Georgia had the most failed banks in the US over the past 12 months (Oct 2010 - Sep-2011)
|
State
|
# of Failed Banks
|
|
Georgia
|
26
|
|
Florida
|
16
|
|
Illinois
|
8
|
|
California
|
6
|
|
Colorado
|
5
|
|
Washington
|
5
|
|
Arizona
|
4
|
|
Wisconsin
|
4
|
|
Kansas
|
3
|
|
Michigan
|
3
|
|
Pennsylvania
|
3
|
|
South Carolina
|
3
|
104
“Failed” Banks were closed in the US by the FDIC over the past year (Oct 2010 –
Sep 2011). 26 Banks in the State of Georgia were closed by the FDIC during that
time period. Typically, two chosen banks for each month were determined to be a
“failed” bank and were acquired by a non-failed FDIC bank. Two banks competed
over the past year for the largest share of Georgia acquisitions. Ameris Bank
and Bank of the Ozarks both bought 4 Georgia banks in the past 12 months. The
other 18 banks that failed in Georgia over the last year were equally
distributed by the FDIC to acquiring banks such as GA Commerce Bank, Heritage
Bank of the South, Hamilton State Bank, and CertusBank, among others. The FDIC
updates their list weekly: http://www.fdic.gov/bank/individual/failed/banklist.html
|
Bank Name
|
City
|
State
|
CERT #
|
Acquiring Institution
|
Closing Date
|
Updated Date
|
|
26-CreekSide Bank
|
Woodstock
|
GA
|
58226
|
Georgia Commerce Bank
|
2-Sep-11
|
8-Sep-11
|
|
25-Patriot Bank of
Georgia
|
Cumming
|
GA
|
58273
|
Georgia Commerce Bank
|
2-Sep-11
|
8-Sep-11
|
|
24-First Southern
National Bank
|
Statesboro
|
GA
|
57239
|
Heritage Bank of the
South
|
19-Aug-11
|
25-Aug-11
|
|
23-High Trust Bank
|
Stockbridge
|
GA
|
19554
|
Ameris Bank
|
15-Jul-11
|
4-Aug-11
|
|
22-One Georgia Bank
|
Atlanta
|
GA
|
58238
|
Ameris Bank
|
15-Jul-11
|
5-Aug-11
|
|
21-Mountain Heritage
Bank
|
Clayton
|
GA
|
57593
|
First American Bank
and Trust Company
|
24-Jun-11
|
14-Sep-11
|
|
20-McIntosh State Bank
|
Jackson
|
GA
|
19237
|
Hamilton State Bank
|
17-Jun-11
|
14-Sep-11
|
|
19-First Georgia
Banking Company
|
Franklin
|
GA
|
57647
|
CertusBank, National
Association
|
20-May-11
|
14-Sep-11
|
|
18-Atlantic Southern
Bank
|
Macon
|
GA
|
57213
|
CertusBank, National
Association
|
20-May-11
|
14-Sep-11
|
|
17-The Park Avenue
Bank
|
Valdosta
|
GA
|
19797
|
Bank of the Ozarks
|
29-Apr-11
|
14-Sep-11
|
|
16-First Choice
Community Bank
|
Dallas
|
GA
|
58539
|
Bank of the Ozarks
|
29-Apr-11
|
14-Sep-11
|
|
15-New Horizons Bank
|
East Ellijay
|
GA
|
57705
|
Citizens South Bank
|
15-Apr-11
|
14-Sep-11
|
|
14-Bartow County Bank
|
Cartersville
|
GA
|
21495
|
Hamilton State Bank
|
15-Apr-11
|
14-Sep-11
|
|
13-Citizens Bank of
Effingham
|
Springfield
|
GA
|
34601
|
Heritage Bank of the
South
|
18-Feb-11
|
27-Apr-11
|
|
12-Habersham Bank
|
Clarkesville
|
GA
|
151
|
SCBT National
Association
|
18-Feb-11
|
27-Apr-11
|
|
11-North Georgia Bank
|
Watkinsville
|
GA
|
35242
|
BankSouth
|
4-Feb-11
|
27-Apr-11
|
|
10-American Trust Bank
|
Roswell
|
GA
|
57432
|
Renasant Bank
|
4-Feb-11
|
27-Apr-11
|
|
9-Enterprise Banking
Company
|
McDonough
|
GA
|
19758
|
No Acquirer
|
21-Jan-11
|
27-Apr-11
|
|
8-Oglethorpe Bank
|
Brunswick
|
GA
|
57440
|
Bank of the Ozarks
|
14-Jan-11
|
27-Apr-11
|
|
7-United Americas
Bank, N.A.
