Plus added more to CD's in other banks. Why bother going to the bank to buy your own CD when you can just buy more HBKS stock?
Virginia Supreme Court ... they will call it the way they see it. No politics involved ... that's probably shocking to people in Portsmouth.
MNRK stock price rocket shot since Jan. 2012 soon headed back to earth ...
“Lender Processing Services provided the media with a “first look” at the company’s mortgage performance statistics for the month of September….LPS counts a total of 3,266,000 mortgages nationwide that are 30 or more days past due but not yet in foreclosure. That tally represents 6.46 percent of all outstanding mortgages…..
Of the more than 3 million delinquent loans, LPS says 1,331,000 have missed at least three payments but haven’t started the foreclosure process. Another 1,328,000 mortgages are currently winding their way through foreclosure pipelines, according to LPS’ data….
All-in-all, there are 4,594,000 mortgages going unpaid in the United States.” (“Number of U.S. Mortgages Going Unpaid = 4,594,000″, DS News)
9% Convertible investors have to be buying the company line: "We're going to appeal and decertify the class." Sure ... not a problem.
So here's RICK on Shark Tank:
"I'm offering 1 share of my company for $11.31.
What, do I hear a question already, sure go ahead ... You're asking: "Why is it not overvalued?" and "Do I take a salary?"
Wait ... I haven't finished my presentation yet."
Four ways to value a small bank. P/E and DCF are only two.
Got two more to go ... uh oh .... doesn't look so cheap now.
1. Could discourage customers.
2. Could discourage employees.
3. Could make potential acquirors mad because bank is pumping up the stock price.
4. Risk to reputation if you don't get a good bid.
5. Puts you in a weaker negotiating position.
But none of that stops a bank from dropping little hints.
pros see a tell-tale problem in the financials. You know, a trained eye can spot these things quickly.
CEO is trying to tell you ... don't sell now. You don't have any risk of a capital raise, so safe to hold on for a sale of the bank. Also, earnings out of the way for another quarter; relax, you've got it made now.
What the professionals look at ... P/E is often misleading.
Wow ... this is just like hi-freq trading on 60 Minutes. I'm going to put my order in from NYC, so it's closer to the trading computers. That should save a few milliseconds.
CEO replaced guy who was temp Pres.; then temp guy walked out; then went over to MNRK with some other HBKS guys. New CEO and CFO did a great job of straightening it out. It's all in the SEC files.
Looks more like painting the tape. I just talked to my broker ... I have my order in to buy tomorrow at 3:59:59 p.m.
You got to love the way the CEO feeds you these little tidbits in the earnings releases. Nice to know. Thanks!