Today I went ahead and added more shares to a couple of banking issues.
I added some shares of the Heartland Financial 7% fixed rate reset perpetual (HTLFP) with a current yield of 7.65%. I had a position in this issue already so this is a modest addition. Yield to first call on this issue is near 12%–and with a spread of 6.675% (plus the 5 year treasury) on 7/15/2025 one could easily see this get redeemed at that time.
I added the fixed rate issue from Associated Banc-Corp 5.875% perpetual (ASB-E) with a current yield of 9.13%. I scrutinized the presentation that I posted (it is here)–pretty impressive action at the banker to reduce risk-of course one needs to always have their BS detector on when reading company presentations.
So any new issues I add I will go to my list of holdings which I published a month or so ago. I will refresh that list soon and post it.