Geneva Financial Corp. (GNVN.PK)

Geneva Financial Corp. operates as the holding company for Geneva Mortgage Corp. that provides various residential mortgage banking products primarily to prime credit borrowers seeking conventional loans in the United States. The company operates its mortgage banking activities through a wholesale loan operation that originates loans through independent mortgage brokers, as well as a retail loan operation that originates loans through the use of the Internet. It conducts operations in 13 states with offices in New York, New Jersey, and Florida. The company was founded in 1997. It was formerly known as PMCC Financial Corp. and changed its name to Geneva Financial Corp. in 2003. Geneva Financial is based in Rockville Centre, New York.

Geneva Financial Corp. is a specialty consumer financial services company providing a broad array of residential mortgage products. For the three months ended 3/31/04, revenues fell 20% to $2.4M. Net income fell 54% to $213K. Revenues reflect fewer gains on the sale of mortgage loans due to a decrease in mortgage loan origination volume. Net income also reflects a decreased absorption of salaries and other general and administrative expenses.