Business

Atlanta Business Chronicle Reporter On Georgia’s Banks

Grace Donnelly, Reporter Atlanta Business Chronicle.
Grace Donnelly, Reporter Atlanta Business Chronicle.
Credit Grace Donnelly

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.

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