I think MYS is a great little bank. I like its demographics...

I think MYS is a great little bank. I like its demographics along the eastern seaboard and agree with above posters that its exposure to a resurgent Tasmanian economy, where its base lies should not be under estimated. Tasmanian housing market and agriculture sectors are booming which should shore up MYS growth into the future.

MYS has a significant wealth management business unlike most of the other banks who have been off loading their wealth management divisions. WBC thinks its wealth arm is worth keeping and so do I. Might even give MYS some business once I check out their products.

I brought in at $4.46 for its grossed up yield of 9%. The stock is thinly traded so after it goes ex div on 1st. March buyers might get the opportunity to join me in topping up circa $4.30 ish where recent lows occurred. 

One needs to look past the recent downturn as the second half results should close the gap on NPAT. MYS has a strong balance sheet. Those that buy on the dips will be rewarded with a nice div yield and a resurgent share price down the track. Just remember Rome wasn't built in a day.