Print

4 Ga. banks told to improve finances, operations

By The Associated Press
Posted 2:09PM on Saturday 1st May 2010 ( 14 years ago )
ATLANTA - State and federal regulators have ordered four additional small Georgia banks to improve their finances and operations.

The Atlanta Journal-Constitution reports that the four banks are One Georgia Bank in Atlanta, Sunrise Bank of Atlanta, Northwest Bank & Trust in Acworth and Bank of Newington in Screven County.

An announcement from the Federal Deposit Insurance Corp. and Georgia's Department of Banking and Finance said officials with the banks had signed "consent orders." The orders are not admissions or denials of wrongdoing and are not bank failures. The orders generally require banks to take actions such as raising reserves or cutting dividend payments and bonuses.

Veteran banking consultant John Kline of Kline & Associates in Decatur told the newspaper the consent orders are a reminder of the struggles facing banks.

http://accesswdun.com/article/2010/5/213882

© Copyright 2015 AccessNorthGa.com All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.