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Fiduciary/Claymore MLP Opportun Message Board

deskandchairs2004 3 posts  |  Last Activity: Nov 16, 2014 8:05 PM Member since: Aug 25, 2004
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  • Reply to

    shriveled bank?

    by williamjohnsonfamily Nov 14, 2014 10:28 AM
    deskandchairs2004 deskandchairs2004 Nov 16, 2014 8:05 PM Flag

    I believe the phase out of the Trust Preferred structure for purposes of regulatory capital calculations only applies to institutions over $15 billion.

  • Reply to

    shriveled bank?

    by williamjohnsonfamily Nov 14, 2014 10:28 AM
    deskandchairs2004 deskandchairs2004 Nov 16, 2014 8:03 PM Flag

    'Shriveled' is a reference to reduced size. I thought that observation would not be something subject to debate nor likely to give offense. For perspective, compare recently released f/s to those of 3rd qtr 2009 (which I just happen to have available): total loans were $7,523k compared to $2,129 at 3rd qtr end 2014. More importantly, net interest income shrank (or perhaps 'shriveled') from $72k to $37k. The likely source of capital growth is earnings. But as I point out in my original post, there has been a reversal of fortunes in that regard. All key components of the income statement are negative compared to 2nd Qtr, (i.e. net interest income before provision, non interest income and non interest expense). So, it appears that the benefits of improved credit quality are not producing sustainable levels of income, a little more shriveling

  • Reply to

    FBS-A latest 10-Q on it's way

    by williamjohnsonfamily Oct 27, 2014 4:23 AM
    deskandchairs2004 deskandchairs2004 Nov 12, 2014 5:03 AM Flag

    I quibble over the details of your comment only. The loan collection is a balance sheet transaction. The notable impact on the income statement was the $5 million negative provision, which certainly is a nonrecurring item. Perhaps 'Income from continuing operations before provision (benefit) for income taxes' is the best metric for understanding business trends. If you take the negative provision out of this quarter's results, you get $4,222(k) compared to $8,150(k) for the prior quarter. So that is far from "no profit". However, there seems to be deterioration in all the income and expense categories, which is a story in itself. One can hope that the write downs in non interest expense, which accounts for the majority of the net income decline, is also nonrecurring for the most part. Improving credit quality is not falling to the bottom line in a sustainable way. Focus now has to be can they operate and grow earrings of this shriveled bank now that credit quality recovery dynamics should no longer be The Story. Can they limp along like this and keep the regulators happy?

FMO
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