CTBP: Cash/Stock merger; CTBP being acquired by Sierra Bancorp (NASDAQ: BSRR); for every 1 share of CTBP, shareholders have the right to receive a) $2.3145 in cash b) 0.1359 shares of BSRR or c) a mix of $0.5618 in cash & 0.1029 shares of BSRR; please see the acquiring company's SEC filings for more details (CIK: 0001130144)

FINRA deleted symbol:

http://otce.finra.org/DLDeletions

Sierra Bancorp Announces Agreement to Acquire Coast Bancorp of San Luis Obispo County (1/04/16)

PORTERVILLE, Calif., Jan. 4, 2016 /PRNewswire/ -- Sierra Bancorp (NASDAQ: BSRR), the holding company of Bank of the Sierra, announced the signing of a definitive agreement to acquire Coast Bancorp (OTC: CTBP) of San Luis Obispo County, California. Under the agreement the outstanding shares of Coast Bancorp will be entitled to receive aggregate consideration of $3.2 million in cash and 581,753 shares of Sierra Bancorp common stock. Coast Bancorp shareholders may elect to receive cash, Sierra Bancorp common stock or a combination of both, subject to proration. Based on the closing price of Sierra Bancorp common stock on January 4, 2016, the transaction would have a value of $13.8 million, or $2.37 per Coast Bancorp common share. However, the deal value will fluctuate with changes in Sierra Bancorp's stock price.

Bank President and Chief Executive Officer Kevin McPhaill said, "We are excited that the employees and customers of Coast National Bank will join the Bank of the Sierra family. Expansion to California's central coast presents an exciting growth opportunity for Bank of the Sierra. Similar to Coast National Bank, Bank of the Sierra is committed to providing outstanding service coupled with a commitment to improving the communities in which they serve."

Anita Robinson, President and Chief Executive Officer of Coast Bancorp and Coast National Bank, stated, "Bank of the Sierra is the appropriate fit to continue the commitment by Coast National Bank for the past 18 years in our communities. Our customers will have access to many more products and services together with the additional benefit of a larger lending limit; enabling us to meet all of the needs of our customers and our community. This transaction benefits our shareholders who have been steadfast during difficult times and rewards them with shares in BSRR, providing opportunity into the future." Ms. Robinson continued, "I am also excited to become part of the Bank of the Sierra team as the Market President for the San Luis Obispo area upon completion of the acquisition."

Sierra Bancorp expects the acquisition to be immediately accretive to earnings per share, and will yield a tangible book value earnback of less than 4 years and an IRR in excess of 20%.

McPhaill concluded, "This transaction is positive for our shareholders. The cash consideration allows us to leverage our existing capital and we believe this opportunity will enable us to further deploy capital via lending opportunities in San Luis Obispo and the surrounding communities."

The boards of Sierra Bancorp and Coast Bancorp unanimously approved the transaction, which is subject to customary conditions of closing including required regulatory approvals and the approval by the shareholders of Coast Bancorp.

Coast Bancorp is the parent of Coast National Bank. Sierra Bancorp is the parent of Bank of the Sierra. In the transaction Coast Bancorp will be merged into Sierra Bancorp, followed by the merger of Coast National Bank into Bank of the Sierra.

Advisors
Sierra Bancorp was advised in the transaction by Keefe, Bruyette & Woods, a Stifel Company, as financial advisor and King, Holmes, Paterno & Soriano, LLP as legal counsel. Coast Bancorp was advised in the transaction by FIG Partners, LLC, as financial advisor and Stuart | Moore as legal counsel. Coast Bancorp received a fairness opinion from the Vining Sparks Community Bank Advisory Group.

About Coast National Bank
Established in 1997, Coast National Bank is a local community bank serving the needs of consumers and businesses through three locations throughout San Luis Obispo County. As of September 30, 2015, the bank had approximately $146.4 million in assets and serves the communities of San Luis Obispo, Arroyo Grande, Paso Robles and Atascadero.

About Sierra Bancorp & Bank of the Sierra
Sierra Bancorp (NASDAQ: BSRR) is a publicly-traded company with approximately $1.7 billion in assets. Headquartered in Porterville, California, the company operates primarily through Bank of the Sierra (the Bank). The Bank is a multi-community financial institution that offers a full range of retail and commercial banking services, primarily in the central and southern sections of the San Joaquin Valley. The Bank specializes in agricultural lending and works with many of the businesses in that region. Since opening for business in January 1978, the Bank has grown to be the largest independent bank headquartered in the South San Joaquin Valley. More information about Sierra Bancorp and Bank of the Sierra can be found at the following websites:
www.sierrabancorp.com
www.bankofthesierra.com.

http://www.prnewswire.com/news-releases/sierra-bancorp-announces-agreement-to-acquire-coast-bancorp-of-san-luis-obispo-county-300199126.html

Chevy,
Nice to hear from you. Market has been kicking me around lately. I am usually early to the party, but with gold and oil I got here before the party planner. Just a waiting game but keep watching other stocks go up that I was thinking of buying. Any hot tips?

