Georgia Primary Bank - Primary Notes - Quarterly Online Newsletter
View this email in your browser
Volume 1, Issue 1
Included in this issue:

Letter from the President
Community Involvement
Employee Spotlight - Vasudha Mistry
Individual Retirement Accounts
Cyber Security Center - Ransomware

Letter from the President

Georgia Primary Bank welcomes you to the first edition of our quarterly online newsletter, Primary Notes of Interest.  Georgia Primary Bank just completed a successful 2015, and we thank each and every one of you for your role in making that happen.   Our recent success has translated into less regulatory oversight as we show improving profitability and a stronger capital base.
It is our goal that this newsletter will serve as an effective communication tool as we continue to grow and prosper at Georgia Primary Bank.  We will strive to deliver meaningful information about the local community, our employees and relevant banking issues that are important to us all.
Perhaps the thing I am most proud of is the degree to which we extended our community involvement in 2015. When we started Georgia Primary Bank nearly a decade ago, we saw a unique opportunity to deliver niche, high personal touch, value added products and services to the Buckhead community.  In order to gain widespread acceptance in the community, we have to engage in projects and causes which are important to our local business owners, entrepreneurs, homeowners and consumers.  By engaging in such projects as The Chastain Park Conservancy and The Taste of Buckhead, we showed our commitment to the Buckhead Community, and we are already seeing some strong business opportunities develop from our involvement.
I am very proud of the team we have assembled at Georgia Primary Bank.  Each employee has risen to the challenge of providing excellent service and enthusiasm the Buckhead community expects.  I am convinced that this “customers first” attitude will continue to drive our future success.  By being such a client-focused bank, we will always be a refreshing alternative to the numerous Big Bank choices that our customers have.
Thank you for doing business with Georgia Primary Bank and welcome once again to the first edition of Primary Notes of Interest.

Which Individual Retirement Account (IRA) is right for you?  

The IRA is one of the most important products that we offer.  We recently sent out a brochure to individuals in our area that directed customers to Georgia Primary Bank for their IRAs.  There are two main types of IRAs that we offer to our clients:  the Traditional IRA and the Roth IRA.
The traditional IRA permits contributions to be tax deductible, and earnings grow on a tax-deferred basis.  Anyone with an earned income can contribute, and after age 59 ½, withdrawals are penalty-free but taxed as current income.
Roth IRAs do not allow contributions to be tax-deductible, but after age 59 ½, (and if the account has been open 5 years), earnings are tax and penalty free.
IRAs are such an important product because we, as a country, face a growing problem of retirees not having sufficiently saved for retirement.
In 2010, the median household retirement account balance for workers aged 55 to 64 was $120,000, which will provide only a small supplement to Social Security, but a third of households had no retirement savings at all. 75% of Americans nearing retirement age had less than $30,000 in their retirement accounts, which Forbes called "the greatest retirement crisis in American history." *
Our Customer Service Representatives are highly trained and skilled at answering questions for our clients’ specific needs, as they seek to secure their retirement dreams. Stop in and visit today or visit
Please consult your tax professional for information on tax implications of your IRA.

*Facts quoted in this article were published by Forbes/Investing on March 20, 2013.  The Greatest Retirement Crisis in American History by Edward Siedle.


Community Involvement

Congratulations to David Coxon, our President and CEO, as he accepts the gavel at the Buckhead Business Association's (BBA) 2016 Annual Luncheon on February 25th, 2016. Mr. Coxon is now serving as the 2016 President.

Employee Spotlight

Head Teller Vasudha Mistry

For our first Employee Spotlight in Primary Notes of Interest, we thought it was appropriate to focus on Head Teller Vasudha Mistry, who has been with us since the Bank was founded in 2007. Vasudha  was born and raised in Borsad, India, and she holds Bachelors in Education and Bachelors in Economics degrees from the University of Gujarat .
Upon graduating, Vasudha started teaching at Gothva High school, where she taught Economics and Psychology.
Vasudha came to America with her two year old daughter and twin boys in 1985. She spent 15 years working at American Honda Motor Company before returning to school where she studied Accounting at Lanier Tech.
Prior to joining Georgia Primary Bank, Ms. Mistry also worked at South Trust, Main Street Bank and BB&T.
Asked what she liked about working at Georgia Primary Bank, Vasudha said “Everyone is so nice, I feel like this is my second home”. 
Outside of the bank, Vasudha likes traveling and playing games.

Congratulations to our Retail Banking Officer, Beth Szala! She was recognized for providing outstanding customer service to our customer Brent Sobol and his company, Legacy Housing Corporation.  Keep up the good work Beth! 

Cyber Security Center - What You Need to Know

Ransomware attacks are becoming more prevalent recently.  Per the definition above, the purpose of these attacks is to attempt to extort money from their victims with the assurance they will restore your data. If this should happen to you (hopefully it won't!) here is a list of dos and don'ts once they have your data:
  • Do not pay the ransom! - Paying the ransom will not insure you will get your data back, in fact it could make you a more likely target for future attempts. 
  • If you have a trusted good backup source, restore your files. Do this only after you have removed the impacted system and removed the threat. Without a good backup source, there will probably be no way to restore your information.
  • Install a multi-faceted security system on your computer such as anti-virus software. This system should have protections for all levels of attacks from basic viruses through Malware protection. 
  • If needed, find a trusted computer professional or company to consult when problems occur. 
Copyright © *|2016|* *|Georgia Primary Bank|*, All rights reserved.