Northwest Georgia's Business Report

Closer look at River City Bank's decision to leave Carrollton:

-The banking community in Carrollton, Villa Rica and other parts of Carroll County has been hit hard by loan issues and related problems. Just last Friday, First National Bank of Georgia, based in Carrollton, was closed and the Federal Deposit Insurance Corp. was named receiver. It controlled more than 27 percent of the market's deposits, $552.4 million, good enough for first place. (Click)

-A review of FDIC annual reports shows the market lost $47,363, 000 in deposits between June 30, 2008, and last June 30.

-There were 15 banks doing business in Carroll County in 2008, which was down to 12 banks (mergers, etc.) by June 2009.

-Now comes River City Bank's announcement to close the Carrollton office by May 5. As of June 30, River City Bank had $29.75 million in deposits in Carroll County or 1.47 percent of the market.  That compares to $18.25 million and .88 percent of the market a year earlier.

-Says the bank's official release: All accounts opened at this location will be automatically transferred to and serviced by the bank’s main office on Second Avenue in Rome. Carroll and surrounding counties continue to experience significant challenges because of the current economic situation. Says Roger Smith, CEO: “Challenging times require difficult decisions. This decision will enable River City Bank to reduce operating expenses thus enhancing the bank’s future profitability and maintaining the Bank’s status as a well capitalized financial institution.”

Taking a look under the hood at The Garage repair shop

By Natalie Simms

natsimms76@gmail.com

Local car owners have another resource for repairs and maintenance through Rome’s newest business “The Garage.” Owners Jack Knight and Trina Rohner recently opened the repair shop at 1321 Martha Berry Blvd. in the former Heritage Nissan building at the corner of John Davenport Drive and Martha Berry Highway.

“I’ve been in the car business for 16 years and Jack has over 20 years experience,” Rohner says. “We just had so many people come to us looking for someone they could trust to do quality work that they could afford … it was something people needed so we thought, 'Why not do it ourselves?' ”

The Garage has a full offering of car repair services, including oil/filter change with Castrol oil products, tire sales/repairs and laser alignment. They do not do body shop work.

“We have all brand new equipment and top-of-the-line mechanics that I hand-picked … my most important tools are my guys,” Rohner says. The Garage has three full-time mechanics with another “highly reputable” mechanic scheduled to join next month.

“We have lots of room to grow,” she says. “We currently have four (car) lifts and room to add at least four or five more. We also plan to add about five or six more auto technicians within the next six months.”

Along with repairs, Rohner is targeting customer service.

“We treat our customers like family … they are very important to us,” she says. “We’ve also set up two customer offices for those who might have to wait on repairs but still need to do work. The offices have wireless Internet services, so customers can still work while they wait. Plus we have a kids’ playroom that has been given the stamp of approval by my three children.”

The Garage is offering a grand opening special for an oil/filter change for $19.99 (for up to four quarts). The shop is open Monday-Friday from 7:30 a.m. to 5:30 p.m. and Saturday from 9 a.m. to 1 p.m. Shuttle service and early-bird drop-off services are available. For more, call 706-291-2818, visit www.thegarageofrome.com (coming soon) or check out their page on Facebook.

Jane Mitchell leaving Coosa Valley Credit Union after 22 years: (Media release) Jane Mitchell of the Coosa Valley Credit Union has announced her retirement after 22 years of service. Mrs. Mitchell came to work for the Credit Union in 1988 as the Visa program coordinator. She then moved on to be a mortgage loan processor and finally a Member Services Specialist. Mrs. Mitchell stated fondly, “My favorite memories are the pot luck dinners the employees use to have back when the Credit Union closed at 1 p.m. on Wednesdays and the employee Christmas parties. The Credit Union employees were really like one big family.  I will miss the day to day interaction with my co-workers and members that I have known for 22 years and helping them and their families with their finances.” Mrs. Mitchell plans to spend time with her 12 grandchildren and her husband and just relax.

December stats show 8,400-job loss for region in past 12 months

Source: Georgia Department of Labor

-Local overview: The jobless rate across Northwest Georgia didn't change much compared to November but increases remained substantial when compared to December 2008. Nearly 5,800 people were without jobs in Bartow County last month followed by 5,245 Floyd County residents.

-Gordon continued to post the highest jobless rate in the market, 13.1 percent, vs. the state's 10.0% for December. A year earlier, Gordon was at 9.9 percent.

-Where the downturn really shows up: The "employed" listing above shows how many people had jobs in our area in December.  The region has lost nearly 8,400 jobs in 12 months, a 6 percent drop year over year. There also was a slight drop in the number of people working in the five-county area last month vs. November reports, a bit of a surprise given the Christmas shopping hiring season.

-Statewide: Now compare the drop to the state. The number of payroll jobs in December was 3,859,800, a 175,000-job, 4.3 percent drop from December 2008.

-Where the jobs were lost: Trade, transportation and utilities, manufacturing, construction, and professional and business services.

-Who was hiring: educational, health services added 11,200 jobs over the year.

Linda Barrett retiring after 35 years with Coosa Valley Credit Union

(Media release) Linda Barrett of the Coosa Valley Credit Union has announced her retirement after 35 years of service. Barrett came to work part-time for the Credit Union in 1975 when it was still known as the General Electric Employees Credit Union and was housed in a trailer in side the plant facility. She began her carrier as a clerk-teller, then moved on to collections officer, loan officer-member service representative, followed by manager of the loan department, and for the past several years as the manager of the Credit Union’s mortgage loan department. Said Barrett: “My favorite memories are many and varied but I loved when the credit union was in the trailer inside the GE plant and the fun times we had each day.  The Credit Union employees and the employees of GE were really like one big family.  I will miss the day-to-day interaction with my co-workers and folks that I have known for 35 years and helping them with their finances and sometimes just being that person that listens to them.” Barrett plans to spend time with her family and friends while keeping her relationships with members she has come to know and love over the years.