@CorpusCol @dirtcheapbanks Agreed. And 15 page annual report printed on card stock.
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Nate Tobik
11.9K posts
Nate Tobik
@oddballstocks
Founder: https://t.co/UXoGe2tovO Author: The Bank Investor's Handbook (https://t.co/ppjLxcEGUP)
Pittsburgh, PA Katılım Nisan 2010
501 Takip Edilen11.8K Takipçiler
@dirtcheapbanks BS. Those are the ones with a 4 page proxy.
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I spent my Saturday morning reading a 127-page proxy statement for a $15M market cap bank in rural Iowa. The CEO made $180k last year and owns a boat dealership on the side. This is what peak due diligence looks like.
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@shortbus_ace @shidellian But it does answer the question why they have remained small. It’s hard to grow if you don’t understand your customers.
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@shidellian The CEO of a bank doesn’t understand why people have NIBs… you can make this up
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@commbankerguy The problem has never been creating products it is sales. 99.9% of software developers couldn’t sell a dollar bill to a banker for $.50.
The ability to do any of this has always existed. It’s that biz people have realized it.
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I hope all software developers realize how much small business needs you now. All of these tech advances are moving so fast, it’s hard to keep up with all the noise. The country needs you now! It’s your moment to help people manage their businesses faster and more efficiently to survive.
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@commbankerguy I’m sure they’ll make it up on volume…just like SNL’s Change Bank
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This guy nails it on Opendoor. They are going to lose so much money on this.
Daniel Lewis@danielsethlewis
$OPEN. @dangreenoh @nejatian you cannot sell a mortgage at a zero gain-on-sale margin and call it "AI magic." This is more unserious stock pumper nonsense Mortgage packaged as a loss leader to drive platform volume — fine. But call it what it is: A SUBSIDY. Your post ignores: 1/ CAC — Even with captive buyers, there's acquisition cost embedded in the home sale economics. 2/ Warehouse lines — SOFR + spread on every funded loan until it's sold. 3/ Cost to place — Hedge costs, servicing release premiums, MBS execution friction. None of this is fully automatable. 4/ Regulatory compliance — TRID, RESPA, ECOA, state licensing, QC, post-closing audits. Regulators don't care about your tech stack. 5/ Third-party costs — Appraisals, title, flood certs, tax transcripts, VOE. Software doesn't fix this. 6/ Corporate Overhead — Paying guys like, you! Pay for performance, but that ain't free -- and it's very, very real.
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@Schornack BTW, have met a ton of your employees at conferences. Seems like a nice crew.
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@Schornack Give it a shot. I run a software company, have been offered the ability to run a bank and turned it down. Software is significantly better.
If you can bootstrap you will have a reasonable cost structure and can charge accordingly. Big four and VC backed firms are predatory.
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The thing I just can’t shake is how much can we build internally vs how much do you need to build with partners in the age of AI? How do I invest in structuring a team to build within the bank because we know vendors are capturing margin with poor services in the interim.
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If anyone has a recommendation for a community banker licensed to make loans, specifically commercial construction, in Georgia, would appreciate it greatly.
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@dirtcheapbanks ROI is significantly less than if you buy first day of the IPO.
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The most overlooked trade in America:
Find a mutual savings bank. Open an account with $1,000. Wait.
When they convert to a stock company, which they announce publicly, you get the right to buy IPO shares before anyone else. At the IPO price.
Guaranteed allocation.
These IPOs historically pop 20-30% in year one. Your deposit is FDIC insured the entire time you wait.
It is not a scam. It is not a loophole. It is just how the law works and has worked for 30 years.
Low downside, incredible upside.
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@dirtcheapbanks Most would prefer to have a war chest just-in-case.
Buying back stock does nothing for them. It’s just a number on paper, worthless to a local biz. Whereas having cash gives them options.
Better to push for cash dividends. Real money in people’s pockets. Usually locals
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I think there needs to be a course for guys running small banks.
Lesson one: If your stock is trading materially below tangible book value, you buy back stock.
Lesson two: refer back to lesson one.
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@nnzp1730 Laurel Mountain. On the same ridge as Seven Springs but better terrain, more of an “Alta” vibe.
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@Noremax59 Either nothing burger or some plain as day fraud with a 150m mcap that no one has ever heard of before.
Really hard to go 2/2 on this stuff.
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@RussianBear With all direct flights it doesn’t make sense. Your approach is superior.
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@RussianBear I travel a few times a month, similar for employees. Bar/restaurant visits add up quick vs lounge access for the company. It’s a nice perk for employees..free drinks.
It’s also possible to work in a lounge on a layover vs a bar or gate.
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@R1Jack Self control is in short supply these days. It’s trendy to say “giving up X is bad” vs having self control over X.
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@R1Jack Sounds so awful. Having a drink with dinner doesn’t screw anything up.
What I finally realized about the “no drinking” pundits is they consider a six pack a night normal. Of course you’d feel better after giving that up.
How much is this guy drinking if his sleep is wrecked?
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