Georgia Banks Post $694M Loss, but Improve

September 1, 2010  |  

(Atlanta Business Chronicle) — Georgia’s banks posted an 11 percent improvement in earnings in the second quarter.

According to data published Tuesday by the Federal Deposit Insurance Corp., Georgia’s banks had a collective net loss of $694.1 million in the second quarter, compared with a net loss of $785.2 million in the second quarter of 2009. It marked the sixth quarter in a row Georgia’s banks failed to be profitable as an industry.

Some 49.1 percent of all Georgia banks were unprofitable in the second quarter, compared with 57.7 percent in the second quarter of 2009.
Read More…

Trending on MadameNoire

Comment Disclaimer: Comments that contain profane or derogatory language, video links or exceed 200 words will require approval by a moderator before appearing in the comment section. XOXO-MN