New Hampshire Thrift Bancshares, Inc. (NASDAQ:NHTB)

btown819 (96.56) Submitted: 7/8/2010 6:43:36 PM : Start Price: $9.09 NHTB Score: +14.28

NHTB is the holding company for Lake Sunapee Bank (LSB), an operating subsidiary. Lake Sunapee Bank was founded in 1868 in Newport, NH and currently has approximately 27 retail locations located primarily in New Hampshire and Vermont. LSB is a small, steady bank with steady returns . According to Yahoo Finance, NHTB has been trading since at least March 1990 and has paid a regular dividend to shareholders ever since. Currently, NHTB is trading below book value with a P/B value of around .70 and roughly at tangible book value of $60M. Shareholder equity is 9.8% of total assets, EPS is $1.12, and the annual dividend of $.52 means that at today's closing price of $9.90/share, this stock has a 5.25% annual dividend yield. The dividend alone is reason enough to hold this stock. As of Q1 2010, the NPA as a % of total assets were under 1% and the loan loss reserve amount exceeds the NPA amount. This is a sign of conservative lending. NHTB/LSB is a strong bank, with a steady dividend and no analyst coverage. I am glad to add this small gem to my portfolio.