Oritani Financial (NASDAQ:ORIT)

project strong double digit EPS growth over next couple of years with PE under 25 and a @.3% yield now

Based in Northern New Jersey, one of the conference calls that they are in one of the wealthiest markets in the country with an average income of $81K, versus 50K for the US as a whole. Specialize in commercial loans (not construction) and multifamily dwellings. Oritani has non-performing loans of only 1.7% . Fairly cheap on book (book of $11.45). There is room for growth because their balance sheet is so good and because of a recent offering they did. Oritani was a mutual holding company thatt went 100% public in June, and raised a bunch of money doing so. Have $6/share in cash on their balance sheet. Cash gives them an equity to asset ratio is 0.26, which is a lot higher then most banks. Put that together with a good loan book and a good area to invest in, along with their history of being a traditionally conservative lender, means they should be able to grow their loan book with high quality loans.