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Non-Tech : USAB - USABancShares.com
USAB 75.000.0%Dec 29 4:00 PM EST
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To: Dan Hughes who wrote (2133)10/8/1999 2:22:00 AM
From: dharampal luthra  Read Replies (3) of 2419
 
Dan, If somebody is thinking of switching accounts, and they are earning ZERO percent interest why would they go to get 3.75% when 5% is possible? True that if you are already earning 3.75%, you may not act to get 5% but some will and these folks are likely to be ones with larger checking accounts.
Young people also are likely to bank with an interesting bank and USAB provides that too and is likely to get better. I find a lot of interest from people when I mention USAB at lunches etc. While people act lazily when it comes to switching, we do know that internet is a powerful medium and a lot of people think that maybe their bank sucks.
The launch of the new site, which should happen soon, should also bring new accounts.
People starting out into the world after their college stint are likely to choose a more interesting bank. And they will see that USAB provides this when they walk into a room on a college campus and see someone engaged in musical banking.
In any case, the bank should do much better than it would have being a little sleepy Philly bank with three branches.
And acquisition cannot be ruled out and in fact the recent pullback in price smacks of some interest trying to get the price lower before making a bid for it.
Adding at these levels but everyone should do their own DD before buying. The risk / reward ratio has improved tremendously, IMO.
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