| Business Summary | | American
Bank
of
Connecticut
is
a
Connecticut
state
chartered
savings
bank
headquartered
in
Waterbury,
Connecticut.
American
Bank's
market
area
is
comprised
of
the
cities
of
Waterbury,
Torrington
and
contiguous
towns.
Its
main
office
and
six
other
offices
in
Waterbury,
plus
ten
branch
offices
in
Middlebury,
Wolcott,
Seymour,
Torrington,
Watertown,
Winsted,
Southbury
and
Woodbury,
allow
the
Bank
to
compete
effectively
for
deposits
and
loans.
Primarily
a
home
mortgage
lender,
American
Bank
originates
loans
almost
exclusively
for
retention
in
its
own
portfolio.
In
addition
to
retail
banking,
the
Bank
also
engages
in
commercial
credit,
commercial
real
estate
and
consumer
credit. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | American
Bank
of
CT
is
a
state
chartered
savings
bank
headquartered
in
Waterbury.
For
the
six
months
ended
6/30/01,
total
interest
income
increased
13%
to
$30.9
million.
Net
interest
income
after
loan
loss
provision
increased
12%
to
$11.8
million.
Net
income
rose
4%
to
$5.7
million.
Net
interest
income
reflects
increased
average
earning
assets,
partially
offset
by
higher
interest
paid
on
deposits.
Earnings
reflect
increased
salaries
and
intangible
assets
amortization
costs. | More
from
Market Guide: Significant
Developments |
| | |
| Position | Gene Guilbert | Chairman | William Solberg | Pres,
CEO, Director | Floyd Champagne | Exec.
VP, CFO | Earl Young | Exec.
VP | Betty Veillete | Sr.
VP, Sec. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|