9. Bought 50 Porter Bancorp, Inc (PBIB) at $14.10 (See Disclaimer): Porter Bancorp is a holding company for PBI Bank, which operates in Kentucky, primarily in the Louisville metropolitan area. The bank has 19 branches. This bank will be place in Category 2 of the Regional Bank Stocks' stratagem.
Earnings per share increased to 46 cents in the third quarter of 2009, compared to 47 cents in the year ago quarter. Earnings for the first nine months of 2009 were $1.08 versus $1.34 from a comparable period in 2008. The consensus estimate for 2009 is currently $1.51, and $1.91 for 2010. PBIB: Analyst Estimates for Porter Bancorp, Inc.
The dividend yield at my cost is close to 5.6% at the current annual penny rate of 80 cents. PBIB Stock Quote The bank also paid a 5% stock dividend in November 2009./www.sec.gov ex991.htm The current quarterly dividend rate is 20 cents per share.
The following table shows the ratios of Tier 1 capital and total capital to risk-adjusted assets and the leverage ratios for Porter Bancorp, Inc. and PBI Bank at the dates indicated:
|September 30, 2009||December 31, 2008|
Tier I capital
Total risk-based capital
Tier I leverage ratio
All of the capital ratios are as of 12/31/2009. TIER 1 leverage capital ratio was 11.7%. Well capitalized is 5%. TIER 1 risk based capital ratio was 17.9%. Well capitalized is 6%.Total risk based capital ratio was 19.9%. Well capitalized is 10%. Book value was $14.37 per share up from 12.58 as the end of Q/E 9/09.