Anthony @ Equity Investigations, Dear Anthony, Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Nazbuster who wrote (29831)	4/13/1999 8:24:00 PM
From: RobbRacer	Read Replies (4) of 122087

Daniel and All, FLBK- A CLEAR SHORT. Here's the low down. I think people got very confused with what the press release is about and what it intended to say. This bank is not trying to be a Netbank. They have 3 branches ironically one of them in Gainesville where I live and know an officer. They are offering online banking to be competitive with its local rival competitors(Nations, First Union) for existing and regional customers. They are not doing online banking so they can get deposits from all over the United States and compete with NTBK. To give you an idea how small this bank is ( I didn't even know it was public until today and was shocked)its interest income for the year was 3.7 million. Thats like gross sales guys(and lost 4MM)!! Thier Gainesville branch dosn't even have any customers hardly(its right down the street from my house)I know. Thier plan for expansion is not getting customers from the internet but open a few more branches in FLorida when they can afford too. This was a case of Daytraders and momentum players jumping in a stock without really looking at the company. Its not a scam just a small town type of bank with a handful of employees that trades on average 17,000 shares a day. I know investment managers with more assets under management. FLBK-was so shocked about what happened they just released a PR saying they would use this new found currency to make aqusitions if the price held although suggesting it probably wouldn't. I intend to short any GAP and keep hold it until its in the teens.!! Even daytraders are not stupid enough to keep this up!!! Rob

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next