Replies to post #2 on SmartFinancial Inc. (SMBK)

[vpagano]

Thanks for starting a board EI.

I guess we should mention the convertible preferred issue as well, CSBQP.

Dividend is $2.50 a year and converts into 5 shares of common.
Not a bad way to play this bank's recovery in a way. At these prices you get paid 10% a year to wait until the bank hits 1.25X BV. Highly illiquid however.

Link to prospectus:

http://www.sec.gov/Archives/edgar/data/1038773/000114420412036618/v317035_424b3.htm

-Pagz

[Enterprising Investor]

Book value per share $3.88

Down slightly from $3.98.