Georgia Banks Post $320 Million Q3 Loss
Press release from the issuing company
Tuesday, November 30th, 2010
Georgia’s banks continued to run collectively in the red in the third quarter, but showed improvement year-over-year.
According to data published Tuesday by the Federal Deposit Insurance Corp., Georgia’s banks had a collective net loss of $1.5 billion through the third quarter, compared with a net loss of $2.6 billion through the third quarter of 2009. It marked the seventh quarter in a row Georgia’s banks failed to be profitable as an industry.
