Georgia's banks post gains in loans, deposits, assets for 2020

Marietta Daily Journal, Ga.
·2 min read

Feb. 23—The Georgia Bankers Association reports that Georgia's 157 FDIC-insured banks closed out 2020 with increased loans, deposits and assets at year-end compared to 2019.

According the latest FDIC data, loans were up 10%, deposits grew by 22%, and assets increased by 17% in 2020. Cumulatively, the state's banks earned $1.3 billion during the year, which was down 30% from the previous year, but declined less than the 36.5% for banks nationally.

Fourth-quarter performance indicated continued momentum in net income from the effects of the pandemic earlier in the year. Fourth-quarter net income for Georgia-based banks was up by 43% compared to fourth-quarter 2019, and up 37% compared to the prior quarter's net income. Bank loan customers also showed resiliency, with noncurrent loans decreasing slightly for the year and compared to the prior quarter.

Year-end 2020 vs. year-end 2019

— Total loans and leases up 10.5 billion, up 10%.

— Total deposits up $27.1 billion, up 22%.

— Total assets up $25.4 billion, up 17%.

— Net income of $1.3 billion, down $563 million, down 30%.

— Noncurrent loans decreased slightly and are about half the national average.

— 94% of banks profitable, down only slightly from 95%.

— Capital levels remain strong.

Fourth-quarter 2020 vs. fourth-quarter 2019

— Net income of $693 million, up 43% compared to same period in 2019.

— Noncurrent loans decreased slightly.

Fourth-quarter 2020 vs. third-quarter 2020

— Net income up $188.5 million, up 37% compared to third-quarter 2020.

— Total deposits grew by about $7 billion, up 5%.

— Total loans and leases declined by $3.9 billion, down 3%.

Georgia-based FDIC defined community banks (150 institutions), year-end 2020 vs. year end 2019

— Total loans and leases up 17%.

— Total deposits up 24%.

— Total assets up 24%.

— Net income down 1%.

— Noncurrent loans down 32%.