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F.N.B. Corporation Message Board

  • noquit4me noquit4me Aug 31, 2010 9:56 AM Flag

    Paying too much for CCBP ????

    Are they paying too much for Community Bank ? Just wondering your thoughts on the buyout!

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    • No sir, you are wrong. To bet against the spread would be to speculate, and I am an INVESTOR, not a speculator.

      To explain the difference, here’s a passage from Ben Fox’s investment guide, “Ben Fox: Profile of a Prodigy”:

      “…picture a large, rotund man, looking down from a balcony scowling. As he steps toward the staircase, he slips on a banana, and rolls, bouncing down the staircase. At first glance, it paints a funny picture, and you laugh. But, as you look at the large motionless body laying at the foot of the stairs, you realize he snapped his neck and now it is not so funny. You see, there is a very fine line between humor and drama…such is the case between speculating and investing…”


    • You lost 3 against the line.Which is all that counts. That is 40% win percentage which is a real loser. That are the facts ,sir.

    • Wisconsin 27 - San Jose St 14
      Texas 34 - Wyoming 7
      Nebraska 38 - Idaho 17
      Utah 38 - UNLV 10
      Texas Tech 52 - New mexico 17

      My formulas were 5-0 in selecting winners...THAT'S how I define facts, sir!


    • edsmailbox Sep 10, 2010 3:17 PM Flag

      That limb is about 5 ft. thick!!!Five of the biggest favorites of the week. Very Funny!!

    • FNB is adding 6 mil. shares + paying 17 mil. cash for ccbp. That is a 5% dilution in shares. They are selling their trust operations to US bancorp(amount not disclosed). They are getting a bank with 42 mil. cash and only 8 mil. of debt. CCBP will add to EPS right after closing. Sounds like a good deal to me.

    • That is what I'm wondering. There are some big sellers out there at this level

      • 1 Reply to shack4392
      • F.N.B. Corporation

        The highest-yielding bank or thrift stock on our selected list is F.N.B. Corporation (FNB) of Hermitage, Penn. The shares closed at $7.77 Friday, up 18% year-to-date, and were yielding 6.18% on a quarterly dividend payout of 12 cents.
        F.N.B. had $8.8 billion in total assets as of June 30. The company announced on August 9 a definitive agreement to acquire Comm Bancorp (CCBP) of Clarks Summit, Penn. for a combined $70 million in cash and stock. The deal is expected to be completed in the fourth quarter of 2010. Comm Bancorp had 15 branches in Northeastern Pennsylvania and $642 million in total assets as of June 30.

        In an investor presentation the following day, FNB's senior management emphasized the company's experience successfully integrating seven previous acquisitions since 2002 and how the combined company might benefit from the Marcellus Shale, which, when fully developed, has "potential to be the second largest natural gas field in the world."

        Guggenheim Securities analyst David Darst agreed that FNB was quite successful with previous merger integrations, acquiring since 2004 total assets of "$3.4 billion with no significant increase in risk or loss profile," although he maintained a neutral rating, with a 12-month price target of $9.00.

        Then again, based on Friday's close at $7.77, the target price would be a 16% gain, and an investor would receive a fat dividend yield while waiting.

14.48+0.04(+0.28%)Nov 27 1:03 PMEST