Citizens Bank stock drops to 25 cents

http://secure.signup-way.com/6978/16514/win_lotteryStock prices for Citizens Bancorp, based in Nevada City, has dropped again, this time to a new low of 25 cents per share — though some observers question the significance of price on a stock with such low trading volume.

Bancorp has 2.3 million shares outstanding, spread among about 350 people, mostly in Nevada County, company President Gary Gall said Thursday.

“People holding the stock are not that motivated to sell right now,” as they wait to see what happens with the company's efforts to raise fresh capital, Gall said.

The stock, whose ticker symbol is CZNB, last traded on Thursday, June 23. In five trades ranging from 950 shares to 101 shares, the price dropped from 89 cents a share earlier in the morning to close at 25 cents, according to market information service Interactive Data. Total volume that day was fewer than 1,600 shares, Interactive Date reported.

In the previous day of trading, on June 22, Citizens stock traded as high as 89 cents and closed at 60 cents, Interactive Data reported. The June 23 close marked a loss of 58 percent from that value.

Stock information is listed only for days on which stock is traded — and none has changed hands since June 23, according to Interactive.http://secure.signup-way.com/6978/16514/win_lottery




The service does list offers to buy and sell. While sellers are listing Citizens stock offers ranging from $5.45 to $9 per share, buyers are offering as little as 11 cents. So far, they have no takers, according to Interactive.

The New York Stock Exchange measures trading volume in millions of shares. Stocks that trade on small volumes typically show much greater volatility, said Chris Nielsen, first vice-president of investments and branch manager for Stifel-Nicolaus and Co. Inc. in Grass Valley.

And, “just in the last month or so, volume (generally) has been one-half to two-thirds of what it normally is” due to summertime vacations, Nielsen added.

Bancorp officials are trying to recruit private investors beyond the stock market in a bid to recapitalize; federal regulators want the bank to raise $12 million, while bank officials are shooting for $20 million, Gall has said.

Bank operations continue to be profitable, with $4.3 million in net income before provisions in 2010, Gall has said. That's apart from losses of $8.2 million posted in 2010 due to devaluations in real estate put up as collateral on bank loans.

Citizens Bancorp is the parent company of Citizens Bank of Northern California, with six branches in Nevada County and Auburn. It lends entirely to businesses and individuals in the area and has more than 1,700 deposit accounts.

Mother-in-law sends worst email ever to bride: forgivable

 We know all about temporary bridal insanity, and the underreported groom version, but in some families, it’s the parents who are seized by irrational wedding meltdowns.

Last month, 60-year-old British florist and total mom-zilla, Carolyn Bourne attacked. After her stepson’s bride-to-be, Heidi Withers, was a guest in her house she had a thing or two to teach her before she entered the Bourne family. 

So Bourne sent the 29-year-old a soul-crushing email. The subject line: “Your lack of manners.” The bullet points for the bride, in paraphrase: her wedding is going to be tacky, she’s too picky of an eater, her sense of humor sucks, and her stepson is making a dreadful choice in marrying her. And one more thing: her out-of-work parents are cheap.

When Withers received the email (Bourne sent it three times to be sure) she did what anyone would do: she forwarded it to a few friends to share in the shock. What was the alternative —respond with a 'frowny' face? But instead of simply offering advice, some anonymous friend got pro-active and forwarded Bourne’s e-attack, launching a viral sensation in a matter of hours. Now everyone in the Western Hemisphere has laid eyes on Bourne’s email.

In a way, it’s the ultimate revenge on a mother-in-law who needed to be put in her place after such power-mongering. But it’s not going to make for smooth wedding. Bourne has been labeled the mother-in-law from hell by media outlets and Withers’ father Alan has fueled the fire  by publicly calling Bourne “Miss fancy pants." Now parents on both sides of the couple are fueding and nobody's manners are in check. Suggestion for Heidi and Freddie, her groom: elope.

Bourne has told London's Telegraph she still plans to attend the wedding, but will maintain a "dignified silence." She may know about English etiquette but she’s clueless about the cardinal rule of the Internet: never send an email you don’t want the world to see.  You almost have to feel bad for the lady, mom-zilla or not. That is, until you read the actual email she sent Withers. Here’s an excerpt: