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Strategies & Market Trends : Value Investing
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To: blankmind who wrote (20378)12/30/2004 4:26:18 PM
From: Carl Worth  Read Replies (1) of 78480
 
with all due respect to your experience/knowledge as a CPA and bank auditor, i think you are misunderstanding the structure of CSBK

the MHC is not part of the bank, it is a shareholder...as such, if its shares were sold to the public, the proceeds would not go to the bank, they would go to the MHC

those shares do "count," even though the MHC may not receive dividends

i own OSHC and ACFC, which have similar structures, and the MHC shares are counted in the outstanding shares, and in calculations of things such as EPS and book value per share

here is the prospectus for OSHC, which lays out the structure following the offering:

ipo.nasdaq.com

i'm sure CSBK has approximately the same structure
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