Replies to post #5461 on CIB Marine Bancshares Inc. (CIBH)

[XM ROCKS]

It will allow the preferred whiners to get out of their position......maybe we can buy back more than anticipated with less money. Who knows....way over my pay grade! We shall soon see how this plays out. Personally my thoughts are that the few people that are trading this stock are NOT going to be fooled into selling at this point.

[XM ROCKS]

I took some time to digest the proxy. Here are my thoughts....not that anyone cares! It appears that management wants to have enough shares available to allow them the flexibility that these transactions will require. Just because the shares are available to issue, does not mean that they will be issued. Nobody at this point knows what the preferred shares will be tendered at.....this is an unusual situation. Right around 70 percent of the preferred shares were represented at the special vote. It will be interesting to see what the price they are willing to take to unwind their positions. Everyone will be different. The 20 million shares per year will allow for ALL the shares to be bought back....both Class A and Class B. This would be great, but I don’t see how that would be possible. Anyway, it is all a BIG positive. I trust management will have the best interest for all shareholders. If there is some dilution, so be it. I don’t think that is the goal at this point.....