| Business Summary | | Independence
Community
Bank
Corp.
was
organized
by
Independence
Community
Bank,
for
the
purpose
of
becoming
the
parent
savings
and
loan
holding
company
of
the
Bank.
The
business
and
management
of
the
holding
company
consists
primarily
of
the
business
and
management
of
the
Bank.
The
Bank's
principal
business
is
gathering
deposits
from
customers
within
its
market
area
and
investing
those
deposits,
primarily
in
multi-family
residential
mortgage
loans,
commercial
real
estate
loans,
commercial
business
loans,
wholesale
lines
of
credit
to
mortgage
bankers,
single-family
residential
loans
(including
cooperative
apartment
loans),
consumer
loans,
mortgage-related
securities,
investment
securities
and
interest-bearing
bank
balances.
The
assets
of
the
holding
company
are
primarily
the
capital
stock
of
the
Bank,
dividends
receivable
from
the
Bank,
certain
cash
and
cash
equivalents,
and
securities
available-for-sale. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | ICBC,
a
chartered
savings
bank,
operates
32
offices
located
in
New
York
and
33
in
New
Jersey.
For
the
three
months
ended
6/30/01,
total
interest
income
rose
4%
to
$119.4
million.
Net
interest
income
after
loss
provision
fell
1%
to
$56.4
million.
Net
income
rose
39%
to
$20.2
million.
Net
interest
income
reflects
higher
interest
earning
assets,
partially
offset
by
a
higher
loan
loss
provision.
Net
income
reflects
increased
mortgage
banking
activities
income. | More
from
Market Guide: Significant
Developments |
| | | | FY2001 Pay | |
| Charles Hamm, 64 Chairman | $707K | Alan Fishman, 55 Pres,
CEO | 3.4M | Donald Karp, 64 Vice
Chairman | -- | Victor Richel, 63 Vice
Chairman | -- | John Zurell, 58 CFO,
Exec. VP | 314K | 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
|
|