Cool Value In Alaska: Northrim BanCorp, Inc.

  • Third largest bank in Alaska selling at a discount to book value and its peers.
  • Temporary macroeconomic headwinds primary cause for undervaluation.
  • Approximate fair value close to 30% higher than today’s market price.
  • 21-year history of uninterrupted dividend payouts carrying a present 3.20% annual yield.

As contributed to Seeking Alpha

Another Bank Below Book Value: Premier Financial Bancorp

Premier Financial Bancorp (NASDAQ: PFBI) is a relatively small and sleepy multi-state bank holding company with 47 branch offices across five states and Washington D.C. which originates residential, commercial, and consumer loans and not much else.

However, unlike some of its community banking contemporaries, Premier has a documented history of profitability as it has been profitable on a net income basis in each of the past 10 years including 2008/2009, bears a uninterrupted dividend payout harking back to 1996 amounting to just over a 4% annual yield today, and has a management team with a very well defined strategic plan in place… which they have actually executed upon to date!

As contributed to Seeking Alpha

Is There Really No Place Like HomeStreet? Pt. II

In the first of this two-part series on HomeStreet (NASDAQ: HMST) bank we took a look at some of the things impeding its path to greater efficiency and profitability.

Now, we go into depth on some of the things it has gotten right, attempt to place an approximate value on the bank holding company, and consider catalysts for its potential realization.

As contributed to Seeking Alpha

Is There Really No Place Like HomeStreet? Pt. I

The MG2 re-branded thrift recently turned commercial bank founded in Washington State some 95 years ago has been through a resurgence of late with an expansion into southern California by way of the acquisition of Simplicity Bank completed last March, its CEO Mark Mason being named Seattle Business Magazine’s 2015 “CEO of The Year,” and a gradual improvement in its overall loan book.

We take a look to see if the former Continental Savings Bank can continue this positive momentum or if a return to its darker pre-2012 days may be ahead.

Read the entire article at Seeking Alpha