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Glad to see you're still here. I'm reviewing my banking stocks. Seriously thinking of pulling my Trust shares. The 7.5% looks like it may be a better bargain. With the ave trust return coming to about 5% pretax it's getting a little hard to make a living with long term investments.
This sounds like good news today, and the stock closed up a good bit:
http://ih.advfn.com/p.php?pid=nmona&article=55415819&symbol=CRBC
The question is, who is First Merit, and who and why is a law firm looking into the merger and 2 of the directors?
I am still long CRBC, but a little about worried where this is going.
If First Merit is as good or better than CRBC, I will take shares, no problem, but I never hear of them.
What I hate is cheap cash buy outs just as a rally starts.
Citizens Rep Bancorp to be acquired by FirstMerit Corp (FMER) at $22.50/share or ~$912 mln; transaction expected to be significantly accretive to combined co's estimated 2014 GAAP/Operating EPS (CRBC) 19.87 : FirstMerit Corp (FMER) and Citizens Republic Bancorp (CRBC) announce that they have entered into a definitive agreement under which FirstMerit will acquire Citizens in a stock-for-stock transaction with a total value of ~$912 mln based on FirstMerit's average ten-day closing stock price ended September 12, 2012. Citizens' shareholders will receive a fixed 1.37 shares of FirstMerit common stock in exchange for each share of Citizens' common stock. Based on FirstMerit's average ten-day closing stock price ended September 12, 2012, the implied value of a Citizens' share would be $22.50. Upon completion of the transaction, the combined company will have approximately: $24 billion in total assets; $15 billion in loans; and $19 billion in deposits. Following the merger, FirstMerit expects to retain its strong capital position with pro forma Tier 1 Ratio of ~10.36%, Total Risk-Based Capital of 12.67% and Tangible Common Equity to Tangible Assets of 7.15%, after restructuring charges and an anticipated capital raise of ~$100 mln of Tier 1 Preferred and $250 mln of Tier 2 debt.
Hmm, this does not sound too good?
http://ih.advfn.com/p.php?pid=nmona&article=54159770&symbol=CRBC
I got out a couple months ago. Short term flip for me now.
It started looking like a pinkie about to crash.
FITB is my hero. Not afraid of that one. I see a couple more months of climbing there.
I think banking stocks are looking good for the next couple months. I've been with CRBC for many years and think it looks great, but there's no doubt in my mind, the stock is out performing.
CRBC is a small bank servicing a poor area. But they did give me my first car loan, so keep on going CRBC. lol
Break out alert, LOL, we seemed to have turned $20/share from resistance into support, and rallied hard to nearly $21/share late last week!!
Wish I had bought more at the $6-$8 range now.
CRBC rally still underway, just took out $18, and it should be support now. Slow rally right now, but still in a long term bull run.
~ Thursday! $CRBC ~ Q1 Earnings posted, pending or coming soon! In Charts and Links Below!
~ $CRBC ~ Earnings expected on Thursday *
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=CRBC&p=D&b=3&g=0&id=p88783918276&a=237480049
http://stockcharts.com/h-sc/ui?s=CRBC&p=W&b=3&g=0&id=p54550695994
~ Google Finance: http://www.google.com/finance?q=CRBC
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=CRBC#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=CRBC+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=CRBC
Finviz: http://finviz.com/quote.ashx?t=CRBC
~ BusyStock: http://busystock.com/i.php?s=CRBC&v=2
<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=CRBC >>>>>>
http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916
*If the earnings date is in error please ignore error. I do my best.
Yes it is good news. But I don't think it's going to effect the pps.
Everything has been good for awhile and CRBC has been a great long.
I do think we'll see a down turn b4 long though. As it approaches it's real value it's going to become subject to the everyday market trends.
Sounds like good news here today. Sure glad I held on to these shares. I think this is an easy double or triple, steady rise from here if the economy keeps improving the next 2 years.
That is not the "un-oficial failing banks list". The TARP amendment agreement was posted here 2 years ago.
Wasn't a bad swing play. Need to do it again.
Still rising, we have broken out finally here! This could head to $20 I think!!!
http://ih.advfn.com/p.php?pid=nmona&article=49434694&symbol=CRBC
Nice credentials!
LOL, I already own shares, and if I had the cash I would be scooping up more right here like crazy!
CRBC $6.60 (0.33 pre split); MF's author..
Looking Beyond Citizens Republic's Earnings
By Zeeshan Siddique | More Articles
September 20, 2011 | Comments (0)
Don't let it get away!
