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First Landmark Bank named Top 25 Small Business

At the Cobb Chamber First Monday Breakfast held this morning at the Atlanta-Northwest Marriott, the AJC and the Chamber recognized First Landmark Bank as a Top 25 Small Business of the Year.  Accepting the award plaque for the Bank were Ron Francis, Terri Bunten and Terry DeWitt.

Also recognized were business owners from 24 other well-deserving small businesses, some of which are our clients.  We also congratulate Amber Burckhalter, owner of K-9 Coach Bed & Bark, this year’s Cobb Chamber Small Business of the Year.  Please enjoy the photos from this morning’s exciting breakfast. 

Special Alert for our Clients

SUBJECT: Fraudulent E-Mails Claiming to Be From the FDIC
Summary: E-mails that claim to be from the FDIC are reportedly in circulation.

The Federal Deposit Insurance Corporation (FDIC) has received numerous reports of fraudulent e-mails that have the appearance of being from the FDIC.

The e-mails appear to be sent from various “@fdic.gov” e-mail addresses, such as “subscriptions@fdic.gov,” “alert@fdic.gov,” or “accounts@fdic.gov.”

They have subject lines that read: “FDIC: Your business account” or “FDIC: About Your Business Account.”

The e-mails are addressed to “Business Customer” or “Business Owner” and state “We have important information about your bank” or “…financial institution.” They then ask recipients to “Please click here to find details.”

They conclude with, “This includes information on the acquiring bank (if applicable), how your accounts and loans are affected, and how vendors can file claims against the receivership.”

These e-mails and the link included are fraudulent and were not sent by the FDIC. Recipients should consider the intent of these e-mails as an attempt to collect personal or confidential information, or to load malicious software onto end users’ computers. Recipients should NOT access the link provided within the body of the e-mails and should NOT, under any circumstances, provide any personal financial information through this media.

Consumers should be aware that other subject lines and modifications to the e-mails may occur over time. The FDIC does not directly contact consumers in this manner nor does the FDIC request personal financial information from consumers.

For more information, visit the FDIC’s Website at www.fdic.gov/news/news/SpecialAlert/2011/index.html. To learn how to automatically receive FDIC Special Alerts through email, please visit www.fdic.gov/about/subscriptions/index.html.

First Landmark Named Top 25 Small Business

The Cobb Chamber of Commerce has named First Landmark Bank one of their Top 25 Small Businesses of the Year.  “We are excited to be included in an elite group of local small businesses,” said bank president Ron Francis, “and consider it an honor to be selected in our first year of eligibility for the award.” 

First Landmark Bank will be recognized at the Chamber’s First Monday breakfast, June 6, 2011.  For a complete list of the Chamber’s Top 25 businesses, please go to http://www.cobbchamber.org/sboy .

Approaching Your Bank for that Much Needed Loan

Despite the media coverage to the contrary, commercial banks continue to lend. In fact, lending is a large part of every commercial bank’s strategic plan. Even in the midst of this recession, credit standards have changed little and understanding how a bank approved a loan may help you navigate the credit process.

First, understand your personal borrowing philosophy and share it with your banker. Are you debt adverse? Are you more concerned about cash flow and low payments? DO you prefer to hold on to your cash and maximize borrowing? Or use you cash to pay down on purchases to minimize your interest expense? Next get to know your bank. All banks are not the same, having different expertise and varying policies. It is important to determine if your bank’s lending philosophy fits your needs.

Every business owner needs to have a relationship with their banker. A business owner should ensure their banker has some leave of expertise or understanding of their business cycle. If your first meeting with a banker is to present a signed contract with a request for a loan, the banker has no track record on which to base your request.

To determine if a loan will be approved, a bank analyzes the risks associated with the repayment of the loan. This is accomplished in three ways.

  • Repayment of the monthly principal and interest payment. Funds should come from cash flow from operations and is documented with a term called debt service coverage. This is calculated as: Company’s cash available for debt service (shorthand method is to take net income and add all non cash expenses, i.e. depreciation, and interest expense) divided by company’s total debt service (all monthly debt obligations plus the new loan payment added together and annualized). The resulting number is called a debt service coverage ratio. Most banks look for their number to be above 1.25 times, which means for every dollar of debt service the company has, it generates $1.25 in cash to make the payment.
  • Liquidation of the collateral. The type of collateral on a loan, often the item being purchased, generally dictates the terms of the repayment. Short term collateral such as inventory and accounts receivable has limited cycles and requires a short payment. A building with a useful life of 40 years allows for an amortization of between 15-25 years depending on the bank’s policy.
  • Speculative loans. If the loan proceeds must be used to generate the income necessary to adequately repay the loan, the loan would be considered a speculative loan, which has a greater amount of risk associated with it. This type of loan would require additional sources of repayment, possibly including an SBA guaranty.

It is also important that the banker receive all the necessary financial data needed to determine a company’s ability to repay the loan:

  • Three years of complete tax returns
  • All owners of 20% or more of a company will need to provide current personal financial statement and two years of complete personal tax returns
  • Listing of all business debt including monthly payments, maturity dates and interest rates
  • Resume on the company and owners

All major financial decisions for a business should be made after consulting an accountant, attorney and banker. A banker is an advisor and should be relied upon when making any decisions that will ultimately affect the cash flow of the business or ability to repay new or existing debts.

