Local Village Of America News
McIntosh Now Tops List of Troubled Banks in Georgia
Peoples Community National Bank reverses trend.
by D. Tim Clark
February 4, 2010
Less than a week after Carroll County, Georgia lost First National Bank of Georgia and gained Community & Southern Bank, another local bank appears to be in trouble.
According to an article published this evening in the Atlanta Journal Constitution (AJC), Carrollton-based McIntosh Commercial Bank's Texas Ratio climbed from 592 to 884 during the fourth quarter of 2009. This measure places McIntosh at the top of a still-growing list of troubled Georgia banks, not a good place to be.
The Texas Ratio
Recall several months ago, local banking executive Rocky Lipham shared that the Texas Ratio represents a bank's non-performing assets, divided by the bank's capital plus the bank's reserves.
Also recall according to Wikipedia.com, the Texas Ratio is a "measure of a bank's credit troubles."
Peoples Community National Bank improved
At the same time McIntosh's troubles mounted, Bremen-based Peoples Community National Bank (PCNB) improved their position.
About a month ago, The Information Age reported Peoples Community National Bank exceeded their recapitalization goal of $6 million by more than $900,000. The bank’s recapitalization was completed on December 30, 2009. The recapitalization was accomplished with the help of existing shareholders, increased investment from the directors and management, and new investors that recognized the opportunities for PCNB given the current state of the financial services industry.
While still classified as a troubled bank, PCNB successfully lowered their Texas Ratio from 197 to 123 during the fourth quarter of 2009, very good news indeed.
This story is published on the following community web sites:
West Georgia | Carroll County | Bowdon | Carrollton | Mt. Zion | Roopville | Temple | Villa Rica | Whitesburg
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