Indeed Salty. It's been interesting to witness. I hold a couple small banks in my portfolio right now and one of these two is getting beat down rather severely... All I can think is, it's an opportunity to add at blockbuster prices. What do you think Big Cat?
HSBC buys Silicon Valley Bank UK, protecting deposits
This is a developing news story. Please check back for updates:
Are we about to head into a period that makes the banking crisis of 2008 look like a pleasant day at the beach? I'm thinking that how things play out next week should tell us quite a bit.
That's a super good looking piece of work!!!!!
$RIBT , you need to try a "vette"
I sure hope they have a good conference call tomorow. In the past the stock wouls have a pre earnings ralley, then fizzle with a so so CC. Maybe this time with a dip instead of a rally it goes up this time after hours tomorrow and Friday.
RIBT will soon have me in a Rolls.
Make bank with $RIBT ask WOW HAPPENS & SALTY DOG.
Sing into Spring, February 20, 2022: Children's Chorus of Greater Dallas
Joy In The Morning Diane Davis. Ina Rusu singer, music and collaborator.
TY very much for sharing. It wouldn't be a shocker to see the pps move up to the 20 buck level in 12 months or less.
Doesn't hurt that "Patriot’s book value per share rose to $16.69 at June 30, 2021"
and that they're making $$
Patriot Reports Second Quarter 2021 Net Income of $1.0 Million
Hey, Lazarus, that chart looks very interesting, TY
PNBK worth a look
I haven't really looked in a while. Most of my time has been spent getting "Doved". And when not getting "Doved", I spend my time concentrating on bridge and fishing....... I have also been doing some research into the family tree. Even if it turns out the tree is some variety of banana, I still want to know a little more about my long gone kin. I will be visiting a couple of old cemeteries next week.
No good bank stocks this month?
Your welcome, thanks, and doing very well
TY for bringing PNBK back to my attention. If I remember correctly, the pps was right around a buck when I first looked at it 8 or 9 years back. Those who bought in back then, if they were patient, have been amply rewarded. And it appears that the rewards will keep on piling up.
Hope you have been doing well.
PNBK lost money last year but they're back on track.
Note the form 4 just filed by CFO
Every now and then I'll look around for a troubled bank with some potential for a northern rise in it's pps but I just haven't seen one as of late......... I might be a little more successful in finding one if I could get my mind off of fishing, bridge, and how to avoid a ten mile long Honey Do List. LOL
Banks off Salty's watch list?
PNBI (Pioneer Bank - Virginia)
Book Value: $32.72
Moving Value: $25.00
*This currently represents a 24% discount to Book Value.
Health Rating(Pioneer Bank) from Deposit Accounts: A+
Bank Tracker(Pioneer Bank): https://banktracker.investigativereportingworkshop.org/bank/6913/pioneer-bank/
What I've mostly been doing is bouncing in and out of oil stocks. Generally, I buy in the morning and sell a few hours later but every now and then I get stuck for a while. For example, I bought shares of GTE for the 31th time last week at .814 and the pps did climb a bit but then immediately went south. I hope to be out of it in a day or two and preparing to buy in for a 32nd time.
I hold no bank stocks at present. I have looked at a few but haven't found anything that I considered exciting.
I do have some shares of RIBT which I have held for a while.
I never mentioned FUNC when I bought it at ~ $11.00 or MFBP at $3ish.
out of FUNC now.
Gobbled up shares of UNTN when it dropped last year and added to ALBY
Also bought some PMBC at ~ $4.00
More recently I bought CVCY $16ish but it moved up pretty fast and I sold out.
Been very actively trading; posting, not so much.
Isn't it time for you to come up with a regional bank stock that will make us all filthy, stinking, vulgar, rich?
I hope you have been doing well during these strange times.
U.S. Watchdog: Large U.S. Banks Can No Longer Deny Funding To Oil & Gas
By Charles Kennedy - Jan 14, 2021
Days before the end of the current Administration, a U.S. banking industry regulator finalized a rule under which large American banks cannot deny lending money to oil and gas companies.
