ATLValue Posted December 8, 2015 Share Posted December 8, 2015 Has anyone ever taken a look at this Bank? At first glance it seems pretty interesting, it is a micro cap bank trading at 4-5 times earnings and 0.30 - 0.40 book value. As I did some more research on the bank I found out that it is actually in the process of merging with another small bank, Congressional Bank: https://www.congressionalbank.com/cb-news/congressional-bancshares-merge-american-bank-holdings-inc/ According to the press release: "Following the spinoff of certain American assets to a newly formed entity, the owners of which will be the shareholders of American, the shareholders of American will exchange their outstanding shares of American for shares of common stock of Congressional pursuant to an exchange ratio." I can't find the merger documents anywhere to see if this is something interesting to get involved with and the merger closes by the end of this year. Has anyone else come across this Company? Link to comment Share on other sites More sharing options...
Radio Free Cash Flow Posted December 10, 2015 Share Posted December 10, 2015 This is a fine idea, but you just aren't going to get a lot of interest in a company with a share price of almost $12,000 and a bid/ask spread a mile wide. There's huge opportunity in these high-priced stocks, but the potential shareholder base is limited. Link to comment Share on other sites More sharing options...
Spekulatius Posted December 11, 2015 Share Posted December 11, 2015 How do you know the share count. I get 1,579 shares from the OTCMarket website, but that is based on 2007 data. Earnings and equity can be pulled from the FDIC records, but I don't think the share count can be pulled from there. Anyone has an annual report that they would be willing to share? I also think that last years earnings were and aberration - noninterest income was fairly high last year. Link to comment Share on other sites More sharing options...
ATLValue Posted December 11, 2015 Author Share Posted December 11, 2015 I was operating under the 1,579 share count assumption, admittedly dated information which is why I was looking for the merger docs. I'm surprised that these don't need to be posted on the FDIC or OCC websites. Link to comment Share on other sites More sharing options...
oddballstocks Posted December 11, 2015 Share Posted December 11, 2015 There's a way to get the accurate share count. There are 1,802 shares as of May 2014. For American Bank Holdings here is the insider info: Name NumberOfShares PercentageOfVotingStock Erik D. Bolog* 128 0.071 Howard J. Postal 104 0.058 Michael A. Postal* 100 0.056 J.R. Schuble Jr.* 560 0.312 Steven Schuble 50 0.028 Link to comment Share on other sites More sharing options...
oddballstocks Posted December 11, 2015 Share Posted December 11, 2015 I should note I don't have the annual report. But you don't need an annual report or proxy for any of this info. Link to comment Share on other sites More sharing options...
ATLValue Posted December 11, 2015 Author Share Posted December 11, 2015 Thanks Oddball, curious about where you found it... I just tried searching again for the proxy and can't find anything Link to comment Share on other sites More sharing options...
oddballstocks Posted December 11, 2015 Share Posted December 11, 2015 Thanks Oddball, curious about where you found it... I just tried searching again for the proxy and can't find anything We have insider ownership information (including share counts) for 3,000+ bank holding companies both public and private on CompleteBankData. This includes a LOT of OTC banks as well as thousands of private banks who's ownership isn't publicly known. I've digitized this, at one point I had 20 people in India typing this into computers for us from original paper filings obtained via FOIA requests. But it's powerful as seen above. The 2014 numbers were finalized for some districts in the last month or two. Some districts still haven't finalized things and those numbers will be flowing through soon. Link to comment Share on other sites More sharing options...
Spekulatius Posted December 11, 2015 Share Posted December 11, 2015 I hope the PercentageofVotingStock numbers are off by a factor of 100x or this stock is really expensive. Great info! Link to comment Share on other sites More sharing options...
oddballstocks Posted December 11, 2015 Share Posted December 11, 2015 I hope the PercentageofVotingStock numbers are off by a factor of 100x or this stock is really expensive. Great info! Sorry, yes, it's percentages. So .07 is 7%. Link to comment Share on other sites More sharing options...
moustachio Posted December 11, 2015 Share Posted December 11, 2015 If the volume listed in yahoo finance is correct then this stock almost never trades. There is literally 0 volume almost every day, with 100 shares trading in a day every month or two. Link to comment Share on other sites More sharing options...
Jurgis Posted December 11, 2015 Share Posted December 11, 2015 If the volume listed in yahoo finance is correct then this stock almost never trades. There is literally 0 volume almost every day, with 100 shares trading in a day every month or two. 100 shares is >5% of market cap you know. Just sayin' Link to comment Share on other sites More sharing options...
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