Banker called and Gave Update

[Henry Clark]

Out tearing fence down on 2 acres we bought at an auction. One of our bankers called to say hi.  See how our projects are going.  If we had any more deals we needed funding.  

Asked him about bank financial safety.  Said he has been asked that a lot by customers and they are good.  The two measures to look at are their equity positions and they have more than required.   Then loans to deposit ratio and they are good.  Always looking for deposits though, so they can do more loans. 

Also talked about the economy. Says there are a lot of cash deals getting done now.  Still a lot of Covid money out there but it is starting to get used up.  That’s what has held the economy and inflation up longer than some people thought.  

We have been wanting to build a Flex contractor set of buildings but waiting on inflation to go down about 30%.   Will take a crash in the economy or costs will stay high and I will be wrong. That’s the fun part of doing your own business, making your own decision whether you’re right or not.   

Our other two bankers also said there is still quite a bit of Covid money sloshing around.  

Will keep working on our land sites prepping for when we decide to pull the trigger or hold for now.