The Office of the Comptroller of the Currency (OCC) released on Thursday its finalized rule to ensure the so-called fair access to banking services, under which “banks should conduct risk assessment of individual customers, rather than make broad-based decisions affecting whole categories or classes of customers, when provisioning access to services, capital, and credit.”
Banks have grown increasingly aware of the reputational consequences of providing lending to oil and gas projects in sensitive areas such as the Arctic, for example. In the United States, Goldman Sachs said in December 2019 that it would decline to finance new Arctic oil exploration and production and new thermal coal mine development or strip mining. Wells Fargo, JPMorgan, and Deutsche Bank have also said they would stop financing new oil and gas projects in the Arctic.
The rule, expected to take effect on April 1, 2021, is set to apply to the largest banks with more than $100 billion in assets.
The largest U.S. banks, however, have criticized the rule during the comment period that ended last week, saying that the new rule “would also appear to prohibit banks from using subjective judgment and qualitative considerations, including reputational risk, in deciding whether to provide a financial service, which is entirely inconsistent with how the OCC has historically expected banks to make risk management decisions.”
Related: Saudi Arabia Starts New Bull Run In Middle East Oil
Commenting on the finalized rule, Greg Baer, president and CEO of the Bank Policy Institute (BPI), a research and advocacy group for big U.S. banks, said on Thursday:
“The rule lacks both logic and legal basis, it ignores basic facts about how banking works, and it will undermine the safety and soundness of the banks to which it applies.”
The incoming Biden Administration has several ways to stop the rule from taking effect, The Hill comments, including by a Congress review action or a delay in enforcing the rule from the new acting comptroller that President-elect Joe Biden will likely name next week while his nominee for the role is confirmed by the Senate.
By Charles Kennedy for Oilprice.com
And Merry Christmas to you too my wonderful friend.
Hmmm, I wonder if the Tuesday election has the market doing strange things tomorrow? It should be interesting to watch regardless of the direction the market takes.
That was probably one of them. LOL
I saw that song you posted at The Bridge that was 1000 years ago. Was it your song to her?
About a 1000 years ago I was dating a very pretty exchange student from Spain. I wonder if she uses CAIXY?............. I hope she's still with us.
I've never been to Spain, but I've been to Oklahoma.
CaixaBank, S.A., together with its subsidiaries, provides banking and financial products and services in Spain and internationally. The company operates through Banking and Insurance, and Non-Core Real Estate Activity segments. The Banking and Insurance segment engages in the banking business that include retail banking, corporate and institutional, and cash management, and market service activities; insurance business; and asset management business. The Non-Core Real Estate segment provides financing for non-core real estate assets, such as non-core developer lending, foreclosed real estate assets available for sale and rental, and other real estate assets and holdings. As of December 31, 2018, the company served its customers through 5,110 branches comprising 4,608 in Spain and 502 internationally; and approximately 9,425 ATMs in Spain and 1,369 ATMs in Portugal. CaixaBank, S.A. was founded in 1904 and is based in Valencia, Spain.
Yeah, I'm doing alright IA. A few minor bumps here and there. Overall, still a relatively normal life considering the turmoil. How are you navigating things down yonder? I hope you're safe as well.
Hey Joey. How ya doin' in all this mess? Safe, I hope.
I don't think that I'll be buying a butt load of shares in ONDK anytime soon but I do think it's certainly worth an occasional peek. On Deck Capital, Inc. just might have a future.
I took a look at the first one on their list: BKU
its trading at about 66% of BV
but it lost around $31 million dollars in the first quarter!
Then I looked at FHN --- trade at around 62% to BV
They only made .04 per share on the quarter.
I may have to add more UNTN because its trading at around 58% to BV and that little bank managed to make .35 cents per share on the quarter
I might take a look at some of the others but certainly not impressed with the 2 I looked at.
What a great article, Thanks for posting IA!