First Georgia Banking Company

Headquarters

101 Main Street
Franklin, GA 30217
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 1.05% →
1-Year CD N.A. 0.95% →
2-Year CD N.A. 1.05% →
5-Year CD N.A. 1.30% →
30-Year Mortgage N.A. 2.80% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

First Georgia Banking Company is an FDIC insured institution located in Franklin, GA. It was founded in 2003 and has approximately $0.73 billion in assets.

CertusBank, National Association, Easley, South Carolina, acquired the banking operations, including all the deposits, of Atlantic Southern Bank, Macon, Georgia, and First Georgia Banking Company, Franklin, Georgia. The two banks were closed May 20, 2011 by the Georgia Department of Banking and Finance, which appointed the FDIC as receiver for each institution. To protect depositors, the Federal Deposit Insurance Corporation (FDIC) entered into purchase and assumption agreements with CertusBank, N.A.

FDIC Insured Yes
FDIC Certificate # 57647
Date Established 2003
Assets $ 730.98 million
Loans $ 475.45 million
Deposits $ 702.23 million
Capital $ 5.77 million
 

For a more detailed analysis of First Georgia Banking Company's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - September 20, 2020

Your Current Location: Virginia, VA 20146


Loan Rates - September 20, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for First Georgia Banking Company

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Virginia 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
2.815% 2.750% 0.88 $2,118 $1,021 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.990 %
$0 Learn More
More Info

Note to First Georgia Banking Company
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Branches

First Georgia Banking Company branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


First Georgia Banking Company Locations


Financial Details

First Georgia Banking Company Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of First Georgia Banking Company. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
First Georgia Banking Company U.S. Bank Average
424.78% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2020, First Georgia Banking Company had $50,637,000 in non-current loans and $37,135,000 in owned real estate. To cover these potential losses it had $5,767,000 in equity and $14,896,000 in loans loss reserves. That gives it a Texas Ratio of 424.78%.

Return on Equity
First Georgia Banking Company U.S. Bank Average
-141.52% 7.80%

First Georgia Banking Company has a Return on Equity of -141.52% versus the BestCashCow average of 7.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
First Georgia Banking Company U.S. Bank Average
0.79% 12.68%

First Georgia Banking Company has a Capitalization of 0.79% versus the BestCashCow average of 12.68. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

First Georgia Banking Company Balance Sheet Analysis

As of March 31, 2011, First Georgia Banking Company had assets of $730,981,000, loans of $475,448,000, and deposits of $702,231,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2020
ASSETS
Cash & Balances due from depository institutions N.A.
Interest-bearing balances N.A.
Total securities N.A.
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 475.45 million
Loan loss allowance $ 14.90 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 37.14 million
Goodwill and other intangibles N.A.
All other assets N.A.
     Total Assets N.A.
LIABILITIES
Total deposits $ 702.23 million
      Interest-bearing deposits N.A.
      Deposits held in domestic offices N.A.
      % insured (estimated) 0.00%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities N.A.
      Total Liabilities N.A.
      Shareholders’ Equity $ 730.98 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income N.A.
Total Interest Expense N.A.
Net interest income N.A.
Provision for loan and lease losses N.A.
Total non interest income N.A.
Total non interest expense N.A.
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

The top three loan types in First Georgia Banking Company’s loan portfolio are 1-4 Family Residential Loans, Multifamily Mortgages, and Credit Card Loans.

Compared to other banks, First Georgia Banking Company’s loan portfolio does not show any specific loan specialty.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 0.00
Multifamily
Mortgages
0.00
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 0.00
Construction and Development Loans 0.00
Commercial Real Estate 0.00
Commercial and Industrial Loans 0.00
Farm Loans 0.00

Frequently Asked Questions About First Georgia Banking Company

Branches and Savings

Is First Georgia Banking Company FDIC insured?

Yes. It is covered under FDIC Certificate #57647.

Why does First Georgia Banking Company pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are First Georgia Banking Company CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is First Georgia Banking Company a commercial bank?

Yes

Where are First Georgia Banking Company locations?

See branch locations nearby.

Is First Georgia Banking Company open on Saturdays?

Is First Georgia Banking Company open on Sundays?

What time does First Georgia Banking Company open?

What time does First Georgia Banking Company close?

Are First Georgia Banking Company ATMs Open 24/7?

Do First Georgia Banking Company ATMs accept cash deposits?

Can First Georgia Banking Company customers use other ATMs?

Do First Georgia Banking Company branches have notaries?

Will First Georgia Banking Company notarize my document?

What address for First Georgia Banking Company should I put for incoming ACH transfers?

Will the First Georgia Banking Company branch print checks?

Do First Georgia Banking Company checks expire?

Does First Georgia Banking Company require US citizenship to open account?

Can First Georgia Banking Company close my account?

Does First Georgia Banking Company Report to credit bureaus?

Does First Georgia Banking Company Use Equifax?

What is First Georgia Banking Company's ACH Routing Number?

What is First Georgia Banking Company's SWIFT code?

Products

Does First Georgia Banking Company offer mortgages?

Compare mortgage rates here.

Does First Georgia Banking Company offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does First Georgia Banking Company offer personal loans?

Compare personal loan rates here.

Does First Georgia Banking Company offer student loans?

Will First Georgia Banking Company cash a check?

Will First Georgia Banking Company redeem a savings bond?

Does First Georgia Banking Company cash savings bonds?

Will First Georgia Banking Company cash money orders?

Can First Georgia Banking Company issue a money order?

Does First Georgia Banking Company do currency exchange?

Background on The Bank

Who owns First Georgia Banking Company?

How long has First Georgia Banking Company been around?

Can First Georgia Banking Company transfer to other banks?

Does First Georgia Banking Company have quick pay?

Does First Georgia Banking Company accept rolled coins?

Will First Georgia Banking Company accept loose change?

Where is First Georgia Banking Company headquarters?

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