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Strategies & Market Trends : Value Investing

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To: Spekulatius who wrote (46709)	8/25/2012 2:21:20 PM
From: Spekulatius	Read Replies (1) of 78774

FMBL - averaging up at 4345$ . This bank has produced fairly good results - 127$/share in earnings for the last quarter. 27% risk based Tier I ratio. 700M$ in tangible equity and 2B$ in loans, the rest of the balance sheet are very safe bonds. Market cap is 560M$. NIM is 3.7%. If they ever get the loan portfolio growing again, the earnings should go north of 600$/share easily. They are semi-private but do publish results and there are of course FDIC records (as for any other bank). The stock is illiquid bot otherwise but from a business and valuation perspective it's as cheap and straightforward of a bank as you can get. fmb.com

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