Pickwick's Community Bank Investor
Investing in Low Market Capitalization Banks

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Greenville Federal Financial Corp (GVFF)

2025-07-27

Greenville Federal runs four branches ("banking centers") in Ohio, northwest of Dayton. Market cap is $13.5M, total assets are $250M. The stock, listed on the OTCID, trades regularly.

The company seems to struggle to make a profit. The dividend was suspended three years ago, and no sign of that being restored. One may note that AOCI is zero, and the reason for no losses from investments is that all securities have been classified as Held To Maturity (flashback to Silvergate...). It trades 30% under book value, but that value is dropping.

There are seven independent directors; more than needed for a company this size but not excessive.

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