is a 'Troll-Dad'
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Is this site new? Or did you guys just find it?
Edit: I see a counter on the bottom left of the main page. About 2200 views so far.
Couldn't agree with your position on that more. Posts hinting at such inside information or anything close will be deleted on sight. It hurts us more than helps us.
Added it to the I-box. Thanks for that.
With all the things we have going on right now, I am as fairly certain as you that we definitely see more volume in the upcoming weeks and months. I mean come now, when the PR about the sales staff came out we did over 2 million shares and hit 0.15 ...so this shows there are many on the sidelines just waiting for this company to hit some milestones, IMO.
Target price of $50.00/sh in ten years time.
Folsom Lake Bank Reports Second Quarter Profits
FOLSOM, Calif., July 15 /PRNewswire-FirstCall/ -- Folsom Lake Bank (OTC Bulletin Board:FOLB.ob - News), announced unaudited financial results for the six month period ending June 30, 2010. The Bank reported net income of $61,038 compared to a loss of $543,084 for the first six months of 2009. "We are very pleased that the operations of the Bank continue to progress as envisioned in our original plan for a classic community bank. The Bank continues to enjoy steady and manageable growth and a profitable operation during the first six months of the year," said Robert J. Flautt, President and Chief Executive Officer. "Our bank has built a strong foundation based on conservative operations, a community focus and a very personal approach to helping our clients with their banking business."
Folsom Lake Bank opened April 3, 2007 with 406 local investors. Two years later in July of 2009 the bank opened its second branch in Roseville near the busy intersection of Douglas Boulevard and Eureka Road. The branch has grown to $24 million in deposits and continues to attract new client relationships for customers looking for the personal touch. "The Bank is just now seeing the benefits of having two very attractive franchise locations in excellent markets. We look forward to continue strong and steady growth in both the Folsom and Roseville market areas," said David J. West, Chairman of the Board.
Net Interest Income for the six month period ending June 30, 2010 was $1,940,420, up $572,827 or 42% compared to the first six months of 2009, reflecting healthy growth in earning assets as well as a low cost of deposits. Expense growth was kept to just 6% over 2009 despite operating with a two branch system in 2010 compared to a one branch operation in 2009.
For the period ended June 30, 2010, total assets had grown to $113.9 million, an increase of $36.4 million or 46.9% from end of the second quarter of 2009. Total deposits were $98.5 million, up $37.0 million or 60.3% from one year ago. Total loans ended the quarter at $72.6 million, an increase of $23.5 million or 47.9% from the prior year. Investment securities were $39.0 million, up $19.9 million compared to the year earlier total of $19.1 million. The Allowance for Loan and Lease Losses (ALLL) now totals $1,609,940, or 2.22% of loans outstanding which provides a substantial cushion for problem loans.
"The Bank's focus will continue to be on building a strong balance sheet, maintaining a high level of liquidity and sustained profitability. Our assets are split nicely between a conservative lending portfolio and safe investments. Our growth has been remarkably steady since inception in spite of a weak economy. I expect we will continue to attract new customer relationships based on our classic community bank values of customer service, local knowledge of our communities and a focus on delivering what the customer wants. We are focused on long term profitability rather than short term results," concluded Flautt.
For quarter-end, the Bank continued to have very strong capital ratios. As of June 30, 2010, the Bank's tier-1 capital ratio stands at 10.07% and the total capital to risk-weighted assets is 15.26%. Both ratios are well above minimum regulatory standards to be considered a well-capitalized bank. Liquidity also increased substantially as the Bank increased investments and lowered the loan to deposit ratio from 79.9% to 73.7%. Liquidity improved from $27.4 million at June 30, 2009 to $40.8 million as of June 30, 2010. The Bank's investment portfolio consists exclusively of safe U.S. Government agency bonds, mortgage backed bonds that enjoy the full faith and credit of the U.S. Government such as Fannie Mae and Freddie Mac and fully insured certificates of deposits at other banks.
The Bank did not participate in the government TARP program and has no preferred stock that will need to be repaid and replaced with new capital. The Bank has no sub-prime loans and does not do sub-prime or any predatory lending. Additionally, the Bank participates in the Transaction Account Guarantee Program, which provides unlimited FDIC coverage on transaction accounts through December 31, 2010.
The Bank continues to be involved heavily in the community and in turn enjoys great support from the local customer base. Among the many organizations the Bank supports are the Mercy Hospital Foundation, the Sutter Roseville Medical Center Foundation, the Folsom Lake College Foundation and the new Performing Arts Center, the Eureka Schools Foundation, Folsom Chamber of Commerce, Roseville Chamber of Commerce, Rotary International, Kiwanis and the Placer County SPCA. The Bank also sponsors the Folsom Pro Rodeo, the Folsom Historical Society, and the Folsom, El Dorado & Sacramento Historical Railroad Association
Folsom Lake Bank is the area's newest community bank and has two locations. In Folsom, the Bank is located in the heart of the historic district at 905 Sutter Street, and in Roseville, the Bank is located at 2233 Douglas Boulevard, near the intersection of Eureka and Douglas. The Bank is a locally owned and locally operated full service commercial bank focused on small business owners, professionals and individuals in the communities surrounding Folsom Lake. Folsom Lake Bank is publicly traded on the Over-the-Counter Bulletin Board. For information please call Robert Flautt at 916-235-4570.
