tag:blogger.com,1999:blog-8448772781137071684.post979450532133190230..comments2024-03-26T10:02:02.339-11:00Comments on Timyan® Bank Alert: First Internet Bank, Indianapolis, IN (FIBP)Phil Timyanhttp://www.blogger.com/profile/10406944702623010051noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-8448772781137071684.post-10299848372815064642014-03-29T09:30:06.095-11:002014-03-29T09:30:06.095-11:00Buff- Thank you for your thoughts and comments. I ...Buff- Thank you for your thoughts and comments. I think it is a disgrace the way Sandler prices these secondaries 'in the hole' like they did here for INBK and previously with SMBC. They then give Sandler Management big chunks which create an overhang on the market.<br /><br />That said, I still like INBK. They've had a couple light quarters which have held the shares back as well but I think they'll do better and at some point the stock will deserve to trade at a decent premium to book value.<br /><br />They've said in the past that they are interested in acquisitions so I think anything is possible although of late they've been content to just hire away talent which I like. It's cheaper.<br /><br />As for IBBI, I have owned some for a couple of years. Your assessment is spot on. Cleaned up and cheap. I've always believed that if and when IBBI wanted to sell that Stock Yards Bank & Trust (S.Y. Bancorp) would be the buyer as their president James Hillebrand sits on the IBBI board and has an ownership stake at higher prices.<br /><br />Good luck and again, thanks for writing.<br />PhilPhil Timyanhttps://www.blogger.com/profile/10406944702623010051noreply@blogger.comtag:blogger.com,1999:blog-8448772781137071684.post-31358747917755619122014-01-23T13:25:28.137-11:002014-01-23T13:25:28.137-11:00A lot has changed in the past 12 months at First I...A lot has changed in the past 12 months at First Internet Bancorp. And I agree with you about the high quality of management as reflected in the design of the loan portfolio, which is much more balanced than BOFI. <br /><br />However, share value is off since INBK raised $29 million pushing share count from 2.9 to 4.4 million in late November. What is your opinion now? Who might INBK buy? Is IBBI a possibility? A one office Indianapolis bank with a cleaned-up balance sheet and about $60 million in assets selling at 60% BV. <br /><br />This point may not be of any interest to you, but the consistent high quality of written communication to customers/shareholders has always made a positive impression on me. A good thing since there is rarely any person-to-person contact.Buffhttps://www.blogger.com/profile/14669614468140806307noreply@blogger.com