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Community Bank Shares of Indian Message Board

  • sophia.leghorn sophia.leghorn Jan 25, 2012 3:59 PM Flag

    ONB buys INCB

    INCB TCE was about $66,000,000. NPV based on $0.38 sustainable quarterly earnings was about $60,000,000. ONB paid 79,200,000. Applying the same logic to CBIN... TCE is $52,000,000, NPV based on $1.50 sustainable yearly earnings is $64,000,000. One might assume that CBIN could be bought for about $20. Both INCB and CBIN had about the same TARP amount; CBIN TARP was converted to SBLF so terms are a lot better. ONB will pay INCB's TARP!!! Nice deal.

27.370.00(0.00%)Jun 30 3:59 PMEDT