I agree their market is exceptional but they don't have the killer instinct to harvest it for profits. The management team has been there for too long and although relatively young are likely held back by old board members afraid to lose their money rather than grow and expand. SH meeting should be interesting with Weichert rattling the sabre for a sale. I'm afraid these guys are doomed just like First Morris. Why they never bought that bank is puzzling. Any thoughts?
I'm not sure you know what you're talking about. They've been a little slow and deliberate about adding branches, which is OK. I believe they added 3 branches in 2006 bringing the total to 23...the new Summit branch should develop nicely.
As for FM being doomed, if I'm not mistaken, it was the second or third best performing bank on terms of shareholder return for the last several years.