Unconventional Capital Wisdom
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Greer Bancshares: You Get Much More Than You Pay For

What would you think if you saw a community bank with the following metrics?

  • ROAA of 2.27%
  • ROAE of 33.6%
  • Strengthening asset quality
  • 1/2 its market cap in a deferred tax asset
  • 20% of deposit market share in the city considered to have more international manufacturing investment per capita than any other community in the US
  • Board and management own >20% of the company
  • Trades at 80% of tangible book

Something must be seriously wrong with the bank, right? Well, you would think so, but Greer Bancshares (OTCPK:GRBS) has those metrics and has only a few negatives that will subside in the future. The market really overlooks the bank's profitability post crisis penalizing the bank for its size,...

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