| Business Summary | | Northern
States
Financial
Corporation
is
the
parent
bank
holding
company
of
the
Bank
of
Waukegan.
The
principal
business
of
the
Company,
operating
through
the
Bank,
consists
of
attracting
deposits
and
securities
sold
under
repurchase
agreements
from
the
general
public,
making
commercial
loans,
loans
secured
by
residential
and
commercial
real
estate
and
consumer
loans,
and
operating
mortgage
banking
and
trust
businesses.
The
Bank
provides
a
wide
range
of
commercial
business
loans,
including
lines
of
credit
for
working
capital
purposes
and
term
loans
for
the
acquisition
of
equipment
and
other
purposes.
The
Bank's
consumer
lending
department
provides
all
types
of
consumer
loans
including
motor
vehicle,
home
improvement,
home
equity,
student
loans,
unsecured
loans
and
small
personal
credit
lines.
The
Bank's
trust
department
has
been
providing
trust
services
to
the
community
for
over
10
years. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | NSFC
is
a
multi-bank
holding
company
for
the
Bank
of
Waukegan
and
First
Federal
Bank,
FSB.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
8%
to
$19
million.
Net
interest
income
after
loan
loss
prov.
fell
3%
to
$8.8
million.
Net
income
fell
9%
to
$3.6
million.
Net
interest
income
after
LLP
reflects
lower
interest
rates
and
an
increase
in
time
deposits
and
other
borrowings.
Net
income
also
reflects
higher
salary,
employee
benefits,
occupancy
and
equipment
expenses. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Fred Abdula, 75 Chairman,
Pres | $208K | Helen Rumsa, 76 Director
and Sec. | -- | 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
|
|