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These ratings are posted by site users; this content is not intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by Bankinvestor.com

NWSB
Strong Buy 
 0.00%
0 members
Buy 
 50.00%
2 members
Hold 
 0.00%
0 members
Sell 
 50.00%
2 members
Strong Sell 
 0.00%
0 members
 
Average rating: 3.00 (Strong Buy) 1.00 - 5.00 (Strong Sell) Total: 4 members

Annual growth of NWSB:

NOTE: areas highlighted in blue indicate that this user is sharing the highlighted information with their private group ONLY

Oct. 13 2005, 8:49 PM ET
Nearest price: 20.72 (10/13/05)
by Raven (profile)
(all of Raven's ratings)
rating:
Buy
[ No comment ]

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Nov. 20 2003, 07:18 AM ET
Nearest price: 21.30 (11/20/03)
by tradejack (profile)
(all of tradejack's ratings)
rating:
Sell
[ Comments shared with private group only ]
 
Nov. 19 2003, 8:42 PM ET
Nearest price: 20.94 (11/19/03)
by thriftsuckr1 (profile)
(all of thriftsuckr1's ratings)
rating:
Buy
[ No comment ]

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Nov. 18 2003, 2:41 PM ET
Nearest price: 21.23 (11/18/03)
by elevenwall (profile)
(all of elevenwall's ratings)
rating:
Sell
(Previous rating: Strong Buy,
on Jul. 31 2003, 07:47 AM ET)
I see changing sentiment in the community banking sector. Was a good buy below $17 but now at $21.50 it is fairly priced...if sector sells of, this stock probably goes lower...wouldn't short but wouldn't hold if long the name.



----------------------------------------------------
Interim step offering in progress. Smart management. This is one of the most inexpensive MHCs remaining. They have done an excellent job of deploying excess capital in the last five years. If I were the CEO of NWSB I would be running the show just like they have to date as I would have had stock that I purchased on the IPO and options and wouldn't want to announce a full second step until as much of the capital as possible had been deployed and majority ownership was down to 50.1%. Prior to the recent interim step offering, the holding company owned almost 75% of the outstanding shares. It looks like to me that after the offering the holding company will own about 58% of the outstanding shares. If they don't stop the growth pattern they are currently in, they will need to raise additional capital in the next two years or so. I calculate that following the upcoming offering if you then assumed a second step offering at 110% of tangible book value to depositors that the stock is currently trading at about 80-85% of fully converted book value. If NWSB was to complete a full second step at some time in the future, I think it would trade up to about 140% of full converted book value, in a market environment similar to today's, which would indicate about 75% upside to current prices. Not a bad return over a few years time.

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