Ajs Bancorp Inc [Il] (AJSB)

AJS Bancorp, Inc. is a mid-tier stock holding company for A. J. Smith Federal Savings Bank. A. J. Smith Federal Savings Bank was founded in 1892 by Arthur J. Smith as a building and loan cooperative organization. In 1924, the Company and the Bank were chartered as an Illinois savings and loan association, and in 1934 were converted to a federal charter. The Company is a customer-oriented institution, operating from a main office in Midlothian, Illinois, and two branch offices in Orland Park, Illinois. Its main business activity is the origination of one- to four-family real estate loans. The Company invests in securities, mainly United States Government Agency securities and mortgage-backed securities. In addition, it offers insurance and investment products and services. A. J. Smith Federal has been, and continues to be, a community-oriented savings bank offering a number of financial products and services to meet the needs of the communities it serves. The Company's lending and deposit-generating area is concentrated in the neighborhoods surrounding its three offices; one in Midlothian, Illinois, and two branch offices in Orland Park, Illinois. The Company's loan portfolio is comprised mainly of one- to four-family residential real estate loans. It faces significant competition in both originating loans and attracting deposits. The Company's competition for loans comes mainly from commercial banks, savings banks, mortgage banking companies, credit unions, and other financial service companies. The Company's direct competition for deposits has historically come from commercial banks, savings banks and credit unions. It faces additional competition for deposits from non-depository competitors such as mutual funds, securities and brokerage firms, and insurance companies. The Company is permitted under federal law to invest in various types of liquid assets, including United States Government obligations, securities of various federal agencies and of state and municipal governments, deposits at the Federal Home Loan Bank of Chicago, certificates of deposit of federally insured institutions, certain bankers' acceptances and federal funds. Within certain regulatory limits, it might also invest a portion of its assets in commercial paper and corporate debt securities.