July 16, 2013
Midtown Bank Newsletter

Greetings!

 

"The economy is improving!" 

 

This is the general sentiment amongst not only consumers, but also Small Business owners.  There are multiple signals in the economy which indicate this is true.  The recently released jobs report states, U.S. employers' added 195,000 jobs in June, in addition to the many more in April and May. The unemployment rate remained at 7.6 percent. This is due to more people looking for work in June.  Signs of an improving economy are evidenced by an increase in commercial property transactions, as well as construction activity, which was almost non-existent not so long ago.  Construction activity is even taking place in the residential sector, once dormant in many markets.  Financing for such projects is now more readily available as lenders also believe the economy has turned the corner.

 

Midtown Bank is experiencing a significant increase in loan demand as SBA loans remain a viable option for Small Business' seeking long term financing.   With over 30 years of combined SBA experience, we are able to streamline the loan process by gathering information and coordinating with other parties to keep you focused on business rather than on loan applications. Our staff can provide the guidance needed throughout the loan process. Give us a call today. 

Meet Our New Addition
Chris Burnett, Market President of Sandy Springs
  

 

Chris BurnettChris, an Atlanta native, has spent 33 years as a community banker in the metro area. He has previously served as CEO for three community banks including Eastside Bank & Trust, Horizon Bank, and most recently, Cornerstone Bank.

 

Chris joined Midtown Bank to lead our expansion into the Sandy Springs market. He will serve as the Market President of ournew division - Bank of Sandy Springs.   He currently serves on the Board of the Sandy Springs Perimeter Chamber of Commerce and the city's Economic Development Advisory Board; he is also on the Board of Trustees for the Holy Innocents Episcopal School and its church Finance Committee. You can reach Chris at cburnett@midtownbank.com or at (404) 693-9473.

Ask the President - Basel III Update

 

Stan 2011On July 2, 2013, the Federal Reserve Board finalized its rule implementing the Basel III regulatory framework and related Dodd-Frank Act changes. The rule reflects, in several important ways, the significant input from thousands of banks and state bankers associations, with important improvements from the original proposal.
 

"The results are a testament to the power of many banks providing specific analysis about how proposed rules can affect the availability of credit and the strength of their institutions," said R. Stanley Kryder, President & CEO. "While not a perfect set of rules, we are pleased that the Federal Reserve listened to our concerns and acted on them. When we visited with the Fed, OCC and FDIC in May, their officials all signaled they were working toward simplifying the final Basel III rules for community banks while instituting a stronger capital regime."

 

To review more of Midtown Bank's requests for Basel III, please see our letter on our website.

 

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Issue: 30
Midtown Bank - Your Life. Your Style. Your Bank

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Postponed Fireworks

 

  

Were your 4th of July festivities rained out? Delayed? Cancelled? Or maybe you just want to see another round? Click Here for a complete list from the Atlanta Journal Constitution to see where and when fireworks have been rescheduled.

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