| Business Summary | | Net.B@nk
Inc.
is
a
bank
holding
company
that
wholly
owns
the
outstanding
stock
of
NetBank,
a
federal
savings
bank,
and
NetBank
Partners
LLC,
a
partnership
involved
in
strategic
partnering
opportunities.
NetBank
and
NetBank
Inc.
are
jointly
referred
to
as
NetBank.
NetBank
is
a
federally
insured
bank
operating
exclusively
on
the
Internet.
The
Company's
mission
is
to
profitably
provide
a
broad
range
of
banking
and
financial
services
to
the
growing
number
of
Internet
users.
The
Company's
low-cost
branchless
business
model
allowed
it
to
attain
profitability
within
a
year
of
acquiring
its
bank
charter
and
to
remain
profitable. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | NetBank,
Inc.
is
a
bank
holding
company
for
Atlanta
Internet
Bank,
a
federally
chartered
Internet-based
savings
bank.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
39%
to
$70.5
million.
Net
interest
income
after
loan
loss
provision
rose
22%
to
$21.4
million.
Net
income
before
extraordinary
item
totaled
$1.6
million
vs.
a
loss
of
$308
thousand.
Results
reflect
higher
average
loan
balances
and
increased
service
charges
on
deposit
accounts. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| T. Johnson, 51 Chairman | -- | Michael Fitzgerald, 42 Pres,
COO, Director | $271K | D. Grimes, 54 Vice
Chairman, CEO | 550K | Robert Bowers, 44 CFO,
Sec., Director | 300K | Laura Moon, 30 CAO | 111K | 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
|
|