Lawrence Savings Bank - LSBX- Profile

Lawrence Savings Bank provides various financial services to the general public which include loans for different purposes. The loan portfolio includes commercial real estate, commercial business, construction, residential mortgage, home equity and consumer loans. The bank also offers retail products such as savings, checking, money market, certificates of deposit and individual retirement accounts. The bank operates through four wholly-owned subsidiaries. The bank has five banking offices in Andover, Lawrence, Methuen, North Andover and Massachusetts. The bank has spent approximately $0.5 million towards year 2000 expenses till date. Interest and fees on loans accounted for 59% of 1999 revenues; other interest income, 38% and non-interest income, 3%.