As everyone has seen, the past few years have been extremely difficult for the banking industry.  Big and small alike have all had their share of problems.  As the list of problem banks continues to swell, and as it seems every Friday brings the announcement of another bank closure, a community bank based in Albany, Georgia is bucking that trend.

AB&T National Bank recently announced that the formal agreement with the Office of the Comptroller of the Currency, under which the bank has been operating since June 2006, has been terminated.  The termination of this agreement releases the bank from the scrutiny of the regulators and in the current business environment represents the exception, rather than the rule. The termination means several things to the bank and its customers:

- This action indicates that policies, activities and actions of AB&T represent safe and sound bank operations.

- After more than four years of intense regulatory oversight, the health of the bank has improved to the point that the bank can once again operate without special regulatory oversight.

- Even though these are difficult economic times for business in general, and especially for banks, AB&T has demonstrated the discipline and skill necessary to reverse its direction, build capital, improve loan quality and put into place a business strategy that can produce positive results.

Luke Flatt, president and CEO, said “this significant accomplishment was made possible by the commitment of very dedicated staff and board of directors, loyal customers and, to a large extent, local investors who stepped forward and demonstrated their belief that Albany needs and deserves a true ‘community bank.’”

The Chairman of the Board, David Campbell commented that “we are very proud that AB&T did not accept a single penny of TARP money.  Our recapitalization occurred because local investors truly believe that AB&T is not an ordinary bank, but rather an extraordinary bank and that because of our commitment to community and exceptional customer service, this bank will succeed.”

“It is a new day at AB&T,” stated Luke Flatt. “We continue to assemble a team of the best in the business in order to delight our customers and please our shareholders and we are looking toward the future with enthusiasm and confidence. I am very proud of all our associates who have persevered and who have continually demonstrated their commitment to the realization of our vision of becoming the gold standard of community banking.”

AB&T National Bank opened its doors in 1999 as Albany Bank & Trust, focused on providing customers with local decision-making and exceptional quality service. It is a member of the FDIC and is an Equal Housing Lender. For more information, visit www.abtgold.com.

For more information, you can read the article in the Atlanta Journal Constitution