It is funny how I discovered this Bank (stock). I was looking for banks who sold to Ginnie and had great financials, and this was one of the 12 banks. BTW, none of the banks were large/mega cap stocks. I liked this one because of the low trading volume, high share price and low beta, and not because of Tina Palin.
Currently book is 1365 and bank is buying back it's own shares (24,001 this past year). 10K due out on the 19th. I have followed the bank since about 1975 and it is usually ranked as one of the 25 strongest banks in country. The Cuddy family owns the largest %. It pays a 6.25 % dividend (100 per year) based on market of 1600 per share. It earned 124.59 per share in 2008. If you ever get a chance go to the annual meeting - Mr. Cuddy who is in late 80's is one of the sharpest people around (and most conservative). Note I am long on this stock and am considering buying some more.
I love it too. Great, steady dividend... $25 per share per quarter. I doubled my position when we dipped to $1400. I'm getting a GREAT yield now. Just keep accumulating folks. What a great place to park my money during this contrived market meltdown. Shorts should hang. Bring back the UPTICK RULE !!!