| Business Summary | | Horizon
Financial
Services
Corporation
is
the
holding
company
for
Horizon
Federal
Savings
Bank.
Horizon
Federal
is
a
federally
chartered
stock
savings
bank
headquartered
in
Oskaloosa,
Iowa,
and
its
primary
market
area
covers
Mahaska
County,
that
portion
of
Marion
County
in
and
around
Knoxville,
Iowa,
and,
to
a
lesser
extent,
Wapello
County,
Iowa.
The
Bank
services
its
market
area
through
its
three
full-service
offices,
two
of
which
are
located
in
Oskaloosa,
Iowa
and
one
located
in
Knoxville,
Iowa.
The
principal
business
of
the
Bank
consists
of
attracting
deposits
from
the
general
public
and
using
such
deposits,
together
with
borrowings
and
other
funds,
primarily
to
originate
one-
to
four-family
residential
mortgage
loans.
The
Bank
also
originates
consumer
loans,
commercial
business
loans,
multi-family
and
commercial
real
estate
loans
and
residential
construction
loans.
The
Bank
also
invests
in
mortgage-backed
and
related
securities,
as
well
as
investment
securities. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | HZFS
is
a
stock
savings
bank
holding
company,
the
primary
asset
of
which
is
Horizon
Federal
Savings
Bank.
For
the
nine
month
ended
3/31/01,
total
interest
income
rose
6%
to
$4.9
million.
Net
interest
income
after
loan
loss
provision
fell
11%
to
$1.7
million.
Net
earnings
rose
14%
to
$366
thousand.
Net
interest
income
reflects
an
increase
in
average
earning
assets,
offset
by
higher
interest
liabilities.
Earnings
reflect
a
decrease
in
losses
on
the
sale
of
securities. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Robert DeCook, 58 Chairman,
Pres and CEO | $94K | Thomas Gillespie, 50 Director;
VP - Residential Lending and Collections of the Bank | -- | Kent Frankenfeld, 44 VP
- Marketing and Product Devel. for the Bank | -- | Sharon McCrea, 58 Treasurer
and Comptroller of the Bank | -- | 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
|
|