| Business Summary | | Bank
West
Financial
Corporation
was
organized
by
Bank
West
for
the
purpose
of
becoming
a
unitary
holding
company
of
the
Bank.
Bank
West
is
a
stock
savings
bank
that
conducts
business
from
five
offices
located
in
Grand
Rapids,
Michigan.
Bank
West
is
primarily
engaged
in
attracting
deposits
from
the
general
public
through
its
offices
and
using
those
and
other
available
sources
of
funds
to
originate
one-
to
four-family
residential
and
commercial
loans
located
in
the
western
Michigan
area.
The
Company's
market
area
consists
of
western
Michigan,
with
its
primary
market
area
consisting
of
Grand
Rapids,
Michigan
and
the
surrounding
metropolitan
statistical
area. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | BWFC
is
a
bank
holding
company
for
Bank
West,
a
state
chartered
bank
with
three
offices
in
Grand
Rapids,
Michigan.
For
the
nine
months
ended
3/31/01,
total
interest
income
rose
31%
to
$16.5
million.
Net
interest
income
after
loan
loss
provision
rose
10%
to
$5.1
million.
Net
income
rose
54%
to
$1.1
million.
Net
interest
income
reflects
increased
average
loan
outstanding,
partially
offset
by
lower
net
interest
margin.
Earnings
benefitted
from
higher
mortgage
banking
gains. Recent Earnings Announcement For
the
3
months
ended
06/30/2001,
after
tax
earnings
were
120. (Preliminary; reported in thousands of dollars.) | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Robert Stephan, 64 Chairman | -- | Ronald Van Houten, 64 Pres
and CEO | $15K | Kevin Twardy, 33 VP
and CFO | -- | James Koessel, 52 Sr.
VP of Mortgage Lending of the Bank and Sec. | -- | Louis Knooihuizen, 50 VP
of Commercial Lending | -- | Dollar amounts are as of 30-June-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
|
|