| Business Summary | | Advance
Financial
Bancorp
is
a
unitary
savings
and
loan
holding
company.
The
Company
conducts
no
significant
business
or
operations
of
its
own
other
than
holding
all
of
the
outstanding
stock
of
Advance
Financial
Savings
Bank.
The
Bank
is
a
federally
chartered
stock
savings
bank
headquartered
in
Wellsburg,
West
Virginia.
The
Bank
operates
a
traditional
savings
bank
business,
attracting
deposit
accounts
from
the
general
public
and
using
those
deposits,
together
with
other
funds,
primarily
to
originate
and
invest
in
loans
secured
by
one-
to
four-family
residential
real
estate,
non-residential
real
estate,
and
commercial
loans.
To
a
lesser
extent,
the
Bank
also
originates
multi-family
real
estate
loans
and
consumer
loans.
As
of
June
30,
2000,
the
Company
had
total
assets
of
$145.3
million,
total
deposits
of
$118.9
million,
and
total
stockholders'
equity
of
$15.1
million. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | AFBC
is
a
holding
company
for
Advance
Financial
Savings
Bank,
a
federally
chartered
stock
savings
bank
that
attracts
deposit
accounts
and
invests
in
RE
secured
loans.
For
the
nine
months
ended
3/01,
interest
income
rose
14%
to
$9
million.
Net
interest
income
after
loss
prov.
rose
3%
to
$3.7
million.
Net
income
rose
9%
to
$689
thousand.
Net
interest
income
reflects
higher
average
balances,
partially
offset
by
higher
interest
on
deposits.
Earnings
benefited
from
higher
service
charges. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY2000 Pay | |
| Stephen Gagliardi, 52 Pres,
CEO | $149K | Marc DeSantis, 38 VP
of Investor Relations | -- | Steven Martino, 45 VP | -- | Stephen Magnone, 38 Treasurer | -- | Florence McAlpine, 53 Corp.
Sec. | -- | 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
|
|