| Business Summary | | Pinnacle
Bancshares,
Inc.
is
the
holding
company
for
Pinnacle
Bank.
The
Bank
is
an
Alabama-chartered
commercial
bank
with
six
offices
located
in
Central
and
Northwest
Alabama.
The
Bank
is
primarily
engaged
in
the
business
of
obtaining
funds
in
the
form
of
savings
deposits
and
investing
such
funds
in
mortgage
loans
on
single-family
residential
real
estate.
To
a
lesser
extent
the
Bank
is
engaged
in
making
consumer
loans,
commercial
real
estate
loans,
and
other
commercial
loans.
The
principal
sources
of
funds
for
the
Bank's
lending
activities
are
savings
deposits,
Federal
Home
Loan
Bank
(FHLB)
of
Atlanta
advances,
principal
repayments
of
loans
and
sales
of
loans.
The
Bank's
principal
sources
of
income
are
interest
on
loans,
servicing
and
commitment
fees,
and
interest
and
dividends
on
securities. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | PLE
is
a
holding
Co.
for
Pinnacle
Bank,
operating
six
branches
in
central
and
northwest
AL.
For
the
six
months
ended
6/30/01,
total
interest
income
decreased
4%
to
$8.3
million.
Net
interest
income
after
loan
loss
provision
fell
26%
to
$2.5
million.
Net
income
decreased
52%
to
$436
thousand.
Net
interest
income
reflect
lower
average
balance
of
interest-earning
assets,
and
increased
interest
paid
on
deposits.
Earnings
also
reflect
prepayment
penalties
for
FHLB
advances. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Al Simmons, 53 Chairman | -- | Robert Nolen, Jr., 42 Pres,
CEO, Director | $134K | Mary Jo Gunter, 48 VP
of the Company and Sr. VP -- Banking Services of the Bank | -- | 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
|
|