Prime Pacific Financial Services, Inc.(fka PPFS)

[56Chevy]

October 15, 2015 Shareholder Letter

http://www.primepacificbank.com/documents/PTG-Q3-2015.pdf

A quick scan reveals common equity at $13.9MM with an outstanding share count of 9.53MM for a BV of $1.46.

Considering the current market value is $1 that would give us a P/B of 0.69

PPFS is selling at a 30% discount to BV.

Net Income for the nine months ending September 30, 2015 was $783K or $0.08 @ share.

P/E would be 12.5

I think it's fair to say this bank is on sale...(but then few banks aren't these days) :(

At the risk of sounding like a broken record we need the fed to raise rates. :( Just do it.