This bank had a nice run in 1999-2002. They leveraged their excess capital by growing their branck network and buying back their stock in an aggressive way. Their earnings grew at a very respectable rate. Asset quality was pristine. But that is all in the past now. They are caught in a squeeze of unusually low interest rates which is causing big problems for their margins. It seems as if they tried to shop the bank and didn't get offers that made them want to sell. So now they hope to hang on until the interest rate conundrum works itself out and then they can sell at a price that puts the executive's options " in the money" big time. Until then , the shareholders must sit and wait, and wait, and wait. I know I sound like a broken record BUT these guys are getting paid "obscene" compensation packages to wait; so why should we expect a sale anytime soon????
You are all wrong. their options are well in the money already. its is good to be senior management. excessive contracts, high salaries, big bonuses, and a whole bunch of stock and options. life is good, but i smell a deal on the table.
Your comment that rsln options are "well in the money" are not quite accurate. 87% of outstanding options are at strike prices of $15 or higher. And based upon today's closing price, 37% of rsln's options are worthless ( with strike prices of $18.40 or higher). So you see the "mutual boys" at rsln have this little game of higher & higher salaries & cash bonuses & restricted stock grants to offset the fact they haven't been able to move this stock price up so that shareholders could enjoy some of the financial gains they bestow upon themselves.