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IBDvalueinvestin (99.66)

Some banks are still profitable but are down 40% since Jan. 2nd, 2009

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January 21, 2009 – Comments (2) | RELATED TICKERS: HBHC

One bank that on Jan 2nd 2009 was at $45.56 today at only $26.48 even though they are still profitable and reported .26 eps , loan loss provisions are only in the millions not billions like other banks.

HBHC is down big today for being better off than the big Cap bad banks. This looks like a baby thrown out with the bath water. 

2 Comments – Post Your Own

#1) On January 21, 2009 at 11:15 AM, IBDvalueinvestin (99.66) wrote:

HBHC still growing : continued growth and strength of Hancock's balance sheet. At year end, Hancock's total asset level reached $7.2 billion, with deposits growing nearly $516 million during the quarter as many customers continued to seek a safe and secure bank for their money. In addition, our capital levels -- among the highest in our peer groups and without the aid of government bailout money as Hancock elected to pass on this assistance -- reached $609.5 million.

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#2) On January 21, 2009 at 12:06 PM, goldminingXpert (29.42) wrote:

By the time these banks drop another 40%, they will have turned unprofitable.

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