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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank -- Ignore unavailable to you. Want to Upgrade?

To: Lord Data who wrote (134)	3/19/1998 10:43:00 PM
From: Les White	Read Replies (1) \| Respond to of 2414

>>could you explain more about G&L Bank?<< Well, you're not gonna believe this one but here it is. G&L Bank will be an internet bank target marketing to the gay and lesbian community. I first heard about it when I saw an article in my home town newspaper several months ago. They will headquarter in my home town. I am a general contractor and was intrigued by the idea of an internet bank. I e-mailed the founder and offered to bid on the office construction. My research on the subject lead me to AIB of which I am now a shareholder. Back to G&L. After interviewing the founders for several hours and questioning them at length about their business and marketing plan I became convinced that they had a viable plan and are sharp enough to execute it correctly. The demographics of the gay community are pretty good and they are easily marketed to on the internet and the few popular gay publications. In general they have higher disposable household incomes and are loyal to gay friendly businesses. The capper for me was when I was shown a full page color ad in The Advocate (gay mag) by American Express targeting the gay community. You've got to figure American Express has done it's marketing research. Anyway the founders are career bankers and are very focused on what they are about to do. So to make a long story short, I am currently remodeling 6000 sf of office space G&L has leased for the start up in July. I am watching closely to see what type of management team they put together. Two weeks ago G. Kay Griffeth, a bank consultant and former Nations Bank executive signed on as the G&L CEO. (not gay, in case you're wondering) I have been told she is a turn around artist. The hired gun who goes into a failing bank and gets them back on the right track. She'll be here next week to begin assembling the management team. I must have the front offices ready for occupancy by then. I am looking forward to picking her brain. Anyway, the point of the story is that they'll be going public as soon as possible. OTS (Office of Thrift Supervision) is requiring 15mil on deposit to activate their charter. This will be raised by IPO. I believe that I am witnessing the setting of a table for a very fine feast indeed. I can hear the buzz already. Local business reporter is following the story, Gay media has picked it up, G&L web site hit count is accelerating. Steven has given me a set of plans for a boarding kennel that he'll be financing when the bank opens. Not even open yet and customers are at the doors. They'll be using Edify's Electronic Banking System (same as AIB). SD said Edify want's this deal bad. Edify will have the first 2 pure internet banks using their software. I think the IPO will go very well and that they'll ramp up even faster than AIB. I'm watching very closely and learning as much as I can in order to be an informed investor in both AIB & G&L. Well, I guess I've told you more than you want to know but it is all very interesting and exciting to me. This is cutting edge stuff. BTW, I'm not gay, not that there's anything wrong with that, just on the prowl for good growth stocks. Les