For Banner to issue new equity below $3 per share (let alone the low $2s), with their favorable capital adequacy, NPAs and NIM, it would be rather self defeating, even if it postured them for an FDIC bank deal behind Umpqua, WFSL, Columbia and possibly, Chase and Zions IMHO. A lot of you are trading BANR between $2.70 and $3.00 because of the anticipated overhang of a secondary offering and may miss (I hope so) a surge in the stock if they suddenly reach profitability. Alternatively, with an executive team in their 60s and a CEO that has fixed and sold a bank before, we may find that a larger bank buys BANR which is trading at a fraction of its tangible book value. With its size, demographics, core deposite liquidity and favorable ratios, BANR is an ideal candidate. In fact, an acquiror at $5-$7 per share could possibly improve its own ratios with consolidation given the current price of its stock. At ~$5 billion, Banner is at the perfect size to be either an acquiror or an acquired BHC. Do your own due diligence.
The problem is some of us are greedy, trading regularly in the range you stated, trying to make the quick buck while fearing we will get bit when the stock does take off.
If I get screwed, it was self-inflicted. Meanwhile, 10,000 shares @ 10 cents profit/buy-sell = $984 after paying Scottrade's commission. And, what else does a retired school teacher have to do with his time?
I quite enjoyed your posting; very intellectually honest. My style is to find undervalued gems during market overreactions every 2-3 years for a 3x to 5x return. Detailed analysis and patience has been considerably rewarding to me over the years.