| Business Summary | | AF
Bankshares,
Inc.
is
a
federally
chartered
stock
holding
company
that
owns
100%
of
the
common
stock
of
AF
Bank
(the
Bank),
formerly
Ashe
Federal
Bank,
AF
Insurance
Services,
Inc.
and
AF
Brokerage,
Inc.
The
Company
has
no
operations
and
conducts
no
business
of
its
own
other
than
ownership
of
its
subsidiaries
and
investing
in
securities.
The
Bank
is
a
federally
chartered
stock
savings
bank
that
conducts
business
from
its
main
office
located
in
West
Jefferson,
North
Carolina,
branches
in
West
Jefferson,
Jefferson
and
Warrensville,
North
Carolina
operating
under
the
trade
name
Ashe
Federal
Bank;
one
branch
in
Allegheny
County,
North
Carolina
operating
under
the
trade
name
Allegheny
First
Bank,
and
one
branch
in
Watauga
County,
North
Carolina
operating
under
the
trade
name
Appalachian
First
Bank. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | ASFE
is
a
federally
chartered
stock
holding
company
for
AF
Bank,
a
stock
savings
bank
which
conducts
business
in
North
Carolina.
For
the
nine
months
ended
3/31/01,
total
interest
income
rose
29%
to
$8.7
million.
Net
interest
income
after
loan
loss
prov.
rose
16%
to
$3.8
million.
Net
income
rose
33%
to
$463
thousand.
Net
interest
income
reflects
higher
loan
volumes,
partially
offset
by
higher
advances
outstanding.
Net
income
reflects
increased
insurance
commissions. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Jan Caddell, 60 Chairman | -- | James Todd, 56 Pres,
CEO, Director | $136K | Melanie Miller, 29 Exec.
VP, Sec., Treasurer, CFO | -- | Stephen Hooks, 53 Exec.
VP | -- | Martin Little, 37 Sr.
VP and CLO | -- | 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
|
|