Stock Of Second Ex-CU Subject Of Speculation.(Brief Article)

In a scenario eerily reminiscent, a well-known Wall Street speculator, specializing in community bank and thrift stocks bought a major interest in BUCS Federal Savings Bank, just as the converted credit union, formerly known as BUCS Federal Credit Union, went public in an initial public offering last month.

Jeffrey Gendell, who runs Tontine Partners, said he sees the former credit union as takeover bait, but not for as long as two years, during which he expects the stock price to almost triple from its initial price of $10 a share.

Tontine Financial Part