First Georgia Bank closing Commerce office

Posted by
Mark Beardsley
in Area Headline News, Top Stories
Friday, January 21. 2011
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First Georgia Bank will close its Commerce office, located on South Elm Street, the company announced last week. The projected date — which is subject to change — is April 15.

It is also closing an office in Villa Rica as part of what it calls “an internal reorganization designed to improve operating efficiencies by reducing expenses.”

First Georgia is under a state consent order to increase board of directors’ participation, reduce bad loans and raise investor cash.

Jackie Whitfield, who manages the branch, will be relocated to the company’s Homer office.

A spokesman for First Georgia declined to provide any further information — including how many local employees will lose their jobs.

“It is my understanding that we are not commenting beyond the press release other than that Jackie is moving to the Homer office,” said Teresa Martin, executive vice president and chief financial officer.

The company’s news release indicated that customer accounts from the Commerce office will be automatically transferred to another office of the bank. Letters to affected customers will be mailed out in the near future, the release added.

The company also has an office in Jefferson.
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