| Business Summary | | Heritage
Bankshares,
Inc.
operates
as
a
bank
holding
company
for
Heritage
Bank
&
Trust
(the
Bank).
The
Bank
is
engaged
in
the
general
commercial
and
retail
banking
business.
The
cities
of
Norfolk
and
Chesapeake,
Virginia
constitute
the
primary
service
area
of
the
Bank
and,
to
a
lesser
extent,
the
Bank
includes
the
remaining
areas
of
Hampton
Roads
in
its
market
area.
IBV
Real
Estate
Holdings,
Inc.
is
a
corporation
formed
for
the
sole
purpose
of
owning
additional
real
estate
assets
acquired
by
the
Company
or
the
Bank.
Sentinel
Trust
Services,
L.L.C.
is
a
wholly
owned
subsidiary
of
the
Company.
Sentinel
Title
Services,
Inc.
is
a
wholly
owned
subsidiary
of
the
Bank.
These
entities
own
an
interest
in
providers
of
various
insurance
products
and
trust
services.
The
strategic
relationship
with
these
entities
provides
the
Bank
with
the
ability
to
provide
these
services
to
its
customers. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Heritage
Bankshares,
Inc.
is
the
holding
company
for
Heritage
Bank
and
Trust.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
7%
to
$3.9
million.
Net
interest
income
after
loan
loss
provision
rose
less
than
1%
to
$2
million.
Net
income
rose
less
than
1%
to
$573
thousand.
Net
interest
income
reflects
growth
in
the
companies
loan
portfolio,
partially
offset
by
increased
interest
on
deposits.
Earnings
suffered
from
increased
salaries
and
benefits
to
employees. | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| Peter Meredith, Jr., 49 Chairman | -- | -- | Robert Keogh, 52 Pres,
CEO, Director | $161K | $22K | Henry Harris, lll, 49 Vice
Chairman | -- | -- | 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.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|