Replies to post #3 on CalWest Bancorp (fka CALW)

[56Chevy]

CalWest Bancorp Announces Financial Results as of December 31, 2013

Full Year net income of $229,167
Non-performing loans decrease year-over-year by 74.9%
Texas Ratio decreased to 26.7% from 65.5% from a year ago

[....]

http://finance.yahoo.com/news/calwest-bancorp-announces-financial-results-180500951.html

Equity is: $3,223,000
O/S is: 2,521,488

I see where they entered into Consent Agreements but I don't see if they ever exited those agreements. My guess is no...they haven't. It needs to be verified by calling the bank.

NOTE 14 – REGULATORY MATTERS

Consent Order: On January 24, 2011 the Bank consented to the issuance of a Consent Order ("the Order") by the Office of the Comptroller of the Currency ("OCC"). The Order places significant requirements on the Bank, as summarized below.

http://www.southcountybank.com/wpcontent/uploads/2014/02/ar2012.pdf

CALW entered into an agreement with the Federal Reserve in April of 2011

http://www.federalreserve.gov/newsevents/press/enforcement/enf20110503a1.pdf

http://www.federalreserve.gov/newsevents/press/enforcement/2011enforcement.htm

NOTE 16 – SENIOR PREFERRED STOCK (*TARP)

On January 23, 2009, the Company entered into a Purchase Agreement with the United States Department of the Treasury (the "Treasury"), pursuant to which the Company issued and sold 4,656 shares of the Company's Preferred Stock as Fixed Rate Cumulative Perpetual Preferred Stock, Series A (the "Series A Preferred Stock") and 233 shares of Fixed Rate Cumulative Perpetual Warrant Preferred Stock, Series B (the "Series B Preferred Stock") for an aggregate purchase price of $4,656,000 in cash. The redemption of both Series A and Series B Preferred Stock is $4,889,000. The discount of $233,000 plus estimated issuance costs of $25,000 is accreted against retained earnings over the estimated five-year life of the Preferred Stock reducing the reported income available for common shareholders.

*It's unknown where they currently stand on TARP but the 5 years is up which means the interest rate on their TARP debt would go to 9%. Significant improvements in the banks overall health were made in 2013...with any luck that trend continues.