| Business Summary | | Mystic
Financial,
Inc.
is
the
holding
company
for
its
wholly
owned
subsidiary,
Medford
Co-operative
Bank.
The
Bank
provides
a
variety
of
financial
services
to
individuals
and
businesses
through
its
six
offices
in
Medford,
Arlington
and
Lexington,
Massachusetts.
The
Bank
attracts
deposits
from
the
general
public
and
uses
these
funds
to
originate
various
types
of
loans
primarily
in
eastern
Middlesex
County,
Massachusetts,
including
residential
and
commercial
mortgage,
and
commercial
and
consumer
loans,
and
to
invest
in
United
States
Government
and
Federal
Agency
and
other
securities.
The
Bank
has
two
wholly
owned
subsidiaries,
Mystic
Securities
Corp.,
which
engages
in
the
purchase
and
sale
of
securities,
and
Mystic
Investment
Inc.,
which
is
inactive. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Mystic
Financial,
Inc.
is
a
bank
holding
company
for
Medford
Co-operative
Bank.
For
the
fiscal
year
ended
6/30/01,
interest
income
increased
20%
to
$19.4
million.
Net
interest
income
after
loan
loss
provision
increased
8%
to
$9.2
million.
Net
income
decreased
30%
to
$1.2
million.
Net
interest
income
reflects
growth
in
interest
earning
assets,
partially
offset
by
higher
loan
loss
provisions.
Earnings
suffered
from
a
one-time
contractual
payment
of
$819
thousand. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| John McGlynn, 78 Chairman | -- | Ralph Dunham, 45 Pres,
CEO | $142K | Lorraine Silva, 69 Sec. | -- | Thomas Burke, 53 Sr.
VP and Commercial Loan Officer of Medford Co-operative Bank | 130K | Dollar
amounts are as of 30-June-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
|
|