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

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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