Article written by Terri Bunten, Executive Vice President/Chief Lending Officer of First Landmark Bank.

Limited Edition Greeting Cards For Sale

First Landmark Bank is pleased to present the 2010-2011  limited-edition greeting card entitled “Remembrance”, masterfully painted by local artist Nita Burge.

For the second consecutive year, First Landmark Bank commissioned an oil-on-canvas painting for the specific purpose of creating greeting cards to raise funds to benefit the community.  All proceeds from the sale of the 2010 cards will be donated to two local organizations, The Extension and Cobb Landmarks and Historical Society.  We invite you to visit the Bank at 307 N. Marietta Parkway to purchase gift-boxed sets of 12 cards, for $10 - cash or check – and view the masterful original.  The cards are available for purchase in the banking office and are available while supplies last.  

For more information, contact First Landmark Bank at 770-792-8870.

Member FDIC

First Landmark Bank Hires Beth Kornegay-Tyler

August 6, 2010 (Marietta, Ga.)— First Landmark Bank President Ron Francis announces the addition of Senior Vice President Beth Kornegay-Tyler as a commercial lender and business development officer for the Bank. In his announcement, Mr. Francis said, “First Landmark is fortunate to bring on board a well-respected, experienced lender. We are in the business to help local companies and individuals succeed, and Beth shares that philosophy and possesses the experience to expertly consult with her clients.”

Mrs. Kornegay-Tyler, who is from a banking family, received her BBA in Banking and Finance from the University of Georgia. Beth has been in the financial industry for over 30 years most recently serving as Senior Vice President, Private Banking Relationship Management with Bank of North Georgia. Her background includes extensive experience and management of all types of personal, small business and commercial relationships with a strong emphasis on professional lines of business for all types of bank products and lending services. Additionally, Beth has excellent experience in the recognition and organization of bank client relationships in serving as a liaison to wealth management, trust, and estate planning professionals for individuals and businesses.

Mrs. Kornegay-Tyler is a past Chairperson, Treasurer, and Vice President of Events for the North Buckhead Kiwanis Club and most recently for school fundraising events where Beth resides with her family in the Sandy Springs/Perimeter area. As an Atlanta native, she is very familiar with and known to many in all surrounding Municipalities to include Marietta.

First Landmark Bank opened as a state-chartered de novo bank in March 2008. The Bank recently relocated to its new corporate headquarters and banking office located at 307 North Marietta Parkway in Marietta. At this location, the Bank now offers drive-thru banking, a night depository and an ATM. The Bank offers traditional banking products and services, and additional on-line banking, cash management and remote deposit banking services. Member FDIC.

First Landmark Bank is not a publicly traded company and has approximately 250 shareholders, most of whom reside and/or work in Marietta, Cobb County and northwest Atlanta. The Bank opened in March 2008 with approximately $21 million in capital, and by June 30, 2010, the Bank had grown to over $140 million in total assets.

First Landmark Bank Holds Topping Out Ceremony for New Office Under Construction

First Landmark Bank held a Topping Out ceremony today at its new banking and corporate headquarters building currently under construction on the North Marietta Parkway at Cole Street.

As is tradition at a Topping Out ceremony, bank representatives John Moore and Ron Francis and building consultant and construction manager Joe Kassler of Level5 recognized and thanked the steel workers who are the first to reach the top of the building. All ceremony guests and construction field workers were asked to sign the ceremonial beam, which had been painted white. Following a prayer by Marietta Ward 5 City Councilman Anthony Coleman, in which he prayed for the safety of all workers to come behind to finish the building, the beam was raised to the building’s highest point where two steel workers bolted it in place.

In addition to raising the beam, a large U.S. flag was on display on the top of the building in celebration of the business and industry taking place on the construction site. Others attending the ceremony were Mayor Bill Dunaway; bank directors Steve Cole, Bob Krause, Linda McKinley and Woody Snell, advisory board chairman Chris Foster, and bank officers Terri Bunten and Terry DeWitt, among others, of First Landmark Bank; John Wise and Laurie Lane, Summer/Wise & Associates (architect); Rev. Martha Randall, Union Chapel United Methodist Church; and representatives from project contractors White Hawk, Gaskins, EWM Electrical, Midway, GEM and Quality Concrete. The planned three-story, 22,000 square foot building has an estimated completion date of March 2010.

First Landmark Bank opened in March 2008 with $21 million in capital and through June 30, 2009 grew to over $75 million in total assets. The bank’s temporary location is 48 Atlanta Street, two blocks south of the Marietta Square. Level5, a Cobb County-based financial facilities consultant and design-build firm is the general contractor for the project.

First Landmark Bank Hires Jan L. Elrod

Marietta, Ga. (July 13, 2009)— First Landmark Bank president Ronald H. Francis recently announced the hiring of Jan L. Elrod as Vice President of Loan Operations and as Compliance Officer. Ms. Elrod‘s responsibilities will include loan operations and post-closing review of consumer and commercial loans and overseeing the Bank’s compliance and Community Reinvestment Act functions.

