Dearborn Banc Corp fka DEAR

[Renee]

DEAR CUSIP suspended. FINRA deleted symbol:

http://otce.finra.org/DLDeletions

[Juschilln]

Is this thing alive?

[kranthikumar]

DEAR is already crossed 100%.now at 132%

[kranthikumar]

DEAR is up by 114%

[56Chevy]

These [DEAR] were dead shares walking over a year ago.

Huntington buys Michigan’s Fidelity Bank from FDIC

Apr 2, 2012, 10:41am EDT

http://www.bizjournals.com/columbus/news/2012/04/02/huntington-buys-michigans-fidelity.html

[unclemike12]

Thanks, I've watched this for a few years now. Remember when it was at 3$ not that long ago. Small banks in MI are hot right now. Real estate is moving like crazy. I think this is worth the risk. Just my opinion.

[JohnCM]

Dearborn Bancorp, Inc. operates as the holding company for Fidelity Bank that provides banking services to individuals and businesses in Michigan. It accepts various deposit products that include checking accounts, savings accounts, money market accounts, certificates of deposit, business checking accounts, and direct deposits. The company?s loan portfolio comprises commercial loans for general business purposes, including working capital, accounts receivable financing, machinery and equipment acquisition, and commercial real estate financing; residential real estate loans; consumer loans consisting of home equity lines of credit, loans secured by new and used automobiles and boats, and overdraft protection for checking account customers. In addition, Dearborn offers travelers? checks, cashiers? checks, wire transfers, safety deposit boxes, online banking, telephone banking, collection services, night depository services, check imaging options, including statements on CD ROM, online banking services, insurance agency services, and internal auditing services to financial institutions. It operates 17 banking offices in Dearborn, Dearborn Heights, Plymouth Township, Canton Township, Clinton Township, Southgate, Auburn Hills, Saline, Ann Arbor, Birmingham, Bloomfield Township, Bingham Farms, Southfield, and Shelby Township in Michigan. The company was founded in 1992 and is headquartered in Dearborn, Michigan.

[JohnCM]

I'll check it out ...

[unclemike12]

Anybody else notice that when u click the link to their website on google finance it sends you to HBAN page? Did $HBAN pick up Dearborn???

[TRUSTUNITS]

I typed in DEAR for fun

[TRUSTUNITS]

Strange stock symbol

[mkinhaw]

close .20 now .35
MK

[mkinhaw]

.26 now
on watch
MK

[mlkrborn]

DEAR $0.35 upon moving to OTC.
Dearborn Bancorp, Inc. to delist from Nasdaq and commence quotation on OTC Markets under same ticker effective Nov 28 (DEAR) 0.43 +0.01 :

[mlkrborn]

DEAR $0.57 vs CRBC 0.33 pre-split!

[mlkrborn]

DEAR 1.17 vs CRBC 0.67 after CRBC announced 1 for 10 R/C.

[stocktrader001]

Dearborn Bancorp Inc. Reports Operating Results (10-Q)

May. 13, 2011 | Filed Under: DEAR

Dearborn Bancorp Inc. (DEAR) filed Quarterly Report for the period ended 2011-03-31.

Dearborn Bancorp Inc. has a market cap of $10.2 million; its shares were traded at around $1.3301 with and P/S ratio of 0.2.

Highlight of Business Operations:
The Corporation reported provision for loan losses of $1,395,000 for the three month period ended March 31, 2011, compared to $100,000 for the same period in 2010, an increase of $1,295,000. The provision for loan losses were primarily due to net charge-offs during the three month ended March 31, 2011. Net charge-offs during the first quarter of 2011 amounted to $1,395,000. The charge-offs recorded during the first quarter of 2011 had allocations of $396,000 in the allowance for loan loss as of December 31, 2010. The difference between the charge-offs recorded during the three months ended March 31, 2011 and the allocation in the allowance for loan losses at December 31, 2010 was primarily due to full charge-offs taken on loans which are not specifically analyzed because the outstanding balance of those loans were less than $500,000. These loans were assigned an allocation based on historical charge-offs. The Corporation’s policy is to specifically analyze all impaired loans with a balance over $500,000. The Corporation also reported write-downs on real estate of $326,000 for the three months ended March 31, 2011 compared to $656,000 for the same period in 2010, a decrease of $330,000 or 50%.


