For a small bank, HBKS one of the first to realize that the future is in mobile banking. TOWN and MNRK likely headed for an epic collapse.
Mortgages, investments with Raymond James, Peninsula, real estate brokerage partnerships, ODU football, etc.
If TOWN set all their buildings on fire, MNRK would start looking for matches.
Small banking has no future and it's getting worse all the time. Sounds like he's got a plan.
About 99%. Info. from other jurisdictions says they get stolen a lot, because the criminals can use it for a month or so .. then they toss it and steal another one ... because the police aren't going to act like CSI and try to match it to the tunnel photos just for a toll.
"Income from bank-owned life insurance increased $1.8 million to $2.2 million and $3.0 million for the three and nine month periods ended September 30, 2013, respectively, compared to $399 thousand and $1.3 million for the comparative periods in 2012, largely due to a $1.8 million life insurance benefit recognized during the third quarter of 2013."
Get real ... .02 sucks. Look at tangible asset value. This thing worth about .80 - .90. $1.00 max.
No provisions for losses this time ... but still could only squeeze out .02.
Study the what the academics say ... when the CEO plays golf, companies don't do as well.
While everyone is worried over emerging markets, you are safe with HBKS in Hampton Roads.
I'm just reading the SEC filings; 10-Q:
"· The Company received a grand jury subpoena from the United States Department of Justice, Criminal Division. Although the Company has been advised that it is not a target or a subject of the investigation at this time and we do not believe we will become a target or a subject of the investigation, there can be no assurances as to the timing or eventual outcome of the related investigation;"
Chesapeake will probably do okay, since a lot of people who work in Portsmouth will still move there.