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Investment management Investment management is the professional asset management of various securities, including shareholdings, bonds, and other assets, such as real estate, to meet specified investment goals for the benefit of investors. Investors may be institutions, such as insurance companies, pension funds, corporations, charities, educational establishments, or private investors, either directly via investment contracts or, more commonly, via collective investment schemes like mutual funds, exchange-traded funds, or REITs.
Investment fund An investment fund is a way of investing money alongside other investors in order to benefit from the inherent advantages of working as part of a group such as reducing the risks of the investment by a significant percentage. These advantages include an ability to:\n\nhire professional investment managers, who may offer better returns and more adequate risk management;\nbenefit from economies of scale, i.e., lower transaction costs;\nincrease the asset diversification to reduce some unsystematic risk.It remains unclear whether professional active investment managers can reliably enhance risk adjusted returns by an amount that exceeds fees and expenses of investment management.
Lluís Companys Lluís Companys i Jover (Catalan pronunciation: [ʎuˈis kumˈpaɲs]; 21 June 1882 – 15 October 1940) was a Spanish politician from Catalonia who served as president of Catalonia from 1934 and during the Spanish Civil War.\nCompanys was a lawyer close to labour movement and one of the most prominent leaders of the Republican Left of Catalonia (ERC) political party, founded in 1931.
Passeig de Lluís Companys, Barcelona Passeig de Lluís Companys (Catalan pronunciation: [pəˈsɛdʒ də ʎuˈis kumˈpaɲs]) is a promenade in the Ciutat Vella and Eixample districts of Barcelona, Catalonia, Spain, and can be seen as an extension of Passeig de Sant Joan. It was named after President Lluís Companys, who was executed in 1940.
Conxita Julià Conxita Julià i Farrés (Catalan pronunciation: [kuɲˈʃitə ʒuliˈa j fəˈres]; 11 June 1920 – 9 January 2019), also known as Conxita de Carrasco, was a Catalan woman noted for her dealings with Lluís Companys, President of Catalonia, in the 1930s, and for her poetry. Julià died in January 2019 at the age of 98.
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Core banking Core banking is a banking service provided by a group of networked bank branches where customers may access their bank account and perform basic transactions from any of the member branch offices.\nCore banking is often associated with retail banking and many banks treat the retail customers as their core banking customers.
Commercial bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit.\nIt can also refer to a bank, or a division of a large bank, which deals with corporations or large/middle-sized business to differentiate it from a retail bank and an investment bank.
Federal Deposit Insurance Corporation The Federal Deposit Insurance Corporation (FDIC) is one of two agencies that supply deposit insurance to depositors in American depository institutions, the other being the National Credit Union Administration, which regulates and insures credit unions. The FDIC is a United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks.: 15  The FDIC was created by the 1933 Banking Act, enacted during the Great Depression to restore trust in the American banking system.
Second-language acquisition Second-language acquisition (SLA), sometimes called second-language learning — otherwise referred to as L2 (language 2) acquisition, is the process by which people learn a second language. Second-language acquisition is also the scientific discipline devoted to studying that process.
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Economy of India The economy of India is a middle income developing market economy. It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP).
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Umm Al Quwain Umm Al Quwain is the capital and largest city of the Emirate of Umm Al Quwain in the United Arab Emirates.\nThe city is located on the peninsula of Khor Al Bidiyah, with the nearest major cities being Sharjah to the southwest and Ras Al Khaimah to the northeast.
Bank of America Home Loans Bank of America Home Loans is the mortgage unit of Bank of America. In 2008, Bank of America purchased the failing Countrywide Financial for $4.1 billion.
