Bankruptcy Q Players

[Enterprising Investor]

CIBH had $73.4 million in equity at 9/30/10.

Common equity was $22.4 million after subtracting the $51 million of par value in the two series of preferred stock. The market value of the common equity is only $2.5 million at $.135 per share today.

There is some risk tied to the fourth quarter results. Bankers traditionally do their "spring" cleaning in December. There could be additional loan write-downs.

I bought CIBH last week.

CIBH is rising on what I would consider low volume, especially for a stock with such a low share price.

I have done a couple of drive-by's on CORSQ. I view it similar to WAMUQ. I would rather invest in a bank out of bankruptcy than one still in trying to get money from the FDIC. However, I will take another look at CORSQ.