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I am very happy to see the price go up strongly today! I am selling
all the shares I have at .025 ~ 0.03. Please do not sell at the bid!
Thanks, but do you think that is going to help, unless we get a miracle happening here I think I'm out a lot of money. My average is $.30 and I'm not buying anymore to average down. I took a chance on this that they would pull them selfs out.I was wrong about them. I will wait untill the clouds of uncertainty leaves to make a decition on what to do next. Better to be late to the party then early and not have a party at all.
Today is the third time for FFEDQ to hit the bottom price 0.02! I am worry about if the 52-week low 0.02 will be broken very soon before I can sell out my 1M+ shares which I bought at 0.02x recently. Don't
sell your shares at the bid price to avoid the bottom breaking down!
It would be nice to see them mark to market on there assets. It is so miss leading that these banks are allowed to do that and try and fool us investors. It is a good thing the media has brought that to our attention.
Boy things don't look good for FFED.PK. They must of given the assets away for nothing when they sold them.
http://www.bankruptcydata.com/BankruptcyDataNewsNEW.asp
All there is left is a shell with debt from what I can see, ouch!
I called her wrong. Oh well live and learn as they say.
How they do it?
What they do is set up an entity under the parent company and issue convertable dept. Check with your broker for form 211 if they will give it to you, most will bleed ignorence to the fact there is such a form. They will sell those convertables below the price set to convert them allowing insiders to get in with out filling being that they are bonds for what ever the market will give them for them. The dept owing on them will be higher then the assets they collected but the thing is the company owns most of the shares after they repurchased them from the ones who gave up waiting. What they do after that who knows most likely use the entity to take one west and its assets puplic. they do all this when the ticker symbol was changed from the OB. to the pinky sheets. One should know what he is buying.
Oh I can't do this I just want out I'm just pulling your legs guys sorry sorry so sorry.
I love these boards. Do your DD, you will be surprised at what you find on how the insiders get around sec rules for there own gains.It is all in the fillings and the rules on how it works and with a little imagination and speculation you can come up with a crazy story like mine.
CH11 filed on last Friday! New 52-week low 0.02 was created today! I
bet very soon the pos scam will hit another new low 0.01. Sell ASAP.
This stock is oversold it will rebound soon but won't be anything but a day trade
Now that the stock is down more, I believe that we need to continue to trend down (to for example .035), before we can rise back up. My suggestion is for the next 2 to 3 trading days for individuals seeking to buy in only to do so under 4 cents
This is the way these stocks work, as we all know the company can't issue new shares below the asset value of the company due to an anti dilusion clause that was put in place for the debt holders. So what they do is when the stock symbol was switched from being an over the counter stock to a pink sheet stock they sliped another entity in place of the original that had no fillings requirements for the sec and plenty of outstanding shares held by the company in treasury stock.
The company to raise capital will issue millions of new shares and when she gets to the bottom like were we are now more investors will come in diluting the ones who first bought the pink issue but what they are doing is also diluting them selfs in the process cause when it comes to merging the two entites together they will have to reverse split the stock to reflect the asset value of the entity that will be newly traded.
Assets minus liablity divided by outstanding shares equals the share asset value of the company and that has to be the same as the entity they are merging into and cause the one they will be merging into will be traded and the one that is now traded will be haulted then it will be the one haulted that will be adjusted and if shareholders buy millions of shares for a zero stock price then in the end it will be the company who gets the capital for nothing and the share holders in the pink sheet entity will all be diluted to the asset value of the entity traded and that is why the pros will wait cause they will get the shares for the asset value of the company with the new capital in it and there is not a better price out there for the shares untill that happens.
You see, they make it look like a bargin, and then drop a bomb that it will be in chapter 11 not that it maters the pros have left long ago waiting on the side line cause they did there home work and got the information on form 211 from there brokers on the new entity trading under the pink sheet.
You can't jump all over the company for doing what they did. There was no credit to be had. They had to do something for the capital and they tried every thing to make it look like it was going to fail to protect shareholders but at the smae time they needed that capital. i sure wouldn't want to be a CEO in times like this. Familiy and friends invested you can't say a word all you cando is stand by and hope they discover for them selfs as to what is happening and the internet has all the information they need to do that.
Gaining some boardmarks here. Could be interesting going into next week. There's a big gap that needs to fill.
Todays trading was a surprise, it held fairly well, I am pleased.
