OTCPK:IBTN

Stock Analysis Report

Executive Summary

InsCorp, Inc. operates as a bank holding company for InsBank that provides banking products and services in Tennessee.


Snowflake Analysis

Undervalued with adequate balance sheet.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-6.9%

IBTN

-7.0%

US Banks

-2.6%

US Market


1 Year Return

-28.8%

IBTN

-32.9%

US Banks

-13.3%

US Market

Return vs Industry: IBTN exceeded the US Banks industry which returned -32.9% over the past year.

Return vs Market: IBTN underperformed the US Market which returned -13.3% over the past year.


Shareholder returns

IBTNIndustryMarket
7 Day-6.9%-7.0%-2.6%
30 Day-26.4%-24.6%-15.2%
90 Day-30.9%-41.9%-22.2%
1 Year-28.0%-28.8%-30.8%-32.9%-11.5%-13.3%
3 Year-28.5%-30.9%-21.4%-27.3%13.2%5.7%
5 Yearn/a2.7%-9.2%31.8%17.2%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

27.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: IBTN ($12.1) is trading below our estimate of fair value ($16.75)

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


Price To Earnings Ratio

PE vs Industry: IBTN is good value based on its PE Ratio (8.4x) compared to the Banks industry average (8.6x).

PE vs Market: IBTN is good value based on its PE Ratio (8.4x) compared to the US market (12.5x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: IBTN is good value based on its PB Ratio (0.8x) compared to the US Banks industry average (0.8x).


Next Steps

Future Growth

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

-2.8%

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 InsCorp 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 InsCorp 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 the OTC Markets Website. If you are looking for more of a qualitative research into the company, you can access InsCorp's filings and announcements here.
  • Explore growth companies in the Banks industry.

Past Performance

How has InsCorp performed over the past 5 years?

15.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: IBTN has high quality earnings.

Growing Profit Margin: IBTN's current net profit margins (27%) are higher than last year (26.3%).


Past Earnings Growth Analysis

Earnings Trend: IBTN's earnings have grown by 15.2% per year over the past 5 years.

Accelerating Growth: IBTN's earnings growth over the past year (4.5%) is below its 5-year average (15.2% per year).

Earnings vs Industry: IBTN earnings growth over the past year (4.5%) underperformed the Banks industry 10.9%.


Return on Equity

High ROE: IBTN's Return on Equity (9.2%) is considered low.


Next Steps

Financial Health

How is InsCorp'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: IBTN's level of assets compared to its equity is moderate.

Allowance for Bad Loans: Insufficient data to determine if IBTN has a sufficient allowance for bad loans.

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

Loan Level: IBTN has an acceptable proportion of non-loan assets held.

Low Risk Deposits: IBTN's loans are broadly funded by customer deposits.

Level of Bad Loans: Insufficient data to determine if IBTN has an appropriate level of bad loans.


Next Steps

Dividend

What is InsCorp's current dividend yield, its reliability and sustainability?

1.65%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: IBTN's dividend (1.65%) isn’t notable compared to the bottom 25% of dividend payers in the US market (2.01%).

High Dividend: IBTN's dividend (1.65%) is low compared to the top 25% of dividend payers in the US market (5.66%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, IBTN has been paying a dividend for less than 10 years.

Growing Dividend: IBTN's dividend payments have increased, but the company has only paid a dividend for 3 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (13.9%), IBTN's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

8.3yrs

Average board tenure


CEO

Jim Rieniets (51yo)

no data

Tenure

Mr. James H. Rieniets, Jr., also known as Jim, has been the Chief Executive Officer and President of Insbank since January 2010 and since 2007. Mr. Rieniets served as Chief Lending Officer of Insurors Bank ...


Board Members

NamePositionTenureCompensationOwnership
James Rieniets
Presidentno datano data1.95% $695.4k
Dennis Petty
Treasurer13.17yrsno data0.15% $54.1k
Charles Patten
Secretaryno datano data0.76% $272.8k
Charles Tagman
Directorno datano data0.77% $275.7k
Michael Qualls
Chairman of the Boardno datano data1.07% $383.6k
Thomas Loventhal
Directorno datano data2.73% $976.2k
Richard Hollis
Directorno datano data1.3% $463.2k
William Barnes
Director3.75yrsno data0.16% $56.0k
David Crabtree
Director8.25yrsno data0.59% $209.2k
Stacey Garrett Koju
Director3.75yrsno data0.19% $68.1k

8.3yrs

Average Tenure

65yo

Average Age

Experienced Board: IBTN's board of directors are considered experienced (8.3 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

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


Key Information

  • Name: InsCorp, Inc.
  • Ticker: IBTN
  • Exchange: OTCPK
  • Founded: 2000
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$35.703m
  • Shares outstanding: 2.95m
  • Website: https://www.insbanktn.com

Location

  • InsCorp, Inc.
  • 2106 Crestmoor Road
  • Nashville
  • Tennessee
  • 37215
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IBTNOTCPK (Pink Sheets LLC)YesShare CapitalUSUSDJun 2015

Biography

InsCorp, Inc. operates as a bank holding company for InsBank that provides banking products and services in Tennessee. The company offers personal accounts, commercial deposit products, and electronic deposit products; personal, business, and mortgage loans; and commercial lending products. It also provides cash management systems; cash and card, merchant service, HR, accounts payable, and lockbox solutions; and online and mobile banking services. In addition, the company offers medical banking, a division which provides commercial loans and deposits for Tennessee’s physicians, medical practices, healthcare companies, and medical real estate investments, as well as offers services for mergers, acquisitions, and joint venture transactions. InsCorp, Inc. was founded in 2000 and is based in Nashville, Tennessee. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/07 11:24
End of Day Share Price2020/04/03 00:00
Earnings2019/12/31
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.