Question for the efficient market:
Does anybody know anything about the bank's(NASDAQ:INBK) nonperforming assets? It says that 4.5 out of the 4.9 million NPA consist of one bad asset,( ie two buildings adjacent to a University)
As stated in the 10K in the 10-Q:
"As of March 31, 2016 and December 31, 2015, the Company had one commercial property in other real estate owned with a carrying value of $4.5 million. This property consists of two buildings which are residential units adjacent to a university campus. Improvements to the property have been made in collaboration with the university and the property continues to be occupied."
Does anybody know anything about this $4.5 million asset?
Disclosure: I am/we are long INBK.