Alamerica Bank: Difference between revisions
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[[Image:Alamericabank-logo.gif|right|225px]] | [[Image:Alamericabank-logo.gif|right|225px]] | ||
'''Alamerica Bank''' is based in Birmingham, with headquarters and one branch in the [[Alamerica Bank Building]] at 2170 [[Highland Avenue]] in [[Southside]] Birmingham | '''Alamerica Bank''' is based in Birmingham, with headquarters and one branch in the [[Alamerica Bank Building]] at 2170 [[Highland Avenue]] in [[Southside]] Birmingham. | ||
The President and CEO of Alamerica Bank is [[Lawrence R. Tate]]. [[Donald Watkins]] is on the bank's board of directors. | The President and CEO of Alamerica Bank is [[Lawrence R. Tate]]. [[Donald Watkins]], one of the bank's founding investors, is on the bank's board of directors. | ||
Alamerica officially opened its doors for business on [[January 28]], [[2000]], and achieved operational profitability within six months of operation. It is considered to be a well-capitalized bank with assets totaling $72 million as of [[2007]]. | |||
==City of Birmingham accounts== | |||
$40 million of the bank's total deposits are owned by the City of [[Birmingham]] and were deposited at the direction of Mayor [[Bernard Kincaid]]. Alamerica holds approximately 10% of the city's deposits, and provides a higher rate of return than any other local bank. However, since the deposits are awarded without taking bids and because Watkins' [[Voter News Network]] and other political action committees have been Kincaid's primary campaign fundraisers in the [[2003 Birmingham mayoral election|2003]] and [[2007 Birmingham mayoral election|2007 mayoral election]]s, there is, according to banking expert Tony Plath, a conflict of interest.<sup>1.</sup> | |||
==References== | |||
# Diel, Stan (September 9, 2007) "City is Alamerica's top patron." ''Birmingham News''. | |||
==External Links== | ==External Links== | ||
* [http://www.alamericabank.com/ Alamerica Bank] website | |||
[http://www.alamericabank.com/ Alamerica Bank] website | |||
[[Category:Banks]] | [[Category:Banks]] | ||
[[Category:Highland Avenue]] | |||
Revision as of 08:02, 9 September 2007
Alamerica Bank is based in Birmingham, with headquarters and one branch in the Alamerica Bank Building at 2170 Highland Avenue in Southside Birmingham.
The President and CEO of Alamerica Bank is Lawrence R. Tate. Donald Watkins, one of the bank's founding investors, is on the bank's board of directors.
Alamerica officially opened its doors for business on January 28, 2000, and achieved operational profitability within six months of operation. It is considered to be a well-capitalized bank with assets totaling $72 million as of 2007.
City of Birmingham accounts
$40 million of the bank's total deposits are owned by the City of Birmingham and were deposited at the direction of Mayor Bernard Kincaid. Alamerica holds approximately 10% of the city's deposits, and provides a higher rate of return than any other local bank. However, since the deposits are awarded without taking bids and because Watkins' Voter News Network and other political action committees have been Kincaid's primary campaign fundraisers in the 2003 and 2007 mayoral elections, there is, according to banking expert Tony Plath, a conflict of interest.1.
References
- Diel, Stan (September 9, 2007) "City is Alamerica's top patron." Birmingham News.
External Links
- Alamerica Bank website