Dearborn Banc Corp fka DEAR

[alfaspider]

DEAR had nice pop with earnings.. Guess it really depends on who dumped 27,600 shares @ 1:45PM? Bit of a later recovery, but who was dumping/shorting may set the trend?

1 Million Short out of 7.7 Million Outstanding?



Short Interest (Shares Short)
1,087,800
Days To Cover (Short Interest Ratio)
2.9

Short Interest - Prior
1,085,800
Short % Increase / Decrease
0.18


Total Shares Outstanding
7,687,470

[stocktrader001]

DEAR 1.73$ setting up for a moove, either up or down...

[alfaspider]

Hammer: Loaded GRAN @ .68- .74 couple weeks ago-- have around 70K shares stashed away..... Waiting , waiting and waiting, but not for my social security check...

GRAN gonna boom boom booom.....

You make some damn good calls......

[Hammer1]

LOADED GRAN this week...........20,000 here and waiting for the PARTY TRAIN......Hammer

[stocktrader001]

shows 2.15$ AH lets see what happens.

[alfaspider]

GRAN, DEAR and CFW-- Going to pop............

AH-- 2.15? WTF

[Hammer1]

Nice man.......Trying to BOTTOM FEED as well......also GRAN getting ready. Hammer

[stocktrader001]

added some DEAR 1.83$

[dmik]

it looks like its consolidating..from the gap; it should fly just like last time..

[UpstateChris]

Seriously...how long can this bank trade at half it's cash value? We could all double our money if they just shut the doors! I cannot believe this thing hasn't popped yet. Oh well, holding through until we see at least book value (just shy if $4).

[dmik]

Thin wall up to 2.20
than DEAR will fly..

[dmik]

dear always slow for the market to react.. last time it jumped it took several days and into the next week...

[mlkrborn]

DEAR pulled back to S1.79 while CRBC is 0.86.

[UpstateChris]

DEAR has been trading below book since the last earnings report. That never makes sense to me, but I have seen it with a few others. This made a nice pop - now has to sit through the profit taking before it goes again. I'm looking for the $3.50 range by end of next week, but given how this trades as a low float stock, that could be conservative. At this point there are no fundamental negatives - its all technicals (probably until next earnings).

[sterlingkuning]

"The Company's Shareholders' Equity of $30,154,000 equates to a book value of $3.92 per share compared to the market closing price of $1.79 on September 30, 2010. "

[ArchiH]

Nice, could run tomorrow -- low float of note!

[sterlingkuning]

Dearborn Bancorp Reports Third Quarter Profit
Dearborn Bancorp (NASDAQ:DEAR)
Intraday Stock Chart
Today : Tuesday 19 October 2010

Dearborn Bancorp, Inc. (Nasdaq:DEAR), the Holding Company for Fidelity Bank ("Bank"), today reported a net income of $631,000 or $0.08 per fully diluted common share for the three months ended September 30, 2010 compared to a net loss of $40,045,000 or $(5.24) per share for the three months ended September 30, 2009. For the nine months ended September 30, 2010, the Company's net loss was $11,870,000 or $(1.55) compared to a net loss of $55,369,000 or $(7.24) for the same period in 2009. The Company's Shareholders' Equity of $30,154,000 equates to a book value of $3.92 per share compared to the market closing price of $1.79 on September 30, 2010. In accordance with regulatory capital guidelines, the Bank remains "undercapitalized" at September 30, 2010.
At the end of September, the Company's total assets were $916,731,000 representing a decline of 12.1 percent over the preceding 12 months as a result of a strategic contraction of the balance sheet to conserve capital. Total deposits decreased 10.6 percent over the previous year and stood at $809,418,000 when the third quarter ended. Total loans were $760,683,000 on September 30, 2010, 11.8 percent less than they had been on the same date in 2009. Strong emphasis is being placed on collection of the existing loan portfolio and the sale of other real estate owned.

Michael J. Ross, President and Chief Executive Officer of both the Company and the Bank, announced the financial results and commented, "During the third quarter, net charge-offs were $2,243,000 which included gross recoveries of $661,000. The allowance for loan losses now stands at 3.92% of total loans at the end of the quarter. Write-downs of other real estate owned were $960,000, reflecting the pending sale of two spec commercial office buildings. Total non-performing assets were $137,043,000 at September 30, 2010 remaining flat compared to the first and second quarter of 2010."

Ross concluded, "The core operations of the Company continue to produce income to offset the high cost of FDIC insurance and the holding costs of other real estate owned. The level of future unknown charge-offs remains the determining factor as to whether the Company can be profitable in future quarters. Thus, our primary concerns for 2010 and 2011 are the Michigan economy, credit quality, and the stability or improvement of the underlying collateral values in our loan portfolio."

Dearborn Bancorp, Inc. is a registered bank holding company. Its sole banking subsidiary is Fidelity Bank. The Bank operates 17 offices in Wayne, Oakland, Macomb and Washtenaw Counties in the State of Michigan. Its common shares trade on the Nasdaq Global Market under the symbol DEAR.

