2-3 years ago, CHFN would have had to pay a 90% premium to buy out a competing bank. Now, Banks that use to be their competition are now being consolidated into CHFN at a discount and with government aid.
true ! but should we be concerned at CHFN own lending ?I see their NPA's have risen to nearly 3%johnson is a risk takerthey once bought world com bonds and of course made out fantastic leveraging a small alabama bank while fdic ots was asleep into massive fre position ..risk takers they are...but i think smart ones i do believe they have some loan problems ...but they will be winners after all...the danger is their own lending and acually buying another banks bad loansi do believe johnson will kick tires and not do bad deals just to be bighopefully more govt deals ahead...but what if loans they wrote default on say 5%??jococ there is risk in this recovery as small banksit with garbage loans they wroteconsumer and small biz cannot repay !jcoco
Charter Financial (OTC:CHFN) Moving Up the Ladder to Nasdaqhttp://www.worldmarketmedia.com/779/section.aspx/2456/post/charter-financial-otcchfn-moving-up-the-ladder-to-nasdaq