Georgia banks appear to be turning a corner. A report shows, Georgia banks are profitable for the first time in three years. The FDIC shows earnings for Georgia banks improved by about $2.5 billion last year over the previous one.
Federal banking regulators are telling The Savannah Bank it needs to reduce its troubled assets. The Office of the Comptroller of the Currency has given the bank its lightest possible action, letting bank officials dictate their own terms for reducing delinquent loans and reposessions. The move speaks to how far Georgia banks have to recover from the Great Recession.
A slowly recovering economy and more realistic expectations are giving Georgia consumers a bit more confidence this spring. In a survey from Georgia Southern University, 61 percent of people think the economy is the same or better than last year. They also feel more secure in their jobs and feel better off financially than a year ago.