| Business Summary | | Northway
Financial,
Inc.
is
the
holding
company
for
The
Berlin
City
Bank
(BCB),
a
state-chartered
bank,
and
Pemigewasset
National
Bank
(PNB),
a
national
bank.
The
Company,
and
BCB
and
PNB
(collectively,
the
Banks)
derive
substantially
all
of
their
revenue
and
income
from
the
furnishing
of
bank
and
bank-related
services,
principally
to
individuals,
and
small
and
mid-sized
companies
in
New
Hampshire.
The
Banks
operate
as
typical
community-banking
institutions,
and
do
not
engage
in
any
specialized
finance
or
capital
market
activities.
The
Company
functions
primarily
as
its
subsidiaries'
stockholder
and,
as
appropriate,
assists
in
the
management
of
its
subsidiaries. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Northway
Financial,
Inc.
is
a
holding
company
for
The
Berlin
City
Bank
and
Pemigewasset
Bancorp,
Inc.
For
the
six
months
ended
6/30/01,
total
interest
income
fell
less
than
1%
to
$18
million.
Net
interest
income
after
loan
loss
provision
fell
2%
to
$9.7
million.
Net
income
decreased
4%
to
$1.9
million.
Net
interest
income
reflects
lower
interest
on
securities,
and
increased
interest
costs
on
deposits.
Earnings
also
reflect
increased
equipment
costs. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| William Woodward, 55 Chairman,
Pres and CEO | $292K | Fletcher Adams, 64 Vice
Chairman | -- | George Fredette, 41 CFO,
Sr. VP | 127K | Lawrence Bessinger, 55 Sr.
VP | -- | James Brannen, 40 Sr.
VP | -- | 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
|
|