| Business Summary | | Community
Financial
Corporation
owns
Community
Bank,
which
owns
Community
First
Mortgage
Corporation
(Community
First),
a
wholly
owned
mortgage
banking
subsidiary
that
originates
and
sells
mortgage
loans.
Community
First
originates
fixed
rate
mortgage
loans
to
sell
to
third
party
investors
to
generate
fee
income
and
gains
on
the
sale
of
mortgage
loans.
For
the
year
ended
March
31,
2001,
the
Company's
mortgage
banking
subsidiary
originated
$59.8
million
in
fixed
rate
mortgage
loans
for
resell.
The
Company
concentrates
its
lending
activities
on
first
mortgage
conventional
loans
secured
by
residential
and,
to
a
lesser
extent,
commercial
real
estate
with
an
emphasis
on
multi-family
housing. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | CFFC
is
a
bank
holding
company
for
Community
Federal
Savings
Bank,
operating
in
Virginia.
For
the
three
months
ended
6/30/01,
total
interest
income
rose
12%
to
$5.2
million.
Net
interest
income
after
loan
loss
provision
rose
28%
to
$2.4
million.
Net
income
rose
65%
to
$722
thousand.
Net
interest
income
reflects
higher
average
loan
and
securities
balances,
along
with
decreased
interest
paid
on
borrowings.
Earnings
benefitted
from
increased
service
charges
and
fees. | More
from
Market Guide: Significant
Developments |
| | | | FY2001 Pay | |
| James Cooke, Jr., 63 Chairman | -- | P. Douglas Richard, 57 Pres,
CEO, Director | $133K | Jane Hickok, 64 Vice
Chairman, Sec. | -- | R. Jerry Giles, 52 CFO | -- | Norman Smiley, III, 39 CLO | -- | Dollar
amounts are as of 31-Mar-2001 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
|
|