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LOL!
Maybe, maybe not major tax loss selling.
Place your bets. Volume comes in and one would think major move, one way or the other.
Cheers!
GRAN- needs to re-visit the $3 level...
We shall see... only 35k vol...
day not over yet ... still have Friday, yes?
Cheers!
Hi Pie:------------------------------------
Not such a great year end special going on today! No Grand Blue light Kmart deal...... I got some .46's and .47's week or so ago, so guess someone knows they are getting a buyout?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=58073350
Hey someone is deleting
your CFW messages? WTF?
Gonna be a GRAN day pretty soon?
Did you catch the news article on PBS last night about consolidation in the regional banking area? Couple of buyouts announced and assumed that other copy cat deals would follow.
Perhaps the reason for yesterday's nice pop?
Have to check for names of buyouts announced, but were an all stock deal which moved pps of smaller bank up a bit...
Hancock takes over Whitney and Whitney up 29% on news...
go to 8:16 time in broadcast...
OOOOOOOOOOOOOOOPS! GRAN gonna have its BIG YEARLY POP.....FO SHO......HAPPY HOLIDAYS TO YOU. Hammer
Actually I'm a
Crazy analytical woman...LOL!!!!
Merry Christmas to you Hammer :)
EASY MY MAIN.......ITS GONNA HAPPEN THIS NEXT 2-3 WEEKS. Hammer
Once the cease and desist is lifted....
It will pop and not look back at these levels.
Here's an article I found about another bank and
what's involved.
There is also an article floating around on the
web somewhere, about fradulent checks? Something
like that pertaining to GRAN...so they halted certain
practices(mortgage underwriting, etc.) to keep the bank sound.
I feel this will be lifted.
http://www.kxan.com/dpp/news/local/Austin_bank_ordered_to_improve_finances
GRAN seems to be one of regionals that has not popped back ..
Perhaps its just the area- but CASB and others have done a reversal of sorts..
check out the short interest...
Short Interest (Shares Short)
364,600
Days To Cover (Short Interest Ratio)
21.3
----
could be a nice pop
Thanks, Other online brokers may have same information on "gainskeepers".
Doing the "dance" will result in the same number of shares at the current market value but allow for a "reduction" in tax costs with respect to gains in other trades?. But will have to purchase "new" first, then sell the "overpriced" originals afterwards.
I notice the online brokers are being required to provide 2011 tax statements in gainskeeper format as opposed to the gross proceeds forms they now provide.
About the 3rd QUARTER WIDER LOSSES..Uh huH!!!
Not really as I see it.....am I wrong?
1. loss of 4.3 compared to 3.7 a year earlier
difference -$600,000
2. Interest also fell from 8.2m to 7.4m(stopped underwriting
mortgage loans is why, part of the cease and desist understanding.) difference -$800,000
3. -$600,000 + -$800,000= -1.4M
BUTTTTTTTT
4. Other income GREW to 3.3M from 2.2M.. a PLUS +1.1m
5. AND non interest EXPENSES DROPPED from 9.3m to 7.7m
another PLUS + 1.6m saved.(due to salary and benefit cuts)
6. + 1.1m + +1.6m = +2.7m
and we end up with (+2.7m - -1.4m) making a POSITIVE 1.3M!
Looks overall to be positive IMO
Link-
http://www.bizjournals.com/triad/news/2010/11/15/bank-of-granite-loss-rises.html?ana=yfcpc
You do have the option to choose the 'lot'
You want to sell....if you don't choose, it's 'first in'
'first out' (first purchased is first to sell)
If you're trading on line, etrade for example,
go to your portfolio and look to the left or right hand
side for a + or - symbol next to your gran symbol(+ sign is what appears using e-trade) or something saying 'choose lot'
It will show you the list, dates, and prices you've accumulated.
Then click the box of the ones you wish to sell.
If you can't figure out how to do it, call your online broker
and ask how to chose the lot you wish to sell. It's easy.
Yes, you can choose to sell the $1 lot.....leaving the .48
lot to carry forward, yes, you can....I've done it.
Im trading out of a roth. I dont worry about taxes. However, I have to wait on my reward, unlike the others. :)
The run to $3- In May, was short lived. Current short interest is:
Short Interest: 364,600
Days To Cover: 21.3
Which could cause/add some "popability" to PR news?
Had CASB a while back and watched it recover nicely to over 80 cents for a few days on short covering.
--------
Here's a GRAN tax question... You know if:
Say you had 50 shares of Gran now right now; 25 shares bought at $1 a while back, and 25 shares bought just a week ago at.48
If you buy another 25 shares at .48 on Monday, then sell the 25 purchased at $1 on Wednesday, you get the tax loss of (25 x $1) for 2010. But now have 50 shares with cost basis of .48 to carry on into 2011???