[$pmlg]

DEAR still trying gap fill at 2.35...looks like it will imo.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=55085586

[streetsmartstocks]

There are other small bank stock like DEAR that I like...ABK

[Hammer1]

DEAR SSS......yes there is a DEAR BOARD. Hammer

[streetsmartstocks]

I have been promoting this stock several weeks now on another board....then I said hey is there a DEAR board....

[smokey888]

Going to 2.30 today.

[sterlingkuning]

October 19 from what I see, don't know if its confirmed.

[streetsmartstocks]

When are the earning report coming out for DEAR?

[sterlingkuning]

Nice movement on DEAR again!

[Hammer1]

This stock has a STREET VALUATION of OVER $3+ BUCKS....Hammer

[smokey888]

why is is moving?

[Hammer1]

Come on BRO.....I TOLD YA....and gonna go GREEN TOMORROW as WELL.....Hammer

[stocktrader001]

im suprised about the market today. very very suprised.

well i see lot of Commercials for Fidelity Bank and i belive lot of people have signed up there. if this thing with the banks earnings is thru. DEAR should be one of the winners. i might overthing my thoughts. gl

[Hammer1]

100% ACCURATE. Hammer

[carpentersr]

Meredith Whitney saying that Bank's Q3 earnings could show suprise upside earnings... this after being a bit bearish the few weeks..

Could spell interest for DEAR...

[UpstateChris]

Im not here to pump this thing...afterall, the move was without fundamental support. However, you cannot expect a move that far, that fast to not have some profit taking and gap filling. Volume isnt normally high enough for shorts to bother with - and there is no other reason for this to drop other than following the market and others in it's sector. I agree that it will continue to trend higher - notice I did not say go higher every single day - but trend higher over time. I expect near or at $3.00 before earnings - and that day will decide if it's back below $2 or over $5.

[stocktrader001]

lol i like PEIX came in through my rader. made some money earlier in the year. had it for 0.80 but sold in the same day. 52 week high was 2.75$ lol

gl man

[Hammer1]

Gonna BE a GREEN MONSTER coming into ELECTIONS and AFTER.....we have had 9 green trading days of about 12.....so little RED DAY NO BIGGIE......EYES on PEIX my main.....gonna be a MONSTER. GLTY Hammer

[stocktrader001]

ahh man i see this market red for the next weeks i swear!
if earnings season doesnt kicks in with AA at first forget it!

im not feeling much lucky today bro, lost lot of cash today!

[Hammer1]

Bro market is RED......will BOUNCE HERE. Hammer

[stocktrader001]

i belive its over homie, shorts have covered. cee you in 2 months or so. peace...

[Hammer1]

NICE and keep an EYE on GRAN and CASB. Hammer

[CdoubleU]

Decided to jump in with u guys @ 1.74. Looks like a good starting point.

We'll see! LOL!

GL!

[Hammer1]

Just a bad MONDAY......Should get her going this week....can test $3 area IMO. Hammer

[stocktrader001]

well i guess its over for the moment. market sucks again.

[Hammer1]

YOU ARE CORRECTO.....................$ 2.80 BOOK VALUE HERE....at a MIN.....Hammer

[$pmlg]

whats changed that popped this last 2 days...filling gap fast... last q in aug said 7 mil float, and traded over 2.5 last 2 dayz...

[UpstateChris]

The extreme volume increase and the PPS increase the last couple of days have been impressive. If this was on T/A alone I would have expected to see some profit taking and more pullback/consolidation than we have. While some of the indicators on some time period charts and starting to dip, it is not what I was expecting. Which brings me to the question I asked yesterday - Why? At the risk of sounding like a mindless pumper, I am actually wondering if someone either internal or familiar with them knows something and we may see either a PR soon and the Q #'s better than expected. This thing moves so quickly though, it is tough to tell. From a T/A stance, I would really like to see this break and close over my 4 MA's (20/50/100/200) on the 5 & 10 minute. As of now that means closing over 2.09. With daytraders/swing traders going to cash before the weekend, if it can do this, Monday should rock. Oh course, I could be complete insane.

[stocktrader001]

i think i agree on that. Monday it could be in. 3 days run...

[UpstateChris]

2.50 is an easy target by next week.

[Hammer1]

DEAR just rolling here.....over $2.50 next week and back to VALUATION....Hammer

[UpstateChris]

I held through the massive drop, knowing it would come back. My position is green now, but after all that I am going to say what you should never say:

This stock owes me!



I am, seriously, holding on a bit longer. I think it not only has room to grow, but I suspect the problems last Q have been addressed and that this will fly at the earnings report. That is, obviously, a risk and trailing stops are tight and in place.

[stocktrader001]

DEAR = HAMMERTIME!

[Hammer1]

DEAR SOLID BOUNCE on HUGE VOL.....SUMSUP.........????????????? Hammer