National Western Life and it s Deferred Acquisition Costs

I often read in the yahoo message board about a stock, i own myself. National Western Life Group (NWLI). There is much critic at the major shareholder (Robert Moody and his Children). I m from Germany and so forgive me my english, but i want to add an few points(that are important from my point of view) to the discussion:

Deferred Acquisition Costs (DAC)/ Deferred Sales Inducements

I sometimes think in the discussion about the National Wester Life/National Western Life Group stock is often a misunderstanding of this balance sheet position.

Wikipedia says to this balance sheet position „It describes the practice of deferring the cost of acquiring a new customer over the duration of the insurance contract. Insurance Companis face large upfront costs incurred in issuing new business, such as commissions to sales agents, underwritting, bonus interest and other acquisition expenses.“… Weiterlesen

My favorite community banks with a discount to tangible book value.

Hi, i’m an small cap investor from Germany and interested in US Community Bank stocks.

Unfortunately not a lot of Germans are really into US Bank stocks and so I will try to write my today’s article in English.

I m a discount to tangible book value investor and look for picks with low priced assets with profitability and not too much trouble on the books.

Two of my favorite bank stocks -for the moment- are the Bank of Utica (BKUT) and (BKUTK) and the First Federal of Northern Michigan Bancorp (FFNM). Both banks trade at a discount to tangbile book value and have an histroy of profitabilty and dividend payments…. Weiterlesen