the bank reported q3 earnings of 175k. not solid but not bad. that's a 13% ROE to the current mkt value. still remains a solid value play. how they will repay tarp is the biggest question that remains. i say shrink the bank over time, get lean and earn your way into $4 million of excess capital. or, leave it on the books, sell an npa or two, buy a pool of seasoned sf 1-4 home loans to increase earning assets while trying to buyback small chunks of stock here and there. i am sure the mgmt team is under an informal agreement with minimum capital requirements that will keep them from executing buybacks in the near future. Target is 50% - 75% BV until the tarp story is told.