| Business Summary | | LIFE
Financial
Corporation
is
a
saving
and
loan
holding
company
that
owns
LIFE
Bank
(the
Bank),
its
principal
operating
subsidiary.
The
Company's
primary
business
is
community
retail
banking
and
real
estate
lending.
The
Bank
operates
five
full-service
branches
located
in
the
Company's
primary
market
areas
of
San
Bernardino,
Riverside,
and
Orange
Counties,
California.
The
Bank
offers
a
variety
of
products
and
services
for
consumers
and
small
businesses
that
include
checking,
savings
and
money
market
accounts,
as
well
as
certificates
of
deposit.
The
Bank
originates
and
purchases
conforming
and
jumbo
prime
credit-quality
real
estate-secured
loans
through
a
network
of
approved
mortgage
brokers
within
the
state
of
California.
In
addition,
the
Bank
originates
residential
construction
loans
on
a
retail
basis
in
Southern
California.
The
Bank
funds
its
lending
activities
primarily
with
retail
deposits
obtained
through
its
branches
and
advances
from
the
Federal
Home
Loan
Bank
of
San
Francisco. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | LFCO
is
a
savings
and
loan
holding
company
that
owns
100%
of
the
capital
stock
of
LIFE
Bank,
the
Company's
principal
operating
subsidiary.
For
the
three
months
ended
3/31/01,
interest
income
fell
36%
to
$7.5
million.
Net
interest
income
after
loan
loss
provision
fell
59%
to
$1.8
million.
Net
loss
fell
99%
to
$6
thousand.
Net
interest
income
reflects
a
decrease
in
interest
earning
assets
and
the
inclusion
of
LLP.
Lower
loss
reflects
the
absence
of
mortgage
losses. Recent Earnings Announcement For
the
3
months
ended
06/30/2001,
revenues
were
6,470;
after
tax
earnings
were
-1,251. (Preliminary; reported in thousands of dollars.) | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Ronald Skipper, 59 Chairman | -- | Steven Gardner, 40 Pres,
CEO, Chief Operating Officer | $184K | Roy Painter, 55 CFO,
Sr. VP, Sec. | 65K | 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
|
|