Any potential bank acquirer now is looking first at acquisitions trading at around 1.5 times tangible book value. However, any acquirer has to take into account the market value of a bank's loan book. This is not the same thing as the carrying value of loans. "Market value" right now will typically mean a mark down of such assets. JMHO
I don`t see that. I think we retest $2.25 again. $2.25 would have been the bottom last time but shorts jumped at that and took us back to $1.98. If they do it again we will break it again. If you will note $2.25 was the point where we rallied back to 5 times. Now if there is any word of a secondary you can throw that price out the window . Nov24 2009 we hit $1.45 and if this quarter is as bad as that quarter we could see it again. That loss for the third quarter 2009 was 454 million.