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Nov. 26, 2019

Georgia Banks Earn $3.34 Billion Through September

Georgiaís 163 state-based FDIC insured banks earned $3.34 billion in the first nine months of the year, an increase of 2.5% over the same period in 2018. Loans were up 16.6%, deposits increased by 12.4%, and total assets grew 16.2% compared to the same period in 2018. Credit quality remained good, with noncurrent loans trending slightly lower, and the percentage of loans charged off about 50% lower than the national average.
"The performance of Georgiaís banks continues to keep pace with the overall strength of the stateís economy," said Joe Brannen, GBA president and CEO. "Itís always encouraging to see loans and deposits grow, as that shows our banks are doing a good job of meeting the credit needs in our communities and remain trusted protectors of family finances."
This is likely the final quarter in which the FDICís data about performance of banks headquartered in Georgia will include information from SunTrust Bank. The bankís merger with BB&T is scheduled to close Dec. 6, so for year end, its information will be consolidated into the new Truist reporting to be counted in North Carolina. So, the stateís totals for deposits, loans and other areas will be significantly less going forward. Of course, thatís just a reflection of reporting methodology FDIC uses. There are 48 other banks headquartered outside the state doing business in Georgia. They have significant loans, deposits, branches and employees serving Georgia families and businesses, but the data for those banks donít flow into FDICís quarterly stats for Georgia. The only state-level report generated by FDIC showing all banks doing business in a particular state is the annual Summary of Deposits report as of June 30. This yearís report showed 213 banks were doing business in Georgia and held over $256 billion of in-market deposits. Georgia remains a well-banked state; and as a whole, the FDIC-insured banks doing business here are performing well.
Nationally, "Overall, the banking industry reported strong loan growth, and the number of Ďproblem banksí remained low," said FDIC Chairman Jelena McWilliams said in the agencyís Quarterly Banking Profile release.

Access to Capital Task Force Meets Again

We hope you saw the extensive coverage we gave the first meeting of the Access to Capital Task Force thatís part of Governor Brian Kempís Georgians First Commission. GBA is pleased to be represented by our elected Chairman, Chuck Copeland, First National Bank of Griffin, and President and CEO Joe Brannen. Other GBA members of the task force are Parrish Clark, Guardian Bank, Valdosta, and Grace Fricks, Access to Capital for Entrepreneurs (ACE), Cleveland. The task force has been asked to mostly focus on the barriers small businesses, entrepreneurs and startups face in getting loans, investments or other sources of funds from traditional lenders, venture capital firms and other types of lenders such as Community Development Financial Institutions. Each of these entities is represented on the task force. The task force held its second meeting this week to review a survey among the task force used to rank ideas considered so far. High among the rankings were recommendations to enhance the knowledge of all the resources currently available, tweak existing and potential new incentives like state tax credits to focus on targeted demographics or geographies, and look at ways to enhance the role of community development funds. Read our recommendations and get more information here.

House Rules Committee Chairman Jay Powell Dies

We were saddened to learn today of the unexpected and untimely death of longtime state representative Jay Powell (R-Camilla). Powell represented portions of Colquitt, Decatur and Mitchell Counties in southwest Georgia and was the chairman of the powerful House Rules Committee. Many of our members knew Powell from his years of service as a lawyer, bank board member, mayor and former elected chair of the Georgia Municipal Association, and his longtime service as chairman of the House Ways and Means Committee before becoming Rules Committee chairman. Powell spoke at GBAís Economic and Legislative Forum in January highlighting the work of the House Rural Development Council which he co-chaired. "Jayís passion for the State of Georgia and especially the parts of Georgia that need help economically will be what heís remembered for most. He understood how the stateís tax structure could be used to attract business, grow jobs and be fair to individuals. As an integral part of the House leadership, he was instrumental in making sure all voices were heard as priorities were set. We will miss his sage counsel, advice and friendship," said GBA President and CEO Joe Brannen. Many state leaders issued statements about their work with Powell, which you can read here.
FBI photo

Crime and Punishment
Three Gunmen involved in Woodbury Bank Robbery Sentenced to Federal Prison

Three gunmen who terrorized employees of United Bank in Woodbury have each been sentenced to at least a decade in federal prison. On June 28, 2018, a vehicle dropped off Antavious Bray, Derrick Scott and DíAsis Sheffield at the bank. Armed with handguns and a semi-automatic rifle, the three masked men threatened employees, forced their way into the vault and filled their backpacks with cash. Read about their arrests and get more details here.

Last call! GBA Credit Conference - Dec. 5-6, Atlanta

The 2019 GBA Credit Conference is coming up quickly, Dec. 5-6, at the Renaissance Waverly Hotel in Atlanta, but there is still time to sign up or bring someone from your organization. This year, the GBA Credit Committee has challenged attendees to bring an up-and-comer from their banks to take part in leadership training and benefit from the great agenda. See the all-star speaker lineup and register here. Featured topics include housing and CRE updates, an ag economy update from Georgia Agriculture Commissioner Gary Black, credit quality trends and an economic update from Roger Tutterow.

Make Plans Today to Attend 2020 GBA Conferences and Schools

Be sure to save the date and register for these area-specific conferences coming up:
And 2020 schools: