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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank -- Ignore unavailable to you. Want to Upgrade?

To: Bruce A. Thompson who wrote (2000)	6/22/1999 1:56:00 PM
From: Kevin A. Lynch	Respond to of 2414

Bruce, You can't make it work out cause it doesn't work out. The approximate number of accounts currently is 37,000. This need to be viewed on a per account basis. The current market cap is 979 million and the growth rate in accounts is currently well above 150%.... They are likely to have 40/41 thousand accounts by the close of the quarter.... Kman

To: Bruce A. Thompson who wrote (2000)	6/22/1999 1:58:00 PM
From: Mike Milde	Read Replies (3) \| Respond to of 2414

They currently have about 35,000 accounts, which is about 17,500 customers if you assume each customer has a checking and a savings account. Market cap is slightly over $1 billion today. That's about $58,000/customer. It's not has high as it used to be. If someone were to buy NetBank at the same premium that E*Trade paid for Telebanc, then you are back to about $100,000/customer. Given that, I'd say that the customer base has little value. Some good marketing can get you customers at just $56 each. Mike