Problem with bank investing is that you have too much homework. First, you have thousands of pages of Dodd-Frank; then it's Basel III; then, it's what exemptions might there be? All that complexity - it's not going to be economical to be a small bank, because the rules will be too complicated. So HBKS is pretty simple - tiny bank; they look at the volume of rules; they are going to sell it. So buy and you're done!
Here's the shocking truth: A lot of banks got blindsided by all of the new rules. They didn't understand them, and they didn't realize what a sea change they are. But you know that didn't happen when your CEO is a banking attorney ... right? So don't worry ... he's been on top of it all along. He knows what's going on. You just play video games while you wait.
Everyone is trying to figure out if the new rules are favorable to banks, but it doesn't make any difference because ... they are very complicated rules. It's just not going to be efficient to be a small bank.