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Author Topic: FRGB O/S 11 million .54
invester
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Insider buying going on. Management holds a significant amount of shares. They have only 11 million O/S, This one looks good. Thanks
sju1973

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sju1973
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You're welcome. Glad to chip in when I can. Looking at the 10 year chart this was a $30 stock back in 07.
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invester
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With an O/S of 11 million, and the insiders buying, that tells me that things are going well, and there is little chance of dilution. A 110 million market cap is $10 on this. That’s nothing to a bank. Nice find.
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invester
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The volume is increasing on the chart moving upwards. This will be $1 in a few of days. .57
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invester
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Market cap $6.75 million. This may be one of the cheapest I've seen. They have a substantial tax break ahead of them as well. This might be a 10x bagger.
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invester
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$2.29 in cash


EPS excluding extraordinary items (TTM) -11.80
EPS Normalized (MRFY) -2.00
Rev per share (TTM) 6.23
BV per share (MRQ) 1.90
Tangible BV per share (MRQ) 1.90
Cash per share (MRQ) 2.29
Cash flow per share (TTM) -11.68
Indicated Annual Dividend (US) --

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invester
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.68
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invester
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Up 18%
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invester
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I'm surprised this hasn't been bought.
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invester
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Also, per Obama, they will be issuing 30 billion Trap for community banks. This stock is going to fly, and I also think this is just more of an incentive for them to get bought out.
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invester
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Just bought more. Up 20%
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invester
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.72 Up 26% This thing will be $1+ shortly. O/S of 11 million. Insiders buying.

.

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invester
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$7.9 million market cap. I can't believe how cheap this is.
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invester
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Just bought more.
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invester
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Latest News Headlines for First Regional Bancorp
First Regional Bancorp: The Trend Continues Up (FRGB)
2 minutes ago - Comtex SmarTrend(R)

SmarTrend identified an Uptrend for First Regional Bancorp (NASDAQ:FRGB) on December 10, 2009 at $0.51. In approximately 2 months, First Regional Bancorp has returned 15.7% as of today's recent price of $0.59.

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invester
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Up 30%
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sju1973
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Nice.
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invester
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Total Assets 1.3 billion. Over $2 per share in cash. REALLY nice find sju1973
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jdizz
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nice!

--------------------
dont make yourself loose money in a stock that you had a resonable profit in

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invester
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Obama unveils 30 billion dollar fund to aid small businesses


Obama Urges for Refinance
$180,000 Refinance under $939/mo. See Rates- No Credit Check Req.
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Support the Republican National Committee & Make a Difference.
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YOU WERE READING
Worst of economic storm passed: Obama
US President Barack Obama declared in his State of the Union address on Wednesday that the worst of the economic storm had passed, but that a trail of devastation was left behind. Text of Obama's speech
Serena Williams into 5th Australian Open final
Jobs creation top priority in 2010
Obama pledges to double US exports
Obama hails nuclear talks
Obama threatens veto on spending increases
Obama unveils 30 billion dollar fund to aid small businesses
Obama vows to repeal military ban on gays
Agence France-Presse
Washington, January 28, 2010
First Published: 08:24 IST(28/1/2010)
Last Updated: 08:25 IST(28/1/2010)

Print




US President Barack Obama said Wednesday that 30 billion dollars from a Wall Street bailout fund would be used to help small businesses still reeling from financial crisis.

"I'm proposing that we take 30 billion dollars of the money Wall Street banks have repaid and use it to help community banks give small businesses the credit they need to stay afloat," Obama said in his first State of the Union address.

Many of the biggest US banks have repaid billions of dollars they borrowed from the state-run Troubled Asset Relief Program (TARP) established to bail out the financial industry on the verge of collapse from the financial crisis.

The crisis stemmed from an American home mortgage meltdown.

Obama also proposed a new small-business tax credit, "one that will go to over one million small businesses who hire new workers or raise wages."

"While we're at it, let's also eliminate all capital gains taxes on small business investment, and provide a tax incentive for all businesses, large and small, to invest in new plants and equipment," he said.

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invester
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Up 35% .77
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invester
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Wow, the share structure hasn't changed for 10+ years. 11 million O/S
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invester
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There should be $1.15 extra in the earnings when they come out. Couple that with the Tarp, and $2 in cash, we've got a $5-$10 stock easily.

