That would be (IMO) the last item needed to do, but I think they will need to raise their Tier 1 capitalization ratios before they can or should do that. At the shareholders meeting, when I asked about complaince with the consent order the CEO answered that every left to be done to be in full compliance all goes back to the capitalization ratios. Everything else is in compliance. A $3 million settlement from the Renegade Holdings BK hearings would help raise those levels. The rest will come from retained earnings. Once the ratios are met, then additional retained earnings could be used to buy back TARP. Also, if they sell the lease that they will hold from the Renegade reorganization, that would also be another big infusion. It's also about $3 mill in value if ai recall.
As I understand it, the next hearing is scheduled for July 22.
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