute gaze.

    • Great, get them off the books and that is why ANDY took the loss in one lump sum! Great management on his and his management teams behalf! I keep trying to tell you ANDY and his team has turned this company around in just 6 months and now the Call Report supports the turnaround! Looks like profitability will return at the first quarter of 2010! Thank you!! The Call Report does not lie but you do! Next time when you post information, you better be educated enough to discuss the 'FACTS'! I am extremely proficient at pulling a financial statement apart from the seams! This Call Report is exactly what everyone should of been looking for, the turnaround point! Even you know it!

    • Writing off Gateyway's toxic assets ...

      adding to loan reserves ...

      those are losses that reduce earnings ... it's another loss.

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