Ga. Bank Analyzes Statistics to Map Growth, Sales

By Bills, Steve | American Banker, February 27, 2007 | Go to article overview

Ga. Bank Analyzes Statistics to Map Growth, Sales


Bills, Steve, American Banker


Security Bank Corp. of Macon, Ga., says it is using statistical analysis to drive its acquisition and branch-building plans and intends to apply the technology to its marketing efforts as well.

James R. McLemore, an executive vice president and the chief financial officer, said the $2.5 billion-asset banking company has bought three Atlanta banks in the past 18 months and more than doubled its asset size in three years as it expanded into coastal Georgia.

When the company began an expansion effort in 2003, Mr. McLemore said, it wanted to use a disciplined approach to determine "the most attractive markets in Georgia that we might want to expand into."

Security turned to the online advisory group BancIntelligence.com Inc. in Atlanta, which offers analytical services called BancAnalyst Financial and BancAnalyst Market over the Internet.

The services let Security look "at a different cut of the call report data" that is available from all financial institutions, Mr. McLemore said. They also let the company analyze the demographics of the communities around those banks.

"In Atlanta there's a lot more publicly available data" because of the work of the Atlanta Regional Commission and other economic development groups, he said, but the analysis tool was "more effective in places like the coast of Georgia or the second-tier cities," where detailed data was less available, he said.

Richard Collinsworth, Security's chief operating officer and executive credit officer, said that the company now wants to focus on organic growth in its new markets, especially Atlanta, where the banks it bought had just one branch. "We're going to need to expand those franchises with branching as quickly as possible," he said. …

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