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Technology Stocks : SFNB, Security First Net. Bank
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To: Kevin A. Lynch who wrote (225)8/21/1997 9:46:00 PM
From: Dan Thomas   of 507
 
Kevin and other SFNB holders:

I work for one of those "alliance" banks that sunk some bucks
into SFNB. When I found out my bank was buying their software, I
bought (a little high at the time) in at 9. When it retrenched to
7 5/8 area, bought additional. Bought even more today at 13 5/8.

Bottom line: INTERNET banking is considered a "hot" new coming area
and no large bank will dare take the chance it's not. It will be
easier for top management to declare the whole mess un-profitable
and scrap Internet banking in the future RATHER THAN not get involved
and then after their competition is in it bigtime, realize Internet
banking WAS the place to be, thereby facing embarrassment of n-th
degree and being fired.

If my bank drops a big wad (along with the others) then I know at
least for now (1-2 years) all out effort and careers are being
put on the line ... SFNB WILL BE A SUCCESS !!!

I believe we will see $ 20 or higher very soon, and yes, a climb
back to the IPO price when more banks start jumping on the bandwagon.
NO ONE THESE DAYS WANTS TO BE LEFT OUT AND THEN ACCUSED OF
INCOMPETENCE AT NOT ACTING SOONER. Firings will occur.

Am I living in wonderland here - perhaps, but I hear some pretty
ambitious talks going on, and electronic delivery is the hot item
at a large Florida-based bank (don't want to mention any names).

Regards,
Dan
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