| Business Summary | | Sterling
Financial
Corporation
is
a
bank
holding
company
that
operates
49
banking
locations
in
south
central
Pennsylvania
and
northern
Maryland
through
its
subsidiary
banks.
The
Company's
major
source
of
operating
funds
are
dividends
that
it
receives
from
its
subsidiary
banks.
The
Company
owns
T
&
C
Leasing
Inc.,
a
nationwide
vehicle
and
equipment
leasing
company.
Bank
of
Lancaster
County,
N.A.
is
a
full-service
commercial
bank.
On
July
27,
2000,
Sterling
consummated
the
merger
with
Hanover
Bancorp,
Inc.,
parent
company
of
Bank
of
Hanover
and
Trust
Company
and
HOVB
Investment
Company.
The
companies
became
wholly
owned
subsidiaries
of
Sterling.
Bank
of
Hanover
and
Trust
Company
offers
a
wide
variety
of
banking
services
to
all
segments
of
its
service
area.
HOVB
Investment
Company's
principal
activity
is
the
holding
and
investing
in
equity
securities.
Sterling
also
owns
all
of
the
outstanding
stock
of
a
non-bank
subsidiary,
Sterling
Mortgage
Services
Inc.,
which
is
presently
inactive. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Sterling
Financial
Corp.
is
a
bank
holding
company
for
Bank
of
Lancaster
County,
N.A.,
with
31
branches
in
PA.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
7%
to
$58.5
million.
Net
interest
income
after
loan
loss
provision
fell
less
than
1%
to
$27.2
million.
Net
income
rose
3%
to
$10
million.
Net
interest
income
reflects
increased
earning
asset
balances,
offset
by
a
higher
provision
for
loan
losses.
Earnings
benefited
from
increased
securities
gains. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| John Stefan, 61 Chairman,
Pres and CEO | $316K | J. Roger Moyer, Jr., 52 Sr.
Exec. VP, COO, Assistant Sec., Director | 178K | J. Bradley Scovill, 41 Exec.
VP, Director | 216K | Jere Obetz, 52 Exec.
VP/Treasurer and CFO | 122K | Thomas Dautrich, 52 Sr.
Exec. VP | 177K | 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
|
|