Local (Watkinsville) Banks include Oconee State Bank, North Georgia Bank, First American Bank & Trust, Athens First Bank & Trust, Sun Trust Bank…………. It is obvious that deposits are flowing in and out of the various banks as a result of depositors’ angst.

AVOC

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November 14, 2010

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Local Banks and Troubled Asset Ratios – Part 1

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By Wendell Dawson, Editor, AVOC, Inc

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Banks are still struggling.   Georgia has the most bank closings of any state.   Locally, banks have not been immune from the financial stress.   American University School of Communication has an Investigative Reporting Workshop and has developed extensive information on banks all over the country.

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Of banks with Watkinsville addresses, two received Tarp Money: AFBT, owned by Synovus, and SunTrust Bank.   The other three are owned by local stockholders:Oconee State Bank, North Georgia Bank and First American Bank and Trust.

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A review of the financial details of the banks indicates some banks are doing better than others.   Oconee State Bank has shown some progress in the last year but still has a long climb.   North Georgia Bank has the most challenges of the local banks.    First American Bank and Trust is healthy and from June 2009 to June 2010 showed tremendous growth in deposits and assets.   It is obvious that deposits are flowing in and out of the various banks as a result of depositors’ angst.  

INVESTIGATIVE Reporting Workshop

American University School of Communication

http://banktracker.investigativereportingworkshop.org/banks/georgia/

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Oconee State Bank – Troubled Asset Ratio -6-10

http://banktracker.investigativereportingworkshop.org/banks/georgia/watkinsville/oconee-state-bank/

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FINANCIAL DETAILS FOR OCONEE STATE BANK

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North Georgia Bank -Headquartered in Watkinsville, GA - The troubled asset ratio - 6.10

http://banktracker.investigativereportingworkshop.org/banks/georgia/watkinsville/north-georgia-bank/

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FINANCIAL DETAILS FOR NORTH GEORGIA BANK, WATKINSVILLE, GEORGIA