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BNC Bancorp (BNCN) Message Board

sambordulac 1 post  |  Last Activity: Dec 17, 2014 6:15 PM Member since: May 25, 2000
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  • Reply to

    Howdy Sam

    by bottomsupinvestor Dec 1, 2014 8:50 PM
    sambordulac sambordulac Dec 17, 2014 6:15 PM Flag

    Howdy to you, Mr. Bottom.

    I have the same problem finding bargains.

    I have decided not to discuss stocks in open forum that's why I disappeared.
    So, thank you for thinking of me and let this be my farewell message.

    I no longer look for average banks on the cheap.

    The ones that are still cheap often come with financial difficulties or very limited prospect for outstanding earnings. Even at 50% off book, they are not nearly as attractive as banks with good, say 15%, ROE if they can be purchased at near book value. I am selling off bits and pieces of those cheap stocks and hope to be able to buy good banks for keep. This means I expect them to perform well for years to come.
    The short list include CWBB, TBNC, CARO, PKBK and USBI. The last two will take time to work out. Even thought they are cheaper, it does not make them more attractive.

    If you take the pretax, pre-provision operating income and add back one-time items, then divide the sum by average asset, you'll find CWBB, TBNC and PKBK has the ability to earn a high pretax return like 2.5% on asset.
    CARO will get there once its mortgage subsidiary stabilize, and it will take a lot longer for USBI's to revitalize its ALC consumer financing arm. TBNC is in a league of its own.

    I owe the the first three names to Mr. Robat. My whole hearted thank you Mr. Rob.

    So, farewell my friends and good luck.

    Sam.

BNCN
17.49+0.06(+0.34%)Dec 26 4:00 PMEST

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