CIB Marine Bancshares Inc (QX) (CIBH)

I agree and I'm keeping my shares for years to come (until CIBM sends me a check and says "here you go, we're going private"), but a steady, little community bank isn't AI or chips or something producing big returns, so while the share price is going to increase, I don't see much to get the masses interested until something that rhymes with "mividend" starts happening.

Easy money to be made in my opinion.  It’s very apparent that the market makers are repositioning them for the next leg up.  Not much for sale.  I snagged a couple more shares today.  We will soon be, and remain in the low forties third quarter.  $40.89 was reached today……

I trust Chaffin and the board. TEN person board for a company this size is ridiculous.
$3.5 million on a buyback is great. I would like to see what a $1 special dividend would have done for the price. Might have just been a very short-term spike, but would generate some interest and more people would see the tangible book value.
Good presentation:
https://www.otcmarkets.com/file/company/financial-report/558564/content

Get them before they're gone! Check my math, but I think the float will be down to about 9 shares after this latest share buyback approval.

Sounds like you have the makings of a couple of good questions you could throw at them at the annual meeting in a couple of weeks.

Yes. Weird to me, but a good thing. After this long, I would rather have a dividend, but I do trust J. Brian Chaffin. Although I do NOT need the expanded board. I think that is a waste of money.

So that’s a good thing, right?

CIBH

Apologies for being dense but I don’t understand your second sentence. Who exactly is the we?

Remember the tier 1 leverage ratio/"adequately capitalized" days? And the people with the preferreds who were high and mighty (and irritating as hell)? Now it's "we're going to own all of our own shares and potentially make a ton of money selling them at a price we feel is fair."

https://finance.yahoo.com/markets/stocks/articles/cib-marine-bancshares-inc-announces-094500519.html

I like the liquidity that comes with being listed.  I remember when you had to get on a list to buy/sell shares.  That’s how I got my first 500 shares in 1998.  The first letter I got was “dear shareholder” we have to restate our earnings for the past 5 years due to “irregularities”……..or something like that.  Then they suddenly became toxic to all…….

Costs of staying public would be saved is about it. Not insignificant, but a smaller board would save some money, too.
OT says 272 shareholders of 100 shares or more. Not sure where they get that and it's not updated very often. Maybe try the transfer agent?

https://www.otcmarkets.com/stock/CIBH/security

What would be the benefit of taking it private?  I own 24,600 shares that put me at about 1.84 percent of the shares now.  I would like to know how many shareholders there are, and the total shares held.  Is that public somewhere?

By "sale", I also mean possibly taken private. The float is so low, it's becoming more illiquid, so it's almost easier to delist and possibly allow all shareholders to remain or sell their shares to the company. Everything seems headed in the right direction, though, so I'm good with Chaffin's plan. WOULD like to see a dividend. Did they stop doing PRs or are my feeds just garbage? I do think 10 member board is on the large side for a company of this size.

Achievements & Initiatives
With the ongoing recovery in our net interest margin (“NIM”), our banking segment improved its core
income by $0.9 million over the prior year, excluding tax, credit for (reversal of) credit losses, and the gain
on our 2024 sale lease-back transaction. In addition, our Mortgage Division increased its income by $0.2
million despite continued challenges in the mortgage market. Together, these results reflect meaningful
progress in strengthening our core earnings and support our mission to enhance shareholder value, a mission
we are further advancing through our common stock repurchase plan. During 2025, we purchased 36,383
shares, representing roughly 3% of outstanding shares, for $1.3 million at an average price of $34.29. The
plan has $1.2 million remaining for continued purchases in 2026.
It’s worth noting that our 2024 final redemption of preferred stock, including the Series B convertible
shares, together with our 2025 common stock repurchases, had a significant positive impact on our tangible
book value. Assuming conversion of the Series B shares to common stock, tangible book value increased
from $41.14 at December 31, 2023, to $60.95 at December 31, 2025, or a 48% increase. Over that same
period the price of our CIBH common stock on the OTCQX improved from $21.10 to $37.26 per share, or
approximately 77%.

30 days early…….

