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Non-Tech : Old National Bank, Evansville, Ind.(OLDB)
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To: go4it who wrote (32)8/6/1999 1:25:00 AM
From: Bruce McGaughey  Read Replies (1) of 47
 
What do you think (if any) affect the Y2K scare will have on financial institutions' share prices such as OLDB?

Good question.
I personally feel we'll be alright here in America as far as
Y2K goes. Not too many interruptions in service, etc.
There are some valid concerns about the rest of the world, though.
S.E. Asia, Eastern Europe, Central and So. America, Africa, etc.
The White House's own Y2K czar was on the Internet the other night
warning us about those problems.
The problem in America will not so much be the reality of the
problem as it will be the perception of the problem.
Will there be runs on banks ??? Maybe.
The Treasury has printed up a whole bunch of those funny looking
things they call currency in anticipation of a Y2K crunch.
The banks have had to conduct Y2K readiness tests and have had
to have passed them already in preparation of 1-1-2000.
OLDB has passed with flying colors. As have most banks.
It's up to the people to trust their financial institutions.
Will they ???
That's a BIG question.
My personal guess is that the end of the year will give us a
tremendous buying opportunity in stocks.
OLDB might sell down with the rest of them. It might not.
I'm happy to hold and to wait it out. I'm in the DRIP program
and I'm committed to OLDB for as long as they continue to expand
and increase shareholder value.
At some point, I expect they'll get acquired by some bigger bank.
I can wait for that day.

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