Central Virginia Bankshares (fka CVBK)

[Renee]

CVBK: Merged with C&F Financial Corporation (CFFI). $0.32 per share; Deletion Time 13:09:55

http://www.otcbb.com/asp/dailylist_detail.asp?d=10/01/2013&mkt_ctg=NON-OTCBB

[genlou]

C&F will acquire CVB in an all-cash transaction valued at $0.32 per common share, or approximately $855 thousand in the aggregate.

[genlou]

BANK BUY Central Virginia Bank to be acquired by C&F Financial

West Point-based corporation makes deal on heels of merger of Union First and StellarOne

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Posted: Wednesday, June 12, 2013 12:00 am | Updated: 11:58 pm, Wed Jun 12, 2013.

BY CAROL HAZARD Richmond Times-Dispatch

The Richmond area is seeing its second bank merger this week.

C&F Financial Corp., the holding company for C&F Bank (legally known as Citizens and Farmers Bank), will acquire Central Virginia Bankshares Inc., which owns Central Virginia Bank.
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The all-cash transaction is valued at 32 cents per common share, or $855,000 in the aggregate.

That deal comes as Richmond-based Union First Market Bankshares Corp. said Monday that it plans to merge with Charlottesville-based StellarOne Corp. in an all-stock deal valued at $445.1 million.

Unlike the Union First Market and Stel-larOne merger of two strong entities, C&F’s deal with Central Virginia Bank is a merger of a strong entity acquiring a weak one to increase market share, analysts say.

West Point-based C&F achieved record earnings in 2012 and the first quarter of 2013 and maintains a strong history of dividends paid to its shareholders. It was named as one of the “Top Banks of the Decade” by Forbes.com in April 2012.

Powhatan County-based Central Virginia Bank has been under written agreement with state and federal regulators to improve its capital levels since June 2010.

It announced in its first-quarter earnings report last month that it was open to all strategic alternatives as it struggled to deal with payments related to its participation in the government’s Troubled Asset Relief Program.

As part of the merger agreement, Central Virginia Bank’s $13.24 million in TARP money and unpaid dividends as of March 31 will be repaid to the U.S. Treasury by C&F at a discounted amount of $3.35 million.

[genlou]

CVBK has been my bank for many years.I hope it remains CVBK.I like banking there because it is a small bank.I am concerned about the amount of Tarp owed due to the side of the bank.I fear a larger bank may purchase CVBK, but I hope that will not be the case.I believe if a share offering had been done when the share price was higher, to help pay the Tarp, the financial condition of the bank would be better today.

"The U.S. Treasury provided about $11.4 million in TARP capital to the bank after the financial crisis. "While that helped CVB weather the storm, paying off TARP has become problematic for Central Virginia Bank and many other community banks in the U.S.," Marth said.

As of March 31, the bank's unpaid TARP dividends totaled $1.9 million, which, if declared, would have reduced the bank's tangible book value per common share from 84 cents to 12 cents in the first quarter."

[SaltyMutt]

It could be that I'm going to be wrong about CVBK having a good year but I'm not giving up on it yet. Sure, things haven't gone as they had planned but that could turn out to be a great thing for us. Even though I have a few shares and am in the red at the moment, I wouldn't mind seeing the pps drop even lower. Having faith in the eventual profitability of the bank, I see this drop as an opportunity.

[BigCat]

Welp, they would be turning a profit if it weren't for preferred stock dividends... What's that, 3 quarters in a row where a gain turned into a loss due to preferred stock dividends? This must be frustrating to shareholders... It's on my watch list now as it continues to drop.

[SaltyMutt]

2013 should be pretty good for CVBK. At present it is undervalued and I think the pps will soon be moving above a buck.

[Penny Roger$]

~ Monday! $CVBK ~ Earnings posted, pending or coming soon! In Charts and Links Below!

~ $CVBK ~ Earnings expected on Monday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








http://stockcharts.com/h-sc/ui?s=CVBK&p=D&b=3&g=0&id=p88783918276&a=237480049




http://stockcharts.com/h-sc/ui?s=CVBK&p=W&b=3&g=0&id=p54550695994



~ Google Finance: http://www.google.com/finance?q=CVBK
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=CVBK#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=CVBK+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=CVBK
Finviz: http://finviz.com/quote.ashx?t=CVBK
~ BusyStock: http://busystock.com/i.php?s=CVBK&v=2


<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=CVBK >>>>>>



http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916

*If the earnings date is in error please ignore error. I do my best.

[hitman558]

In case you got lost and came here, start buying now. This bank will show a profit for 2011.

[hitman558]

Earnings for the 3rd quarter not good. Keep cleaning the Fannie/Freddie mess and should be done now. Bank should be profitable from here on.

[hitman558]

Someone is accumulating shares at a low price. Could a price jump be in the near future?

[hitman558]

Holding ground, some positives and still a book value of $10.60. May have to hold on longer.