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SAMB SEC Suspension:
http://www.sec.gov/litigation/suspensions/2014/34-72450.pdf
Order:
http://www.sec.gov/litigation/suspensions/2014/34-72450-o.pdf
Admin Proceeding:
http://www.sec.gov/litigation/admin/2014/34-72451.pdf
POSTING BETTER EACH DAY NOW AT .02 CENTS.. WOW.. DON'T FORGET THE INSIDERS.. Major Holders
Breakdown
% of Shares Held by All Insider and 5% Owners: 40%
% of Shares Held by Institutional & Mutual Fund Owners: 0%
% of Float Held by Institutional & Mutual Fund Owners: 0%
Number of Institutions Holding Shares: 1
Major Direct Holders (Forms 3 & 4)
Holder Shares Reported
MARINELLO LEONARD 278,724 Dec 23, 2009
PERRONE STEPHEN L 111,543 Dec 23, 2009
This is the way to move a stock good things to come? Maybe good time to say glad I held this position.. or some may say this POS LOL
this is a very quiet one , we waiting !!!!!!!
First Citizens Bank posts solid earnings!
This could be a lotto play.First Citizens Bank has SAMB's assets.
Check the chart the SAR is now under our feet the trend has now turned.. We are on the way up.. http://stockcharts.com/h-sc/ui?s=SAMB&p=D&yr=0&mn=1&dy=8&id=p17700489491
we still waiting here !!!!
thinking financial stocks still not responding, government not really stimulating anything , no lending happening , maybe still a ways off !!!!!!!
This one is gone but not forgotten. I would love to see some of these dead financial start to run.. My fingers are crossed..
no , wasn't me !!! maybe somebody doing slow accumulation
Getting some trading volume is that you buying ??
NOT LOOKING GOOD..... MIGHT BE TIME TO BUY SOME MORE...LOL !!!
and still sittin on it !!!!
.025 --
U.S. Federal Reserve to inject billions of dollars to free up lending
Last updated at 3:03 PM on 10th May 2010
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Central banks will receive billions of U.S. dollars from the Federal Reserve, echoing crisis measures following Lehman Brothers' collapse.
Banks nervous about sovereign debt defaults are just not lending to each other.
Fed chief Ben Bernanke was to ship billions to the Bank of England, European Central Bank, Swiss National Bank, Bank of Japan and Bank of Canada, which in turn can lend to others.
Read more: http://www.dailymail.co.uk/money/article-1276498/US-Federal-Reserve-inject-billions-dollars-Central-banks-free-lending.html?ito=feeds-newsxml#ixzz0nYAyoRZE
we hoping a bottom has been and gets left behind !!!!!
Your up early... I still have about 75,000 shares... This one is going to be a big winner or a big loser for me.. I still think it's going to be a winner... A lot of accumulation the last few week when it should have been dirt... Insiders are still holding a lot of shares...
about the time you give up on it it'll run !!!
might be ,usually seems that way !!!
NOT LOOKING GOOD ,,, PROBABLY THE TIME TO BUY !!!! LOL
Volume is picking up looking good here we go..http://stockcharts.com/h-sc/ui?s=SAMB&p=W&yr=0&mn=1&dy=8&id=p40969801414
Does look like it finally found bottom. Tim
Ask is moving up no sellers here.. We will be looking at 50 cents very soon.. WWWWWWWWWEEEEEEEEEEEEE http://stockcharts.com/h-sc/ui?s=SAMB&p=D&yr=0&mn=1&dy=0&id=p68565343494
We are still trading and now the ask is .03 what's up with that ?????
FORDGT...thanks....for the info / input.....and, I'm not an "I told ya so" person....
I was actually replying to the "cover the short" position in another post.....as opposed to naked shorting which intentionally may never be covered....
the truth of the matter is you have a much better handle on this stock than I do....
quite frankly, ever since this started it's last downhill slide, I haven't been paying very close attention to this stock....
I don't want to be a purveyor of doom and gloom....but, I'm not seeing much light at the end of this tunnel....I've had a pretty good run with this over the last several years, maybe the stock gods are trying to tell me something....
whadda ya think?
