If you are hunting for cheap banks skip Arkansas and check out Alabama.
I've been looking for the cheapest small banks. As it turns out, small cap bank valuations are not uniform by geography.
Defined as banks with market caps under $2 billion, I compiled data on small banks and shared it below.
The metric is median Price to Tangible Book Value per share. I took this metric for every bank under $2b market cap which for I had fundamental data. Namely: price, TBV per share, and headquarters state (thank you ycharts). Then pored it into tableau, which computed medians by state and placed the data on the map.
Alaska and Hawaii can be found by dragging or zooming out.
Despite my best efforts there are some quirks in the data:
This is the personal blog of Emory Redd.
This blog is not investment advice. This is not a solicitation to invest. Don't take candy from strangers.
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