Georgia Banking Company is headquartered in Atlanta and is the 13th largest bank in the state of Georgia. It is also the 775th largest bank in the nation. It was established in 2001 and as of June of 2022, it had grown to 167 employees at 4 locations. Georgia Banking Company has an A health rating.
Great Customer Service
I recently found Georgia Banking Company on this website because of their high rates, boy am I happy that I did. They have the best service, any time I ever had to call they pick up almost immediately and are very knowledgeable. I would recommend giving them a try!
Kasasa Checking Requirements
I called before opening a reward checking account to get as much info as possible. Reps were very pleasant, however, the opening process requires the use of separate email / DocuSign system. You will likely be required to scan & upload ID and utility statements, etc. They did not inform me that an Equifax credit pull would be required until I was most of the way through the process (second day). Very disappointing as I keep my credit reports frozen and had to jump through a bunch of hoops.and wait an even longer period of time. For those who want simplicity or don't want a credit pull, you'll want to avoid. Thanks.
Restrictions On ACH Transfer And Beneficiary Designation
Wanted to open an online CD and called the customer service. The staff was great, but they informed me that they have $25000 limit on ACH transfer for funding the account. Anything more, you have to MAIL a check. Also, no beneficiary designation available during online application. Once the account is funded, you have to call them to add a beneficiary. A bit of hoops to go through...
AWFUL ONLINE ACCOUNT OPENING EXPERIENCE
I have been trying to open a Connect checking account t online to use the account only to have my maturing CD’s deposited into the account. (Georgia Banking will not ACH the maturing funds back to my original funding account but are making me open a checking account that will accept the funds and I will have to execute an ACH debit into this account from an external account!)
However, Georgia Banking’s pathetic website will not open the checking account. It just hangs and then fails to open the account. It gives no feedback at all. It’s useless!
Data as of Q2 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 57071 |
| Year Established | 2001 |
| Employees | 167 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -0.05% |
| Return on Equity - YTD | -0.53% |
| Annual Interest Income | $22.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $1.32B$738.5MM |
| Loans | Q2 2022vs Q2 2021 | $1.13B$519.3MM |
| Deposits | Q2 2022vs Q2 2021 | $1.19B$625.5MM |
| Equity Capital | Q2 2022vs Q2 2021 | $121.8MM$104.9MM |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $10.9MM$4.1MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $2.9MM$3.4MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $0$0 |