tag:blogger.com,1999:blog-8448772781137071684.post8477689344005961486..comments2024-03-26T10:02:02.339-11:00Comments on Timyan® Bank Alert: UPDATE: Merchants Financial Group, Winona, MN (MFGI)Phil Timyanhttp://www.blogger.com/profile/10406944702623010051noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-8448772781137071684.post-48089363904475286232017-06-15T07:19:10.574-11:002017-06-15T07:19:10.574-11:00Thanks for reading and taking the time to comment ...Thanks for reading and taking the time to comment Olaf. $IOFB does look like it has cleaned up nicely. You're right as well about their low profitability. On the other hand, it is still trading near book value. Management at MidWestOne has done a very good job I think.<br />Good Luck!<br />PhilPhil Timyanhttps://www.blogger.com/profile/10406944702623010051noreply@blogger.comtag:blogger.com,1999:blog-8448772781137071684.post-38791765147473503302017-06-02T09:29:49.031-11:002017-06-02T09:29:49.031-11:00Thanks, late to comment here. I can't find a ...Thanks, late to comment here. I can't find a reason to not invest in this stock (well except for committing a sizable portion of capital to purchase a chunk of a private bank. Followed the midwest bank scene for ever. Not sure if 1.2% NALs good, but def. not bad. Just seems like a no brainer to invest to me.<br /><br />I own IOFB, had a couple of big bad loans on the books and charged one of them last quarter. I think they are cleaning up the balance sheet, my only concern is profitability. Never owned Hills, owned Iowa City competitor until what became Midwest One took them out, Hills always seems over-priced to me, great market IMHO. That company just seems too content to me, don't like to merge or to be merged. Besides Ames, not sure of a good market in Iowa they could go into either....<br /><br />Thanks for MFGI post Olaf Danielsonhttps://www.blogger.com/profile/18427270873795437960noreply@blogger.comtag:blogger.com,1999:blog-8448772781137071684.post-42632663457130149232017-04-29T12:10:40.532-11:002017-04-29T12:10:40.532-11:00Hello nervhq7! Thanks for reading and commenting. ...Hello nervhq7! Thanks for reading and commenting. I'm happy you are a proud owner of MFGI.<br /><br />The cutoff of 25th percentile of all US Banks trading OTC currently stands at an ROA of 1.03% and an ROE of 9.77% per the screen I ran Friday on SNL. If you look at listed banks, the cutoff is 1.1% ROA and 9.95% ROE.<br /><br />I am not familiar with HBIA or IOFB, but am glad to hear about them and will go take a look. Thanks!<br /><br />Good Luck,<br />PhilPhil Timyanhttps://www.blogger.com/profile/10406944702623010051noreply@blogger.comtag:blogger.com,1999:blog-8448772781137071684.post-23527426662940714532017-04-21T11:09:55.823-11:002017-04-21T11:09:55.823-11:00I actually ran across MFGI thanks to your prior ar...I actually ran across MFGI thanks to your prior article on the bank. So am happy to hear that you have revisited it. I am curious as to what the cutoff is for both ROE and ROA to make it into the top 25% of US based banks.<br /><br />In addition, have you ever looked at some of the smaller Iowa based banks, such as HBIA and IOFB? As I would be curious as to what your thoughts on them are (even though IOFB has had 2 bad quarters).Anonymousnoreply@blogger.com