The Obama - Clinton Disaster Message Board

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Politics : The Obama - Clinton Disaster

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To: longnshort who wrote (17992)	8/27/2009 4:26:26 PM
From: DuckTapeSunroof	Read Replies (1) of 103300

FDIC: 60% of Georgia banks are unprofitable Atlanta Business Chronicle Thursday, August 27, 2009, 2:43pm EDT bizjournals.com Georgia’s commercial banks reported collectively another loss in the second quarter and nearly 60 percent of all the state’s banks were unprofitable, according to data published Thursday by the Federal Deposit Insurance Corp. The Peach State’s 304 FDIC-insured financial institutions posted a $1.8 billion loss in the period, compared with 333 institutions that posted a $922 million profit in the second quarter of 2008. In the second quarter of 2007, the state had 334 FDIC-insured banks that generated a $1.8 billion profit. Georgia has had more bank failures than any state in the union. Its 17th and 18th bank failures this year came Aug. 21, when ebank and First Coweta Bank were seized by federal and state regulators. According to FDIC’s report, 57.9 percent of Georgia banks were unprofitable at the end of the second quarter, compared with 34.2 percent at the end of the same period last year....

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