I’ve completed my initial list of thrift conversions, which is sortable by IPO date, market cap, return on equity, price to tangible book value, ticker, and equity/assets.
The list provides some of the most relevant details in beginning research on the most interesting thrift conversions. In some cases, notably where the company is partially owned by a mutual holding company, I have not provided an adjusted market cap and price to tangible book value. Usually these stocks appear to trade at a substantial elevation above tangible book, and a quick look into the company will reveal this fact.
I’ve included thrift conversions of the last five years and a few others. As a general rule, the most interesting conversions are those in the last year or two, because they’re unknown and often remain relatively cheap. How cheap? It’s not too difficult — even in this rabid bull market — to find a very overcapitalized bank trading substantially below book.
Check it out here: http://thezenofinvesting.com/thrift-conversions/