OBA Financial Services Inc (OBAF) - NASDAQ
OBAF is defunct.
  • Sep. 13, 2013, 9:33 AM
    • It's another community bank deal with Simmons First (SFNC) winning bankruptcy court approval to buy Metropolitan National Bank from Rogers Bancshares for $53.6M in cash.
    • MNB has assets of $991M - including loans of $484M - and deposits of $862M. Total equity foots to $62M, with a Tier 1 leverage ratio of 6.46%.
    • Raymond James and Stephens both upgrade Simmons to Buy in lieu of what appears to be an accretive deal.
    • In other community bank M&A news, Larry Seidman ups the pressure (SEC form 13, go to Exhibit A at the end) on OBA Bank (OBAF) to put itself on the block. Seidman owns about 6.9% of the bank's stock.
    • OBA and Ocean Shore Holding (OSHC) are two tapped by SA author Chris DeMuth (OBAF here, OSHC here) as having takeout potential at a significant premium to their current prices following the end of a 3-year moratorium on their sales.
    | Sep. 13, 2013, 9:33 AM
Company Description
OBA Financial Services, Inc. is a bank holding Company of OBA Bank. It offers financial services to individuals, families, and businesses through six banking offices located in the Maryland counties of Montgomery, Anne Arundel, and Howard.
Sector: Financial
Industry: Regional - Mid-Atlantic Banks
Country: United States