"Price is what you pay. Value is what you get." Somebody like Warren Buffett talks like this. I note somebody is buying (though trading is pretty thin) this stock for a ratio of about 2.5 x its book value of $1.07. Stock closed @ $2.65 yesterday. That represents very strong confidence in the new Legacy (Premier Bank and Trust).
Another way of calculating the value of the company is by comparison of the value of the total bank. The MARKET CAP of Legacy is $52.24 million (cost if you could buy all its shares at the current price). By comparison: MARKET CAP of First Natl.Orrville = $31.42 million; Commercial Bank CSB = $42.38 million.
Big and far away N.Y. banks are making changes, but it is also interesting to watch what is happening to very local enterprises--similar transitions, different players. I mostly respect people who put their money where they put their mouth. That includes investors who buy Legacy stock at current prices!! Would be interested in reading the logic and justification--for instruction and personal education.
Bless all this weekend. We need all good local businesses these days!!