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Strategies & Market Trends : Value Investing
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To: MCsweet who wrote (59316)4/26/2017 7:58:30 PM
From: Lazarus  Read Replies (1) of 78748
 
MBNC shares have been going off at a premium over the tender offer.

I tendered some and kept some. I would have kept them all except for the previously mentioned matters.

I'll let them set up their office and check into them at some future date and see how they are doing.

In general I'm seeing that these small banks and their managers do present substantial risks (and rewards of course). This is the second bank though that I have owned where they did a deal that cashed out the shareholders at a price BELOW what the stock was trading at.

If you recall, when this deal was announced the stock was trading at .95 cents and it immediately tanked. For the management to accept a lower stock price one assumes that there is obviously some other benefits in the deal for them -- because if it were just a matter of the stock price one would always choose the higher stock price. (methinks).

Once the shares are tendered I suspect they are going to take it up some, maybe back into that .90 cent to a buck range.
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