1st quarter call report is showing a profit of 150,000 for the first quarter and even better the OREO assets are down 30% from 6,600,000 to 4,200,000 in the 90 days since year end. Those alone are events worth mentioning but nothing has come out from the company to let anyone know anything. Perhaps the shareholder meeting will be a opportunity for them to let us know something. Bets on if the local paper will even make a effort to cover any of this. Oh and by the way the stock has moved from 3.00 to 5.25 in the last 60 days. Anybody paying attention? A 75% increase. Something is up and if we're not paying attention it is going to happen right under our nose. ie. if you read it close all the employment contracts for the new folks are for 1 year or less. Why do you think that is? Signed to dumb to know or to stupid to ask...
It is long past time for this company to get back to creating shareholder value instead of just trading businesses with no positive effect for us owners. IMO it is past time for a management change at the top. To much talk and activity but little results. If you can not run the business then get out and let someone in that can. Board is full of bull and has to much Jack Welch star dust in their old tried eyes. Lets move on with someone that can get it done not just talk about how hard it is.
Palmetto Bank sold out to UCB today for around 19 maybe there is some hope for us. Why not we are absent and leadership or plan that make any since. This is likely the reason our stock has be acting up lately. What do you think we would go out for in a sale?
somebody got on the bus today for a few thousand shares. are you willing to share your thoughts and perspective? welcome aboard.
this only works if the collective participates and we all, get better informed as a group than we would otherwise be individually. Any local or other investors interested in joining in? Does anyone know how many stockholder there are in this stock and which are the largest one's. I know Sheppard is the single largest at 7%. We have a rough but improving situation in my opinion but it would be nice to have more info..
Good, maybe we have some new fans of the stock. While I would buy more if available it is not as big a deal for me because we already have a pretty good position. On the book value estimate we need to be sure the value of the tax loss carry forward is factored in since if the news is as good as we think that will be a factor and potentially move it up a buck or two. Interestingly still no coverage in the local paper on this company ? I guess they are waiting for the Greenville News to cover it and then they can cut it out and reprint it.
Someone else has picked up on this one lately. I tried to buy some shares last week but was out bid each time I got close. I would like to add to my position but at the right price. Regardless whoever you are welcome we need more buyers to get this stock price closer to value which I put at 7.50 to 10.00 within 18 months if they do the right things in the process.
Sentiment: Strong Buy
The unemployment rate in the county is improved from over 12 to 6 percent and of the key shareholders I saw no one is interested in selling their position. Oreo assets are down and problem loans are under control according to the locals. If the earnings improve and can be projected to be more consist then there is a income tax loss carry forward that maybe reinstated that should be in the 10 to 15 million dollars amount. This would create a big swing in net worth and other ratios that might get this company a release from the FDIC and a 3 dollar increase in book value per share for this group. SNV did this a couple of years ago. I am looking for some bad news but have not found it yet. Let's hear from some others on this stock, etc.
We should know in the next 60 days or less. After 29 years that is not to long a time see, but as always the sooner the better. Going to a reunion this weekend in Walhalla so there should be plenty of rumors flying around by now with that group.
Yes, that is him. The question I have is he really going to move to Seneca and lead our company? If not he will be only marginally effective. I looked on the company's web page and reviewed the real estate assets they had/have for sell. I pulled the 3 largest and called the brokers and inquired as to asking price, facts, and normal stuff a buyer would ask. Not one of them wanted to meet and show me the property because they had already been sold or had a contract to sale on them. (that they thought was really strong and we would be wasting our time?) If this is true and they can also get the deals closed before quarter end like the realtors think the first quarter release could be interestingly effective for mtg. change, etc. Waiting patiently for the first quarter results.
Out and off the board as of 12/31. I am from the area but do not live there now or for a long time. Family still in the area. New guy is suppose to be Richard Burleson consultant from NC not sure if he is for real full time or just a gate keeper until the board decides what to do next. Call reports filled with the FDIC. Look positive but lack of communication from the company is concerning. My guess is they are waiting to pull together good 4th quarter and good 1st quarter along with maybe getting out from under the FDIC memorandum, change in management announcement to roll it all out at annual meeting in May. All sounds good but unprofessional to have this level of delays and info gaps.