Mysterious Banking Deposit

[David]

Originally Posted by HejiraNYC

Argh... I'm so stupid. False alarm. It is mine. Long story short, one of my company stocks merged with another company and the stocks converted automatically yesterday on a 1:1 share basis, so these are the net proceeds from that trade. This is silly... they should have just re-invested the net proceeds, but they didn't! Still... the reps at the bank were dumbfounded and transferred me three times before someone could figure out what happened. Well, I s uppose it's all for the best... this new stock/company is a total dud- they've been in the toilet for over ten years now.

Be sure to set aside the taxes for it in a 6-month CD.