Dallas Salazar
IPOs, contrarian, long/short equity, long-term horizon

C1 Financial: Excellent Risk Management, Defensive Positioning To Rising Rates, And Innovation Make This An IPO To Own

I first heard about C1 Financial (NYSE:BNK) in early 2012 when the bank, which had just changed its name and was looking to make a splash regionally, ran a promotion where it gave any personal depositor willing to invest $1 million into a five year CD a brand new Mercedes-Benz. Only I'm not in C1's region, not even close, and I didn't hear about the promotion from a local mailer, a radio advertisement, or word of mouth. I read about it on the front page of Yahoo.com and then proceeded to watch the CEO explain the promotion on Fox News a short time later. The intended purpose of the promotion - you know, to gather eyeballs and ears...

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