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DALLAS--(BUSINESS WIRE)--Texas Pacific Land Trust (NYSE: TPL) announced today that it has entered into a contract for the sale of approximately 19,607 acres of land in Upton/Crane Counties, Texas for aggregate consideration of $19,840,000. The Trust will retain its oil and gas royalty interests in the acres being sold. The closing of the transaction is scheduled for January 15, 2015.
SandRidge Energy, Inc. Announces Mandatory Conversion of $200 Million 6.0% Convertible Perpetual Preferred Stock
Date : 12/22/2014 @ 5:35PM
Source : PR Newswire (US)
Stock : Sandridge Energy Inc. (SD)
Quote : $2.03 0.12 (6.28%) @ 12:05PM
OKLAHOMA CITY, Dec. 22, 2014 /PRNewswire/ -- SandRidge Energy, Inc. (NYSE: SD) today provided the following notice regarding its 6.0% Convertible Perpetual Preferred Stock (Cusip 80007P885) (the "Convertible Preferred Stock").
As of December 21, 2014, pursuant to the mandatory conversion requirement of Section 8(a) of the Certificate of Designation governing the terms of the Convertible Preferred Stock, each share of Convertible Preferred Stock automatically converted into 9.211496 shares of Common Stock of the Company. Effective as of December 21, 2014, dividends on the Convertible Preferred Stock ceased to accrue. The Company completed the sale of the Convertible Preferred Stock for an aggregate purchase price of $200 million in 2009.
http://ih.advfn.com/p.php?pid=nmona&article=64888819
Marker:
Sandridge Energy Inc (SD)
$2.03 up 0.12 (6.28%)
Volume: 4,689,363
..that was a one hit wonder Santa Clause rally.. it makes the portfolio look good for about a minute.. ":~O
Thanx....and Merry Christmas to you and everyone on the United board VC.
Jesus is the reason for the Season! ;)
Best wishes in 2015.
Chevy
lol...Oh Lord.. imagine a 6'6" white bearded man on the large side with a soprano voice...lol.. yikes.
I do keep odd hours. If you ever notice some of my posts are sent in the middle of the night. If it's 3am on a Tuesday I'm probably up searching court documents regarding a bankruptcy or reading a bank report. My wife says that would put most humans in a coma.
it is what it is... ;)
...banks (thrifts) regulated by the OTS/OCC which were Rated lower than "3" could not even apply for TARP funds.....we tried, I recall..........
Good assumptions Salty.
Taylor has infused cash garnering a sizable stake into 4 northern California banks... and they were chosen purposely to be within a relatively tight window of each other for a reason.
Those 4 banks are;
Pan Pacific Bank (PPFC)
Sierra Vista Bank (SVBA)
Valley Community Bank (VCBC) *recently acquired
Tri-valley Bank (TRVB)
In banking size matters.
Consolidation is still in full swing...eat or be eaten.
I think any one of these banks are now much more attractive to be acquired or...??
"Tarp funds not needing it - convincing - yes and no , sit back and wonder even if they applied for $$$ would they be in this mess today.."
Here is a new bank for the board to consider putting on the radar.
Tri-Valley Bank [TRVB]
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=109202708
*It's a bank selling at a nice discount to book value in California. Joeysco you'll recognize the big investors' name in this story.
Texas Pacific Land T (TPL)
$121.50 up 3.59 (3.04%)
Volume: 23,327
*Price of WTI Crude today was $56.52.
Pioneer Natural Reso (PXD)
$147.94 up 3.14 (2.17%)
Volume: 3,418,667
*Price of oil: $54.84 as of 10Pm PST on 12/18/2014
http://investorshub.advfn.com/
Nice deal for Mr. Taylor & Co....and includes warrants!
Win / Win for the bank and it's new investors. Perfect!
The Bank has agreed to sell 6,060,606 shares and warrants to purchase an additional 2,020,202 shares to Mr. Taylor for aggregate proceeds of $2.0 million. The warrants, which will be exercisable for four years following the date of issuance, will entitle the holder to purchase shares of the Bank’s common stock at the price of $0.33 per share. The Bank separately agreed to sell an additional 1,515,152 shares of common stock without warrants for $500,000, which is $0.33 per share, to two other individuals, including a member of the bank’s Board of Directors. The Bank’s Tier 1 leverage ratio is expected to exceed 10% after the close of the private placement.