This correspondence may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act. All of the statements contained in this correspondence, other than statements of historical fact, should be considered forward-looking statements. Although the Bank believes the expectations reflected in those forward-looking statements are reasonable, it can give no assurance that those expectations will prove to have been correct. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and are not intended to give any assurance as to future results.
Folsom Lake Bank Reports First Quarter Profits
Folsom Lake Bank (CA) (BB) (OTCBB:FOLB)
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6 Months : February 2010 to August 2010
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Folsom Lake Bank (OTC Bulletin Board: FOLB), announced unaudited financial results for the first quarter period ending March 31, 2010. The Bank reported its first profitable quarter with net income of $44,727 compared to a loss of $461,803 for the first quarter of 2009. "The Bank continues to enjoy steady and manageable growth, and now a profitable operation, just as our business plan for a classic community bank envisioned," said Robert J. Flautt, President and Chief Executive Officer. "Considering our road to profitability was paved during the "Great Recession", we feel an even greater sense of accomplishment."
Folsom Lake Bank opened April 3, 2007 with 406 local investors. The profitable operation comes 33 months after opening the Bank. The Bank had its first full month of profitability in June of 2009 as envisioned in the original business plan for the Bank, however expenses associated with the opening of a second branch in Roseville put the Bank back in the red. "The Bank had been looking for a location on Douglas Boulevard in Roseville and the Board of Directors decided it was a terrific opportunity that we could not pass up," said David J. West, Chairman of the Board.
Net Interest Income for the quarter was $992,276, up $357,588 or 56% compared to the first quarter of 2009, reflecting healthy growth in earning assets as well as a low cost of deposits. Non-interest income also showed strong growth, improving from $66,545 in first quarter 2009 to $116,614 for the first reporting period in 2010, an increase of 75%. Even with this total increase of 56% in revenue, expense growth was kept to just 15% reflecting a focus on efficiency.
For the quarter ended March 31, 2010, total assets had grown to $104.1 million, an increase of $32.9 million or 46.2% from the first quarter of 2009. Total deposits were $89.3 million, up $34.1 million or 61.8% from one year ago. Total loans ended the quarter at $66.1 million, an increase of $27.7 million or 52.3% from the prior year. Investments were $32.7 million, up $11.3 million compared to the year earlier total of $21.4 million. The Allowance for Loan and Lease Losses (ALLL) now totals $1,534,940, or 2.32% of loans outstanding which provides a more than adequate reserve for problem loans.
"The Bank's focus will continue to be on building a strong balance sheet, maintaining a high level of liquidity and sustained profitability. Our assets are split nicely between a conservative lending portfolio and safe investments. Our growth has been remarkably steady over the last three years in spite of a weak economy. I expect we will continue to attract new customer relationships based on our classic community bank values of customer service, local knowledge of our communities and a focus on delivering what the customer wants", concluded Flautt.
For quarter end, the Bank continued to have very strong capital ratios. As of March 31, 2010, the Bank's tier-1 capital ratio stands at 10.67% and the total capital to risk-weighted assets is 16.47%. Both ratios are well above minimum regulatory standards to be considered a well-capitalized bank. Liquidity also increased substantially as the Bank increased investments and lowered the loan to deposit ratio from 78.8% to 72.8%. Liquidity improved from $27.1 million at March 31, 2009 to $37.4 million as of March 31, 2010. The Bank's investment portfolio consists exclusively of safe U.S. Government agency bonds and mortgage backed bonds that enjoy the full faith and credit of the U.S. Government such as Fannie Mae and Freddie Mac.
The Bank did not participate in the government TARP program and has no preferred stock that will need to be repaid and replaced with new capital. The Bank has no sub-prime loans and does not do sub-prime or any predatory lending. Additionally, the Bank participates in the Transaction Account Guarantee Program, which provides unlimited FDIC coverage on transaction accounts through December 31, 2010.
The Bank continues to be involved heavily in the community and in turn enjoys great support from the local customer base. Among the many organizations the Bank supports are the Mercy Hospital Foundation, the Sutter Roseville Medical Center Foundation, the Folsom Lake College Foundation and the new Performing Arts Center, the Eureka Schools Foundation, Folsom Chamber of Commerce, Roseville Chamber of Commerce, Rotary International, Kiwanis and the Placer County SPCA. The Bank also sponsors the Folsom Pro Rodeo, the Folsom Historical Society, and the Folsom, El Dorado & Sacramento Historical Railroad Association
Folsom Lake Bank is the area's newest community bank and has two locations. In Folsom, the Bank is located in the heart of the historic district at 905 Sutter Street, and in Roseville, the Bank is located at 2233 Douglas Boulevard, near the intersection of Eureka and Douglas. The Bank is a locally owned and locally operated full service commercial bank focused on small business owners, professionals and individuals in the communities surrounding Folsom Lake. Folsom Lake Bank is publicly traded on the Over-the-Counter Bulletin Board. For information please call Robert Flautt at 916-235-4570.
