| Business Summary | | First
Niles
Financial,
Inc.
is
a
savings
and
loan
holding
company.
Its
activities
are
primarily
limited
to
holding
the
stock
of
the
Home
Federal
Savings
and
Loan
Association
of
Niles.
Home
Federal
is
a
community-oriented
financial
institution
serving
the
Niles,
Ohio,
area
through
its
one
office
located
in
Niles.
It
provides
financial
services
to
individuals,
families
and
small
businesses.
Home
Federal's
principal
business
consists
of
attracting
retail
deposits
from
the
general
public
and
investing
those
funds
primarily
in
permanent
and
construction
loans
secured
by
first
mortgages
on
one-
to
four-family
residences.
Home
Federal's
primary
sources
of
funds
are
deposits,
repayments
and
prepayments
of
loans
and
securities
and
interest
income.
The
Company's
investment
securities
consist
primarily
of
mutual
funds
and
United
States
agency
securities. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | FNFI
is
a
holding
company
for
Home
Federal
Savings
and
Loan
Association,
which
originates
mortgages
on
one-to
four-family
residences.
For
the
six
months
ended
6/30/01,
interest
income
rose
13%
to
$2.9
million.
Net
interest
income
after
loan
loss
prov.
rose
less
than
1%
to
$1.4
million.
Net
income
rose
46%
to
$299
thousand.
Net
interest
income
reflects
increased
earning
assets,
partially
offset
by
increased
borrowings.
Earnings
reflect
increased
investment
gains. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY2000 Pay | |
| William Stephens, 69 Chairman,
CEO, Pres, | $182K | George Swift, 78 Director,
VP and Sec. | 182K | Lawrence Safarek, 50 VP
and Treasurer | -- | 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
|
|