Academic journal article ABA Banking Journal

Tri-State Market and Cost Control Build Success

Academic journal article ABA Banking Journal

Tri-State Market and Cost Control Build Success

Article excerpt

Bank of Dade

S Corp bank under $100 million

Interstate 59, built to connect Chattanooga, Tenn., to Slidell, La., passes through the very northwest corner of Georgia for the duration of three exits.

In its own way, Bank of Dade, in Trenton, Ga., is also a connector. The $88.2 million-assets bank does business in Alabama, Georgia, and Tennessee, and is in a bedroom community for Chattanooga.

"We deal in all three states, and the laws are different in each state," says Mike Tate, president. While keeping up with three states' rules is a challenge, it's generally not been a compliance weakness, Tate adds.

Georgia banks generally have taken a PR drubbing this year and last, damned by association with the significant troubles, especially involving some de novos, out of the Atlanta region. But Georgia is much more than Atlanta. Bank of Dade placed third by ROE (36.84%) in its category, up from fifth in the 2007 rankings. (The bank has done well in past rankings, too, though these are not directly comparable, due to differences in past treatment of S-corp banks.)

Tate attributes the bank's success to getting many basics right. Two outstanding factors are: expertise due to staff longevity and cost control. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.