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67 cent one time special dividend would have been nice, but probably better for the long term to lower the float since they are trading at half of book. At what point do they take it private? If there is no market for the shares, no sense in staying public. Of course, they could always purchase exactly zero shares.
Share repurchase!
$1 million doesn't sound like much, but when the float is so tiny, it makes a difference.
https://www.globenewswire.com/news-release/2025/02/04/3020072/0/en/CIB-Marine-Bancshares-Inc-Announces-Common-Stock-Repurchase-Plan.html
I still have 22,150 shares still. I do hope we start seeing a small dividend......even if it's a penny. Just to say we are paying dividends, It would be nice to get some return without having to sell stock to get money out......just my opinion.
Q4 could have been better, but for the year, I can't find much to complain about except the share price being so low. However, now that the albatross of the preferreds is gone, I think shareholders are going to see some dividends in the relatively near future. OS is 1.5 million. Not a lot of owners of this place. XM Rocks, are you still holding a decent percentage of that OS?
Insider ownership was outlined in last year’s shareholder presentation that was covered at the annual meeting. Insider, Director, and Executive team ownership was over 13% at that time.
Would be nice to see some insiders buy some shares here... but this crew in charge hasn't ever purchased any. The last time any insiders ever bought shares was way back when Chuck Ponicki was in charge. That was pre-RS, when this was trading below $1. Those were the days...
They definitely need to grow their pile of capital a bit before they think about dividends... but I would imagine that should be a goal here. Unless the goal is to actually get absorbed by some larger entity or a merger with another small community bank... then the dividend doesn't really make much sense to me. I guess we'll see.
Whoops. Sorry if it came across that way. I just meant that that is one simple scenario for share price appreciation. A buyback would be nice, but unless they want to go private, there aren't many shares to play with. I'm not opposed to the company going private, I just don't think that's the game plan. One thing is certain, getting rid of the preferreds opens up a ton of possibilities and I only see price appreciation from here until it hits a reasonable value.
Where did you see the insider buying activity at? I haven’t looked into that recently….
Nice! Should see appreciation from here.
Tangible book value up to $57.80. Board is going to believe shareholders deserve at LEAST that. I can't believe a share buyback would happen given the float, but at some point, it is simply prudent. They will make moves to get the share price up. Even if that is just by continuing to run the business profitably and insiders making purchases at a 50+% discount, currently.
Still here. I still have 22300 shares……been holding and waiting for this day for a long time. No preferred. Fantastic event. Who would have that the COMMON shares would be the surviving owners…….
Either they are getting it all shined up for sale or there will be dividends flowing soon. $1/yr wouldn't cost them much since the float is so tiny.
Going to have to be buyers willing to pay. Price was ~$50 a couple of years ago.
Maybe they should put up a for sale sign $70/sh
Up about $5.00 on about 8,500 shares traded. Nothing... imagine if this thing actually go some volume... sheeeesh.
Long time coming. I was not expecting it to happen for another year.
Float is nonexistent. That's why it moves 4 bucks on a few thousand shares. XM Rocks used to own a TON. Don't know if he still does. Had to be close to 5%.
Moving Value: $17.45
Book Value: $50.84
This represents a whopping 64% Discount to Book Value.
Health Rating: A (Via Deposit Accounts)
You'd be hard pressed to find a bank trading at this deep of a discount anywhere in the market right now... profits for CIBM are razor thin unfortunately. Definitely worth adding to my watch list here...
Yep. Both are down about 60 percent
Bummer on the timing. Would have been nice to have that margin call hit at $48 or whatever it hit a couple years ago.
I had a margin call on my SIRI. Had to unload about 5,000 shares. On a positive note, they were absorbed pretty well.
People just getting bored of the dead money? Could CIBH agree to a buyout for less than book value? I know banks aren't currently in favor, but this seems way undervalued.
100 shares gets a 6% bump. I'm sure it would be linear, so 10,000 shares traded be a 600% gain. I'll be forced to sell at that point.
