| Business Summary | | Seacoast
Financial
Services
Corporation
is
the
holding
company
of
Compass
Bank
and
Nantucket
Bank
(the
Banks).
The
Banks'
principal
business
is
gathering
deposits
from
customers
within
its
market
areas
and
investing
those
funds
in
residential
and
commercial
real
estate
loans,
indirect
automobile
loans
(Compass
only),
commercial
loans,
construction
loans,
home
equity
loans
and
other
consumer
loans
and
investment
securities.
The
Banks'
investment
portfolios
consist
primarily
of
U.S.
Government
and
agency
securities,
corporate
bonds,
mortgage-backed
securities,
collateralized
mortgage
obligations
and,
to
a
lesser
extent,
marketable
equity
securities.
Individual
and
business
customers
have
a
variety
of
deposit
accounts
with
the
Banks,
including
NOW
(checking)
and
other
demand
deposit
accounts,
passbook
savings
accounts,
money
market
deposit
accounts,
Individual
Retirement
Accounts
(IRAs)
and
various
certificates
of
deposit. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Seacoast
Financial
Services
Corp.
is
a
bank
holding
company
for
CompassBank,
a
state
chartered
bank
with
35
offices
in
New
Bedford
and
other
Massachusetts
communities.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
37%
to
$106.6
million.
Net
interest
income
after
loan
loss
provision
rose
27%
to
$46.3
million.
Net
income
rose
20%
to
$13.7
million.
Results
reflect
higher
average
loan
balances,
partially
offset
by
higher
personnel
and
amortization
costs. | More
from
Market Guide: Significant
Developments |
| | | | FY1999 Pay | |
| Kevin Champagne, 50 Pres,
CEO | $1.9M | William Rigby, 52 Sr.
VP | -- | Carl Taber, 46 Sr.
VP | -- | Francis Mascianica, Jr., 52 Treasurer
of the Company and Sr. VP, Treasurer & CFO of the Bank | 552K | Carolyn Burnham, 51 Sr.
VP and Head of the Retail Banking Division of the Bank | 552K | Dollar
amounts are as of 31-Oct-1999 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
|
|