Dividend.  Definitely under accumulation.  Not for sale.  Why would anyone want it sold at this point?  Significant gains have been made over the last 10 years for the shareholders.  If my other investment would have remained where is was 5 years ago, I would have retired……..

Haven't seen 40 in a while. Must be that buyback money burning a hole in their pocket.
Dividend or buyout first?

2026 should be better.  Interest rates will be lower, economy will be on the move again. Continuation of the share buyback will continue.  There were not a lot of shares for sale at up to $40.00. Hopefully we will crack that next level of resistance by Q2.  I managed to purchase about 1k more in another account for someone.  We shall see where it goes in 2026....

Not amazing earnings. Not horrible. Float continues to disappear and book value is over $60. Eventually going to take it private or sell it. How many shareholders can there possibly be at this point?

Yes, but in order to make any money, I would have to sell shares.  What good is having 23,172 shares of a company if you have to sell shares to get any capital back?  I appreciate and love the buyback don't get me wrong, but a nice quarterly check would also be something I would enjoy.

Maybe I am missing something but wouldn’t you pay taxes on any dividend? Wouldn’t you rather have increases in your unrealized and untaxed gains?

I would hope once the remaining shares are purchased by the end of the year, there would be a possibility of a dividend.  I would like to see some cash returned via a dividend because that way we could get a return on our investment without selling any shares with a huge capital gain liability......we shall see!

Stock price has remained too low for too long. That is my definition of dead money. As stated, however, I trust Chaffin's judgment. I would like CIBH to continue to be a good investment. And it needs to be a good investment for people buying at the current level, not just for those of us who bought a boatload at .12 (pre-split).

Define dead money......we (the commons) have managed to keep our original investment, head off an attempted hostile takeover by the preferred, and managed to buy back all the preferred shares.  This has been an amazing journey over the last 27 years for me.  It's up 1500 percent from the 2010 days when I started accumulating the commons again.  I have only sold some to meet a margin call or two.  I'm sure there would be buyers if I let go my shares now.  I'm going to give the team another couple years.  CNB was just absorbed by HBT.  MCB keeps bullying up locations.  I'm sure there would be a buyer out there, but why now?  

Chaffin just needs to line up some investors and take the thing private. The shares have no liquidity as it is because of the low float and continuing to buy back shares, just lowers the float even more. I think a dividend might have done more for interest, but I also trust Chaffin's judgment. CIBH has been dead money for too long now. Hopefully this additional buyback will get enough shares off the market to sustain the price at $45+.

The biggest thing is that this no longer has those preferred shares weighing it down. That was a huge milestone almost a year ago now... Shouldn't be much holding this down to achieve somewhere around $50 a share except simply interest in the ticker itself. The stock repurchase program should help and eventually they may add a dividend here... that may boost the interest and give the stock a little pop. I guess we'll see. It's been a nice run since the recent jump from the Teens.

Yeah, would really like to see it get nearer to BV, ~$57?

13 market makers on the buy side for a stock that trades this few of shares?  Come on man!!  Holding its own at this level.....time is on our side.....

I still think the MM's are just trading amongs themselves.  NITE and Monroe are back ion the the bid.  They haven't been up there for a while.  Regardless, nothing has changed to make me want to sell......it's actually making me want to add to my position.  If those were all "buys", we would be over 40.

Somebody decided it was time to sell. I wonder if the company bought any of those. that's monster volume for CIBH.

Market Makers have about 3500 shares listed for sale in an attempt to free up some shares for purchase.  Nobody in their right mind would be selling at this point.  Look at the chart......once we breach 38, not much for sale after that.  We have hit a brick wall for a little bit, but this is just another way for the market makers to scare what little retail holders have into selling.  In order to make money, the market makers have to actually trade something.  That will be soon in my opinion.

I grabbed another 100 today.  I hate competing against a share repurchase program, but hey, we all know where it's going long term......

They are going even bigger on the share buyback!
That's news. The float is already microscopic. Easy to take private at $50 or $60.

This pullback is jut the MM's scaring up some cheap shares for the next leg up.  Keep driving it down......I'll snag some again......

