(AFBA) Quote

AFBA: Merged with ServBanc Holdco, Inc.; $10.49 per share.

FINRA deleted symbol:

https://otce.finra.org/otce/dailyList?viewType=Deletions

https://seekingalpha.com/article/4430304-allied-first-bancorp-stock-a-small-bank-with-big-earnings

Anyone know about the preferred stock and January 2017 equity offering? How many shares are there now, and how much preferred stock is there now? This company looks interesting...

Salty, so do I.

I wish I had bought a few more shares back when they were on sale for a dime.

Salty, 1.25.

I'm really surprised that AFBA hasn't hit the two buck level.

Salty,

Tangible book value per share fully diluted as of Dec. 2017 is 4.03.

Maybe I'm a bit too optimistic but I think AFBA will hit the three buck level this year.

We seem to have some good things going our way so maybe AFBA will break loose for us soon,

I think a buck pps is in the future for AFBA but I guess we'll have to wait until next year.

So am I,Salty.

I hope AFBA has a sparkling 3rd quarter report. I'm ready to see the pps hit the buck level.

I'm thinking about bidding .65 for 5000 more shares. It may take a little while but I think AFBA is headed to the $5.00 level.

Salty, AFBA was profitable last quarter, according to the call report.

Things are looking gooder and gooder on the AFBA board.

I sure hope you aren't an English teacher.

Salty, if only we had, we could make a down payment on our Rolls.

I think the AFBA pps moves pretty close to two bucks after the 1st quarter report is released. Alas, we should have loaded up on the dime shares.

'genlou' the AFBA annual report has a paragraph about there being the possibility of a capital raise of about $6MM through an investment bank, provided that the holding company receive a discount on TARP, plus some regulatory approvals, (see page 14 of the AFBA annual report). That could be very meaningful to the bank's future, and hopefully rewarding to all shareholders. IEBS was trading around 35 cents when they came up with a capital raise at 80 cents per share. The stock moved to over 2.20 per share soon thereafter. Trades now around 18 cents, I think because the bank got off track with electronic payment business venture. But the company also offered all shareholders rights to buy more stock at the same price that the investors did at 80 cents, so it was a sweet deal at the time.

CYHC is the 15,000/share bank. Only own 1 share, but it pays a fat dividend of $250 per quarter, so a nice yield.

Also own PTBS, PNBI, FKYS, UBPC for dividends. Though I sold to early, I also owned another stock (have to look at the symbol) that was trading for 40 cents and rocketed to about $10 (could be even higher now).

I rarely sell stocks that I buy. I think there are plenty of opportunities in these beat down stock and sooner or later, the not-so-geniuses on Wall Street will catch on to the risk/reward here.

Salty,

I got my proxy yesterday.

Jbaxter,
Wow! what a bank stock.I have not posted on CCFH board as of yet.I do know Salty called the bank to learn how many shares are outstanding.The bank is also profitable.I believe the shares are trading below book value. I must read 56Chevy's post again.

Genlou,
I own several banks, one trading at $15,000.00 per share, and a few others all the way down in price to this. CCFH looks interesting, I'll look closer into that and follow you on that board.

A few of these sub $1 stocks have done wonderful for me. Once they fall below $2, most on Wall Street want nothing to do with them, until the insiders get their act together and clean up their books. While I usually keep clear of stocks with PFD stock in them, in the case of AFBA, the common stock outstanding is so low it is way to compelling.

These stocks are very speculative at this point, so you are wise to diversify if this is the area you are looking at investing. I do believe in wealth concentration to build wealth quickly, so if you find a nano-cap stock like AFBA, not only might you be concentrating your funds, you are also concentrating you % of ownership in the company at the same time. Of course, it could mean the entire loss of every cent of your funds if you do that. It has worked well for me.

jbaxter,nice close it would be nice if the pps would remain at that level.I would like to see AFBA shareholders equity increase.Is AFBA the only bank stock you own? Check out CCFH message board.I have a bid in for more shares at .91.I am trying to protect my portfolio by investing in more than one bank stock.



https://www.heritagebank.com/

The 200 share trade did light up my portfolio's numbers. There was like 23k shares offered at 84 cents at the end of the day. Perhaps someone that got just under 5% of the outstanding on the cheap and wants a good percentage flip?

Might be time to call the CEO and have a background chat, or find out if anyone knows who maybe interested in selling all of that. If I had just a bit more confidence in the company's future, it would be nice to be able to snap up a huge block like that in one big swallow, especially since it is so cheap. Tough decisions.

Agreed! Lots of leverage for each dollar invested. Great for the wait and seers'.

jBaxter, AFBA is well capitalized.As long as the bank is well capitalized our investment is safe.


http://www.ibanknet.com/scripts/callreport



Capital categories. For purposes of section 38 and this subpart, a bank shall be deemed to be:

(1) Well capitalized if the bank:

(i) Has a total risk-based capital ratio of 10.0 percent or greater; and

(ii) Has a Tier 1 risk-based capital ratio of 6.0 percent or greater; and

(iii) Has a leverage ratio of 5.0 percent or greater; and

I saw that :). Sometimes an annual meeting and reports will help management clarify their mission. For what you can buy an option for, you can get an even bigger return if things work out. If not, the risk is about the same, only AFBA doesn't have an expiration date. Hope I'm right, I think they can make this work.

jbaxter, I have not received my proxy yet.I am glad AFBA does not have a lot of shares outstanding.We should not have to worry about a reverse stock split.I wish I had purchased more shares before the pps moved up.

Got my proxy and voted it today. Was hard to know whether it would be worth going to the annual meeting or not, but I live too far away.

Crazy anyone could be a 5% large common stock holder for less than $13k. If it dips, I may consider it, as I'm not far from it now.

jbaxter,
I am hoping AFBA will do well.I look forward to seeing the call report next month.

You're welcome. Are you still bullish on AFBA? I think they have a chance of survival if not thrive if they can scale their business out. Dollar for Dollar, share for share, you get a lot of equity for very little, served with a big helping of risk, for sure.

jbaxter, thanks for posting earnings.

Earned 43 cents last quarter. Negative book value is an issue, but a market cap just north of $500k seems crazy cheep even with the risk. Bid 50 cents offered a buck. Would like to see some insiders buying or something.

http://www.alliedfirst.com/home/fiFiles/static/documents/QuarterlyFinancials.pdf

Good luck, Salty.

I'm going to put in a .27 bid today. Maybe I'll get lucky and snag a few shares.

Salty, that would be great!

I'm trying to "steal" shares at a dime a pop today.

I believe the bid during market hours was .55.

Looks that way. Some sort of adjustment might have brought equity down, but at least no loss. Looks like they may have also lowered their employee count if I compare to last quarter. Not sure why the bid is so low.

Profitable fourth quarter according to call report.

I think we're just a couple of weeks away from a buck.

Salty, .50 today.

Another stock that I should have bought yesterday. Such a small cap, you can buy the whole company for about a quarter million?

Salty, that will be great.

I'm looking forward to the 4th quarter report. I think we'll hit a buck after it comes out.

Salty, .42.

That is really a massive number especially when you consider the OS is just a bit more than 500K. I think the AFBA pps hits a buck soon.

Salty AFBA was profitable last quarter earned $80,000.00.Which is .16 a shares.Information on AFBA website.

It's nice to see the bid move to .40. In another couple of weeks I think we just might see the bid at a buck forty.

Salty,I am happy to learn this morning AFBA hit .49 yesterday.Salty, regrets, regrets, regrets, I wish we had focused on AFBA earlier.Maybe we could have picked up some shares at .05, I tried but no luck.