It only had $47 mil in deposits, back in my days, this would have been closed alot sooner. But then I hear they are building 12 new very expensive green branches, my only take is they have to spend the profits or otherwise waste it on increasing the dividend. Anyone see the lunacy of building more branches in a no growth economy?
I am going to put on my beta beanie and do a Spock analysis and try to explain this in simple terms so that all the geniuses in the stock market can understand it. Imagine a typical consumer, who has a car, a house he overpaid for, a mortgage, car loan and less than $100 in the checking account, you know 27% of the people only have $100 or less in their savings or checking account. 50% of all the people in this country have only $500 or less in the bank. These are facts. Check it out. A large and growing percentage of people have little or no cash, they consume everything they earn and then some. These 50% also have a rising debt load, car loans, mortgage payments, and credit card debt is ballooning, Visa and Mastercard is proof, their stocks are in a straight up trajectory. Any additional money earned by this growing mass will go toward debt repayment. I forgot, STUDENT LOAN DEBT. Hence, using surplus when there is no surplus to grow consumption and GDP is not a very good propostion. Quite the contrary, it makes a case for negative growth or Depression.
The economy is and has been growing. Klumpy throws out falsehoods and hopes they become fact. Thanks for coming back after you lost your #$%$ shorting. Nothing seems to be better for the market and PNC than your bashing