Please look at the prospectus and or call the stock center. Existing shareholders will get 1.7 - 2.3 shares in the new offering for their old shares. Do the math. I talked to someone in the company and the doubling of their networth will be to look at acquisition opps in this market. A non related person told me this looks good for the bank.
Have not posted in quite some time. I think it will be good for the bank also but what worries me is how long they will pay the dividend at the current rate. With all the extra shares I think that the bank will have to cut it sometime next year. I also think the PE will contract to the levels of other banks.
I don't understand all the confusion here.... For those who don't understand this kind of stuff, just think of it as a stock split ok? Approximately 2.3 to 1. And the company has more cash now. nuff said