It sure will. I want it to be done and over with. I’m sure once the economy takes a turn for the better, we will be in better shape to make things happen.
it will be nice to get those preferreds out of the way.
The redemption of all preferred stock by the end of 2024 remains the top priority for the Company and the
most significant action we can take to build shareholder value. At CIBM Bank, our primary focus is operating
results and safety and soundness, which includes increasing earnings with strategies to improve net interest
margins and operating efficiencies. At our 2022 and 2023 Annual Shareholder meetings, we discussed our
strategic plans for complete redemption of all preferred shares, the timing of those redemptions, potential
challenges, and the many opportunities that follow the redemption process. We have taken important steps
toward our redemption goal, including the 2022 issuance of subordinated debt, and we continue to evaluate
alternative funding sources to supplement current Company cash and future capital distributions from CIBM
Bank (which require regulatory approval), if necessary. Our analysis, provided to shareholders in April,
remains unchanged and we are currently planning the next, and final, redemption to take place in 2024. The
past year is a strong reminder that the banking operating environment is subject to many variables outside of
our control. We will continue to provide our shareholders regular updates regarding the status of and changes,
if any, to our strategic plans.
I have almost 2 percent of the common shares…..why would we want to sell now? I’ve been along for the ride since 1998 or so…….what’s the rush?😜
Chugging along. Banks have been kind of all over the place. At least the ones I follow. Book value is up there and the "responsibility" may be to put up a for sale sign, but I'm not sure that the regulators are going to allow a ton of acquisitions currently, given the failures earlier in the year. Anyone other than me still holding CIBH?
https://www.cibmarine.com/documents/PressRelease_2QFinancials_071823.pdf
Good for the climate? Honestly asking, but CIBH still seems to be undervalued.
https://www.cibmarine.com/documents/PressRelease_2022Financials_012023.pdf
CIB Marine Bancshares, Inc. Announces $4.8 Million Redemption of Preferred Stock
BROOKFIELD, Wis., Dec. 07, 2022 (GLOBE NEWSWIRE) -- CIB Marine Bancshares, Inc. (the “Company” or “CIB Marine”) (OTCQX: CIBH) has confirmed the redemption date for its previously announced second redemption of preferred stock pursuant to its Second Amended and Restated Articles of Organization. Effective December 19, 2022, approximately 26.4% of CIB Marine’s Series A Preferred shares will be redeemed, on a pro-rata basis, at $825 per share. The $4.8 million redemption will be funded by the $10 million of sub-debt issued by the Company during the first quarter of 2022. Documentation has been mailed to all preferred shareholders of record by the Company’s redemption agent, Computershare Trust Company, N.A.
CIB Marine Bancshares, Inc. is the holding company for CIBM Bank, which operates ten banking offices and two mortgage loan offices in Illinois, Wisconsin and Indiana. More information on the Company is available at www.cibmarine.com, including recent shareholder letters, links to regulatory financial reports, and audited financial statements.
FORWARD-LOOKING STATEMENTS
CIB Marine has made statements in this release that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. CIB Marine intends these forward-looking statements to be subject to the safe harbor created thereby and is including this statement to avail itself of the safe harbor. Forward-looking statements are identified generally by statements containing words and phrases such as “may,” “project,” “are confident,” “should be,” “intend,” “predict,” “believe,” “plan,” “expect,” “estimate,” “anticipate” and similar expressions. These forward-looking statements reflect CIB Marine’s current views with respect to future events and financial performance that are subject to many uncertainties and factors relating to CIB Marine’s operations and the business environment, which could change at any time.
There are inherent difficulties in predicting factors that may affect the accuracy of forward-looking statements.
Stockholders should note that many factors, some of which are discussed elsewhere in this release and in the documents that are incorporated by reference, could affect the future financial results of CIB Marine and could cause those results to differ materially from those expressed in forward-looking statements contained or incorporated by reference in this document. These factors, many of which are beyond CIB Marine’s control, include but are not limited to:
operating, legal, execution, credit, market, security (including cyber), and regulatory risks;
economic, political, and competitive forces affecting CIB Marine’s banking business;
the impact on net interest income and securities values from changes in monetary policy and general economic and political conditions; and
the risk that CIB Marine’s analyses of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful.
These factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. Forward-looking statements speak only as of the date they are made. CIB Marine undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements are subject to significant risks and uncertainties and CIB Marine’s actual results may differ materially from the results discussed in forward-looking statements.
FOR INFORMATION CONTACT:
J. Brian Chaffin, President & CEO
(217) 355-0900
brian.chaffin@cibmbank.com
It is undervalued for sure. I wonder what the floor price will be once the next round of preferred shares are taken out. Thoughts?
Earnings out. A solid "meh". Not bad, not amazing. No explicit mention of book value in the PR. It dropped a little, but stock is still trading well under.
https://www.cibmarine.com/documents/PressRelease_3QFinancials_101422.pdf
So when the additional preferred shares are repurchased and taken out of circulation, how long before the common share price appreciates? What is the anticipated share price at this time? Just curious if anyone has a guess…
New website design. Looks a bit like a template, but it's clean.
They posted Q2 on July 13 last year. And between the 12th and 20th years prior, so likely next week.
Thanks! I was asleep at the wheel…….
NITE and MONR are on the bid. This stock is under accumulation for sure. I acquired 300 more yesterday using my dividend from SIRI in my 401k. This will be an interesting three years for sure. Hopefully when all the preferred shares are bough back, we can get a little dividend to reward us for the last 24 years……
My first purchase in 2002 was 500 shares at $25.00/share. That was right before all the “accounting irregularities”. That was also before the 15/1 reverse split. I need $375 a share to break even on those. I’ll take the DCA I have now though.
All time high. Well, at least since I've been following. Brokerage account looking pretty good despite some things I own not looking great. I'll bet XM ROCKS' account is looking phenomenal.
MONR is in the bid again. They typically absorb all the shares that come up for sale based upon my past observations. Someone is trying to scare up some shares on higher volume. We should be over $40.00 by the end of March. Every day that goes by is one day closer to the repurchase of more preferred stock.
17200 shares are wanting to be purchased at $36.50. Not happening…..because anyone that has them knows what they will be worth in the next year or two. Merry Christmas everyone!!!!
News out
CIB Marine Bancshares, Inc. Announces Addition to Board of Directors
BROOKFIELD, Wis., Nov. 19, 2021 (GLOBE NEWSWIRE) -- CIB Marine Bancshares, Inc. (the “Company” or “CIB Marine”) (OTCQX: CIBH) announced today that Ms. Rhonda Hopps, CFA, has been appointed to its Board of Directors, effective November 18, 2021.
Based in the Company’s Chicagoland market, Ms. Hopps has spent the past decade in executive management of charter schools and youth development organizations on Chicago’s south side and currently serves as the Executive Director of Chicago’s Comer Education Campus, an organization that serves over 2,000 youth annually with a dynamic integration of academics, youth enrichment, and college and career preparation. Prior to her service with charter schools, Ms. Hopps served for more than two decades in a variety of positions within the financial industry, including as Director for Red Mortgage Capital’s Chicago, Illinois office; and Senior Portfolio Manager for Allstate Investments, where she managed up to $4 billion in private placement, project finance, and non-rated municipal investments.
“We are thrilled that Ms. Hopps has agreed to join the Board of Directors of CIB Marine. Her extensive financial skills, decades of corporate finance experience, and passion for serving others are an ideal match for a community bank dedicated to supporting the communities we live and work in,” said Mr. Mark Elste, Chairman of the Board of Directors.
He added, “CIB Marine has sought out new Directors up to a year in advance of any anticipated retirements from the Board to ensure a smooth transition for both incoming and departing members of the Board. Through this process, we have been able to pursue another of our corporate goals: to improve the diversity on our Board while adding members with new perspectives and skills. Ms. Hopps will be a strong addition to our Board and we look forward to her insight and guidance for many years to come.”