|
Atlanta
|
GA
|
35065
|
State Bank and Trust
Company
|
17-Dec-10
|
8-Mar-11
|
|
6-Appalachian
Community Bank, FSB
|
McCaysville
|
GA
|
58495
|
Peoples Bank of East
Tennessee
|
17-Dec-10
|
8-Mar-11
|
|
5-Chestatee State Bank
|
Dawsonville
|
GA
|
34578
|
Bank of the Ozarks
|
17-Dec-10
|
8-Mar-11
|
|
4-Darby Bank &
Trust Co.
|
Vidalia
|
GA
|
14580
|
Ameris Bank
|
12-Nov-10
|
8-Mar-11
|
|
3-Tifton Banking
Company
|
Tifton
|
GA
|
57831
|
Ameris Bank
|
12-Nov-10
|
8-Mar-11
|
|
2-The First National
Bank of Barnesville
|
Barnesville
|
GA
|
2119
|
United Bank
|
22-Oct-10
|
8-Mar-11
|
|
1-The Gordon Bank
|
Gordon
|
GA
|
33904
|
Morris Bank
|
22-Oct-10
|
4-Aug-11
|
Who Is Actually Fighting?
Is there a fight? Most bankers with failing portfolios don't want to be bankers anymore. They are taking the punches and leaving the industry. As the banking margins get tighter along with US regulations being more strict than the EU, failures will continue to occur. Waiting the market out as it corrects itself is an attitude that is perpetuating a 2nd dip we are all beginning to feel, including the big banks that have survived.
Ameris
Bank (http://www.amerisbank.com/)
was the largest FDIC acquiring bank over the last 12 months. 4 of the 5 failed
banks it acquired in the last year were in the State of Georgia. Ameris had
more than $2billion of deposits in June of 2010, $1.25billion of that was in
the Georgia market with the balance outside of Georgia. Ameris had less than a
1% market share of Georgia then, but has increased it’s share through the 4
acquisitions over the past year. Suntrust (GA HQ) had the largest market share
in Georgia in June of 2010 when it was at 16.63%, while Wells Fargo (SD HQ) was
in a close second at 15.15% of the Georgia market. Bank of America (NC HQ) took
an 11.20% share while Synovus (GA HQ) was at 7.6% and BB&T (NC HQ) was at
3.43%.
This
can be viewed as a continuance of bad news for Georgia or a chosen perception
can be that Georgia is at the forefront of bank restructuring in the US. It
seems there have not been any failed banks in the State of New York over the
past year along with other states like Texas that remain somewhat impervious to
the economic woes of most US bankers. As assets are written-down and
transferred, new banks emerge as the strong companies that are prepared for the
next economic cycle. GA banks are changing hands and consolidating. These moves
don't effect personal bank accounts other than potential fee changes, but they
do drastically effect commercial banking relationships.
Private
Equity groups are gaining continued relevance due to the stagnant availablity
of debt and credit products at FDIC institutions. As FDIC banks transform into
depositories as opposed to their historical role as retail establishments
selling financial products. If a bank has a Capital side to their structure
then there are private equity opportunities that can be married with that bank.
Otherwise, historical EBIDTA rules commercial banking. There is more cash
available in the US than there was 10 years ago, but the rules for qualifying
for the cash have become more complex and strict.
