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Fidelity Bank (New Orleans) stock offering
Posted on 8/27/24 at 7:57 pm
Posted on 8/27/24 at 7:57 pm
I received a mailing today that since I have accounts with Fidelity Bank (New Orleans), I can purchase their initial stock offering for $10.00 per share, prior to it being offered on the NASDAQ exchange.
They are converting from a Mutual structured bank to a publicly owed stockholder bank and this is a provision they have to offer the current Mutual deposit account holders.
It seems like a great opportunity, what say the Money Board experts?
They are converting from a Mutual structured bank to a publicly owed stockholder bank and this is a provision they have to offer the current Mutual deposit account holders.
It seems like a great opportunity, what say the Money Board experts?
10
Posted on 8/27/24 at 8:34 pm to Skippy1013
quote:
It seems like a great opportunity
Do you know anything about their financials?
Not trying to rain on your parade, but it matters.
Posted on 8/27/24 at 9:14 pm to Skippy1013
I got the same package, but didn’t open it. Now I’m curious!!
Posted on 8/27/24 at 9:20 pm to CajunInFL
I’m guessing it can go up or down at IPO
Posted on 8/27/24 at 9:45 pm to Skippy1013
quote:
They are converting from a Mutual structured bank to a publicly owed stockholder bank and this is a provision they have to offer the current Mutual deposit account holders.
Is this a scenario where the mutual ownership structure is going to exceed the "X" number of allowed owners or to improve capital levels or other?
Posted on 8/28/24 at 5:35 am to Skippy1013
Crap I glanced at it without reading and thought it was a voting card for shareholders and I tossed it.
Can you do it online? How do I access the ability to purchase?
Can you do it online? How do I access the ability to purchase?
Posted on 8/28/24 at 6:58 am to Mariner
There is a phone number to call, 504-569-3483
Posted on 8/28/24 at 7:29 am to Skippy1013
They are positioning themselves to access capital but really to sell out once the demutualization cool-off periods ends, which I think is either 3 or 5 years.
Posted on 8/28/24 at 10:25 am to Skippy1013
Link to their S1 filing if anyone is interested in reviewing financials LINK
Posted on 8/28/24 at 5:20 pm to Sterling Archer
Anyone good at evaluating financials who can look at this and give an opinion?
Posted on 8/28/24 at 8:33 pm to Mariner
quote:
Crap I glanced at it without reading and thought it was a voting card for shareholders and I tossed it.
I did the same. Oooops.
Posted on 8/28/24 at 8:59 pm to Skippy1013
I just opened mine and came here Immediately. It's $10 a share with a minimum of 25 ($250) and a max of $IDontRemember
Posted on 8/28/24 at 9:34 pm to Skippy1013
I called and received a recording. Left a message. Thanks.
Posted on 9/13/24 at 12:28 pm to Skippy1013
Anyone jump on this? Deadline is approaching.
Posted on 9/15/24 at 8:24 am to CajunInFL
I’m going to call that number again tomorrow as I could not get an answer a few weeks ago. Is there any other way to purchase shares for its IPO?
This post was edited on 9/15/24 at 8:25 am
Posted on 9/15/24 at 2:48 pm to Skippy1013
Regional banks with real estate exposure have been getting reamed. I know nothing of this bank’s portfolio or financial condition but it’s not impossible that they’re diversifying their exposure to new shareholders. There are lots of other possibilities such as raising capital that could be good. But, one thing that’s certain is they know better than you.
Do your homework.
Do your homework.
Posted on 9/15/24 at 10:50 pm to Skippy1013
quote:I will try to get you some specific info on this sometime this week.
Fidelity Bank (New Orleans) stock offering
Historically, this has been an incredible strategy (participating in these mutual company conversions) because, unlike regular IPOs where the incumbent private shareholders have a massive incentive to have the IPO price be as high as possible, the dynamics are such that the management team wants the IPO price to be as LOW as possible. Thus, if you can get in at that price, it stands to go up.
Peter Lynch has been big on this since the 1980s. They were almost always good to participate in - even trying to soak up as many shares as you could from non-participating depositors.
However...someone else correctly pointed out the commercial real estate time bomb that COULD be sitting on their balance sheet, so it warrants close inspection. Stay tuned.
Posted on 9/16/24 at 7:08 am to Big Scrub TX
The deadline to purchase is this coming Friday.
Posted on 9/16/24 at 8:06 am to Mariner
Per the brochure, the only way to purchase shares was on the stock order form that came in the packet. There is a stock information center located at 2509 Severn Ave. You might have to go there to see if they will let you fill one out there.
Posted on 9/16/24 at 10:13 am to PerplenGold
quote:
Do your homework.
What if we got the smartest person to do the homework and made them share with the class?
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