
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.…
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…
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…
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…
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…
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…
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…
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…
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…
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,…
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…