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Northeast Bancorp (NBN) Message Board

  • secrtztn secrtztn May 17, 2012 8:48 AM Flag

    Capital

    This bank raised a lot of capital and took a significant hit with its tangible book capital. Bad for the old shareholders, but good for the new shareholders. What do they intend to do with all this additional capital? Prospectus does not give any real insight as to their plans.

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    • They are first going to get rid of Big Brother. Then they are going to lever the remaining new money into purchasing commercial debt at a discount.

    • I've read through the documents. I think that management has raised a lot of capital to get this Bank to be a powerhouse within a few years - yes, great board with a lot of good experience, and a lot of M&A types on the board. I'm think that they get this Bank to be profitable, growing and then sell it out within 3 years. A good entry point in my view under tangible book value - now is the time to buy in and hold on.

 
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