Geo with all due respect this stock has a very big NAKED short position.. Not just a short position.. Any news of value on this stock will send it to the moon.. Hard to cover a naked short if no one is selling or any short for that matter.. I think you have seen this but if not take a look at this..
In December, 2009 the (SAMB) Sun American Bancorp SqueezeTrigger Price was $0.16. If you had purchased SAMB, the trade would have gained -87.16% as of today's price of $0.02. If you had traded 10,000 shares, you would currently have a gain of $-1,358.00. This can go the other way in a second.. I have been tracking the insiders buyS and sells and so far I have not seen any insider selling.. In real dollars that is $ 884,995 on the buy side and only $ 54,015 on the sell side. (( I think we will have to see .16 before it's over.. If I'm wrong you can use this post to say I told you so.. LOL .. Best of luck to us all.. I think Scooootrade may be one on the shorter because I still can not buy online with them but have had others tell me that they can buy on line with TDameritraade and etraeeed..
I bought all those cheap shares at or near the bottom price 0.011. I
am not worry about to sell them at 0.03 ~ 0.04. The shorter must buy
back those shares once the price surpass 0.02. The totally shorting
shares is very close to my long shares. I wait for them to buy mine at their huge loss. It is a lesson the short should pay and learn...
V_I....not enough volume for "shorters" to figure into the picture....besides most legit shorts are covered in principle before the execution of the short sale....
good luck selling 250,000 shs....it's going to take you 'till xmas....i'm not being a smart-a$$....but, ya just don't have any volume to work with....pray for volume.....
SAMB is already bottomed out at 0.011! It will soon test the recent high .03 again. The shorters have to cover their big short positions
at 0.02 or higher. Hopefully I can sell out my 250,000 cheap shares at 0.03 or higher. At 0.015 the market value is less than $170,000!
New 52-week low 0.011 was created today! Sell at the bid ASAP before
the closed bank hits another new low 0.01. Buy CBBO to make easy 10-
bag or 1000% return. There is an huge gap between 0.49 and 0.016. It
will be filled sooner or later! The book value is $2.309 per share.
as some might say: "my bad"......
You think so?
"The agreement only covers the assets and liabilities of Sun American Bank. Assets, liabilities and common stock of Sun American Bank's former parent company, Sun American Bancorp Inc., have not been purchased or assumed by First Citizens Bank."
http://www.marketwatch.com/story/first-citizens-bank-purchases-certain-assets-assumes-certain-liabilities-of-sun-american-bank-2010-03-05?reflink=MW_news_stmp
I hope your right !!!!!! If not I wonder why we are still at the 05 cent area..
the last sentence implies that we (shareholders) become part of First Citizens....so, we should see upward movement in PPS?
First Citizens Bank Purchases Certain Assets, Assumes Certain Liabilities of Sun American Bank
Friday 03/05/2010 5:41 PM ET - Globenewswire
Related Companies
Symbol Last %Chg
FCNCA 185.40 2.66%
SAMB 0.05 0.00%
As of 11:19 AM ET 3/5/10
First Citizens Bank, the primary subsidiary of Raleigh-headquartered First Citizens BancShares (Nasdaq:FCNCA), announced today that it has entered into an agreement with the Federal Deposit Insurance Corp. (FDIC) to purchase substantially all the assets and assume the majority of the liabilities of Sun American Bank of Boca Raton, Fla.
The FDIC has been appointed the Receiver of Sun American Bank by the Florida Office of Financial Regulation. On Monday, March 8, the 12 Sun American branch offices in South Florida will open under the First Citizens Bank name. Depositors will not sustain any losses with respect to those deposits assumed by First Citizens Bank. The announcement today is First Citizens' second FDIC-related purchase agreement in 2010 and its fourth in the last eight months.
"South Florida is a great market for our company, especially with our focus on individuals, small to mid-sized businesses and the medical community," said Frank B. Holding Jr., chairman and chief executive officer of First Citizens Bank. "This agreement will allow us to extend our presence in Florida and focus on building long-term relationships with our new customers. Our bank is recognized for its strength, stability and exceptional service, and we look forward to a smooth transition."