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Risk Factors
MONARCH COMMUNITY BANCORP INC ITEM 1A Risk Factors You should consider these risk factors, in addition to the other information in this Form 10-K, before deciding whether to make an investment in our Company’s stock
Our future profits may be affected by our inability to grow core deposits We have had difficulty growing our core deposits
Competition in our market for core deposits is intense
Our net income is heavily dependent on net interest income
If we are unable to grow our core deposits, we will be required to obtain higher costing funds to facilitate asset growth
This could cause our future profits to be below peer
We have done this because competition for Commercial Real Estate loans in our local markets is intense
Lending outside of our normal market area may cause increased loan losses in the future if we lend in an area that we are not familiar with and that local economy suffers a recession
We are dependent on the strength of our local economy for our growth and profitability The success of our business depends on our ability to generate profits and grow our franchise
Our three county market area has a population base of approximately 233cmam000, and an economy based primarily on manufacturing and agriculture
Our local economy has not grown, and is not projected to grow as rapidly as the national economy
Job losses and unemployment rates in all three counties exceed the state and national averages
Our loan portfolio possesses increased risk due to our subprime residential lending Up until a few years ago, a significant portion of our one-to-four family residential loan originations were considered subprime
At December 31, 2005, 12dtta2prca of our residential mortgage loans were subprime loans
Our foreclosure rates on our residential loan portfolio are significantly higher than peer and we believe this is, to a significant extent, the result of our subprime residential lending and the economy in our market area
Future foreclosures will negatively impact profits because of higher loan loss provisions and expenses related to foreclosed properties
30 _________________________________________________________________ [65]Table of Contents If we lose our executive officers, it could adversely affect our operations The successful operation of Monarch Community Bancorp and Monarch Community Bank is greatly dependent on the continued availability of capable executive officers
At present, the only executive officers of both Monarch Community Bancorp and Monarch Community Bank are Donald L Denney, President and Chief Executive Officer, William C Kurtz, Senior Vice President and Chief Operations Officer, Andrew Van Doren, Secretary and Corporate Counsel, Ralph Micalizzi, Chief Financial Officer and Treasurer, Eric Cook, Vice President and Vicki Bassage, Assistant Secretary
We have entered into a two-year employment agreement with Mr
We do not have key man insurance on any of our executive officers
The amount of common stock controlled by insiders, our articles of incorporation and bylaws and state and federal statutory and regulatory provisions could discourage hostile acquisitions of control Purchases of common stock by directors and officers are for investment purposes and not necessarily for resale
Inside ownership of Monarch Community Bancorp (totaling 387cmam030 shares as of December 31, 2005) is significant and this inside ownership and provisions in our articles of incorporation and bylaws may have the effect of discouraging attempts to acquire Monarch Community Bancorp, a proxy contest for control of Monarch Community Bancorp, the assumption of control of Monarch Community Bancorp by a holder of a large block of common stock and the removal of Monarch Community Bancorp’s management, all of which certain shareholders might think are in their best interests
These provisions include among other things: • the staggered terms of the members of the Board of Directors; • an 80prca shareholder vote requirement for the approval of any merger or consolidation of Monarch Community Bancorp into any entity that directly or indirectly owns 10prca or more of Monarch Community Bancorp voting stock if the transaction is not approved in advance by at least a majority of the disinterested members of Monarch Community Bancorp’s Board of Directors; • supermajority shareholder vote requirements for the approval of certain amendments to Monarch Community Bancorp’s articles of incorporation and bylaws; • a prohibition of any holder of common stock voting more than 10prca of the outstanding common stock; • elimination of cumulative voting by shareholders in the election of directors; • restrictions requiring Board members to live or work in Branch County’s market area; • restrictions on the acquisition of our equity securities; • the authorization of five million shares of preferred stock that could be issued without shareholder approval on terms or in circumstances that could deter a future takeover attempt; and • the increase in the number of authorized shares and the reclassification of shares without stockholder approval
In addition, the Maryland business corporation law, the state where Monarch Community Bancorp is incorporated, provides for certain restrictions on acquisition of Monarch Community Bancorp, and federal law contains restrictions on acquisitions of control of savings and loan holding companies such as Monarch Community Bancorp
The low trading volume in our common stock may make the value of the stock volatile and may make it difficult for shareholders to sell their shares when they desire Historically, there have been times when trading volume has been low
During those times the Company’s stock price has encountered some decline
Average daily trading volume for the years ending December 31, 2005 and 2004 were 1cmam658 and 2cmam859 shares respectively
The high and low levels of our stock price for each quarter of the last two fiscal years is disclosed in this document
A more detailed history of the Company’s stock price can be found under our stock symbol (MCBF)