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NASDAQ:FUNC
A lovely little bank that seems to be very well run. Expects there will be a dividend at some point. Only have about 6.2 million shares, and didn’t increase the share count during the recession. Thinks it can double from this point. Financials and capitalization ratios are good. He is very happy to hold this one. (See Top Picks.)
A small Oakland Maryland bank with 27 locations. Selling for about a 3rd less than Book Value with no goodwill on the balance sheet. At its height it paid a dividend of 19.5 cents a quarter. Currently it has no dividend. They are in good standing with the regulators so they don’t have to deal with them except for normal banking stuff. Feels they are in a strong recovery mode. Expects a dividend will come back in the next 2 years. Good management.