According to recent FDIC data, Georgia's banks continue to be hammered by losses.
As of Sept. 30, Georgia's banks lost $889 million, which was up from $783 million in the second quarter, according to the FDIC. More than 55% of banks in the Peach State had losses in the third quarter, an 8% decrease from that percentage in the second quarter. Twenty-six banks have shut down in Georgia since 2008.
Meanwhile, the state's credit unions are still outpacing banks in a number of areas. In a September report, the Georgia Credit Union Affiliates said credit unions continue to offer lower interest rates, lower fees and higher rates on savings compared to banks.
As of Sept. 30, Georgia's banks lost $889 million, which was up from $783 million in the second quarter, according to the FDIC. More than 55% of banks in the Peach State had losses in the third quarter, an 8% decrease from that percentage in the second quarter. Twenty-six banks have shut down in Georgia since 2008.
Meanwhile, the state's credit unions are still outpacing banks in a number of areas. In a September report, the Georgia Credit Union Affiliates said credit unions continue to offer lower interest rates, lower fees and higher rates on savings compared to banks.
