It’s been almost four years since Georgia saw a bank fail.
Compare that to a decade ago, when 25 banks were forced out of business in just one year.
With the pandemic creating an ugly economic picture, some may wonder if Georgia in for a repeat?
WABE’s host of “All Things Considered,” Jim Burress, asked Grace Donnelly, who writes about banking in this week’s Atlanta Business Chronicle.
“We’ve seen a lot of consolidation among the banking industry,” Donnelly said. “There’s been a lot of big mergers and acquisitions, so some of that activity has given banks more to work with.”
Donnelly said many banks have been giving some people and businesses 90-day deferrals on their loans. She added the next quarter is a very important time for the banks in Georgia to tell whether things will improve or get worse.