| Business Summary | | Commonwealth
Bancorp,
Inc.
is
the
holding
company
for
Commonwealth
Bank,
a
federally
chartered
bank
that
conducts
business
from
its
executive
offices
in
Norristown,
Pennsylvania,
and
60
full-service
branches
located
in
southeast
Pennsylvania.
The
subsidiaries
of
the
Company
are
CFSL
Investment
Corporation,
Commonwealth
Bank,
Commonwealth
Investment
Corporation
Of
Delaware,
Inc.,
CS
Corporation,
Firstcor,
Ltd.
and
Tyler
Wealth
Counselors,
Inc.
The
Company's
loans
consist
primarily
of
conventional
loans
that
are
secured
by
first
liens
on
single-family
residences.
The
Company's
loan
portfolio
also
consists
of
consumer
loans
and
commercial
loans.
Deposits
are
the
primary
source
of
the
Company's
funds
for
lending
and
other
investment
purposes.
In
addition
to
deposits,
the
Company
derives
funds
from
loan
principal
repayments
and
prepayments,
advances
from
the
FHLB
of
Pittsburgh,
securities
sold
under
agreements
to
repurchase
and
commercial
repurchase
agreements. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Commonwealth
Bancorp
is
a
bank
holding
company
for
Commonwealth
Bank,
a
federally
chartered
bank
with
60
offices
in
Pennsylvania.
For
the
six
months
ended
6/30/01,
total
interest
income
fell
3%
to
$65.3
million.
Net
interest
income
after
loan
loss
prov.
fell
6%
to
$32.3
million.
Net
income
fell
25%
to
$5.4
million.
Results
reflect
lower
interest
on
mortgage
securities,
higher
provision
for
loan
losses
and
increased
charges
for
the
sale
of
mortgage
loans. | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| Charles Meacham, 54 Chairman | $560K | $175K | Patrick Ward, 45 Pres,
CEO | 353K | -- | Charles Johnston, 45 CFO,
Sr. VP | -- | -- | Brian Zwaan, 42 Exec.
VP and CLO | 208K | -- | David Griest, 49 Sr.
VP of Information Services | -- | -- | 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
|
|