Oxford Bank Corp. (OXBC): OXBC $8.59 2014 annual report http...

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norweger1979

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norweger1979

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Thursday, 05/07/2015 6:47:55 PM

Thursday, May 07, 2015 6:47:55 PM

OXBC $8.59

2014 annual report

http://www.oxfordbank.com/2014annualreport/2014_AnnualReport.pdf

O/S
2013 1,156,690
2014 1,363,940

book value
2013 $13.22
2014 $17.72

Net Income BEFORE taxes
2013 $563,000
2014 $911,000

Net Income
2013 $1,418,000
2014 $7,251,000

Net Income 1st Qtr of 2015 $647,000

Obviously 2014 results include the $6,340,000 tax refund but even Net Income Before taxes shows a nice improvement from 2013. Another $5,000,000 in additional new capital expected from a lead investor brings confidence.

EPS 3/31/2015 of $0.47 annualized would be EPS $1.88 or about forward PE of 4.5.

OXBC has been agressive in write downs of NPA's and reducing OREO at a brisk clip. The next couple quarters should show management's ability of growth excecution vs. NPA reduction. Still a rough diamond here that should start to shine soon, IMO

good luck!