Here’s an interesting snippet about increased stock activity Monday at two regional banks from BizJournals.com:
At the Bellingham-based bank holding company for Horizon Bank, more than four times the normal trading volume was reported, with nearly 160,000 shares trading hands Monday, compared with average volume of only 37,500. Shares in Horizon Financial Corp. (NASDAQ: HRZB) shot up nearly 35 percent Monday, rising 24 cents to close at 93 cents.
At Banner Corp. of Walla Walla, the parent company of Banner Bank (NASDAQ: BANR), nearly 700,000 shares were traded Monday, compared with an average day of only 175,000. Shares in Banner rose more than 15 percent in Monday trading, rising 49 cents to close at $3.72.
So far this morning, both banks are also seeing high trade volumes, with both up significantly. As of 9:30 a.m., Horiozn was up over $1, while Banner Bank was closing in on $4. Any thoughts about what’s happening?
HORIZON BANK NEEDS A MINIMUM OF 10 MILLION DOLLARS OF ADDITIONAL CAPITAL OR THERE IS THE POSSIBILITY OF IT BEING TAKEN OVER BY THE FDIC . THERE IS A NOV 2009 DEADLINE.
WITH SUCH SHORT TIME HORIZON IS NOT COMMUNICATING WITH ITS SHAREHOLDERS OF ITS INTENTIONS OTHER THEN MAYBE SELLING OUT TO ANOTHER BANK . WHICH OF COURSE WILL BE A FIRE SALE. MAYBE THE PEOPLE WHO AUTHORIZED THE INVESTMENTS AND LOANS WHO GOT THE BANK IN SUCH TROUBLE CAN DIG IN THEIR POCKETS TO RECAPITALIZE THE BANK . CALLS FROM SHAREHOLDERS TO THE PRESIDENT GO UNANSWERED. HOPEFULLY YOU CAN GET MORE INFORMATION. LONG TERM PEOPLE WHO INVESTED THEIR LIVE SAVINGS INTO THE BANK DESERVE TO KNOW. OTHER PEOPLE MAYBE BAILING OUT OF THE STOCK AND OTHERS ON THE KNOW BUYING BECAUSE THEY KNOW WHATS GOING ON OR PEOPLE ARE GAMBLING THAT THE FDIC WILL NOT TAKE OVER THE BANK.