| Business Summary | | Medford
Bancorp,
Inc.
is
the
holding
company
of
Medford
Savings
Bank
(the
Bank),
which
is
principally
engaged
in
the
business
of
attracting
deposits
from
the
general
public,
originating
residential
and
commercial
real
estate
mortgages,
consumer
and
commercial
loans,
and
investing
in
securities
on
a
continuous
basis.
The
Bank
principally
offers
its
products
and
services
through
a
network
of
18
banking
offices
located
in
Medford,
Malden,
Arlington,
Belmont,
Burlington,
North
Reading,
Somerville,
Tewksbury,
Waltham,
and
Wilmington.
The
Bank's
primary
market
area
includes
these
communities
as
well
as
other
cities
and
towns
in
Middlesex
County
and
the
surrounding
area
north
of
Boston. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | MDBK,
a
chartered
savings
bank
holding
company,
handles
securities
through
its
subsidiary,
Medford
Securities
Corp.
For
the
six
months
ended
6/30/01,
interest
income
rose
7%
to
$44.7
million.
Net
interest
income
after
LLP
rose
3%
to
$18.4
million.
Net
income
fell
6%
to
$6.4
million.
Net
interest
income
reflects
a
growth
in
average
earning
assets,
partially
offset
by
lower
net
interest
margins.
Earnings
were
offset
by
the
absence
of
a
$1.2
million
curtailment
gain. | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| Arthur Meehan, 65 Chairman,
Pres, CEO | $761K | $189K | Phillip Wong, 51 CFO,
Exec. VP, Treasurer | 197K | -- | Eric Loth, 58 Sr.
VP - Bank, Lending | 142K | -- | William Rivers, 45 Sr.
VP - Bank, Admin. | 150K | 323K | George Bargamian, 52 Exec.
VP - Retail of the Bank | 163K | -- | 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.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|