Charter Financial Corporation operates as the holding company for CharterBank, a federally-chartered savings bank that provides various banking products and services to individuals and businesses in the United States. The company, in addition to 14 branch offices in west-central Georgia, east-central Alabama and the Florida Gulf Coast, operates a cashless branch office in Norcross, Georgia. Lending Activities The company offers a range of loan products with various rates and terms. Its lending operations consist of the following major segments: commercial real estate lending; single-family residential mortgage lending for retention in its portfolio; construction lending; and residential mortgage lending for resale in the secondary mortgage market. To a lesser extent, the company also originates consumer loans, and commercial business loans. Commercial Real Estate Loans: Commercial real estate loans typically have higher yields, shorter durations and larger loan balances compared to residential mortgage loans. Commercial real estate lending also has provided the company with another means of broadening its range of customer relationships. Commercial real estate loans are generally made to borrowers in the southern United States and are secured by properties in these states. Commercial real estate loans are generally made for up to 80% of the value of the underlying real estate. The company’s commercial real estate loans are typically secured by offices, hotels, strip shopping centers, warehouses/distribution facilities, land, multi-family properties, or convenience stores located principally in Georgia, Alabama and Florida. Residential Mortgage Loans The company originates first and second mortgage loans secured by one- to four-family residential properties within Georgia, Florida and Alabama. It originates both fixed-rate and adjustable-rate one- to four-family residential mortgage loans. The company offers fixed-rate and adjustable-rate mortgage loans with terms of up to 30 years. The company originates one- to four-family residential loans with loan-to-values of up to 80%. The company offers home equity lines of credit as a complement to its one- to four-family residential mortgage lending. Home equity credit lines have adjustable rates and are secured by a first or second mortgage on owner-occupied one- to four-family residences located primarily in Georgia, Alabama and Florida. Construction Loans: The company makes loans primarily for the construction of one- to four-family residences but also for multi-family and nonresidential real estate projects on a select basis. It offers construction loans to pre-approved local builders, including loans on both speculative (unsold) and pre-sold properties. Commercial Loans and Consumer Loans: The company originates non-mortgage loans, including commercial business and consumer loans. Its commercial business loans are generally limited to terms of five years or less. The company’s consumer loans are loans on deposits, automobile loans and various other installment loans. Investment Securities As of September 30, 2014, the company’s investment portfolio included tax free municipals; mortgage–backed securities; collateralized mortgage obligations; and private-label mortgage securities. Deposits The company offers a selection of deposit products, including checking, money market, regular savings and term certificate accounts. Supervision and Regulation The company and the bank are subject to comprehensive supervision and regulation that affect virtually all aspects of its operations. This supervision and regulation is designed primarily to protect depositors and the Deposit Insurance Fund, administered by the Federal Deposit Insurance Corporation (FDIC), and the banking system as a whole, and generally is not intended for the protection of stockholders. The company is a savings and loan holding company that is required to file certain reports with, is subject to examination by, and otherwise must comply with the rules and regulations of the Board of Governors of the Federal Reserve System (Federal Reserve Board or FRB). The company is also subject to the rules and regulations of the Securities and Exchange Commission under the federal securities laws. The bank is a federal savings bank or federal savings association, examined and supervised by the Office of the Comptroller of the Currency (OCC) and subject to examination by the FDIC. The bank must also comply with consumer protection regulations issued by the Consumer Financial Protection Bureau. The bank also is regulated to a lesser extent by the FRB, governing reserves to be maintained against deposits and other matters. The company is a non-diversified savings and loan holding company within the meaning of the Home Owners’ Loan Act. As such, the company is registered with the FRB and subject to FRB regulations, examinations, supervision and reporting requirements. The company’s common stock is registered with the Securities and Exchange Commission. As a result, the company is subject to the information, proxy solicitation, insider trading restrictions and other requirements under the Securities Exchange Act of 1934. History Charter Financial Corporation was founded in 1954. The company was incorporated under the laws of the state of Maryland in 2013.
charter financial corp (CHFN:NASDAQ CM)
1233 O. G. Skinner Drive
West Point, GA 31833
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