According to data from the Federal Deposit Insurance Corp., Georgia`s commercial banks reported 62% of them posted collective losses for the third quarter. The 257 FDIC-insured banks in the state recorded a $2.4 billion loss in the quarter, compared with 281 banks that posted a $1.07 billion profit in the third quarter of 2008 and 287 banks that had a $2.4 billion profit in the third quarter of 2007.
As of Sept. 30, Georgia’s banks employed 44,400 people, compared with 47,682 in the third quarter of 2008 .
Total assets at the state’s banks dropped to $257 billion, compared with $262.4 billion in the third quarter of 2008.
Total deposits rose to $200.1 billion, compared with $195.3 billion in the third quarter of 2008.
Noncurrent loans and leases to total loans and leases jumped to 6.08 percent, compared with 3.47 percent in the third quarter of 2008.
All figures do not include FDIC-insured savings institutions
Coosa Valley News