I am not saying that the stock won't close above 6 cents, I do believe that u will see some volatility today in this stock
A dog stock, yet you claim you hole a million shares and want to add more? Again, most people bought in ABOVE .06, so there is no gain if the price isn't above that. Stop downplaying the stock because you want to add more..
Because too many folks will sell for gains and not enough buyers for this dog stock. It probably won't hit 2 cents today but probably 035. Volume is decreasing again
Yeah right. Most of the shares bought yesterday was at .06 and above. Why would it magically drop to .02-.03?
I am thinking that we may hit 2 to 3 cents today. Who else agrees? I just don't believe that this stock can sustain the volume that it has had the past two days.
How does it look like it's heading down? If anything, I think a new base has been formed and it goes higher from here.
I was thinking of doing that so that I can gobble up more shares when the price takes a dive. Its called manipulation
Looks like this is heading down again...
Do you really have MM shares? Don't
sell them all at once!
Cubs
I might dump 1 million of my hard earned shares on the market so that the price can plummet!!!!!
One Bank...ok
But FFED shareholders are #4 in line.
Why should SH get anything from
a BK bank that was "bought"
Cubs
UPDATE 2-OneWest buys First Federal as 7 US banks fail
* OneWest to assume $4.5 bln in First Federal deposits
* Seven U.S. banks fail on Friday
* Bank failures now total 140 in 2009
(Recasts, adds expert comment)
By Gina Keating and Paritosh Bansal
LOS ANGELES/NEW YORK, Dec 18 (Reuters) - OneWest Bank, formerly failed mortgage lender IndyMac, bought the assets of First Federal Bank after it was closed by U.S. regulators, in a deal that may bolster the case for private investment in banks.
California's First Federal was one of seven U.S. lenders closed on Friday by regulators, bringing the total number of U.S. bank failures this year to 140.
The 39 branches of First Federal -- formerly controlled by FirstFed Financial (FFED.PK) -- reopen on Saturday as OneWest Bank FSB.
In addition to assuming $4.5 billion in total deposits, OneWest, of Pasadena, Calif., agreed to buy essentially all of First Federal's assets of $6.1 billion, the Federal Deposit Insurance Corp said.
The deal is OneWest's first since it was formed to take over IndyMac's assets earlier this year by a group of private equity and hedge fund investors, including funds run by billionaire investors J.C. Flowers, John Paulson and George Soros.
It should come as heartening news for other private investors looking to make inroads into the sector, including funds being raised by bank executives like former Bank of America (BAC.N) Vice Chairman Gene Taylor. [ID:nN18246968]
"It certainly validates their argument to the FDIC that they can go in and successfully run a bank, turn it around, and then buy additional ones," said Chip MacDonald, a banking lawyer at Jones Day, referring to private investors.
The Federal Deposit Insurance Corp, worried about the stability of the banking sector over the long term, has made failed bank acquisitions by private investors harder than they are for banks looking to buy one another.
Other bank regulators, like the Federal Reserve, also continue to jealously guard the separation between banking and commerce, which makes it difficult for private equity investors to bid on banks.
"A successful experience like this between the FDIC and private equity may encourage the FDIC to be a little more receptive," MacDonald said.
With an estimated cost of $146.3 million to the Deposit Insurance Fund, the FDIC also got a much better deal on this than a lot of other failed banks during this crisis, he added.
Smaller institutions have been collapsing at a rapid clip because of deteriorating loan portfolios and related liquidity and capital issues amid a weak economy.
FirstFed posted a $244.8 million net loss in its fourth quarter, hit by declining California home prices and a 10-fold leap in bad-loan provisions.
First Federal declined to comment. OneWest declined to make Chairman Steven Mnuchin available for an interview.
FAILURES CONTINUE
This year has marked the highest annual level of bank failures since 1992, when the industry was still cleaning up from the savings and loan crisis.
Other banks closed on Friday include: Imperial Capital Bank of La Jolla, California, with assets of $4 billion; Peoples First Community Bank of Panama City, Florida with assets of $1.8 billion; New South Federal Savings Bank of Irondale, Alabama with assets of $1.5 billion; Independent Bankers' Bank of Springfield, Illinois, with assets of $585.5 million; RockBridge Commercial Bank of Atlanta with assets of $294 million; and Citizens State Bank in New Baltimore, Mich., with assets of $168.6 million.
Of these, City National Bank (CYN.N) bought assets of Imperial Capital, Beal Bank bought the assets of New South, and Hancock Bank bought the assets of Peoples First Community Bank.