2011 Compared to 2010. As noted on the chart on the following page, net interest income for the three month period ended March 31, 2011 was $8,569,000, compared to $8,055,000 for the same period in 2010, an increase of $514,000 or 6% for the period. This increase was caused primarily by the decline in the cost of liabilities. Similarly, the increase in the Corporation’s net interest spread and net interest margin was primarily due to the decline in the cost on interest bearing liabilities. The Corporation’s interest rate margin was 3.96% for the three month period ended March 31, 2011 compared to 3.47% for the same period in 2010. The Corporation’s interest rate spread was 3.84% for the three month period ended March 31, 2011 compared to 3.27% for the same period in 2010.


2011 Compared to 2010. The provision for loan losses was $1,395,000 for the three month period ended March 31, 2011, compared to $100,000 for the same period in 2010, an increase of $1,295,000 or 1295% for the period. The provision for loan losses were primarily due to net charge-offs during the period, which amounted to $1,395,000 for the period and was substantiated by management’s internal analysis of the adequacy of the allowance for loan losses.


Non-accrual loans were $71,953,000 at March 31, 2011 compared to $66,563,000 at December 31, 2010, an increase of $5,390,000 during the three months ended March 31, 2011. This increase was due to the migration of primarily previously identified classified loans. These loans have been identified as impaired loans and have been charged down to the value of the collateral or an appropriate reserve has been identified in the allowance for loan loss. Of this increase, all but approximately $1,183,000 were identified at December 31, 2010 as classified loans with reserves for losses established accordingly.


2011 Compared to 2010. Non-interest income was $75,000 for the three month period ended March 31, 2011 compared to a non-interest loss of ($59,000) for the same period in 2010. The increase in non-interest income was primarily due to the decline in the amount of write-downs on other real estate during 2011. During the three months ended March 31, 2011, the Corporation recorded write-downs on real estate in the amount of $326,000 compared to $656,000 during the same period in 2010.


When transactions related to other real estate and securities are excluded, non-interest income for the three month period ended March 31, 2011 amounted to $477,000 compared to $539,000 during the same period in 2010, a decrease of $62,000 or 11% for the period. This decrease is primarily caused by the decrease in the service charges on deposit accounts and the gain on the sale of loans during the period i


http://bit.ly/kW0qj0

[stocktrader001]

Dearborn Bancorp Reports First Quarter Profit

DEARBORN, Mich., April 19, 2011 (GLOBE NEWSWIRE) -- Dearborn Bancorp, Inc. (Nasdaq:DEAR), the Holding Company for Fidelity Bank ("Bank"), today reported a net income of $154,000 or $0.02 per fully diluted common share for the three months ended March 31, 2011 compared to a net income of $1,128,000 or $0.15 per share for the three months ended March 31, 2010. The Company's Shareholders' Equity of $26,994,000 equates to a tangible book value of $3.51 per share compared to the market closing price of $1.42 on March 31, 2011. In accordance with regulatory capital guidelines, the Bank remains "undercapitalized" at March 31, 2011.

At March 31, 2011 the Company's total assets were $896,994,000 compared to $970,669,000 at March 31, 2010. Total loans were intentionally reduced from $813,961,000 to $718,187,000. Total deposits declined from $852,017,000 to $794,153,000. Cash and cash equivalents increased from $79,002,000 to $103,310,000, and securities available for sale increased from $46,267,000 to $53,117,000. During the last year, the Company has continued to focus on strategically reducing loan balances to conserve capital while increasing the liquidity of the balance sheet.

Michael J. Ross, President and Chief Executive Officer of both the Company and the Bank, announced the financial results and commented, "The Bank continues to generate solid core earnings. First quarter 2011 earnings were $154,000 net after expenses of $1,395,000 in loan loss provision, $326,000 in write-downs of other real estate owned, $1,180,000 in defaulted loan expense and $950,000 in FDIC insurance premiums. Net charge-offs for the first quarter of 2011 declined to $1,395,000 compared to $4,937,000 for the first quarter for 2010. Non-performing loans remain unacceptably high at $120,688,000. Included in this category are $42,205,000 of restructured troubled debt loans which are current according to their restructured terms."

