Wow earming are up to .11 per share compared to .o5 for six months last year. If you bought this stock at 20 dollars as I did that is a whooping 1.0% return.
The bank is on an MOU which is short for "C&D is around the corner"
The real story. Charge-off increased from 9.52 million last year to over 16 million this year and and the same time NPA increased from 51 million to 65 million. That is a 56% annualized increase in in bad loans. Yet at the same time the cmpany lowered it allowance from 22 million to 15 million. THis is the reason they showed a profit by lowering the allowance while NPA are increasing at an alarming rate. I guarantee the BOD is a bunch of local boys that are believing everything the CEO is telling them. They actually have the same peson in charge of Marketing and HR. I understand that the number two in the bank and the only EVP-'Hall" has a very personal and close relationship with the CEO. Flush this stock boys-NO way to raise capital.