| Business Summary | | Federal
Trust
Corporation
is
the
holding
company
of
Federal
Trust
Bank
(the
Bank),
a
federally
chartered
stock
savings
bank.
The
Bank
is
primarily
engaged
in
the
business
of
obtaining
funds
in
the
form
of
deposits
and
Federal
Home
Loan
Bank
advances,
and
investing
such
funds
in
permanent
loans
on
residential
and,
to
a
lesser
extent,
commercial
real
estate,
primarily
in
Florida,
in
various
types
of
construction
and
other
loans
and
in
investment
securities.
As
of
December
31,
1999,
the
Bank
had
two
operating
subsidiaries,
FTB
Financial
Services,
Inc.
(FTBFS)
and
Vantage
Mortgage
Services
Center,
Inc.
(Vantage
Mortgage).
FTBFS
engages
in
the
business
of
selling
insurance
annuities,
stocks
and
bond
products,
and
had
minimal
operations
in
2000.
Vantage
Mortgage
originates
residential
mortgages
in
the
Gainesville,
Florida
market.
The
Company's
primary
market
area
is
northeast
Orange
County
and
Seminole
County
in
central
Florida. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Federal
Trust
Corporation
is
a
bank
holding
company
for
Federal
Trust
Bank,
a
federally
chartered
savings
bank
operating
in
Florida.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
17%
to
$10.1
million.
Net
interest
income
after
loan
loss
provision
fell
6%
to
$2.7
million.
Net
income
fell
39%
to
$384
thousand.
Results
reflect
increased
interest
paid
on
deposits,
a
higher
provision
for
loan
losses
and
increased
personnel
and
loan
expenses. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| James Suskiewich, 53 Chairman,
Pres and CEO | $262K | Aubrey Wright, Jr., 54 CFO,
Director of the Company and Sr. VP, CFO of the | 152K | 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
|
|