Each character is a 16*16 dot matrix encoded by the 16-bit integer. Old systems (from the beginning of IBM compatibles until early 1990-ish) had hardware accelerators if they wanted to use multiple fonts, IIRC one of the few breakthrough products made by Lenovo.
This one synthesized characters from geometric decomposition (and not a completely artificial one either, but Cangjie which is actually widely used to this day for computer text entry).
The stored data representation exactly matched the input form (perhaps not so surprising to users of ASCII).
http://vncroulette.com/images/115.218.120.95.jpg