Mr. Ross continued, "The net interest margin grew to 3.96% for the quarter ended March 31, 2011 compared to 3.47% a year ago, primarily as a result of improved deposit pricing. Additionally, management continues to maintain tight control over operating expenses in the areas of wages, occupancy, marketing, stationery and supplies, data processing as well as certain discretionary expenses.

Ross concluded, "We are beginning to see the results of declining Michigan unemployment which is now at 10.7% at March 31, 2011 down from 14.6% as of December 31, 2009. While we are showing some positive signs in 2011, the determining factor as to whether the Company can be solidly profitable in future quarters remains dependent upon the appraised value of collateral and level of charge-offs and write-downs. Thus, our primary concerns for 2011 are the recovery of the Michigan economy, credit quality, and the stability or improvement of the underlying collateral values in our loan portfolio."

Dearborn Bancorp, Inc. is a registered bank holding company. Its sole banking subsidiary is Fidelity Bank. The Bank operates 16 offices in Wayne, Oakland, Macomb and Washtenaw Counties in the State of Michigan. Its common shares trade on the Nasdaq Global Market under the symbol DEAR.

http://bit.ly/fGAp5d

[stocktrader001]

$DEAR on the run. 1.50$

[mlkrborn]

DEAR $1,35 vs CRBC 0.82!

[Hammer1]

DEAR has been HELD IN CHECK FOR TOO DAMN LONG....READY....BUMP. Hammer

[mlkrborn]

DEAR 1,47 vs CRBC 0,80!

[ClarkKant]

Quietly watching this one for a long time now. Snatched up some cheapies today. I have faith here that things will turn around and there are some signs of that despite the reported loss. GLTA

[stocktrader001]

DEARBORN, Mich., Feb. 4, 2011 (GLOBE NEWSWIRE) -- In a release published earlier today by Dearborn Bancorp, Inc. (Nasdaq:DEAR), please note that the second and third paragraphs have been updated. Additionally, please note that no financial figures were adjusted in the process. The updated release follows:

Dearborn Bancorp, Inc. (Nasdaq:DEAR), the Holding Company for Fidelity Bank ("Bank"), today reported a net loss of $2,379,000 or $(0.31) per fully diluted common share for the three months ended December 31, 2010 compared to a net loss of $5,806,000 or $(0.76) per share for the three months ended December 31, 2009. For the year ended December 31, 2010, the Company's net loss was $14,249,000 or $(1.86) compared to a net loss of $61,175,000 or $(8.00) for the same period in 2009. The Company's Shareholders' Equity of $26,959,000 equates to a tangible book value of $3.51 per share compared to the market closing price of $1.65 on December 31, 2010. In accordance with regulatory capital guidelines, the Bank remains "undercapitalized" at December 31, 2010.

Historically, in 2009, the Company recorded a $25,851,000 valuation allowance against its entire deferred tax asset, recorded a $5,451,000 tax refund from the expansion of a net operating loss carryback from two years to five years, and wrote-off its remaining $3,997,000 intangible assets related to acquisitions completed in 2004 and 2007. Additionally, in March 2010, the Company recorded an additional $10,000,000 in provision for 2009 based on information that became available that was indicative of credit quality issues as of December 31, 2009. Regardless of the adjustments, 2010 was a substantial improvement over 2009 in terms of net loss, operating expenses, and net interest margin.