After 12 consecutive quarters of losses, Citizens Republic Bancorp (Nasdaq: CRBC ) finally pulled itself out of the red last quarter. The regional bank has been showing improvements in its credit quality and other important areas. Therefore, I decided to take a closer look and find out whether it deserves a place in my portfolio.
Credit quality is improving. Citizens' nonperforming assets decreased for the seventh consecutive quarter, declining by 19.1% from the first quarter. Provision for loan losses and net chargeoffs plunged by 80% and almost 78%, respectively. However, there was a slight decline in net interest income, owing to lower average earning assets.
But as savvy investors, we need to look beyond earnings to decide whether a stock is worth investing in. Let's narrow things down by comparing the company with its closest peers along a few important parameters:
* Price/earnings (P/E) ratio: This ratio helps us look at a company's earnings relative to its price and determine how cheap or expensive the stock is.
* The price-to-book (P/B) ratio: Widely linked with value investing, and a relevant metric for banks and other asset-heavy companies, P/B gives us a clear idea about a stock's value, and indicates value opportunities.
* The tier 1 capital ratio: This metric, which divides the core equity capital by the bank's total risk-weighted assets, is a crucial ratio for measuring a bank's capital adequacy and its ability to stay afloat during bad times. It compares equity and reserves with total risk-weighted assets.
* The dividend yield: A stream of dividends can act like a cushion during market downturns. This metric shows how much a company is paying out relative to its price.
Take a look at the table below to get a better understanding of how Citizens Republic fares in terms of valuation when compared with its peers.
Company
Forward P/E*
P/B
Tier 1 Capital Ratio
Dividend Yield
Citizens Republic 6.1 0.45 12.4% N/A
First Midwest Bancorp (Nasdaq: FMBI ) 11.0 0.64 14.6% 0.5%
Wintrust Financial (Nasdaq: WTFC ) 13.0 0.71 12.3% 0.6%
Huntington Bancshares (Nasdaq: HBAN ) 7.8 0.88 12.1% 3.1%
Source: Capital IQ, a Standard & Poor's company.
*Based on 2012 earnings estimates.
The bank has managed to return to profitability on the back of sound asset quality. And its strong operations make me feel that there is room for growth. As is evident from the table, Citizens has the lowest P/E and P/B among its peers. This suggests that the market hasn't factored in the advantages of its falling bad loan percentage. This bank could really be an opportunity for Foolish investors.
The Foolish bottom line
Besides being attractively priced, the bank also has strong capital position. I would suggest Fools keep tabs on its operations, as I feel this stock reveals strong potential for growth. A convenient way to do this and stay ahead of most investors is to add these stocks to your Watchlist:
I never thought I would see last weeks prices in this stock again. I thought shares under $9 were history now, but IIRC it dipped down to just inder $7 at the peak of the crash Thursday. Somebody got a steal down there!
Fear rules it seems for now.
Nice !! It bucked the market and went green.
Finally; returned to profitability: $9.50 post split!
Citizens Republic Bancorp Announces Return to Profitability
prnewswire
c.
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CRBCD 9.44 +0.95
Press Release Source: Citizens Republic Bancorp, Inc. On Thursday July 28, 2011, 4:05 pm EDT
FLINT, Mich., July 28, 2011 /PRNewswire/ --
* Net income applicable to common shareholders was $18.5 million, or $0.46 per share for the second quarter, which includes a $10 million income tax benefit
* Pre-tax pre-provision profit was $33 million driven by a strong net interest margin of 3.56%, which increased 21 basis points from the second quarter of last year
* Credit trends remain positive
o Total 30-89 day delinquencies were $57 million, remaining around 1% of total outstanding loans for the 2nd consecutive quarter
o Nonperforming assets decreased for the 7th consecutive quarter to $152 million. New inflows to commercial nonperforming loans were below $25 million for the quarter
o Provision for loan losses was $18 million, declining 80% from the first quarter
Citizens Republic Bancorp, Inc. (Nasdaq:CRBCD - News) announced net income attributable to common shareholders of $18.5 million, or $0.46 per diluted share for the three months ended June 30, 2011. This compares to net losses of $74.3 million, or $1.89 per diluted share for last quarter and $44.7 million, or $1.14 per diluted share for the second quarter of last year. Results for the second quarter of last year included net income from discontinued operations of $5.2 million. For the first six months of this year, Citizens recorded a net loss from continuing operations of $44.5 million, compared with a net loss of $120.5 million for the same period of 2010. All prior year shares outstanding and per share calculations have been adjusted in this release to reflect the 1-for-10 reverse stock split that became effective July 1, 2011.
“We are very pleased to report net income for the quarter. Returning to profitability following 12 consecutive quarters of losses after the difficult work that we’ve done and the tireless dedication of our employees is a milestone for our company. These results are driven by our continued focus on pre-tax pre-provision profit and significantly improved credit trends resulting in a lower provision expense. At the same time, we maintained a strong loan loss reserve and improved our capital ratios,” commented Cathleen Nash, president and chief executive officer.
Balance Sheet
Total assets at June 30, 2011 were $9.5 billion, a decrease of $228.5 million or 2.3% from last quarter and a decrease of $1.3 billion or 12.4% from last year. Money market investments decreased $318.7 million or 64.3% from last quarter, as funds were used to purchase investment securities and pay off maturing wholesale funding. Total portfolio loans were $5.6 billion, a modest 1.3% decrease from last quarter and a $1.5 billion or 21.2% reduction from June 30 of last year. The decline from a year ago reflects the results of the recently completed accelerated problem asset resolution program. Investment securities increased $667.4 million or 30.6% from June 30 of last year, as we reinvested a portion of the loan portfolio paydowns and proceeds from loan sales.
Core deposits, which exclude all time deposits, totaled $5.0 billion at June 30, 2011, essentially unchanged from the end of last quarter, but an increase of $201.1 million or 4.2% over June 30 of last year. Our continued stable core deposit trends reflect our focus on generating and growing core deposit relationships. Time deposits decreased $226.0 million, or 8.5% from last quarter and $978.7 million or 28.6% from June 30 of last year. Both changes resulted from a strategic reduction in high cost single service and brokered time deposits.
Other interest-bearing liabilities, which include federal funds purchased and securities sold under agreements to repurchase, other short-term borrowings, and long-term debt, totaled $925.0 million at June 30, 2011, a decrease of $22.4 million or 2.4% from last quarter and a decrease of $316.9 million or 25.5% from June 30 of last year, as the result of a reduction in wholesale funding.
Capital
Citizens continues to maintain a strong capital position, and its regulatory capital ratios are above “well-capitalized” standards, as evidenced by the following key capital ratios.
This is in the after hours headlines tonight, so we should gap way up at the open tomorrow? My guess is $10/share gets blown out of the water on this news!
Note: Common book value is still $17.34/share!
The true longs like myself who converted their commons to CDs about 3 years ago are thinking about converting back to commons.
Watching for the market reaction to the DC budget battle.
If we convert we loose our interest, but the swing to 10.00/share looks real promissing. Quite an up push at end of Friday.
That should be an easy target to reach! I agree.
Nice recovery. But where do we go from here.
Still some selling and short covering going on. As soon as most of that goes away, I look for 10 bucks a share to happen soon afterwards.
I think this train just left the station folks! We broke through $8 to day, while everything else sold off!!!
Will this be one of those rare R/S cases that works? So far so good!!!
Nice closing rally, up almost 9% today, closing at the days high too. Nice, especially after R/S. I guess this is going to be one that does not sell off due to a R/S!!!!
Eco is still long here!
Matt; Hi!
New ticker symbol with R/S.. chart adjustment please?
R/S completed today. Trading as CRBCD now for 20 days, up over 5% this morning.
CRBC 0.67 after r/s announcement..Yahoo community spirit "bullish" after 1 for 10 R/S announcement!
Intersting. Usually it is opposite.. There must be some positive news leaking!
GLLs
Glad I didnt listen to those posts of yours for this stock lmao
Citizens Republic Bancorp Announces Reverse Stock Split
http://ih.advfn.com/p.php?pid=nmona&article=48058637&symbol=CRBC
News is out. They are doing a R/S, 10 shares turning into 1 share.
Are we about ready to do it again ?
tomster, I can see the value here for CRBC. Will have to sell a few W*MKQ's to get a starter position. As KQ's increase can up my position more. Have to watch very closely and try not to get greedy.
We have a passell of 100 share trades...which shows wide participation but which is sorta like putting the toe in the pool before jumping in.
We need many more trades in the thousands of shares. Buy trades, BTW.LOL!!
be smart and get it now....its going up
Its gonna pop nice....ACCUMULATE AND MARK MY WORDS, WE ARE ABOUT TO PROFIT NICE.
