| Business Summary | | Smithtown
Bancorp,
Inc.
is
a
bank
holding
company
for
Bank
of
Smithtown
(the
Bank)
and
conducts
no
business
other
than
holding
the
stock
of
the
Bank.
The
Bank
is
a
full-service
bank
offering
a
complete
range
of
commercial
and
consumer
financial
services.
The
Bank
also
extends
its
services
to
local
municipalities.
The
Bank's
Trust
and
Investment
Management
Division
provides
trust
and
estate
administration,
fiduciary
and
investment
advisory
services
and
acts
as
a
bond
and
coupon-paying
agent
for
local
municipalities.
Investment
securities,
as
of
December
31,
2000,
totaled
$61,329,075,
as
compared
to
$62,661,276,
as
of
December
31,
1999,
a
decrease
of
2.13%.
Average
deposits
for
2000
increased
by
23.53%
over
1999.
Year-end
2000
deposits
increased
by
23.75%
over
the
same
period
in
1999.
Year-end
2000
borrowings
decreased
to
$33,500,000,
from
$38,000,000
in
1999. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | SMTB,
a
bank
holding
company,
provides
full
banking
and
trust
services
through
The
Bank
of
Smithtown,
with
branch
offices
in
Suffolk
County,
NY.
For
the
six
months
ended
6/01,
interest
income
rose
14%
to
$12.3
million.
Net
interest
income
after
loan
loss
prov.
rose
11%
to
$6.9
million.
Net
income
rose
11%
to
$2.7
million.
Net
interest
income
reflects
increased
average
loan
balances,
partially
offset
by
higher
interest
on
deposits.
Net
income
reflects
higher
personnel
costs. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Bradley Rock, 48 Chairman,
Pres and CEO | $469K | Anita Florek, 50 Exec.
VP and Treasurer of the Bancorp and Bank | 206K | John Romano, 44 Exec.
VP, Retail Division | 126K | Robert Anrig, 52 Exec.
VP & CLO of the Bank | 232K | Thomas Stevens, 42 Exec.
VP & CLO of the Bank | 200K | 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
|
|