At December 31, 2010 the Company's total assets were $915,684,000 compared to $986,486,000 at December 31, 2009. Total loans were intentionally reduced from $833,136,000 to $735,851,000. Total deposits declined from $867,955,000 to $812,101,000. Cash and cash equivalents increased from $77,497,000 to $93,775,000, and securities available for sale increased from $45,964,000 to $54,561,000. During 2010, the Company focused on strategically reducing loan balances to conserve capital while increasing the liquidity of the balance sheet. Michael J. Ross, President and Chief Executive Officer of both the Company and the Bank, announced the financial results and commented, "We continue to operate in a troubled condition; however, 2010 began to show some positive signs of improvement. Non-performing assets peaked in March of 2010 at $138,494,000 and have slowly declined each quarter thereafter to $136,592,000, but still remain at elevated levels at year end. Included in the year end non-performing assets was $48,527,000 in troubled debt restructured loans which were all current according to their restructured terms. Net charge-offs for 2010 were $23,132,000 compared to $30,190,000 for 2009, an improvement of 24%. Other real estate owned also dropped from $23,435,000 to $21,502,000, an 8% decline. During the fourth quarter of 2010, due to the efforts of our Special Assets team, we had significant sales of other real estate owned in the amount of $8,081,000. During the quarter we began to receive multiple bids on bank owned properties versus nominal bids on properties marketed a year ago. We anticipate improvement going forward, primarily as a result of fewer additions to non-performing assets as well as a higher level of sales of other real estate owned resulting from a marginally more active real estate market in Southeast Michigan."

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Market Activity
Dearborn Bancorp Inc.| DEAR
Mr. Ross continued, "The core operations of the Company continue to produce income to offset the high cost of FDIC insurance premiums and the defaulted loan expense associated with resolving problem assets which were $4,125,000 and $4,372,000, respectively for 2010. The net interest margin grew to 3.93% for the quarter ended December 31, 2010 compared to 3.14% a year ago, primarily as a result of improved deposit pricing. Additionally, management continues to maintain tight control over operations and has reduced expenses in the areas of wages, occupancy, marketing, stationery and supplies, data processing as well as certain discretionary expenses during 2010.

Ross concluded, "While we have shown some positive signs in 2010, the determining factor as to whether the Company can be solidly profitable in future quarters remains dependent upon the appraised value of collateral and level of charge-offs and write-downs. Thus, our primary concerns for 2011 are the recovery of the Michigan economy, credit quality, and the stability or improvement of the underlying collateral values in our loan portfolio."

http://www.thestreet.com/story/10997543/3/updating-and-replacing--dearborn-bancorp-reports-fourth-quarter-and-year-end-results.html

[sterlingkuning]

Earnings tba on Friday, Jan 28th ??

[stocktrader001]

lol clear point.thanks for your quick answer.


best to you.

[sterlingkuning]

I'm definitely NOT selling here.... pps well below book value... low float... DEAR earnings still coming up. Chart shaping up. They could very well beat expectations and it could surpass 52 week high.

IMO

[stocktrader001]

im thinking about selling some here. Citigroup earnings faild. whats your thoughts?

[sterlingkuning]

And finally, Dearborn Bancorp Inc. (DEAR) has been fighting its way out of a slump for months now. And, it's winning the war - DEAR has managed to push up and off a handful of key moving averages, and as of today is back above the all-important 200-day moving average line. It's been a volatile mess to be sure, but the higher lows and rising moving average lines while this fight was playing out confirm the premise.

As was the case with Parkervision, the added 'umph' behind this budding trend from Dearborn Bancorp was the progressive increase in buying volume over the last several days.

What you may not know about Dearborn Bancorp Inc., mainly because there's little to no analyst coverage of it, is that the company swung to an operating profit three quarters ago. The trailing numbers look rough, but the earnings trend is unfolding bullishly now.

Source: http://www.smallcapnetwork.com/At-the-Pivot-For-Better-or-Worse-DEAR-CRIS-PRKR/s/article/view/p/mid/2/id/366/

[sterlingkuning]

Bids look large today, ready to break out.

[sterlingkuning]

1/17/11 date for earnings is tentative... would expect the company to announce an official earnings date soon

[sterlingkuning]

Interesting note on Short Interest
Current Short Interest Shares 958,107.00
Current Short Interest Ratio 8.50
Float 6.45 M
Short Interest as % of Float 14.90
Average Daily Volume 141,894.00
Outstanding Shares 7.69 M

[sterlingkuning]

Agree... low volume at the moment...once volume comes in towards earnings, this will explode and any shorts will squeeze imo

[stocktrader001]

its setting up nicley since Jan5.

[sterlingkuning]

DEAR ready to go imo...

[sterlingkuning]

DEAR pullback today, good opportunity to add on the dip imo.
GLTA

[stocktrader001]

indeed. it looks like DEAR is holding steady its 1.75$ range. easy sideways moving. nothing bad about it.

