| | Business Summary | | Granite
State
Bankshares,
Inc.
is
a
single-bank
holding
company
that
was
formed
to
acquire
Granite
Bank
upon
its
conversion
from
a
mutual
savings
bank
to
a
state-chartered
guaranty
savings
bank.
The
Bank
is
a
community
oriented
commercial
bank
offering
a
variety
of
financial
services.
The
principal
business
of
the
Bank
consists
of
attracting
deposits
from
the
general
public
and
underwriting
loans
secured
by
residential
and
commercial
real
estate
and
other
loans.
The
Bank
also
originates
residential
real
estate
loans
for
sale
in
the
secondary
mortgage
market.
The
Company
has
acquired
the
two
branch
offices
of
Olde
Port
Bank
(a
division
of
Webster
Bank),
Primary
Bank,
the
Durham
Trust
Company,
First
Northern
Co-operative
Bank,
First
National
Bank
of
Peterborough
and
the
Granite
Bank
of
Amherst. | | More
from
Market Guide: Expanded
Business Description |
| | Financial Summary | | GSBI
is
a
single-bank
holding
company
for
Granite
Bank,
which
offers
a
wide
range
of
consumer
and
commercial
services.
For
the
six
months
ended
6/30/01,
interest
income
rose
12%
to
$34.5
million.
Net
interest
income
after
LLP
rose
9%
to
$17.4
million.
Net
income
rose
7%
to
$5.4
million.
Net
interest
income
reflects
increased
earning
assets
due
to
the
Olde
Port
Bank
acquisition,
partially
offset
by
higher
deposit
costs.
Net
income
reflects
increased
costs
related
to
the
acquisition. | | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Charles Smith, 58
Chairman
and CEO | $483K | William Pike, 49
CFO,
Exec. VP and Sr. Exec. VP and CFO of the Bank | 210K | Charles Paquette, 48
COO,
Exec. VP, Sec. | 210K | William Henson, 45
Exec.
VP, Sr. Exec. VP and CCO of the Bank | 210K | | 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.. |
| More
from
Market Guide on Officers & Directors:
Expanded
List, Bios,
Compensation,
Options
|
|
![[one-year price graph]](http://chart.yahoo.com/c/0b/g/gsbi.gif)