After the investment, Mr. Taylor will hold approximately 18% of the Bank’s outstanding common stock and the right to purchase an additional 5.8% upon exercise of the warrants.
The Bank’s book value was $0.31 per share at September 30, 2014.
Bill to Aid Small Bank M&A Deals Passes Congress
by Joe Adler
DEC 12, 2014 12:20pm ET
Congress passed legislation late Thursday that will expand community bank access to the debt markets in order to finance acquisitions.
http://www.americanbanker.com/news/law-regulation/bill-to-aid-small-bank-m-and-a-deals-passes-congress-1071645-1.html
*Subscriptions to AB are pricey so I can't post the entire article but you get enough in the headline and opening statement to get an idea of what's happening. As we're all well aware not everything coming out of Washington does what politicians say it will do nor intended but if this does indeed help small community bankers do deals I say bring it on!
Pioneer Natural Resources (PXD)
$ 134.80 up 2.63 (1.99%)
Volume: 3,809,887
*Price of Oil: $54.95 as of 8pm PST
http://investorshub.advfn.com/
Quarterly Report (10-q)
Date : 11/05/2014 @ 2:03PM
Source : Edgar (US Regulatory)
Stock : American River Bankshares (MM) (AMRB)
Quote : $9.41 -0.09 (-0.95%) @ 1:26PM
http://ih.advfn.com/p.php?pid=nmona&article=64302635
-Assets organically grew by almost 4%. Earnings are up for 2014.
P/B is 1.0
FD: I do not own shares of AMRB at this time.
Texas Pacific Land T (TPL)
$118.00 down -2.54 (-2.11%)
Volume: 1,842
*Price of WTI Crude at this moment is $56.86 down -0.95 (-1.64% )
Oil drops to $56.99
Ford (NYSE:F) Rebrands Infotainment System ‘Sync3'
December 14, 2014
$BBRY, $MSFT, $AAPL, $P
Ford (NYSE:F) announced the next gen of its voice control “Infotainment” car system last Thursday.
It canned the name MyFordTouch and rebranded it Sync 3.
Ford’s also abandoned Microsoft’s software in favor of BlackBerry’s QNX operating system.
Sync 3 is Ford’s 3G of the interactive, touchscreen car system that’s used for things like controlling music and mapping driving routes. Ford vows the connectivity system is faster and easier to understand. The voice recognition software will answer to more conversational commands. No longer does a driver need an exact address or location name: Say “Detroit Airport,” and Sync 3 knows what to do.
Its 2G system MyFord Touch ran into a good amount of criticism since it was introduced.
This time, the system will act more like a Smartphone, according to Ford’s news release. It is supposed to work hands-free, but the in-car touch screen interface is similar to a tablet or Smartphone in case someone does happen to take his or her hands off the wheel.
[....]
http://www.livetradingnews.com/ford-nysef-rebrands-infotainment-system-sync3-87453.htm#.VI5dqk05CUk
FD: I do not own shares of BBRY at this time.
Marker:
Blackberry Limited (BBRY)
$9.835 down -0.33 (-3.25%)
Volume: 10,648,517
HOW HEALTHY IS THIS BANK?
http://banktracker.investigativereportingworkshop.org/banks/indiana/indianapolis/first-internet-bank-of-indiana/
*YoY asset growth is impressive. Troubled asset ratio is low...with deposits and loans growing at an enormous pace.
Quarterly Report (10-q)
Date : 11/12/2014 @ 4:09PM
Source : Edgar (US Regulatory)
Stock : First Internet Bancorp (MM) (INBK)
Quote : $17.159 -0.111 (-0.64%) @ 8:10PM
[....]
Financial Condition
(dollar amounts in thousands except share and per share data)
Comparison of September 30, 2014 to December 31, 2013
• Total assets were $926,883 at September 30, 2014 compared to $802,342 at December 31, 2013, an increase of $124,541, or 16%. The increase was primarily due to a $194,776, or 39%, increase in loans receivable, partially offset by a $53,206, or 29%, decrease in securities available-for-sale.
