CBCR raised 10 mil in cash from bank sales during the quarter which more than covers the quarterly loss and provides a little more of a capital cushion as compared sequentially to Q3. Given that operating capital levels are stable to higher sequentially at the remaining banks, Scott is wrong about imminent FDIC seizure. They have another couple of quarters to reutrn to profitability or raise capital before the FDIC is at the door.
On the other hand, I don't think he's trying to bash the stock to get cheap shares. CBCR is a troubled bank and people are entitled to their opinions. Shareholders should be looking more at dilution as a potential threat than an FDIC seizure. This is a good reason to own the trust pref issues rather than the common.
"ohhh mamma u better take that gift 28-Mar-12 03:15 pm equity capital down to 3.6%---WHAAAAAAAAAAAAAAAAAT down from 4.41% in same qrtr of 2010. These boys could be scooped up at ANY MINUTE---imo. I see the trust pref's bounce. Thats very small money. I think the spike precludes the announcement. I think they may get a visit this Friday. Just a guess."