September is way too soon. Look at the banks in the Atlanta area that have Tier 1 leverage ratios of < 3% and still around for a year or more. Theirs was 5.83% on 12/31/11 even after a disastrous 4th qtr and full year. They are in no means out of the woods but a long way from a takeover. If thier losses continued at $10.3MM (same as 2011), they could survive another 2 years. Believe me - I work at one a lot worse!! They have got to find a way to stem the losses or find a private equity group to throw them a life line that is not 90% dilutive!!
You appear to know more than I do about this so I'll just say okay. But the price is over two bucks for a bank buyout hope. If not for that we would be back at .89. I don't see a private equity capital finding this bank an attractive deal with the banks hundred million nonperforming loans. The bank directors and one moron business banker have found themselves with what amounts to large personal losses. That's whats at stake here them and they will do anything to help that. Running this bank is not an option they don't know how and that is fact. They need a trick a deal anything will do to make their bank stock worth more. They would even vote for Obama if it would help THEM. lol