From time to time, I get asked whether or not we still like Bank of Utica (BKUT, BKUTK). Well...
The non-voting shares (OTCPK:BKUTK) last traded $419.00.
Tangible book value (not including unrealized gains on held-to-maturity securities) is $621.76.
Tangible common equity to assets is over 17%. (!!!!!!)
Non-performing assets and loans 90-days past due, as a % of assets, are 0.45%. (!!!!!!!!)
In addition to trading for only 0.67x tangible book, being massively overcapitalized, and having very few non-performing loans as a % of its asset base, the stock trades for 8x earnings per share, and the dividend has increased every year since 1994.
So, yes, we still like Bank of Utica very much.