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  September 5, 2001
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Home > Company Index > Banking > Banking - Mid-Atlantic > Independence Federal Savings Bank

Independence Federal Savings Bank
Nasdaq (SC): IFSB
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 PROFILE
Founded in 1968 to provide loans to African-Americans living in Washington, DC, Independence Federal Savings Bank continues that business today. One of the US's largest African-American-owned businesses, the bank operates four branches in Washington, DC, and one in Chevy Chase, Maryland. Although most of its loan portfolio consists of mortgages secured by single-family homes, the bank also focuses on providing guaranteed student loans through Sallie Mae. Its deposit activities include checking and savings accounts, money market accounts, and CDs.

 COMPETITION
Chevy Chase Bank, F.S.B. (dossier)
Citigroup Inc. (C)
Riggs National Corporation (RIGS)

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 FINANCIAL OVERVIEW
Fiscal Year-End: December
1999 Sales (mil.): 21.00
1-Yr. Sales Growth: (19.2)%
Employees: 80
Revenue per employee: $262,500.00

 KEY PEOPLE
• Donna Fitzgerald Shuler
    CEO
• Kathleen Kearney
    CFO

 CONTACT INFO
1229 Connecticut Ave. NW
Washington, DC 20036
US
Phone: 202-628-5500
Fax: 202-626-7106
Online: Web Site

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