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CIB Marine Bancshares, Inc. (CIBH)
Other OTC - Other OTC Delayed Price. Currency in USD
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8/17/21 CIBH ($29)
Shareholders meeting to approve the repurchase of preferred was adjourned to a later date. CIBH can finally be freed after that.
Kudos to the management whom did an outstanding job in managing the business all these years and this repurchase (at a discount!).
May their large stock grands/options reward them amply.
Assuming any stock options are exercised at $0, book value would be a little over $32.
At any rate, IMO it won't come through with book value over $40.
The bank has a mortgage operation which adds to profitability. It should be traded at above book value. Current share price represent about 30% to 35% discount from fair value.
Patience is required, especially that mortgage income is shrinking (to a more normal level).
So is the preferred buy back helping/hurting the price?
this has really good fundementists,no? and Zero volume ! just goes to show how bogus trading is..
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