Today's transaction includes 12 locations in the following counties: Broward (Hollywood), Miami-Dade (Miami, Miami Beach and Coral Gables), Palm Beach (Boca Raton, Delray Beach, Boynton Beach, Palm Beach Gardens and Tequesta) and Martin (Stuart).
First Citizens Bank was selected to complete this transaction through a competitive bidding process. The purchase complements the offices currently operated by BancShares' IronStone Bank franchise in Palm Beach (Palm Beach Gardens) and Broward counties (Coral Springs and Fort Lauderdale). IronStone Bank has 13 offices across the state of Florida.
On Dec. 31, 2009, Sun American Bank reported total assets of $536 million, loans of $424 million and total deposits of $443 million. Under the terms of the agreement, First Citizens Bank has the option to purchase any owned bank premises or to assume the leases on any or all of the banking offices. The loans and other real estate owned by Sun American Bank and purchased by First Citizens are covered by a loss-share agreement between the FDIC and First Citizens which provides protection against losses to First Citizens Bank.
The agreement only covers the assets and liabilities of Sun American Bank. Assets, liabilities and common stock of Sun A
it was posted on the 16th of February. I couldn't hold my shares any longer. It's really a lotto play, in 2006 the FDIC asked SAMB to raise Capital or sell, the share price went up, but the housing market and economy was differen then. With no Pr's on raising capital, everything is hush hush, yet it's posted they filed the 10k on 2/16, borrowing money from a company that helps businesses whent they need capital. I sold my shares today, I amy buy back in later, but if you have the money to hold, there is a chance the bank will rebound, as it did before, but the way projections are coming in for 2010 bank Closings, when the bank gets bought out the shares are worthless as far as I am told.
what's the info about raising capitol ????
All you need is News and that could be days away or hours.
yeah they raised some capital, but when another bank buys SAMB out, and renames this SunAmerican Bank N.A., the share price $$ jumps and becomes oen in the same with the new bank.
yeah, I know this bank is up and running and they were able to raise the capital, I know they are paying their vendors, they have money, this would be trading much higher. On Etrade I had to call in to place the orders too Buy on SAMB.
Thanks for the feedback. I trade with snottrade and haven't been able to buy SAMB online with them for months.. Who knows maybe they have a short position in the stock.. Thanks again..
I bought online with Etrade on both occasions.
Did you buy online or did you go to a broker.???.. I haven't been able to buy online for a long time..
I bought in and I am a person nearby the main office.
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http://stockcharts.com/h-sc/ui?s=SAMB&p=D&yr=0&mn=1&dy=0&id=p68565343494
http://stockcharts.com/h-sc/ui?s=SAMB&p=D&yr=0&mn=0&dy=8&id=p91201488034
http://stockcharts.com/h-sc/ui?s=SAMB&p=W&yr=0&mn=1&dy=8&id=p40969801414
INSIDER BUYING !! http://www.secform4.com/insider-trading/1042521.htm
http://americanbulls.com/StockPage.asp?CompanyTicker=SAMB&MarketTicker=NASD&TYP=S
http://www.profitspi.com/stock-quote/samb.aspx
http://www.sunamericanbank.com/
First Citizens Bank, the primary subsidiary of Raleigh-headquartered First Citizens BancShares (Nasdaq:FCNCA), announced today that it has entered into an agreement with the Federal Deposit Insurance Corp. (FDIC) to purchase substantially all the assets and assume the majority of the liabilities of Sun American Bank of Boca Raton, Fla.
The FDIC has been appointed the Receiver of Sun American Bank by the Florida Office of Financial Regulation. On Monday, March 8, the 12 Sun American branch offices in South Florida will open under the First Citizens Bank name. Depositors will not sustain any losses with respect to those deposits assumed by First Citizens Bank. The announcement today is First Citizens' second FDIC-related purchase agreement in 2010 and its fourth in the last eight months.
"South Florida is a great market for our company, especially with our focus on individuals, small to mid-sized businesses and the medical community," said Frank B. Holding Jr., chairman and chief executive officer of First Citizens Bank. "This agreement will allow us to extend our presence in Florida and focus on building long-term relationships with our new customers. Our bank is recognized for its strength, stability and exceptional service, and we look forward to a smooth transition."
