The presentation....
Was short due to not having enough time.
But it was basic and to the point.
They showed how they did compared to the peer group on stock price changes, total return performance,the price/earning-price/book,stock liquidity,the 30 market makers,how it's a high growth company,total assets,the mergers & acquisitions,how they are a high performance bank, solid safety & soundness profile, high franchise value, their Florida franchise locations, how they wanted to increase their growth in Dade County because it has a $37 billion banking market(first in FL)and has the largest population center and business market in Florida.
They also talked about year 2000:
*Year 2000 readiness plan implemented.
*Currently operating on "Y2K compliant" banking platform(M&I).
*Anticipated test completion date June 30, 1999.
*Working with commercial loan customers to determine their Y2K readiness.
*Developing contingency plans for mission critical processes.
*Costs of project will be funded through operating cash flows.
Their is a lot more but to come down to it....RSFC is a solid bank and has plans to become much bigger with more key people to help it grow in the right direction.
In my book, it's a very strong buy at the price it is now and I don't think it will be at this low too long.
I think that the presentation will be bringing in a lot of new investors quickly at this price.
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