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Broadway Financial Corporation Message Board

  • superkeeneye superkeeneye Mar 27, 2013 9:13 AM Flag

    JAXB reported a "huge" loss...bad sign for BYFC

    I think BYFC is a "sell" at this point. The market is turning "down" and the banks are in a bad spotlight because of the run on banks that will occur in Cypress when the banks open this week. So, the JAXB huge loss just reported and the banking sector being seen to be weak in general....I think BYFC is a very clear SELL. Good luck.

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    • At this point in the cycle, banks like these are not moving so much on the macro other than maybe housing numbers. So what I'm curious about is how you can profess any knowledge or opinion when you suggest that a loss reported by a community bank in Jacksonville, FL has anything to do with a community bank in L.A.. Furthermore, JAXB reported great numbers. The loss was generated from charges taken in dramatically cleaning up their balance sheet. They reduced their NPLs from over 10% to 6% and raised their Tier 1 capital from 6% to over 10%. Their texas ratio came down from 153 to 100. Their loss was mainly driven by charges taken on NPLs they sold off, a heightened provision with the new capital they raised, and the cost associated with raising that new capital. So, do you really know anything about bank turnarounds, or are you just trolling cheap, low-volume stocks of any kind and trying some weak attempts at manipulating them?

      Sentiment: Strong Buy

    • disagree - most US banks were in better shape in 4th Q

 
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