Today's transaction includes 12 locations in the following counties: Broward (Hollywood), Miami-Dade (Miami, Miami Beach and Coral Gables), Palm Beach (Boca Raton, Delray Beach, Boynton Beach, Palm Beach Gardens and Tequesta) and Martin (Stuart).
First Citizens Bank was selected to complete this transaction through a competitive bidding process. The purchase complements the offices currently operated by BancShares' IronStone Bank franchise in Palm Beach (Palm Beach Gardens) and Broward counties (Coral Springs and Fort Lauderdale). IronStone Bank has 13 offices across the state of Florida.
On Dec. 31, 2009, Sun American Bank reported total assets of $536 million, loans of $424 million and total deposits of $443 million. Under the terms of the agreement, First Citizens Bank has the option to purchase any owned bank premises or to assume the leases on any or all of the banking offices. The loans and other real estate owned by Sun American Bank and purchased by First Citizens are covered by a loss-share agreement between the FDIC and First Citizens which provides protection against losses to First Citizens Bank.
The agreement only covers the assets and liabilities of Sun American Bank. Assets, liabilities and common stock of Sun A
Our deposit base remains strong and has grown during the first half of 2009 by $15.7 million or 3.5 %. Our core deposits increased by 61% or $88 million since December 31, 2008. Our cash balances also increased $18.5 million or 112% from the end of 2008. The average cost of funds decreased and we believe will continue to decrease going forward. Management continues its focus on selling off the non performing loans and in general is working with our borrowers in order to mitigate their financial burdens. We continue to focus on raising capital through all means available to us including through our investment Banking
Sun American Bancorp Set to Acquire Independent Community Bank
Sun American Bancorp (“Sun American”) (Nasdaq:SAMB), the bank holding company for Sun American Bank, announced today the consummation of the merger of Independent Community Bank (“Independent”) with and into Sun American Bank for a mixture of cash and SBK common stock with an aggregate value of approximately $41 million. Independent operates one branch in Tequesta, Florida located to the northeast of Jupiter, Florida. Independent is a privately held commercial bank with approximately $137 million in assets as of December 31, 2006. Both Sun American and Independent received a 5-star rating from Bauer Financial for the 2nd quarter of 2006.
Michael Golden, Chairman and CEO of Sun American Bancorp, stated “This merger is a positive for both banks, will allow us to continue to strengthen our infrastructure and our expansion in the dynamic market of Palm Beach County, and will be immediately accretive to Sun American’s earnings per share.” As a result of the merger, Sun American will have 14 branch locations from Miami to northern Palm Beach County. The combined institution will have approximately $600 million in total assets and be one of the largest community banks operating in the fast growing markets along the southeast coast of Florida. The terms of the agreement call for each outstanding share of Independent common stock to be exchanged for 6.4463 shares of SBK common stock or $34.81 in cash subject to 42% of Independent’s outstanding shares receiving cash.
Tim Leathers, President and CEO of Independent Community Bank, said, “We believe that this transaction is an excellent opportunity to create a larger, stronger bank and ensures that there will continue to be a locally-owned bank in our community. Sun American Bank has a tremendous business and commercial banking presence in the growing Southeastern Florida markets. We will now be able to offer our customers access to an expanded network of Sun American Bank branches and a greater selection of products and services.” About Sun American Bancorp Based in Boca Raton, Florida, Sun American Bancorp is the single-bank holding company of Sun American Bank, a state-chartered, federal member bank engaged in a general commercial and consumer banking business. It operates thirteen branches in Miami, Broward and Palm Beach Counties in Southeast Florida. On December 29, 2006, Sun American completed its acquisition of Beach Bank, resulting in the acquisition of $114 million in total assets, $68 million of loans and $106 million of deposits. Sun American closed 2006 with $503 million in assets, $350 million in loans, and $403 million in deposits. For additional information, please visit our website at www.sunamericanbank.com.
About Independent Community Bank Based in Tequesta, Florida, Independent Community Bank is a Florida state-chartered commercial bank with approximately $137 million in total assets as of December 31, 2006 and operates one branch office. For additional information, please visit the Company’s website at www.freedomaccess.
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