it is not called wall street anymore, it is called fraud street. the current mortgage/foreclosure mess is just another example. How can a bank foreclose on someone that paid cash and owns the house? Even with his paperwork in order they were still going to foreclose until he contacted a newspaper that put it out as a headline.
With a 2 1/2% yield and the price at these levels, this bank does look like a good purchase at these prices. Over a 2-3 year period you should be rewarded nicely. With the EPS projections, smaller writeoffs of loans, we should see some good capital gains.