- Post 25 February 2013
- By Special to the Daily World
- Hits: 633
Capitol City Bank & Trust Company and North Carolina Mutual Life Insurance Company, two African-American businesses known throughout the US, are coming together to grow their businesses, provide greater financial opportunities for their customers and to spread more wealth into the community.
North Carolina Mutual Life Insurance Company (NCM) is the oldest and one of the most successful African-American insurance companies in the United States; Capitol City Bank & Trust Company (CCB) is a new progressive African-American financial institution that sells financial services. The joining of these two minority businesses will produce a conglomerate that provides a mix of insurance and financial services under one roof.
This strategic alliance enables CCB and NCM the opportunity to pursue major contracts with municipalities and major corporations throughout this region; and provides the ability to offer customers any and all types of financial products and services.
These business arrangements have been in discussions since early 2012 and will become operative immediately
providing Capitol City Bank with the opportunity to offer insurance programs to municipalities, corporations and individuals which are already among its customer base.
"The partnership allows both companies to be more competitive," says George Andrews, President and CEO of Capitol City Bank. "We will offer an array of new and varied insurance products to our constituents here in Georgia that should increase profit for both companies. We will be able to get into doors that have been previously closed to us."
George Andrews has built a solid professional career in Atlanta and the State of Georgia as a People's Banker.
"We made our mark in the communities that we serve through our practices to engage the communities through grass-roots leadership, churches and various start-up businesses," said Andrews. "We have been working on building a legacy to bank on."
North Carolina Mutual Life Insurance Company has made a substantial financial investment in Capitol City Bank.
According to James Speed, President and CEO, "North Carolina Mutual is pleased to enter this historic partnership with Capitol City Bank & Trust Company.
"We pride ourselves on finding the best solutions to meet the unique needs of our community and this strategic alliance allows both companies the opportunity to efficiently provide best in class insurance products and services to CCB's customer base and beyond in a cost effective manner. As we celebrate 115 years this year we are humbled to begin a new chapter with CCB as a joint partner."