Added to YB: 2019-11-15
Pitch date: 2019-11-15
BFFI [bullish]
Ben Franklin Financial, Inc.
+4.87%
current return
Author Info
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Company Info
Ben Franklin Financial, Inc., a Maryland Corporation was formed in September 2014. Upon completion of the mutual to stock conversion of Ben Franklin Financial MHC in January 2015, Ben Franklin Financial, Inc.
Market Cap
N/A
Pitch Price
$9.85
Price Target
10.70 (+4%)
Dividend
N/A
EV/EBITDA
N/A
P/E
N/A
EV/Sales
N/A
Sector
Banks
Category
special_situation
Ben Franklin Financial: Tiny Bank Merger and Liquidation
BFFI: Ben Franklin Financial, tiny 2-branch Chicago suburb bank, completed 2015 mutual-to-stock conversion. Sub-scale at <$100M assets, loss-making. Activist Stilwell pushed for sale, unique deal with CAFCU credit union for $10.33-$10.70/share announced (trades $9.60-$9.80 now). Uncertainties: depositor treatment, employee plans, timing. Estimating 5/15/20 payout: 12-20% IRR, 6-10% gross return on $9.75. Paid for nano-cap illiquidity & payout uncertainty. Risks: deal break.
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