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ATNA NEWS January, 1982 President's Corner Increased Visibility Future Wave of ANB [[image]] [[caption]] Charles M Reynolds, Jr. [[/caption]] Increased visibility and a more streamlined operation have led to Atlantic National Bank's better look in 1982. The bank has become more aggressive in its advertising and as a result its profits should be up this year, said President Charles Reynolds, "The Market for this bank and for all small banks in the 1980's and 90's has to be service oriented with a highly personalized approach," said Reynolds. "Each institution will have to find its own niche in the community," he added. Reynolds said ANB has already streamlined its operations and is now planning to make itself appealing to a segment of the community much in the same way that Heritage Bank and Trust has done in the maritime community. "We are going to make some bold steps, but at the same time the research and planning will be there to back up the move that we will make. We plan to continue to serve our constituents, but we have to enlarge our scope if we hope to compete at the level of our potential." With a staff of 23 plus 6 officers ANB currently operations two locations. At the end of last year assets stood at $12 million while deposits were $10.2 million. Today there are over 5,000 accounts and through Auguts the Bank had made close to $60,000.00 in profits on income of $1.1 million. "New deposits in August, 1981 totaled $177,000.00 as opposed to $32,000.00 in August, 1980," said Reynolds. "The Bank was profitable in 1976 and showed profits in 1977 and 1978. However, the downturn in the economy in 1979 and '80 hurt us as much as it hurt the rest." But Reynolds points with pride to the contributions of the Bank. "We have put ta least 50 business in operation, many of whom would not be in business today were it not for us." According to statistics those firms hire about 2,500 employees, said Reynolds. Eighty percent of ANB's customer are black and 60 percent of the money it has loaned went to minority firms. In addition to the loans the Bank now has, it has joined with 43 other minority-owned banks to form a consortium. The consortium extends multi-million dollar lines of credit to some of the top firms in this country. They include such companies as Montgomery Ward, Levi Straus, and Philip Morris, Inc. "We are now ready to take in the things this Bank was conceived for. I see the Bank being received by the community, and, hopefully, evolving into the capitalist system as just another bank -- without any racial identification." BANK NOTES The Randolph Blains are proud parents of a son, Jason Randolph Harrison Blain, born on July 18th, 1981. Randolph "Ranny" Blain is ANB's Vice President and Cashier ... Congratulations! Beth Causing, Personal Banker at the Campostella Branch, left to join her husband who is stationed in California ... we will miss her. ANB served as an outlet for collection of canned goods to be distributed by the Christian Action Organization during the season of sharing. [[box]] ANB OFFERS INDIVIDUAL RETIREMENT ACCOUNTS Don't Send Your $$$$ To The IRS Send Them To Your IRA Every wage earner can now have an Individual Retirement Account. Don't miss this opportunity to save both money AND taxes. come in and see us early for all the details about opening your IRA with us. There's no time like the present to think about the future ... and how an IRA can change yours! [/box]] Employee of the year [[image - Mrs. Elizabeth Causing]] Mrs. Elizabeth C. Causing, personal bank (Teller), Campostella Branch, was elected employee of the year. Each year the Board of Directors and Officers of the Bank present a trophy to an employee who is elected bo secret ballot of all employees. Mrs. Causing, or "Beth" as she is affectionately called, is shown as she received a trophy from bank President Charles M. Reynolds, Jr. She won the honor based on criteria that included personality, attitude, cooperativeness, integrity and attire. A native of the Philippines, she is a graduate of the Far Eastern University, Manila, Philippines. She is the wife of Tommy Causing, U.S. Navy, stationed in California. Beth will join her husband the first of the year. [[box] ANB OFFERS ALL-SAVERS CERTIFICATES Minimum Deposit $350 Earn Up to $2,000 in Tax Free Interest Interest Rate Equals 70% of the average yield for 52-week U.S. Treasury Bills. Certificates will be issued for a one year term. Interest paid quarterly. ALL-SAVERS CERTIFICATES MAY BE FOR YOU CALL US AND ASK ABOUT THEM [/box]] 260
