| Business Summary | | South
Street
Financial
Corp.
is
the
holding
company
of
Home
Savings
Bank
of
Albemarle,
Inc.
The
Bank
primarily
is
engaged
in
the
business
of
attracting
retail
deposits
from
the
general
public,
and
using
such
deposits
to
make
mortgage
loans
secured
by
real
estate.
The
Bank
makes
mortgage
loans
secured
by
residential
real
property,
including
one-to-four
family
residential
real
estate
loans,
home
equity
line
of
credit
loans
and
other
subordinate
lien
loans,
loans
secured
by
improved
nonresidential
real
property,
loans
secured
by
undeveloped
real
property
and
construction
loans.
The
Bank
also
makes
a
limited
number
of
loans,
which
are
not
secured
by
real
property,
such
as
loans
secured
by
savings
accounts.
As
of
September
30,
1999,
the
Company
had
total
assets
of
$174.5
million. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | South
Street
Financial
Corp.
is
the
bank
holding
Company
for
Home
Savings
Bank
of
Albemarle,
with
offices
in
North
Carolina.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
9%
to
$7.3
million.
Net
interest
income
after
loan
loss
prov.
fell
9%
to
$2.7
million.
Net
income
rose
15%
to
$390
thousand.
Net
interest
income
reflects
higher
average
loan
balances,
offset
by
higher
interest
on
deposits.
Earnings
benefitted
from
a
gain
on
the
sale
of
assets. | More
from
Market Guide: Significant
Developments |
| | | | FY1999 Pay | |
| Carl Hill, 67 Pres,
CEO | $455K | R. Swanner, 51 Exec.
VP, Sec. | 358K | Christopher Cranford, 44 Controller
and Treasurer | -- | Dollar amounts are as of 30-Sep-1999 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
|
|