Microcap OTC Bank Lists on NASDAQ at Attractive Valuation

15.0% Avg. ROE; ~30% efficiency ratio; superb credit quality

---

Highlights

I can only tease this for non-subscribers given the size of the bank and relatively low liquidity (I may release the post at a later date).

• Offering will take some chips off the table for the founding family but still leave 47% insider ownership post-sale.

• Valuation is fair at 1.18x June 30, 2026 book value

• Five-year average ROA: 1.31%

• Five-year average ROE: 15.0%

• Net charge-offs average -0.02% since 2018 (meaning small net recoveries)

• 90% of loan book in CRE with concentration in multi-family

• Average LTV of 39%

• Tangible book value per share CAGR of 13.7% over 10 years

  

Disclosure: No position as of this writing.

---

Drumroll…