| | Business Summary | | Yonkers
Financial
Corporation
was
formed
for
the
purpose
of
owning
all
outstanding
stock
of
The
Yonkers
Savings
and
Loan
Association,
FA
(the
Association)
that
was
issued
in
its
conversion
from
the
mutual
to
stock
form
of
organization.
The
Company's
principal
asset
is
its
investment
in
the
stock
of
the
Association,
although
it
holds
other
investments
and
a
loan
to
its
Employee
Stock
Ownership
Plan.
As
a
community-oriented
financial
institution,
the
Association
offers
a
variety
of
financial
services
to
meet
the
needs
of
communities
in
its
market
area.
The
Association
also
invests
in
mortgage-backed
and
other
securities
permissible
for
a
federally
chartered
savings
association.
The
Company's
primary
market
area
for
deposits
includes
the
City
of
Yonkers
and
the
communities
surrounding
its
in-store
branches.
Its
primary
market
area
for
lending
activities
consists
of
communities
within
Westchester
County
and
portions
of
Rockland,
Putnam
and
Dutchess
Counties,
New
York
City
and
Long
Island. | | More
from
Market Guide: Expanded
Business Description |
| | Financial Summary | | YFCB,
a
holding
company,
is
a
federally
chartered
mutual
savings
and
loan
association.
For
the
nine
months
ended
6/30/01,
total
interest
income
increased
7%
to
$28.6
million.
Net
interest
income
after
loan
loss
provision
decreased
1%
to
$10.2
million.
Net
income
increased
17%
to
$2.8
million.
Total
interest
income
reflects
higher
volume
of
interest-earning
asset.
Net
interest
income
after
LLP
were
offset
by
higher
interest
on
deposits.
Earnings
reflect
higher
service
charges
and
fees. | | More
from
Market Guide: Significant
Developments |
| | | William
G. Bachop,
Chmn.
P. Anthony
Sarubbi,
Vice
Chmn.
Richard
F. Komosinski,
Pres./CEO
Joseph
L. Macchia,
VP/Secy./COO
Joseph
D. Roberto,
VP/Treas./CFO. | More
from
Market Guide on Officers & Directors:
Expanded
List, Bios,
Compensation,
Options
|
|
![[one-year price graph]](http://chart.yahoo.com/c/0b/y/yfcb.gif)