Replies to post #15 on First Security Group, Inc. (FSGI)

[Enterprising Investor]

Price Bio:

http://www.ou.edu/price/left/about_price/michael_price.html

[56Chevy]

*PPS as of 5/1/2013 $3.68. Needs to go lower.

Hard to ignore a near double in less than 2 weeks....pps as of 5/13/2013 $6.24

First Security Grp., Inc. (FSGI)
$ 6.24 up 0.351 (5.96%)
Volume: 90,485

*Investors are paying over 4 X what MFP Partners, L.P. paid for shares. If we use PCBC as an example this strategy in the short run works for risky trading but for long term investing it's a bad move.

[56Chevy]

re: TARP

First Security Group, Inc.

Chattanooga, TN
Total TARP funds owed: $33,000,000
$33,000,000 on Jan. 9, 2009

http://banktracker.investigativereportingworkshop.org/tarp/tennessee/chattanooga/first-security-group-inc/


Line item --------- March 31, 2012------- March 31, 2013

Assets-------------- $1,129,982,000 ------ $1,041,526,000

Deposits------------ $1,041,526,000 -------- $991,727,000

Loans----------------- $584,925,000 -------- $530,496,000

Loan loss provision----- $1,801,000 ------------ $678,000

Profit------------------ $-5,510,000 ---------- $-7,199,000

Capital----------------- $57,710,000 ---------- $19,932,000

Reserves--------------- $18,990,000 ---------- $13,500,000

Other real estate owned -- $24,716,000 --- $12,706,000

Capital plus reserves ----- $76,700,000 ----- $33,432,000

Total troubled assets ------ $71,553,000 ---- $24,169,000

http://banktracker.investigativereportingworkshop.org/banks/tennessee/chattanooga/fsgbank-national-association/

*The bank is still losing money as of the 1st qtr however they've really knocked down their OREO & NPA's.