| Business Summary | | Coddle
Creek
Financial
Corp.
is
the
holding
company
for
Mooresville
Savings
Bank,
Inc.,
S.S.B.,
a
state-chartered
stock
savings
bank.
The
Bank
is
engaged
primarily
in
the
business
of
attracting
retail
deposits
from
the
general
public
and
using
such
deposits
to
make
mortgage
loans
secured
by
real
estate.
The
Bank
makes
one-
to
four-family
residential
real
estate
loans,
loans
secured
by
multi-family
residential
and
commercial
property,
construction
loans
and
equity
line
of
credit
loans.
The
Bank
also
makes
loans
that
are
not
secured
by
real
property,
such
as
loans
secured
by
pledged
deposit
accounts
and
various
types
of
secured
and
unsecured
consumer
loans.
The
Bank
conducts
business
through
three
full
service
offices
in
Mooresville,
Cornelius
and
Huntersville,
North
Carolina.
At
December
31,
2000,
the
Company
and
the
Bank
had
total
assets
of
$151.7
million,
net
loans
of
$130.5
million,
deposits
of
$104.4
million
and
stockholders'
equity
of
$35
million. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | CDLC
is
a
savings
bank
holding
company
for
Mooresville
Savings
Bank.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
3%
to
$5.7
million.
Net
interest
income
after
loan
loss
provision
fell
21%
to
$2.2
million.
Net
loss
totalled
$585
thousand,
vs.
income
of
$602
thousand.
Net
interest
income
reflects
increased
average
earnings
assets,
offset
by
increased
interest
on
deposits.
Net
loss
reflects
increased
compensation
and
employee
benefits
expenses. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| George Brawley, Jr., 67 Pres,
CEO and Chairman of the Bank and the Company | $360K | Dale Brawley, 43 Exec.
VP, Treasurer of the Bank and the Company | 247K | Billy Williams, 40 Sec.
and Controller of the Company and the Bank | 163K | 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
|
|