| Business Summary | | Farnsworth
Bancorp,
Inc.
was
organized
at
the
direction
of
Peoples
Savings
Bank
to
acquire
all
of
the
capital
stock
that
the
Bank
issued
in
its
conversion
from
the
mutual
to
stock
form
of
ownership.
The
Company
is
a
unitary
savings
and
loan
holding
company
and
conducts
no
significant
business
or
operations
of
its
own
other
than
holding
all
of
the
outstanding
stock
of
the
Bank
and
investing
the
Company's
portion
of
the
net
proceeds
obtained
in
the
Conversion.
The
Bank
operates
a
traditional
savings
bank
business,
attracting
deposit
accounts
from
the
general
public
and
using
those
deposits,
together
with
other
funds,
primarily
to
originate
and
invest
in
loans
secured
by
one-
to
four-family
residential
real
estate. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Farnsworth
Bancorp
is
a
unitary
savings
and
loan
holding
company.
For
the
nine
months
ended
6/30/01,
interest
income
rose
4%
to
$3
million.
Net
interest
income
after
loan
loss
provision
fell
5%
to
$1.3
million.
Net
income
fell
96%
to
$4
thousand.
Net
interest
income
reflects
an
increase
in
interest
earning
assets,
offset
by
an
increase
in
interest
on
deposits.
Earnings
reflect
increased
compensation
and
benefits
costs
and
increased
occupancy
and
equipment
costs. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Herman Gutstein, 87 Chairman | -- | Gary Pelehaty, 47 Pres,
Chief Exec. Officer | $147K | Edgar Peppler, 64 Vice
Chairman | -- | Charles Alessi, 38 VP,
Chief Financial Officer, Sec. and Treasurer | -- | Dollar
amounts are as of 30-Sep-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
|
|