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It's a buy for the last 4 days and your right next news story will be a life changer for this company.. Insiders are still holding and so are we..NO NEWS IS GOOD NEWS..http://americanbulls.com/StockPage.asp?CompanyTicker=SAMB&MarketTicker=OTC&TYP=S
I've been watchin' this one too...the deadline has passed. It won't be long before we hear something from somebody.
NO NEWS IN THIS CASE IS GOOD NEWS..http://stockcharts.com/h-sc/ui?s=SAMB&p=W&yr=0&mn=1&dy=8&id=p40969801414
If the insiders are holding solid so I'm I,,,,,,, target 3 bucks ... DO WE GO RIGHT TO DOLLARLAND ? http://www.secform4.com/insider-trading/1042521.htm
I think so but we have received no word from the Management to that effect only 2 day to d-day I would think that we get some news today or in the morning.. Now check this out it is now rated a buy hold as one day ago.. Interesting..http://americanbulls.com/StockPage.asp?CompanyTicker=SAMB&MarketTicker=OTC&TYP=S
somebody buying a little !!!!!!! from time to time , of course it could be mm's making artificial volume !!!!!!
Me to but things don't look good at all.. The clock is ticking..
Less than 350 dollars worth today but I'd sure love to see it pick up. Tim
Who is buying and why ?
Still holding and hoping for a upswing. Tim
I don't know if you are still holding but we show down 35 % and at the same time we have 14,992 buys and only 1,800 sells... LOL they are trying to take this down as low as possible.. I think news will come soon and I hope we hit the 3.00 target..
try page 17 of the 10q dated 8/14...(a typical example)
Which cap ratios? I got a guy interested in buying this bank.
Not to butt in but do they even have to report selling individual shares anymore as a pink with no reporting requirements? I'm not sure but I don't think so.
Tim
I do hope you are right a buy out could be wonderful news... BUT WHY AREN'T THESE GUYS SELLING STOCK THEY ARE IN THE KNOW ??
FORDGT.....a question and some speculation....
ques: isn't a stock buy-back considered a "material event" (i.e. one which directly affects the shareholders)?
if a buy-back is a material event, the SEC requires they announce it....and, from my experience, most buy-backs are announced....(my guess is because of the positive "propaganda" value alone)
buy-backs have to be executed at the bid.....a company CANNOT buy-back at the ask.....SEC rules....(but, I haven't been looking carefully at how many shares were executed at bid or ask)
SPECULATION......Stonegate Bank recently bought Integrity in Jupiter, Fl because Integrity was on "shaky ground" just like Sun.....although SAMB is 10 times bigger.....
anyway....the point is that Stonegate is looking to "acquire"....and, i believe they are also out of Boca Raton....so, who knows....but, there's a possibility....
Good morning GEO you are right .... A wise man would be selling at this point I believe because the news is so bad on every front.. But, the fact that I don't see the insiders selling and things like this insider trade are the things that make me hang in for what I think will be a trickster move because did you notice in the new release that Mike Golden refused to comment... What do you make of that ?.. and think about it we dropped to .02 and now we have a bid of .06 and .07 AFTER the bad news.. And check yahoo finance they show the current float having been reduced to about 6.5 million.. Is the company buying up shares and reducing the float by 2 million shares... REMEMBER THEY DON'T HAVE TO TELL US THAT..
Ford.....this is where you have to help me out....i saw that a couple of days ago....
but, but, but.......there are 2 guys filing the 8k and i thought 1 guy sold to the other....perrone to marinello? because perrone's form is maked "D" while Marinello's is marked "A"...."disposed"/"acquired"
I'm obviously not that good at this stuff and the US gov. makes forms so complicated....everything is a gov nightmare....
yes, i know the price was .636....which was also weird....
so, after looking at the whole thing.....and, the letter/code "C" on table I....which I believe is for derivatives like warrants should be on table II of the form... so, without further clarification it appears to me that one guy bought the others warrants/options
net result....please HELP!!!!
WOW, one bad news story after another, but the insiders (( aren't selling)) interesting.. For those of you who are interested check 12/23/09 one of the directors got about 15,000 shares on an option transaction that has always been bullish in my book check it out and let me know what you think.. Thanks in advance..
