How the FDIC allows this thing to continue to operate is beyond me. Bad assets mostly church loans are double the net worth and the bank is way under capitalized. The only thing I can come up with is the bank is black owned plus the FDIC does not want to deal with bad loans (and possibly some good ones) to churches in Southern California. And look at all the govt handouts given the bank that has been wasted. Talk about affirmative action and preferable treatment gone to the the extreme.!!!!! I also wonder what politics plays in this banking fiasco.
The company reported net EARNINGS of $1.9 million, or $0.73 per diluted common share compared to a net LOSS of ($1.9) million, or ($1.39) per diluted common share for the same period in 2011......that only smells very nice to me, I am sure to double my money with this one short term!!!! and its a super low floater!!!!!