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Atlantic Capital Bank's eNewsletter 4th Quarter, 2012
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Georgia US Attorney speaks to business leaders at Atlantic Capital
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On November 13, Sally Quillian Yates, US Attorney for the Northern District of Georgia, spoke to a group of business leaders at Atlantic Capital Bank's Business Leaders' Breakfast. In her compelling remarks, Ms. Yates addressed some of the challenges faced by Atlanta and the state of Georgia due to geographic location and Atlanta's status as a transportation and business hub. Ms. Yates and her team are working diligently on the federal level to prosecute federal crimes and litigate civil matters in the district.
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Follow us on Linkedin and Twitter
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For up-to-date news and the latest Knowledge Center articles, follow us: Twitter: @atlcapbank
Linkedin Company Page: linkedin.com/company/atlantic-capital-bank
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Logistics-Related Business Opportunities in Georgia
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On October 17, Page Siplon, Executive Director of the Georgia Center of Innovation for Logistics, spoke to guests of Atlantic Capital about the growing role of supply chain logistics in Georgia. The rise in e-commerce and mobile technology is fueling complexity and opportunity in logistics-related business, including: an increasing need for fulfillment operations and regionalized distribution hubs, continued growth in outsourcing logistics operations to Third Party Logistics Providers, and an increased demand and frequency for small package delivery.
To learn more, please visit www.georgialogistics.com.
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New Team Members
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Atlantic Capital Bank is pleased to welcome two new banking team members:
Jennifer Hall SVP, Corporate Banking 404.995.5816
Margaret (Meg) Beveridge VP, Commercial Real Estate 404.995.5830
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Travel Reminder
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If you plan to use your debit card when traveling out of the country, please contact the Banking Center (404.995.5846) before you leave to assist us in providing you with uninterrupted service.
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Catch us on WSB
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Atlantic Capital Bank sponsors the Closing Bell report on WSB radio (95.5FM and AM750). Listen at 6pm weeknights to hear a message from Doug Williams and other members of the Atlantic Capital team.
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Holiday Greetings from Atlantic Capital Bank
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| Douglas Williams, President and CEO of Atlantic Capital Bank |
Season's Greetings and Happy New Year to you and your family from all of us at Atlantic Capital Bank! I hope you are enjoying the holiday season and are able to experience joy and peace in this merry but busy time.
As I reflect on the past year, I want to thank you, our clients and friends, for making 2012 a year of growth and success for Atlantic Capital Bank. With your support, we have experienced solid expansion in all three of our business lines and have cultivated relationships with over 500 commercial clients and over 500 private client households. As always, our talented team of bankers continues to work hard for you. We sincerely appreciate your partnership and look forward to being a part of your financial success in 2013.
Sincerely, Doug Williams, President and Chief Executive Officer
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Economic and Business Outlook, December 2013
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The headlines and airwaves are filled with predictions of dire consequences of failure to avoid the fiscal cliff. Most economic forecasters assume a quarter or two of GDP contraction, persistently high joblessness, and a financial market crisis. Political commentators fear calamitous mid-term election damage to one party or another. The more hopeful expectation is that calmer heads will prevail, and that after a bit of political theater played on the precipice of the cliff, an acceptable compromise will be developed to free the economy to a more orderly, if not robust, expansion.
Winston Churchill famously said, "You can always count on Americans to do the right thing - after they've tried everything else." It seems to me that we've tried everything else, and that the process will now yield a workable solution. I believe we will avoid the crisis, but the resulting economic environment will be uninspiring.
High levels of public debt here and abroad will limit the ability of governments to intervene in the economy to stimulate demand. Central banks will be compelled to keep interest rates artificially low to protect weak borrowers, particularly governments, and accommodative monetary policies will be ineffective in stimulating growth. The economy is likely to grow at a pace well below the historic trend of 3%+. Unemployment and underemployment levels will improve gradually, but will remain well above historic averages. Higher tax rates will make it harder to accumulate wealth and build capital.
After three years of weak recovery, we should expect another two to three of the same. The artificial limitations imposed on the economy by governments and central banks will prolong and subdue the necessary process of correcting the excesses of the past.
Breakout performance in business and financial markets will come to those who develop innovative products and services, creative business models, and targeted investment strategies. In an era of more of the same, ingenuity will win.
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Client Spotlight: PaperStyle.com
A Rapidly Growing Online Stationery Company
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Celebrate your Life
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In the offices of PaperStyle.com, the presses are buzzing with holiday photo cards and party invitations. "We just had the biggest sales day in our history on Cyber Monday," said David Grocer, SVP at paperstyle.com.
Located in Alpharetta, PaperStyle.com designs, prints, and sells custom invitations, announcements and cards. "Our customer service and high quality products really set us apart from other online stationery providers," said Grocer. "People come to us for the beautiful card and invitation designs, and they become customers for life once they experience our unique level of customer service. Along with great service, we offer a 100% satisfaction guarantee and same-day printing and shipping. The combination is hard to beat."
"We consider ourselves an established start-up," said Grocer. "Our company has been successful for a dozen years - we've been profitable and stable - but last year the owners decided to kick things up a notch. We took on the mentality of a new company and have been working hard to accelerate growth and expand. Atlantic Capital Bank was able to help us access the capital we needed to make some exciting improvements to the company through an SBA (Small Business Administration) loan. We've upgraded our capabilities, invested in infrastructure, hired new talent, and beefed up our marketing. Our goal was to hit 33% growth for the year, and I'm happy to say that we're at 40% growth and the year isn't over yet.
