| Business Summary | | Union
Financial
Bancshares,
Inc.
is
the
savings
and
loan
holding
company
for
Provident
Community
Bank.
The
business
of
the
Bank
consists
primarily
of
attracting
deposits
from
the
general
public
and
originating
mortgage
loans
on
residential
properties
located
in
Laurens,
Union
and
Fairfield
counties
in
South
Carolina.
The
Bank
also
makes
commercial
real
estate,
construction
and
consumer
loans
and
invests
in
obligations
of
the
federal
government
and
its
agencies
and
of
state
and
local
municipalities.
The
Bank
purchases
both
fixed
and
adjustable
rate
mortgage-backed
securities
issued
by
Freddie
Mac,
Fannie
Mae
and
Ginnie
Mae.
The
Bank
has
purchased
fixed
and
variable
rate
mortgages
originated
by
other
organizations.
The
principal
sources
of
funds
for
the
Bank's
lending
activities
include
deposits
received
from
the
general
public,
interest
and
principal
repayments
on
loans
and,
to
a
lesser
extent,
borrowings
from
the
FHLB-Atlanta. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Union
Financial
Bancshares
is
a
savings
and
loan
holding
company
for
Provident
Community
Bank.
For
the
six
months
ended
3/31/01,
total
interest
income
increased
13%
to
$9.6
million.
Net
interest
income
after
loan
loss
provision
increased
4%
to
$3.5
million.
Net
income
decreased
4%
to
$735
thousand.
Net
interest
income
reflects
higher
interest
earning
assets,
partially
offset
by
higher
interest
bearing
liabilities.
Net
income
reflects
decreased
services
fees. Recent Earnings Announcement For
the
3
months
ended
06/30/2001,
after
tax
earnings
were
304. (Preliminary; reported in thousands of dollars.) | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| Carl Mason, 56 Chairman
of Directors | -- | -- | Dwight Neese, 50 Pres
and CEO | $203K | $13K | Richard Flake, 52 CFO,
Exec. VP | 127K | -- | Gerald Bolin, 38 COO,
Sr. VP | -- | -- | Wanda Wells, 44 VP,
Corp. 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.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|