| Business Summary | | Central
Bancorp,
Inc.
is
a
registered
bank
holding
company.
It
was
organized
by
Central
Co-operative
Bank
(the
Bank)
to
acquire
all
of
the
capital
stock
of
the
Bank
as
part
of
its
reorganization
into
the
holding
company
form
of
ownership.
The
Company.
The
Company
has
no
significant
assets
other
than
the
Common
Stock
of
the
Bank
and
various
other
liquid
assets,
in
which
it
invests
in
the
ordinary
course
of
business.
The
primary
business
of
the
Bank
is
to
acquire
funds
in
the
form
of
deposits
and
use
the
funds
to
make
mortgage
loans
for
the
construction,
purchase
and
refinancing
of
residential
properties,
and
to
a
lesser
extent,
to
make
loans
on
commercial
real
estate
in
its
market
area. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Central
Bancorp
is
a
bank
holding
company
for
Central
Co-operative
Bank,
operating
nine
offices
in
Massachusetts.
For
the
three
months
ended
6/30/01,
total
interest
income
rose
5%
to
$7.6
million.
Net
interest
income
after
LLP
fell
6%
to
$3.2
million.
Net
income
fell
31%
to
$530
thousand.
Net
interest
income
reflects
higher
interest
earning
assets,
offset
by
higher
deposits.
Earnings
also
suffered
from
increases
in
salaries,
benefits
and
data
processing
costs. | More
from
Market Guide: Significant
Developments |
| | | | FY2001 Pay | |
| Joseph Doherty, 77 Chairman | -- | John Doherty, 43 Pres,
CEO | $343K | Paul Feeley, 54 Sr.
VP, Treasurer and CFO | 151K | David Kearn, 59 Sr.
VP - Retail Banking and Sr. Loan | 171K | William Morrissey, 73 Sr.
VP | 151K | Dollar
amounts are as of 31-Mar-2001 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
|
|