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Non-Tech : USAB - USABancShares.com -- Ignore unavailable to you. Want to Upgrade?

To: VALUESPEC who wrote (1541)	7/14/1999 12:35:00 PM
From: Kevin McKenzie	Respond to of 2419

VALUESPEC, I agree, USAB is a tough read. Here are some of my concerns: (1) They started their advertising initiative before they have any online banking services, which seems like a waste of money. (2) They have indicated that they will spend $1million over the next two months on their advertising campaign. Their trailing twelve month net income is about $1.5million. Therefore, their spending an entire year's earnings on two months of advertising. This expense doesn't include the cost of getting the internet site up. (3) I'm curious about their web security, simply because the web pages that actually do something (CD Auction and CD Now) appear to have rudimentary security procedures (I'm only basing this on how the login screen looks, not on any knowledge of how the security is implemented). (4) I don't quite understand how they will increase their brand awareness without spending a lot more money; and I don't think they have the money to spend without raising more capital (although they have stated that they are well capitalized, so I may be wrong). (5) Other banks do have very good web sites that incorporate banking and trading. For example, BankOne's site allows you to perform all necessary online banking and trade from the same account for a commission of $19.95. Maybe banks aren't doing a good job of communicating their services, but I think many banks already offer what USAB only promises. On the other hand, I had these same concerns when the stock was half it's price (just two weeks ago). On the positive side: (1) With very little advertising USAB has successfully implemented the CD Auction (still the only one of its kind, as far as I know). I think this auction demonstrates managements' creativity (no other bank thought of it, or at least, no other bank implemented it). (2) I disagree that the website is terrible. I think the CD Auction site is very good. It's easy to use and has most of the information you need to make a bid decision. (3) It appears that USAB is being accepted as a "pure" internet banking play, in which case, the standards of performance are lowered. They don't have to have huge numbers (or even positive earnings) for their stock to move up.

To: VALUESPEC who wrote (1541)	7/14/1999 1:18:00 PM
From: im a survivor	Respond to of 2419

Valuespec, You keep harping on the website....do you not realize that what you are looking at will not be the real thing. We are in the beginning stages.....My gosh, they aren't even fully operational yet. Give it time....the website will be top notch and you can take that to the bank !!!!

To: VALUESPEC who wrote (1541)	7/14/1999 3:46:00 PM
From: DAY TRADER	Respond to of 2419

They could throw up a very good site this week, for all I know. Simply a matter of uploading some files they might have been working on. Don't know if it will be totally revamped though. I like the shockwave effects but might be too much for some potential investors, they have great savings rates though. I may open an account with my profit DT

To: VALUESPEC who wrote (1541)	7/14/1999 4:38:00 PM
From: Guidothecat	Read Replies (1) \| Respond to of 2419

USAB on BCST.com & vcall tomorrow... ******************************************** Hey, remeber our "personal stock holders rep" has gone to Philly (again, for stock holders meeting) and as well this post recently: To: James Mitchell (1384 ) From: Tom Borst Tuesday, Jul 6 1999 10:43AM ET Reply # of 1544 I hold 1% stake in USAB . . . that's 40,000 . . . and I flew out to meet with Tepper on Friday! I'll admit I've been a little concerned with some of the marketing ideas they've chosen over the past few weeks. I'd love to give you all the details, but out of common courtesy to Tepper I'd prefer not to post our conversation here. There's a lot more to this company than short term hype . . . I'm holding for the long term and smart money will do the same! (from Tom Borst) Guido

To: VALUESPEC who wrote (1541)	7/14/1999 4:50:00 PM
From: Guidothecat	Respond to of 2419

Value yes,,,lets look at USAB & NTBK once again: USAB: Recent Price $ 13.94 52 Week High $ 15.25 52 Week Low $ 3.38 Avg Daily Vol (Mil) 0.32 Beta 1.31 Share Related Items Mkt. Cap. (Mil) $ 55.96 Shares Out (Mil) 4.02 Float (Mil) 2.60 Dividend Information Yield % 0.00 Annual Dividend 0.00 Payout Ratio (TTM) % 0.00 Financial Strength Quick Ratio (MRQ) Current Ratio (MRQ) NM LT Debt/Equity (MRQ) 0.00 Total Debt/Equity (MRQ) NM Valuation Ratios Price/Earnings (TTM) 42.11 Price/Sales (TTM) 4.50 Price/Book (MRQ) 4.31 Price/Cash Flow (TTM) 149.87 Per Share Data Earnings (TTM) $ 0.33 Sales (TTM) $ 3.10 Book Value (MRQ) $ 3.24 Cash Flow (TTM) $ 0.09 Cash (MRQ) $ 0.25 Mgmt Effectiveness Return on Equity (TTM) 11.20 Return on Assets (TTM) 1.01 Return on Investment (TTM) 11.20 Profitability Gross Margin (TTM) % Operating Margin (TTM) % 42.56 Profit Margin (TTM) % 10.69 ********************* NTBK: Recent Price $ 35.75 52 Week High $ 83.00 52 Week Low $ 3.58 Avg Daily Vol (Mil) 2.14 Beta NA Share Related Items Mkt. Cap. (Mil) $ 1,029.71 Shares Out (Mil) 28.80 Float (Mil) 23.60 Dividend Information Yield % 0.00 Annual Dividend 0.00 Payout Ratio (TTM) % 0.00 Financial Strength Quick Ratio (MRQ) Current Ratio (MRQ) NM LT Debt/Equity (MRQ) 0.00 Total Debt/Equity (MRQ) NM Valuation Ratios Price/Earnings (TTM) 132.90 Price/Sales (TTM) 31.11 Price/Book (MRQ) 6.42 Price/Cash Flow (TTM) 78.57 Per Share Data Earnings (TTM) $ 0.27 Sales (TTM) $ 1.15 Book Value (MRQ) $ 5.57 Cash Flow (TTM) $ 0.46 Cash (MRQ) $ 0.06 Mgmt Effectiveness Return on Equity (TTM) 9.10 Return on Assets (TTM) 1.65 Return on Investment (TTM) 9.10 Profitability Gross Margin (TTM) % Operating Margin (TTM) % 37.09 Profit Margin (TTM) % 22.65 Mil = Millions MRQ = Most Recent Quarter TTM = Trailing Twelve Months ********* USAB's website soon to be implemented.