Thrifts are seldom mistaken for risk-free growth companies, but that is exactly what Stan Bradshaw has been building.
The youthful chief executive of Chesterfield, Mo.-based Roosevelt Financial Group has wracked up 20%-plus returns on equity and has given shareholders double-digit earnings growth at a time when many thrifts are waiting to die or be bought out.
Mr. Bradshaw's thrift isn't likely to do either. Analysts say he runs a well-matched portfolio that is not likely to see margins contract as interest rates rise. While the acquisitions which have made the $8 billion-asset thrift the 10th largest in the United States are likely to slow, Roosevelt can boast growth prospects that make its stock one of the best performers in the sector.
At Roosevelt, which does not have a poison pill, Mr. Bradshaw continues to preach the gospel of expansion. "Our employees look around and see the consolidation, and they worry about their jobs," he said. "I tell them there is only one kind of security you can truly have, and that is performance."
