By Paul Donsky

The Atlanta Journal-Constitution

4:55 p.m. Thursday, August 27, 2009

The number of Georgia banks losing money shot up in the second quarter as the state’s financial industry continued to be hammered by the recession and real estate slump.

Of Georgia’s 324 banks, 57 percent posted losses in the quarter, up from 45 percent in the first quarter and 34 percent a year ago, according to figures released Thursday by the Federal Deposit Insurance Corp.

Georgia banks have lost $1.8 billion so far this year as lenders struggle in the wake of the housing market’s nosedive, especially around metro Atlanta. More pain looms, as the state’s banks reported $10 billion in loans they’ve given up hopes of collecting on.

Georgia leads the nation in banking failures this year with 18.

Banking industry leaders found a few “green shoots” amid the wreckage. Capital levels have begun to creep up, while the amount of loans in the early stages of delinquency fell 12 percent to $3.7 billion in the second quarter.

“It’s clearly not a surprise that some numbers overall deteriorated, but there were some positive numbers,” said Joe Brannen, president of the Georgia Bankers Association. “We’re still a reflection of the Georgia economy. The economy clearly has a ways to go yet. Unemployment numbers are still high.”

Earnings were meager in the quarter, with only six banks earning more than $1 million, down from 28 a year ago.

Topping Georgia’s list: United Bank, headquarted 50 miles south of Atlanta in Zebulon, which earned $2 million. Brand Banking Co. of Lawrenceville was right behind, earning $1.9 million.

Bringing up the rear was SunTrust, the state’s largest bank, which lost $166 million, and the Alpharetta-based Bank of North Georgia, which lost $75 million. Bank of North Georgia is a subsidiary of Columbus-based Synovus, the state’s second-largest banking company.

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By Paul Donsky

The Atlanta Journal-Constitution

4:55 p.m. Thursday, August 27, 2009

The number of Georgia banks losing money shot up in the second quarter as the state’s financial industry continued to be hammered by the recession and real estate slump.

Of Georgia’s 324 banks, 57 percent posted losses in the quarter, up from 45 percent in the first quarter and 34 percent a year ago, according to figures released Thursday by the Federal Deposit Insurance Corp.

Georgia banks have lost $1.8 billion so far this year as lenders struggle in the wake of the housing market’s nosedive, especially around metro Atlanta. More pain looms, as the state’s banks reported $10 billion in loans they’ve given up hopes of collecting on.

Georgia leads the nation in banking failures this year with 18.

Banking industry leaders found a few “green shoots” amid the wreckage. Capital levels have begun to creep up, while the amount of loans in the early stages of delinquency fell 12 percent to $3.7 billion in the second quarter.

“It’s clearly not a surprise that some numbers overall deteriorated, but there were some positive numbers,” said Joe Brannen, president of the Georgia Bankers Association. “We’re still a reflection of the Georgia economy. The economy clearly has a ways to go yet. Unemployment numbers are still high.”

Earnings were meager in the quarter, with only six banks earning more than $1 million, down from 28 a year ago.

Topping Georgia’s list: United Bank, headquarted 50 miles south of Atlanta in Zebulon, which earned $2 million. Brand Banking Co. of Lawrenceville was right behind, earning $1.9 million.

Bringing up the rear was SunTrust, the state’s largest bank, which lost $166 million, and the Alpharetta-based Bank of North Georgia, which lost $75 million. Bank of North Georgia is a subsidiary of Columbus-based Synovus, the state’s second-largest banking company.

Posted via web from kimbianco’s posterous

Beginning January 8, 2008, the Department of Watershed Management offered a Toilet Retrofit Rebate Program to DeKalb County water customers whose homes were built prior to 1993. This program will assist customers in replacing their old toilets with efficient water-conserving toilets to conserve water and money. Toilets being replaced must have been installed prior to 1993.

There are two toilet rebate options. The first is a $50.00 rebate for the purchase of any approved 1.6 gallons per flush toilet on the list of eligible toilets. The second option is $100.00 rebate for the purchase of any approved 1.28 gallons per flush toilet on the list of eligible toilets (at www.dekalbwatershed.com). Customers will only be allowed to apply for a maximum of three toilets per household.