Question 1

What is PromiseOne Bank?

Accepted Answer

PromiseOne Bank is a community-focused commercial bank specializing in small business lending and SBA financing. Headquartered in Duluth, Georgia, within the Atlanta metropolitan area, the bank operates multiple branches across Georgia, Texas, and Virginia. With approximately $823 million in total assets and 10 offices, PromiseOne Bank serves diverse communities with a particular emphasis on commercial lending, real estate financing, and personalized banking services.

The bank operates as a subsidiary of PromiseOne Bancorp, Inc. and is classified as a state-chartered commercial bank that is not a member of the Federal Reserve System, supervised by the FDIC.

Question 2

When was PromiseOne Bank founded?

Accepted Answer

PromiseOne Bank was established on November 6, 2008, originally under the name NOA Bank. The bank was founded by a group of individuals who shared a vision to create a true community bank that would serve diverse communities and their banking needs.

The institution began operations on its founding date, opening its first branch in Duluth, Georgia, in Gwinnett County. On April 10, 2019, the bank underwent a significant rebranding, changing its name from NOA Bank to PromiseOne Bank to reflect its evolving identity and expanded service offerings.

Question 3

Where is PromiseOne Bank headquartered?

Accepted Answer

PromiseOne Bank is headquartered in Duluth, Georgia, located in Gwinnett County within the Atlanta-Sandy Springs-Alpharetta metropolitan statistical area. The main office is situated at 2385 Pleasant Hill Road, Duluth, GA 30096.

The bank relocated its headquarters to this address on December 15, 2014. The operations center and loan center are located nearby at 2400 Pleasant Hill Road, Suite 340, in Duluth.

Question 4

Where does PromiseOne Bank operate?

Accepted Answer

PromiseOne Bank operates 10 offices across three states, with the majority concentrated in the Atlanta metropolitan area. In Georgia, the bank maintains branches in Duluth (main office), Doraville, Johns Creek, Suwanee (two locations), and the Sugarloaf and McGinnis areas, primarily serving Gwinnett, DeKalb, and Fulton Counties.

The bank has expanded beyond Georgia with locations in Texas (Houston) and Virginia (Annandale and Centreville). Additionally, PromiseOne Bank previously operated loan production offices (LPOs) in New York, Texas, Denver, and Virginia to extend its commercial lending reach without full branch operations in those markets.

Question 5

What services does PromiseOne Bank offer?

Accepted Answer

PromiseOne Bank provides a comprehensive array of depository and lending products designed for both business and personal banking customers. Core services include various checking and savings accounts, money market accounts, and certificates of deposit.

On the lending side, the bank specializes in SBA financing and commercial lending, offering commercial loans, construction financing, real estate loans, residential mortgages, and specialized loans for medical professionals. The bank's digital banking services include online banking and mobile banking platforms, complemented by treasury management and cash management services for business clients.

PromiseOne Bank emphasizes personalized service and relationship banking, positioning itself as a community bank alternative to larger regional institutions.

Question 6

What makes PromiseOne Bank unique?

Accepted Answer

PromiseOne Bank has earned significant recognition for its exceptional performance among community banks. The institution received Bauer Financial's 5-STAR rating (the highest possible) in 2011 and was selected as one of the top 100 performing community banks by SNL Financial for five consecutive years (2012-2016). In 2014, NOA Bank was ranked #1 in ICBA's "Best of the Best" report under the $300 million asset category for Subchapter S Banks.

The bank's strong financial performance is reflected in its return on assets (ROA) of 1.42% and return on equity (ROE) of 17.78%, both well above industry averages. PromiseOne Bank's specialization in SBA lending and its commitment to serving diverse communities distinguish it from traditional community banks.

The institution's strategic expansion through carefully selected branch locations and loan production offices demonstrates its balanced approach to growth while maintaining its community bank philosophy.

Question 7

What type of financial institution is PromiseOne Bank?

Accepted Answer

PromiseOne Bank is a state-chartered commercial bank that is not a member of the Federal Reserve System, supervised by the FDIC. This classification means the bank operates under a state banking charter (Georgia) rather than a national charter, and it chose not to join the Federal Reserve System, making the FDIC its primary federal regulator.

As a commercial bank, PromiseOne Bank focuses on business banking services, particularly small business lending and SBA-guaranteed loans, while also offering traditional retail banking products. The bank's structure as a community bank allows it to maintain local decision-making authority and personalized service while competing with larger regional and national banks in the Atlanta market and beyond.

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