Saehan Bank began with equity capital of $77.7 million. During this four years, it received from the parent company $13.0 million, $2.0 million, $59.0 million, and $10.3 million in 2011. With all that, the equity at year end 2011 was $78.1 million. Along the way, asset also shrunk by 25%, to $560 million. The bank made $2.4 million in 2011 but the allowance for losses (ALLL) shrank from $26.2 million to $17.2 million. Without tapping into ALLL, it would still continue the losses. I don't know what Hana see in Saehan, I can't find any appeal in itself.
A while back you corrected my equity figure for the bank. You were right, thank you. (I failed to make the distinction but I was referring to the bank level equity which included funds down-streamed from parent company.)
I am heavy on WIBC, CWBB, and a few shares of HAFC. They seem to be out of the woods. Still not sure about SAEH.
The appeal is locations in the US, including NYC. Hana has been in the US before and sold its bank and now wants back in. 51% at 60 cents a share would only be about 60-70 Million. For Hana a small price for reentry. Hana has relationships in China.
robat, Where did you see that 60 cents a share info? The price seems a bit too expensive. Thank you in advance.
Mr. Sam, stockholders' equity seems to be $58.5 million.
Hana Bank is known for treating acquired banks well. Maybe it sees that there will be a big increase of financial transactions between California and Korea after FTA. But what about NYC? KEB has a wholesale operation in NYC. Maybe that is enough.