The Case of a Southern Revival
The Heritage Bank franchise lost a huge percentage of its equity at the time, but clearly it did not lose faith! Since then, asset quality, growth, and scarcity value have all risen to such a glorious degree that I can see CCFH stock trading at 150% of book value within the next two years. And if the bank's board decides to sell, the stock could deliver twice book.
Disclosure: As of this posting, I own shares of CCFH and may subsequently either dispose of them or purchase more.
Wrapping Heritage Bank into its fold would fill a real need for any one of these organizations that suffer from lack of marketshare in the area:
Ameris Bancorp, Moultrie, GA (ABCB)
State Bank Financial, Atlanta, GA (STBZ)
United Community Banks, Inc, Blairsville, GA (UCBI)
†as of 06/30/2016
**ROE and ROA numbers are misleading due to the bank's DTA recapture.
David Turner, Chairman
Leonard Moreland, President and CEO
Katherine Zovlonsky, Senior VP and COO
The Heritage Bank resurrection story in a nutshell: