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  September 5, 2001
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Home > Company Index > Banking > Banking - Midwest > Pelican Financial, Inc.

Pelican Financial, Inc.
AMEX: PFI
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 PROFILE
Pelican Financial operates through two subsidiaries: Washtenaw Mortgage and Pelican National Bank. The bank serves the high-growth, high-income resort communities around Naples and Ft. Meyers on Florida's Gulf Coast. The bank offers IRAs, CDs, and checking, money market, and savings accounts. Although Pelican Financial offers commercial, construction, and consumer loans, about 75% of company's portfolio is residential mortgage loans. Washtenaw originates, buys, and sells loans and servicing through affiliates in about 40 states (Michigan and Ohio account for almost half of sales). Chairman and CEO Charles Huffman owns more than 45% of the company.

 COMPETITION
Bank of America Corporation (BAC)
Conseco Finance Corp. (dossier)
Countrywide Credit Industries, Inc. (CCR)

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 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 26.90
1-Yr. Sales Growth: (26.7)%
Employees: 183
Revenue per employee: $146,994.54

 KEY PEOPLE
• Charles C. Huffman
    CEO
• Howard M. Nathan
    CFO

 CONTACT INFO
315 E. Eisenhower
Ann Arbor, MI 48108
US
Phone: 734-662-9733
Fax: 941-403-0005

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