Special to SEGAZINE
Georgia’s banks weathered collectively an 8.4 percent decline in profitability in 2013, but saw a third consecutive year in the black, according to new Federal Deposit Insurance Corp. data.
Georgia’s 223 banks generated a collective $2 billion profit last year, compared with $2.2 billion in 2012 and $537 million in 2011, as the economic downturn began to wane. In 2012, the state had 228 banks.
The Georgia Bankers Association noted more banks were profitable and more people and businesses were able to make loan payments on time last y