PROFILE |
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Old Kent Financial owns Old Kent Bank, which operates more than 250 branches in Michigan, Illinois, and Indiana. The bank offers individuals and businesses such deposit services as checking and savings accounts, CDs, and IRAs. Commercial loans and commercial mortgages make up almost half of its portfolio, which includes home equity and other consumer loans (30%), residential mortgages, and construction loans. Subsidiary Old Kent Mortgage is selling about 95 of its nearly 140 offices across the US to focus on five core Midwestern states; it sells mortgages to secondary markets, retaining servicing. Other nonbank subsidiaries include insurance, brokerage, and leasing firms. Fifth Third Bancorp is buying Old Kent.
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STOCK ANALYSIS |
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FURTHER ANALYSIS
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FINANCIAL OVERVIEW |
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Fiscal Year-End: December
1999 Sales (mil.): 1,707.10
1-Yr. Sales Growth: 13.5%
Employees: 8,018
Revenue per employee: $212,908.46
KEY PEOPLE |
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David J. Wagner
CEO
Mary Ellen Baker
CFO
CONTACT INFO |
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111 Lyon St. NW
Grand Rapids, MI 49503
US
Phone: 616-771-5000
Fax: 616-771-4378
Online: Web Site
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