T

Marker:
Coast Bancorp (PC) (CTBP)
$1.45 0.0 (0.00%)
Volume: 0

*As of 6/30/2015 BV is .64 ...the bank is improving but with a P/B of 2.3 it remains over-priced.

http://www.snl.com/IRWebLinkX/reports.aspx?keyreport=-58&iid=4065986

Coast National Bank - Termination of Consent Order by Office of the Comptroller of the Currency

Date : 04/21/2014 @ 8:05PM
Source : Marketwired
Stock : Coast Bancorp (QB) (CTBP)
Quote : $2.10 0.0 (0.00%) @ 8:06AM

SAN LUIS OBISPO, CA--(Marketwired - Apr 21, 2014) - Coast National Bank, a wholly owned subsidiary of Coast Bancorp (OTCBB: CTBP), today announced it has received the official effective Order Terminating the Consent Order entered into by the bank's Board of Directors on February 9, 2011 and issued by the Comptroller of the Currency of the United States of America and terminated on April 9, 2014.

The official document states "the Comptroller believes the protection of the depositors; other customers and shareholders of the Bank, as well as the Bank's safe and sound operations do not require the continued existence of the Order." The Bank is subject to several continuing conditions imposed by the Comptroller in connection with the termination of the Order under an informal letter agreement.

[....]

http://ih.advfn.com/p.php?pid=nmona&article=61906032

*I'm not sure I understand this termination of the C O ...but ok.

Coast Bancorp Capital Offerings:

http://www.snl.com/IRWebLinkX/capitalofferings.aspx?iid=4065986

http://www.coastnationalbank.com/

Latest CTBP snap-shot on Banktracker:

http://banktracker.investigativereportingworkshop.org/banks/california/san-luis-obispo/coast-national-bank/

Coast National Bank Highlights: (or Lowlights depending on your point of view)

Total assets at December 31, 2013 were $120.0 million, or 6.9% higher compared to $112.2 million at December 31, 2012. Total deposits increased to $111.6 million or 6.7% at year-end 2013 compared to $104.7 million at year-end 2012. Net loans were $64.4 million, down 8.7% at December 31, 2013 compared to $70.6 million at December 31, 2012. The decline in loans reflects the aggressive work in the resolution of troubled loan assets. Non-performing assets were $2.4 million at December 31, 2013 compared to $3.6 million at December 31, 2012.

In the fourth quarter, the bank posted a reverse provision for loan losses of $1.2 million, which reduced the Allowance for Loan Losses from 3.76% of gross loans outstanding at September 30, 2013 to 2.45% at December 31, 2013. At this level, the Allowance for Loan Losses is adequate in light of the bank's low level of non-performing loans of $1.0 million compared to $1.9 million at December 31, 2012. Deposits ending December 31, 2013 increased from prior year by $7.1 million or 6.7%. Core deposits represent 93% of total deposits and demand deposits representing 36% of total deposits. The bank continues to drive a strong core
customer base together with low cost of deposits averaging .22%, reduced from .33% in 2012.

At December 31, 2013 the bank's Tier I leverage ratio was 6.8% compared to 5.2% one year ago. Its total risk-based capital ratio was 12.9% at December 31, 2013 compared to 11.5% at December 31, 2012. Although not in compliance with the Tier I leverage ratio of 9.0% requirement under its Consent Order, it is considered to be "Well Capitalized."

Coast Bancorp Highlights:

Coast Bancorp reported net profits of $806,000 or $0.95 per basic and diluted share for the year ended December 31, 2013 compared to a loss of $457,000 or $0.54 per basic and diluted share for 2012. Total stockholder's equity continues to reflect a deficit of $868,200, an improvement of 46% over 2012. Total consolidated assets were $120.3 million at December 31, 2013 compared to $112.5 million at December 31, 2012. Total consolidated liabilities of $121.1 million were centered in total deposits held in the bank of $111.6 million and Junior Subordinated Debt Securities of $7.2 million due in 2027, as well as Accrued and unpaid Dividends on these debt securities of $2.3 million which is due June 2014 in order to avoid a default.

The board of directors of the company continues to explore a capital raise. New capital will be utilized to satisfy thepayment of unpaid dividends on the debt securities due by June 2014. Additionally, a portion of the proceeds will be invested into the subsidiary bank to supplement current capital levels and bring the Tier 1 Leverage ratio in excess of 9.0%, in satisfaction of required capital levels by the regulator.

http://www.snl.com/IRWebLinkX/corporateprofile.aspx?iid=4065986

* I do not hold shares of CTBP at this time nor do I plan to anytime soon. I do however want to investigate the subordinated debt accrued & unpaid dividend situation.

Marker:
Coast Bancorp (QB) (CTBP)
$2.00 0.0 (0.00%)
Volume: 0

CTBP reports an end of 2013 profits of $1,000,000.
Up 1,123% from end of 2012

https://cdr.ffiec.gov/Public/ViewFacsimileDirect.aspx?ds=call&idType=fdiccert&id=34381&date=12312013

They had a good qtr ...and that's great news...but it's still over-priced.

Does that mean it will never be worth investing in? No. But you won't find large institutional buyers touching this until book value is positive and earnings are normalized & sustained. Right now none of that exists.

if you like it...buy it. I'll watch from the sideline. The thing is jjo1fam there are other banks with outstanding earnings selling at a discount to book value... and over time they will outperform this bank and you'll have liquidity.

It's worth watching ...and their story is improving nicely...that's where it ends for me as of 6/2013.

Check this out Chevy

First Intercontinental Bank (GA)
770-451-7200
2008 1st Quarter
1. Equity Prior 23,556,000
2. Equity Ending 23,835,000
$279,000
PPS $12.00
Direct Link to CALL report: https://cdr.ffiec.gov/Public/ViewFacsimileDirect.aspx?ds=call&idType=fdiccert&id=34998&date=03312008
2009 1st Quarter
1. Equity Prior 24,707,000
2. Equity Ending 31,186,000
$6,479,000 (CPP TARP, US Treasury)
PPS $3.75
Direct Link to CALL report: https://cdr.ffiec.gov/Public/ViewFacsimileDirect.aspx?ds=call&idType=fdic345cert&id=34998&date=03312009
2010 1st Quarter
1. Equity Prior 30,668,000
2. Equity Ending 30,490,000
(-$178,000)
PPS $4.00
Direct Link to CALL report: https://cdr.ffiec.gov/Public/ViewFacsimileDirect.aspx?ds=call&idType=fdiccert&id=34998&date=03312009


2011 1st Quarter
1. Equity Prior 30,420,000
2. Equity Ending 30,497,000
$77,000
PPS $4.00
Direct Link to CALL report: https://cdr.ffiec.gov/Public/ViewFacsimileDirect.aspx?ds=call&idType=fdiccert&id=34998&date=03312011

2012 1st Quarter
1. Equity Prior 30,869,000
2. Equity Ending 30,934,000
$65,000
PPS $2.00
Direct Link to CALL report: https://cdr.ffiec.gov/Public/ViewFacsimileDirect.aspx?ds=call&idType=fdiccert&id=34998&date=03312012


2013 1st Quarter
1. Equity Prior 32,039,000
2. Equity Ending 32,535,000
$496,000 Up 763% from prior
Current PPS $4.00
Direct Link to CALL report: https://cdr.ffiec.gov/Public/ViewFacsimileDirect.aspx?ds=call&idType=fdiccert&id=34998&date=03312013

CCP TARP bailout in 2009

http://www.treasury.gov/initiatives/financial-stability/TARP-Programs/bank-investment-programs/cap/Contracts%20and%20Agreements/First%20Intercontinental%20%20Bank.pdf

Capital Purchase Program (CCP) (TARP)
Terms of the Purchase:
Series of Preferred Stock Purchased: Fixed Rate Non-Cumulative Perpetual Preferred Stock,
Series A
Per Share Liquidation Preference of Preferred Stock: $1,000
Number of Shares of Preferred Stock Purchased: 6,398
Dividend Payment Dates on the Preferred Stock: February 15, May 15, August 15 and
November 15 of each year
Series of Warrant Preferred Stock: Fixed Rate Non-Cumulative Perpetual Preferred Stock,
Series B
Number of Warrant Shares: 320
Number of Net Warrant Shares (after net settlement): 320
Exercise Price of the Warrant: $ 1.00 per share
Purchase Price: $6,398,000

IMPORTANT NOTE: The balance on the CCP has NOT been repaid. Company has also not paid a dividend on the Preferred Stock purchase since May of 2011. This is NON-Cumulative stock purchase so they don’t actually owe anything for past dividends. As far as I have been able to find is that they currently have a net outstanding balance of $5.64M.


Even with the net outstanding balance amount taken from the current equity balance, would leave the bank with over $3M more than 2008 when it was $12 PPS and 1st quarter profits 178% higher.
Source:
http://projects.propublica.org/bailout/entities/195-first-intercontinental-ban
Bank Capitalization
Capitalization Date: February 28, 2009
Common Stock
Par value: $5.00 per share
Total Authorized: 10,000,000
Outstanding: 2,908,828
Subject to warrants, options, convertible
securities, etc.: 0
Reserved for benefit plans and other
Issuances: 242,230
Remaining authorized but unissued: 6,848,642
Shares issued after Capitalization Date
(Other than pursuant to warrants,
Options, convertible securities, etc.
As set forth above):
Preferred Stock
Par value: $ 1.00 per share
Total Authorized: 10,000,000
Outstanding (by series): 0
Reserved for issuance: 0
Remaining authorized but unissued: 10,000,000
Previous Offer in Sept 2008 for $22.27 per fully diluted share
http://mobile.wnd.com/markets/news/read/3223973/center_financial_signs_definitive_agreement_to_acquire_atlanta
Offer Cancelled by FIEB
http://investor.centerbank.com/phoenix.zhtml?c=66991&p=irol-newsArticle_pf&ID=1123453&highlight=
FIEB VS Central Financial Corp.
http://dockets.justia.com/docket/georgia/gandce/1:2008cv01323/150437/
Central Financial Corp. Settles Out of Court
http://investor.centerbank.com/phoenix.zhtml?c=66991&p=RssLanding_pf&cat=news&id=1237336

SAN LUIS OBISPO, CA -- (Marketwired) -- 05/02/13 -- Coast National Bank, a wholly owned subsidiary of Coast Bancorp (CTBP.OB) (OTCBB: CTBP) today reported net income of $366,181 for the quarter ended March 31, 2013, up 278% percent from ($205,860) loss for the quarter ended March 31, 2012.

"During the first quarter of 2013, the bank continued its positive progress in its turnaround efforts building further upon a profitable 4th quarter of 2012 and positive earnings report for 2012 Year end.

"The success of our Small Business Lending focus is a significant contributor to the profitability of the bank right now as we continue to rebuild and strive to accomplish our strategic objectives," said President and Chief Executive Officer Anita M. Robinson.

"Our customer loyalty and the support from our community has been a tremendous influence in our ability to accomplish significant positive progress in the past year. A strong core customer base and recognizing the greater need for the small banks in our community has provided fuel for our team."

First Quarter 2013 Highlights:
(Quarter ending March 31, 2013 compared to March 31, 2012)

Total Assets - Total Assets at March 31, 2013, totaled $114.7 Million, as compared to $130.5 Million on March 31, 2012. This is primarily due to the sale of the bank's Morro Bay branch office to Heritage Oaks Bank which closed in December 2012. The sale represented sale of deposits and Real Property with some limited fixed assets. This resulted in a net decline in Total Assets of $15.8 Million or 12% year over year.

Liquidity - The bank continues to be very liquid with over $35.0 Million in Cash and Liquid Assets at March 31, 2013 as compared to $30.0 Million as of March 2012.

Net Loans - Net Loans at first quarter 2013 ended at $64.8 Million as compared to $83.1 Million at the same period of 2012. This reflects the aggressive work in the resolution of troubled loan assets and the resultant reduction in problem loans. The bank is now poised to grow the portfolio through healthy lending and underwriting practices, yet continue to demonstrate its expertise in lending to the small business sector.

Total Deposits - Total Deposits declined year over year from $123.2 Million to $106.1 Million or 14%. This decline reflects the sale of $27.0 Million in Deposits for the Morro Bay Office in December 2012. Deposits actually increased during the year as the net change for March 31, 2013 was $(17.0) Million. The most significant portion of the reduction was in Time Certificates of Deposits. This contributed to the savings in the bank's cost of funds.

Net Interest Income - Net Interest Income has declined by $78,014 from prior year or 7%. This is a direct result of the loan portfolio decline in net loans outstanding (reduction in volume) as compared to negative impact from rates. As the bank is focused on ongoing loan growth, this decline should be stemmed and turn to growth.

Interest Income from Loans reflected a decline year over year of $118,685 or (10%), which was partially offset by reduced Interest Expense of $51,045 or (43%). This demonstrates the ongoing management of the bank's cost of funds.

Net Income - Net Income at three months ending March 31, 2013 was $366,181 improved from ($205,860) at March 31, 2012 or 278%. This is largely due to the non-interest income derived from the gain on sale of S.B.A. guaranteed loans of $572,871, compared to $67,761 in first quarter 2012, an increase of $505,110 or 745% over prior year.

Additionally, non-interest expense reduced year over year to $1,493,022 from $1,615,104 at March 31, 2012. This represents an 8% reduction in non-interest expense, after realizing some ongoing expense related to the sale of the Morro Bay branch office in December 2012.

Capital - Coast National Bank continued to improve the bank's Capital ratios through increased Profitability and the reduction in Total Assets (Sale of branch). While the bank is still not in compliance with the Minimum Regulatory Capital level of 9.0% under its Consent Order, it is considered to be "Well Capitalized". Management and the board of directors have developed a capital plan which will bring the bank into compliance in this area.



Regulatory Minimum
Capital to be Coast National Coast National
considered "Well Bank Bank
Capitalized" March 31, 2012 March 31, 2013
Total Risk-Based
Capital Ratio 10.00% 9.92% 12.65%
Tier 1 Risk-Based
Capital Ratio 6.00% 8.63% 11.36%
Tier 1 Leverage Capital
Ratio 5.00% 5.25% 6.83%


Credit Quality - The risk profile of the bank's credit portfolio has improved dramatically over the past year. A focused effort to return the portfolio to a level of low - moderate risk was imperative. This was accomplished as demonstrated by the metrics outlined below:



March 31, 2012 March 31, 2013
-------------- --------------
'000' '000'

Classified Loans/Capital 128.46% 54.23%

Non-Performing Assets $4,848. $2,731.

Other Real Estate Owned (OREO) $1,863. $1,456.

Classified Loans + OREO/Capital 151.84% 68.06%

Net Charge Offs/Net Loans .42% .05%

Loan Loss Reserve Coverage/Net Loans 4.38% 4.55%

Loan to Deposit ratio 64% 66%

Texas Ratio 45.85% 25.93%


Additional News - The bank opened a loan production office in Atascadero in February 2013. This "Business Banking Center" will focus on Small Business Lending and loan production for the North County. It is staffed by existing lenders and management team covering the north county. The new location is located in the Adobe Plaza Center at 7315 El Camino Real, Atascadero. This office location also has an ATM and Night Depository on site for convenience.

Established in 1997, Coast National Bank is an independent locally owned commercial bank serving consumers and businesses through four local offices serving San Luis Obispo County. With a focus on delivering quality customer service, Coast National Bank provides small business loans and an array of business and personal banking deposit products and other services. For further information, visit www.coastnationalbank.com or call 805.541.0400.

Coast National Bank is an equal housing lender and member FDIC.

Statements concerning future performance, developments or events, expectations for growth, income forecasts, sales activity for collateral, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to the ongoing financial crisis in the United States and the markets in which Coast National Bank operates, and the response of the federal and state government and our regulators thereto, continued growth, Coast National Bank's beliefs as to the adequacy of its existing and anticipated allowances for loan losses, beliefs and expectations regarding actions that may be taken by regulatory authorities having oversight of Coast National Bank's operations, interest rates and financial policies of the United States government, continued weakness in the real estate markets within which we operate and general economic conditions. If any of these risks or uncertainties materializes or if any of the assumptions underlying such forward-looking statements proves to be incorrect, Coast Bancorp's results could differ materially from those expressed in, implied or projected by such forward-looking statements. Coast National Bank assumes no obligation to update such forward-looking statements.