"Our banking team at Atlantic Capital, including our banker Brian Harper, worked hard throughout the loan process for us. They were responsive, supportive, and helped us navigate through the government requirements. We especially appreciated the "can-do" attitude of the team, the personal communication, and the overall sense that we are an important client. We're glad to work with a bank that understands and supports our company."
For more stories from satisfied Atlantic Capital clients, visit www.atlcapbank.com/clientstories.
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'Tis the Season for Debit Card Fraud: Is Your Money At Risk?
By Norbert VonLotten, Vice of President of Private Banking
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| Norbert Von Lotten, VP, Private Banking |
As you make purchases around the holidays, use these 10 common sense tips to prevent debit card fraud:
1. Guard your pin number closely. Don't tell your pin number to anyone, and never keep a copy of it written down in your wallet. 2. When making purchases online, only purchase from major sites that are reputable and have a verifiable security certificate. Look for sites beginning with https://. 3. It's a good practice to keep your debit card within your sight at all times. Fraudulent card data collection may be more likely to occur when someone (a salesperson or waiter, for example) takes your card out of sight for an extended period of time.
4. Learn to recognize a skimming device, a small electronic device that can be added to card readers to illegally collect your card information. Skimming devices are often added to ATMs and gas pumps. 5. Only visit ATMs that are in good condition and in a good location. Thieves prefer to add skimming devices to machines that are older, out of the way, or in poorly lit areas. 6. Don't type in your PIN at the pump; process your transaction as a credit. Gas pumps are notorious for debit fraud because skimming devices can be placed inside the pump card reader where they can't be seen. Thieves can create counterfeit ATM cards by stealing your card number and PIN at the pump. 7. If your debit card is lost or stolen, call your bank immediately to report the loss. 8. Monitor your checking account daily via online banking. 9. Go paperless. Receiving statements electronically instead of by mail eliminates the risk of having your bank account information stolen from your mail box. 10. Make sure your contact information is current with your bank. The sooner the bank can contact you about an issue, the sooner they can stop any unauthorized transactions. For more information about protecting yourself from debit card fraud, please contact Norbert Von Lotten, Vice President of Private Banking at Atlantic Capital Bank: 404.995.5848 or [email protected].
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The Recession-Proof Business Primer: How to thrive in any economy based on lessons learned during the Great Recession
By Chris Deisley, Senior Vice of President of Corporate Banking
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| Chris Deisley, SVP, Corporate Banking |
There have been few times in our history that have challenged business owners more than the economic uncertainty which prevailed in the latter half of 2008 and into 2009. These were arguably the worst years for the economy since the Great Depression. Banks folded, companies closed, and many jobs disappeared. While the economy in 2012 is not back to its former strength, it has improved enough to consider companies that are still solvent to have "made it" through the storm. What actions allowed some companies to make it through these hard times while others failed? And how should these success stories impact businesses as they continue to operate in an uncertain economy? For answers, I turned to the advice of several of my clients, who through dedication, determination, and tough choices, have managed to successfully lead their companies through the recession: 1. Do not overleverage. Borrowers who levered up prior to 2008 faced much greater stress when economic uncertainty set in. This resulted in more limited options in the downturn and, in some cases, resulted in the distressed sale or liquidation of the business. In order to keep your business on track, seek the opinion of your banker and other professional advisors to determine an appropriate leverage profile for your business. 2. Focus on working capital. It is critical to focus on managing the working capital of your business. The key is to stay on top of receivables and focus on doing business with customers who have access to liquidity to pay their obligations. Make sure that these customers are not stretching you to create more liquidity for themselves. Proper management of accounts receivable will ensure that you are able to meet your obligations on a timely basis and enable you to benefit from discounts where available. It will also lead to the reduction and ultimate elimination of any loan balances under a working capital line of credit if revenues decline due to a weak economic environment. 3. Manage overhead. The most difficult part of keeping your company on track is managing the overhead of your business relative to the current revenue base. If you hit a downward revenue trend, review your numbers and try to determine if it is a temporary trend, or if the decrease in revenue is something that your business will have to deal with for the near term. If you anticipate a continued period of falling revenue, cuts to staff may be necessary. If the decrease in revenue is dramatic enough, even core employees may need to have their hours and pay cut back to survive the difficult period. Cuts in pay should be across the board to avoid jeopardizing morale. This is painful for all involved, but if it is necessary for the business to survive, everyone should benefit in the end. When things do improve, it is important that salaries are re-adjusted in order to compensate employees for their commitment to your business. 4. Focus on efficiency. During periods of unprecedented growth, it is not uncommon for even the most well-run businesses to become inefficient. Any time is a good time to keep an eye on efficiency, but it's especially important when economic uncertainty sets in and your revenues trend down. If this happens, take a close look at your cost structure and take action where necessary. 5. Communicate with your business partners. Finally, it is imperative that business owners keep an open dialogue with their critical business partners, including accountants, key clients, vendors, and your banker. It's best to be open with your partners about your financial status so that they can help you to manage, especially in a difficult environment. Take the time to let them know what you are doing to keep your business viable for the long term. Even in the best economy, it's not easy to run a business. However, if you follow the steps outlined above and seek guidance from your banker and other financial partners, you can make it through any difficult period and come out with a much more efficiently run business. To learn more about how Atlantic Capital Bank can help your business, please contact me, Chris Deisley, at 404.995.6029 or [email protected].
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www.atlanticcapitalbank.com
Member FDIC, Equal Housing Lender
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