This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

10 TARP Banks with Big Returns

5. California Oaks State Bank

Company Profile

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.

7 of 11

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
C $53.07 0.00%
BAC $15.56 0.00%
FITB $18.90 0.00%
OZRK $39.70 0.00%
RF $9.59 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs