Replies to post #56 on Allied First Bancorp, Inc. (fka AFBA)

[jbaxter]

'genlou' the AFBA annual report has a paragraph about there being the possibility of a capital raise of about $6MM through an investment bank, provided that the holding company receive a discount on TARP, plus some regulatory approvals, (see page 14 of the AFBA annual report). That could be very meaningful to the bank's future, and hopefully rewarding to all shareholders. IEBS was trading around 35 cents when they came up with a capital raise at 80 cents per share. The stock moved to over 2.20 per share soon thereafter. Trades now around 18 cents, I think because the bank got off track with electronic payment business venture. But the company also offered all shareholders rights to buy more stock at the same price that the investors did at 80 cents, so it was a sweet deal at the time.

CYHC is the 15,000/share bank. Only own 1 share, but it pays a fat dividend of $250 per quarter, so a nice yield.

Also own PTBS, PNBI, FKYS, UBPC for dividends. Though I sold to early, I also owned another stock (have to look at the symbol) that was trading for 40 cents and rocketed to about $10 (could be even higher now).

I rarely sell stocks that I buy. I think there are plenty of opportunities in these beat down stock and sooner or later, the not-so-geniuses on Wall Street will catch on to the risk/reward here.