- Based in St. Petersburg, Florida, BNK operates from 28 banking centers and one loan production office on the West Coast of Florida and in Miami-Dade and Orange Counties.
- Near the top 1% of the fastest growing banks in the country as measured by asset growth.
- P/E is relatively high at 56, while the price-to-book is moderately attractive at 1.6.
- BNK, a Florida commercial bank with principal offices in St. Petersburg, Florida, plans to raise $50 million in its upcoming IPO.
- BNK has attained profitability, and the firm certainly has made impressive progress in terms of growing its assets and its deposits.
- BNK's efforts to expand via relatively low-cost acquisitions have already borne fruit.
- However, we suggest investors exercise caution with BNK, as the market could continue to be wary of banking-related stocks in the aftermath of the Great Recession.
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