• Loans receivable increased 39% from $501,153 at December 31, 2013 to $695,929 at September 30, 2014. Total commercial and industrial loan balances increased $16,931, or 31%, at September 30, 2014 versus December 31, 2013. Commercial real estate loans, which include owner-occupied loans, increased $93,449, or 66%, at September 30, 2014 compared to December 31, 2013. Credit tenant lease financing experienced the largest growth within the commercial real estate portfolio, increasing $81,565, or 97%, since December 31, 2013. In connection with the repositioning of the investment portfolio to provide increased liquidity, the Company deployed excess balance sheet capacity to acquire $106,480 of high quality adjustable rate mortgage assets during the period to complement its organic loan growth.
• Credit quality continues to remain strong as nonperforming loans to total loans receivable declined to 0.06% from 0.37% at December 31, 2013. Additionally, nonperforming assets to total assets declined to 0.55% from 0.90% at December 31, 2013. Compared to December 31, 2013, total nonperforming loans decreased $1,452, or 78%, due primarily to the resolution of a nonaccrual commercial real estate credit with a recorded value of $955. The Company recovered 100% of the unpaid principal balance, resulting in a recovery of $459.
• The allowance for loan losses was $5,464 as of September 30, 2014 compared to $5,426 as of December 31, 2013. The allowance as a percentage of total nonperforming loans increased to 1,366% at September 30, 2014 from 293% at December 31, 2013. Due to the improvement in credit quality, the allowance for loan losses to total loans receivable decreased to 0.79% at September 30, 2014 compared to 1.09% at December 31, 2013.
• Total deposits increased $64,875, or 10%, to $737,970 at September 30, 2014, compared to $673,095 at December 31, 2013. Certificates of deposit and money market accounts exhibited the strongest growth, increasing $41,951, or 14%, and $20,732, or 8%, respectively, from December 31, 2013.
• Tangible common equity increased $3,866 from $86,221 at December 31, 2013 to $90,087 at September 30, 2014. Tangible book value per common share increased 5% from $19.38 at December 31, 2013 to $20.29 at September 30, 2014. A reconciliation of tangible common equity and tangible book value per common share to the most directly comparable measure under U.S. GAAP appears later in this discussion under “Reconciliation of Non-GAAP Financial Measures.”
<page 38>
[....]
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=109035582
FD: I do not own shares of INBK at this time...to be honest I'm not certain as an investor how to value a branchless bank...it's a new day...however I do think these type banks are worth considering for the future.
P/B is 0.85...which is a 15% discount to book.
Marker:
First Internet Banco (INBK)
$17.159 down -0.111 (-0.64%)
Volume: 7,715
Hedging pays off.
** The biggest U.S. private mortgage insurer, Radian Group Inc, is close to a sale of its financial guaranty business to Assured Guaranty Ltd for around $800 million, according to people familiar with the matter.
http://www.reuters.com/article/2014/12/11/deals-day-idUSL3N0TV3L620141211?type=companyNews&feedType=RSS
Marker:
Radian Grp., Inc. (RDN)
$16.91 up 0.02 (0.12%)
Volume: 2,789,106
Oil closes at a five-year low below $60
AP/December 11, 2014, 5:38 PM
The price of oil fell below $60 for the first time since July 2009 on Thursday and ended trading in New York at $59.95.
Benchmark U.S. crude oil dropped 99 cents, or 1.6 percent. Oil has fallen steadily for nearly six months, and is down 44 percent since reaching a high for the year of $107.26 in late June.
"We don't see a price bottom," wrote energy analyst Jim Ritterbusch in a note to investors. He expects oil to fall further, toward $55 a barrel, in the short term.
The drop is a result of rising global oil production, especially in the U.S., at a time when demand has weakened because of slowing economies in Asia and Europe.
[....]
http://www.cbsnews.com/news/oil-slides-below-60-for-first-time-since-2009/
Marker:
Continental Resource (CLR)
$33.24 down -0.29 (-0.86%)
Volume: 4,483,733
FD- I do not own shares of CLR at this time.
I hadn't given it much thought to be honest...but like my friend and partner Enterprising Investor said "It [buyout] would be a short sellers worst nightmare"...and he's right!