Contact:
Anita Robinson
Coast National Bank
Phone: (805) 547-6135
Fax: (805) 781-3182
500 Marsh Street
San Luis Obispo, CA 93401
Email Contact

1st quarter profits up 421%
According to 1st quarter call report, Coast National Bank profits are up 421% compared to the entire year of 2012. With 2012 being the 1st year of being profitable since 2008.
Can check the call reports yourself at cdr.ffiec.gov/public/

Consolidated Reports of Condition and Income for A Bank With
Domestic Offices Only - FFIEC 041

Institution Name COAST NATIONAL BANK
City SAN LUIS OBISPO
State CA
Zip Code 93401
Call Report Quarter End Date 12/31/2012
Report Type 041
RSSD-ID 2579069
FDIC Certificate Number 34381
OCC Charter Number 23222
ABA Routing Number 122242526
Last updated on 1/30/2013

Schedule RC-R - Regulatory Capital

31. Tier 1 leverage ratio - 0.064722 %
32. Tier 1 risk-based capital ratio - 0.101748 %
33. Total risk-based capital ratio - 0.114623 %

62. Total risk-weighted assets - 70,989

https://cdr.ffiec.gov/public/ManageFacsimiles.aspx

*This bank is considered well capitalized.

Threshold Ratios

1 = Total Risk-based Capital ratio
2 = Tier 1 Risk-based Capital ratio
3 = Common Equity Tier 1 Risk-based Capital ratio
4 = Tier 1 Leverage ratio


TO BE CONSIDERED -

Well capitalized
1 - 10%
2 - 8%
3 - 6.5%
4 - 5%

Adequately capitalized
1 - 8%
2 - 6%
3 - 4.5%
4 - 4%

Undercapitalized
1 - < 8%
2 - < 6%
3 - < 4.5%
4 -<4%

Significantly undercapitalized
1 - < 6%
2 - < 4%
3 - < 3%
4 - <3%

Critically undercapitalized
Tangible Equity/Total Assets</= 2%

http://www.fdic.gov/news/news/financial/2012/fil12025.html

Reversing the deferred tax assets could be used in 2013 which would be another plus for the bank going forward.

In comparison to Heritage Oak, (competition)

for 2012 the gross for the year was $13,003,000 with a share volume of 25,310,000 making the profit $0.55 a share.
With the bank equity at $148,461,000 and current market cap at $147,030,000, the bank is trading at 99% equity.

Coast National Bank for 2012 had a profit of $87,000 with a market share of 711,200 making the profit $0.12 a share.
With the bank equity at $7,245,000 and market cap at
$1,210,000, the bank is trading at 16.7% of equity.

If CTBP was to actually trade at the same as the competition, then share price should be around $10.00 pps.

Makes me believe this is undervalued.

I found all these numbers from the CALL report on the FDIC website.
You can search each bank and download the report yourself at

https://cdr.ffiec.gov/public/ManageFacsimiles.aspx

Call Report was released today.
CTBP was profitable for the year ending 2012.
1st time in 6 years.
Can check it on the FDIC website.

Waiting for 4th qtr results. I expect it to be the first financial report for quite some time that the bank actually logs a profit. We'll see.

Coast National Bank Selling Morro Bay Branch Office and Related Deposits to Heritage Oaks Bank

Coast National Bank Retains Three Locations While Preparing for Future Growth

Date : 10/01/2012 @ 12:22PM
Source : MarketWire
Stock : Coast Bancorp (QB) (CTBP)
Quote : $1.35 0.0 (0.00%) @ 9:30AM

SAN LUIS OBISPO, CA--(Marketwire - Oct 1, 2012) - San Luis Obispo-based Coast National Bank, the wholly owned subsidiary of Coast Bancorp ( OTCQB : CTBP ), today announced that it entered into a definitive agreement for the sale of Coast National Bank's Morro Bay branch location to Heritage Oaks Bank. The transaction includes the sale of approximately $30 million in deposit accounts at the Morro Bay branch together with the fixed assets and real estate. Heritage Oaks Bank will pay market value for the building and the physical assets, and a blended deposit premium of 2.2% for the deposits which includes approximately 35.5% non-interest bearing demand deposits. No loans will be transferred in connection with the sale of the branch.

Anita Robinson, President and CEO of Coast National Bank, said that Coast conducted a process to ensure it was receiving the best price possible for this branch sale. Heritage Oaks Bank's bid was the best one of several received by Coast. Robinson, who became President and CEO of Coast in late January of this year, said that after careful consideration the Board made a decision that selling the Morro Bay branch and focusing operations on Coast's three remaining locations was in the best interest of the Bank and its shareholders. Ms. Robinson stated, "This sale helps strengthen the Bank financially by both increasing Coast's capital ratios and further reducing the Bank's operating expenses, which in turn will help increase its profitability."

Robinson said timing and opportunity created an ideal circumstance for Heritage Oaks Bank to acquire the Morro Bay location. "Coast National Bank has been focused on its rebound from the economic problems of the last few years. This transaction will make a great contribution to the positive progress underway."

