Market tops 1 000 again on upbeat inflation outlook
The Dow climbs 17.61 to 1 001.71 as airline and aerospace shares surge amid optimism on inflation from Fed Chair Volcker. NYSE volume reaches 56.04 million. major airline gains edge up while oil issues recover some losses.
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Suburban Bancorp to reorganize senior management into product groups
Suburban Bancorp announces a plan at its annual meeting to restructure senior management into product groups to better meet customer needs amid a changing competitive market. Chairman Robert Tar Gio says current senior managers will play major roles, with 1-2 new executives joining to focus on key product areas. The plan follows a Cresap, McCormick and Paget review. First quarter 1981 income rose 4.6 percent to 4,159,000 or 88 cents per share, with net interest income up 25 percent to 17,872,000. Total operating income reached 41,577,000, up from 36,030,000. Return on assets was 1.17 percent versus 1.16 percent a year earlier. Deposits stood at 1.28 billion, stockholders' equity at 115.5 million, and total resources at 1.5 billion. Suburban Bancorp is based in Hyattsville with Suburban Trust Bank and other subsidiaries in Maryland.
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Robert F Tar- Gio
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