yeah i jusr luv dallas pure play of VPFG my favorite
northfiled should be ok they did not buy too much of that kind of paper
the depsoits are excvellent !
but in no way compare to VPFG VPFG has growth safety non bubble asset prices and a fast growing economy ! jobs coming from california every day !
texas has the highest take over prices 3- 4 times book.
should we bother with northfiled? another intrenched mhc in a super area with some junky paper too boot , now our subsecotr has more to think about
the golden age of banking has past...
i think northfiled will work for small pop and ok returns over time , it is a lot cheaper then roma at issue...joco good minds can think alike!
We agree again Joac,
The non-GSE REMICs probably have lost value vis-a-vie
But if you look at the Weighted avg yield and the highest
yield for Available for sale Mark-To-Market
(> 10 yrs) of 4.41% - hardly high yield.
Thrifts buy the REMICs for the steady cashflow
(think prepayment or lack thereof).
I still think the best thing about VPFG are the low
home prices in the Dallas area.
Plano has the highest median income where pop > 250K.
of course i like this deal yet it might not be as discounted as it apprears because they own 147m of bonds that surely are caught in the turmoil and antoher 30m or corpaorate bonds , that all are surely marked down in value...........still i like it , but if you adjust the mark down . maybe the discount is more like 8% only.....the bonds might be just fine but marked down non the less...maybe they will not buy anymore of non fre - fnm paper now and that is good.....northfield is nice beo might be intrenched though make a million a year hard to leave and to sell out...so it is not a perfect deal , plus mhc not the best thing for shareholders usually ( unlike the roma the great !) yet market area of northfield is far superoir to roma the great/./////i say buy but do not expect much from it....and if market gets worse...might not be enough vig in it...joco
i agree that would be good prospects but as to when they sell shares could be never or tomorrow they announce an offering . make sure to get a decetn yield while you wait it could be decades : ) would like to seem them file ....but maybe they will not the ones that have gone may have gone....joco
seems like a good move hcbk is premium yet i like sub book action the best , hard to say hcbk could really do great when interest rates are dropped and they start to genreate loans ...it is the bank ,,,, i really do not know , maybe a basket approcach is best buy HCBK ORIT BNCL ESSA you can buy lesser thrfitsa way under book ....i also like A LOT is VPFG for a play over book maybe 110% adjusted you pay for ft worth dallas hyper growth many banks have been bought in this area for 3.75 times book the region is grossly under banked becuase many banks left after the burn in the oil in 1980's and never came back , now the area is on white hot growth and the bansk aint there !!! ...special situation ..offered at just a nudge over book soon out one 1year so buy backs will add support...like ORIT VPFP alot !! buy on dips if market stays wild....roma is a great shop but has a lot fo cash on its sheet..............maybe they will do a return of capital....i dont know i luv roma.........but at 16.50 17 or more in this market there are a lot of other beaten down gems...TFSL is another 30% floater at 11.38 5 point difference .............i guess it is time to buy urban value in this subsector ......i like em cheap so BNCL ESSA ORIT VPFG ABBC buy discount selll premium !!!! i liek texas buy at 110% of book enjoy growth when the time comes sellout at 3.75 times book which should have grown nicely each year....loans and deposits could really ramp on this texas pure play !!!!! joco VPFG TFSL ORIT BNCL (this one is very cheap !)ESSA ABBC
So Joseph Stillwell is the answer? I have no complaints so long as he adds $$$ to my pocket.
Speaking of selling ROMA and buying something with more value, what do you think about selling, paying the LTCG, and buying HCBK with the leftovers? I have never heard a bad work about that bank.
sure bncl it just came public as mhc and it is trading at 9 or less you can buy for better price then depsoiter not all deals are ROMA THE GREAT yet i really like bncl at 9 , i guess i liked it at 10 too : ) depsoiter lose 10% ,,,,,,,i think one way to play this gam e is after market , wait for marketrs like this and buy ! isbc traded 9.90 and bfsb traded 9;50 in 05 just wait and buy sub issue high quality deals......roma the great : 0 ) maybe roma will buy rblg ??? joco