[sterlingkuning]

Thanks... DEAR is looking good here, eye on earnings

GLTU

[stocktrader001]

DEAR 1.81$ Thanks for the earnings date, added to sticky post.

[sterlingkuning]

Nice rise today up 9%, still well below book value of $3.92/share

[sterlingkuning]

Earnings expected January 17 2011. DEAR could see a nice earnings run start soon.

[stocktrader001]

DEAR 1.77$ the financials start the engines. yes sir!

[mlkrborn]

DEAR 1.60 vs CRBC 0.62

[stocktrader001]

DEAR 1.74$ moving nicely.

[stocktrader001]

DEAR is holding up well in this crazy market. looking for a buying opurturnity.

[stocktrader001]

DEAR 1.69$. we are slightly under the 200 day MA 1.79 and right aboove the 50 day 1.62$.
the price sticks in between thoose two lines. it will breakout from here its just a matter of time and direction the break will go.

[alfaspider]

Very true about DEAR. May go back in for some more if it drops a bit . Keep reading about book value- so must be ready to rise when things recover?

GRAN is in NC- sort of depressed area - mostly furniture factory and home loans? so bad loans on both fronts. Have played CASB for a nice pop, and have GRAN position on profits from other trades so can wait. Volume on GRAN is very low so have to wait for pops if they come.. Seems most bad banks have already failed, so might be a matter of time till system starts working?

Have moved mostly into oil and energy areas for next few months to see ...

[UpstateChris]

DEAR is a fairly low volume stock. Technically it is approaching an oversold position. RSI has a way to go, but the stochastic is near bottom. Since this has a fundamental value much higher than the PPS, with decent earnings and a low float, I expect a bounce. Probably a couple weeks out. DEAR has always had the benefit - and drawback - of being low volume, so it doesn't take much to move it up - nor does it take much to drop it when people decide to bank. I think we are in a 1.50 - 2.25 range unless/until good news or record earnings hit. Could be wrong... I have a long position with an average of 1.80 right now...holding for 3+ regardless of how long it takes.

I have looked at GRAN. Been recommended to me a couple times. Other than the huge double pop early this year, I don't see much. It is not technically oversold, so no bounce. The technicals in general are nothing outstanding one way or the other. I know NOTHING about the company from a fundamental standpoint, so they may be on the verge of something huge that I am just missing. My bigger concern is liquidity. I am not sure the size positions you take, but I try to never take positions that exceed 10% of the average daily trading volume for the last 30 days. DEAR is on the verge of that. GRAN is much lower AVERAGE volume (except for the time period earlier in the year when it pop'd). If you are taking a smaller position and can afford to wait, I see no reason why it would not, at some point, pop. You may be holding 3+ months though. Or you can take a longer position and be aware that you may end up selling in steps over several days.

Honestly though, the way it has been trading in the last 30 days, if you are taking a $1000 position and flipping it every couple days you can do well. Not really my game. DEAR has much more liquidity and volatility. Better for flipping, also better technical buy right now for a hold.

Just my thoughts...

[alfaspider]

Yes- was wondered why it didn't pop higher on earnings and near a book value? Out for now- Did well on CASB selling on earnings- here it was so so... look to buy back in at $1.55 if it gets there. Have any info/ideas on GRAN? different area but same sector...

[UpstateChris]

The interesting thing is that most shorts are so due to technical reasons. Fundamentally there is no reason to short this one. As per the most recent earnings it has a cash value of about double the current PPS. Normally large short attacks are combined with blogs or postings (usually on Yahoo!) about how the company is a fraud or going bankrupt, etc. None of those would hold water for DEAR. My guess is people that are selling large blocks are doing so because they bought before earnings expecting a pop back over $2.50, that didn't happen, so they are taking their money elsewhere. Shorts are either unsettled day trades or real short positions that feel that DEAR will drift lower and they can earn a few % points on the technical pullback. While I agree that technically this is on a decline, I feel the reason is really the disappointment after earnings where there was no expected pop. After it falls back a bit it will do what it always does - pop up in typical low float fashion.