Aurora Bank FSB · Wilmington, DE United States
Company Description
Phone: 302-654-6179
Fax: 302-428-3673
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This link will open in a new window Aurora Bank (formerly Lehman Brothers Bank) offers retail banking services such as checking accounts, money market and retirement accounts, certificates of deposit, credit cards, fixed- and adjustable-rate home mortgages, and mortgage refinancing to customers nationwide on the Web and from two branches in New Jersey and Delaware. It also provides financing to mortgage brokers and owns mortgage lender Aurora Loan Services . Parent company Lehman Brothers filed for bankruptcy protection in September 2008, but Aurora Bank was not part of the filing. To read the full description, subscribe now.
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Key Aurora Bank FSB Financials
| Company Type |
Aurora Bank FSB Executives
7 executives listed for Aurora Bank FSB's Wilmington, DE location.
| Title | Name & Bio | Contact |
| Chairman and CEO | William Lighten | Network |
| COO | Vincent Primiano | Network |
| Head Retail Banking | Gale Stawicki | Network |
Competition
Competitive Landscape for Aurora Bank FSB
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Aurora Bank FSB Competitors
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