Don't Leave Independent Seats Vacant for Long The board of Pulaski Financial Corp. in St. Louis hasn't done much wrong over the past decade. The once-sleepy mutual thrift had four branches and $168 million in assets when it went public in 1998. Today, $806 million Pulaski has nine branches and is regarded as one of the top-performing thrifts in the nation, with a 2005 return on equity of 16.55%. The company's emphasis on a handful of consumer products, including mortgages and home equity lines of credit, has fueled compounded annual earnings growth rate of 25% since the IPO. "It's been...
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John R. Engen is a freelance writer and a contributor to Bank Director magazine.