| Business Summary | | Service
Bancorp,
Inc.
is
engaged
in
overseeing
and
directing
the
business
of
Strata
Bank
and
investing
the
net
stock
offering
proceeds
retained
by
it.
The
Bank
is
a
community-oriented
savings
bank
engaged
primarily
in
the
business
of
offering
deposits
to
customers
through
its
eight
branch
offices
in
the
Massachusetts
towns
of
Medway,
Franklin,
Medfield,
Millis
and
Bellingham,
all
of
which
are
located
in
Norfolk
County,
Milford,
located
in
Worcester
County,
and
Hopkinton,
located
in
Middlesex
County.
The
Bank
uses
those
deposits,
together
with
funds
generated
from
operations
and
borrowings,
to
make
one-
to
four-family
residential
mortgage
loans,
commercial
real
estate
loans,
commercial
business
loans,
construction
loans
and
consumer
loans,
and
to
invest
in
mortgage-backed
and
other
securities. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Service
Bancorp.,
Inc.
is
a
bank
holding
company
for
Strata
Bank.
For
the
nine
months
ended
3/31/01,
interest
income
increased
20%
to
$11.7
million.
Net
interest
income
after
loan
loss
provision
increased
9%
to
$5.3
million.
Net
income
decreased
7%
to
$677
thousand.
Net
interest
income
after
LLP
reflects
growth
in
loans,
partially
offset
by
higher
interest
costs.
Earnings
also
reflect
increased
salaries
and
benefits
expenses. Recent Earnings Announcement For
the
3
months
ended
06/30/2001,
revenues
were
3,921;
after
tax
earnings
were
281. (Preliminary; reported in thousands of dollars.) | More
from
Market Guide: Significant
Developments |
| Officers | | | FY2000 Pay | |
| William Casey, 52 Chairman | -- | Eugene Stone, 65 Pres,
CEO, Director | $269K | Warren Chase, Jr., 53 VP,
Treasurer | -- | James Murphy, 65 Sec.,
Director | -- | 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
|
|