Imperial Capital Bancorp, Inc. (fka IMPCQ)

[Renee]

IMPCQ: Bankruptcy plan effective. All equity interest cancelled. Deletion time 9:04:48

http://www.otcbb.com/asp/dailylist_detail.asp?d=06/11/2012&mkt_ctg=NON-OTCBB

[db7]

was wondering why the .001 bid was getting hit... thanks for the heads up...

not sure why this shell wasn't preserved for the nol's as it seemed was an option earlier on?

[Value_Investor]

The common shares may be canceled today or tomorrow per court file?

[db7]

some court hearing on Dec 20th per some doc i received in the mail

[MadBrewer]

No, got out Dec. 15, took a $300 lost, it was a long shot.
What the he11.

[Value_Investor]

Bankruptcy filed formally on last Friday! I bet the pos scam may hit
the new low 0.005 or even 0.001 on the next week. Sell at bid ASAP!

[vlftraders]

http://esignal.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingCONVPDF1?SessionID=62R1HNCDKULvrGB&ID=6963868

VLF

[vlftraders]

LOS ANGELES, Dec. 18, 2009 (GLOBE NEWSWIRE) -- City National Corporation (NYSE:CYN - News) today announced that its wholly owned subsidiary, City National Bank, has acquired the banking operations of La Jolla, Calif.-based Imperial Capital Bank in a purchase and assumption agreement with the Federal Deposit Insurance Corporation (FDIC).

City National will acquire approximately $3.4 billion in assets and approximately $2.2 billion of deposits, including $500 million of core deposits, as of September 30, 2009. Imperial Capital Bank's $2.6 billion in loans will be subject to a loss-sharing agreement with the FDIC. City National expects the acquisition to be immediately accretive to earnings per share.

"Imperial Capital Bank is a very good fit for City National, given that eight of its nine locations are in communities we serve," said Chief Executive Officer Russell Goldsmith. "When we complete the integration, Imperial Capital's clients will benefit from the much greater capabilities and services of City National, and the clients of City National will enjoy the added convenience of an expanded branch network. In addition, we're pleased to contribute to the increased stability of the banking system with an acquisition that will enable City National to become a somewhat larger and more efficient and profitable company."

Today's acquisition announcement follows a decision by the California Department of Financial Institutions to close Imperial Capital and appoint the FDIC as receiver. Imperial Capital's $2.2 billion of deposits include $500 million in core deposits and $1.7 billion in certificates of deposit. Its assets include $2.6 billion in loans, which consist of approximately $1.6 billion in multi-family residential loans, $600 million in commercial real estate and commercial and industrial loans, and $400 million in construction loans.

Imperial Capital Bank's nine branches will reopen for normal business hours on Monday, December 21. They will continue to operate under Imperial Capital's name until the company's systems are merged with those of City National Bank in the first half of 2010. Until then, Imperial Capital's clients should use the same branches they do today.

Imperial Capital's depositors will benefit from the strength and soundness of City National Bank, and their deposit accounts will remain insured by the FDIC, just as they were before the acquisition. Imperial Capital's clients will retain complete access to their money, and they may continue to write checks and use their ATM and debit cards. Checks drawn on Imperial Capital Bank will continue to be processed. Loan customers should continue to make their payments as usual.

ABOUT CITY NATIONAL

Headquartered in Los Angeles, City National is backed by $18.4 billion in total assets. The company provides banking, investment and trust services through 64 offices, including 16 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada and New York City. City National and its eight majority-owned investment affiliates manage or administer $53.4 billion in client investment assets, including nearly $35 billion under direct management.


VLF

[John-of-Rock]

Did some DD, Will be smiling, probably before 12/31!!!!

[danrpoints]

Wish it were me.
IMPC looks like the bottom is in. There has not been any sells in about an hour. It traded above .08 the last few months.

[bottomout]

These usually come around

[bottomout]

That's what I look for sometimes depending on how thin. I like Gumzas board. Used to hang out there when I had more time. LBTF down 78% also GL

[danrpoints]

I bought in today to play the bounce. On Friday, it was at .08-.10. That is a 5 bagger from here.

[bottomout]

Down 80%, are you still in ?

[MadBrewer]

Have you checked out that branch yet?
Curious about any thoughts.

[MadBrewer]

Forgot to cancel a limit order so, I guess I'm back in again.
Really hard to find any info on this bank, & this C&D (cease & desist) order it's under had me bail @ .16 when I had a .30 & .20 position @ the time so, we'll see.

With the California economy, especially in the Dago area as it is, I see nothing positive in the future to for such a small bank.
I'm a union electrician in Cali & the Dago area has been dead for quite a while now. Perhaps the foot IMPC made in the east coast is a step in the right direction.

