Georgia’s 187 state-based FDIC insured banks earned $2.3 billion in the first nine months of 2016, an increase of 6 percent over the same period in 2015. Total deposits, loans and assets all increased from the same quarter in 2015.
 
“We’re pleased to see continued steady growth in earnings, loans and deposits for Georgia’s banks,” said Joe Brannen, president and CEO of the Georgia Bankers Association. “The performance of our banks is reflecting the continued positive traction for the state’s economy.”
 
Here are the highlights for Georgia-based banks from the FDIC’s announced results:
 
· Year-to-date net income through September was $2.3 billion, up 6 percent from the first nine months of 2015.

· 93 percent of banks were profitable through September, up by 5 percentage points compared to the same period in 2015.

· Total assets grew by 6.9 percent compared to third quarter 2015.

· Total assets are at their highest level since 2008.

· Total loans of $217.9 billion were up 5.9 percent compared to third quarter of 2015.

· Total deposits of $248.5 billion were up 5.8 percent compared to third quarter 2015.

· Credit quality remains good with the percentage of noncurrent loans below national average.

· Capital levels across the industry are good.