It's a solid little bank and well capitalized. No troubled assets..No loans loans 90 days past due.. no non-accruing loans and no OREO (other real estate owned). All good signs!
They're making money..fed rates are rising which is good for a banks bottom line.. and they're experiencing some organic growth.. Whats' not to love right!
It's kind of amazing to me that this little bank wasn't acquired by a larger fish by now. Small banks struggle with reg compliance costs.. its harder to spread that out when youre only dealing with $68M in total assets.
As opposed to the hay-days of 2011/12 its almost impossible now to find any banks selling at a discount. However you should have a little headroom to make a nice profit if the bank gets acquired. The average buy-out price for smaller banks lately has been 1 ~ 1.5x book.
Good luck and God bless in 2018 Lazarus!
Chevy
The most fundamental fact about the ideas of the political left is that they do not work. Therefore we should not be surprised to find the left concentrated in institutions where ideas do not have to work in order to survive. ~ Thomas Sowell
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