| Business Summary | | First
Independence
Corporation
is
the
holding
company
for
First
Federal
Savings
and
Loan
Association
of
Independence.
First
Federal
is
a
community-oriented
financial
institution
offering
a
variety
of
financial
services
to
meet
the
needs
of
the
communities
it
serves.
The
Company
attracts
deposits
from
the
general
public
and
uses
such
deposits,
together
with
borrowings
and
other
funds,
to
originate
one-
to
four-family
residential
mortgage
loans.
To
a
much
lesser
extent,
the
Company
also
originates
loans
secured
by
non-residential
real
estate
and
consumer
loans
and
a
limited
amount
of
loans
secured
by
multi-family
real
estate.
The
Company
invests
in
mortgage-backed
securities
that
are
insured
by
or
guaranteed
by
federal
agencies
and
other
investment
securities.
At
September
30,
1999,
the
Company
had
total
assets
of
$138.1
million. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | First
Independence
Corp.
is
a
savings
and
loan
stock
holding
company
for
First
Federal
Savings
and
Loan
Association
of
Independence.
For
the
six
months
ended
3/31/01,
total
interest
income
rose
10%
to
$6
million.
Net
interest
income
after
loan
loss
provision
rose
4%
to
$2.3
million.
Net
income
rose
8%
to
$698
thousand.
Net
interest
income
reflects
increased
average
interest
earning
assets,
partially
offset
by
higher
interest
expense.
Earnings
reflect
an
increase
in
account
fees. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Lavern Strecker, 59 Chairman | -- | Larry Spencer, 52 Pres,
CEO, | $149K | Gary Overfield, 48 Sr.
VP, Sec., and CLO | -- | James Mitchell, 45 VP
and CFO | -- | 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.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|