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Wilshire Bancorp Inc. Message Board

  • Victoriya2 Victoriya2 Apr 26, 2011 8:54 PM Flag

    Yoo puts gun to Sam's head - pulls trigger

    ugly subject line -- uglier CC

    did you hear the caller cry at the end of the CC? "Please Yoo please, do not dilute my fund out of existence. Please do not do sweetheart deal to 'outside' investors - please give me a chance to throw more good money after bad."


    as mentioned before, balance sheet of car washes and roach motels. Yoo blows it out at cut rate prices - knocking tangible book to: Tangible Common Equity Per Common Share $3.70

    even worse: Tangible Common Equity To Tangible Assets 3.92%

    regulators will want 9 or 10 or 11%.

    oh, and by the way, Yoo says MOU has already been drafted and on the way.

    Yoo say don't hold your breath for profitability until "end of 2011".

    Lest you forget, only 1.5B worth of CRE & C&I loans was reviewed for loan sale (because they ran out of time apparently). So next quarter you have another cut rate loan sale to look forward to. Want to guess what kind of haircut you'll take on your C & D portfolio?

    the comment from analyst welcoming Yoo back to banking was absolutely priceless. this analyst had intimate knowledge of Yoo's previous behavior at Center bank - to first blow away the TDR & 'worrisome' loans and then recap the bank.

    if experience was her guide, she made a killing shorting Sam's shares.

    sad to hear analyst cling to the DTA -- btw, good luck trying to sell the importance of DTA to vulture investors in the massive dilution and likely reverse split to follow.

    there is no way this should be selling for more than tangible book - offering almost certain to be priced well below. Why would anyone pay above tangible book with Yoo taking aim at the next quarter.

    Branch managers making loans - no oversight.

    Look at the wall - that's your brains.

    Yoo pulled the trigger.

    Cheers. V

    "We have taken and will continue to take aggressive steps to reduce our level of problem assets, which includes future loan sales." <-- FUTURE LOAN SALES

    "The Company has developed a plan to strengthen all of its capital ratios which it expects to implement in the very near future." <-- there was NO PLAN - they are waiting for the MOU to describe just how much capital they must raise.

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