Hibernia Bancorp to be sold for $32.00 in cash

Exactly one year ago today, I posted about Hibernia Bancorp. Yesterday, the company announced it will be bought by Union Savings and Loan Association for $32.00 in cash. Hibernia was one of the very few banks out there that was still trading below 80% of book value (up until yesterday). In my post I speculated […]

Acquisition offer for Company 5

An acquisition offer for “Company 5” (published on VIB premium on June, 28) was made yesterday. Company 5 is County First Bank (OTCMKTS:CUMD) and is being acquired by The Community Financial Corporation (NASDAQ:TCFC), which is a larger, Nasdaq-listed bank. The press release can be found here.

Hibernia Bancorp

After Trump’s election win, many financial stocks have been flying high, but I’m still finding a reasonable number of cheap micro-cap community banks that have been left behind. Since early 2015 I’ve slowly built a basket of these small banks. I’ll highlight one more in this post.

Bank of McKenney

Bank of McKenney (BOMK) is a small bank located in Virginia and serving customers within the counties of Dinwiddie, Chesterfield and Prince George and the cities of Colonial Heights, Hopewell and Petersburg. The bank has been in operation for more than 100 years: it was established on June 5, 1906. At year-end 2014 the bank […]

Perpetual Federal Savings Bank

After reading a number of articles and blog posts last year, I became convinced that as a group the small community banks were cheap compared to historical trading levels and that there is a long trend of consolidation among these small banks that is likely to continue. That’s why I bought a basket of community […]