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The Private Bank of Decatur Wants To Lease A Spot in The Middle of Town

The bank has signed a letter of intent for One Decatur Town Square.

 

Decatur's newest banking operation plans to move into office space in the middle of downtown.

The Private Bank of Decatur President Judy Turner said Saturday that the bank has signed a letter of intent to rent ground floor space at One Decatur Town Square, a building at 150 E. Ponce de Leon Ave.

The bank offices will face restaurant on one side and East Ponce de Leon Avenue on the other, she said. The bank only needs regulatory approval before signing the lease.

She said the space is attractive because it formerly housed C&S Bank and NationsBank and already has a vault, which is one of the most expensive features of starting a bank.

She's hopeful the branch will open by April.

"I think it will be pretty easy to remodel," she said.

The spot has about 5,000 square feet, which should allow the Private Bank of Decatur to hire ten to 12 people. The bank will actually be a branch of the the Private Bank of Buckhead.

"We'll definitely be hiring people," she said. "We'll be creating jobs in downtown Decatur."

Turner is familiar with the office space, having worked there when she was employed with C&S Bank.

The Private Bank of Decatur was created . Turner was the top executive for Decatur First and has worked in banking in Decatur for decades.

, which appointed the Federal Deposit Insurance Corporation as receiver.

To protect the depositors, the FDIC entered into a purchase and assumption agreement with Fidelity Bank to assume all of the deposits of Decatur First Bank.

Fidelity Bank Chairman James B. Miller told Patch

Jim Baskett January 15, 2012 at 12:14 PM
I have already opened new accounts with Ms. Turner and anxiously await the opening. In the meantime I love making deposits using my iPhone. Jim Baskett.
taxus January 15, 2012 at 05:59 PM
I find it ironic that DFB - formerly THE community bank of Decatur - was lending the deposits of liberal Democrats to borrowers for homes in the development of one of the biggest GOP fundraisers in the country. And the skipper of that sunken ship is back at the helm with all the blessings of the FDIC and Mr Baskett.

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