Marker:
Oasis Petroleum Inc. (OAS)
$11.14 down -1.52 (-12.01%)
Volume: 12,518,940
Ohana Pacific Bank ( (OHPB)
$6.00 up 1.35 (29.03%)
Volume: 100
Supreme Court
Dec 8, 2014
BP Stuck With Spill Settlement After High Court Refuses to Hear Case
http://blogs.wsj.com/law/2014/12/08/bp-stuck-with-spill-settlement-after-high-court-refuses-to-hear-case/
* I have no idea how or if this would effect ATP's situation. I'm posting it for anyone who might be interested.
Oasis Petroleum Inc. Announces Preliminary Ranges for 2015 and Provides an Operations Update
Date : 12/10/2014 @ 7:30AM
Source : PR Newswire (US)
Stock : Oasis Petroleum Inc. (OAS)
Quote : $12.66 0.0 (0.00%) @ 7:38AM
HOUSTON, Dec. 10, 2014 /PRNewswire/ -- Oasis Petroleum Inc. (NYSE: OAS) ("Oasis" or the "Company") today announced preliminary ranges for 2015 activity based on current market conditions and provided an update on its operations in the Williston Basin.
Highlights for 2015 preliminary ranges:
•Total capital expenditures of $750 million to $850 million in 2015
•Drilling and completion capital of $650 million to $750 million in 2015
•Year over year production growth of 5 to 10% in 2015
•Moving to a six rig development program by the end of March 2015, primarily focused in Indian Hills
•Strong hedge position in 2015 with $164 million of value if crude oil pricing at NYMEX West Texas Intermediate ("WTI") is $70 per barrel and $249 million of value if WTI is $60 per barrel
•As of December 8, 2014, Oasis had approximately $1.6 billion in liquidity including its $2.0 billion borrowing base
"Oasis has a premier position in the heart of the Williston Basin with a highly economic inventory across the play," said Thomas B. Nusz, Oasis' Chairman and Chief Executive Officer. "We plan to focus our development program in Indian Hills during 2015 to capitalize on both existing infrastructure and the success that we have delivered with high intensity completions in this area. We have over eight years of remaining inventory specifically in Indian Hills and South Cottonwood, which perform in the upper end or above our type curve ranges. We also have the ability to move rigs, if needed, to areas outside of Indian Hills and South Cottonwood and still deliver wells with very attractive economics even in an environment with $60 per barrel WTI. The team has successfully optimized well costs to levels that make drilling across our operated drilling spacing units economic at low oil prices, even before accounting for expected service cost reductions. To the extent market conditions change, we maintain the ability to adjust our plan as circumstances dictate."
Mr. Nusz added, "Because we have flexibility with our rig contracts, we have scheduled our program to have ten rigs running by the end of January 2015 and six rigs running by the end of March 2015. We plan on delaying a number of completions during winter months to later in the year. In addition to prudently managing our development program, we also have a strong hedge position in 2015 with over 53% of 2015 oil volumes hedged with an average floor of $89.13."
Oasis continues to anticipate producing between 47,000 to 49,000 barrels of oil equivalent per day in the fourth quarter of 2014, which will result in aggregate year over year growth of approximately 35%. As of December 8, 2014, Oasis had $500 million drawn under its $2.0 billion borrowing base and had $82 million in cash and cash equivalents. The Company posted a presentation for December 2014 on its website at www.oasispetroleum.com.
http://ih.advfn.com/p.php?pid=nmona&article=64740288
Marker;
Aici Capital Trust ( (AICPQ)
0.17 up 0.03 (21.43%)
Volume: 19,742
Signature Group Holdings To Acquire World's Largest Independent Aluminum Recycler
* $525 Million Acquisition
* #1 Market Share in North America and Europe
Oil Stocks: The Cuts Keep Coming (and So Do the Upgrades)
Barron's
December 8, 2014, 2:30 P.M. ET
Oil is getting hammered again today–WTI crude is off 3.7% at $63.39 – and analysts continue to cut their ratings on anything having to do with black gold today. Count Oasis Petroleum (OAS), Emerald Oil (EOX), Cobalt International Energy (CIE) and Canadian Natural Resource (CNQ) getting the ratings slashed today.
SunTrust Robinson Humphrey’s Ryan Oatman and team, for instance, slashed their rating on Emerald Oil and Oasis Petroleum to Neutral from Buy to account for their large debt loads, while Citigroup’s Robert Morris and team lowered their Cobalt International Energy and Canadian Natural Resource to Neutral from Buy.
