Central Virginia Bankshares (fka CVBK)

[genlou]

CVBK has been my bank for many years.I hope it remains CVBK.I like banking there because it is a small bank.I am concerned about the amount of Tarp owed due to the side of the bank.I fear a larger bank may purchase CVBK, but I hope that will not be the case.I believe if a share offering had been done when the share price was higher, to help pay the Tarp, the financial condition of the bank would be better today.

"The U.S. Treasury provided about $11.4 million in TARP capital to the bank after the financial crisis. "While that helped CVB weather the storm, paying off TARP has become problematic for Central Virginia Bank and many other community banks in the U.S.," Marth said.

As of March 31, the bank's unpaid TARP dividends totaled $1.9 million, which, if declared, would have reduced the bank's tangible book value per common share from 84 cents to 12 cents in the first quarter."