FSB BANCORP : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (form 10-K)

FSB Bancorp Inc., formerly FSB Community Bankshares, Inc., is the bank holding company for Fairport Savings Bank. The Company's principal business consists of originating one-to four-family residential real estate mortgages, home equity loans and lines of credit and originations of commercial real estate, multi-family, construction, commercial and industrial, and other consumer loans. The Bank conducts business from four branches located in Penfield, Irondequoit, Webster, and Perinton, New York. The Company has five mortgage origination offices located in Pittsford, Canandaigua, Watertown, Greece, and Buffalo, New York. The Company attracts retail deposits from the general public in the areas surrounding its main office and branches, offering a range of deposit products. Through its wholly owned subsidiary, Oakleaf Services Corporation, the Bank offers non-deposit investment products, consisting of annuities, insurance products and mutual funds.