BNET Industries

NetBank Inc.

(NTBKQ) is in the Financial Services Industry

Last Fiscal Year Sales:$418.4M
  • Public
  • US
Dow Jones Description

NetBank is a wholly owned subsidiary of NetBank, Inc. To learn more about NetBank, Inc. and its family of companies, including information about career opportunities, investor relations, and corporate governance, go to www.netbankinc.com. NetBank opened its virtual doors in February 1996 with a business model that would change the landscape of the banking industry. By offering products and services via the internet rather than through expensive bank branches, we could offer industry-leading deposit rates and low or no fees to our customers. It worked. Customers loved this new way of banking and still do. Even though we operate online, we offer excellent Customer Care 24/7.

Number of Employees 2,589
Contact Information

1015 Windward Ridge Pkwy

Alpharetta, Georgia 30005-2231

netbank.com

(770) 343-6006

NAICS Code Commercial Banking: 522110

News & Analysis

netbank inc. - All News and Analysis

  • Accounting Implications of the Subprime Meltdown

    - 2008-12-01

    The Peril of Forgetting the Fundamentals During the late 1990s, it was common to hear that when it came to new Internet companies, earnings did not matter. The technology bust in the early 2000s should have put that claim to rest, but the succeeding housing boom of 2002...

    Tags: KPMG Consulting Inc., NetBank Inc.

  • US regulators pull the plug on NetBank, an online bank with $2.5b in assets because of an excessive level of mortgage defaults

    - 2007-11-01

    US regulators pull the plug on NetBank, an online bank with $2.5b in assets, because of an excessive level of mortgage defaults. It was the largest savings and loan failure since the tail-end of the industry's crisis more than 14 years ago.

    Tags: NetBank Inc.

  • Regulators close NetBank

    - 2007-11-01

    Insured deposits of NetBank, Alpharetta, Ga., have been assumed by ING Bank, fsb, Wilmington, Del. NetBank, with $2.5 billion in total assets and $2.3 billion in total deposits as ofjune 30 was dosed Sept. 28 by the Office of Thrift Supervision and the FDIC was named receiver.The failed bank was...

    Tags: FDIC, NetBank Inc.

  • Notice of Filing Securities Class Action Against NetBank Inc

    - 2007-10-22

    ATLANTA -- Chitwood Harley Harnes LLP announced today that it has filed a lawsuit seeking class action status in the United States District Court for the Northern District of Georgia on behalf of all persons (the "Class") who purchased the securities of NetBank Inc. (NASDAQ OTC: NTBKQ.PK) (formerly NTBK, NTBKQ)...

    Tags: NetBank Inc.

  • Other Bank Closures May Follow

    - 2007-10-15

    The closure by regulators of the $2.5-billion online bank NetBank may be the first of other seizures to come, according to analysts. After closing just one institution between June 2004 and September of 2007, problems in the mortgage market and a dearth of buyers for troubled assets are likely to...

    Tags: NetBank Inc.

Decision Makers

Name (plus bio) Position
Doug Freeman CEO
Marsha Calfee Director of Crm Delivery

Board of Directors

Name (plus bio) Position
T Stephen Johnson Chairman
Tamara L. Adler Lundgren Board of Directors

Doug Freeman has been CEO of NetBank, a $4 billion on-line bank and mortgage lender, since January, 2000. Prior to that, Doug was President of Bank of America's Consumer Finance Group. From 1991 to1996, Doug was a Consumer Corporate Bank Executive with Barnett Bank, Inc., and became Chief Consumer Bank Executive at Barnett in March 1996, a position he held until March 1998. After NationsBank acquired Barnett in March 1998, Doug became President of the Consumer Finance Division of NationsBank, N.A.

Organization Position Status
NetBank, Inc. CEO Current
Bankatlantic Bancorp, Inc. Executive Vice President and Chief Corporate Banking Executive Current
Barnett Bank Consumer Corporate Bank Executive Former
NetBank, Inc. Chairman Former

Organization Position Status
Possible Woman Enterprises, Inc. Director of Crm Delivery for Netbank, Inc. Netbank Current
NetBank, Inc. Director of Crm Delivery Current
Saleslogix Corporation Former
Firstwave Technologies, Inc. Vice President of Product Management Former

T. Stephen Johnson's (Steve) role is as an external member of the Board of Directors of NHB Holdings. Mr. Johnson was instrumental to the formation of the Company and has an unparalleled ability to effectively start, grow and sell banks. Mr. Johnson has been in the banking business for his entire professional career. His company, T. Stephen Johnson & Associates, was founded in 1986 and has helped over one hundred organizing groups start new banks throughout the United States, predominantly in the southeast. In addition, Mr. Johnson founded and is the Chairman Emeritus of NetBank (NASDAQ: NTBK). Mr. Johnson also orchestrated the formation of and served as Vice Chairman of Florida Banks, Inc., Jacksonville, Florida (FLBK) in its initial acquisition of the First National Bank of Tampa in 1998. The company grew to $1 billion in assets and operated in six Florida markets. Florida Banks sold to The South Financial Group, Greenville, South Carolina in July 2004. In addition to the public companies, he is chairman of Bank Assets, a company that provides benefits plans for banks and Directo, a company that creates direct deposit accounts for the un-banked. Mr. Johnson is a graduate of the Georgia Institute of Technology, with an MBA from Georgia State University.

Organization Position Status
NetBank, Inc. Chairman Current
Nhb Holdings, Inc. External Member of the Board of Directors of Nhb Holdings Current
Trustatlantic Bank Board of Directors Current
Georgia State University MBA Former

Organization Position Status
NetBank, Inc. Board of Directors Current
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