Asian-Americans, whose ranks in metro Atlanta swelled more than 200 percent between 1990 and 2000, are becoming the new "it" demographic for banks in Atlanta.

Three banks are being formed in metro Atlanta to serve what has become the nation's fifth-fastest-growing Asian consumer market -- up 481 percent since 1990 -- and larger, out-of-state Asian-focused banks are eying the market as well, say observers. . . .

Between 1990 and 2000, the Asian population in metro Atlanta increased 229 percent to 135,959 from 41,323, according to the U.S. Census Bureau.

Accordingly, Asian buying power in Georgia now is among the heftiest in the country.

Georgia's Asian buying power was projected to be $6.5 billion this year, according to a report on minority buying power in Georgia by Jeffrey Humphreys, director of the Selig Center at the Terry College of Business of The University of Georgia.

The increase in buying power among Asians in Georgia ranks fifth behind only North Carolina, Nevada, Nebraska and South Dakota.

That has created many suitors eager to bank the state's Asian-Americans.

The history of the Asian-American community in Atlanta is not limited; for example, the Atlanta chapter of the National Association of Chinese Americans (NACA) just celebrated its 25th anniversary.

The Asian-American demographic in Atlanta, however, is achieving critical mass, not just in population, but affluence and business ownership. The growth in existing banks like Summit National Bank and the rise of new competition is recognition of this clout.

It’s a very good sign for Atlanta’s continued economic vitality.