| Business Summary | | Finger
Lakes
Bancorp,
Inc.
is
the
holding
company
parent
of
Savings
Bank
of
the
Finger
Lakes.
The
Savings
Bank
of
the
Finger
Lakes
conducts
business
through
its
main
office
and
branch
offices
located
in
the
Finger
Lakes
region
of
New
York
State.
As
of
December
31,
2000,
Finger
Lakes
Bancorp
had
consolidated
assets
totaling
$329.2
million,
deposits
of
$228.5
million
and
consolidated
stockholders'
equity
of
$36.6
million.
Savings
Bank
of
the
Finger
Lakes
has
traditionally
operated
as
a
community-oriented
savings
institution,
providing
mortgage
loans
and
other
traditional
financial
services
to
those
in
its
local
community.
Savings
Bank
of
the
Finger
Lakes
is
primarily
engaged
in
attracting
deposits
from
the
general
public
through
its
offices
and
using
those
funds
to
originate
loans
secured
by
real
estate.
It
also
originates
commercial
business
loans,
consumer
loans,
mobile
home
loans
and
home
equity
loans
and
lines
of
credit. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Finger
Lakes
Bancorp,
Incorporated
is
the
chartered
holding
company
parent
of
Savings
Bank
of
the
Finger
Lakes.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
9%
to
$11.8
million.
Net
interest
income
after
LLP
rose
1%
to
$4.3
million.
Net
income
totalled
$766
thousand,
up
from
$378
thousand.
Net
interest
income
reflects
higher
earning
assets,
partially
offset
by
tighter
spreads.
Net
income
benefitted
from
the
absence
of
$180
thousand
for
environmental
remediation. | More
from
Market Guide: Significant
Developments |
| | | G. Thomas
Bowers,
Pres./Chmn./CEO Terry
L. Hammond,
Exec. VP/CFO. | More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|