A couple of pieces in yesterday’s Savannah Morning News shed some interesting light on the local housing market and on broader national issues. In his monthly roundup of data, reporter Adam Van Brimmer quotes a couple of realtors who come…
Tag: 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.…
A mid-year update on Georgia’s banking crisis
The FDIC apparently took the holiday weekend off: no banks were closed yesterday in the United States. With half of 2011 gone, here’s a little data from the “state stress level” compiled by surferdude808 and available here on Calculated Risk:…
Here we go again: another Georgia bank failure
Another Georgia bank failed today, a regular Friday routine of the last couple of years. More banks have failed in Georgia since the real estate bubble burst than in any other state. Today, Mountain Heritage Bank in Clayton, Georgia was…
State senate banking chair has property in foreclosure, and other commercial real estate misadventures
Credit is tight, demand is weak, and the commercial property bubble burst right after the residential one did. I have followed housing issues primarily over the last few years, but the commercial market has been tough too. Take a look…
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…
Two more Georgia banks shut down by the FDIC
Two more banks in Georgia have been shut down this evening by the FDIC, Bartow Bank in Cartersville and New Horizons Bank in East Ellijay. From the press release regarding Bartow Bank: As of December 31, 2010, Bartow County Bank…
Quick update on the Georgia banking crisis
Well it’s been a quiet few weeks for the FDIC. Only three banks in the entire country were closed in March, and there hasn’t been a bank in Georgia shut down since February 18th. Every week that goes by with…
More details on Georgia banking crisis
I’ve written a number of times in this blog — and often in my column in the Savannah Morning News too — about the banking crisis in Georgia, which seems to have gotten more scrutiny from outside the state than…