Georgia Banks Post $694M Loss, but Improve
Press release from the issuing company
Wednesday, September 1st, 2010
Georgia’s banks posted an 11 percent improvement in earnings in the second quarter.
According to data published Tuesday by the Federal Deposit Insurance Corp., Georgia’s banks had a collective net loss of $694.1 million in the second quarter, compared with a net loss of $785.2 million in the second quarter of 2009. It marked the sixth quarter in a row Georgia’s banks failed to be profitable as an industry.
Some 49.1 percent of all Georgia banks were unprofitable in the second quarter, compared with 57.7 percent in the second quarter of 2009.