CIB Marine Bancshares, Inc. is the holding company for CIBM Bank, which operates ten banking offices and five mortgage loan offices in Illinois, Wisconsin and Indiana. More information on the Company is available at www.cibmarine.com, including recent shareholder letters, links to regulatory financial reports, and audited financial statements.
FORWARD-LOOKING STATEMENTS
CIB Marine has made statements in this release that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. CIB Marine intends these forward-looking statements to be subject to the safe harbor created thereby and is including this statement to avail itself of the safe harbor. Forward-looking statements are identified generally by statements containing words and phrases such as “may,” “project,” “are confident,” “should be,” “intend,” “predict,” “believe,” “plan,” “expect,” “estimate,” “anticipate” and similar expressions. These forward-looking statements reflect CIB Marine’s current views with respect to future events and financial performance that are subject to many uncertainties and factors relating to CIB Marine’s operations and the business environment, which could change at any time.
There are inherent difficulties in predicting factors that may affect the accuracy of forward-looking statements.
Stockholders should note that many factors, some of which are discussed elsewhere in this release and in the documents that are incorporated by reference, could affect the future financial results of CIB Marine and could cause those results to differ materially from those expressed in forward-looking statements contained or incorporated by reference in this document. These factors, many of which are beyond CIB Marine’s control, include but are not limited to:
operating, legal, execution, credit, market, security (including cyber), and regulatory risks;
economic, political, and competitive forces affecting CIB Marine’s banking business;
the impact on net interest income and securities values from changes in monetary policy and general economic and political conditions; and
the risk that CIB Marine’s analyses of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful.
These factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. Forward-looking statements speak only as of the date they are made. CIB Marine undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements are subject to significant risks and uncertainties and CIB Marine’s actual results may differ materially from the results discussed in forward-looking statements.
FOR INFORMATION CONTACT:
J. Brian Chaffin, President & CEO
(217) 355-0900
brian.chaffin@cibmbank.com
https://www.globenewswire.com/newsroom/ti?nf=ODM5Nzk1OSM0NTY0NzQ0IzIwODk4NDI=
https://ml.globenewswire.com/media/ZDQ2ZTE0NDktNzU3MC00ODUzLWJjOGEtODIzNjg5ZmVhMDQ0LTExMDE0MTM=/tiny/CIB-Marine-Bancshares-Inc-.png
Source: CIB Marine Bancshares, Inc.
© 2021 GlobeNewswire, Inc.
Do I hear $50? Do I hear book value?
$40!!! No other comment required
Here we go!! All of the trades today were purchases. Nobody selling, everyone buying. Congratulations to those that held……this should continue for four more years.
News out
CIB Marine Bancshares, Inc. Completes $18 Million Redemption of Preferred Stock
BROOKFIELD, Wis., Nov. 01, 2021 (GLOBE NEWSWIRE) -- CIB Marine Bancshares, Inc. (the “Company” or “CIB Marine”) (OTCQX: CIBH) announced that it has completed the $18 million Initial Redemption of its preferred stock on a pro-rata basis, at $825 per share, pursuant to its Second Amended and Restated Articles of Organization. Effective October 29, 2021, CIB Marine transferred the necessary funds to its redemption agent, Computershare Trust Company, N.A., and approximately 49.7% of CIB Marine’s Series A and Series B Preferred shares were redeemed pursuant to the Notice of Redemption and Letter of Transmittal dated October 15, 2021. Any preferred shareholders who have not yet tendered their shares, are encouraged to do so as soon as possible. Questions specific to the redemption process may be directed to Computershare at (800) 546-5141. For any other questions, please contact CIB Marine’s Shareholder Relations Manager, Ms. Elizabeth Neighbors, at (262) 695-4342 or Elizabeth.Neighbors@cibmarine.com.
CIB Marine Bancshares, Inc. is the holding company for CIBM Bank, which operates ten banking offices and five mortgage loan offices in Illinois, Wisconsin and Indiana. More information on the Company is available at www.cibmarine.com, including recent shareholder letters, links to regulatory financial reports, and audited financial statements.
