The objective of Elizabeth Park Capital Management is to create investment products producing superior risk-adjusted returns while preserving capital in down markets.
We employ a fundamental, bottom-up, stock-picking process focused on small/mid cap banks and thrifts (all but the top ten banks in the country). Our flagship Fund also invests in preferred stocks (straight, trust and convertibles) and select mortgage REITs. It mitigates risk by utilizing short positions, which we view as fundamental in nature and as a profit center.
We determine the relative value of securities by analyzing several qualitative and quantitative attributes, including business mix, capital, asset quality, management, and liquidity. Our valuation methodology focuses on price to tangible book value and price to normalized EPS.