Another Georgia Bank Failure
I am beginning to feel like the FDIC is closing a Georgia bank every week. We lost another one yesterday. On Friday, regulators took over Sandy Springs based RockBridge Commercial Bank making it the 25th bank failure this year. Luckily there is only one more Friday (which is usually takeover day) this year so hopefully this will be the last one bank failure. Defaulting real estate borrowers appears to be the culprit yet again. Let’s hope that 2010 is a much better year for the Atlanta and Georgia banks.
Mortgage Rates Increase. Is This A Trend?
Mortgage rates in Georgia increased slightly last week. As of December 13, the average thirty year fixed rate quoted for Georgia borrowers was 4.76 percent. From a historical perspective the rates are still incredibly low but most experts expect the rates to start going up significantly some time next year. Thus, if you have not done so already, now is a great time to refinance your current loan or to go buy a new home.
Free Pancakes on February 23
Hey Buckhead, in honor of National Pancake Day and to help raise money for the Children’s Miracle Network, the International House of Pancakes (IHOP) will be giving away a free short stack of buttermilk pancakes to all patrons on February 23. All 1,400 IHOPs nationwide, including 50 in the Atlanta metro area, will be participating. In return for the pancakes, guests will be asked to make a donation to the Children’s Miracle Network.
Bernanke to Speak in Atlanta
Fed Chairman, Ben Bernanke is scheduled to speak in Atlanta on January 3, 2010. Bernanke will be the opening speaker at the 125th annual meeting of the American Economic Association. The three day long economic summit will be held at the Marriott Marquis on Peachtree Center Avenue in downtown Atlanta.
New Buckhead Restaurant
Shula’s 347 Grill opened for business this week in the Atlanta Mariott Buckhead on Lenox Road across from Lenox Mall. The restaurant is named after legendary football coach Don Shula and his NFL leading 347 career victories. The atmosphere is casual but the food is seriously good. They serve everything from premium Angus beef steaks and burgers, to just off the boat fresh fish to gourmet salads. The bar is a great place for socializing or to catch a game. Come check it out at 3405 Lenox Road, Atlanta, Georgia 30326.
