California International Bank (CAIB)

[Lazarus]

This is old news but since it was released the bank has:

received the capital infusion
paid off its TARP obligation
restructured its board.

OS shares are now 170,431,060

Book Value is a little over .09 per share.


Bank is still bleeding. I think last call report showed ytd losses of ~ 1.3 million.

They have 2 branches now, have scaled back employees, and are working on bringing the bank up to date with technology.

Can't say its time to buy yet but it certainly looks like they may make a turn around. This year's losses will look ugly... and I suspect act least the first 2 quarters of next year will also be losses.

currently at .06 x .08

I suspect if losses continue for the next 4 quarters that BV is likely to drop further.

Watching and waiting.