| Business Summary | | Surety
Capital
Corporation
is
a
bank
holding
company
for
Surety
Bank,
National
Association
(the
Bank).
The
Bank
provides
retail
and
commercial
banking
services
to
its
customers,
including
checking
and
savings
accounts,
time
deposits,
IRAs,
money
transfers,
safe
deposit
facilities,
commercial
loans,
real
estate
mortgage
loans,
consumer
loans
and
night
depository
facilities.
The
Bank
also
specializes
in
IPF
(insurance
premium
financing)
lending.
As
of
December
31,
2000
commercial
loans,
real
estate
loans,
consumer
loans
and
IPF
loans
represented
18.30%,
62.49%,
9.24%
and
9.97%
of
the
Company's
total
loan
portfolio,
respectively.
The
Bank
has
full-service
offices
in
Converse,
Fort
Worth,
New
Braunfels,
San
Antonio,
Schertz,
Universal
City
and
Whitesboro,
Texas.
The
Bank
also
received
regulatory
approval
to
establish
two
mobile
branches
to
serve
Dallas,
Tarrant,
Bexar
and
Travis
counties,
and
anticipates
that
these
mobile
branches
will
begin
operations
in
the
second
quarter
of
2001. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Surety
Capital
Corp.
is
the
bank
holding
company
for
Surety
Bank,
N.A.,
a
federally
chartered
bank
with
eight
branches
in
TX.
For
the
six
months
ended
6/30/01,
total
interest
income
fell
4%
to
$3.5
million.
Net
interest
income
after
loan
loss
provision
fell
9%
to
$1.8
million.
Net
loss
fell
7%
to
$543
thousand.
Results
reflect
lower
average
loan
balances
and
increased
interest
paid
on
deposits,
offset
by
lower
operating
expenses
due
to
cost
cutting
initiatives. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY1999 Pay | |
| Richard Abrams, 58 Chairman,
CEO | -- | Lloyd Butts, 59 Pres,
Director | $127K | John Blackmon, 55 Sr.
VP, CFO, Sec. | -- | Dollar amounts are as of 31-Dec-1999 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
|
|