Pacific State Bancorp (PSBC)

[War Shark]

When eyes get on this it will go huge on a 3.7M OS

[jchords]

Huge without much attention

[TIMBERWOLF]

Looks Great! Huge move from the subs

[War Shark]

OTCM links this to a bank w/ a merger 9/1 https://www.otcmarkets.com/stock/PSBC/profile

[S3lfMade]

Mechanics bank website says the same thing as website on OTC markets about merger happening. Hope to see some filings or news before next Friday

[War Shark]

.16 on the ask, she's moving!

[TIMBERWOLF]

Actually they did when who ever changed it on otc markets for the contact info

[jchords]

The only concern is that they’ve never officially announced any connection to this stock. No filings for a while. But I guess it’s implied. I have some shares so excited to see what happens

[TIMBERWOLF]

its been on otc markets since ive been here!

[War Shark]

On OTCM, their page links to this bank. Merger 9/1 https://www.otcmarkets.com/stock/PSBC/profile

https://www.rabobankamerica.com/Personal

[TrendTrade2016]

sweet monthly blue sky!!

[buxmaker]

Unreal. This thing could hit dollars, if that is true.

[TIMBERWOLF]

Huge move!

[TrendTrade2016]

in on PSBC

[S3lfMade]

https://www.rabobankamerica.com/Personal


https://www.linkedin.com/company/mechanics-bank

[jchords]

Where’s the link to this information?

[S3lfMade]

Website says merger will close with Mechanics Bank 9/1/19

Mechanics Bank has $5.4 billion in assets and 43 branches.

[jchords]

Such a low float. Could hit dollars if there were more eyes on it.

[buxmaker]

Looks like the PSBC .10's are about to fall.

[TIMBERWOLF]

nice run so far

[jchords]

Will do. Someone is definitely loading this slowly

[buxmaker]

Let me know if you find out anything. Someone just hit the .075's. Several bids lined up over .06. Many of these once-dead stocks that have suddenly come to life have been really profitable lately. Hopefully this is another one.

It seems to be really thin, it moves higher on light volume. If some large buying ever comes, it could really move.

[jchords]

It does. Very low float. Just not sure what the cause for the volume is. Bought some shares as well. Might buy more if I can find out some more info

[buxmaker]

PSBC keeps going up. Looks pretty solid. I bought some yesterday.

[jchords]

Another day with higher volume than usual. Haven’t been able to find much on what’s going on behind the scenes

[jchords]

Any reason for the volume today?

[TIMBERWOLF]

.11 tapped

[Frugivore]

Bought & Sold PSBC for 3X gain intraday after costs today.

[kranthikumar]

PSBC is gaining some momentum

[xyang01]

A lot of the stocks in the banking sector shot up yesterday...well mostly those in the $1 range. My guess is because of Greece asking for the bailout that was promised.

[New to this]

I am not for sure, have not seen any news. But I am enjoying the ride. GLTA

[The Night Stalker]

why the run up?

[CHA$E]

HEY~HEY.... (from the .40's) EXPLOSIVE hits coming...

can we see those 1's soon, then 2's

enjoy

;)

[NumberOne]

Still overvalued imho. If this goes to .50 I might be interested.

[NumberOne]

The bid is way down from a few weeks and months back. The insiders are not buying. It seems like no one is buying. There is a big spread on most days and the volume is extremely light. Like I said before, to anyone interested in buying shares I would put in a very low bid but that's just me and what do I know?

[NumberOne]

Great article in the WSJ yesterday (Heard on the Street section) regarding regional banks. No mention of PSBC, of course, but still a great article. From a recent unaudited PSBC release:

"Despite the loss reported for the first quarter of 2009, Pacific State Bancorp has increased loan loss reserves from 1.95% of gross loans at December 31, 2008 to 2.11% of gross loans at March 31, 2009. In addition, the Company’s risk based capital levels have increased from total risk based capital ratio of 11.50% for the Company and 11.34% for the Bank at December 31, 2008 to 11.74% for the Company and 11.60% for the Bank at March 31, 2009. The minimum total risk based capital level required to be considered “well capitalized” by regulatory standards is 10%."

http://www.pacificstatebank.com/PSBCurrentFinances.html

[NumberOne]

There seems to be plenty of willing sellers. I entered a few very low bids and saw the price come way down toward my bids throughout the trading day on two occasions recently. If anyone is looking to buy shares I would encourage using a low-ball bid approach imho.

[NumberOne]

Will this company survive or go belly up? Any thoughts? I haven't bought shares but have been following it. It seems to have found a bottom for now but the liquidity is very low and it seems very risky to hold bank stocks right now.