It will be over $40.00 in less than 3 months.  If you watch the MM's, they are slowly working it up.  There is a ton of market makers here now.  I currently hold 23,045 shares (345,675 pre-reverse split).  $ 806,805.00 is a lot to have invested for me.  Not taking anything off the table.....we are just getting going.  It would be hard to turn down $60/70 a share.  It will get there in my opinion.  Hopefully wa can continue to take some shares off the table with some profit when we get some debts taken care of due to the retirement of the preferred shares.  I trust the directors to make the best decisions, I don't see them selling myself......when mortgage rates start to decline in the near future, refinancing will pave the way to new growth.....

I think Clutterbuck got paid and moved on to their next deal. Probably being a pain in the ass to some other unsuspecting company.
CIBH's float is just ridiculously low. Share buyback will only make it lower. I'd love to know their strategy on buying. I agree, this will be $40+ in the relatively near future. Buyout? $50/sh? $60/sh? More? Seems like a pretty inexpensive acquisition for someone. Easy to take it private.

Well that didn't take long.......it seems like those average purchases were a bargain now.  I just snagged some more myself.  The inventory from the market makers seems to be rolling over higher and higher.  Selling between themselves, and purchasing has moved it higher.  With the upcoming legislation hopefully passing soon, this will light a fire under the market and we will quickly approach $40 in my opinion.  That's a far cry from the 2002 share price.  Where's that Clutterbuck guy hiding at?😜

Because people weren't selling and the market makers were able to free up the loose shares.  This means to me that the shares out there are held by people like me that know it's way to undervalued right now.  Inventory is tight and it probably won't take much more purchasing to hit $35 or so when some purchases resume.  Market Makers do not care about price,  They only care about the spread as you know......

How the hell do they average $31.65 on the share buyback so far? Seems like they are shooting themselves in the foot.

67 cent one time special dividend would have been nice, but probably better for the long term to lower the float since they are trading at half of book. At what point do they take it private? If there is no market for the shares, no sense in staying public. Of course, they could always purchase exactly zero shares.

Share repurchase!
$1 million doesn't sound like much, but when the float is so tiny, it makes a difference.

https://www.globenewswire.com/news-release/2025/02/04/3020072/0/en/CIB-Marine-Bancshares-Inc-Announces-Common-Stock-Repurchase-Plan.html

I still have 22,150 shares still. I do hope we start seeing a small dividend......even if it's a penny.  Just to say we are paying dividends, It would be nice to get some return without having to sell stock to get money out......just my opinion.  

Q4 could have been better, but for the year, I can't find much to complain about except the share price being so low. However, now that the albatross of the preferreds is gone, I think shareholders are going to see some dividends in the relatively near future. OS is 1.5 million. Not a lot of owners of this place. XM Rocks, are you still holding a decent percentage of that OS?

Insider ownership was outlined in last year’s shareholder presentation that was covered at the annual meeting. Insider, Director, and Executive team ownership was over 13% at that time.

Would be nice to see some insiders buy some shares here... but this crew in charge hasn't ever purchased any. The last time any insiders ever bought shares was way back when Chuck Ponicki was in charge. That was pre-RS, when this was trading below $1. Those were the days...

They definitely need to grow their pile of capital a bit before they think about dividends... but I would imagine that should be a goal here. Unless the goal is to actually get absorbed by some larger entity or a merger with another small community bank... then the dividend doesn't really make much sense to me. I guess we'll see.

Whoops. Sorry if it came across that way. I just meant that that is one simple scenario for share price appreciation. A buyback would be nice, but unless they want to go private, there aren't many shares to play with. I'm not opposed to the company going private, I just don't think that's the game plan. One thing is certain, getting rid of the preferreds opens up a ton of possibilities and I only see price appreciation from here until it hits a reasonable value.

Where did you see the insider buying activity at? I haven’t looked into that recently….

Nice! Should see appreciation from here.
Tangible book value up to $57.80. Board is going to believe shareholders deserve at LEAST that. I can't believe a share buyback would happen given the float, but at some point, it is simply prudent. They will make moves to get the share price up. Even if that is just by continuing to run the business profitably and insiders making purchases at a 50+% discount, currently.

Still here. I still have 22300 shares……been holding and waiting for this day for a long time. No preferred. Fantastic event. Who would have that the COMMON shares would be the surviving owners…….