| Business Summary | | Cumberland
Mountain
Bancshares
Inc.
is
the
holding
company
for
Middlesboro
Federal
Bank,
Federal
Savings
Bank.
The
Company
has
no
significant
assets
other
than
all
of
the
outstanding
shares
of
the
Bank,
and
the
portion
of
the
net
proceeds
from
the
offering
retained
by
the
Company.
Middlesboro
Federal
is
a
federally
chartered
stock
savings
bank
primarily
engaged
in
attracting
deposits
from
the
general
public
through
its
offices
and
using
those
and
other
available
sources
of
funds
to
originate
loans
secured
by
single-family
residences
located
in
the
counties
where
its
offices
are
located. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | CMBN
is
a
bank
holding
company
for
Middlesboro
Federal
Bank,
a
federal
savings
bank.
For
the
nine
months
ended
3/31/01,
interest
income
fell
1%
to
$7.3
million.
Net
interest
income
after
loan
loss
provison
decreased
42%
to
$1.6
million.
Net
loss
totalled
$682
thousand,
vs.
an
income
of
$408
thousand.
Results
reflect
lower
interest
income
from
mortgage-backed
securities,
increased
loan
loss
provision,
and
higher
deposit
account
expenses. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY2000 Pay | |
| J. Roy Shoffner, 72 Chairman
and CEO | -- | James Shoffner, 39 Pres | $115K | Barry Litton, 49 Vice
Chairman | -- | Reecie Stagnolia, Jr., 64 Director
and VP and the Branch Mang. and Loan Officer at the Cumberland Branch of the | -- | J. Howard, 39 Sr.
VP, CFO of the Bank and Sec. & Treasurer of the Company | -- | 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
|
|