Question 1

What is Craft Bank?

Accepted Answer

Craft Bank is a community-focused commercial bank headquartered in Atlanta, Georgia, with approximately $277 million in total assets. Established as a de novo bank in 2020, Craft Bank specializes in serving small to mid-sized businesses throughout the Atlanta metropolitan area and beyond.

Operating two domestic offices in the Atlanta-Sandy Springs-Alpharetta metro area, the bank combines personalized relationship banking with innovative digital technology. Craft Bank has quickly established itself as a high-performing institution, ranking in the top 10% nationwide in SBA lending activity and among the top 10 lenders in Georgia by closed loan volume.

Question 2

When was Craft Bank founded?

Accepted Answer

Craft Bank received conditional approval for its banking charter and deposit insurance from the Georgia Department of Banking and Finance and the Federal Deposit Insurance Corporation in May 2020. The bank officially opened for business on October 15, 2020.

Craft Bank holds the distinction of being the first de novo bank chartered to operate inside the Atlanta perimeter in over 13 years. The bank was founded by a group of highly accomplished senior banking executives, each with decades of financial services experience in the Greater Atlanta area, averaging 30 years of service to local businesses.

The founding team includes President and CEO J. Ross Mynatt, Chief Financial Officer Kitty Kendrick, Chief Lending Officer Greg Griggs, Chief Credit Officer Mike Cullinan, and Chief Experience Officer Beth Martin. Despite the challenging timing of launching during the COVID-19 pandemic, Craft Bank successfully completed its capital raise of $20-30 million and began operations in late 2020.

Question 3

Where is Craft Bank headquartered?

Accepted Answer

Craft Bank is headquartered in Atlanta, Georgia, at 1575 Northside Drive, Building 100, in the vibrant West Midtown neighborhood. The bank's office is located within the Atlanta Technology Center, positioning it in one of Atlanta's most dynamic business districts.

The West Midtown location provides easy access to the urban core of Atlanta while serving the broader metropolitan area.

Question 4

Where does Craft Bank operate?

Accepted Answer

Craft Bank operates throughout the Atlanta-Sandy Springs-Alpharetta metropolitan area, with two offices serving Fulton County and surrounding regions. While the bank maintains a strong focus on serving local Atlanta businesses, its digital platform enables it to serve customers nationwide.

The bank's primary service area encompasses the greater Atlanta region, though its sophisticated technology infrastructure and remote banking capabilities allow it to work with clients across Georgia and beyond. Craft Bank's lending activities extend throughout the state and to qualified businesses in other markets through its SBA lending programs.

Question 5

What services does Craft Bank offer?

Accepted Answer

Craft Bank offers comprehensive commercial banking services tailored to small and mid-sized businesses. Business banking products include business checking and savings accounts, treasury management services, remote deposit capture, ACH services, and wire transfer capabilities.

The bank specializes in commercial lending, including term loans ranging from $10,000 to $500,000 with terms of 1 to 5 years, commercial real estate financing, equipment loans, business acquisition financing, and working capital lines of credit. Craft Bank has developed particular expertise in SBA lending, having closed approximately $50 million in SBA loans since launching its SBA department in January 2021.

Digital banking services include online banking, mobile banking apps, and a fully integrated digital platform that allows customers to manage accounts, make payments, and access lending services remotely. The bank also offers personal banking products to business owners and their employees, creating a comprehensive financial services relationship.

Craft Bank focuses on serving businesses in manufacturing, distribution, professional services, and other sectors with revenues up to the mid-market range, providing industry-specific expertise and tailored financial solutions.

Question 6

What makes Craft Bank unique?

Accepted Answer

Craft Bank's defining characteristic is its position as Atlanta's first de novo bank inside the perimeter in over a decade, filling a gap left by the decline in community bank presence in the region. The bank's core values of Respect, Accountability, Transparency, Engagement, and Innovation (RATEI) guide its approach to every customer relationship.

Unlike larger institutions, Craft Bank offers rapid loan decisions through local underwriting and decision-making authority. The bank can process commercial loan requests from application to funding in significantly shorter timeframes than customers typically experience with regional or national banks.

Craft Bank's exceptional early performance includes achieving top 10% status nationwide in SBA lending activity within just two years of opening and ranking #54 out of 143 banks in Georgia on the "Georgia All-Stars" list. The bank's nimble, client-centered approach paired with technology rivaling that of major banks creates a competitive advantage.

The founding team's deep Atlanta relationships and community connections have enabled rapid growth and strong customer acquisition. The bank's Board of Directors actively refers business and participates in the bank's growth strategy, demonstrating alignment between governance and operations.

Question 7

What type of financial institution is Craft Bank?

Accepted Answer

Craft Bank is a state-chartered commercial bank with FDIC insurance, operating as a full-service community bank with a strong commercial banking focus. As a de novo institution, Craft Bank represents a new-generation community bank built from the ground up with modern technology infrastructure and contemporary banking practices.

The bank exemplifies the community banking model through local ownership, local decision-making, and community reinvestment, while incorporating digital-first capabilities typically associated with larger institutions. Craft Bank's structure as a locally-owned commercial bank allows it to compete effectively against large national and regional banks by offering customized solutions and personalized service that larger institutions cannot match.

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