Colony Bank Partners With Local Businesses to Help Them Plan for the Future
Monday, October 8th, 2012
“Colony Bank is a 1.15 billion dollar bank”, says Phillip Franklin, Albany’s Market President. He says the bank is over a century old and currently in growth mode. “Colony Bank added $12.7 million in new in the last 2 months. In the first six months of 2012 we have earned 1.8 million in profit. Our liquidity is 9.69%, which is above the FDIC required limit of 8%. Colony is a preferred SBA Lender.”
Franklin believes Colony’s timely response to the banking crisis made a difference in the bank’s condition. “We are stable. We addressed difficulties early on and our strong liquidity brought us through these problem times in the Banking industry.”
Another key to Colony’s strength is the relationship they have developed with their customers. “We know the majority of our customers by name, we know their background, their children and their grandchildren. We develop an understanding of their business and the services necessary to help them grow.”
Franklin believes this knowledge gives Colony the ability to make good loan decisions based on relationship and first-hand experience, instead of relying exclusively on information listed on a form.
Colony’s customers benefit from the personal relationship too. Franklin says people like to know they have a strong and stable bank. “They may not need assistance now, but it is good to know their bank will be around to meet their future needs. “
Franklin believes Albany businesses view Colony as a partner. “When they apply for a loan, we review their financials and look for trends and make financial recommendations that can help them plan and grow.”
Relatively new to Colony, Franklin joined the bank in 2011, but he has worked in the industry since 1972. “I am fortunate to have lived and worked in Albany all of those years.”
The emphasis on relationships begins inside the bank with the employees who work together. Franklin says they often begin work with a devotional. “It starts the day on a positive note.” He says employees try to practice the “Golden Rule” as they work with our customers. This emphasis on compassion creates a climate that puts us in touch with the needs of people in our community.”
Headquartered in Fitzgerald Georgia the bank has grown to 295 employees at 29 offices reaching from Columbus to Valdosta. The three Albany branches are located on Philema Road, Ledo Road and Robert B Lee Drive in Leesburg.
Colony’s new CEO is Edward Loomis, who comes to the bank with over thirty years of banking experience. Mr. Loomis most recently served as President and CEO of Atlantic Southern Bank in Macon, Georgia from 2008 through 2011.