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April: The Bancorp Short Thesis
Merchants (MBIN), Esquire (ESQ), Bank private equity are our friends, merger discounts, Granite Point Mortgage (GPMT)
Mar 25
•
Sam Haskell
6
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April: The Bancorp Short Thesis
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11
Mid March: The Rarity of the "Isolated Credit Issue"
What Now for NYCB? Credit at TBBK, MYFW and SSBI; Dogwood State Bank, FCNCB
Mar 11
•
Sam Haskell
15
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Mid March: The Rarity of the "Isolated Credit Issue"
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9
February 2024
March: Why Capital One is Doing This
The return potential from BANC's preferred; AI and banks
Feb 29
•
Sam Haskell
12
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March: Why Capital One is Doing This
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9
Mid February: The Regional Bank Existential Question
NYCB's ace, Primis' gain, bank directors getting sued, is Ares worth it?
Feb 15
•
Sam Haskell
11
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Mid February: The Regional Bank Existential Question
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6
Addendum to Friday's Note: Answering The NYCB Questions
Hello again, I kept the New York Community commentary short on Friday because it’s much easier to find gold where nobody else is prospecting than in…
Feb 4
•
Sam Haskell
21
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6
February: Bank investing and the election
Branch light banks - how CUBI manages it vs others, the wisdom of buying agencies, BAFN's BOLT program, The issue at OTCM
Feb 2
•
Sam Haskell
6
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February: Bank investing and the election
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8
January 2024
Mid January: Conversion targets, a recent 50x,
Also Interactive Brokers, the expert market, and rent-stabilized loans
Jan 17
•
Sam Haskell
16
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Mid January: Conversion targets, a recent 50x,
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8
January: A latent catalyst re-emerges
Blue Ridge (BRBS), lessons from a microcap outperformer, broker activism
Jan 5
•
Sam Haskell
12
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January: A latent catalyst re-emerges
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2
December 2023
Mid December: The banks trading under 6x earnings
Good morning, I’ve included some “brief notes” about the updraft in bank shares before discussing some valuation- and corporate governance-heavy topics…
Dec 14, 2023
•
Sam Haskell
4
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Mid December: The banks trading under 6x earnings
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7
November 2023
December: The Banc of California merger
and the banks in its wake. The bull case for 2024. How apartment issues are trickling to banks, 10yr winners, Classified assets, the minority bank…
Nov 29, 2023
•
Sam Haskell
8
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December: The Banc of California merger
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3
Mid month: It's the forced selling
Looking at the deepest discounted banks, the bizarre story of Industry Bancshares, MCB vs CUBI, Repurchases
Nov 14, 2023
•
Sam Haskell
10
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Mid month: It's the forced selling
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6
October 2023
November
Valuations vs 4Q 2008, Bank failure screens, Northeast Bank, Eagle Bank extensions
Oct 30, 2023
•
Sam Haskell
18
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November
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