5:54 am November 6, 2009, by Henry Unger
Georgia’s bank situation keeps getting worse.
Nearly one in of five of Georgia’s more than 300 banks made a list of troubled institutions at the end of the third quarter, AJC reporter Paul Donsky writes.
In all, 57 banks had high scores on a misery index known as the Texas ratio as of Sept. 30, compared to 49 in the second quarter. No other state had as many banks on the list, Donsky reports.
Many of the banks ran into trouble after making loans to home builders and subdivision developers that turned bad after the housing market imploded two years ago.
The troubles appear to be escalating at some of the hardest-hit banks as problem loans soar and capital erodes, causing their Texas ratios to climb sharply.
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