Second of Catahoula's Five "Teenage" Banks Acquired

In November 2021, our guest writer Catahoula wrote a guest piece in the Oddball Stocks Newsletter entitled: Guest Piece: “Put Yourself in My Shoes” by “Catahoula” on Five Teenage OTC Banks. (That Issue #37 of the Newsletter is available à la carte.) He writes in with an update,

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In February, Peak Financial in Idaho (IDFB) got taken out. Last week, Integrated Financial Holdings (IFHI) announced a nice merger. MVBF is tech-forward and fintech-sensitive. It's an all-stock acquisition, so I might consider hanging around. IFHI built a nice platform for government guaranteed loans at West Town Bank. 

From my November 2021 article in Issue 37, there are three remaining teenage banks -- CFCX, USMT and CMRB. In 2Q22, CMRB's operating results continued to flag due to increased salary and bonus expenses. As "Ronbo" on Twitter summarized: 

All of the long-time holders (myself included) were unhappy about the deterioration in the operating results. I sold out my full position. As "Our Bank" on Twitter said: 

Although I no longer have a dog in this hunt, if CMRB can't find its footing, in my opinion it will be increasingly vulnerable to acquisition. The board owns ~20% and former CEO Herb Schnieder had 2.5% or so (the last proxy before he departed). As I mentioned in the article:

"When I look at the opportunity set among OTC banks, I identified five that have reached their second decade. I believe they are either set on a path to acquisition or a profitable long-term niche."

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Be sure to check out Issue 37 of the Oddball Stocks Newsletter and read Catahoula's piece on the three remaining "teenage" banks.