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Temecula Valley Bancorp Inc. Message Board

  • bancinvstr bancinvstr Sep 8, 2006 11:01 AM Flag

    Is TMCV on the block?

    Has anyone noticed the insider transactions since May of this year?
    http://finance.yahoo.com/q/it?s=TMCV
    No one buying or selling except for options or programed sales since May. This is a long blackout time for insiders who normally are active in the market. A sale of the bank would be a big payday for us.

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    • I don't think that TMCV is "in play" just quite yet. They have recently added a number of new people, created new divisions and directions that I would think that they would need to get their own house in order before putting up the "For Sale" sign. I'm sure that they are an attractive buyout prospect now, but I recall the president saying a while back that he wanted to build this institution up to the $2 billion asset level and would not consider offers less than $28-$30 share. That would be around 4x book value right now, which might be a bit rich at this time. A number of heavy salaried high-level exec's and their "parachutes" have been added over the last 12-15 months. New layers of authority and production have been added, which usually means a bit of a philisophical and procedural adjustment period will follow. IMHO, I would like to see this bank "slow down" a bit, focus on their portfolio (which is heavily laden in higher risk SBA and spec residential construction) and address concentrations and capital issues. This institution is still a winner and top performer, however, my fear is that this bank is moving a bit too fast and may face some future reprecussions because of it.

 
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