First Palm Beach Bancorp, Inc. provides general banking services. The bank's principal business is that of attracting retail deposits from the general public and investing those deposits together with funds generated from operations and borrowings primarily in one to four family owner occupied residential mortgage loans, consumer loans construction loans, real estate loans and multi family residential loans mortgage loans. The bank's deposit gathering and lending markets are primarily concentrated in the Palm Beach, Martin, Broward and Dade counties in southeast Florida and Lee county in soutwest Florida. The company acquired PSB Financial Corp in fiscal 1996. Interest and fees on loans accounted for 70% of fiscal 1997 revenues; other interest income, 23 % and non-interest income, 7%.