| Business Summary | | First
Southern
Bancshares,
Inc.
is
the
holding
company
for
First
Southern
Bank,
a
state-chartered
commercial
bank.
The
Bank
conducts
its
business
through
six
office
facilities
located
in
Lauderdale
and
Colbert
Counties
in
northwestern
Alabama,
which
the
Bank
considers
as
its
primary
market
area.
The
Bank's
primary
lending
activity
is
the
origination
of
mortgage
loans
for
the
purchase
and
re-finance
of
one-
to
four-family
owner-occupied
residences.
The
Bank
also
actively
originates
commercial
loans,
construction
loans,
consumer
loans,
and
multi-family
residential
real
estate
loans,
principally
in
the
Bank's
primary
market
area,
as
part
of
its
commercial
banking
strategy.
At
December
31,
2000,
the
Company
had
total
assets
of
$167.4
million
and
total
deposits
of
$131.2
million. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | FSTH
is
a
bank
holding
company
for
First
Southern
Bank,
a
state
chartered
bank
with
six
offices
in
northwestern
Alabama.
For
the
six
months
ended
6/30/01,
total
interest
income
fell
17%
to
$6
million.
Net
interest
loss
after
loan
loss
provision
totaled
$504
thousand
vs.
an
income
of
$2
million.
Net
loss
totaled
$1.8
million,
up
from
$38
thousand.
Results
reflect
lower
average
loan
balances,
a
higher
provision
for
loan
losses
and
increased
losses
on
real
estate
and
other
assets. | More
from
Market Guide: Significant
Developments |
| | |
| Position | J. Acker Rogers, 54 | Chairman | Robert Redd, 54 | Pres,
CEO |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|