| Business Summary | | Coastal
Financial
Corporation
is
the
savings
and
loan
holding
company
for
Coastal
Federal
Savings
Bank.
Coastal
Federal's
principal
business
currently
consists
of
attracting
deposits
from
the
general
public
and
using
these
funds
to
originate
conventional
one-
to
four-family
first
mortgage
loans,
consumer,
commercial
business
loans
and
commercial
real
estate
loans.
Coastal
Federal
conducts
its
business
from
its
main
office
in
Myrtle
Beach,
South
Carolina,
10
branch
offices
located
in
South
Carolina,
one
branch
office
located
in
Sunset
Beach,
North
Carolina,
and
one
branch
office
located
in
Wilmington,
North
Carolina.
At
September
30,
2000,
Coastal
Financial
had
total
assets
of
$768.8
million,
total
deposits
of
$406.2
million
and
stockholders'
equity
of
$46.9
million. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | CFCP
is
a
savings
and
loan
holding
company
for
Coastal
Federal
Savings
Bank.
For
the
nine
months
ended
6/30/01,
interest
income
increased
8%
to
$46.1
million.
Net
interest
income
after
LLP
increased
8%
to
$18.9
million.
Net
income
before
extraordinary
items
increased
18%
to
$7.4
million.
Net
interest
income
reflects
increased
interest
earning
assets,
partially
offset
by
higher
interest
paid
on
deposits.
Earnings
reflect
higher
gain
on
the
sale
of
securities. | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| James Clemmons, 62 Chairman | -- | -- | Michael Gerald, 51 Pres
and CEO | $372K | -- | Jerry Rexroad, 40 Exec.
VP and CFO | 276K | $22K | Steven Sherry, 49 Exec.
VP of Marketing | 218K | -- | Robert Douglas, 41 Exec.
VP of HR and Coastal Federal University Group | -- | -- | 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.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|