Prices and market caps: Cboe delayed data, at least 15 minutes delayed. Not real-time. Fundamentals from company filings.

FTFI — Fair Value Analysis

FIRST BERLIN BANCORP INC

Current: $38.75Price below range

Fair Value Range

Bear Case (25th pct.)

$44.29

14.3% vs price

Base Case (Median)

$45.88

18.4% vs price

Bull Case (75th pct.)

$48.89

26.2% vs price

$44.29$45.88$48.89

◇ = Current price | | Bear | Base | Bull

Method Breakdown

Method	Est. Value	vs Price	Weight
DCF (Discounted Cash Flow)	$42.71	10.2%	High (40%)
PE Comparable	$45.88	18.4%	Medium (25%)
Graham Number	$51.89	33.9%	High (80%)

Interpretation

Based on 3 out of 8 methods, FTFI appears undervalued at the current price of $38.75. The base case fair value of $45.88 implies 18.4% upside.

Bear/base/bull cases represent the 25th, 50th, and 75th percentile of available method estimates. This is not financial advice. Valuation is inherently uncertain.