Yeap, you are correct. A lot of times these low floaters recover nicely after the over-reaction. Still holding a bunch here myself. Tim
Tim....i agree....but, i think the source of the trouble was the capitalization ratios.....they have been out of line for a while....i'd have to go back and review the filings.....but, just from memory, i think they had cash flow problems....bad mortgages....and, everything snowballed....
i don't pay very close attention to this stock....i've been in and out of this several times....
now, i'm stuck....
this was over 3 bucks a couple of years ago....stayed in the 2's for a while....then, the downhill slide
Biggest reason for PPS decline is the downgrade from NasdaqGM to the pinks I'd think. Tim
IPO$....i don't recall the numbers from memory....however, that's not what I look for in a bank....look at the capitalization ratios.....they are a better indicator of the banks "health".....as a matter of fact...read the last 8k and you'll have a better feel for why the PPS is declining....
what are the assets now?
FORDGT....you might be right about the spike, but SAMB has a few hurdles to get over before we see that happen....
i hate to say it, but, i think we'll be quiet until the end of the 1st qtr unless there is some surprise in store for us during the next few weeks or month....
Calm before the storm.... This one trades like (( GRA )) back at about .25 cents... News will come and I hope I'm on the right side of it.. Got a ton of marbles here... Looking for .60 on the gap up... Scooottrade still won't let me buy online.. I think the float is so small that we go to .60 1st spike.
this one is definitely quiet !!!!!
New numbers today.. Thursday at 1 PM not bad check it out small increase in revs and bottom line improves about a million bucks.. Interestingly insiders still holding strong with about 37 % of the float.. http://finance.yahoo.com/q/is?s=samb.pk ...Major Holders Get Major Holders for:
BREAKDOWN
% of Shares Held by All Insider and 5% Owners: 38%
% of Shares Held by Institutional & Mutual Fund Owners: 12%
% of Float Held by Institutional & Mutual Fund Owners: 20%
Number of Institutions Holding Shares: 9
Looks like it's time for every one to sell out of this one just traded for .02 cents game over ...COULD WE ALL SELL TOGETHER AT .03 SO THAT I CAN HAVE A VERY MERRY CHRISTMAS.. ALL WE NEED IS ABOUT 8 MILLION SHARES OF THE SELL SIDE.. NOW READY GO... AFTER YOU SELL PLEASE COME BACK TO THE BOARD AND POST A BIG SOLD HERE... THANKS AND MERRY CHRISTMAS...http://stockcharts.com/h-sc/ui?s=SAMB&p=D&yr=0&mn=0&dy=8&id=p91201488034
need some decent financials.....even then, the float is low, so finding big volume isn't going to happen any time soon...
a better corp outlook and some public interest is the ticket here...
Fell off a bit - just need some sustained buying and it is gone IMO. Tim
17x19 and 108 on the bid I'm ready !!! Someone lite the fuse.
Going green get ready for the run !!!http://stockcharts.com/h-sc/ui?s=SAMB&p=D&yr=0&mn=0&dy=8&id=p91201488034
Furthermore,the momo alone can make it trade at its high as was witnessed with ABCW and PCBC recently :)
Yesterday was classic short covering to .21 cents.. and if the shorts are now covered it's because something good is about to happen. The big deal here is only about 8 million float.. Boom I believe that this maybe the best stock in the market and notice only 9 boardmarks.. I wish we could get a little market awareness..
Steady as she goes so far :)
Hit 0.21 so far today :)
Plus 63% - great day........... Tim
tick tock tick tock :)
Remember the traders are still not able to be purchased on line.. As soon as traders can buy on line without calling the broker we are really going to fly... And Sars is now under our feet...http://stockcharts.com/h-sc/ui?s=SAMB&p=D&yr=0&mn=0&dy=5&id=p44353128243
SAMB .16 X .17 - any volume and it is up, up & away... Tim
up up and awayyyyyyyyyyyyyyyyyyyyyyyy :)
glta
SAMB - Here we go.... Tim
Very thin to a dollar :)
Bid is really building 23,000 on the bid only 1000 on the ask.. We getting close... LOOKING GOOD !!! check the link http://www.profitspi.com/stock-quote/samb.aspx http://stockcharts.com/h-sc/ui?s=SAMB&p=D&yr=0&mn=0&dy=5&id=p77988741114
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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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