| Business Summary | | Western
Ohio
Financial
Corporation
is
a
savings
and
loan
holding
company.
During
fiscal
1997,
the
Company
owned
all
of
the
outstanding
stock
of
Springfield
Federal
Savings
Bank,
Mayflower
Federal
Savings
Bank
and
Seven
Hills
Savings
Association,
and
combined
these
three
institutions
into
one
under
the
name
Cornerstone
Bank
(the
Bank).
The
Company
is
a
community-oriented
savings
and
loan
holding
company
offering
a
variety
of
financial
services
to
meet
the
needs
of
the
communities
it
serves.
The
principal
business
of
the
Company
consists
of
attracting
retail
deposits
from
the
general
public
and
investing
those
funds
primarily
in
one-
to
four-family
residential
real
estate,
commercial
and
multi-family
real
estate,
construction
loans
and
consumer
and
commercial
business
loans,
all
primarily
within
its
market
areas. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | WOFC,
a
savings
and
loan
association
holding
company,
holds
Springfield
Federal
Savings
Bank,
Mayflower
Federal
Savings
Bank
and
Seven
Hills
Savings
Association.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
5%
to
$13
million.
Net
interest
income
after
loan
loss
prov.
fell
2%
to
$4.7
million.
Net
income
rose
7%
to
$954
thousand.
Net
interest
income
higher
earning
assets,
offset
by
an
increased
cost
of
funds.
Net
income
reflects
increased
service
charges. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| David Dillahunt, 66 Chairman | -- | John Raisbeck, 61 Pres,
CEO, Director | $263K | Craig Fortin, 40 CFO,
Sr. VP, Treasurer | 145K | John Heckman, 49 Exec.
VP, Operations and Admin. | -- | Gary Hicks, 49 Exec.
VP | -- | 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
|
|