Loss to Profit, let's make your lost money back !

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Look at this article:1)MCBC& 2)IBCP: how laughable sometimes i.e. target $1 pps for MCBC; and IBCP interest rates worst drop but still generous rate offer compared to all lol.

Anyway the 5 banks they talked about have jumped in the +30%-70% since 28-dec-2010. lol

http://www.thestreet.com/story/10955919/6/2010-bank-stock-awards--losers.html
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Company Profile

Among publicly traded banks and thrifts with average daily trading volume of at least 50,000 shares, the company with the highest downside based on analysts' consensus price targets is Macatawa Bank Corp.(MCBC_) of Holland, Mich.

The shares closed at $3.59 Wednesday, up 67% over the previous year.

Based on Wednesday's closing price and the consensus price target of $1 among the two analysts polled by Thomson Reuters, the shares have 72% downside. After the company released its third-quarter results, Keefe, Bruyette and Woods analyst Eileen Rooney reiterated her "market perform" or hold rating and $1 price target for the shares, citing Macatawa Bank Corp.'s "elevated level of NPAs" and "modest capital position."

The company is operating under a July agreement with the Federal Reserve, requiring Macatawa to submit a capital plan within 60 days. Main subsidiary Macatawa Bank is operating under a February 22 consent order from the FDIC and state regulators, requiring it to achieve a Tier 1 leverage ratio of 8% and a total risk-based capital ratio of 11% within 90 days. These ratios for the bank were 6.55% and 9.23% as of September 30.

Income Statement

Macatawa Bank Corp. reported a net loss to common shareholders of $18.7 million, or $1.06 a share, for the first three quarters of 2010, improving from a net loss of $57.3 million, or $3.30 a share, a year earlier. The provision for loan losses declined to $22.1 million during the first three quarters from $52.7 million the previous year. The year-to-date net interest margin was 3.24% as of September 30, improving from 2.75% the previous year.

Balance Sheet

Total assets were $1.6 billion and the tangible common equity ratio was a low 2.08% as of September 30, according to SNL Financial. The nonperforming assets ratio was 8.58%. The net charge-off ratio for the first three quarters was 2.33% and reserves covered 4.06% of total loans as of September 30.

Stock Ratios

The shares trade for 1.9 times tangible book value according to SNL Financial.

Analyst Ratings

One of the analysts covering Macatawa Bank Corp. rates the shares a buy, the other recommends investors hold the shares.
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Company Profile

Among publicly traded banks and thrifts with average daily trading volume of at least 50,000 shares, the bank with the worst contraction of its net interest margin was Independent Bank Corporation(IBCP_) of Ionia, Mich., with a tax-adjusted net margin of 4.36% for the first three quarters of 2010, declining from 5.16% a year earlier.

That being said, 4.36% is actually a good interest spread when compared to the national aggregate net interest margin of 3.78% for all U.S. banks and thrifts for the first three quarters, as reported by the FDIC.

Independent Bank's shares closed at $1.53 Wednesday, down 79% over the previous year, as continued loan losses have taken their toll.

Income Statement

The company reported a net loss to common shareholders of $15.9 million during the first three quarters of 2010, or $3.71 a share, improving from a net loss of $45.3 million, or $19.02 a share, a year earlier. The shares underwent a reverse 10 to 1 split in August.

The provision for loan losses totaled $39.3 million during the first three quarters, down from $78.2 million a year earlier.

Balance Sheet

Total assets were $2.7 billion as of September 30 and the nonperforming assets ratio was 4.19%. The net charge-off ratio for the first three quarters of 2010 was 3.07% and reserves covered 3.64% of total loans as of September 30.

The company owes $72 million in TARP money and has deferred its last three dividend payments on preferred shares held by the government.

The Tier 1 leverage ratio was 6.28% and the total risk-based capital ratio was 10.70% as of September 30. According to SNL Financial, the tangible common equity ratio was a very low 1.62%.

Stock Ratios

The shares trade for 0.3 times tangible book value according to SNL.

Analyst Ratings

The only analyst still covering Independent Bank Corporation has a hold rating on the shares