Georgia Banks See More Growth
Georgia Bankers Association
Georgia’s banks keep getting bigger.
The Federal Deposit Insurance Corporation reports banks in the Peach State collected $716 million in profit during the second quarter of 2013.
That’s a 64% hike compared to the second quarter of 2012.
An audio version of this story.
“The increase in profitability for Georgia’s banks has been helped by the improving economy. It’s been helped by family and business finances getting better. There is some loan growth out there for some institutions,” says David Oliver with the Georgia Bankers Association.
This federal data is good on various levels.
“And so what you see is profitable banks, really relates to a better and stronger economy for Georgia citizens and Georgia businesses,” says Oliver.
Nationally, banks boasted a $42.2 billion dollar rise in profits during the second quarter, a 23% increase from the same time-frame last year.
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