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The Biz Beat

Power Breakfast: Georgia bank failures, United Way, stimulus, health care

5:49 am September 2, 2009, by Henry Unger

We’re No. 1 and No. 4.

While Georgia has been tops among states in bank failures over the past year, new figures show that we’re No. 4 in how much the failures have cost the Federal Insurance Deposit Corp.

AJC reporter Paul Donsky writes that California’s 14 bank failures have cost the FDIC $15.3 billion — tops in money. Florida banks are No. 2 in tapping the insurance fund, while Texas banks are No. 3.

Georgia’s 23 failures have cost an estimated $3.9 biillion.

Donsky writes that most Georgia failures have involved small lenders with a relatively shallow pool of troubled loans that need to be covered by the FDIC.

Also in the AJC:

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