| Business Summary | | Progress
Financial
Corporation
is
a
diversified
financial
services
company.
The
Company
has
four
principal
activities,
Banking,
Equipment
Leasing,
Private
Equity
Fund
Management
and
Insurance/Wealth
Management.
The
Company
owns
all
of
the
outstanding
stock
of
Progress
Bank,
a
federally
chartered
savings
bank.
The
Company
is
a
diversified
financial
services
company
providing
a
full
range
of
banking
services
with
an
emphasis
on
commercial
business
loans
and
leases
to
small
and
medium-sized
businesses,
commercial
real
estate
loans
and
to
a
lesser
scope,
residential
construction
and
consumer
lending,
funded
primarily
by
customer
deposits. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Progress
Financial
is
a
bank
holding
company
for
Progress
Bank,
a
federally-chartered
savings
bank.
For
the
six
months
ended
6/01,
total
interest
income
rose
8%
to
$34.2
million.
Net
interest
income
after
loan
loss
prov.
fell
13%
to
$11.5
million.
Net
loss
from
continuing
operations
totaled
$944
thousand
vs.
an
income
of
$2.5
million.
Results
reflects
higher
mortgage
backed
securities
income,
offset
by
a
higher
loan
loss
provision
and
the
recognition
of
$2
million
in
client
warrant
losses. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| W. Kirk Wycoff, 43 Chairman,
Pres and CEO | $822K | Michael High, 52 CFO,
Exec. VP | 189K | Eric Morgan, 48 Sr.
VP, CCO and Sec. | 224K | 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
|
|