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  • Bank Of America Continues To Be Dead Money In 2016- Sell Ahead Of Earnings  [View article]
    Hold your breath for this:


    In a largely symbolic move, the Chicago Teachers Union closed its Bank of America account Wednesday and urged others not to keep funds with an institution the union argues has contributed to Chicago Public Schools’ dire financial state.

    “We are demanding that Bank of America act as a good corporate citizen and deal fairly with our schools and city, and most importantly, we encourage supporters of public education to take the same action at this bank and other banks profiting from the toxic interest rate swaps,” said Michael Brunson, CTU’s recording secretary, as he stood outside the Bank of America branch at 135 S. LaSalle in the Loop.


    BAC is the perfect target as a breakup candidate. And in the long run, the banking industry and investors would benefit most.
    Feb 4, 2016. 08:53 AM | Likes Like |Link to Comment
  • Financials punished as markets drop, rates plunge  [View news story]
    not this model: INBK
    Feb 2, 2016. 02:09 PM | Likes Like |Link to Comment
  • First Internet Bancorp: Still Growing And Raising Capital  [View article]
    I appreciate your analysis and forecast, and your active response to readers of your INBK articles. Your estimates are a big help. And as you say, no one should depend solely on prediction. So I find an equal amount of value in enquiring into the nature of a business, business history, success record of management etc. And I like the idea of small banks, and their important roll in our economy. Federal and state bank regulation and financial reporting requirements are another plus.

    Your financial estimates may well be influenced by the same close look at each individual bank your interested in.

    I'm not ignoring your estimates. But I'd rather not get overly enthralled.
    Feb 1, 2016. 01:51 PM | Likes Like |Link to Comment
  • First Internet Bancorp: Still Growing And Raising Capital  [View article]
    There is only one or two analysts paying any attention to INBK, and one of those is Sandler O'Neill, who helps banks and thrifts on capital raisings and transactions, including INBK during the fourth quarter of 2013. Sandler O'Neill has had a buy rating on INBK since then.

    S-O is a well run organization. I own shares in the parent SF. But they are from the "sell side" of the business.
    Feb 1, 2016. 09:33 AM | Likes Like |Link to Comment
  • Uber Wins The Crowd  [View article]
    Don't forget this simple fact -- Drivers make all the difference to the success or failure of Uber.
    Feb 1, 2016. 09:19 AM | 2 Likes Like |Link to Comment
  • First Internet Bancorp: Still Growing And Raising Capital  [View article]
    With only one analyst estimate, I wouldn't bet on either year being accurate.
    Jan 31, 2016. 11:58 PM | Likes Like |Link to Comment
  • Uber Wins The Crowd  [View article]
    $62.5 billion is pure hot air.

    "Uber has a strong vetting/interview process" when screening drivers.

    More BS. There is no driver interview whatsoever. This author is mistaken.

    Uber driver/rider mobile technology is rudimentary at best.

    Uber acts more robotic than human.

    Management lacks knowhow.
    Jan 31, 2016. 06:33 PM | 5 Likes Like |Link to Comment
  • First Internet Bancorp: Still Growing And Raising Capital  [View article]
    I think the $3.10/share earnings forecast at 12/31/17 is a long shot and 57% above $1.98 in 2015. Are you expecting US current economic expansion will continue for the next 23 months?
    Jan 31, 2016. 11:18 AM | Likes Like |Link to Comment
  • First Internet Bancorp: Still Growing And Raising Capital  [View article]
    The next phase of loan growth will require INBK to raise more bank equity capital, and the sooner the better. A healthy ATM type offering would require the share price to be significantly above tangible book value. Not sure how realistic that is at the present. Current tangible book value is $22.24.
    Jan 25, 2016. 09:53 AM | 1 Like Like |Link to Comment
  • Uber cuts prices in price war with Lyft  [View news story]
    Cheap and commonplace driver/rider matching technology does seem to be a likely possibility.

