Seacoast Banking Corporation (FL) (SBCF)

[56Chevy]

Well the short answer to your question is - yes I do.

HOWEVER you're connecting some very interesting dots I hadn't considered.

The reason I said that I thought it was still overpriced is because they still have $50MM in TARP debt...that debt may not be to the US Treasury anymore but that doesn't mean those preferred shares went away..they just have a new owner.

The Treasury auctioned off their Preferred shares to an "un-named investor". That new owner very smartly bought $50MM dollars worth of debt for $40MM dollars. That alone was an excellent investment but what if that un-named investor is CapGen?? If it is that would be a positively brilliant move. A quick search didn't reveal who bought the debt...but if it is [CapGen] then this could be the marriage JAXB has been looking for... and that would make CapGen our mystery match-maker.

SBCF needs $50MM... and JAXB raised $50MM....both are Florida banks...CapGen owns significant portions of both... hmmmmmm..

Very good eye here Pagz! impressive! ..this will be fun to see what unfolds.