| Business Summary | | First
Mutual
Bancshares,
Inc.
is
the
bank
holding
company
for
First
Mutual
Bank
(the
Bank).
The
Bank's
business
consists
of
attracting
deposits
from
the
general
public,
as
well
as
wholesale
funding
sources
and
investing
those
funds
primarily
in
commercial
and
residential
real
estate
loans,
business
loans,
loans
secured
by
savings
accounts
and
consumer
loans.
The
Bank
also
invests
in
federal
government
and
agency
obligations;
structured
notes;
real
estate
mortgage
investment
conduits
(REMICs);
mortgage-backed
securities,
and
corporate
and
municipal
securities.
In
addition
to
portfolio
lending,
the
Bank
conducts
mortgage-banking
activities
that
encompass
the
selling
of
primarily
fixed-rate
loans
into
the
secondary
mortgage
market.
The
Bank
generally
sells
the
right
to
service
the
loans
sold
(collection
of
principal
and
interest
payments)
for
which
it
receives
a
fee. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | FMSB,
a
holding
co.,
is
a
savings
bank
offering
a
variety
of
saving
products
to
retail
customers
while
concentrating
its
lending
activities
on
real
estate
loans.
For
the
six
months
ended
6/30/01,
interest
income
rose
11%
to
$27.1
million.
Net
interest
income
after
LLP
rose
3%
to
$10.2
million.
Net
income
before
acct.
change
rose
11%
to
$3.6
million.
Results
reflect
increased
interest
earning
assets,
and
higher
gain
on
the
sale
of
loans. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| F. Kemper Freeman, Jr., 59 Chairman | -- | John Valaas, 56 Pres,
CEO | $268K | H. Scott Wallace, 74 Vice
Chairman | -- | Roger Mandery, 58 Exec.
VP, Treasurer | 212K | James Boudreau, 53 Exec.
VP | 193K | 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
|
|