Magazine : Archives : 3rd Quarter 2012

When The Devil Went Down To Georgia

The 2006 class of de novo banks will go down as the largest in Georgia history. Beyond that, there’s little to crow about. “There were 19 of us that started that year. About half have failed, and of the ones that remain, about half of those are struggling,” says Charlie Crawford, a 27-year banker and chief executive officer of $200-million asset Private Bank of Buckhead in Atlanta, one of the survivors. “It’s certainly been the toughest period I’ve operated in during my career.” Well over 400 banks have failed nationally since 2007, but few places have felt more pain than...