Atlanta Internet Bank said it operated in the black in April. D.R. Grimes, chief executive officer of Net.Bank, the holding company of Atlanta Internet Bank, credited a nationwide marketing campaign and wider acceptance of the Internet as reasons for the bank's success.
The bank's account base grew 18% in April, and deposits increased 19%, to $153 million. "We have reached a milestone with the necessary deposit size to cover our low overhead structure," said Mr. Grimes.