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h_man_investor

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h_man_investor

Re: Enterprising Investor post# 309

Saturday, 12/24/2011 7:32:20 AM

Saturday, December 24, 2011 7:32:20 AM

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EI! Nice to hear from you.

Woodlands is currently being liquidated. In August they transferred/sold ~$550mm in brokered CDs to Metlife. Their balance sheet has been shrinking significantly over the past year.

As for Aurora, what would someone be buying? ALS is currently being shopped by DB and there have been a few transactions in this space (namely Goldman selling Litton). Besides that, there are no bank branches and depositors are brokered CD depositors.

A purchaser would be basically buying a federal bank charter and ~$900mm in whole loans.
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