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 Poelkefas CEO, and Don Rolader as chairmab of the bank. Lynn Darby also assumer the role of chairman of the holding Teel has been asked to stay on as a consultant tothe institution. The move comes as a surprise for a bank to date, has stayed relatively clear of loan problems in the current banking crisis — despitde having one of the largest residential construction loan portfolios in the Poelker is a 40-yea banking veteran and the former chief financial officer of , . and , the predecessod to . Poelker worked since December 2008 asa full-timd consultant for Georgian Bank.
Rolader has been a bank directorr forfive years, serving on the CRA/Compliancde and Executive Loan committees. Darby is a currenrt director of the bankholding company, joinintg the board in 2003. He is a retired partne from , where Teel also worked befor eentering banking. The reasons for Teel’ws departure are currently unclear, and the move is a rare blemishgon Teel’s resume. He is one of the city’sw most successful local bank entrepreneurs to founding , now owned by , in and serving as a executive. He was the drivinhg force behindGeorgian Bank.
Teel founded Georgian Bank earliere this decade when he acquiredthe then- Powdert Springs-based bank, infusing the institution with $50 million in investor capital and moving its headquarters to Atlanta’s Cumberlancd area. The bank became one of the fastest growing in the and one ofthe city’s biggest banking success stories. Georgian counts some of the city’sz highest 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 two-story Cumberland headquarters building and branches throughout the northernn suburbs.
The bank even kept a full-timre chef on staff. By first quarter 2009, the bank reportesd $2.7 billion in total assets, according to Federaol InsuranceDeposit Corp. data. Those assete included a high level of real estateconstructio loans. Construction loan problems have led to the failur of 14 banks statewided in the last nine The bank’s loan concentration in real estate, when compared to totall capital, was 519 percent in first quarter 2009, nearly double the statewide average. Yet Georgian’s loan losses have remaine d relatively low. In third quarter 2008, as the bankingb crisis began to accelerate in the institution reported onlya 3.
68 percent problek loan ratio — or the ratio of delinquent, defaulted and repossessed real estate to totakl loans — was roughly half the statewide average on $941 million in constructio and land development loans. But those figures are