Replies to post #25 on Sun Bancorp (SNBC)

[56Chevy]

wow romang really tough to say. The primary and inital attraction for me re: SNBC was Wilbur Ross' [WR] involvment. I fully expected them to roll up other small banks but for whatever reason that hasn't happened...and that surprised me some..and not in a good way.

I've been focused more on West coast banking the past couple of years and had it not been for WR I probably wouldn't have followed this bank much at all. (I don't own it btw but to keep a pulse on the entire sector you have to use a wide lens). Who is doing what & where. *Best banking tip/lesson I ever recieved from my friend EI.

After reading Enterprising Investors' post reporting the 1st Qtr financials I'd say if this were a boat it would be looking for a safe harbor to hide in.

Since you live out there you probably have a better sense of how the business mood is. The super-low interest rate policy by the Fed really thwarts a banks ability to make money..Europe's woes...the Euro .. Greece.. the US economy tends to take a couple steps forward only to retreat...election year uncertainty...housing values iffy...not nearly enough job creation...etc etc.

In this enviroment you have to be very careful which banks you choose. The parameters are narrow and only a few possess them. Amazingly we've had an excellent year with carefully selected banks such as PCBC & FCAL (also now PMBC). It's not like the West coast is thriving...far from it!..but a chosen few have done very well. In all honesty it had everything to do with "who" not "where" the bank was. lol. But I don't see the same "must contain" characteristics with banks on the East Coast..maybe you see otherwise??

How's that for a rambling un-official answer lol. Sorry bud.

If I was Warren Buffett I might be a buyer of SNBC at these prices but I'm not so I won't. I don't see anything about SNBC that will turn this around until after the election. I think the country needs a new leader..and a business friendly one would be a welcome site! :| More Jobs and higher interest rates...all banks will fly then!