Friday, December 01, 2006

Two Become One

Cue the Spice Girls...

Well, it's a done deal. North Fork Bancorp (NFB) is no more. Capital One Financial's (COF) aquisition of NFB has been completed. I elected my shares for conversion into COF stock, but I won't know if I actually get a 100% conversion or not until next week. Any shares of NFB that do not get converted will be converted to cash as per the merger agreement.

It was back in October of 2001, a couple of weeks before the 9/11 attacks that I bought shares in Greenpoint Financial. I held onto the shares as they appreciated. At some point they split 3 for 2, and then eventually, they were acquired by North Fork Bancorp in October 2004. And, now that initial investment finds itself in the same pool of COF shares as did the investment in Hibernia Corp.

Still waiting for a few stocks to come in a bit before I do some more buying. Have a good weekend.

*** Edit #1 ***

Just added to the Montpelier Re (MRH) position at 18.85 increasing share count by two-thirds. Average cost basis now sits at 18.66.

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