| Business Summary | | VIB
Corp
was
incorporated
on
November
7,
1997
at
the
direction
of
the
Board
of
Directors
of
Valley
Independent
Bank
(VIB)
for
the
purpose
of
becoming
the
Bank's
holding
company.
The
Company
has
since
acquired
the
Bank
of
Stockdale,
F.S.B.
(Stockdale),
a
federal
stock
savings
bank
headquartered
in
Bakersfield,
California;
and
Kings
River
State
Bank
(Kings
River),
a
state-chartered
bank
headquartered
in
Reedley,
California.
In
addition,
the
Company
has
formed
several
subsidiaries,
including
Valley
Capital
Trust
(the
Trust),
which
was
formed
in
1998;
a
wholly
owned
common
law
trust
subsidiary,
VIBC
Capital
Trust
I
(Trust
I),
which
was
formed
in
2000;
and,
also
formed
in
2000,
VIBC
Services
Company. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | VIB
Corp.
is
a
holding
company
for
Valley
Independent
Bank,
the
Bank
of
Stockdale,
F.S.B.
and
Kings
River
State
Bank.
For
the
six
months
ended
6/30/01,
interest
income
rose
5%
to
$43.7
million.
Net
interest
income
after
loan
loss
provision
rose
7%
to
$22.5
million.
Earnings
rose
15%
to
$4.4
million.
Net
interest
income
benefited
from
growth
in
loans,
and
improved
interest
margins.
Earnings
also
reflect
$1.5
million
in
gains
on
the
sale
of
securities. | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| Richard Foss, 61 Chairman
of Directors | -- | -- | Dennis Kern, 61 Pres,
CEO, Director | $308K | -- | Alice Lowery Westerfield, 72 Vice
Chairman of Directors | -- | -- | Ronald Pedersen, 67 Vice
Chairman of Directors | -- | -- | Harry Gooding, III, 53 CFO,
Exec. VP | 163K | $6.9K | 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
|
|