| Business Summary | | Warwick
Community
Bancorp
is
a
bank
holding
company
organized
for
the
purpose
of
acquiring
all
of
the
outstanding
capital
stock
of
The
Warwick
Savings
Bank.
The
Company's
operations
commenced
on
December
23,
1997
and
consist
principally
of
the
operations
of
Warwick
Savings,
and,
as
of
October
26,
1999,
The
Towne
Center
Bank,
a
de
novo
commercial
bank
formed
by
the
Company.
Warwick
Savings'
principal
business
has
been
and
continues
to
be
attracting
retail
deposits
from
the
general
public
in
the
area
surrounding
its
five
branches
and
investing
those
deposits,
together
with
funds
generated
from
operations
and
borrowings,
primarily
in
one-
to
four-family
residential
mortgage
loans,
mortgage-backed
securities,
commercial
business
and
commercial
real
estate
loans,
as
well
as
various
debt
and
equity
securities.
Towne
Center's
principal
business
consists
of
taking
business
and
consumer
deposits
and
making
consumer
and
commercial
loans
in
the
areas
surrounding
its
two
branches. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Warwick
Community
Bancorp.
is
a
holding
company
for
the
Warwick
Savings
Bank
and
the
Towne
Center
Bank.
For
the
six
months
ended
6/30/01,
interest
income
rose
11%
to
$24.4
million.
Net
interest
income
after
LLP
rose
14%
to
$10.5
million.
Net
income
rose
12%
to
$2.3
million.
Net
interest
income
reflects
an
increase
in
loans
and
a
decrease
in
borrowed
funds.
Earnings
were
partially
offset
by
the
addition
of
staff
from
the
acquisition
of
the
Carmel
branch
office. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Fred Kowal, 48 Chairman,
CEO | $180K | Ronald Gentile, 51 Pres,
COO, Director | 249K | Arthur Budich, 50 CFO,
Sr. VP, Treasurer | 151K | Laurence Haggerty, 57 Sr.
VP | 144K | Donna Lyons, 45 Sr.
VP and Auditor | -- | 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
|
|