AltaPacific Bancorp fka ABNK

[vpagano]

It is a head scratcher the more I think about it definitely. At first glance, one might think their goal was add some liquidity to the stock, but of course we know that's dumb. They themselves said about the buyback anyway:

Charles O. Hall, President and Chief Executive Officer, commented, “The primary role of the repurchase program is to provide a tool to assist with the management of the Company's capital position, while also providing liquidity for shareholders.” Continuing, Mr. Hall stated, “This announcement also demonstrates the Board's confidence in the Company's strategy, growth opportunities and financial strength.”

If that discount to book we talked about is valid there is no reason to not buy back all the shares they can.

Hmm maybe they A) believe the illusion of stock dividends create value or B) know they don't, yet hope the market doesn't realize that.

Of course we know better, just wondering what earnings potential we are looking at hmmmm.