| Business Summary | | SouthBanc
Shares,
Inc.
was
organized
for
the
purpose
of
becoming
the
holding
company
for
Perpetual
Bank,
a
Federal
Savings
Bank.
The
Company
is
primarily
engaged
in
the
business
of
attracting
deposits
from
the
general
public,
and
originating
mortgage
loans,
which
are
secured
by
one-
to
four-family
residential
properties,
or
investing
in
mortgage-backed
securities.
To
a
lesser
extent,
the
Company
originates
loans
secured
by
commercial
real
estate,
as
well
as
commercial
business
and
consumer
loans.
Anderson,
Oconee,
Laurens,
Greenwood
and
Greenville
Counties,
South
Carolina,
are
SouthBanc's
primary
market
area. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | SBAN,
a
stock
holding
co.
for
Perpetual
Bank,
FSB,
operates
as
a
community
oriented
bank
attracting
retail
deposits
and
originating
real
estate
loans.
For
the
nine
months
ended
6/01,
total
int.
income
rose
84%
to
$37.2
million.
Net
int.
income
after
loan
loss
prov.
rose
50%
to
$12.8
million.
Net
income
rose
59%
to
$6.1
million.
Net
interest
income
reflects
a
higher
loan
balances,
partially
offset
by
a
higher
cost
of
funds.
Net
income
reflects
a
higher
gain
on
investments. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| J. Edward Wells, 61 Chairman | -- | Robert Orr, 53 Pres,
CEO and a Director | $190K | Harold Pickens, Jr., 67 Vice
Chairman | -- | Thomas Hall, 53 CFO,
Sr. VP, Treasurer | 161K | Barry Visioli, 52 Sr.
VP | 141K | Dollar
amounts are as of 30-Sep-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
|
|