SD, we're here in Puerto Vallarta where is been a bit on the cool at about 74 - 76F daytime. Nevertheless, the doors are open most of the time. In the long past we spend time on the Baja before the road was built, but not in San Felipe. During those days there was only one resort south of La Paz that I recall and it was near the tip of the peninsula. I believe it was Fenesterre?
I agree that TMCV must have a load of real estate mortgages, but management has so far proved that they understand this business well and,hopefully, they are well protected. As I compare investment opportunities, I have not seen anything in the community banking arena that looks superior to TMCV. If interest rates continue upward, and I believe they will if the US is to attract capital, I imagine there will be a serious consolidation of the newer, less seasoned banks, or some may face dissolution by the office of Thift Supervision.
Yes, I agree with you that the employed Founders of the bank may retire in a few years. If that is the executive attitude , it could happen at any time an attractive offer is floated to TMCV. One of my Montana favorites is expected to consolidate this month with US Bank. I'm disappointed b/c it's a great dividend producer, but the share ratio is not too bad and US Bank is far stronger financially...so what do I know? While I have a full position at TMCV, I'm tempted.
I believe TMCV has a strong community bank competitor. Do you have any insight about their operations, SD?