First State Bancorp (fka FSNMQ)

[mkt_predictor]

Of course they could, and I am not necessarily expecting stellar earnings or anything. I am looking for a sign that they have turned the corner, and I believe we will receive numbers that will indicate just that. Assuming that is the case, there is no reason for this stock to be trading as low as it currently is, and I would imagine that this would see a nice sustained move to higher levels once the investment community realizes this bank has turned the corner and will survive the economic crisis.

Per their last Q earnings PR on 11/2...here is an excerpt that I found encouraging.

“In the past six months, our external loan review and examiners reviewed over 65% of the dollar amount of our loan portfolio. That, combined with appraisals that we have obtained on the collateral supporting most of our higher risk loans resulted in the level of charge-offs and provision that we recorded this quarter,” stated Michael R. Stanford, President and Chief Executive Officer. “We don’t think this level of provisioning will be necessary in the future and believe that the worst may now be behind us,” continued Stanford.