1. Dodd-Frank - not good for small banks.
2. Basel III - not good for small banks.
3. CEO's employment agreement extended until 2018. A lot of the HBKS value is in the current CEO's employment.
4. Going private deal not an option: It could happen, but insiders don't have quite enough ownership.
5. First banks to sell in coming consolidation wave will probably get a better deal ... waiting could be risky.
6. HBKS one of the few banks not weighed down with real estate loans.
7. HBKS started in 1976. Original investors want to see some value and liquidity before they die.
8. Cybersecurity costs increasing ... not economical for small banks.
9. SEC deregistration makes merger more economical.
10. Lack of desirable targets in Hampton Roads.
No one is going to buy MNRK or TOWN - THEY ARE TOO COMPLICATED!
HBKS not making much new loans.