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Strategies & Market Trends : Value Investing
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To: MCsweet who wrote (38332)6/21/2010 6:37:20 PM
From: Spekulatius  Read Replies (1) of 78704
 
re OTS - yes I agree with you that the OTS restrictions are a negative. I also became aware of this this weekend when going through the 424B. While they would have made the capital hurdle by a small margin, i do think that this is the underlying reason for the secondary, because they rather raise capital then forgo the dividend.
I is also noteworthy that the OTS did not find more severe issues, like loans that need to be restated as nonperforming or such. I have seen that too with some banks local to me that I follow with some interest, the OTS has apparently gone tougher in their audits and some banks I follow had so show substantial restatements of their loan portfolio.

After the secondary, HFBC should be in decent shape, which is why I waited until after the secondary is announced to get in.
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