[....]

http://finance.yahoo.com/news/coast-national-bank-selling-morro-162226762.html

*I have No investment interest at this time...but the bank is certainly worth watching.

A quick review of the bank from 30,000 feet tells me Coast Bancorp fits the same under capitalized situation many small banks do but the new CEO Anita Robinson appears to be taking the right corrective steps. This bank did not participate in the 08/09 TARP program which is a plus going forward.

Before the sale of the Morro Bay branch office the bank had $142 Million in Assets and only $7 Million in Captial.

In March of 2011 the bank was put under (and remains under) a Consent Order agreement with the regulators. The Bank has agreed, among other matters, to: (1) Achieve and maintain a Tier 1 capital ratio of 9% of adjusted total assets and a total risk based capital ratio of 12%; (2) Maintain an adequate Allowance for Loan and Lease Losses; (3) Ensure implementation and adherence to a written commercial real estate concentration program; (4) Revise the comprehensive liquidity risk management program. (5) Prepare and implement three year strategic and capital plans; (6) Ensure effective management; (7) Adopt and implement policies to improve the Bank's loan policy management and reduce the level of credit risk in its loan portfolio; and (8) Cure credit, collateral and appraisal exceptions.

[....]

http://www.reuters.com/article/2011/03/21/idUS223051+21-Mar-2011+MW20110321

Here is a quick visual graph:

http://banktracker.investigativereportingworkshop.org/banks/california/san-luis-obispo/coast-national-bank/

The sale of The Morro bay branch happened after this latest workshop graph.

strong accumulated shares !

Mesa

what's going on droping....

pick up some cheap shares...

mesa

CTBP overcome the 2008---2011 Mortagage Loan problem ......it will fly over historical pps after recapitalization of the Bank.

Potential $35/pps in the future (846000 common shares)outstanding !

MCLEAN, Va., May 8, 2012 /PRNewswire/ -- Freddie Mac (FMCC.OB) released the results of its first quarter refinance analysis showing homeowners who refinance continue to strengthen their fiscal house.

News Facts
•In the first quarter of 2012, 79 percent of homeowners who refinanced their first-lien home mortgage either maintained about the same loan amount or lowered their principal balance by paying-in additional money at the closing table. Of these borrowers, 58 percent maintained about the same loan amount, and 21 percent of refinancing homeowners reduced their principal balance; the share of borrowers that kept about the same loan amount was the highest in the 26-year history of the analysis.
•"Cash-out" borrowers, those that increased their loan balance by at least five percent, represented 21 percent of all refinance loans; the weighted average cash-out share during the 1985 to 2008 period was 50 percent.
•The median interest rate reduction for a 30-year fixed-rate mortgage was about 1.5 percentage points, or a savings of about 27 percent in interest rate, the largest percent reduction recorded in the 27 years of analysis. Over the first year of the refinance loan life, the median borrower will save about $2,900 in interest payments on a $200,000 loan.
•The net dollars of home equity converted to cash as part of a refinance, adjusted for inflation, was at the lowest level in nearly 17 years (since the third quarter of 1995). In the first quarter, an estimated $5.3 billion in net home equity was cashed out during the refinance of conventional prime-credit home mortgages, down from $7.0 billion in the fourth quarter and substantially less than during the peak cash-out refinance volume of $83.7 billion during the second quarter of 2006.
•Among the refinanced loans in Freddie Mac's analysis, the median prior loan life was 4.3 years. One-half of the loans that were paid-off had been in place from between three and seven years, that is, had been originated between 2005 and 2009.

Quotes

Attributed to Frank Nothaft, Freddie Mac vice president and chief economist:
•"The typical borrower who refinanced reduced their interest rate by about 1.5 percentage points. On a $200,000 loan, that translates into saving about $2,900 in interest during the next 12 months. Fixed-rate mortgage rates hit new lows during March, with 30-year product averaging 3.95 percent and 15-year averaging 3.20 percent that month, according to our Primary Mortgage Market Survey®.
•"The enhancements to HARP announced in October, such as removing the maximum loan-to-value limit, are beginning to show up in additional refinance volume during the first quarter. HARP loans were 20 percent of Freddie Mac's refinance fundings during the first quarter, the highest share since HARP's inception."

Get the latest information from Freddie Mac's Office of the Chief Economist on Twitter:@FreddieMac

Got E-mail from CEO Anita:

On Mon, 5/7/12, Anita Robinson <arobinson@coastnationalbank.com> wrote:


From: Anita Robinson <arobinson@coastnationalbank.com>
Subject: Shareholder Communications
To: "missionary168@yahoo.com" <missionary168@yahoo.com>
Cc: "Jim Kaney" <jkaney@coastnationalbank.com>
Date: Monday, May 7, 2012, 9:47 PM


Hello Mr. Mesa:



As you know, I am the new CEO of Coast National Bank and Coast Bancorp. Mr. Kaney forwarded your communication to me and I thought I would briefly address a couple of your points or requests.



Yes, we have not been proactive in the communication with our shareholders in recent times. I am working on a communication as we speak which I hope to be out in the next week, depending on the ability of the securities holders (street name) to get them out timely.



We will be upgrading our website to include more information, but that will not likely be until 3rd quarter.



Our annual shareholder’s meeting will be later this year, to allow us more time to prepare a thorough report to the investors. With my short time with the bank, we felt it would be better timing to have the meeting in September instead of June.



