| Business Summary | | Cooperative
Bankshares,
Inc.
is
the
holding
company
for
Cooperative
Bank
for
Savings,
Inc.,
SSB,
a
state
chartered
savings
bank.
Cooperative
Bank
operates
16
financial
centers
throughout
the
coastal
and
inland
communities
of
eastern
North
Carolina.
Through
its
financial
centers,
the
bank
provides
a
wide
range
of
banking
products,
including
interest
bearing
and
non-interest
bearing
checking
accounts,
certificates
of
deposit
and
individual
retirements
accounts.
It
offers
an
array
of
loan
products:
overdraft
protection,
commercial,
consumer,
agricultural,
real
estate,
residential
mortgage
and
home
equity
loans.
Also
offered
are
safe
deposit
boxes
and
automated
banking
services
through
ATMs
and
Access24
Phone
Banking.
In
addition,
the
Bank
offers
discount
brokerage
services,
annuity
sales
and
mutual
funds
through
a
third
party
arrangement
with
UVEST
Investment
Services. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | COOP
is
the
holding
company
for
Cooperative
Bank
for
Savings,
a
state
chartered
savings
bank
with
16
offices
in
NC.
For
the
six
months
ended
6/30/01,
interest
income
rose
1%
to
$15.7
million.
Net
interest
income
after
loan
loss
provision
rose
3%
to
$5.8
million.
Net
income
rose
32%
to
$1.3
million.
Net
interest
income
reflects
higher
average
interest
earning
assets
and
a
lower
loan
loss
provision.
Net
income
also
reflects
lower
compensation
and
benefits. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Frederick Willetts, III, 51 Chairman,
Pres, CEO, Director | $240K | Todd Sammons, 39 CFO,
Sr. VP | -- | O. Burrell, Jr., 52 Exec.
VP, COO | 135K | Dickson Bridger, 42 Sr.
VP, Mortgage Lending | -- | 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
|
|