| Business Summary | | Liberty
Bancorp,
Inc.
was
formed
for
the
purpose
of
acting
as
the
holding
company
for
Liberty
Bank
(the
Bank).
The
Company's
principal
business
is
overseeing
and
directing
the
business
of
the
Bank
and
investing
the
net
stock
offering
proceeds
retained
by
it.
The
Bank
has
traditionally
operated
as
a
community-oriented
lender,
offering
various
mortgage
and
consumer
loan
products.
The
Bank
is
primarily
engaged
in
the
business
of
offering
savings
and
other
FDIC-insured
deposits
to
the
general
public,
and
using
those
funds
to
originate
loans
secured
by
one-
to
four-family
residences
and
commercial
real
estate
located
in
the
New
Jersey
counties
of
Union
and
Middlesex. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | LIBB
is
a
bank
holding
company
for
Liberty
Bank,
a
federally
chartered
bank
with
six
offices
in
Union
and
Middlesex
Counties,
NJ.
For
the
six
months
ended
6/01,
total
interest
income
rose
8%
to
$10.5
million.
Net
interest
income
after
loan
loss
prov.
rose
2%
to
$3.9
million.
Net
income
fell
27%
to
$461
thousand.
Net
interest
income
reflects
higher
average
loan
balances,
partially
offset
by
higher
interest
expenses.
Earnings
reflect
increased
salaries
and
depreciation
costs. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| John Bowen, 60 Chairman,
Pres, CEO | $238K | Michael Widmer, 41 COO,
Chief Financial Officer, Exec. VP, Director | 151K | Daniel Bennett, 49 VP | -- | Lucille Capece, 56 VP | -- | Paula Palermo, 41 VP | -- | 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
|
|