Never happens!!!
They get off the ground, as you say, by the people starting the bank contributing a considerable sum of money for stock in the bank.

Then they supply operating money to mostly developers and builders since few of them will use their own money to build and wait for a sale.

Name one small store front business that these banks helped get "off the ground."

They can hardly keep from laughing in their face when they submit the application. Then they ask for a home lien, a personal guarantee, control over their finances (everything to their bank), and of course the "right arm."

So said James Carville in 1992. Applies to this bank and many others. Builders and Developers can afford to pay hundrds of thousands of dollars in interest every month (yes I said every month)because they are pulling in hundreds of thousands more - 20% profit margin on each house, 50% on each lot. All they have to do keep feeding the machine with product and it is like printing money. And the bank wins big time as well since they have multiple builders and developers bringing in the cash every day. And the beautiful thing is that it is all cash from some other bank who will supply money to temporary homeowners/borrowers who didn't have the credit, income or assets needed to stay in the house. All encouraged by the federal 'gummint Worked great until 2007 when it all went away overnight.

Values down 30-40% and no interest payments and no sales. Bank can't survive.

Well it is called greed---not progress.

Poor management--meant to make money only---not serve the public, always is wrong. I think the Bible said they were money-changers!

chartered in December 2000. I was one of the first investors and know this for a fact. Many of the same people who established this bank also chartered and opened Regions years ago but that was sold long time ago.

Still it was yet again another local bank formed to enhance builder and developer fantasies.
They are definitely on life support. The next step is to require a huge infusion of capital to put the portfolio back in balance and if they are dumb enough and have enough money to do that, the Feds will wait to take over. And by waiting they are able to reduce their losses.

That happened in Newnan and it happened in Fayetteville. Just watch.

Hey are the bankers gonna save the taxpayers and stockholders or themselves by keeping their money?

That answer is obvious, isn't it.

Bankers and Insurance people are still paying multi-millions to departing officers for totally failing---with taxpayers bail-out money, no less. Bad side of capitalism---greed.

Oh, so you are a banker? How much did you make on Regions and how much did you lose on BOG?

did I indicate I was a banker. As I said, I invested in the bank. That does not make me a banker. And I will share my profits and losses with you as soon as I receive all your financial records for the last ten years, including but not restricted to all IRS filings.

The only people investing in those type startup banks are the board of directors, usually. If those aren't bsnkers then I don't know what they are! Some few may not be directors if the raising of the million each was short!

I didn't expect you to say exactly how much---just how you did? And, where did it come from?

I am not a banker, board of director or anything but an everyday citizen (I started to say just like you but that would be a stupid remark on my part). You always love to give the impression that you are informed in every area--but you are sadly lacking in many. As that old statement goes "You don't know Jack S--t! As for how much and where did it come from, I will share that information with you when you give me all the information I requested from you. Seems fair enough to me--and you are always yapping about being fair. So the ball is in your corner. Put up or shut up!

OK, here is my statement:

I have "jack s..t" as you said--no cash or assets--just a little pension.

Now, how much you got? Details aren't necessary, just the net assets will suffice.

knowledge and intelligence would not be well heeled, but then some of those "little pensions" are not so little in reality. As I said before "show me yours and I will show you mine." Til then save your energy and brain power. I do not give out my personal information to anyone--and yes I do know some of the people from the bank--but then I know lots of people. Just think I may even know you and neither of us are aware of that fact. But then, you would have to be very different in person because I would not waste more than one minute on someone with your tainted views in person--and it would probably take no more than one minute to get a read on you if you are as you are here. Oh, I will tell you--I, too, have a little pension---called Social Security which I paid in to for many years. Earned fair and "squair" as you would say. Salud

I thought you would welsh.

So I'm tainted? Are you in any way?

Reads taken in a minute are always wrong!

You said again show you my statement and you would show yours, but then said in no way would I do that!
Now I read people from statements like that!!!!!

I put this into preferred stocks and made a killing and got out just in time. I invested other money I had in the new bank and made 5.6 million and pulled mine out before things went bad--this inside information you know! I now have about 25 mil to play with--I am giving huge amounts to the churches in the vicinity because you know they are all only in for the money. I am paying Columbo to find where you live--he came pretty cheap since he has not done too well in the entertainment field lately. When I do learn where you live I am going to buy all the property around you, pay off the council and get it rezoned so I can build the biggest Red Door type bar imaginable, then I will pay off the police so they do not enforce closing time and will turn a deaf ear to any noise or fights. I will hire the loudest, drug infesested band I can find and the biggest amps available and have them play all night. It will not disturb anyone else, because no one else will be living around you. Then I will hire ALL of the Praise Bands and have them all play for you all day Sunday, cause you know they are all in it only for the money--now if you see the light and decide to convert that will be okay too. I can just see you playing the kazoo. Or, if you decide to go the other way and join the revelers in the Red Door Extravaganza they will be there to pray for your soul because you know they will do anything for money. Then whatever money is left I will buy me the best champagne and sit with my earplugs in and know that my money has been well spent.

If you really do have that much money then it would be possible for you to do as you say in PTC.

Money talks here.

However I don't believe you. However I would say that many who started and sold banks here for years made enough money from the bank sales to support all those out of a job here now and those about to lose their home.

Well thought out!!! Great use of funds and proper charitable giving. Thanks for sharing.

Bonkers still doesn't get it.

When dealing with the 'multi-handled' one, be advised that maintaining any dialog with him is akin to conversing with a sign and expecting a cogent retort.

You might converse with signs, I don't know, but it seems to me that I converse with you about all you want to hear! Even more!
Some don't want to know any more than they now know.

from a sign. This is one brain that should be studied. I wonder if he ever re-reads anything he blogs? I sincerely doubt it. I do get pleasure out of trying to determine which old fart I come across being a pain in stores etc, happens to be our "multi-handled" one.

Seems to me that you would know some of those old far.. in your bank!

Maybe I'm one of them!

Truths are painful, I agree.

Yes, I know some of those bank stock holders you mentioned at Bank of Georgia. Some developers, some pilots, etc.

When that bank was formed it was my understanding that the reason for such formation of many small banks in those days was to be sold in five years to a chain large bank---many were. Stockholders (there were very few of them)oftentimes sold their stock to the chain bank for millions, providing they had been able to generate a going business in those five years.

Unfortunately, the people to whom they loaned didn't always have a "going business."

I don't know why this one didn't get sold to a chain, producing huge profits for the few stockholders. Maybe it was just for the directors to aid development!

People with money can usually make money using such techniques. I'm sure the loss of a fortune, even though still well off, is just as painful as those who lose their job or home.

Yep, that is why these banks were formed. Milk the thing for 5 years then sell to a larger bank. In fact, these dudes did that - selling their old bank to Regions and then they formed this one.

Bad timing. Banks are in the ###### and certainly no one is buying up small community banks. So, they gambled and lost. Sad.