| Business Summary | | Bay
State
Bancorp,
Inc.,
a
savings
and
loan
holding
company,
is
the
holding
company
of
Bay
State
Federal
Savings
Bank,
Brookline,
Massachusetts
and
its
subsidiaries
(the
Bank).
The
Bank's
principal
business
is
attracting
retail
deposits
from
the
general
public
in
the
areas
surrounding
its
branch
offices
and
investing
those
deposits,
together
with
funds
generated
from
operations
and
borrowings,
primarily
in
adjustable-rate
and
shorter-term
fixed-rate
one-
to
four-family
residential
mortgage
loans,
multi-family
and
commercial
real
estate.
To
a
lesser
extent,
the
Bank
invests
in
construction
and
development,
commercial
and
consumer
loans. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Bay
State
Bancorp,
Inc.
is
a
federally
chartered
savings
and
loan
holding
Company
for
Bay
State
Federal
Savings
Bank.
For
the
three
months
ended
6/30/01,
interest
income
rose
9%
to
$9.6
million.
Net
interest
income
after
loan
loss
prov.
rose
21%
to
$4.4
million.
Net
income
rose
44%
to
$1.2
million.
Net
interest
income
after
LLP
reflects
an
increase
in
loan
balances
and
a
higher
interest
rate
spread.
Net
income
also
reflects
higher
service
charges
and
trading
activities
income. | More
from
Market Guide: Significant
Developments |
| | | | FY2001 Pay | |
| John Murphy, 61 Chairman,
Pres, CEO, Treasurer | $470K | Denise Renaghan, 44 Exec.
VP, COO, Director, and Pres of Bay State Federal | 328K | Michael Gilles, 41 Sr.
VP and CFO | 216K | Philip McNulty, 45 Sr.
VP and CLO | 196K | Dollar amounts are as of 31-Mar-2001 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|