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State Bank adds second branch; now has 32 locations in Georgia

A bank with a Savannah “bloodline” has opened its second full-service Savannah branch and celebrated the accomplishment Monday morning with a grand opening.

State Bank has Tom Wiley as its CEO and vice president. Wiley is a well-known Savannah banker from his years here at Coastal Bank.

The new location at 602 Mall Boulevard, joins the first branch, located at 120 Drayton Street.

Wiley, who could not attend Monday’s event, said State Bank has much to offer.

The company believes in personal service for all their customers.

“We still put bankers on the street,” Wiley said.

State Bank is based in Atlanta with a focus on Georgia.

”We are now in seven or eight of Georgia’s MSAs,” Wiley said. A MSA is a metropolitan statistical area. For this area it includes Chatham, Effingham, and Bryan Counties. MSAs are used by the U.S. Census Bureau and other entities statistical purposes.

Locations for State Bank are across Atlanta, and in Macon, Middle Georgia, Augusta, Athens, Gainesville, Reidsville, Hinesville, Glenville and Savannah.

The company also recently acquired Alostar, an asset-based lending platform raising its assets to about $5 billion.

State Bank has hired a treasury professional and market president for Savannah.

“We have a market leader in each market that can make decisions locally,” Jonathan Shapleigh, market president said. “We are decentralized.”

Shapleigh said Keith Parker will head the Mall Boulevard location with three mortgage professionals and five other employees.

Shapleigh said the treasury banker is a professional dedicated to generating and growing deposits.Treasury banking professional for State Bank is Justin Lake.

“He will call on businesses, commercial accounts and municipalities,” Shapleigh said.

In addition to traditional banking, the bank also offers a SBA loan service, payroll, and equipment financing options.

Wiley said the bank has made a “significant human capital investment.”

The company is led by people with many years of experience in the industry.

Technology is always evolving and State Bank works to provide the best tools for their customers, Shapleigh said.

“There have been changes in banking and there will be more,” Wiley said.

One thing that hasn’t changed is the need for person-to-person service.

Wiley said State Bank is in the best place for it, and its customers, to thrive.

“Georgia is the best state in the Southeast and the Southeast is best place in the country,” Wiley said.

As of Monday, State Bank’s shares on the Nasdaq (STBZ) were at $30.70 per share, up from $25.64 at the same time last year.

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