| Business Summary | | People's
Bancshares,
Inc.
is
a
unitary
bank
holding
company
whose
principal
business
is
conducted
through
its
principal
subsidiary,
People's
Savings
Bank
of
Brockton
(the
Bank).
The
Bank
is
engaged
principally
in
the
business
of
attracting
deposits
from
individuals,
businesses
and
governmental
entities,
and
investing
those
funds
in
residential
and
commercial
mortgages,
consumer,
commercial
and
construction
loans
and
securities,
consisting
primarily
of
mortgage-backed
securities
and
trust
preferred
securities.
The
Bank
originates
loans
for
investment
with
the
exception
of
residential
mortgage
loans.
The
Bank
and
its
mortgage
banking
subsidiary
originate
1-4
family
residential
loans
primarily
for
sale
in
the
secondary
market,
generally
with
the
sale
of
servicing
rights
of
such
loans. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | People's
Bancshares,
Inc.
is
a
bank
holding
company
for
People's
Savings
Bank
of
Brockton,
a
state
chartered
stock
savings
bank.
For
the
six
months
ended
6/30/01,
total
interest
income
fell
11%
to
$35.7
million.
Net
interest
income
after
loan
loss
provision
decreased
12%
to
$12.8
million.
Net
income
fell
50%
to
$2.3
million.
Results
reflect
the
decrease
in
interest-earning
assets,
higher
interest
expense
on
deposits
and
the
loss
on
sale
of
investment
securities. | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| Frederick Adami, III, 56 Chairman | -- | -- | Richard Straczynski, 54 Pres,
CEO, Director | $275K | $23.8K | James Hunt, 58 CFO
and Exec. VP/Fin. and Admin. | 54K | -- | John Kiernan, 54 Pres
of People's Mortgage Corp. | 239K | -- | Donna Boulanger, 47 Sr.
VP/Sr. Lending Officer of the Bank | 161K | 4.8K | 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
|
|