| Business Summary | | SVB
Financial
Services,
Inc.
is
a
bank
holding
company,
created
for
the
purpose
of
acquiring
Somerset
Valley
Bank
(the
Bank).
The
Bank
provides
a
wide
range
of
commercial
and
consumer
banking
services.
Deposit
services
include
business
and
personal
checking
accounts,
interest-bearing
NOW
accounts,
Money
Market
deposit
accounts,
savings
accounts
and
certificates
of
deposit.
In
order
to
compete
with
the
larger
banks
for
deposit
accounts,
the
Bank
gives
favorable
terms,
including
interest
rates,
minimum
balances
and
service
charges.
As
of
December
31,
2000,
the
Bank
had
$222.4
million
in
deposits
and
approximately
17,400
deposit
accounts.
At
the
same
date,
the
Bank
had
total
assets
of
$241.6
million. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | SVB
Financial
Services
is
a
bank
holding
company
for
Somerset
Valley
Bank,
which
operates
commercial
banks
in
New
Jersey.
For
the
six
months
ended
6/30/01,
interest
income
rose
17%
to
$9.9
million.
Net
interest
income
after
loan
loss
provision
rose
8%
to
$5
million.
Net
income
increased
26%
to
$769
thousand.
Net
interest
income
after
LLP
reflects
loan
growth,
partially
offset
by
increased
interest
costs.
Earnings
benefitted
from
increased
service
charges. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| John Kitchen, 57 Chairman | -- | Robert Corcoran, 60 Pres,
CEO | $218K | Keith McCarthy, 43 COO,
Sec., Treasurer | 148K | Arthur Brattlof, 57 Exec.
VP and CLO of the Bank | 134K | 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
|
|