In Brief: Atlanta Internet Bank Has Strong Month

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.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER