| Business Summary | | Tower
Bancorp,
Inc.
is
the
holding
company
for
The
First
National
Bank
of
Greencastle
(First).
Tower's
primary
activity
consists
of
owning
and
supervising
its
subsidiary,
First,
which
is
engaged
in
providing
banking
and
bank-related
services
in
South
Central
Pennsylvania,
principally
Franklin
County,
where
its
five
branches
are
located
in
Quincy,
Shady
Grove,
Waynesboro,
Mercersburg
and
Laurich,
as
well
as
its
main
office
in
Greencastle,
Pennsylvania.
As
of
December
31,
2000,
First
had
total
assets
of
approximately
$
225
million,
total
shareholders'
equity
of
approximately
$
26.6
million
and
total
deposits
of
approximately
$
177
million. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | TOBC
is
a
bank
holding
Co.
for
The
First
National
Bank
of
Greencastle,
a
state
chartered
bank
with
five
branches
in
South
Central
PA.
For
the
three
months
ended
3/31/01,
total
interest
income
rose
11%
to
$4.1
million.
Net
interest
income
after
loan
loss
prov.
rose
8%
to
$2.2
million.
Net
income
rose
29%
to
$1.1
million.
Interest
income
reflects
higher
loan
volume
and
rates,
partially
offset
by
a
lower
interest
spread.
Earnings
reflect
increased
service
charges
and
securities
gains. | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| Kermit Hicks, 65 Chairman | -- | -- | Jeff Shank, 45 Pres,
Director | $144K | $14K | Harold Gayman, 74 Vice
Chairman | -- | -- | John McDowell, 51 Exec.
VP | -- | -- | Donald Chlebowski, Jr., 42 VP | -- | -- | 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.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|