posted
WILD Close. .65 The way they played it at the close tells me this will run tomorrow.
Posts: 4381 | From: houston | Registered: Mar 2006
| IP: Logged |
posted
Actually: FRGB Assets: As of June 30, 2009 total assets were $2,286,994,000 Much more than I stated before.
Posts: 4381 | From: houston | Registered: Mar 2006
| IP: Logged |
posted
Look at what they set aside for loan losses. This company is trading at pennies and it should be $15+ I can't believe the disconnect here.
First Regional has made $108,505,000 in provisions to its allowance for loan losses and charged off a total of
Posts: 4381 | From: houston | Registered: Mar 2006
| IP: Logged |
posted
That's what I am wondering. I put an order in this morning. I just cancelled it. Not sure what's going on.
Posts: 426 | From: Philadelphia, PA | Registered: Nov 2008
| IP: Logged |
posted
With all the insiders buying, I'm not worried. They wouldn't have put up 50k a few days ago if something was wrong. They would have also sold the 35%+ that they own of the company.
Posts: 4381 | From: houston | Registered: Mar 2006
| IP: Logged |
quote:Originally posted by invester: With all the insiders buying, I'm not worried. They wouldn't have put up 50k a few days ago if something was wrong. They would have also sold the 35%+ that they own of the company.
Not really, unless the info was public the insiders can't dump their shares on coming bad news. NASDAQ is probably just asking for an official comment on the movement yesterday
Posts: 41 | Registered: Sep 2008
| IP: Logged |
posted
I did a little research about a T12. It has been used in the past to post earnings, and also to update compliance with NASDAQ listing "above 5 million market cap" etc... I think this is no big deal.
Posts: 4381 | From: houston | Registered: Mar 2006
| IP: Logged |
posted
Good news from another board. The climb continues.
FRGB >>
FRGB filed a document to NASDAQ yesterday or the day before yesterday that its market capitalization has been at least $5 million for a minimum of 10 consecutive business days (11 business days from Jan 13th to 28th), and therefore FRGB met the requirement to be listed
on NASDAQ. NASDAQ is requesting additional documents to decide.
Nothing to be afraid for longs. This halting is not related to FDIC at all. FDIC should have listened to Obama's speech about offering 30 billion TARP to help community banks. FDIC wont close more banks when the federal support is on the way.
Posts: 4381 | From: houston | Registered: Mar 2006
| IP: Logged |
posted
I GOT IT. There getting bought out. And here’s why. They are at a T12 which requires more information from NASDAQ. If it wasn’t a big deal, they wouldn’t have halted The number is probably so much higher than .65 that NASDAQ needed more info. They will then move to a T1 and T2 and so on. They’ve got $2 in cash, and a $1.15 tax break coming back to them. That’s $3.15 a share right there. They have over $2 billion in assets. You now have government TARP “if they want it”. And lastly, the insiders were buying just a few days ago. Thoughts?????
Posts: 4381 | From: houston | Registered: Mar 2006
| IP: Logged |
posted
makes no sense. NASDAQ doesn't ask for more info on buyouts and it wouldn't be halted all day.
One other thing, looking at the filing for Sweeney he didn't buy any stock, actually looks like he sold stock. i think you misread the filing. or maybe my vision is going
posted
SAN FRANCISCO, Jan 29, 2010 (BUSINESS WIRE) -- The California Department of Financial Institutions (DFI) today announced that First Regional Bank (First Regional) was closed and ordered to be liquidated, citing inadequate liquidity and inadequate capital. First Regional is a federally insured, state-chartered commercial bank based in Los Angeles with total assets of approximately $2 billion. Its deposits are federally insured for up to $250,000 by the Federal Deposit Insurance Corporation (FDIC). The FDIC was appointed the reciever of First Regional by the DFI. The FDIC has accepted a bid from First Citizens Bank of North Carolina to acquire First Regional and assume its deposits, including all uninsured deposits. For information about FDIC coverage limits and requirements, visit or call toll-free 1-877-ASK-FDIC. Maintaining the integrity of financial services remains the primary mission of the DFI. The DFI oversees the secure operation of California's state-chartered financial institutions. The DFI ensures public confidence in financial institutions by protecting the interests of depositors, borrowers, shareholders and consumers through enforcement of state laws. In addition to posting information about the DFI and its licensees, the DFI's website features consumer tips on a variety of financial topics and consumer information brochures in seven languages. The DFI reports to Dale E. Bonner, Secretary of the Business, Transportation and Housing Agency and Governor Arnold Schwarzenegger.
Doesn't look good. I'm not sure what happens to the commons but I wish the best for all holding.
Posts: 426 | From: Philadelphia, PA | Registered: Nov 2008
| IP: Logged |
posted
Well, they were almost shut down last march so that makes sense. Too many bad loans, couldn't get the capital ratios up
Posts: 1045 | From: novato,ca,usa | Registered: Aug 2003
| IP: Logged |
posted
It's good to hear from you Invester. I know your loss was a large one. You're a good trader so I know you will come back. I'm rooting for you man. I had an order set for FRGB that morning that didn't fill because of the halt. So close to a total loss as well. I was fortunate to not have available funds the previous afternoon or I would have been in the same boat. Good luck to you. Good to see you back.
Posts: 426 | From: Philadelphia, PA | Registered: Nov 2008
| IP: Logged |