ASRV's quandary is how it will raise capital without diluting common shareholders into oblivion? If we add to this the fact that dividends will not be paid for the foreseeable future, one must wonder why anyone would own common shares?
Let's see, this is a bank with a 7.7% tangible COMMON ratio, better than almost all the large banks, and has reserved more than a 100% its non performing loans. To say the least, it is premature this talk about dilution.
It is never premature to plan. May I suggest that the future is closer than you may wish to think, especially given the need to avoid a 9% interest rate? The following relates to where I am coming from: