Georgia banks earned 13.1 percent more last year than in 2014.
The state's 194 state-based banks insured by the Federal Deposit Insurance Corp. earned $2.9 billion in 2015, an increase over 2014 total earnings, according to a news release. Total deposits, loans and assets all increased over year-end 2014 results.
Total loans of $208.8 billion were up 2.7 percent, the highest level since year-end 2008; total deposits of $239.7 billion were up 6 percent and hit a record level; and total assets of $289.3 billion hit their highest level since 2008. The value of past-due loans decreased 13.9 percent for the year.
"Our state's banks had a productive year in 2015," Joe Brannen, GBA president and CEO, said in the release. "The statewide results show Georgia's banks have lower noncurrent loans, a better average net interest margin and lower amounts set aside for loan losses than the national averages. These are all encouraging signs for our banks and the state economy."
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To contact writer Linda S. Morris, call 744-4223, or follow her on Twitter@MidGaBiz.