Know that if you sell first, then re-buy within 30 days, you lose the tax loss value for the current year? Sorry if stupid question, just wondering. cheers
Without news or a campaign....looks tough. Did you see the run to 3.00 while back. That was from a NPR reporter doing a story on GRAN. We need to raise awareness on the stock. Its so far under the radar. If the share price was higher, the Ceo would have more options. Otherwise, now he has two options at the current state. Let the company leave the big boards, do a RS, or spend money for marketing. I dont think the latter is an option. Anyhow we will see how it plays. Im adding some in this range. Saving some dry powder if the other two options play out. <<<Again, thats all my opinion.
Pop about now might be nice... 70 cents on short term? But what is their chance of getting pps back to $1.00 by March? Quite a bit of volume this past few weeks..
Hope Scott is still optimistic about people selling a $4 stock for only 47 cents???
http://investorshub.advfn.com/uimage/uploads/2009/11/8/tbztqGRAN_08.11.2009jpg.jpg
Its setting at a triple bottom. Typically, GRAN pops at these levels.
And they don't have a response to Nasdaq as of yet.....
Maybe, just maybe, I HOPE, cease and desisit is removed
at least 30 days prior! Pop over $1 and forward from
there.....
GRAN De-listing Date: 03/21/11
the Company has a 180 day grace period until March 21, 2011 to regain compliance with the minimum closing bid price requirement. To regain compliance, the closing bid price of the Company's common shares must meet or exceed $1.00 per share for at least ten consecutive business days prior to March 21, 2011.
WOW,,, GRAN made it through another week...
Looking Good? Looking better buys @.45?
We sure need a POP....
------------------
Regulators on Friday shuttered three small banks in Georgia and one each in Florida, Arkansas and Minnesota, raising to 157 the number of U.S. banks brought down this year by the struggling economy and soured loans.
The Federal Deposit Insurance Corp. took over the three Georgia banks: Appalachian Community Bank of McCaysville, with $68.2 million in assets; Chestatee State Bank, based in Dawsonville, with $244.4 million in assets; and Atlanta-based United Americas Bank, with $242.3 million in assets.
The FDIC also seized Bank of Miami, based in Coral Gables, Fla., with $448.2 million in assets; First Southern Bank of Batesville, Ark., with $191.8 million in assets; and Community National Bank of Lino Lakes, Minn., with $31.6 million in assets.
OPI....GRANITE LONGS GONNA GET THE POP WE ALL DESERVE. Hammer
1 more link re: Cease and Desist
Bank of Granite has stopped certain practices, mainly
underwriting gov. backed home loans I believe, correct me
if I'm wrong.....any way the cease and desist is to stop certain
practices, I'm SURE they're complying with what ever FDIC
requests....here is what the cease and desist orders say...
http://www.calculatedriskblog.com/2009/06/fdic-104-cease-and-desist-orders.html
FYI-They paid dividends for years too.
Failed bank LINK.....
'2' on the whole list are in NC
Totally speculative, but I'm acumulating as I can!
http://www.fdic.gov/bank/individual/failed/banklist.html
Another link about Bank of Granite
History.....notably.....survived WWII, great depression,
info about the bank officers, etc., good read. SCROLL DOWN
THE PAGE to read about it's LONG history
http://www.answers.com/topic/bank-of-granite-corporation
Some info on Bank of Granite....
I have a few links for info...here's one from FDIC
GREAT REPORT...read thoroughly....not majority of loans
are 38.2% being commercial/largest $ amount.
Also, non profit organizations, they are VERY active
in the community and VERY well liked.
More links to follow.
http://www2.fdic.gov/crapes/2009/05950_090427.PDF
Patience, TIC-TOC, low float = short sizzle AGAIN! IMO
Did same last December ... 4-bagger, 50 cents to 2 bucks.
There's always this...
http://www.fdic.gov/bank/individual/failed/banklist.html
But I reckon compliance or possibly a "buyout/merger" of sorts is higher percentage call here. Play'n the odds with obamamoney ... LOL!
That .50 down tic by MMs in Sept. could have been the final signal. We shall see.
Patience, TIC-TOC, low float = short sizzle AGAIN! IMO
Did same last December ... 4-bagger, 50 cents to 2 bucks.
There's always this...
http://www.fdic.gov/bank/individual/failed/banklist.html
But I reckon compliance or possibly a "buyout/merger" of sorts is higher percentage call here. Play'n the odds with obamamoney ... LOL!
That .50 down tic by MMs in Sept. could have been the final signal. We shall see.
