The beleaguered banking industry continues to struggle in Georgia, but there may be signs of some stability.
In the Barrow-Jackson County area, three community banks landed on a recently published list of troubled Georgia banks with high “Texas ratios” above 100. But a fourth local struggling bank fell off that list from a year ago, a sign that perhaps stability may be taking hold in the industry.
At Barrow’s The Peoples Bank, leaders are preparing a major stock offering to shore up the banks finances, according to CEO Chris Maddox.
“We are in the process of trying to get started to do a capital raise, a stock offering, which means we'll be looking for investors to help us get through this really hard time,” he said. Maddox said there are no plans to sell the bank, but that following the stock offering, his family’s long-time ownership of the bank could be diluted.