Private Bank of Buckhead annual meeting: Continued profitable growth

At its annual meeting April 19, shareholders of Private Bancshares, the parent company of Private Bank of Buckhead, heard from President, CEO and Chairman Charlie Crawford, who began by noting that the bank continues to grow, with some significant markers to demonstrate progress.

“Our strategic objectives are consistent,” Crawford says. “We tweak them as needed, but the conservative, balanced approach continues to be a solid foundation on which to continue profitable growth. At about this time last year I stood here and told you it had been our most profitable year and am pleased to be able to tell you we bested that during the past year.”

He sang the praises of the Private Bank of Buckhead team, which has grown by eight employees. “Our clients are with us because of our people,” Crawford says, “and I am proud that we continue to add seasoned team members who are empowered decision makers serving as true banking partners for our clients.”

By the numbers, he noted that Private Bank of Buckhead continues to outpace the 66 other banks in Metro Atlanta with, for instance, a return on assets of 1.23%, return on equity of 13.22%, net interest margin of 4.47%, and an efficiency ratio of 64.81%. Crawford also pointed out the bank’s increasing market share, saying, “while we’re a relatively small player, we have grown to a 3.54% market share.”

Among the successes of Private Bank of Buckhead in the past year, Crawford noted:

• A dividend of $0.61/share;
• Loan and deposit growth of 16% and 14%, respectively;
• The first anniversary of the bank’s profitable Private Mortgage Services unit;
• The fifth anniversary of the bank itself;
• The launch of PB Mobile Deposit, the bank’s smartphone app;
• Year-end assets (2011) of $177 million – and $199 million as of the April 19 meeting;
• Continued growth of the bank’s Preferred Lender SBA program;
• 75% growth (over one year) of the bank’s Remote Deposit Capture footprint;
• And more.

The annual meeting also saw the re-election of four founding board members – Adolph Casal, Charlie Crawford, Bryan Freeman and Jim Givan – to new three-year terms. Casal is Medical Director of Psychiatry at Children's Healthcare of Atlanta; Crawford is President, CEO and Chairman of Private Bank of Buckhead; Freeman is Founder and President of Habersham Funding, LLC; and Givan retired as President and CEO of Design Build Concepts.

Other members of the board are Joel Arogeti, Managing Partner of law firm Kitchens Kelley Gaynes, PC; Marvin Banks, President of Cortland Partners; Ron Beerman, Founder of Profitmaster Displays, Inc.; Rick Huddleston, General Manager of Aegis Global; Donny Jackson, retired President, COO and Director of InterCept, Inc.; Jill Jinks, President and CEO of Insurance House; Jeff Lemming, Sector Leader with The Caldwell Partners; and John Lewis, Jr., Senior Managing Compliance Counsel, The Coca-Cola Company.

Crawford closed the meeting by reviewing strategic priorities for the coming year. The only question from the floor was actually a comment: A client of Crawford’s for 20+ years thanked him for his professionalism and sound leadership over the years.

Private Bank of Buckhead brings a private banking approach to all clients across all functions of the bank. The bank is designated a Preferred Lender by the U.S. Small Business Administration, and includes a dedicated mortgage solutions unit, Private Mortgage Services. Private Bank of Buckhead, including its mortgage unit, is located in Piedmont Center (Building Three).