CFS Bancorp Inc. (CITZ, Financial) filed Annual Report for the period ended 2010-12-31.
Cfs Bancorp Inc. has a market cap of $62.94 million; its shares were traded at around $5.8 with a P/E ratio of 17.06 and P/S ratio of 1.12. The dividend yield of Cfs Bancorp Inc. stocks is 0.69%.Hedge Fund Gurus that owns CITZ: Irving Kahn of Kahn Brothers & Company Inc., Jim Simons of Renaissance Technologies LLC. Mutual Fund and Other Gurus that owns CITZ: Chuck Royce of Royce& Associates, Prem Watsa of Fairfax Financial Holdings, Inc..
We are also required to monitor our aggregate loans to corporate groups. These are loans that are made to individual entities that have a similar ownership group but are not considered to be a common enterprise. While the individual loans are secured by separate properties and underwritten based on separate cash flows, the entities may all be owned or controlled by one individual or a group of individuals. We are required by regulation to limit our aggregate loans to any corporate group to 50% of Tier 1 capital. At December 31, 2010, Tier 1 capital was $101.1 million. Our two largest corporate group relationships at December 31, 2010 equaled $21.3 million and $15.1 million, respectively. Both of these relationships are well below the group limit of $50.6 million and are performing in accordance with their terms.
Commercial real estate owner occupied loans are generally a borrower purchased building where the borrower occupies at least 50% of the space with the primary source of repayment dependent on sources other than the underlying collateral. These types of loans are secured by properties housing the owner s business such as light industrial/warehouses, restaurants, single tenant office properties, multi-tenant office properties, and professional office properties. At December 31, 2010, the outstanding balance of our commercial real estate owner occupied loan portfolio was $99.4 million, or 13.6% of total loans receivable, and the average loan size in this portfolio approximated $510,000.
Commercial real estate non-owner occupied loans are generally loans collateralized by commercial income-producing properties such as office buildings, retail shopping centers, mixed-use commercial buildings, and properties used in the hospitality industry. We generally obtain the personal guarantees of the borrower to help mitigate the risk associated with this type of lending. At December 31, 2010, the outstanding balances of our commercial real estate non-owner occupied loan portfolio was $191.9 million, or 26.2% of total loans receivable, and the average loan size in this portfolio approximated $744,000.
Commercial real estate multifamily loans include loans to purchase or refinance residential rental properties with five or more units such as apartments, town homes, and nursing homes. In 2008, we hired an experienced relationship manager to focus solely on growing the multifamily loan portfolio. Our emphasis is to originate multifamily loans collateralized by properties with 24 units or less. At December 31, 2010, the outstanding balance of our commercial real estate multifamily loan portfolio was $72.2 million, or 9.8% of total loans receivable, and the average loan size in this portfolio approximated $512,000.
At December 31, 2007, we reclassified certain construction and lot loans where the loan was related to the construction of a one-to-four family residence. These loans generally convert to permanent mortgage loans upon the completion of the project. As a result of the reclassification, these loans are included in our retail loan portfolio. At December 31, 2010, the outstanding balance of our commercial construction and land development loans was $24.3 million, or 3.3% of total loans receivable, and the average outstanding loan balance of this portfolio was approximately $452,000.
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Cfs Bancorp Inc. has a market cap of $62.94 million; its shares were traded at around $5.8 with a P/E ratio of 17.06 and P/S ratio of 1.12. The dividend yield of Cfs Bancorp Inc. stocks is 0.69%.Hedge Fund Gurus that owns CITZ: Irving Kahn of Kahn Brothers & Company Inc., Jim Simons of Renaissance Technologies LLC. Mutual Fund and Other Gurus that owns CITZ: Chuck Royce of Royce& Associates, Prem Watsa of Fairfax Financial Holdings, Inc..
Highlight of Business Operations:
As of June 30, 2010, the aggregate value of the 10,846,650 shares of Common Stock of the Registrant outstanding on such date, which excludes 1,812,715 shares held by affiliates of the Registrant as a group, was approximately $44.1 million. This figure is based on the closing sale price of $4.88 per share of the Registrant s Common Stock reported on the NASDAQ Global Market on June 30, 2010.We are also required to monitor our aggregate loans to corporate groups. These are loans that are made to individual entities that have a similar ownership group but are not considered to be a common enterprise. While the individual loans are secured by separate properties and underwritten based on separate cash flows, the entities may all be owned or controlled by one individual or a group of individuals. We are required by regulation to limit our aggregate loans to any corporate group to 50% of Tier 1 capital. At December 31, 2010, Tier 1 capital was $101.1 million. Our two largest corporate group relationships at December 31, 2010 equaled $21.3 million and $15.1 million, respectively. Both of these relationships are well below the group limit of $50.6 million and are performing in accordance with their terms.
Commercial real estate owner occupied loans are generally a borrower purchased building where the borrower occupies at least 50% of the space with the primary source of repayment dependent on sources other than the underlying collateral. These types of loans are secured by properties housing the owner s business such as light industrial/warehouses, restaurants, single tenant office properties, multi-tenant office properties, and professional office properties. At December 31, 2010, the outstanding balance of our commercial real estate owner occupied loan portfolio was $99.4 million, or 13.6% of total loans receivable, and the average loan size in this portfolio approximated $510,000.
Commercial real estate non-owner occupied loans are generally loans collateralized by commercial income-producing properties such as office buildings, retail shopping centers, mixed-use commercial buildings, and properties used in the hospitality industry. We generally obtain the personal guarantees of the borrower to help mitigate the risk associated with this type of lending. At December 31, 2010, the outstanding balances of our commercial real estate non-owner occupied loan portfolio was $191.9 million, or 26.2% of total loans receivable, and the average loan size in this portfolio approximated $744,000.
Commercial real estate multifamily loans include loans to purchase or refinance residential rental properties with five or more units such as apartments, town homes, and nursing homes. In 2008, we hired an experienced relationship manager to focus solely on growing the multifamily loan portfolio. Our emphasis is to originate multifamily loans collateralized by properties with 24 units or less. At December 31, 2010, the outstanding balance of our commercial real estate multifamily loan portfolio was $72.2 million, or 9.8% of total loans receivable, and the average loan size in this portfolio approximated $512,000.
At December 31, 2007, we reclassified certain construction and lot loans where the loan was related to the construction of a one-to-four family residence. These loans generally convert to permanent mortgage loans upon the completion of the project. As a result of the reclassification, these loans are included in our retail loan portfolio. At December 31, 2010, the outstanding balance of our commercial construction and land development loans was $24.3 million, or 3.3% of total loans receivable, and the average outstanding loan balance of this portfolio was approximately $452,000.
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