FORWARD-LOOKING STATEMENTS
CIB Marine has made statements in this release that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. CIB Marine intends these forward-looking statements to be subject to the safe harbor created thereby and is including this statement to avail itself of the safe harbor. Forward-looking statements are identified generally by statements containing words and phrases such as “may,” “project,” “are confident,” “should be,” “intend,” “predict,” “believe,” “plan,” “expect,” “estimate,” “anticipate” and similar expressions. These forward-looking statements reflect CIB Marine’s current views with respect to future events and financial performance that are subject to many uncertainties and factors relating to CIB Marine’s operations and the business environment, which could change at any time.
There are inherent difficulties in predicting factors that may affect the accuracy of forward-looking statements.
Stockholders should note that many factors, some of which are discussed elsewhere in this release and in the documents that are incorporated by reference, could affect the future financial results of CIB Marine and could cause those results to differ materially from those expressed in forward-looking statements contained or incorporated by reference in this document. These factors, many of which are beyond CIB Marine’s control, include but are not limited to:
operating, legal, execution, credit, market, security (including cyber), and regulatory risks;
economic, political, and competitive forces affecting CIB Marine’s banking business;
the impact on net interest income and securities values from changes in monetary policy and general economic and political conditions; and
the risk that CIB Marine’s analyses of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful.
These factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. Forward-looking statements speak only as of the date they are made. CIB Marine undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements are subject to significant risks and uncertainties and CIB Marine’s actual results may differ materially from the results discussed in forward-looking statements.
FOR INFORMATION CONTACT:
J. Brian Chaffin, President & CEO
(217) 355-0900
brian.chaffin@cibmbank.com
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Principal Executive Offices
Elizabeth Neighbors, Paralegal and Investor Relations Manager
1930 W. Bluemound Road, Suite D
Waukesha, WI 53186
Phone: 262.695.6010
Fax: 262.695.8319
Email: shareholderrelations@cibmarine.com
CIB MARINE BANCSHARES INC.
Outstanding Shares: 18,135,344 (Mar 31, 2017)
Float: 16,780,711 (Mar 31, 2017)
Company Officers/Contacts
Brian Chaffin (President, CEO)
Patrick Straka (EVP, CFO)
Daniel Rasmussen (EVP, Secretary, General Counsel, Chief Admin. Officer)
Paul Melnick (EVP, Chief Credit Officer)
Elizabeth Neighbors (IR Manager, Asst. Secretary)
Company Directors
Mark Elste (Chairman)
Charles Baker
Brian Chaffin
Mark Henderson
John Hickey
Willard Bunn III
Gary Longman
Charles Mires
Steven Palmitier
Ronald Rhoades
Summary
CIB Marine Bancshares, Inc. is a bank holding company with its principal executive offices in Waukesha, Wisconsin, a suburb of Milwaukee.
CIB Marine Bancshares, Inc. owns and operates CIBM Bank, which serves communities throughout Central Illinois; Indianapolis, Indiana; Milwaukee, Wisconsin and Chicago, IL; through its full-service banking offices. CIBM Bank operates under the name “Central Illinois Bank” in its central Illinois market, “Marine Bank” in its Indiana and Wisconsin markets and "Avenue Bank" in its Chicagoland market.
CIBM Bank offers a full array of traditional banking services, including a broad range of loan products, such as commercial loans, commercial real estate loans, commercial and residential construction loans, one-to-four family residential real estate loans, consumer loans, and commercial and standby letters of credit; acceptance of demand, savings and time deposits; commercial paper and repurchase agreements; and other banking services
CIB Marine Bancshares, Inc. owns and operates 11 branches in these markets
Waukesha, WI
Elm Grove, WI
Indianapolis, IN
Wheaton, IL
Danville, IL
Urbana, IL
Champaign, IL (Midtown)
Champaign, IL
Monticello, IL
Bloomington, IL
Peoria, IL
Volume: | 2,000 |
Day Range: | 32.00 - 32.68 |
Last Trade Time: | 2:12:46 PM EST |
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