| Business Summary | | Gaston
Federal
Bancorp,
Inc.
was
formed
for
the
purpose
of
acting
as
the
holding
company
for
Gaston
Federal
Bank
(the
Bank).
The
Company's
assets
consist
primarily
of
the
outstanding
capital
stock
of
the
Bank,
and
cash
and
investments
of
$3.1
million.
The
Bank
is
a
community-oriented
savings
bank
engaged
primarily
in
the
business
of
offering
FDIC-insured
deposits
to
customers
through
its
branch
offices,
and
investing
those
deposits,
together
with
funds
generated
from
operations
and
borrowings,
in
one-
to
four-family
residential,
multifamily
residential
and
commercial
real
estate
loans,
commercial
business
loans,
construction
and
consumer
loans,
and
investment
and
mortgage-backed
securities. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Gaston
Federal
Bancorp
is
a
bank
holding
company
for
Gaston
Federal
Bank,
a
federally
chartered
savings
bank
with
six
offices
in
Gaston
County,
North
Carolina.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
5%
to
$8.6
million.
Net
interest
income
after
loan
loss
prov.
fell
10%
to
$3.2
million.
Net
income
fell
5%
to
$1
million.
Results
reflect
increased
interest
paid
on
deposits,
partially
offset
by
increased
service
charges
on
deposit
accounts. | More
from
Market Guide: Significant
Developments |
| | |
| Position | David Hoyle, 61 | Chairman | Kim Price, 45 | Pres,
CEO, Director | Ben Rudisill, ll, 57 | Vice
Chairman | Paul Teem, Jr., 52 | Exec.
VP, CAO, Sec. | Gary Hoskins, 37 | Sr.
VP, Treasurer, CFO |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|