| Business Summary | | Local
Financial
Corporation
is
the
holding
company
for
Local
Oklahoma
Bank,
National
Association
(the
Bank).
At
December
31,
2000,
the
Company
had
consolidated
assets
of
$2.4
billion,
substantially
all
of
which
is
comprised
of
its
100%
ownership
interest
in
the
Bank,
consolidated
liabilities
of
$2.2
billion,
including
consolidated
deposits
of
$1.9
billion
and
consolidated
stockholders'
equity
of
$156.3
million.
The
Bank
offers
a
full
range
of
commercial
banking
products
and
related
financial
services
through
51
branch
offices
within
the
state
of
Oklahoma.
As
of
November
20,
2000,
the
Bank
is
the
third
largest
Oklahoma-based
bank
in
Oklahoma
based
on
deposits.
Its
deposits
of
$1.9
billion
at
December
31,
2000,
represent
approximately
5%
of
the
Oklahoma
market. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | LFIN
is
the
bank
holding
company
for
Local
Oklahoma
Bank.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
6%
to
$96.8
million.
Net
interest
income
after
loan
loss
provision
rose
8%
to
$40.1
million.
Net
income
before
extraordinary
items
rose
15%
to
$13.8
million.
Total
interest
income
reflects
an
increase
in
commercial
lending
activities
and
lower
borrowing
costs.
Net
income
reflects
reduced
compensation,
professional
fees
and
other
expenses. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Edward Townsend, 59 Chairman,
CEO | $944K | Jan Norton, 54 Pres,
Director | 464K | Richard Park, 69 CFO,
Exec. VP | -- | K. Randy Roper, 41 Exec.
VP, Pres of Oklahoma City Region | -- | James Young, 52 Exec.
VP, Pres Tulsa Regional, and Mang. of Commercial Lending of the Bank | 327K | 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
|
|