Ms. Elrod has served in the local banking markets for over 20 years and was most recently with a local community bank for six years. A life-long Marietta resident, Ms. Elrod graduated from Wheeler High School and continued her education through numerous banking schools, courses and specific training in her field with the American Bankers Association, the Georgia Bankers Association and the Community Bankers Association. In May 2009, Ms. Elrod received her CRCM designation following completion of all requirements and examination for the Certified Regulatory Compliance Manager designation.

“We are pleased that Jan agreed to join First Landmark Bank,” stated President Ron Francis, “As she brings a wealth of experience and knowledge with her and will be a tremendous benefit to us in both areas as we continue to grow.”

First Landmark Bank opened in March 2008 and is the only bank headquartered in the City of Marietta. Located one block south of the Marietta Square at 48 Atlanta Street in temporary quarters, the Bank recently broke ground on its permanent banking facility at the intersection of the North Marietta Parkway and Cole Street in Marietta, scheduled for completion March 2010.

First Landmark Bank to Break Ground on Marietta Banking and Corporate Office

January 29, 2009 (Marietta, Ga.) — First Landmark Bank will hold the ground breaking of its new banking and corporate headquarters building at the bank construction site located at the intersection of the North Marietta Parkway/Cole Street (325 N. Marietta Parkway) on Thursday, February 5th, at 9:00 a.m. The planned three-story, 21,000 square foot building is inspired by the old Cobb County Courthouse and, when completed, will be a landmark building on one of the City’s gateways to the downtown Marietta area. The project, which will also include an ATM and drive-through facility, will take approximately twelve months to complete.

Attending the groundbreaking will be First Landmark Bank Chairman of the Board and local attorney John Moore, President Ron Francis and board members Steve Cole of Robert Bowden, Inc., Richard Gardner, D.M.D., attorney Andrew Jones, Bob Krause of Newport Development, Linda McKinley, Pat McPherson, Al Pond of Pond & Co., Jim Pressley of Multi Media Services, Bill Smith of Little & Smith, Inc., Woody Snell of The Pacific Group, and David Swales of Province Properties, Inc. Also attending will be Mayor Bill Dunaway, Cobb Chamber President Bill Cooper, and Joe Kassler and other representatives from LEVEL5, a Cobb County-based financial facilities design-build general contractor which is overseeing the project.

First Landmark Bank opened in March 2008 with $21 million in capital and ended 2008 with over $51 million in assets. The bank’s temporary location is 48 Atlanta Street in Marietta, two blocks south of the Marietta Square. Bank president Ron Francis, a former chairman of the Georgia Bankers Association, has been in banking in Cobb County for over 35 years, and First Landmark Bank marks the third de novo bank in Cobb that he had led as president. In addition to Francis, the bank’s senior management consists of Executive VP/Chief Lending Officer Terri Bunten, Executive VP/Chief Financial Officer Terry DeWitt, Senior VP Leigh Pharr, and Senior VP Renee White, and they represent over 130 years of combined service in community banks, primarily in the Marietta/Cobb market. The bank is a member of the FDIC.

First Landmark Bank Adds Two Lenders

January 13, 2009 (Marietta, Ga.)- First Landmark Bank president Ron Francis announces the addition of Senior Vice President Vivian Battershill-Diaz and Vice President Jason Waters as commercial lenders and business development officers for the bank. In his announcement, Mr. Francis said, “First Landmark is fortunate to bring on board two well-respected, experienced lenders who have strong ties to the Marietta-Cobb community served by our bank. We are in the business to help local companies and individuals succeed, and Vivian and Jason share that philosophy.”

A graduate of Rollins College in Winter Park, Florida, Ms. Battershill-Diaz has been in banking for fourteen years at Bank of America and the former SouthTrust, Washington Mutual and Colonial Bank. She is experienced in commercial real estate lending and in general business loans, also called C&I Lending (Commercial and Industrial). Fluent in Spanish, Ms. Battershill-Diaz is active in the Georgia Hispanic Chamber of Commerce and the Hispanic American Center for Economic Development. Ms. Battershill-Diaz resides in Kennesaw.

Mr. Waters, who received his BBA in Finance from the University of Georgia, has been in the financial industry for ten years beginning as a credit analyst for the former First Union bank and more recently as a lender/business development officer with the Georgian Bank. His lending background includes C&I lending and real estate lending, and he also holds insurance licensing. Mr. Waters is active in the Cobb Chamber, the Rotary Club of Marietta and is President-elect of the Leadership Cobb Alumni Association. He resides in Marietta.

First Landmark Bank opened as a state-chartered de novo bank in March 2008 and is headquartered at 48 Atlanta Street in Marietta. During 2009 the bank’s permanent building (approx. 20,000 sq. ft.) will be under construction at the intersection of the North Marietta Parkway and Cole Street in Marietta. The bank offers traditional banking products and services, and additional on-line banking, cash management and remote deposit banking services.