November 23, 2009 05:16 PM Eastern Time
First Regional Bancorp Announces Anticipated Tax Recovery Due to Recent Legislative Action; Increases Loss Provisions for Third Quarter of 2009
CENTURY CITY, Calif.--(BUSINESS WIRE)--First Regional Bancorp (NASDAQ: FRGB) today announced it expects to recover approximately $13.6 million of taxes paid in prior years due to the recent enactment of House Bill 3548, which includes an extension of the tax net operating loss (NOL) carryback period from two to five years. The recovery amount is subject to change based on the company’s final tax calculations for the full year of 2009, but at this time no significant change is anticipated. Because First Regional currently has a valuation allowance offsetting its NOLs, the amount recovered through the extended carryback will be recorded in earnings and capital in the fourth quarter ending December 31, 2009. The provisions of the carryback extension do not apply to any bank which has accepted Troubled Asset Relief Program (TARP) funds, but First Regional has not accepted any TARP funds.

“This change in the tax laws will result in a welcome benefit to our capital during the fourth quarter of 2009. Based on our balance sheet totals as of September 30, 2009, this tax benefit equates to a gain of approximately $1.15 per share.”
.H. Anthony Gartshore, President and Chief Executive Officer of First Regional, said: “This change in the tax laws will result in a welcome benefit to our capital during the fourth quarter of 2009. Based on our balance sheet totals as of September 30, 2009, this tax benefit equates to a gain of approximately $1.15 per share.”

The company also announced that, in finalizing its Quarterly Report on Form 10-Q, and in consultation with the company’s independent auditors, First Regional determined to increase its allowance for loan losses as of September 30, 2009 to $70.8 million. This represents an increase of $13 million from the loan loss allowance previously announced by First Regional in its press release of November 12, 2009.

The adjustment to First Regional Bank’s allowance for loan losses represents an increase in the company’s general valuation allowance. No adjustment has been made to the specific reserves against problem loans since the company’s announcement of financial results made on November 12, 2009.

Mr. Gartshore added: “The company believes that the bolstering of its general valuation allowance for loan losses represents a prudent and conservative acknowledgment of the current severe and uncertain economic conditions facing the nation.”

As a result of this increase to First Regional’s allowance for loan losses as of September 30, 2009, the company reported an adjusted net loss for the quarter ended September 30, 2009 of $14.6 million, equal to $1.23 per diluted share, compared to the originally reported net loss for the third quarter of $1.6 million, equal to 13 cents per diluted share. This third quarter loss will be substantially offset by the tax recovery resulting from the carryback of net operating losses during the fourth quarter, as discussed above.

First Regional Bancorp is a bank holding company headquartered in Century City, California. Its subsidiary, First Regional Bank, specializes in providing businesses and professionals with the management expertise of a major bank and the personalized service of an independent.

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invester
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Moving Average Price Compare
FRGB is trading above its 50 day moving average. This is considered to be the sign of a bullish trend. There is added weight to this indication because the moving average is rising and suggests that there has been buying interest in this stock.

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invester
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Moving Average Price Compare
FRGB is trading above its 20 day moving average. This is considered to be the sign of a bullish trend. There is added weight to this indication because the moving average is rising and suggests that there has been buying interest in this stock.

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invester
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Bought more at .73 I've got a large position in this one.
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invester
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I'm looking for a 3-5 day run on this. Looking to pullback at $1.50 or so.
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invester
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Bought more at .66
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invester
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I see .80+ close.
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invester
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Big block buys.
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invester
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Actually it was $34 in 07. with the 30 billion going to regional’s from the TARP, we might start to see those levels again in a year or so.
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invester
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I didn't see this. This was just filed. He just bought an additional 84,000 shares.

1. Name and Address of Reporting Person *

SWEENEY STEVEN J 2. Issuer Name and Ticker or Trading Symbol

FIRST REGIONAL BANCORP [ FRGB ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director _____ 10% Owner
__ X __ Officer (give title below) _____ Other (specify below)
General Counsel
(Last) (First) (Middle)

1801 CENTURY PARK EAST 3. Date of Earliest Transaction (MM/DD/YYYY)

1/15/2010
(Street)

LOS ANGELES, CA 90067
(City) (State) (Zip) 4. If Amendment, Date Original Filed (MM/DD/YYYY)

6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 1/15/2010 W (1) 84000 A

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invester
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Open market purchase. That’s really good news
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invester
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Bought more at .62
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invester
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Sweeney (Jack A) ownership 3,159,087 26.7%

The family is still buying. They collectively own about 45% of the company. They may take it private. With the TARP coming, this would be huge.

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