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Sunday, June 05, 2005

Bay National Corporation (BANI)

Bay National (website) is very similar to Bank of the James. They both have nearly identical amounts of assets. Both are very new banks. Both were founded as a response to the insane number of mergers/acquisitions. Both are trying to be community banks. If nothing else, this provides a great comparison for BotJ.

Comparisons. I'm going to just run through these in no particular order:
The risk-based capital ratio assigns different weighting to different types of assets, depending on how risky they are.

Oh yeah, all of these numbers are based on the quarter ending March 31, 2005.

Market cap:
BANI is selling for pretty close to what it's worth. I'll hold off on running it through the checklist for now (unless I get motivated for some reason).

Now that I've seen two of these, I might actively search for a startup bank before it's actually making money and do a close comparison with these other two banks at the same point in their lifespan.

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