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Tuesday, July 26, 2011 - 11:12am

Georgia Bank Ranks Number One

Georgia leads the nation in failed banks. One Macon financial institution is earning high marks for how it does business.

State Bank and Trust ranks number one in the industry’s Bank Director Magazine. Financial analysts rank banks on assets, capital, and profitability.

In the last two years State Bank raised 300-million dollars to buy ten failed institutions. State Bank CEO Joe Evans says Georgia needs healthy banks to lend money so the economy can recover.

“I see us steadily making progress in the resolution of these problems. Now, the magnitude of these problems was sufficiently great that I think it’s going to take a couple more years.”

State Bank has nearly 2.7 billion dollars in assets and bank branches in Atlanta and Middle Georgia.