Global Banks Undervalued over 20% based on DCF

CSB Bancorp

Market Cap: US$194.4m

Operates as the bank holding company for The Commercial and Savings Bank of Millersburg that provides various banking, trust, financial, and brokerage services to corporate, institutional, and individual customers in Northeast Ohio.

Benchmark Bankshares

Market Cap: US$191.5m

Operates as the holding company for Benchmark Community Bank that provides various banking products and services in the United States.

CB Financial Services

Market Cap: US$187.7m

Operates as the bank holding company for Community Bank that provides banking products and services for individuals and businesses.

Embassy Bancorp

Market Cap: US$166.6m

Operates as the bank holding company for Embassy Bank for the Lehigh Valley that provides banking and financial products and services in Pennsylvania.

ENB Financial

Market Cap: US$165.4m

Operates as the bank holding company for Ephrata National Bank that provides various financial services to individuals and small-to-medium-sized businesses in the United States.

MainStreet Bancshares

Market Cap: US$160.3m

Operates as the bank holding company for MainStreet Bank that provides various banking products and services for individuals, small to medium-sized businesses, and professional service organizations.

Sparebanken Øst

Market Cap: NOK 1.5b

Operates as a savings bank in eastern Norway.

Taiko Bank

Market Cap: JP¥24.8b

Provides various banking products and services in Japan.

Dimeco

Market Cap: US$156.6m

Operates as the bank holding company for The Dime Bank that provides banking products and services to individuals and businesses in Pennsylvania.

Calvin B. Taylor Bankshares

Market Cap: US$153.2m

Operates as the holding company for Calvin B.

Skyline Bankshares

Market Cap: US$151.4m

Operates as the bank holding company for the Skyline National Bank that provides a range of retail and commercial banking services to individuals, and small and medium-sized businesses in the United States.

Lollands Bank

Market Cap: DKK 954.7m

Operates as a full-service bank providing financial services to private individuals and commercial customers in Denmark.

National Credit and Commerce Bank

Market Cap: ৳17.8b

Provides various commercial banking products and services in Bangladesh.

Southern Michigan Bancorp

Market Cap: US$139.5m

Operates as the bank holding company for Southern Michigan Bank & Trust that provides a range of commercial banking services to individuals, businesses, institutions, and government agencies primarily in the southwest and south-central Michigan communities.

Century Next Financial

Market Cap: US$131.1m

Operates as the holding company for the Century Next Bank that provides various banking products and services in Louisiana and Arkansas.

Pinnacle Bankshares

Market Cap: US$130.9m

Operates as a bank holding company for First National Bank that provides commercial and retail banking products and services in the United States.

blueharbor bank

Market Cap: US$128.9m

Provides various banking products and services in North Carolina.

Coastal Carolina Bancshares

Market Cap: US$128.5m

Provides banking services to domestic markets, principally in Horry County, Richland County, Aiken County, Greenville County, Spartanburg County, and Orangeburg County, South Carolina.

Mountain Pacific Bancorp

Market Cap: US$125.7m

A bank holding company, provides various banking services to individual and corporate customers.

Tomato Bank

Market Cap: JP¥19.7b

Provides banking products and services for individual and corporate customers in Japan.

Trust Bank

Market Cap: ৳15.4b

Provides various banking services in Bangladesh.

Lea Bank

Market Cap: SEK 1.2b

Provides various banking products and services in Norway, Sweden, Finland, and Spain.

Bank of the James Financial Group

Market Cap: US$123.4m

Operates as the bank holding company for Bank of the James that provides general retail and commercial banking services to individuals, businesses, associations and organizations, and governmental authorities in Virginia, the United States.

CW Bancorp

Market Cap: US$123.0m

Operates as a holding company for CommerceWest Bank that provides various commercial banking products and services for small and mid-sized businesses in California.

Cornerstone Bancorp

Market Cap: US$118.2m

Operates as the bank holding company for Cornerstone National Bank & Trust Company that provides various financial products and services to individuals and businesses.

Jeffersonville Bancorp

Market Cap: US$116.7m

Operates as the bank holding company for Jeff Bank that provides community banking products and services to individuals, small businesses, and local municipal governments primarily in Sullivan County, New York.

Katahdin Bankshares

Market Cap: US$116.4m

Operates as the bank holding company for Katahdin Trust Company, a state-chartered commercial bank that provides various commercial and retail banking services for individuals and businesses in Maine.

Harleysville Financial

Market Cap: US$111.4m

Operates as the bank holding company for Harleysville Bank that provides banking products and services in Pennsylvania.

Bank of Botetourt

Market Cap: US$108.6m

Provides various banking products and services in Virginia.

United Bancshares

Market Cap: US$105.9m

Operates as the bank holding company for The Union Bank Company that provides various commercial and consumer banking services.

Trinity Bank N.A

Market Cap: US$105.5m

Provides personal and business banking products and services in Texas.

Peoples

Market Cap: US$103.7m

Operates as the holding company for PS Bank that provides various financial services to individuals, small businesses, and corporate customers in Pennsylvania, the United States.

CNB Community Bancorp

Market Cap: US$103.3m

Operates as the bank holding company for County National Bank that provides retail and commercial banking services in Michigan.

Peoples Financial

Market Cap: US$102.8m

Operates as the bank holding company for The Peoples Bank that provides banking, financial, and trust services in the United States.

Voss Veksel- og Landmandsbank

Market Cap: NOK 974.0m

Provides banking and insurance services to private individuals, business, and agriculture in Norway.

US Metro Bancorp

Market Cap: US$101.6m

Operates as the bank holding company for US Metro Bank that provides various banking services to commercial business and individual consumers.