This month Elmira Savings Bank announces that the Shareholders of Elmira Savings Bank, at its voted to approve the proposed merger of Elmira with Community Bank (CBU). We hate to see the stock go but its time to go ahead and sell the stock. Elmira Savings has been in the portfolio since we reopened the High Income Bank Portfolio bank portfolio when vaccines were announced last November and we will be taking a nice gain of about 100% in addition to the dividends we have collected over the past year.

That is also the fourth takeover of a portfolio bank this year for the Community Bank Stock Investors High Yield Bank Stock Portfolio.

Between Banking on Profits and High Yield Banks, we have had 11 now had 11 takeovers in 2021.