We wrote an update on Allied First Bancorp in the Oddball Stocks Newsletter, Issue 33:
Banks' 2020 results have been rolling in the past few weeks, and the standouts in various categories tend to capture our attention. The highest ROEs we have seen, which happen to trade at big discounts to TBV too, are Allied and CIB Marine (CIBH). The cheapest bank to TBV, and one of the most overcapitalized, is Bank of Utica. Another observation is that OTC banks with the same or even better ROE, capitalization, NPAs, demand deposits, and buyback history trade far cheaper to TBV than banks that are NASDAQ listed.
OBN - AFBA - Issue 33 (January 2021) by Nate Tobik on Scribd
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