OTCPK:FNHM

Stock Analysis Report

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Executive Summary

FNBH Bancorp, Inc. operates as the bank holding company for First National Bank in Howell that provides a range of commercial and personal banking services in Michigan.


Snowflake Analysis

Flawless balance sheet and good value.

Share Price & News

How has FNBH Bancorp's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: FNHM's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-4.5%

FNHM

-0.7%

US Banks

1.3%

US Market


1 Year Return

-4.5%

FNHM

-23.5%

US Banks

14.9%

US Market

Return vs Industry: FNHM exceeded the US Banks industry which returned -25.2% over the past year.

Return vs Market: FNHM underperformed the US Market which returned 12.5% over the past year.


Shareholder returns

FNHMIndustryMarket
7 Day-4.5%-0.7%1.3%
30 Day-2.3%2.6%4.7%
90 Day-34.4%4.8%17.1%
1 Year-4.5%-4.5%-20.8%-23.5%17.3%14.9%
3 Year3.2%3.2%-15.5%-22.2%38.9%29.9%
5 Year69.4%69.4%8.5%-4.7%71.3%52.8%

Price Volatility Vs. Market

How volatile is FNBH Bancorp's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is FNBH Bancorp undervalued compared to its fair value and its price relative to the market?

20.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FNHM ($2.1) is trading below our estimate of fair value ($2.64)

Significantly Below Fair Value: FNHM is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: FNHM is good value based on its PE Ratio (9x) compared to the US Banks industry average (9.6x).

PE vs Market: FNHM is good value based on its PE Ratio (9x) compared to the US market (17.8x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate FNHM's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: FNHM is overvalued based on its PB Ratio (1x) compared to the US Banks industry average (0.8x).


Next Steps

Future Growth

How is FNBH Bancorp forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

26.6%

Forecasted Banks industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as FNBH Bancorp has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

  • Examine whether FNBH Bancorp is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  • While we do not consider unaudited financials to be a reliable enough to include in our analysis, you can access them on theOTC Markets Website. If you are looking for more of a qualitative research into the company, you can access FNBH Bancorp's filings and announcementshere.
  • Explore growth companies in the Banks industry.

Past Performance

How has FNBH Bancorp performed over the past 5 years?

-2.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FNHM has high quality earnings.

Growing Profit Margin: FNHM's current net profit margins (27.4%) are higher than last year (23.1%).


Past Earnings Growth Analysis

Earnings Trend: FNHM's earnings have declined by 2.7% per year over the past 5 years.

Accelerating Growth: FNHM's earnings growth over the past year (39.8%) exceeds its 5-year average (-2.7% per year).

Earnings vs Industry: FNHM earnings growth over the past year (39.8%) exceeded the Banks industry -2.9%.


Return on Equity

High ROE: FNHM's Return on Equity (11.5%) is considered low.


Next Steps

Financial Health

How is FNBH Bancorp's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: FNHM's Assets to Equity ratio (7.7x) is low.

Allowance for Bad Loans: FNHM has a sufficient allowance for bad loans (438%).

Low Risk Liabilities: 99% of FNHM's liabilities are made up of primarily low risk sources of funding.

Loan Level: FNHM has an appropriate level of Loans to Assets ratio (81%).

Low Risk Deposits: FNHM's Loans to Deposits ratio (94%) is appropriate.

Level of Bad Loans: FNHM has an appropriate level of bad loans (0.4%).


Next Steps

Dividend

What is FNBH Bancorp current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate FNHM's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate FNHM's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if FNHM's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if FNHM's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: FNHM is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of FNHM's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

11.2yrs

Average management tenure


CEO

Ron Long (61 yo)

12.25yrs

Tenure

US$326,134

Compensation

Mr. Ronald L. Long, also known as Ron, serves as the Chief Executive Officer of First National Bank In Howell since May 12, 2008. Mr. Long served as the President of FNBH Bancorp Inc. and its subsidiary, F ...


CEO Compensation Analysis

Compensation vs Market: Ron's total compensation ($USD0.00) is below average for companies of similar size in the US market ($USD608.75K).

Compensation vs Earnings: Ron's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Ronald Long
President12.25yrsUS$326.13k0.52%
$ 303.3k
Mark Huber
SVP & CFO11.17yrsUS$114.00k0.040%
$ 23.3k
Maribeth Campbell
Human Resources Officer & Secretaryno datano datano data
Rick James
Senior VP & Chief Risk Officer6.75yrsno datano data

11.2yrs

Average Tenure

57yo

Average Age

Experienced Management: FNHM's management team is seasoned and experienced (11.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Ronald Long
President12.25yrsUS$326.13k0.52%
$ 303.3k
Robert Clemente
Director4.5yrsno data8.9%
$ 5.2m
R. Yost
Independent Director23.58yrsUS$16.13k0.36%
$ 210.0k
Harry Griffith
Director Emeritusno datano datano data
Timothy Corrigan
Independent Director9.58yrsUS$13.25k2.59%
$ 1.5m
Stanley Dickson
Independent Vice Chairman of the Board9.58yrsUS$2.25k38.79%
$ 22.6m
Philip Utter
Independent Chairman of the Board9.83yrsUS$17.69k1.8%
$ 1.0m
Kenneth Marblestone
Director5yrsno data0.42%
$ 245.0k
William Dickson
Independent Director6.25yrsno data0.15%
$ 88.1k

9.6yrs

Average Tenure

64yo

Average Age

Experienced Board: FNHM's board of directors are considered experienced (9.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

FNBH Bancorp, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: FNBH Bancorp, Inc.
  • Ticker: FNHM
  • Exchange: OTCPK
  • Founded: 1891
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$58.320m
  • Shares outstanding: 27.77m
  • Website: https://www.fnbh.com

Number of Employees


Location

  • FNBH Bancorp, Inc.
  • 101 East Grand River
  • PO Box 800
  • Howell
  • Michigan
  • 48843
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FNHMOTCPK (Pink Sheets LLC)YesCommon StockUSUSDMay 2002

Biography

FNBH Bancorp, Inc. operates as the bank holding company for First National Bank in Howell that provides a range of commercial and personal banking services in Michigan. The company accepts checking, saving ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/03 00:29
End of Day Share Price2020/07/29 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.