Heritage Bankshares Inc. Message Board
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Last Topic on This Board for Me.....MNRK News/Predictions
Doesn't mean I won't follow-up within this topic as to the accuracy of my predictions & to discuss the great news that MNRK is releasing throughout the year.
MNRK released great news this week for long-term holders of MNRK. Their preferred shares are going to be a thing of the past as of 3/8! Over the last three years, MNRK has paid preferred dividends of almost $4.5 million.....but not anymore!!! It could be bumpy ride for a month or 2 until the additional shares/float gets digested, but this is excellent news for long term investors of MNRK!
As the CEO of MNRK so eloquently stated earlier this week: "The return of our capital to common stock and the anticipated growth in our net income available to common shareholders will have a positive impact on our shareholders."
A few predictions for MNRK:
a) Q1 earnings release will report its 17th straight quarter of record year over year quarterly performance
b) Common dividend will be increased in 2013
c) Its price will hit $11 sometime in 2013-
Prediction "a"- Q1 earnings release will report its 17th straight quarter of record year over year quarterly performance - DONE!!!!!!!
- 1 Reply to maine1964
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Prediction "b" - Its price will hit $11 sometime in 2013 - DONE!!!!
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Included in MNRKs 1/31/13 press release.......
1) "Monarch was again awarded the highest 5-Star "Superior" rating by Bauer Financial, an independent third-party bank rating agency that rates banks on safety and soundness."
2) "Non-performing assets were 0.30%, which remains significantly below that of our local, state, and national peer group."
3) "..Total risk-based capital to risk weighted assets at Monarch Bank equaled 12.73%, significantly higher than the required level to meet the highest rating of "Well Capitalized" by federal banking regulators."
Take your scare tactics elsewhere.....- 1 Reply to maine1964
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In November, Brad E. Schwartz, Chief Executive Officer of Monarch Bank and Monarch Financial Holdings, Inc., was elected to serve on the Board of Directors of the Federal Reserve Bank of Richmond. He will serve a three-year term beginning in January of 2013. He was elected as a Class A director representing bankers from the Fifth Federal Reserve District which comprises Maryland, the District of Columbia, Virginia, North Carolina, South Carolina, and most of West Virginia.
MNRK shareholders are feeling comfortable!!! What an honor!
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