| Business Summary | | StateFed
Financial
Corporation
is
the
holding
company
for
State
Federal
Savings
and
Loan
Association
of
Des
Moines.
State
Federal
is
a
federally
chartered
savings
and
loan
association
headquartered
in
Des
Moines,
Iowa.
The
principal
business
of
the
Association
consists
of
attracting
retail
deposits
from
the
general
public
and
investing
those
funds
primarily
in
one-to-four
family
residential
mortgage
and
commercial
and
multi-family
real
estate
loans,
and,
to
a
lesser
extent,
construction
and
consumer
loans
primarily
in
the
Association's
market
area.
The
Association
also
invests
in
United
States
Government
and
agency
obligations
and
other
permissible
investments.
At
June
30,
2000,
substantially
all
of
the
Association's
real
estate
mortgage
loans
were
secured
by
properties
located
in
Iowa.
At
June
30,
2000,
the
Company
had
total
assets
of
$100.7
million,
total
deposits
of
$53.6
million
and
total
stockholders'
equity
of
$16.6
million. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | SFFC
operates
as
a
holding
company
for
State
Federal
S&L
Assoc.
of
Des
Moines.
For
the
nine
months
ended
3/31/01,
total
interest
income
rose
21%
to
$6.2
million.
Net
interest
income
after
loan
loss
prov.
rose
12%
to
$2.5
million.
Net
income
fell
26%
to
$596
thousand.
Net
interest
income
reflects
an
increase
in
interest
earned
on
the
loan
portfolio,
partially
offset
by
higher
interest
on
deposits.
Lower
income
reflects
increased
salaries
and
benefits
expense. | More
from
Market Guide: Significant
Developments |
| | |
| Position | Randall Bray | Chairman | Andra Black, 53 | Co-Pres,
Director | Craig Wood, 42 | Co-Pres,
Director |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|