185 banks currently operate in the state of Georgia. These are banks that are also insured by the federal deposit insurance corporation. Of this amount, 153 of these banks are headquartered in the state and therefore can be considered Georgia-based banks. Banks operating within the state had in total $166 billion of assets, $144 billion of deposits and $105 billion of loans outstanding as of this writing. Overall and in aggregate residential mortgages made up 15% of the assets managed by banks in Georgia. Further, these banks also currently employ in total 19,142 people within the state, which represents 0.2% of the population.

Density of Banks in Georgia

Banks in Georgia currently have a total of 2,161 branches located within the state. This equates to 2.0 branches per 10,000 people in Georgia.  Comparing the banks in Georgia to banks operating in other states on this measure, Georgia ranks 42nd out of 52 states and territories in terms of branches per capita.  Taking a different approach, let’s look at the physical density of branches within this state. When the total square mileage of a state is factored in, banks in Georgia had on average 3.8 branches per 100 square miles. Therefore, Georgia ranks 23rd out of 52 states and territories in terms of the most branches per square mile.

Performance of Banks in Georgia

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  • Net Interest Margin – banks in the state of Georgia are on average above the average bank’s net interest margin in the United States. This is for FDIC-insured banks only. Overall, the net interest margin for banks in Georgia is ranked 19th out of the 52 states and main territories in the United States.
  • Return on Assets – in terms of this important return metric, banks in this state are on average higher than the national average. Altogether the Return on Assets for the banks in Georgia is ranked 11st out of the 52 states and main territories in the country.
  • Return on Equity – banks in the state of Georgia are on average generating a higher return on equity than the average bank in the United States. In total, the return on equity for banks in Georgia is ranked 14th out of the 52 states and main territories in the United States.
  • Loan to Deposit – this is an important metric to gauge the liquidity of a bank. Banks in this state are on average below the national average when it comes to loan to deposit. A lower loan to deposit ratio means the bank is more comfortably funding its loan activities using its deposit base. Overall, banks in Georgia are ranked 23rd out of the 52 states and main territories in the country when it comes to loan to deposits.
  • Nonperforming Assets – this metric is a good way to compare the quality of the assets of a bank as well as the performance of the assets. Banks operating in the state of Georgia are on average better than the national average when it comes to nonperforming assets. The level of nonperformance is what is important as a higher figure indicates a lower quality or a lower performing asset base. In total, banks in Georgia are ranked 22nd out of the 52 states and main territories in the country on this metric.

5 Largest Banks in Georgia

deposit-market-share-of-banks-in-Georgia

Based on the latest available data, Truist Bank is the largest bank operating in Georgia based on its deposit share. Truist Bank currently has a 22% share of deposits within the state. Below is summary information on the top 5 largest banks in Georgia.

Truist Bank

Truist Bank currently has the largest share of deposits within the state and has $72.8 billion of deposits. In addition to this the bank also has 290 offices within the state, which represents 11% of its total domestic offices.

Main Office Address: 214 N Tryon St Charlotte, NC 28202

Website: www.BBT.com

Bank of America

Bank of America currently has the second largest share of deposits within the state and has $53.5 billion of deposits. The bank also has 153 offices within the state, which represents 4% of its total domestic offices.

Main Office Address: 100 N Tryon St Charlotte, NC 28202

Website: www.bankofamerica.com

Wells Fargo Bank

Wells Fargo Bank currently has the third largest share of deposits within the state and has $50.4 billion of deposits. The bank also has 210 offices within the state, which represents 4% of its total domestic offices.

Main Office Address: 101 N. Phillips Ave. Sioux Falls, SD 57104

Website: www.wellsfargo.com

Synovus Bank

Synovus Bank currently has the fourth largest share of deposits within the state and has $23.3 billion of deposits. Further, the bank also has 111 offices within the state, which represents 38% of its total domestic offices.

Main Office Address: 1111 Bay Ave. Columbus, GA 31901

Website: www.synovus.com

Ameris Bank

Ameris Bank currently has the fifth largest share of deposits within the state and has $12.7 billion of deposits. In addition, the bank also has 103 offices within the state, which represents 57% of its total domestic offices.

Main Office Address: 3490 Piedmont Rd, Ne Atlanta, GA 30305

Website: http://www.amerisbank.com