A large Savannah-area bank has come out from under heightened scrutiny by federal banking regulators. The Coastal Bank's emergence from a federal consent order highlights a broader recovery in the state's banking industry. The number of late loan payments in Georgia has gone down by half since last year.
Two-thirds of the Georgia’s banks had improved earnings in 2010 and fewer institutions operated in the red, according to the fourth-quarter banking profile from the Federal Deposit Insurance Corporation. Georgia banks lost $1.6 billion in 2010, less the half their losses in 2009. But nationwide, banks made more than $87 billion altogether last year.