Still paying with the warrant redemption. TARP was a bad deal ... why take it if you didn't need it?
When you have insurance, the ins. co. pays your legal expenses to defend the case. The CEO said in Q2 our legal expenses were high because we had to file a brief on the summary judgment motion. So the company was paying the legal bills itself ... ergo, they don't have ins. to cover this case.
Don't think investors have really focused on this ... if bigger banks are going to buy, they have the stock value to do it.
One Powerball lottery ticket is a bargain at $2.00 ... rare opportunity to make so much money so quickly is probably worth about $100. Buy all you can.
MNRK stock: Should trade more like a mortgage co. Worth more like book. Dropping back after Russell index is digested.
Don't think Hart case is covered by ins. ... this is what 10-K says:
"We have been a defendant in a federal court, pending since March 30, 2009, in the Southern District of New York relating to claims under the Fair Labor Standards Act and New York’s wage and hour laws. Discovery is ongoing. The Company denies any liability in this matter and is vigorously defending the allegations."
Inside ownership is climbing ... it would still be tough though. Crazy outside shareholders are your best defense against an insider deal.
HBKS is the only bank where shareholders read the reports ... other local bank reports go straight in the trash ... which is a real shame, since all that gold-embedded paper is wasted.
Of course, also remember, HBKS doesn't care about making big stock returns because the women in Norfolk have already found the certain road to wealth: marry an older man!
Okay, let's say you lose on the lottery and get zip back. At least you're done; you don't have to worry if it's going to crash after the Russell rebalancing. So I mean ... in my estimation, one lottery ticket must be worth paying $100 to buy it - what a bargain at $2!
Sell: MNRK, now you got $11 and change
Buy: Five Powerball tickets
MNRK topped out; when you look at the difference in upside, it's a great trade!
IWM started to break down in the Spring; usually a bad sign for the markets; then surprisingly, markets reversed and started to run up on low volume ... that carried MNRK with it; then the Russell move. Those inexplicable moves on low volume usually aren't sustainable moves.
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You buy this stock, you're married to it. Probably why they are moving the meeting to the Town Point Club ... well-known for weddings. I now pronounce you "Bank and Shareholder".
potential acquirors stocks are way up!!!!!
You would think they would want to use it to buy something.