RE:RE:About timeI'd argue that this is all symptoms of the problem, which is the presence of a union.
LB's ROE has lagged other banks for decades, and in my opinion that is the reason.
Other banks might be very reluctant to acquire LB because doing so might import the union, which would be like injesting cancer.
Any acquisition would have to get rid of the union, which I do not see as feasible. An option would be to buy out the entire loan book, and leave the bank to be wound up and closed, which would put all the employees and union out of work and address the problem, as LB would be liquidated.
This is pretty much the most likely and workable outcome that I can see, or a slow and constant decline and decay of its current situation.
I'm not sure the share price is yet at a level where this would be an option, considering what windup costs would be if they were to sell off the entire loan portfolio and wind up the company.
I'm long EQB/HCG, two similar sized banks that aren't infected with cancer.