Sure looks like loading time is very near.
It's time to accumulate more shares. Is a price that will not see after the latest results presented. Next year dividend.
Best Regards.
Nice to hear, thanks! I am still long here.
Upgrade with target price of $1.40, almost its 52 weeks high level.
Oppenheimer Maintains Outperform On Citizens Republic Bancorp (CRBC)
By Jonathan Chen
Benzinga Staff Writer
May 02, 2011 7:29 AM
Symbols: CRBC
Tags: Oppenheimer & Co.
Posted in: Analyst Ratings, Analyst Color, Price Target
Share
0diggsdigg
Oppenheimer & Co. has an Outperform rating and a $1.40 price target on shares of Citizens Republic Bancorp (NASDAQ: CRBC).
In a note to clients, Oppenheimer writes, "As an outsider it is difficult to comprehend the incredible amount of time and energy that went into Citizens' multi-quarter accelerated problem asset plan in which $926M of loans were resolved. What we can say is that credit trends improved considerably in 1Q11 and we foresee the company's returning to consistent profitability in 2H11. We are now modeling a breakeven quarter in 2Q11 and forecast growing capital ratios. Our $1.40 price target equals 1.0x estimated '12E year-end tangible book value and 7x our '12E EPS."
Shares of CRBC gained 1 cent on Friday to close at 92 cents.
Citizens Bank Named Michigan's Preferred SBA Lender of the Year for the Third Year in a Row
Citizens Republic Bancorp, Inc. (MM) (NASDAQ:CRBC)
Today : Friday 29 April 2011
Citizens Bank announced today that it was recently recognized by Michigan's Small Business Administration as the Preferred Lender of the Year. This was the third year in a row Citizens received this prestigious distinction. Citizens ranked No. 1 in Preferred Lender Program (PLP) loans approved during the SBA's fiscal year that ended September 30, 2010.
"We are very proud to be ranked No. 1 on the SBA's Preferred Lender list for the third year in a row. This demonstrates our consistent commitment to supporting small businesses across Michigan," said Tim Dixon, Head of SBA lending at Citizens Bank. "PLP lending status is granted to lenders based on excellent performance and production history with the SBA. As a preferred lender, Citizens Bank has the ability to approve SBA loan applications in-house on behalf of the SBA. This delegated underwriting provides for extremely fast loan approvals and expedited loan closings."
SBA loans can be used for a variety of purposes including: permanent working capital, equipment purchases, building expansion and acquisition, business acquisition, debt refinance and revolving credit needs.
Dixon added that the benefits of SBA lending include: lower down-payment requirements, which in turn, preserves cash for working capital; longer amortizations, which helps clients with improved cash flow; and, no balloon notes that provide access to long-term permanent capital.
Corporate Profile
Citizens Bank is a subsidiary of Citizens Republic Bancorp (NASDAQ: CRBC), a diversified financial services company providing a wide range of commercial, consumer, mortgage banking, trust and financial planning services to a broad client base. Citizens serves communities in Michigan, Ohio, Wisconsin and Indiana with 220 offices and 249 ATMs. Citizens is the largest bank holding company headquartered in Michigan with roots dating back to 1871 and is the 55th largest bank holding company headquartered in the United States. More information about Citizens is available at www.citizensbanking.com.
SOURCE Citizens Bank
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About FirstMerit
FirstMerit Corporation is a diversified financial services company headquartered in Akron, Ohio, with assets of $14.9 billion as of December 31, 2012 and 196 banking offices and 203 ATM locations in Ohio, Western Pennsylvania, and Chicago, Illinois areas. FirstMerit provides a complete range of banking and other financial services to consumers and businesses through its core operations. Principal affiliates include: FirstMerit Bank, N.A., FirstMerit Mortgage Corporation, FirstMerit Title Agency, Ltd. and FirstMerit Community Development Corporation.
After Merger:
2009
FirstMerit signs a definitive purchase and assumption agreement to acquire $1.2 billion of deposits and 24 Chicago-area branches from St. Louis-based First Bank. FirstMerit also acquires substantially all of the asset-based loans from an affiliate of First Bank under a separate loan purchase agreement. This transaction closes in the fourth quarter of 2009.
2010
FirstMerit closes on and converts First Bank branches in Chicago to FirstMerit. FirstMerit also acquires and converts George Washington Savings Bank in Chicago with assistance from the FDIC. In May, FirstMerit acquires Midwest Bank and Trust in Chicago from the FDIC.
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