| Business Summary | | First
Federal
Bancorporation
was
incorporated
to
serve
as
the
savings
and
loan
holding
company
of
First
Federal
Banking
and
Savings,
FSB
(the
Bank).
The
Bank
is
primarily
engaged
in
the
business
of
attracting
deposits
from
the
general
public
and
originating
loans
secured
by
first
mortgages
on
owner-occupied
one-
to
four-family
residences
in
its
market
area.
The
Bank
also
originates
consumer
loans,
including
automobile
and
home
improvement
loans,
as
well
as
other
consumer
loans,
loans
on
commercial
real
estate
and
multi-family
real
estate,
and
commercial
business
loans. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | First
Federal
Bancorp.
MN
is
a
bank
holding
company
for
First
Federal
Bank,
a
federally
chartered
savings
bank
serving
Bemidji,
MN.
For
the
six
months
ended
3/31/01,
total
interest
income
rose
11%
to
$5.2
million.
Net
interest
income
after
loan
loss
prov.
fell
3%
to
$1.8
million.
Net
income
fell
4%
to
$431
thousand.
Net
interest
income
reflects
increased
average
cost
of
interest
bearing
liabilities,
offset
by
higher
deposit
expense.
Net
income
reflects
a
rise
in
occupancy
costs. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Ralph Smith, 66 Chairman | -- | William Belford, 52 Pres,
CEO | $274K | Martin Sathre, 75 Vice
Chairman | -- | Dennis Vorgert, 53 Treasurer | -- | Karen Jacobson, 58 Sec. | -- | Dollar
amounts are as of 30-Sep-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
|
|