www.ReporterNewspapers.netl JAN. 25 —FEB. 7, 2013 | 11
PERIMETER BUSINESS
Q & A on community banking: ‘We must pick our niches and do them well'
Reporter Newspapers asked local banker Chris Bur
nett a few questions about how he sees the future of
community banks. Here are his answers.
Q At a time banks seem to be growing big
ger and spreading their branches across
the region and country, what is the role of the
smaller community bank? How do you compete
with the big banks?
/\ In large markets like metro Atlanta, commu-
'* nity banks find it difficult to compete with
the mega-banks on pricing and locations. Commu
nity banks must be specialists in specific niche mar
kets and must provide a level of professional, per
sonal service that is far superior to the big banks.
Examples of niche markets include small busi
ness lending services like SBA-guaranteed loans
and working capital, and asset-based lending ser
vices. Other niches can include wealth manage
ment, trust and mortgage services.
On the deposit side, new technology like re
mote capture deposit machines (RDCs) allow
smaller banks to compete with the big banks be
cause we can now install machines at our clients'
offices that enable them to make deposits right at
their desks, eliminating the need to physically go
to a branch to transact business. This saves our
clients time and money, and places us on a more
level playing field with the big banks that have
Chris H. Burnett is the chief executive
officer of Cornerstone Bank. He has more
than 25 years of experience in community
banking, has held leadership positions
in several community banks, and has
served as chairman of the Sandy Springs/
Perimeter Chamber of Commerce.
large branch networks.
Q What do you see as the primary market
for community banks?
/\ In smaller towns throughout Georgia and
'* the nation, local banks will continue to be
vital members of their communities because
many of the big banks do not want to operate
branches in smaller communities because these
branches do not offer the profit opportunities that
the big cities offer.
The shareholders and employees of community
banks typically live and work right in their own
towns. They are the business and civic leaders in
their communities and they have a personal, vest
ed interest in seeing their towns succeed.
But in bigger markets like metro Atlanta, it is
difficult for community banks to be all things to
all people. So, we must pick our niches and do
them extremely well.
Q How do you see the Perimeter business/
financial market today and over the next
few years?
/\ I am very optimistic about the long-term
'* health of the Perimeter business market,
which I believe is the epicenter of business for the At
lanta region. With over 30-million-square-feet of of
fice space, we are home to a number of national com
panies, and we must continue our pursuit of
professional office users to fill our available buildings.
We also have some of the finest medical facilities in
the Southeast, and we need to continue expanding
our health care services by attracting more medical
providers to the Perimeter market.
I am also impressed with the quality of leadership
within our city governments, our chambers of com
merce and our civic associations. The future is very
bright for the Perimeter market. And, a bright future
for this market means a bright future for the banks
that serve it.
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