Valuing regional banks isn’t what it used to be. Back when Cramer was running his hedge fund, it was simply a matter of checking the cash held, franchises and location, then waiting for a takeover. In the meantime, you collected decent earnings and dividends while you waited.
That’s why at first glance International Bancshares looks attractive. The stock’s trading at half its book value and pays out a 9% dividend yield. But it’s hard to trust any bank in this market. That’s why Cramer wanted to talk with Chairman, CEO and President Dennis Nixon before he made a call. Watch the video for the CEO’s take on the TARP, mark-to-market accounting the safety of his dividend and more.
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