But the FDIC found no buyers for the remaining three.
"Tonight there have been at least three banks without buyers. The FDIC needs buyers," MacDonald said.
The FDIC has said the pace of failures will likely peak next year. This week, the agency boosted its operating budget for 2010 by 55 percent to $4 billion to handle the cost of failures, which is expect to total $100 billion from 2009 through 2013. (Editing by Edwin Chan, Carol Bishopric and Ron Popeski)
LINK:
http://www.reuters.com/article/idCNN1823357920091219?rpc=44
In accordance with Federal law, allowed claims will be paid, after administrative expenses, in the following order of priority:
1.Depositors
2.General Unsecured Creditors
3.Subordinated Debt
4.Stockholders
Cubs
The bank was seized on Friday by the FDIC
FFED Bankrupted before?
On Friday, December 18, 2009, First Federal Bank of California, a Federal Savings Bank (First Federal Bank of California), Santa Monica, CA was closed by the Office of Thrift Supervision. Subsequently, the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.
Cubs
I wish we could find out
FFED 0.40
FirstFed Reports Preliminary Results for the First Quarter of 2009Last update: 4/29/2009 8:30:01 AMLOS ANGELES, Apr 29, 2009 (BUSINESS WIRE) -- FirstFed Financial Corp. (Pink Sheets:FFED), parent company of First Federal Bank of California, today announced a net loss of $53.4 million or $3.90 per diluted share of common stock for the first quarter of 2009 compared to a net loss of $244.8 million or $17.91 per diluted share of common stock for the fourth quarter of 2008 and net loss of $69.8 million or $5.11 per diluted share of common stock for the first quarter of 2008. The 2009 first quarter loss resulted primarily from a $75.0 million provision for loan losses. The Bank's risk-based capital ratio was 10.36% at March 31, 2009 and its core and tangible capital ratios were 5.10%, which were in excess of the 10% and 5% ratios, respectively, required by the Bank's federal regulators to be considered "well capitalized". As such, at the end of the first quarter of 2009, the Company and the Bank were in compliance with the minimum capital ratios required by the previously disclosed Cease and Desist Orders (the "Orders") issued by the Office of Thrift Supervision ("OTS") on January 26, 2009. The $75.0 million loan loss provision was the result of continued high levels of loan delinquencies and foreclosures, further deterioration in the California real estate market and increases in unemployment during the first quarter. In comparison, a $220.0 million provision for loan losses was recorded during the fourth quarter of 2008 and a $150.3 million loan loss provision was made during the first quarter of 2008. Loan charge-offs, net of recoveries, were $95.6 million during the first quarter of 2009 compared to $154.7 million during the fourth quarter of 2008 and $28.5 million during the first quarter of 2008. Non-accrual single family loans (loans greater than 90 days delinquent or in foreclosure) increased to $471.3 million as of March 31, 2009 from $403.8 million as of December 31, 2008 and $393.6 million at March 31, 2008. Non-accrual loans as of March 31, 2009 include $153.9 million of severely delinquent single family loans that were written down to their net collateral value. Single family loans less than 90 days delinquent were $231.8 million at March 31, 2009 compared to $208.2 million at December 31, 2008 and $273.3 million at March 31, 2008. The Bank is continuing its loan modification programs to reach out to borrowers likely to face a recasted payment to encourage them to modify their loans before the recast date. The Bank estimates that 688 loans with balances totaling approximately $301.3 million are scheduled to recast during 2009. Another 1,380 loans, with balances totaling $634.0 million, are scheduled to recast during 2010. In comparison, 1,960 loans with balances totaling approximately $907.3 million were scheduled to recast during 2008. Total modified loans were $683.8 million net of valuation allowances as of March 31, 2009. Of these modified loans, $665.3 million net of valuation allowances were considered troubled debt restructurings ("TDRs"). Another $18.5 million in adjustable rate mortgages were modified as of March 31, 2009, but were not considered TDRs, and therefore no valuation allowances were established. Modified loans totaled $590.4 million as of December 31, 2008 and $121.7 million as of March 31, 2008. Total allowances for loan losses (general valuation allowances plus allowances for impaired