Signature Bank of Georgia is excited to announce a “Go and Grow Strategy” recently kicked off and headed by its new CEO, Charlie Brown.
Signature Bank of Georgia (OTCMKTS:SGBG)
SANDY SPRINGS, GA, UNITED STATES, February 13, 2023 /EINPresswire.com/ — Signature Bank of Georgia is excited to announce a “Go and Grow Strategy” recently kicked off and headed by its new CEO, Charlie Brown. While many banks are pulling back in fear of a recession, this campaign will allow Signature Bank of Georgia to grow significantly.
“I have found in our previous recession, an extremely high-capitalized bank can make a big difference compared to other banks, since it can continue to lend for real estate investment or to business owners looking to capitalize on price adjustments,” stated Brown. “As a small nimble local bank, not unlike our clients, we can run between the legs of elephants to find the opportunities that make sense,” Brown continued.
The bank is highly capitalized, and to remain at that level, it is planning to bring in an additional $4 million to $7 million in new capital to take an offensive stand, while many other banks are playing defense.
Charlie Brown joined the bank in November of 2022 as the new CEO, to head up the new “Go and Grow Strategy” through building the bank’s commercial lending team. Freddie Deutsch, the founding CEO, moved to the Executive Vice Chairman position, focusing on day-to-day operations.
The bank resides in the target rich environment of Atlanta, GA. As one of the few locally-owned and operated community banks in the Atlanta market, Signature Bank’s financial strength positions it to capitalize on opportunity in the market.
As the bank has gone from “surviving to thriving” after the great recession, it is in the unusual position of holding in excess of $20 million in net operating loss carry forwards that may shield the bank’s earnings from income taxes for several years. Adding to that beneficial tax structure, Mr. Brown stated, “The fact that the bank is profitable to the tune of over $2 million and has a running head start of $200 million in assets for FYE 2022, means the profitability, along with a high-quality loan portfolio and a significant staff expansion strategy, provides the bank with a unique opportunity.”
Signature Bank of Georgia was started in 2005 and is headquartered in Sandy Springs with a Loan Production Office in Suwannee.
No Offering or Solicitation
This release is neither an offer to sell nor a solicitation of an offer to buy any securities of Signature Bank of Georgia and the offering of shares of Signature Bank of Georgia’s common stock, $1.00 par value, may be made only by an Offering Memorandum. Signature Bank of Georgia, 6065 Roswell Road, Suite 600, Sandy Springs, Georgia 30328 is selling up to $7 million, or 7,777,778 shares, of its common stock at a purchase price of $0.90 on a “best-efforts” basis through its officers and directors. You may obtain a copy of the Offering Memorandum by written request to Charlie Brown at the foregoing address. The shares of common stock are neither insured nor approved by the FDIC.
Forward Looking Statements
Statements in this press release may not be based on historical facts and may be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by reference to future period(s) or using forward-looking terminology, such as “anticipate,” “estimate,” “expect,” “foresee,” “may,” “might,” “will,” “would,” “could” or “intend,” future or conditional verb tenses, and variations or negatives of such terms. Any forward-looking statement speaks only as of the date of this press release, and Signature Bank of Georgia does not undertake any obligation, and specifically declines any obligation, to revise or update these forward-looking statements, whether as a result of new information, future developments or otherwise.
Signature Bank of Georgia
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