| Business Summary | | Flag
Financial
Corporation
is
a
bank
holding
company
that
is
the
sole
shareholder
of
FLAG
Bank,
(the
Bank).
During
2000,
The
Citizens
Bank
and
Thomaston
Federal
Savings
Bank
were
merged
into
First
Flag
Bank.
The
Company
is
also
a
service
provider
of
mortgage,
appraisal,
investment
and
insurance
services
though
FLAG
Mortgage,
FLAG
Appraisal
Services,
FLAG
Investment
Services
and
FLAG
Insurance
Services.
A
division
of
FLAG
Bank
provides
these
services.
The
Bank's
businesses
consist
primarily
of
attracting
deposits
from
the
general
public
and,
with
these
and
other
funds,
making
residential
mortgage
loans,
consumer
loans,
commercial
loans,
commercial
real
estate
loans,
residential
construction
loans
and
securities
investments. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | FLAG
is
a
bank
holding
company
for
Flag
Bank.
Flag's
franchise
consists
of
25
offices
in
15
counties
in
Georgia
and
Alabama.
For
the
six
months
ended
6/30/01,
interest
income
fell
2%
to
$23.4
million.
Net
interest
income
after
loan
provision
rose
3%
to
$12.2
million.
Net
income
rose
68%
to
$2.2
million.
Net
interest
income
reflects
a
reduction
in
the
Company's
loan
loss
provision.
Net
income
reflects
lower
expenses
attributable
to
the
sale
of
branches. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| John Holle, 50 Chairman | $316K | J. Speight, Jr., 44 Pres,
CEO | 310K | Charlie Hinely, 53 Exec.
VP and COO | 223K | Robert Cochran, 64 Sr.
VP, Director | 186K | John Hines, Jr., 66 Sr.
VP, Director | -- | 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
|
|