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

To: VALUESPEC who wrote (1558)	7/16/1999 12:43:00 PM
From: Tom Borst	Respond to of 2419

FYI, Yesterday at the shareholder meeting, Ken's wife Susan was having labor pains . . . don't be surprised if the birth of their baby coincides with the birth of something else!

To: VALUESPEC who wrote (1558)	7/17/1999 1:08:00 AM
From: Kevin McKenzie	Read Replies (1) \| Respond to of 2419

Valuespec, I agree that USAB seems to have spent advertising money a little early. Why drive people to a banking site before they can open an account. However, I think you're off base comparing USAB's share price to NTBK's. When you look at relative valuations between companies, the share price is irrelevant. What should be important is the total capitalization of the companies: NTBK's market cap is $918 million (28.8 million * 31 7/8) ; USAB's market cap is $49 million (4.01 million * 12 1/4). So NTBK is 18 times more expensive than USAB. Also, I think you're incorrect when you say USAB has no "internet" banking accounts. They have accounts from their ongoing banking operations. It is irrelevant whether these accounts were originated online or at a brick-and-mortar. As of USAB's most recent 10QSB, their 3 month average total interest bearing assets were $162 million. (http://biz.yahoo.com/e/990517/usab.html) As of NTBK's most recent 10QSB, their average interest earning assests were $526 millions. (http://biz.yahoo.com/e/990506/ntbk.html) I'm not saying I think USAB is expensive or cheap relative to NTBK, I'm just suggesting that when comparing the two companies you have to look at more than just price per share.