| Business Summary | | The
Washington
Savings
Bank,
F.S.B.
(WSB)
is
a
federally
chartered,
federally
insured
stock
savings
bank.
WSB
is
engaged
principally
in
the
business
of
attracting
deposit
accounts
from
the
general
public
and
using
such
funds,
together
with
other
funds,
to
make
first
and
second
mortgages,
land
acquisition
and
development
loans,
construction
loans,
consumer
loans,
and
non-residential
mortgage
loans,
with
emphasis
on
residential
lending.
WSB
has
five
branches
in
Maryland
located
in
Bowie,
Waldorf,
Crofton,
Millersville
and
Odenton,
all
of
which
are
adjacent
to
the
Baltimore-Washington
corridor.
WSB
also
has
three
mortgage
loan
origination
offices
in
Maryland,
located
adjacent
to
the
Bowie,
Waldorf
and
Odenton
branch
offices. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | WSB
is
a
federally-chartered,
federally-insured
stock
savings
bank
that
operates
five
branches
in
MD.
For
the
six
months
ended
1/31/01,
total
interest
income
rose
12%
to
$10.9
million.
Net
interest
income
after
loan
loss
prov.
rose
41%
to
$3.7
million.
Net
income
totalled
$2.1
million,
up
from
$447
thousand.
Net
interest
income
reflects
higher
asset
volume
and
yields,
and
a
higher
net
interest
margin.
Earnings
also
reflect
increased
gains
on
loan
sales,
and
$1
million
in
insurance
proceeds. Recent Earnings Announcement For
the
3
months
ended
04/30/2001,
after
tax
earnings
were
622. (Preliminary; reported in thousands of dollars.) | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| William Harnett, 69 Chairman,
CEO | $195K | $91K | Joseph Gross Pres, COO | -- | -- | John Motzer, 60 Sr.
VP, Director | 101K | 72K | Dollar
amounts are as of 31-July-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|