    A system of bid and ask between driver and rider would be an added innovation. A smarter app would be able to accurately estimate the driver's cost to the rider pickup point as well as the cost to the rider destination. The benefits would work for both parties without need of Uber.
    Jan 23, 2016. 05:11 PM | 2 Likes Like |Link to Comment
  • Uber cuts prices in price war with Lyft  [View news story]
    After steady work beginning in 1967, I retired at 12/31/15. I signed up to drive for Uber on 1/1/16. In my case, documentation proof of insurance, license registration, car inspection, background check took about 5 days. Since my first trip on 1/6/16, I've completed 50 trips as of yesterday. One or two days after I started, Uber cut fares 25%, but Uber compensates drivers somewhat by paying a flat rate per hour while the drivers are on their app. Flat rates vary depending what times drivers choose to operate, and reaching a minimum number of trips within the compensation hours. In my case either $10, $15, $20 per hour. $20 hour is between 11 PM to 3 AM hauling boozy riders home from partying. Payment direct to my bank each week. Uber gets 25% cut. I have collected limited data regarding my full costs over the 50 trips. I think the averages will begin to smooth out after 100 trips. But I have a gut feeling my after tax profit is about half of what I get paid each week. Normal gas price of $2.75 per gallon would limit the number of drivers on the road. Recent rate cut to increase ridership is capitalizing on extremely low fuel cost savings, which would otherwise add to driver profit. In 50 trips, my cut of the largest fare was $21.90; lowest $1.80. Recent rate cuts encourage demand for short hop trips, since it's cheaper for riders to call Uber than to drive their personal vehicle. Uber discourages drivers from taking tips. Interaction with Uber is either chat or SMS or email. No verbal or personal contact with anyone. Actual GPS technology in locating and delivering rider is clunky at best. Link up between rider and driver is where most of the tech improvement is needed. Most of the people are younger than me. Most are polite and interesting. Front seat riders are the best. Long trips to the airport are easy and profitable. Stupid of people to think Uber is worth $65 billion. F and GM market cap is roughly $45 billion. Drivers hold the key to Uber success.
    Jan 23, 2016. 12:15 PM | 2 Likes Like |Link to Comment
  • First Internet Bancorp: Still Growing And Raising Capital  [View article]
    This is from Fidelity

    Q1 2016
    Expected Report Date 04/23/16
    Consensus Estimate EPS
    (2 Analysts) $0.50
    Estimate Low/High Range $0.47 / $0.52
    INBK earnings have hit expectations for the past six quarters, but the trend for the most recent three quarters is nearly flat.

    Yesterday I noticed mortgage interest rate ad at INBK site offering 3.666% at 30 year fixed, which is lower than before the fed raised rates in December.

    Is INBK evolving more toward a commercial bank than a mortgage bank because loan duration is shorter and spread is greater?

    39 percent of total loans are single tenant leasing. And construction loans are fastest growing type loan. Could it be INBK developed a method to package single tenant leasing and construction lending to the same borrower?
    Jan 22, 2016. 02:29 PM | Likes Like |Link to Comment
  • First Internet Bancorp: Still Growing And Raising Capital  [View article]
    INBK has been pushing itself as fast and as far as possible given increasing government regulation. The $10 million in subordinated debt is Tier 2 type and adds to the cushion that the law requires. The strategic importance is borrowing $10 million allowed the bank to continue to keep the rapid pace of growth. The $100 million shelf registration indicates confidence in INBK's bankers, and the fact that they foresee places to put the money to work. Even I can see their plan being executed, and I don't know anything about banking.

    Interesting to research Single Tenant Leasing as to it's purpose and how it is structured.
    Jan 21, 2016. 06:25 PM | Likes Like |Link to Comment
  • First Internet Bancorp: Still Growing And Raising Capital  [View article]
    On it's own, Commercial loan type Single Tenant Lease Financing is now larger than the total of all Consumer loans including Residential mortgage and Home equity types.

    Also interesting to note the fastest growing loan type is Commercial Construction loans.

    INBK mangement is lending into what they view as the best opportunity to grow the least risky, highest performing assets of the bank.
    Jan 21, 2016. 05:50 PM | Likes Like |Link to Comment
  • Kinder Morgan: What's The Worst That Could Happen?  [View article]
    twisted little git
    Jan 21, 2016. 07:20 AM | 2 Likes Like |Link to Comment