by Sam Haskell | Nov 8, 2021 | Corporate Governance
From time to time I will write about client positions, not as investment advice but to share some of the lessons we learn from inside the sector. Your comments or outreach are welcome via our contact page. As flexes go, the above paragraph above, hidden at the bottom...
by Sam Haskell | Oct 20, 2021 | Corporate Governance
As banks rally at the same time many of them are making low ROI loans, we’re spending a minute this afternoon making sure folks know what they are getting when they buy the sector. Is banking a good business? A good business returns more than its cost of...
by Sam Haskell | Sep 13, 2021 | Corporate Governance
Last week Pacific Enterprise (PEBN) announced it was selling to Bay Commercial (BCML). Pacific Enterprise is a $650 million, 1-branch bank in Irvine, CA with 1/3 of loans in PPP, typically earning 7% ROE at 65% efficiency. Normally PEBN holders would read the merger...
by Sam Haskell | Jun 29, 2021 | Corporate Governance
We have gotten a number of questions about what digital currencies mean, so below is a brief primer on their current status and potential impact. While this topic may seem wonky today, we will all at some point in the next few years likely have the option of a digital...
by Sam Haskell | Apr 5, 2021 | Corporate Governance
The secrets of the proxy are a few clicks away Skip Hageboeck runs one of the banking industry’s most consistently profitable banks – City Holding in West Virginia (CHCO) – but he was frustrated during a recent conversation. Too many of his merger...
by Sam Haskell | Mar 1, 2021 | Banks, Corporate Governance
Does the bank rally stall? Reading Warren Buffet’s letter this past weekend, bank investors might wonder why Berkshire’s investment heads dumped so many banks near the bottom. After all, banks are not far behind airlines and wildcatters in line to benefit...
