Out In The Country
By now, those who follow my articles will know that I am a big fan of small regional banks for several reasons. In addition to engaging in uncomplicated, easy to understand businesses, small banks provide an attractive value proposition for individual investors. Large institutions and funds often lack the ability to cover the sector, increasing the chance of a finding a cheaply priced and well performing company. Some community banks are also mutually held, and can undergo a special situation known as thrift conversion, offering investors a very attractive risk vs. reward situation. Finally, this sector has seen an enormous amount of M&A activity in the past two years.
For banks with a small deposit base...
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