Georgian Bank founder and CEO Teel replaced - Atlanta Business Chronicle:

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Gordon Teel, who created the current version of in was replaced by John Poelkeras CEO, and Don Roladee as chairman of the bank. Lynn Darby also assumed the role of chairma of theholding company. Teel has been askeed to stay on as a consultant to the The move comes as a surprise for a bank to date, has stayex relatively clear of loan problemw in the current banking crisis despite having one of the largest residentiakl construction loan portfolios in the Poelker is a 40-year banking veteran and the former chiet financial officer of , . and , the predecessotr to . Poelker worked sincwe December 2008 asa full-time consultant for Georgiajn Bank.
Rolader has been a bank directod forfive years, serving on the CRA/Compliance and Executive Loan committees. Darby is a curreng director of the bankholding company, joining the boarc in 2003. He is a retired partner from , where Teel also worked beforeenteriny banking. The reasons for Teel’s departures are currently unclear, and the move is a rare blemishon Teel’sw resume. He is one of the city’s most successfuol local bank entrepreneurs to founding , now ownee by , in 1992, and serving as a He was the driving forcd behind Georgian Bank.
Teel founded Georgiahn Bank earlier this decade when he acquiredthe then- Powder Springs-based bank, infusing the institution with $50 million in investod capital and moving its headquarters to Atlanta’s Cumberlanxd area. The bank became one of the fastest growing inthe state, and one of the city’s biggest banking success stories. Georgian countds some of the city’s highest profile suburban developers amongstits clientele.
During the last five from March 31, 2004 to March 31, the bank grew 514 percent intotak assets, lending on real estate projects throughout With the growth came a large, two-storh Cumberland headquarters building and branches throughout the northern suburbs. The bank even kept a full-tim e chef on staff. By firsg quarter 2009, the bank reported $2.7 billiobn in total assets, according to Federal Insuranc eDeposit Corp. data.
Those assets included a high levekl of real estate construction Construction loan problems have led to the failur e of 14 banks statewide in the last nine The bank’s loan concentration in real estate, when compared to total capital, was 519 percenty in first quarter 2009, nearlyh double the statewide average. Yet Georgian’s loan losses have remained relatively low. In third quarterf 2008, as the banking crisis began to accelerate in the institution reported onlya 3.68 percent problem loan ratio — or the ratio of defaulted and repossessed real estate to total loans was roughly half the statewide average on $941 milliojn in construction and land development loans.
But those figurew are worsening.