| Business Summary | | Firstbank
Corporation
is
a
bank
holding
company.
The
Company
owns
all
of
the
outstanding
stock
of
Firstbank
-
Alma,
Firstbank
(Mount
Pleasant),
Firstbank
-
West
Branch,
Firstbank
-
Lakeview,
Firstbank
-
St.
Johns
and
Gladwin
Land,
Co.
The
Company's
business
is
concentrated
in
commercial
banking.
Each
subsidiary
bank
of
the
Company
is
a
full-service
community
bank.
The
subsidiary
banks
offer
all
customary
banking
services,
including
the
acceptance
of
checking,
savings
and
time
deposits,
and
the
making
of
commercial,
mortgage,
home-improvement,
automobile
and
other
consumer
loans.
Firstbank
-
Alma
also
offers
trust
services.
The
Company
has
investment
securities
that
include
United
States
Treasury,
United
States
Government
agencies,
states
and
political
subdivisions,
mortgage-backed
securities,
corporate
and
other.
The
principal
sources
of
revenues
for
the
Company
and
its
subsidiaries
are
interest
and
fees
on
loans. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Firstbank
Corporation
is
a
bank
holding
company
for
Bank
of
Alma,
Firstbank,
1st
Bank
and
Bank
of
Lakeview.
The
subsidiaries
of
the
company
are
all
full
service
community
banks.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
11%
to
$28.6
million.
Net
interest
income
after
loan
loss
prov.
rose
7%
to
$14.6
million.
Net
income
fell
5%
to
$4
million.
Results
reflect
an
increase
in
average
interest
earning
loans,
offset
by
higher
interest
on
deposits
and
personnel
expenses. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY2000 Pay | |
| William Goggin, 55 Chairman | -- | Thomas Sullivan, 50 Pres,
CEO, Director | $227K | Samuel Stone, 55 VP,
CFO, Sec., Treasurer | -- | William Benear, 54 VP | 130K | David Miller, 35 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.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|