5. California Oaks State Bank
Shares of California Oaks State Bank (COSB) of Thousand Oaks closed at $11.20 Tuesday, rising 54% since TARP began, although they were up 93% year-to-date, as the bank's board of directors agreed in August to sell the institution to California United Bank (CUNB) of Encino for $17.3 million in cash and stock, which was slightly more than California Oaks State Bank's book value.Shareholders of both banks approved the deal on December 9 after receiving regulatory approval in November. The deal is expected to close by the end of the year. Income Statement California Oaks State Bank lost $149 thousand during the third quarter, with high noninterest expenses keeping the institution from turning a profit. The bank's third-quarter net interest margin was a healthy 4.52% according to SNL Financial, increasing from 4.28% a year earlier. Balance Sheet California Oaks is by far the smallest institution among this group of 10 banks, with total assets of$137 million as of September 30. The NPA ratio was 1.96% and the third-quarter net charge-off ratio was 0.59%. The bank exited TARP on December 8, repaying the U.S. Treasury $3.3 million, and was well-capitalized, with a Tier 1 leverage ratio of 12.08% and a total risk-based capital ratio of 17.04% as of September 30. Stock Ratios The shares trade for 1.3 times tangible book value according to SNL Financial.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV