| Business Summary | | FFW
Corporation
is
the
holding
company
for
First
Federal
Savings
Bank
of
Wabash.
The
principal
business
of
the
Bank
consists
of
attracting
retail
deposits
from
the
general
public
and
investing
those
funds
primarily
in
one-
to
four-family
residential
mortgage
and
consumer
(primarily
automobile)
loans,
and,
to
a
lesser
extent,
commercial
and
multi-family
real
estate,
construction
and
commercial
business
loans
primarily
in
the
Bank's
market
area.
The
Bank
considers
Wabash,
Kosciusko
and
Whitley
Counties
as
its
primary
market
area.
The
Bank
also
serves
Grant,
Miami,
Huntington,
and
Elkhart
Counties
in
Indiana.
The
Bank
also
purchases
mortgage-backed
securities
and
invests
in
United
States
Government
and
agency
obligations
and
other
permissible
investments.
The
Company's
other
wholly-owned
subsidiary,
FirstFed
Financial
of
Wabash,
Inc.,
offers
insurance
products. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | FFWC
is
a
holding
company
for
First
Federal
Savings
Bank
of
Wabash,
a
federally
chartered
bank
with
four
offices
in
Indiana.
For
the
nine
months
ended
3/31/01,
interest
income
rose
6%
to
$13.1
million.
Net
interest
income
after
loan
loss
prov.
fell
25%
to
$3.6
million.
Net
income
fell
36%
to
$1.1
million.
Net
interest
income
reflects
an
increase
in
interest
earning
assets,
offset
by
increased
provision
for
loan
losses.
Net
income
suffered
from
higher
data
processing
expenses. Recent Earnings Announcement For
the
3
months
ended
06/30/2001,
revenues
were
4,396;
after
tax
earnings
were
565. (Preliminary; reported in thousands of dollars.) | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Wayne Rees, 62 Chairman
and Sec. | -- | Roger Cromer, 35 Pres,
CEO, Chief Financial Officer, Treasurer | $124K | Christine Noonan, 50 Sec. | -- | Dollar
amounts are as of 30-June-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
|
|