doctor....pain, Good post. FFKT is indeed a risky play......However the long term rewards could be handsome....If FFKT management is able to cut costs significantly and manage the balance sheet well.....Than they have a good chance to be a sucessful turnaround IMHO....
I agree Isaiah. Then why do you continue to tout Farmer's stock while never warning of the bank’s perilous financial condition. You are the company's current cheerleading captain, replacing Sara who thought FFKT was a bargain at $25. You recommended buying the stock back in March when it was selling for over $10. As a seasoned investor, I can only assume that your stop-loss kicked in.
Just curious. Have you noticed that problem loans are approaching tangible net worth? Are you concerned that many seasoned hands have been fired or quit? Do you recognize the seriousness of the situation when regulators reprimand a bank for poor performance, and engaging in unsound baking practices, calling attention to "hazardous lending and lax collection?"
You keep alluding to a successful turnaround, surprise earnings and a stock breakout. What do you really known about the management of this sick bank that the entire investment community seems to have overlooked?
Shady Fellow® It is better to know some of the questions than all of the answers.
I am what they call "OLD MONEY" and that applies most aptly to being a long, and very long years investor of FFKT stock. In fact I just turned 100 yesterday. I bought 100,000 new shares to commemorate this landmark day in my life!
Who cares what is going on at the bank??!! Farmers has survived and thrived through every perilous and sobering national economic crisis in my lifetime as well as throughout the previous century. It did not close in the Depression or Post-WW II recession, or this past year, or whenever Watergate struck home, or when the railroads were king then were a thing of the past, and so forth and so on.
Farmers is an excellent bank. I go there 3x a week to check on my portfolio. 50% invested in FFKT!! They look out for all of my business affairs - property and real estate, stocks, insurance companies, and my law firm. All my clients keep their checking accounts at FFKT. You should give them a vote of confidence, and not try to psychoanalyze their internal management when you can realize that they always come out way ahead even in the most financially challenging and difficult times like those of the past two years.