Cashmere Valley Bank: Attractively Valued, with Growth Prospects

Daniel Baldini of Oberon Asset Management presented his in-depth investment thesis on Cashmere Valley Bank (US: CSHX) at Best Ideas 2020.

Thesis summary:

Cashmere Valley Bank is a Washington State based community bank with a long record of growth, good profitability and conservative management. The bank recently traded at an attractive valuation on a stand-alone basis and has good growth prospects. There is an ongoing process of consolidation among community banks and Cashmere is an attractive acquisition candidate. Were the bank acquired, Daniel believes it would likely go for a substantial premium to the recent market quotation.

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About the instructor:

Daniel Baldini is the founder and Managing Partner of Oberon Asset Management LLC, a New York based registered investment advisor managing separate accounts for individuals, partnerships, trusts and pension plans. Prior to founding Oberon in 2001 Mr. Baldini worked for the International Finance Corporation, the private sector arm of the World Bank, as an Investment Officer in the Asia and Eastern Europe Departments. Following graduation from the Stanford University Graduate School of Business and prior to joining the IFC Mr. Baldini lived in London for three years and worked for Electra Investment Trust PLC, a UK investment firm specializing in small public company and private equity investments.