I see this stock as a "through a buck or two" @ it see what happens in a year or so. If it flops, it was "slot-machine-mad-money" any way, no big deal.

Can't find any info at all about why the steady dive since July 2007 when it was a $50 stock.

I'll keep an eye on this one & see what it does.
I tried to sell when it was up to .70 a few months ago but the bid price was only like .30 so, like I said, it's a buy & forget for now.

[tdurden86]

Lets get this train moving, I give it till next week to be this stagnent

[tdurden86]

CEO commited to NOT selling shares. This is one company that is so frugal with selling of shares. The public was scared out of this stock because some news article said it wasnt feasable to sell enough stock to make it above MIN Capital Requirements so it tanked Mid Nov. I can tell you from looking at there SEC fillings that there are plenty of assts but no cash. They have 9.1 million shares outstanding and there is 2.7 billiion in assets. NO BRAINER. Last time stock was sold it was a dilution of about 50% and it was durring the realestate bubble burst. I foresee this will be purchased by Wells Fargo in a mnth maybe 2 tops for a min of 5 dollars a share, or 45 million dollars approx. for the company

[tdurden86]

It is still going to be a good trade for short term, they are going to get bought out and soon. Min capital requirements have already put them on Cand D order from FDIC and it is only a matter of time before they sell to a bigger bank so all their assts get taken from them.

[r2g2]

Wish you'd brought it to my atention yesterday.

[r2g2]

Wish you'd brought it to my atention yesterday.

[tdurden86]

anyone want to start talking about this yet!!!

[tdurden86]

Ok I'm all loaded up averaged in at .20 looking to get it a bit lower before the news pops. Guys this is not going to zero, look at the assets, if they can't find a buyer or merger for these they shouldnt be running a bank. If I were rich enough I would do it. Someone give me your opinions on this.

[lazyeye]

There is a branch close to me...just starting the DD, so I'll go in and snoop around next week...often, I can gauge a company's kharma just by the "mood" of its employees...I know it sounds stupid, but hey, it's worked for me in the past, and worked well.

The price seems stable at .25, and I know they have had FDIC troubles...hasn't seen a dollar since April? Could have some good upside...

CEO making $625K a year is a bit sour tasting...

Yeah, I could see buyout or merger, but at what price?

Lack of volume with this stock makes it unappealing at this point so a buyout or merger announcement with a good strike price is essential IMO.

[tdurden86]

Seems people didn't already know about the CD from FDIC untill that article... well I'm still thinking merger or buyouy as good posibility, I wouldn't read much into todays drop off. Anyone think that a bank worth 4.2 billion is not going to get buyout and merger deals . please this is an easy call, MERGER MERGER MERGER, or BUYOUT, BUYOUT, BUYOUT -- which is more likely?

[tdurden86]

My thoughts aswell, got in at .40 and 45 and again at .55 today. We'll see but I suspect some decent results out of the "non performing assets" The only problem is they were on cease and desist from FDIC b/c of the non compliance with Tier 1 capital reserves, someone see if they can find out if that still hold true. It was in august after they reported.

[Stock]

DL Date Symbol Company Name Effective Date OATS Reportable Flag Comments

12/26/2008 IMPC Imperial Capital Bancorp, Inc. Common Stock 12/29/2008 Y From NYSE (IMP)

http://www.otcbb.com/asp/dailylist_search.asp?DirectSymbol=IMPC&OTCBB=ALL

[Yetti]

What part of CA they from? I am from southern CA and I think the houseing rock bottom has hit here. A second wave of foreclosers hit a couple months ago. I think the housing market has allready flipped to new ownership.

[tdurden86]

Small regional bank in CA, they were making modest profits and paying 5% divs untill they made a purchase of mortgage backed securities and the protfolio is not performing. This is what has casued the drop becasue the non performing assts were upwards of 8%. I forsee an increase in the PPS because of the house market getting better and all the loans that they have that are frclsd or delinquent will either be sold or catch up on pymnts. I dont think you will see a sharp decline in pps eith if earning are not great, this is priced in at this point. remeber this was a 40-60 dollar stock back in 2008. I have full confidence that the banking industry can pull out and make good money and the banks all have show increased PPs except this one, they have came up a little but nothing near what they are worth

[Yetti]

What is thier story?

[tdurden86]

Lets get some thoughts on IMPC!!

As we already know bank are under the gun, mergers, buy outs, all are possible, but either way you slice this one, undervalued is the end result, target price was 30 cents after last earnings, and they have been running alot of promotions to get their capital cussion above min requirements.
If anyone has thoughts please let me know what you think about a new target.