Comments I recently posted regarding Four Oaks Bank and it's viability going forward have been taken out of context by some. In no way were those comments to be taken as the bank, it's employees, and customers should have concerns about doing business there. Four Oaks Bank stock as I said likely is be pushed down currently due to tax selling season as some stockholders are taking capital losses for tax purposes. The bank actually has a book value of over $4 per share and I understand some shareholders are selling and buying back the shares after a 31 day wait period as required by SEC rules since they believe the stock is a good value currently. The bank continues to have more than adequate liquid assets and capital approaching one billion dollars to continue business as usual for the foreseeable future through what has been a difficult period for all banks. Four Oaks Bank is making continued progress to mitigate capital ratios and in fact has a Tier One ratio nearing 10% which is considered well capitalized for any bank. If I have in any way caused problems for the bank I apologize and urge customers to consider using their savings and checking services as well as taking out a loan there as I am considering doing myself.
I will be suspending posting on this blog for the time being.
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