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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Georgia Banks Bounce Back

Interested in more on United Community Banks? See TheStreet Ratings' report card for this stock.

Among Georgia's largest 10 banks, BB&T Financial FSB continues to post the strongest earnings results, with a first-quarter net income of 45.92 million and an ROA of 6.96%.

With $2.7 billion in assets, the thrift is a relatively small subsidiary of BB&T Corp. (BBT) of Winston-Salem, N.C., but contributes very solid profits by focusing on credit card lending, with a subsidiary specializing in issuing retail gift certificates, as well as a wholesale mortgage lending unit.

Interested in more on BB&T? See TheStreet Ratings' report card for this stock.

Strongest Georgia Banks and Thrifts

Based on fourth-quarter financial reports, only nine out of 236 Georgia institutions were assigned "recommended" ratings of B-plus or above by Weiss Ratings:

The list is sorted by rating, and then alphabetically by institution name.

All of the Georgia banks and thrifts on Weiss's recommended list were strongly capitalized as of March 31, with total risk-based capital ratios exceeding 15%, while all but two had total risk-based capital ratios exceeding 20% or twice the level most institutions need to be considered well-capitalized by regulators.

Thorough Bank Failure Coverage

There have been four bank failures in Georgia this year, following 23 closures in 2011, 21 in 2010, and 25 in 2009.

Since the current wave of bank and thrift closures began in 2008, Georgia has seen 78 institutions closed by regulators, which is the most for any state, and is trailed by Florida, with 61 failures, Illinois with 50, and California, with 39 institutions shut down since the beginning of 2008.

All 423 U.S. bank and thrift closures since the beginning of 2008 are detailed in TheStreet's interactive bank failure map:

The bank failure map is color-coded, with the states having the greatest number of failures highlighted in dark gray, and states with no failures in light green. By moving your mouse over a state you can see its combined 2008-2011 totals. Then click the state to open a detailed map pinpointing the locations and providing additional information for each bank failure.

-- Written by Philip van Doorn in Jupiter, Fla.

To contact the writer, click here: Philip van Doorn.

To follow the writer on Twitter, go to http://twitter.com/PhilipvanDoorn

Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for TheStreet.com Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.
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