Still, Morris thinks think there’s enough pain priced into some of the stocks to warrants upgrades as well. He upgraded Antero Resources (AR), Apache (APA) and Newfield Exploration (NFX), even while acknowledging that they probably won’t bottom until oil does.
That’s not an uncommon view on the street. “Trying to figure out appropriate oilfield service valuations under a collapsing oil price environments is an exercise in futility for sure,” Raymond James analyst J. Marshall Adkins and team write. “We have detailed many times that our stocks generally bottom with oil prices, not earnings estimates.”
[....]
http://blogs.barrons.com/stockstowatchtoday/2014/12/08/oil-stocks-the-cuts-keep-coming-and-so-do-the-upgrades/?mod=yahoobarrons&ru=yahoo
Marker:
Oasis Petroleum Inc. (OAS)
$12.02 down -2.22 (-15.59% )
Volume: 9,592,961
how low can it go?
St. Joe Eyeing Residential Resorts; Right Time to Buy?
The St. Joe Company (JOE - Analyst Report) is making concerted efforts to maximize shareholder value by focusing on its residential resort communities, primary homes and the active adult residential market. The company is now reaping benefits from the commencement of its private membership club, St. Joe Club & Resorts that was done in first-quarter 2014.
Also, St. Joe is exploring potential opportunities to sell assets that are not a strategic fit to the company's core real estate development activities such as residential lots, timber land, rural land and/or related timber rights. On the other hand, the company continues to explore new commercial and industrial uses for its land portfolio. Notably, a significant amount of the company’s land is strategically positioned near the Northwest Florida Beaches International Airport and the coast of Gulf of Mexico.
[....]
http://www.zacks.com/stock/news/146926/st-joe-eyeing-residential-resorts-right-time-to-buy
Marker:
ST. Joe Co. (The) (JOE)
$18.62 up 0.1 (0.54%)
Volume: 660,797
FD: I do not own shares of JOE at this time.
Marker:
Texas Pacific Land T (TPL)
$142.73 down -2.27 (-1.57%)
Volume: 3,909
*Down from the Sept. high of $230...effects of OPEC's price war on US fracking producers.
Amended Statement of Beneficial Ownership (sc 13d/a)
Date : 11/24/2014 @ 12:04PM
Source : Edgar (US Regulatory)
Stock : Bab, Inc. (QB) (BABB)
Quote : $0.7489 0.0 (0.00%) @ 4:11PM
http://ih.advfn.com/p.php?pid=nmona&article=63548318
*I do not own shares of BABB and have no plans to at this time. The interest was in the 13-D filing...which is worth watching.
The pps is currently at the same pps (.74) that the new 28% owner/insiders paid.
Marker:
First Bancorp (FBP)
$ 5.47 up 0.22 (4.19%)
Volume: 1,711,174
BV: $6.05
TBV: $5.81
Sears Holdings Reports Third Quarter 2014 Results
Date : 12/04/2014 @ 6:00AM
Source : PR Newswire (US)
Stock : Sears Holdings Corp. (MM) (SHLD)
Quote : $32.73 -1.52 (-4.44%) @ 8:10PM
http://ih.advfn.com/p.php?pid=nmona&article=64666273
Negative Macro Backdrop Overshadowing Positive Company-Specific Fundamentals
Panic selling....oversold? Yes. I think so.
Todays price;
Oasis Petroleum Inc. (OAS)
$15.01 down -0.81 (-5.12%)
Volume: 5,970,896
*OAS hit a 52week high of $58.09 5 months ago....then OPEC decided to start a price war on US shale producers...in their words it was to "retain market share"... but I'm thinking US shale poses the most serious threat OPEC has ever seen and is as nervous as a pig at a bar-b-que. If there's any panicking going on it's in the middle-east.
OPEC isn't about to sell the world cheap oil forever...and when the price per barrel starts its' annual migration north OAS stock will double pdq.
OAS is On Sale...and the closer to Christmas the better the sale price will be.
*** I don't own it but I plan to very soon.
Delta Air Lines (DAL)
$46.57 up 1.82 (4.07%)
Volume: 12,087,040
....................CUSIP #913201109 is alive and well, imo.....