I think it’s great to make the changes. This will allow them to make purchases of the preferred shares when the money/opportunity arises. Every share they buy back will increase the value of the common stock. The reverse split mathematically will have no effect. From an institutional investment standpoint, it will allow capital infusion from the investment banking side to occur. As long as they DO NOT dilute the existing common shareholders just to buy out the 73 percent of the preferred shares. All of us here know that the bank has never paid a dividend on the common. The real end game that the commons have is that maybe someday we WILL be able to, OR get a big payday when/if they MERGE/ACQUIRE/SELL. I do NOT want a sale. I do however want to make money in the long run. I am for whatever happens to line my pockets in the long term (5 years from now). Most of the long term people I know would probably be ok with that. It would be hard to see a merger for sure, but as the traffic decreases in facilities around the country, mergers and acquisitions occur a lot. The big boys are hated by the community, and lose tons of customers to the locals. So I am against teaming up at this point. MCB, Busey, Longview Capital, UCB have been in the acquisition mode over the last 10 years. I would say that we would fit best in the MCB, UCB model the best. MCB seems to have a way of growth without hardly and disruption to the community banking format. UCB is also great with that. Busey is the worst.......
