The first email is from me and the second is Mr. Flatt's response.
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Thank you ever so much for taking the time to call me today Luke.
I wrote down the outstanding share count numbers you gave me on the 2 issues of preferred stock ( A & B) at the bank level but missed the number of shares on that one issue of Preferred at the BHC level.
Best guess numbers will work Luke if you don’t have them right in front of you ;)
Here’s what I have in my notes:
Common shares outstanding are: 3.140M
Issue A Preferred at the bank has 393,631 outstanding and will convert 1 for 1 to common on 12/31/2014.
Issue B Preferred at the bank has 563,062 outstanding and will convert 1 for 4 to common on 12/31./2014.
Issue “X” at the BHC level has____________ share outstanding?
Will those convert at some point?... and if so at what rate?
I can’t thank you and your team enough Sir…you’ve been a great help!
Most Sincerely…and have a great Valentine’s Day!
MK
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Mike, there are no more shares or classes of preferred or common. I was referring to a $4million debt instrument at the holding company level that’s known in the industry as a “trust-preferred” security. It has a maturity in 2035. It is not equity capital and has no voting characteristics. It’s strictly debt.
All else looks to be substantially correct.
Have a good weekend.
Luke
"Politicians never accuse you of ‘greed’ for wanting other people’s money—only for wanting to keep your own money." ~ Joseph Sobran
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