| Business Summary | | Berkshire
Bancorp
Inc.
is
a
bank
holding
company.
The
Company
has
one
wholly
owned
banking
subsidiary,
The
Berkshire
Bank,
a
chartered
commercial
bank
(the
Bank).
The
Bank's
principal
business
consists
of
gathering
deposits
from
the
general
public
and
investing
those
deposits
primarily
in
loans,
debt
obligations
issued
by
the
United
States
Government,
its
agencies
and
business
corporations
and
mortgage-backed
securities.
The
Bank
operates
from
two
deposit-taking
offices
in
New
York
City.
The
Bank's
principal
loan
types
are
residential
and
commercial
mortgage
loans
and
commercial
non-mortgage
loans,
both
unsecured
and
secured
by
personal
property.
The
Bank's
revenues
come
principally
from
interest
on
loans
and
investment
securities.
Its
primary
sources
of
funds
are
deposits
and
proceeds
from
principal
and
interest
payments
on
loans
and
investment
securities. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Bershire
Bancorp
Inc.
is
the
holding
Company
for
The
Berkshire
Bank,
a
NY
state
chartered
commercial
bank
primarily
in
the
NYC
metropolitan
area.
For
the
six
months
ended
6/01,
interest
income
rose
58%
to
$10.5
million.
Net
interest
income
after
LLP
rose
18%
to
$5.2
million.
Earnings
fell
86%
to
$1.3
million.
Net
interest
income
reflects
higher
earning
assets,
partially
offset
by
lower
net
interest
margin.
Lower
income
reflects
the
absence
of
a
$13.1
million
gain
on
sale
of
securities. | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| Steven Rosenberg, 52 Pres,
CEO, Chief Financial Officer, Director | $125K | $338K | David Lukens, 51 Sr.
VP, Chief Financial officer of The Berkshire Bank | 104K | -- | Moses Krausz, 60 Pres
of The Berkshire Bank | 310K | -- | 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
|
|