Small Cap Bank Earning 14% ROE at 0.94x BV

$75MM for a $600MM asset bank with 15% capital

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Disclosures: None

Note: This first look is not exhaustive. This is my first time looking at the company. This post is designed to share my findings, both positive and negative.

The overarching goal is to learn about a new company and put it on both our radar screens.

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Last week, I shared my findings on Crazy Woman Creek Bancorp, a $15 million market cap bank earning 12% ROE.

This week features another bank:

• 1.80% return on assets

• 14% return on equity

• Capital of 12.9% (7.75x leverage)

• Available for 0.94x tangible book value

• Actively repurchasing shares