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VIST Financial Corp Message Board

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  • carciofo60 carciofo60 Jul 26, 2011 11:20 PM Flag

    Vist To Offer $30 M to Existing Investors

    No, there's not a stock that's cheaper and probably for obvious reasons. As I've said before, I'm hopeing that someone buys a controlling interest in the bank and makes some much needed management changes. That's the only way VIST will be able to deliver enhanced value to their shareholders.

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    • It is interesting to read the posts from novices. For example, the same sentence about selling 'limited' shares back in april to Battlefield and Emerald was used in roadshow presentation(s) and annual meeting to hype how 'exclusive' they were in releasing only a few number of shares and their intent to wait until market picked up so as not to dilute shareholders. And that it was the shareholder's interests they took to heart.

      What a crock ...

      The reason they are doing the offering is because their tangible tier 1 common ratio is 4.5% which is far and away horrible. Regulators are almost certainly screaming at them to raise capital.

      Then you have the 'Allegiance' purchase which they hype as giving them a foothold into downtown Philly. What a *joke* - has anyone other than myself actually seen the 1 storefront they received in Philly? It is in the run-down black district not too far from the site of Ben Franklin's first US post office. It is a door in the frame of residential row of homes perhaps 6 feet wide.

      It's nothing more than a LPO office.

      Allegiance was a mess and in po-dunk locations. Throwing VIST logos over it - well, unsure this warrants the hype surrounding their acquisition.

      The thing I find bizarre about VIST is their lack of ownership with regard to any of their branches. That has got to cost a pretty penny when your competitors own theirs and not paying landlord markups. Typically when you have these ancient institutions with branches in suburban or outlier areas, they take advantage of low cost of ownership. Not VIST.

      I would be a buyer only if they put their insurance division up for sale. That would fill their coffers, and there would be no reason to conduct the offering.

      What kind of board room decision was it to dilute shareholders out of existence instead of selling off the non-core insurance subsidiary. FFCH recently sold theirs and received a pretty penny.

      Cheers. V

      "In April 2010 Vist sold $5.2M worth of shares to Emerald Advisers and Battlefield Capital Management at $8 per share. Those investors were interested in acquiring up to 900,000 more shares at $8 price. That's $7.2M. "

      • 3 Replies to Victoriya2
      • Yes you CAN always tell the newbie posters with axes to grind.

        Interesting. Maybe I should create an account just to trash bank stocks like someone else.

        As VIST reported in APril 2010 regarding the sale of shares at $8.

        "Although we had indications of interest to purchase an additional 600,000 to 900,000 shares at $8.00, we declined to increase our shares outstanding," stated Edward C. Barrett, Executive Vice President and Chief Financial Officer.

        VISTs metrics have mostly improved since 2010.

        Yes I will listen to an idiot that admits they know nothing about the bank.

        I am sure this guru bought VIST at $5.75 and sold at $9 only to short at $9.


        "Net interest income increased $3.3 million, or 16%, to $23.1 million for the first six months of 2011, as compared to $19.8 million for the same period in 2010."

        Oh that is just horrible!!
        LOL.

        "Excluding a non-recurring $1.9 million gain recognized during the second quarter of 2010, pre-tax income for the quarter increased by 42%, as compared to the same period in 2010."

        Oh no more bad stuff!!

        VISTs tier 1 Capital Ratio is 9.64

        Oh my that is just horrible! I am sure Allegiance had nothing to do with this reasonable Tier 1. LOL.

        VIST Non Performing Assets, 2.25, Peers: 3.04.

        Oh my this is just horrible to have better metrics that your peers.

        Loan charge offs 0.70, Peers 1.15

        Again, horrible to have better metric than peers.

        Loans 30-89 past due 0.99, Peers 1.21
        Again horrible to have better metric than your peers.

        NPL 2.94, Peers 3.43
        Another case where their metric is better than peers. How horrible!

        Net interest Margin up 8 quarters!
        How horrible to have NIM up 8 quarters in a row!

        NIM 3.67%, Peers 3.61

        Again, how horrible to have NIM better than peers!

        Interest income 5.21%, Peers 4.64
        Why are they doing better than their peers? This is horrible!!!!

        Yea, I need to listen to some MORON with a yahoo account that trashes bank stocks.

      • V, excellent post. Sounds like you are close to the situation and possess knowledge about VIST's operations and banking, too. I think I have a pretty good handle on VIST's executive management and the Board. Overall, how would you rate middle management at VIST? I suspect they might be good but are being held back by incompetent leadership. I've also heard merger rummors. Anything to this?

      • Great call dumping on VIST!!!

 

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