IOFB in with really solid quarter. Earnings of .94 versus .80 this time last year. Also .90 last quarter. Loans increased sequentially and y/y. Allowance increased as asset quality is solid. Trades under book. And gives a 3.6% yield. Been in since the 30.40's. And will continue to saty long and strong this wonderful small bank.
To recap.
Growing earnings.
Growing Loans.
Trades under book
Trades at a PE of 8.
And pays you 3.6% while you wait.
I think this stock should trade closer to $40 then $30. I will keep my money parked in it in the meantime. All is just my opinion, and I could always be wrong though.
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