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Temecula Valley Bancorp Inc. Message Board

  • pvbud pvbud Jan 13, 2008 6:02 AM Flag

    Recent Insider Purchases

    Date Insider Shares Type Transaction Value*
    7-Jan-08 BARTRAM DAVID
    Officer 1,000 Direct Statement of Ownership N/A
    Director 400 Indirect Purchase at $12.17 per share. $4,868
    14-Dec-07 BECK ROBERT P
    Director 500 Direct Purchase at $12.10 per share. $6,050
    12-Dec-07 PITCHER DONALD A
    Officer 3,200 Direct Purchase at $12.09 per share. $38,688
    Officer 5,000 Direct Purchase at $11.92 - $12 per share. $60,0002
    12-Dec-07 BECK ROBERT P
    Director 1,000 Direct Purchase at $12 per share. $12,000

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    • As much as we all like insider buys there was also a large insider sale on 12/7 by Thomas Sheperd, whose resignation was announced today. Any thoughts/insight into these events? -pki

      • 1 Reply to pki58
      • Many of us who have been investing in TMCV since the beginning are sorry to see Tom Shepherd go. The Bank loses a top-notch Chief Credit Officer. Not sure if this is a sign of things to come or not. Question is, who will replace him? Probably will first look to hire from within, but does anyone know if a current officer is interested in filling the vacancy? Might have to reach outside the Bank for a willing candidate.

        As I have noted in the past, TMCV has some rough trails ahead in 2008 - joining the ever-growing fraternity of real estate-heavy banks in SoCal - but I believe that they will persevere and work through their issues over the next 12-18 months and come out stronger than most of their brother institutions. But it's no secret to the investment community that some level of charge-offs, write-downs and losses are forthcoming. Hopefully, with the addition of David Bartram to the Bank's SBA Division, the Bank will see a boost in profitability within that area for 2008, which could help mediate some of these losses. I think that the stock price is a "bargain" at this level (well below book). I'm adding to my position. Good luck to all.