loans) as a percentage of gross loans were 4.71% or $303.6 million at March 31, 2009, a decrease from 4.97% or $326.9 million at December 31, 2008. In comparison, loan loss allowances were 3.83% of gross loans or $249.9 million as of March 31, 2008. Total allowances allocated to single family loans were 8.13% of gross single family loans at March 31, 2009 compared to 8.19% at December 31, 2008 and 5.28% at March 31, 2008. Non-performing assets increased to $573.6 million or 8.39% of total assets as of March 31, 2009 from $521.5 million or 7.00% of total assets as of December 31, 2008 and $439.1 million or 6.20% of total assets as of March 31, 2008. The increase during the first quarter of 2009 was due to higher levels of single family non-accrual loans and a decrease in total assets as of March 31, 2009. Sales of foreclosed real estate owned resulted in net gains of $3.2 million for the first quarter of 2009. The gains recorded during the quarter resulted from write downs recorded at the time of foreclosure which created gains upon the ultimate disposition of the properties less $7.6 million in additional write downs taken on real estate owned during their holding period. In comparison, a net loss of $184 thousand was recorded on the sale of foreclosed real estate during the first quarter of 2008. Operating costs on foreclosed real estate, which are included in non-interest expense, totaled $3.9 million during the first quarter of 2009 compared to $1.2 million during the first quarter of 2008. Net interest income was $40.1 million during the first quarter of 2009 compared to $49.3 million during the first quarter of 2008. Net interest income decreased during 2009 compared to 2008 due to lower net interest spreads. The interest rate spread decreased by 37 basis points during the first quarter of 2009 compared to the first quarter of 2008 primarily due to interest lost on non-performing loans which lowered the loan yield by 84 basis points during the first quarter of 2009. Loan originations were $101.5 million during the first quarter of 2009 compared to $285.3 million during the first quarter of 2008. Single family loans comprised 28% of loan originations during the first quarter of 2009 compared with 45% of loan originations during the first quarter of 2008. Multi-family and commercial real estate loans comprised 72% of loan originations during the first quarter of 2009 compared to 54% during the first quarter of 2008. Loan originations decreased because the Bank curtailed its lending efforts to comply with the Orders. Negative amortization, included in the balance of loans receivable, totaled $251.4 million at March 31, 2009 compared to $309.4 million at March 31, 2008. Negative amortization represents unpaid interest earned by the Bank that is added to the principal balance of the loan. Due to decreased interest rates in the indices underlying the Bank's adjustable rate mortgages, negative amortization decreased by $11.5 million during the first quarter of 2009. In comparison, negative amortization increased by $7.7 million during the first quarter of 2008. The balance of negative amortization as a percentage of all outstanding single family loans that allow negative amortization totaled 9.10% at March 31, 2009 compared to 8.35% at March 31, 2008. The portfolio of adjustable single family loans with one-year fixed monthly payments totaled $2.1 billion at March 31, 2009 compared to $3.1 billion at March 31, 2008. The portfolio of adjustable single family loans with three-to-five year fixed monthly payments totaled $628.3 million at March 31, 2009 compared to $1.0 billion at March 31, 2008. Non-interest income was $8.1 million for the first quarter of 2009 compared to $3.2 million for the first quarter of 2008. The increase in non-interest income during the first quarter of 2009 compared to the first quarter of 2008 was due primarily to a $3.4 million increase in net gain on sale of real estate owned and a $1.4 million gain on sale of investment securities, available-for-sale. Non-interest expense was $26.6 million for the first quarter of 2009 compared to $22.1 million for the first quarter of 2008. The ratio of non-interest expense to average total assets was 1.49% for the first quarter of 2009 compared to 1.24% for the first quarter of 2008. The increase in non-interest expense during the first quarter of 2009 compared to the first quarter of 2008 was due primarily to increased federal deposit insurance costs and holding costs on foreclosed real estate. As of March 31, 2009, both the Company and