53 search results for "banking"

Thoughts on the Wall Street / Main Street disconnect

First, a disclaimer: I’m not a stock market expert and NO ONE should take my thoughts on stock values as a basis for ANY type of trading. I remember where I was when the Dow peaked in early October 2007.…

It’s Friday so there must be another Georgia bank failure

The FDIC reported this afternoon that McIntosh State Bank in Jackson is the latest Georgia bank to fail: McIntosh State Bank, Jackson, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance…

Another area bank under an FDIC consent order

The Savannah Morning News is reporting this afternoon that The Coastal Bank is under an FDIC consent order, which is often a first response when regulators decide that a bank has too many non-performing assets on its books. Pretty much…

Economist Rajeev Dhawan sees continued slow growth for Georgia

A few days ago, I made the case for a double-dip recession. Yesterday, in a smart piece in the AJC, Georgia State University economist Rajeev Dhawan — who has been right more often than not about the weakness of the…

South Carolina bank with Savannah branch fails

Well it’s not going to count as another Georgia bank failure, but another bank with a Savannah office failed yesterday: Charleston-based Atlantic Bank & Trust. According to the FDIC press release: The three branches of Atlantic Bank and Trust will…

Here we go again: Two more Georgia banks shut down

First Georgia Banking Company of Franklin and Atlantic Southern Bank of were shut down by regulators this evening. From the FDIC press release: CertusBank, National Association, Easley, South Carolina, acquired the banking operations, including all the deposits, of Atlantic Southern…

Two more Georgia banks shut down by the FDIC

Georgia has had more bank failures than any other state during this economic downturn, and we’re leading the rest of the country for 2011. The FDIC has closed five banks tonight, two in Georgia: The Park Avenue Bank of Valdosta…

Another Savannah metro area bank closed by the FDIC

In this post, I provided a good deal of background about the banking crisis in Georgia. At some point soon I’ll update the statistics in that post. We are obviously having another busy year for the FDIC in Georgia, primarily…

Quick update to recent posts on the Georgia bank crisis

Yesterday I mentioned that two more banks in Georgia had been closed by the FDIC. Information in this post on Calculated Risk points to one more Georgia bank now known to be under FDIC scrutiny, as well as one in…

More Georgia bank failures — it’s getting a little embarrassing

I’ve previously written about the grim statistics regarding failed banks in Georgia. See Some background on the banking crisis in Georgia. We led the country (we’re number 1!) in failures from 2008 to 2010. As of 7 p.m. this evening,…

Homebuyer tax credits: A post mortem

Almost exactly three years ago, in one of my City Talk columns in the Savannah Morning News, I predicted that Savannah area home prices were probably about 30% too high. Some readers who had been closely following my researched columns…