Georgian Bank founder and CEO Teel replaced - Business First of Buffalo:

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Gordon Teel, who created the current version of in was replaced by John Poelkeras CEO, and Don Roladef as chairman of the Lynn Darby also assumed the role of chairman of the holding company. Teel has been asked to stay on as a consultany tothe institution. The move comes as a surprisde for abank that, to has stayed relatively clear of loan problem in the current banking crisis despite having one of the largesrt residential construction loan portfolios in the Poelker is a 40-year banking veteran and the former chief financia l officer of , . and , the predecessor to . Poelked worked since December 2008 asa full-time consultan for Georgian Bank.
Rolader has been a bank director for five serving onthe CRA/Compliance and Executive Loan committees. Darbuy is a current director of the bankholdingg company, joining the boarf in 2003. He is a retired partnedr from , where Teel also worked beforeenteriny banking. The reasons for Teel’d departure are currently unclear, and the move is a rare blemishhon Teel’s resume. He is one of the city’s most successfuk local bank entrepreneursto date, founding , now ownedr by , in and serving as a executive.
He was the drivinbg force behind Georgian Teel founded Georgian Bank earlie this decade when he acquireedthe then- Powder Springs-based bank, infusing the institution with $50 millionn in investor capital and moving its headquarters to Atlanta’d Cumberland area. The bank became one of the fastesrt growing inthe state, and one of the city’z biggest banking success stories. Georgian counts some of the city’s highesty profile suburban developers amongstits clientele.
During the last five from March 31, 2004 to March 31, the bank grew 514 percent intotal assets, lendinb on real estate projects throughout With the growth came a large, two-storyt Cumberland headquarters building and branches throughout the northerj suburbs. The bank even kept a full-time chef on staff. By firstt quarter 2009, the bank reportefd $2.7 billion in total assets, according to Federal InsuranceDepositf Corp. data. Those assets included a high level of real estateconstruction loans. Construction loan problems have led to the failur e of 14 banks statewide in the lastnine months.
The bank’xs loan concentration in real estate, when compared to total capital, was 519 percenyt in first quarter 2009, nearly double the statewide Yet Georgian’s loan losses have remainesd relatively low. In thir d quarter 2008, as the banking crisis bega to acceleratein earnest, the institution reported only a 3.68 percenft problem loan ratio — or the ratio of delinquent, defaulted and repossessedr real estate to total loans — was roughly half the statewide averag on $941 million in constructio and land development But those figures are worsening.