the Bank were in compliance in all material respects with the Orders issued by the OTS, having achieved the mandatory minimum capital ratios, timely submitted all necessary plans and other reports, and abided by all required operating restrictions. First Federal Bank of California operates 39 retail banking offices in Southern California. This news release contains certain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to various factors, many of which are beyond the Company's control, which could cause actual results to differ materially from such statements. Such factors include, but are not limited to, the general business environment, interest rate fluctuations that may affect operating margin, changes in laws and regulations affecting the Company's business, the California real estate and job markets, and competitive conditions in the business and geographic areas in which the Company conducts its business and regulatory actions. In addition, these forward-looking statements are subject to assumptions as to future business strategies and decisions that are subject to change. The Company makes no guarantees or promises regarding future results and assumes no responsibility to update such forward-looking statements. KEY FINANCIAL RESULTS FOLLOW
FIRSTFED FINANCIAL CORP.AND SUBSIDIARYCONSOLIDATED STATEMENTS OF FINANCIAL CONDITION(Dollars in thousands, except share data)(Unaudited) March 31, December 31, 2009 2008ASSETSCash and cash equivalents $ 87,786 $ 391,469Investment securities, available-for-sale (at fair value) 260,688 323,048Mortgage-backed securities, available-for-sale (at fair value) 39,379 40,504Loans receivable, net of allowances for loan losses of $303,593 and 6,137,828 6,254,686$326,920Accrued interest and dividends receivable 27,600 30,061Real estate owned, net 98,081 117,664Office properties and equipment, net 23,474 24,102Investment in Federal Home Loan Bank (FHLB) stock, at cost 115,150 115,150Other assets 48,090 153,902 $ 6, 839,076 $ 7,450,586LIABILITIESDeposits $ 4,828,699 $ 4,907,356FHLB advances 1,595,000 2,085,000Senior debentures 150,000 150,000Accrued expenses and other liabilities 59,746 49,488 6,633,445 7,191,844COMMITMENTS AND CONTINGENCIESSTOCKHOLDERS' EQUITYCommon stock, par value $.01 per share; authorized 100,000,000 240 240shares; issued 24,002,093 and 24,002,093 shares; outstanding13,684,553 and 13,684,553 sharesAdditional paid-in capital 58,207 57,880Retained earnings 410,369 463,759Treasury stock, at cost, 10,317,540 shares (266,040 ) (266,040 )Accumulated other comprehensive income, 2,855 2,903net of taxes 205,631 258,742 $ 6,839,076 $ 7,450,586FIRSTFED FINANCIAL CORP.AND SUBSIDIARYCONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(Dollars in thousands, except per share data)(Unaudited) Three months ended March 31, 2009 2008Interest and dividend income:Interest on loans $ 86,070 $ 109,473Interest on mortgage-backed securities 414 593Interest and dividends on investments 3,879 5,522Total interest income 90,363 115,588Interest expense:Interest on deposits 34,969 40,336Interest on borrowings 15,323 25,911Total interest expense 50,292 66,247Net interest income 40,071 49,341Provision for loan losses 75,000 150,300Net interest loss after provision for loan losses (34,929 ) (100,959 )Other income:Loan servicing and other fees 241 473Banking service fees 2,020 1,706Gain on sale of loans -- 13Gain on sale of investment securities 1,397 --Net gain (loss) on real estate owned 3,171 (184 )Other operating income 1,273 1,018Total other income 8,102 3,026Non-interest expense:Salaries and employee benefits 10,634 11,208Occupancy 3,720 5,054Advertising 82 35Amortization of core deposit intangible -- 127Federal deposit insurance 5,026 544Data processing 651 537OTS assessment 632 454Legal 23 689Real estate owned operations 3,948 1,236Other operating expense 1,847 2,234Total non-interest expense 26,563 22,118Loss before income taxes (53,390 ) (120,051 )Income tax benefit -- (50,270 )Net loss $ (53,390 ) $ (69,781 )Net loss $ (53,390 ) $ (69,781 )Other comprehensive (loss) income, net of taxes (48 ) 1,132Comprehensive loss $ (53,438 ) $ (68,649 )Loss per share:Basic $ (3.90 ) $ (5.11 )Diluted $ (3.90 ) $ (5.11 )Weighted average shares outstanding:Basic 13,677,149 (13,655,615 )Diluted 13,677,149 (13,655,615 )FIRSTFED FINANCIAL CORP.AND SUBSIDIARYKEY FINANCIAL RESULTS(Dollars in thousands, except per share data)(Unaudited) Quarter ended March 31, 2009 2008End of period:Total assets $ 6,839,076 $ 7,081,466Cash and securities $ 348,474 $ 395,119Mortgage-backed securities $ 