This correspondence may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act. All of the statements contained in this correspondence, other than statements of historical fact, should be considered forward-looking statements. Although the Bank believes the expectations reflected in those forward-looking statements are reasonable, it can give no assurance that those expectations will prove to have been correct. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and are not intended to give any assurance as to future results.
SOURCE Folsom Lake Bank
I will be looking to add this stock to my portfolio at any price under $10.00/share soon. The company's financial position is extremely conservative and solidly positioned for future growth.
Better days ahead. That's my belief! Somewhere in Bath, NH something is a'cookin.
This is a good thing right? Never heard of these guys.
Saw that..damn! LOL
It would appear that they want our shares...heheh no way!
Regardless of the tiny blocks being sold, look at the bid support now. All at .09 and above. Let's see some green today!
Agreed. Both the stock and the board have a markedly different personality. More mature, IMO. Hehehe
Bid support remains solid, I will totally eat my shirt if we close green today, but I honestly don't expect it nor think it probable.
And even stronger bid support now. How strange...
For all this time without news and for a Friday, I'd say more than well!
Yeah, I think the (and I say this a lot) ducks are really lined up now, in a tight, neat, little row. I saw that ask being lowered! WTF is up with that? No reason to have it at 0.11 that whole time anyways as far as I'm concerned.
I'll be damned. Someone actually bought a decent amount of shares at ask. We've got some solid bid support like I've never seen in this stock before. What is equally amazing is the unmoving, albeit thin, ask lineup.
ding ding ding! We have a winner! I too think this will maintain the .09-.12 range until further news. Total lack of volume indicates that no one wants to part with their shares. We went down on 40k of volume today and there wasn't much selling in that volume either. Patience is a virtue!
Not to mention there is no obvious dilution since the float got "gagged", that is major.
Yeah, stuff like that should always be backed up with a reason or explanation that the whole board can agree with in addition to adding sayings like, "in my opinion".
I really would hate to see this place filled with baseless rumors and misleading intent.
Missed that one. It's removed, as its clearly off topic here.
Either that or someone bought the report and discovered something! Just kidding, but hey anything could happen today or this week.
We might just do that. It's not even power hour yet!
The bid support is absolutely nuts now. It's like the investors of this stock are trying to squeeze water out of their certificates they are holding so hard.
You certainly are right there. Although our short interest wasn't much, a ~93% decrease was amazing.
Any, and I mean ANY PR that lists a contract larger than $350k with or without projections for further contracts near or above this dollar range, and it'll get intense pretty quick here.
Well this can always be seen as a good thing. I would definitely prefer day 3 of a Mexican stand off as compared to a gradual low-volume sell off! News, and really good news at that, would send this thing into the stratosphere.
And a 50k share buy at ask...
This is definitely holding up way better than I thought it would this week assuming no news. A few good buys just cracked off.
I guess people on the sidelines are realizing that it isn't pulling back as far as it used to in the lulls between updates as it has in the past.
No sellers. Strong bid support even if it is a huge spread, three MM at .10 and no takers for a while now.
Definitely possible, but its a dice roll as news could come whenever. Just joshing you though!
Are you going to buy a starter position in this stock any time soon? IT'S TIME!!
LoL! We'll alternate man---I promise!
I humbly agree. Take the MOD spot again.
PFFFFT! Don't feel bad, it's my pleasure.
$30 ain't nothing considering the DD you contribute. Keep up the good work, my good man.
I honestly can't blame you for having those thoughts. I can honestly say I had them myself when the BP deal went sour and then the float got gagged, at etc. There are forms that need to be filed if shares are added by insiders and so far I have not seen any dilution. I believe something substantive is in the works and I really cant say I've had these thoughts about other stocks I've played.
Yes, they had a horrible start. That failed merger set them back substantially along with a few other dealings that failed to come to fruition.
What part of what I wrote states that they aren't doing the right thing (and in a major way) this time? Just letting it be known that I take the good with the bad here and do expect better things in the relative short term from this company.
Fully agree. This company's track record has been horrible. However, we did deliver and get paid for booms delivered in the GOM. Had we committed more resources and made more booms, we could have ended up bankrupt. The latest PR about adding six salespeople is a clear sign that this company is preparing for future orders beyond what it has ever attained before. I continue to take the wait and see approach with this one in terms of contracts signed and accounts receivable booked.
I'll take that close, quite good for a Friday. Have a great weekend all!