Bank failures scramble Atlanta banking landscape

By PAUL DONSKY

The Atlanta Journal-Constitution

The lending landscape in metro Atlanta has changed dramatically since Georgia's banking crisis erupted in the summer of 2008.

Four of the 10 largest banks based in Atlanta have since failed, including the Sept. 25 demise of Georgian Bank. Two others are reeling from bad real estate bets.

Atlanta bank consultant Byron Richardson said the shake-up offers a prime opportunity for banks to pick up market share.

"The community banks have an opportunity to capitalize on that, provided they have the financial strength to take advantage of the vacuum in the market that's being created," he said.

A nation-leading 24 banks have failed in Georgia since August 2008, most of them small lenders in the Atlanta suburbs.

Top 10 banks based in metro Atlanta as of June 30, 2008, and their status now:

Bank --- Location --- Asset size* --- Status

SunTrust --- Atlanta --- $171.5 billion --- open

Silverton --- Atlanta --- $2.9 billion --- failed, 5/09

Georgian --- Atlanta --- $2.2 billion --- failed, 9/09

Fidelity --- Norcross --- $1.8 billion --- open

Integrity --- Alpharetta --- $1.1 billion --- failed, 8/09

Brand Banking Co. --- Lawrenceville --- $1.1 billion --- open

Omni --- Atlanta --- $1 billion --- failed, 3/09

Buckhead Community --- Atlanta --- $920 million --- open, under federal order to boost capital

First Nat'l Bank of Ga. --- Carrollton --- $906 million --- open, under federal regulatory agreement

First State Bank --- Carrollton --- $680 million --- On Texas ration list of banks with problem loans

Source: Staff research, FDIC