39,379 $ 45,178Loans, net $ 6,137,828 $ 6,282,712Core deposit intangible asset $ - $ 338Deposits-retail and commercial $ 3,464,716 $ 3,452,247Deposits-wholesale $ 1,363,983 $ 596,552Borrowings $ 1,745,000 $ 2,395,000Stockholders' equity $ 205,631 $ 586,819Book value per share $ 15.03 $ 42.91Tangible book value per share $ 15.03 $ 42.88Stock price (period-end) $ 0.36 $ 27.15Total loan servicing portfolio $ 6,772,097 $ 6,709,339Loans serviced for others $ 21,405 $ 59,950% of adjustable mortgages 70.74 % 86.46 %Other data:Employees (full-time equivalent) 516 601Branches 39 35Asset quality:Real estate owned (foreclosed) $ 98,081 $ 45,547Non-accrual loans 475,484 393,598Non-performing assets $ 573,565 $ 439,145Non-performing assets to total assets 8.39 % 6.20 %Single family loans delinquent less than 90 days $ 231,793 $ 273,256General valuation allowance (GVA) $ 250,181 $ 235,873Allowance for impaired loans 53,412 14,009Allowance for loan losses $ 303,593 $ 249,882Allowance for loan losses as a percentage of gross loans receivable 4.71 % 3.83 %Modified loans (not impaired) $ 18,533 $ 4,077Impaired loans, net $ 869,293 $ 134,021Capital ratios:Tangible capital ratio 5.10 % 10.23 %Core capital ratio 5.10 10.23Risk-based capital ratio 10.36 19.63Net worth to assets ratio 3.01 8.29FIRSTFED FINANCIAL CORP.AND SUBSIDIARYKEY FINANCIAL RESULTS (continued)(Dollars in thousands)(Unaudited) Three months ended March 31, 2009 2008Selected ratios:Expense ratios:Efficiency ratio 55.14 % 42.24 %Expense to average assets ratio 1.49 1.24Return on average assets (3.01 ) (3.90 )Return on average equity (92.57 ) (44.97 )Yields earned and rates paid:Average yield on loans 5.52 % 6.96 %Average yield on investment portfolio 2.32 5.09Average yield on all interest-earning assets 5.18 6.82Average rate paid on deposits 2.86 3.87Average rate paid on borrowings 2.84 4.56Average rate paid on interest-bearing liabilities 2.85 4.12Interest rate spread 2.33 2.70Effective net spread 2.30 2.91Average balances:Average loans $ 6,240,611 $ 6,294,589Average investments 740,497 480,254Average interest-earning assets 6,981,108 6,774,843Average deposits 4,895,413 4,166,449Average borrowings 2,154,837 2,270,862Average interest-bearing liabilities 7,050,250 6,437,311Excess of interest-earning assets over interest-bearing liabilities $ (69,142 ) $ 337,532Loan originations and purchases $ 101,480 $ 285,310SOURCE: FirstFed Financial Corp.
FirstFed Financial Corp. Douglas Goddard, Chief Financial Officer (310) 302-1714Copyright Business Wire 2009
FFED $0.55 this can bounce quick like BAC and C.
FFED Chart is showing some life....the CMF has made a turn up and that is usually a leading indicator.
looks like the run is over for now. financial stocks hung up today...
another great close FFED @ 0.54
I think we will get a another push up soon.
FFED 0.45 hod.
FFED 0.40 hod.
Looks like resistance will come in at .49 hopefully we bust right though that on monday.
greaaaaaat end of day. I dont think i can say that enough. great eod and great day. hoping for a solid day tomorrow!
Very, this has a lo o/s
that s why I put it on watch
got .08 last week
was over 1.00 very recent
MK
FFED 0.375 hod, great close.
Nice to see a new board...I have been posting to myself on the "FED" board.
Go baby...going to hold this one for a while.
Thanks for the board.
BLT
.32 now, very nice
MK
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Outstanding Shares: 13.68M Shares.
Floating Shares: 11.62M Shares.
Note, the common shares may be canceled if the bank exits from the bankruptcy.
Status: CH7 bankruptcy in the process.
Company Profile
Founded in 1929, for over 80 years First Federal Bank of California has been focused on meeting the banking needs of our community. Locally managed, we are the fourth largest Los Angeles-based financial institution1 with thirty-nine branch locations and over $7 billion in assets. Our company's common stock is quoted on the over-the-counter (OTC) market under the symbol FFED.PK.
As a full service bank, we offer the entire spectrum of products and services offered by the larger financial institutions, but with a level of service we believe is unparalleled in the industry. Helping our clients manage their finances better, invest better, and ultimately live better is at the core of our service philosophy. That's why our clients know that at First Fed, "You're More Than A Customer, You're A Client®."
Corporate Address:
12555 W. Jefferson Boulevard
Los Angeles, CA 90066-7036
Telephone: 310.302.5600
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