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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Spekulatius who wrote (46709)	4/26/2012 3:44:44 PM
From: Spekulatius	Respond to of 78774

re FMBL.OB - after i sold my share after a quick flip I own this now again in both my taxable and IRA accounts. FMBL is a family run small business bank in Long Beach. Very overcapitalized (they call themselves the strongest bank in California) with a 19% Tier one ratio, book value is 5270$/share (all tangible) and they made 450$ last year and 141$ last quarter. No SEC data but they post earnings on their website and of course there are FDIC records. Shares are currently going for 4260$ and there seems to be a seller at the 4260$ point.

To: Spekulatius who wrote (46709)	8/25/2012 2:21:20 PM
From: Spekulatius	Read Replies (1) \| Respond to of 78774

FMBL - averaging up at 4345$ . This bank has produced fairly good results - 127$/share in earnings for the last quarter. 27% risk based Tier I ratio. 700M$ in tangible equity and 2B$ in loans, the rest of the balance sheet are very safe bonds. Market cap is 560M$. NIM is 3.7%. If they ever get the loan portfolio growing again, the earnings should go north of 600$/share easily. They are semi-private but do publish results and there are of course FDIC records (as for any other bank). The stock is illiquid bot otherwise but from a business and valuation perspective it's as cheap and straightforward of a bank as you can get. fmb.com