In addition to watching the common stock, I thought some of you might also have an interest in watching SCMF's trust preferred stock. The dividend yield is currently 12%+. As a trust perferred security issued against underlying subordinated SCMF debt, it stands higher in the company's capital structure than either the common stock or the preferred stock the bank issued to the Treasury for the TARP money it received. Though the bank can suspend the dividend on the trust preferred shares, it can only do so if it also suspends payment of the dividends on the TARP preferred.

You can read about SCMF's trust preferred using Quantumonline.com. Registration to use the site is required, but the service is free and user supported.

A word of caution about the trust preferred - it's very thinly traded (total float is 3 million shares) so price swings and liquidity can be issues.

Hope this is helpful. Let me know your thoughts. Best regards all.