it's at less than 1/10 book value as stated in the recent 10Q.
The company even mentioned the bv in the pr.
The threat is once again the FDIC. If they keep losing money on bad loans they will fall into the same danger of being seized and auctioned. Although that hasn't happened with CORS yet, the deadline is next week and it's happenned recently with Colonial and Guaranty.
Here, the CEO has also opted to forego some of his compensation, trying to lessen strain.
I actually tried to buy it, TD Ameritrade wouldn't let me without calling in. Can you believe that ?
I may come Monday in another account.
It's in the fillings.. but in these situations it's hard to tell exactly because we don't know the situations of the problem loans and when/if they will start making payments again to the bank.
APAB is struggling, and priced for 1/10 current value because of the prevailing atmosphere for community banks receiving no government help, while the government aids the enormous, politically connected multinationals who scoop these up for virtually nothing, expanding their empires on the taxpayer's bill.
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