Hey buddy, Im in GRAN TO THE TUNE of 15,000 shares.....I like our odds for a HUGE BOUNCE. Hammer
I have been adding as well......just a matter of TIME before we get SUPER POP.......and GRAN has been SHORTED HERE. Hammer
Hey buddy, I own GRAN.........20,000 shares and Im DOWN HERE, but I am in cause they are gonna BOOOOOOOOOOOOOSH. Hammer
Hammer ; good post; any reevaluation now? r u in any as long? Can you do any charts for the most likely turn around stories/
GL
tia
mlkr
My guess is the reason its going down is because it has been unable to maintain 1.00 or better.
It still has hung on at least not closed by now.
I figure they are in depressed area? home furnishings production as part of the economy? They didn't get stimulus money from the small biz bill? Have some long shares, may put extra if a bottom appears.
Rest of this month may be partially due to tax loss selling?
I want to see nonperforming assets look better. That should be priority number one. Honestly, I dont think we are getting any help here. We are gonna have to pull ourselves up by the boot straps. Lean operations, look at every site as a stand alone. If its losing money close the branch and absorb it into another. Now is the time to make tough choices. We dont want the choice to be made for us.
Tax loss selling season for some now? But getting picked up quickly by others....
Did it really bottom...... in JUNE?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=51338507
Not sure: but Bolie's are not getting any tighter?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=51338414
AND, Friday's chart sure looks like November 9th!!!!
May not have to wait that long...
CASB was in same boat... Small Biz Bank Bill?
http://ih.advfn.com/p.php?pid=nmona&article=44890165&symbol=CASB
GRAN may be next.......................
Little late Friday afternoon buying in anticipation?
How will they do with the Small Biz Bill recently passed?
Anyone know the % distribution of Commercial/Residential loans on their books?
If they have chance at added financing will some real buyout interest start now?
Good pops in January and April-- About due for another!
I live in the area that Bank of Granite services. I have noticed that the economy and jobs are looking better these days. I honestly feel that the bank will make it, and those who stuck will prosper.
http://stockcharts.com/h-sc/ui?s=GRAN&p=D&yr=0&mn=3&dy=0&id=p58668805274 stock looks like its going to reverse here.
Regional Bank- Private Equity "Bailout" possible?
Possible Private Equity-style "Bailout" of GRAN? Coming to a regional bank near you?
Sort of GRAN-related, as Sterling was in similar situation, and got Private Equity assistance with capital reserves, then Feds relaxed a bit? Would make a nice pop with low float on this NEWS, right? Now it's a real cheap buy??
Found this on one yahoo board-- sort of rehashing, and grabbing for straws, but perhaps a White Knight will arrive next Friday afternoon rather than a black sedan from the FDIC?
-----------
Spokane-based Sterling Savings Bank pulls $730M into its bank with equity firms and private investors, follows regulatory orders.
BY BILL ROBERTS - broberts@idahostatesman.com
Copyright: © 2010 Idaho Statesman
Published: 08/21/10
Spokane-based Sterling Financial Corp., the holding company for Sterling Savings Bank, announced Friday that it has commitments to raise $730 million in capital. The bank has been under a directive from Washington State and federal regulators since October to increase its capital ratios and improve its safety and soundness. Bank officials made a commitment to regulators that they would raise $720 million.
Now wouldn't THAT be just GRANd
About 775 banks nationwide are under similar orders as financial institutions slog through the Great Recession, said Gavin Gee, director of the Idaho Department of Finance, which regulates two of the troubled banks because they're state-chartered.
Sterling Financial Corporation, the holding company for Sterling Savings Bank, has reached agreement with a Boston-based private equity company for the company to invest $134.7 million in the bank, contingent on Sterling raising at least another $585.3 million.
The total amount, $720 million, would mean Spokane-based Sterling Savings Bank would meet regulatory requirements for its capital levels.
Two private equity companies, Thomas H. Lee Partners, in Boston, and Warburg Pincus Private Equity, out of New York, agreed to increase their previous commitments by a total of $64 million to $342 million. The bank also announced a commitment for private placement of stock with 30 investors for $388 million.
Once the deal is completed, the two equity companies would each own 22.6 percent of the bank.
Along with the commitments from investors, the U.S. Treasury agreed to convert $303 million in preferred stock it invested in the bank as part of the Troubled Asset Relief Program. The Treasury Department will convert that to common stock and sell it when it chooses. The bank will not have to pay quarterly dividends on the preferred stock or repay the initial stock investment, bank officials say.
"This commitment of $730 million in new capital represents a major milestone in our recovery plan, and one that will substantially strengthen our capital ratios and provide a solid base for rebuilding long-term franchise value," said Greg Seibly, Sterling president and chief executive office
SOME REGIONALS TO PUT ON WATCH: CADE,CBC,CACB,TRUE,CRBC,CWBS,CSHB,FBP,FMAR,FNBN,HMPR,IBCP,IBNK,and yes DEAR,GRAN,CASB.......... CADE,CACB,TRUE,CWBS,FNBN,IBANK, charts all looking very good.....Hammer
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