Private Bank Coming to Decatur, Headed by Decatur First Bank’s Judy Turner
Decatur Metro | December 28, 2011 | 9:16 am
There have been rumblings for a few weeks now, but it looks like it’s finally official.
According to a letter by Private Bank of Buckhead president Charlie Crawford, Judy Turner and Melanie Funk – formerly of Decatur First Bank – will head up a new branch of Private Bank of Buckhead in downtown Decatur called “Private Bank of Decatur”.
Mr. Crawford continues…
These seasoned bankers have long served the Decatur market and are doing so again from the strength of an organization like ours. This is a great opportunity to introduce a broader market — in this case the people of Decatur — to the high-touch service model that Private Bank of Buckhead clients have come to know and embrace.
What do the people of Decatur need to know about us and our name? We take an egalitarian approach, believing that all clients should benefit from the private banking approach other banks reserve for a certain few.
A location for the new bank branch has yet to be announced, but keep an eye out!
For some of us, this is akin to the return of Eddie Owen to Eddie’s Attic.
There’s a small, nicely furnished bank building on Commerce, adjacent to the Mellow Mushroom, that Fidelity Bank currently owns but does not intend to keep open as a branch. Perhaps they could be talked into renting/selling it.
At the big guy’s bank “private banking”’ means “wealth management”. Do they really mean this for the 99% percent of us who are not really wealthy? (Money wise at least).
We had an account with Private Bank of Buckhead and are happy that they are coming to Decatur. We may even re-open our account there. Great people, great bank.
Nubbs,
Marry me? I really don’t care about how you got your nickname.
<3
I don’t quite understand why the are expanding when their Troubled Asset Ratio is worst than the median for most banks. I’d be afraid that what happened to Decatur First would happen here. Besides aren’t these the same folks that made the decisions that eventually closed Decatur First:http://banktracker.investigativereportingworkshop.org/banks/georgia/atlanta/private-bank-of-buckhead/
Decatur First had a Troubled Asset Ratio number of 557. Private Bank’s is higher than the national average but it is well below the “holy shit” threshold of 100.
A bank is considered “stressed” if it’s ratio is 75%, “troubled” if it reaches 100%. Decatur First’s was over 500%.
Private Bank of Buckhead’s Texas ratio is quite good for this market. The 9/30/11 Texas ratio for Georgia’s surviving banks was 85%.
Are they FDIC insured?
Their site: http://www.privatebankofbuckhead.com/
says they are member FDIC
At the risk of seeming indelicate, what is a private bank?
Holy cow. Did not know the failure of Decatur First Bank cost FDIC $32.6 million.
Pre-coffee, read:
Pirate Bank of Decatur
and sensed another festival coming.
I have dealt with this bank before and as much as I hated driving to Buckhead, they offered good rates and service. I am delighted that they will be coming to Decatur. And we definitely do not qualify for “wealth management”.
We just moved our accounts to Cornerstone and have been very happy! They are well-capitalized, offer very personalized service and are smack in the middle of downtown Decatur.
Just remember, Judy answered toa Board of Directors and also had to struggle under the onerous capitalization requirements of the Obama administration. Decatur Private Bank is a great spot for the talented Judy Turner
Jack, whether it was Obama’s or Bush’s fault something is pretty clear: Someone in the DFB organization authorized shoveling hot money from Decatur to the Burbs, then the rains came.