| Business Summary | | EFC
Bancorp,
Inc.
is
the
holding
company
for
Elgin
Financial
Savings
Bank
and
subsidiaries.
The
Bank's
principal
business
consists
of
the
acceptance
of
retail
deposits
from
the
general
public
in
the
areas
surrounding
its
full-service
branch
offices
and
the
investment
of
those
deposits,
together
with
funds
generated
from
operations
and
borrowings,
primarily
in
one
to
four-family
residential
mortgage
loans
and,
to
a
lesser
extent,
multi-family
and
commercial
real
estate
loans,
construction
and
land
loans,
commercial
business
loans,
home
equity
loans
and
automobile
and
passbook
savings
loans.
The
Bank
originates
all
of
its
loans
for
investment
and
also
invests
primarily
in
government
insured
or
guaranteed
mortgage-backed
securities
and
United
States
Government
obligations.
The
Bank's
primary
sources
of
funds
are
retail
savings
deposits
and,
to
a
lesser
extent,
advances
from
the
Federal
Home
Loan
Bank
of
Chicago. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | EFC
is
a
savings
and
loan
holding
company
for
Elgin
Financial
Center,
S.B.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
13%
to
$21.4
million.
Net
interest
income
after
loan
loss
provision
rose
3%
to
$8.4
million.
Net
income
fell
5%
to
$1.9
million.
Net
interest
income
reflects
higher
average
interest-earning
assets,
partially
offset
by
a
higher
rate
paid
on
deposits.
Net
income
suffered
from
increased
salaries
and
additional
staff. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| John Brittain, 69 Chairman
of Directors of the Company and the Bank | $197K | Barrett O'Connor, 60 Pres,
CEO, Director | 276K | Leo Flanagan, Jr., 58 Vice
Chairman of Directors of the Company and the Bank | -- | James Kovac, 51 CFO,
Exec. VP, Director and Exec. VP, Cheif Fina | 238K | R.Scott Reining, 60 Sr.
VP and Chief Commercial Lending Officer of the Bank | 133K | Dollar
amounts are as of 31-Dec-2000 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
|
|