Two Bargains in Banking Stocks

We may be approaching the bottom of the market for financials, as mortgage players such as IndyMac Bank (IMB Quote) expect problem loans to peak in late 2008.

While it may be a bit early, this is a good time to start looking for bargain bank stocks that could produce stellar returns for patient investors once the recovery begins.

Back in September, TheStreet.com Ratings looked at the bank and S&L stock components of the S&P 500, 400 MidCap and 600 SmallCap indices, and narrowed the group down to five that were attractive based on several criteria, including a price-to-book ratio below two. ...