Seeking Alpha
  • Chris DeMuth Jr.
    Rangeley Capital discloses a 7.0% activist stake in $OSHC, a federally chartered S&L holding co: http://bit.ly/10SzGvG
    4/30/13
    Reply (8)
    • Wilson Wang: Trying to get the company to sell themselves for around 20 eh? GO CHRIS!
      4/30/13
    • Steven Reiman: OSHC's earning power could double once the FHLB advances start to mature starting in 2014...are you looking at any other small banks?
      5/12/13
    • Steven Reiman: Other than OBAF*
      5/12/13
    • Chris DeMuth Jr.: Those are two favorites. We also own Southern Connecticut Bancorp Inc. ($SSE-OLD) which is in the process of selling itself; little left in it.
      5/12/13
    • Steven Reiman: These little banks have horrible operating leverage right now - OSHC's fixed costs are 75% of total costs! Need to consolidate and scale up
      5/13/13
    • Chris DeMuth Jr.: Absolutely; I agree 100%. It is just not the right scale for a publicly traded company. It does not benefit the owners.
      5/13/13
    • Chris DeMuth Jr.: Fortunately, there are numerous buyers who would be happy to buy it and could pay an attractive premium.
      5/13/13
    • Chris DeMuth Jr.: Indeed.
      5/13/13