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May 9, 2005
Gainesville Bankers Jumping in the Water and Swimming Out to the UCB Boat
The Georgia banking franchise at Regions Financial got a lot thinner in the last week or so, as United Community Banks pulled off one of the biggest liftouts you’ll see in regional banking.
In a press release dated Saturday, April 30, United Community announced the addition of three senior bankers in Gainesville, Georgia. Gainesville is the country seat of Hall County, just outside of Atlanta. Over the last decade or so, Hall County’s growth—the country has doubled in population in the last 25 years—places it in among the fastest growing counties not only in Georgia but in the nation.
These three bankers were the senior leadership from the local outpost of Regions Financial in Gainesville. The “grapevine talk” was that Regions was pretty sore about losing these three gentlemen, as they were leaders of the Gainesville operation and excellent bankers.
If losing these three caused soreness, then Regions must be in traction by now. As word of these departures spread and the plans to open a bank for United Community became apparent, a number of the trio’s former colleagues sought to join the new effort. After only five days, United Community issued another press release, announcing ‘acceleration” of its Gainesville expansion plans with the hiring of fifty bankers. We understand that most—although not all—of these professionals came from Regions.
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