| Business Summary | | WebFinancial
Corporation
provides
commercial
and
consumer
specialty
finance
transactions
utilizing
United
States
Government
credit
enhancement
through
its
subsidiariary,
WebBank.
WebBank's
business
includes
private
label
credit
card,
e-commerce
credit
card,
United
States
Department
of
Agriculture
(USDA)
business
and
industry
lending,
structured
settlement
lending
and
payday
advance.
The
Company
also
owns
Rose's
Stores
Inc.,
an
operator
of
general
merchandise
discount
stores;
WebFinancial
Holdings
Corporation,
a
wholly
owned
subsidiary;
Praxis
Investment
Advisers
Inc.;
WebFinancial
Government
Lending,
Inc.,
which
concentrates
on
holding
and
servicing
USDA
Loans;
and
Web
Film
Finance
Inc.,
which
is
now
discontinued. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | WEFN
owns
a
90%
interest
in
WebBank,
which
engages
in
commercial
finance
transactions,
and
Praxis,
which
provides
research
and
development
in
creating
financial
products.
For
the
six
months
ended
6/30/01,
total
interest
income
fell
2%
to
$934
thousand.
Net
interest
loss
after
loan
loss
prov.
totaled
$206
thousand
vs.
an
income
of
$385
thousand.
Net
loss
totaled
$816
thousand
vs.
an
income
of
$161
thousand.
Results
reflect
lower
earning
assets,
a
higher
loan
loss
provision
and
lower
fee
income. | More
from
Market Guide: Significant
Developments |
| | |
| Position | Warren Lichtenstein, 35 | Pres,
CEO | Glen Kassan, 57 | CFO,
VP, Sec. | James Henderson, 42 | VP-Operations | Jack Howard, 39 | VP,
Director |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|