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  September 5, 2001
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Home > Company Index > Banking > Banking - West > Life Financial Corporation

Life Financial Corporation
Nasdaq: LFCO
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 PROFILE
Life Financial is the holding company for Life Bank, a federally chartered savings and loan with about a half-dozen branches in San Bernardino, Riverside, and Orange counties in southern California. Through a network of correspondents and mortgage brokers, the bank primarily dealt in the purchase, origination, and sale of mortgages on one- to four-family residences until it failed to meet capitalization requirements. Life Bank has refocused on more traditional retail banking services: it offers such savings products as CDs (more than 90% of all deposits) and passbook, money market, and NOW accounts, and continues to write a variety of mortgages and consumer and business loans.

 COMPETITION
Bank of America Corporation (BAC)
Washington Mutual, Inc. (WM)
Wells Fargo & Company (WFC)

 DEALS
Deal: Life Bank Partners With Prodigy and Recompute
Date Announced: 03.24.99
Value of transaction (US $Mil): 0
Description: Financial services company to provide financing services for Recompute and Prodigy's iLife computer-and-access package.

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 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 41.60
1-Yr. Sales Growth: (34.3)%
Employees: 109
Revenue per employee: $381,651.38

 KEY PEOPLE
• Steven R. Gardner
    CEO
• Roy L. Painter
    CFO

 CONTACT INFO
10540 N. Magnolia Ave., Ste. B
Riverside, CA 92503
US
Phone: 909-637-4000
Fax: 909-637-4429
Online: Web Site

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