Oct. 28 at 4:50 PM
$PKBK This bank in New Jesey looks like a house of cards to me... reminds me of SVB Financial and Signature Bank. Super weak deposit base and no meaningful branch network other than a few offices. It's just a bunch of hot money deposits funding a ton of underwater commercial real estate loans. Based on their filings, they've been slapped with a "consent order" and are being targeted by their regulators. This usually doesn't end well. The cannabis lending also looks shady to me. Be careful with this one.