Local Financial's CEO Edward Townsend Talks to the Wall Street Transcript
NEW YORK, May 23 /PRNewswire/ -- The Wall Street Transcript has published an in-depth interview with Edward Townsend, CEO of Local Financial (Nasdaq: LFIN), in which he talks at length about the company's future.
The entire 1,900-word interview is available free online at twst.com.
Townsend states, "Local Financial Corporation is the parent company of Local Oklahoma Bank, which is a national bank based in Oklahoma City. We have 51 branches strategically positioned in 33 communities across Oklahoma; total assets of $2.3 billion; total deposits of $1.85 billion. Local is the third largest commercial bank headquartered in the State of Oklahoma, offering a complete array of commercial and consumer deposit, loan and investment products. We are a customer relationship-driven organization in a very traditional sense, which gives us a competitive edge in Oklahoma. We are a brick-and-mortar institution and I'm proud of that fact."
Townsend explains, "We have been successful in attracting a group of very qualified people in all disciplines: operations, finance, technology, lending and investments. Our enthusiasm in the marketplace and our size are big factors in terms of being very responsive in making decisions that will impact customers. We also have a very seasoned credit management staff. The primary driving force of our corporate strategy is credit quality."
Looking forward, Townsend states, "My primary mission is to build shareholder value. I have invested a significant amount of my own capital in this transaction. I want to see this company become a dominant player in Oklahoma banking. We are well on our way to being one of the top two players in the market. Our gain in market share has been impressive and our loan growth has been carefully underwritten."
This interview is part of a 170-page Regional Banks Issue available at twst.com or by calling 212-952-7433. |
