A Case of the Road Less Gravelled
I love this bank! Since coming public over 15 years ago, Community Bankshares of Indiana has grown nicely from a little $130M thrift to an $800M commercial bank with a diversified loan portfolio.
CBIN stock is cheap no matter how you look at it: price to book value, price to tangible book, or price to earnings. I would guess that a year from now, tangible book could reach $20 a share and we’re likely to see the stock trading for 120% of book or better, paving the way for a nice return if you buy it today.
Disclosure: As of this posting, I own shares of CBIN and may subsequently either dispose of them or purchase more.
Although CBIN is surely an attractive acquisition target, I believe it should stay independent as long as Management continues to deliver such stellar returns
MainSource Financial Group, Greensburg, IN (MSFG)
Old National Bancorp, Evansville, IL (ONB)
Republic Bancorp, Louisville, KY (RBCAA)
(as of 03/31/2013)
Gary L. Libs, Chairman
James D. Rickard, CEO and President
Paul A. Chrisco, Executive VP and CFO
I like these people! Although I don’t know them personally, I have a lot of confidence in CBIN's management team.