The group's principal activities are to attract deposits from the general public and invest such deposits along with other sources of funds, in loans secured by one-to four family residential real estate. The group originates multi-family loans, construction loans and land loans for single-family properties and invests in mortgage-backed securities issued or guaranteed by the United States government or agencies. At 31-Dec- 2003, the group had 41 offices, of which 36 were located in palm beach county, three were located in martin county and two were located in st lucie county in southeastern Florida.