Most of our shareholders are local to the county of San Luis Obispo and a little more familiar with the bank activities. As our shares become more broadly owned, it will be important for the board and management to commit to a more frequent communication with the investors. I am curious how you became an investor of Coast and how you heard about us.



As to a strategy to compete with” Mission”, there are of course many. But at this time we are most focused on removal of the regulatory consent order and raising additional capital. As you know, there are many competing community banks in the market and it is prudent to be in a position to compete with all of them.



I do appreciate your questions and comments and you are welcome to contact either myself or Mr. Kaney if you should have any further questions. Thank you for your continued support of the bank and we look forward to some promising years to come.



Sincerely,



Anita M. Robinson

Chief Executive Officer

Coast National Bank

500 Marsh Street

San Luis Obispo, CA 93401

(805) 547-6135 Direct #

(805) 781-3182 Fax #

(805) 550-6962 Cell#

arobinson@coastnationalbank.com

- COAST NATIONAL BANK EMAIL DISCLAIMER -

This email, and any files transmitted with It are confidential and intended solely for the use of the individual or entity to which they are addressed. If you have received this email in error, please notify the Information Technology Department. Please note that any views or opinions presented in this email are solely those of the author and do not necessarily represent those of Coast National Bank. Finally, the recipient should check this email and any attachments for the presence of viruses. Coast National Bank accepts no liability for any damage caused by any virus transmitted by this email.

It's not a quick bucks but a long term investment great income from CTBP!

This is all I'm going to post that backs up my opinion that the pps is very undervalued where it stands and the new 10-Q should be even better.

That's why I am holding, it doesn't matter how others trade, this undervalue stock will run very very fast than we thought !

GO CTBP GO

Mesa

COAST NATIONAL BANK RECEIVES
OUTSTANDING
CRA RATING FROM REGULATORS

SAN LUIS OBISPO, CA April 30, 2012 - Coast National Bank is proud to announce its OUTSTANDING rating in the Community Reinvestment Act (CRA) from the Office of the Comptroller of the Currency (OCC). The CRA Rating was given based on the Bank’s exceptional reinvestment practices within its community, San Luis Obispo County. The Bank has participated in numerous community development projects, non-profit organization grant programs and other community services including low-income housing and economic development projects.

Chief Executive Officer, Anita Robinson, stated, “Executive Vice President, Community Development Manager, Charlie Fruit, demonstrated a significant leadership role in the Bank’s community development efforts. We are very excited about this recognition.” The bank staff volunteered their time and expertise as additional contribution and to make a difference in the community. Through participation in the Federal Home Loan Bank of San Francisco’s (FHLB) Affordable Housing Program (AHP) and Access to Housing and Economic Assistance for Development (AHEAD), the bank facilitated the awarding of more the $1.0 million in grant funds to local community development organizations. Funding these grants is a very time-consuming and resource-driven process. The diligent efforts of the Coast National Bank Team benefited the community and furthered its growth and development
.
Established in 1997, Coast National Bank is a local, community, commercial bank serving consumers and businesses through four local offices serving San Luis Obispo County. With a focus on delivering unsurpassed customer service, Coast National Bank provides small business loans and an array of business and personal banking deposit products and other services. For further information, visit www.coastnationalbank.com or call 805.541.0400. Coast National Bank is an equal housing lender and member FDIC
https://www.coastnationalbank.com/new/main.html ........News released from CTBP website
----------------------------------------------------------------------------------------------------

We believe Coast National Bank is a healthy Bank and about to have net profit dividend for shareholders..............

We are looking forward to updating website "investors information" ...

We are looking forward to hearing the good news releasing out from 10Q report.....

Buy out or going to "private" company?

$30/pps common share value !

Mesa

Coast national bank has new CEO & new business strategy !

We would see annual profit to contribute shareholders!

After CTBP pay dividend again (since 2007 shareholders did not get any dividend), share price will pop -up back to $20---$30/pps (10 years CTBP keep outstanding shares= 846000 sharers)

***Accumulation of shares !

GO CTBP GO

Mesa

I believe pps will keep droping off if CTBP no news , no 10Q releasing out.........

Back to under $1/pps and strong buy !


Mesa

Buy out possibility !....IMO

Coast National Bank owners getting old and they may prefer to sell it's bank to Mission Bancorp in the same area....

Or Bank of America, Chase Bank to buy it out.....

Outstanding shares 846000 shares

Buy out $20/pps =16.92 million make a deal.....it is very reasonable..........

GO CTBP GO

MESA

Anita Robinson CEO is the key of explosion for business and common shares pps...

Her experience & aggressive strategies that leads Coast Bancorp fly to the moon....

See you guys at higher $10/pps....

float shares 670000 shares and most of shares holding in insiders.....

We may see dividend soon...

Great opportunity to buy cheap shares.....

I will hold 20 years plus.....

I forsee $45/pps in the near future after dividend out every year(Qouter)...

Like I hold BAC(Bank of America)
I believe CTBP profit more than BAC in our investment.

GO CTBP GO

MESA

Market Cap $2 million only (outstanding 846000 shares only)!!!
It's very undervalue here !

Coast National Bank & it's holding company worth more than $40 million net assets !!.........

We would see x20 ($2 x 20= $40/pps) potential for CTBP shareholders !

I believe after profit annual income post in dividend for shareholder in 2 years........We expect $40/pps---$50/pps history new record coming

GO CTBP GO

MESA

Break out $5/pps in couple weeks......

