ATLANTA (TheStreet) -- Georgia has the unfortunate distinction of leading the U.S. with 21 bank failures this year and last. And many other banks in the state are suffering from very high levels of bad loans.
Most of the failed Georgia institutions made outsized bets during the real estate boom on residential and commercial construction projects in the Atlanta area. Since the quality of commercial real estate loans is declining sharply as the later stages of the banking crisis unfold, there are dozens of banks and thrifts in trouble.
Strongest Georgia Banks and Thrifts
Based on March 31 financial reports, 24 of Georgia's 322 banks and thrifts were rated B-plus (good) or above, down from 33 the previous quarter.
Largest Georgia InstitutionsThe following table includes capital, earnings and asset quality for the 10 largest Georgia banks and thrifts.
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