A Case of Winning On One's Own in Winona
Looks to me like all Merchants Bank Management needs is to be left alone to keep doing what they do! Given the historical rate of this bank's earnings, I can see MFGI book value exceeding $50 by 2015 and the stock trading at $60. That makes today’s shares at $32.50 an irresistible bargain, and this stock a winner for me.
Disclosure: As of this posting, I own shares of MFGI and may subsequently either dispose of them or purchase more.
Although I'd prefer to see Merchants Bank remain independent, the bank's impressive footprint so close to Minneapolis has got to be appealing to one of these Twin City heavyweights:
TCF Financial, Wayzata, MN (TCB)
US Bancorp, Minneapolis, MN (USB)
Wells Fargo, San Francisco, CA (WFC)
(as of 09/30/2013)
Richard L. Mahoney, President and CEO
Rodney R. Nelson, Executive VP
Susan M. Savat, Senior VP and CFO
Let me count the ways I love this bank!