We are heading up to $10/pps in 2012

Go CTBP GO

Mesa

CTBP 10Q expectation:

2013 10Q showed profit and dividend.......under new CEO aggressive strategy in Coast National Bank.......We would see $30/pps again for CTBP

The outstanding shares is too tiny size (846000 shares)

It may buy out or split shares for extending business.

I believe CTBP will be "great" in the near future !!!

GO CTBP GO

Mesa

Coast Bancorp officer tells me :

1)Website will be add the investors information & update all Q report soon.

2)New CEO Robinson she is experiencing and will lead Coast National Bank profitable.

3)Coast Bancorp may extend more branches in the future...


When we see Q report with great number......may dividend in 2 years...

pps will be over $20/pps again!!

MESA

Coast Bancorp officer tells me :

1)Website will be add the investors information & update all Q report soon.

2)New CEO Robinson she is experiencing and will lead Coast National Bank profitable.

3)Coast Bancorp may extend more branches in the future...


When we see Q report with great number......may dividend in 2 years...

pps will be over $20/pps again!!

MESA

Next Q report: if it is profitable ,we would see $10/pps---$20/pps

GO CTBP GO

Mesa

Target $15/pps running up in 2012

Today 42% gain

GO CTBP GO

See you at $15/pps with $0.25/pps dividend this year !!!

MESA/ Missionary

I Contacted with Coast National Bank officer: JAMES KANEY

James M. Kaney, CPA, MBA

Director of Finance, EVP

Coast National Bank

Direct: 805-547-6123

Fax: 805-781-3180

He is so friendly e-mail me the Q report & told me the New CEO & board member have the new aggressive plan in Coast Bancorp.

First of all, will update all files report & releasing PR news...........including website add investors information.......including CTBK update pps and all news report.

It's great for all investors & new potential investors

RE: Coast BancorpThursday, April 26, 2012 9:28 PM
From: "Jim Kaney" <jkaney@coastnationalbank.com>Add sender to ContactsTo: "Michelle Davice" <missionary168@yahoo.com>Cc: "Karan Pohl" <kpohl@coastnationalbank.com>Message contains attachments1 File (539KB)

Mesa, Pleasure talking to you.

Attached is the most up to date Call Report for the Bank; it is not inclusive of Coast Bancorp.

This is public information that is published each quarter.

The banking sector has been a challenging sector of our economy.

I will forward the Call Report for the quarter ending 3/31/2012, next week.



Thanks for your inquiry and we appreciate your comments.



Jim



James M. Kaney, CPA, MBA

Director of Finance, EVP

Coast National Bank

Direct: 805-547-6123

Fax: 805-781-3180

CTBP holding company subsidiary Coast National Bank located in the central California as a community local bank. It owns four branches walking service banking centers in four major small town area.

JP Morgan Chase Bank, Bank of America no branches service in those area.............Coast National Bank buy out posibility potential (Bank owners getting old)

Outstanding shares 846000 shares.

If buy out bid $15/per share , there is only $12.69 million cost for Chase Bank or BOA!!!.........It's very "cheap" !!!!

2012 Q report: CTBP assets $132 million and liability $124 million (under economic reccession 2006---2010).......but still keep in healthy business.

We are looking forward to the new CEO Robinson(from Mission Bank)to organize a strong management Team..........then can be standing up to the glory history era again.

CTBP has strong balance sheet, Booking value =$2.58/pps

http://finance.yahoo.com/echarts?s=CTBP.OB+Interactive#symbol=ctbp.ob;range=my;compare=;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;

Historical chart (2004---2012) showed : history lowest $0.49/pps(April 16th, 2012)----history highest $36/pps(Nov. 27th, 2006)

Year high:$3/pps

Outstanding shares: 846000 shares
Float shares: 606877 shares

Market Cap:$1.3 million........undervalue

New CEO Robinson will update all SEC file & shareholders relationship in the website.

New PR releasing out next week !

I believe CTBP reasonable pps will be $5/pps----$10/pps under super low outstanding shares.

New CEO future plans will be released out , update for shareholders soon!

GO CTBP GO

Mesa/Missionary

CTBP Quartly Report:.......12/31/2011

Coast_34381_123111.PDF


Asking CTBP update news report or Quartly report :

Contact person:

James M. Kaney, CPA, MBA

Director of Finance, EVP

Coast National Bank

Direct: 805-547-6123

Fax: 805-781-3180

CTBP huge gain 169%......

Why???

New CEO, New strategy of the Coast National Bank ???

Net profit going back to 2005---2007
PPs will run to $25/pps

Super low Outstanding shares: 846000 shares only.

We may see split shares (it may 10:1 split), OR buy out news out ???



MESA

4/25/2012 run up pps 18.18% ($0.65/pps).........Nice "green" start running up....

ccumulation !

Target $25/pps(annual dividend $0.25/pps) before Christmas of 2014

Mesa/ missionary

Potential for holding CTBP common shares:

***This is a small, healthy banks in California (located in traveling, sightseeing area cities)

1)Historical low pps recently

2)Potential buy out(Estimated $30/pps)....846000 outstanding shares.

3)super low outstanding shares (potential expends business & split common shares)

4)Potential pps going up $28/pps(historical high) after net profit to pay out dividends

GO CTBP GO

MESA/Missionary