| Business Summary | | Riggs
National
Corporation
is
a
bank
holding
company
that
engages
in
a
variety
of
banking-related
activities
through
its
bank
and
non-bank
subsidiaries.
The
Company's
principal
subsidiary
is
Riggs
Bank
N.A.
(the
Bank),
which
had
assets
of
$5.2
billion,
deposits
of
$4.1
billion
and
stockholder's
equity
of
$425.2
million,
as
of
December
31,
2000.
The
Bank
operates
31
branches
and
an
investment
advisory
subsidiary
in
Washington,
D.C.;
14
branches
in
Virginia;
six
branches
in
Maryland;
a
second
investment
advisory
subsidiary
in
New
Haven,
Connecticut;
a
commercial
bank
in
London,
England;
an
Edge
Act
subsidiary
in
Miami,
Florida;
branch
offices
in
London,
England,
Berlin,
Germany,
Jersey,
Channel
Islands
and
Nassau,
Bahamas
and
a
Bahamian
bank
and
trust
company.
As
a
commercial
bank,
the
Bank
provides
a
wide
array
of
financial
services
to
customers
in
the
Washington,
D.C.
metropolitan
area,
throughout
the
United
States
and
internationally. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | RIGS,
a
bank
holding
company,
whose
primary
subsidiary
is
Riggs
Bank
National
Association.
For
the
six
months
ended
6/30/01,
total
interest
income
fell
12%
to
$158.3
million.
Net
interest
income
after
loan
loss
prov.
fell
2%
to
$94.8
million.
Net
income
fell
55%
to
$9.8
million.
Net
interest
income
reflects
a
decrease
in
loan
portfolios,
partially
offset
by
lower
loan
loss
provision.
Earnings
reflect
from
a
$13.9
million
loss
in
venture
capital
at
the
Riggs
Capital. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Robert Allbritton, 32 Chairman,
CEO | -- | Timothy Coughlin, 58 Pres,
Director | $337K | Robert Sloan, 54 Vice
Chairman | -- | Steven Tamburo Deputy
CFO and Sr. VP, Deputy Cheif Financial Officer of Riggs Ba | -- | Lawrence Hebert, 54 Director
and Pres and CEO of Riggs Bank N.A. | -- | 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
|
|