Home arrow NewsBreak arrow "We've Turned the Corner," Bank Exec Says
"We've Turned the Corner," Bank Exec Says
Wednesday, 11 June 2014

June 11--  After years of suffering through the country's economic downturn, the head of the state banker's association says local banks are making a comeback.

ImageJoe Brannen, CEO and President of the Georgia Bankers Association, believes banks have turned the corner and are looking to lend money.

"It's been a tough time for our state and our banks are a reflection of the tough times we've gone through.  We're on the other side of that.  Eighty-five percent of our banks are profitable now.  That means our customers are paying back their loans and are doing better.  We're on a better side of the problems and it's a positive side," Brannen told the Vidalia Rotary Club.

Brannen says that even though banks have to jump through more regulatory hoops to lend money now, they've got the capital to do it.

"There's never been a better time to borrow money than today.  The banks have plenty of capacity to loan, rates are at all time lows and, if you're a bankable customer, there's never been a better time to walk in and ask," he said.  

 
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