Stocks to Watch ? Tower Financial Corp. (TOFC) |

Stocks to Watch ? Tower Financial Corp. (Public, NASDAQ: TOFC)

Tower Financial Corporation is a bank holding company. It has only one bank subsidiary which is the Tower Bank & Trust and two unconsolidated subsidiary guarantor trusts Tower Capital Trust 2, and Tower Capital Trust 3. The Bank has a direct 100% owned Nevada investment subsidiary, Tower Capital Investments, Inc for the purpose of holding long term investments. It also has an indirect wholly owned subsidiary which is the Tower Funding Corporation. It is a real estate investment trust (REIT).

Tower Funding Corporation purchases mortgage-backed real estate loans from the Bank. The Bank is engaged in the provision of several commercial and consumer banking services from six locations in the metropolitan area of the following locations:

• Fort Wayne
• Allen County
• Indiana
• And one location in Warsaw, Indiana.

Lending Activities

It makes loans to individuals and businesses within its market area. Loans can either be secured and unsecured and are available for general operating purposes, including acquisition of fixed assets such as real estate, equipment and machinery, and lines of credit collateralized by inventory and accounts receivable. It provides fixed rate, long-term residential mortgage loans and construction loans to its customers.

Investment Activities

The Bank mainly invests funds that it retains from time to time in different debt instruments. This includes but not limited to obligations guaranteed by the United States, general obligations of a state or political subdivision thereof, bankers? acceptance of deposit of United States commercial banks, commercial paper of United States issuers, or trust preferred securities.

Sources of Funds

It funds its operations and loan growth with local deposits. Second, the Bank also has alternative funding sources as need like advances from the Federal Home Loan Bank, out-of-market deposits and other forms of wholesale financing.Deposits are generated through a range of deposit products to individuals, businesses, associations, financial institutions, and government entities in its primary market areas.

Subsidiary Activities

The Company provides several traditional personal trust services to its customers in its market area. These include estate planning and money management, as well as traditional revocable trusts, irrevocable trusts, charitable trusts, estate administration, guardianship administration, individual retirement account (IRA) administration, personal and institutional investment management, and custodial services.

Tower Financial Corp. (Public, NASDAQ: TOFC) 52 week 7.02 ? 10.25 Mkt cap 48.49M Shares 4.85M

Tags: Stocks to watch, TOFC, Tower Financial, Tower Financial Corp., Tower Financial Corporation

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