BOF Stock Slips Slightly

We noticed The Bank of Fayetteville’s stock price has been on a bit of a ride for the past year. Not quiet a roller coaster, but it’s had some significant swings.

As of Dec. 17, 2009, the bank’s stock, which is traded as a penny stock, was $17 per share. The value a year later was $6.25.

It hit a low of $3.25 on March 31, but quickly went back up and has been valued between $8 and $8.25 for most of 2010.

There was speculation in the market that the bank was prepping for a sale in the first part of 2010, but nothing ever came of it.

As of Sept. 30, BOF had lost $457,000 for the year, compared with $2.1 million for the same time a year before.

At the end of the third quarter, total noncurrent loans for the bank are up to 3.83 percent, or $11.7 million, compared to 1.61 percent, or $5.6 million a year prior.

President and CEO Mary Beth Brooks said the bank does not focus on its stock price, since it’s not a publicly traded company.

“During this banking crisis, we are working diligently to make sure that we are taking care of our customers and that we are not under any formal regulatory order,” she wrote in an e-mailed response. “From my personal perspective, my board is happy, my customers are happy, my community is happy, and my BOF partners are happy…that is my focus and it always will be.”