| Chevy Chase Bank FSB |
7501 Wisconsin Ave.
Bethesda, Md. 20814
Year founded: 1969
Net Income/Loss: $80.48 Million
Earnings per share: n/a
Stockholder equity: $623.83 Million
Auditor: Ernst & Young LLP
Assets: $12.62 Billion
Market capitalization: n/a
52-week high: n/a
52-week low: n/a
Chairman and CEO: B. Francis Saul II
CFO: Stephen R. Halpin Jr.
Local employees: 3425
Description: Chevy Chase is the largest bank based in the Washington area, with more than 200 branches and more than 750 ATMs, many in high-traffic shopping malls. The bank also has full-service branches in some Giant Food stores. Chevy Chase is owned and controlled by B. Francis Saul II and his corporate entities.
Developments: Chevy Chase, already ubiquitous in affluent suburban Washington, continued to expand in 2003, opening 14 more branches and installing nearly 50 more ATMs. Chevy Chase rolled out a new Small Business Banking package last year, including a business check card and online banking for small businesses. The bank also sought to raise the profile of its Real Estate Banking Group, helping finance a number of major projects in the region, including the new office building at 1700 K St. NW. Chevy Chase said its new mortgage loan originations increased 80 percent in 2003, reaching a record $9 billion. The bank also said that its home equity lending business grew, with outstanding loans now at an all-time high of $1.4 billion. In personnel moves, the bank named Peter M. Welber president of Chevy Chase Trust and Daniel B. Mulvey president of ASB Capital Management.
© 2004 The Washington Post Company