Local News

October 24, 2012

FDIC says bank deposits rose in Dalton in fiscal 2012

Total bank deposits in the metro Dalton area, which includes Whitfield and Murray counties, rose 3.5 percent in fiscal 2012, according to the FDIC’s annual summary of deposits.

Total deposits stood at $2 billion in the year ended June 30, up from $1.9 billion in fiscal 2011. The total number of bank offices in the two counties stood at 38 in 2012, unchanged from the previous year.

Deposits actually rose at the 14 banks doing business in the Dalton metro area from 2007 to 2010, from $1.9 billion to $2.1 billion, before dipping in 2011.

Bill Davies, city executive for BB&T, says rising deposits aren’t “necessarily a positive.”

“What we’ve seen through the (economic) downturn, particularly on the business side, is people holding on to their cash as opposed to reinvesting in equipment or expanding,” he said.

Greater Dalton Chamber of Commerce President Brian Anderson said people could well be holding on to their money until they are certain the economy is improving.

“I’ll defer to the experts in the banking industry. But it certainly sounds reasonable to me that if someone has been unemployed for six months or a year and they do get a job, they aren’t going to start spending right away,” he said. “They’d be paying whatever bills they had to and buying those things they absolutely need but saving as much as they could. Everyone is being very cautious. I heard a major CEO say recently, ‘The numbers say we are in a recovery. But it just doesn’t feel like it.’”

Davies says the drop in deposits in 2011 could have been that people were feeling more optimistic and began to spend some of their money.

“It’s hard to say. They might have had to spend that money just to meet obligations,” he said.

In particular, Davies said, deposits might have slipped as local governments dipped into their fund balances in 2011.

“Maybe 2011 was the low point and things are starting to improve. I don’t know,” he said.

Whitfield County

Alliance National Bank: $125M

Bank of America: $141.3M

BB&T: $433M

CertusBank: $43.6M

Community & Southern Bank: $34.7M

First Bank of Dalton: $163.6M

First National Community Bank: $23M

FSGBank: $150.4M

Regions Bank: $134.2M

Stearns Bank: $8M

SunTrust Bank: $24.6M

Synovus Bank: $77.5M

Wells Fargo: $362.2M

Murray County

Community & Southern Bank: $46.1M

First National Community Bank: $95.5M

Regions Bank: $24.1M

Synovus Bank: $98.6M

Wells Fargo Bank: $19.7M

1
Text Only
Local News
  • Man charged for using fraudulent Social Security card

    A man is being held in the Whitfield County Jail on multiple charges for using a fraudulent Social Security card with someone else’s Social Security number to land a job at a rug manufacturer in Dalton and for providing false information to receive workers’ compensation benefits, according to the Georgia State Board of Workers’ Compensation’s Enforcement Division.

    April 23, 2014

  • Standoff 1 mlh.jpg Police: Four-hour standoff ends with peaceful surrender

    A man who was armed with at least one firearm and believed to be under the influence of alcohol surrendered to police Tuesday night after barricading himself for four hours inside a carpet mill in downtown Dalton, officials said.

    April 23, 2014 2 Photos

  • Murray deputy bit by drug dog while taking selfie

    A Murray County Sheriff’s Office deputy is recovering after one of the department’s drug dogs bit him in the face on Monday.

    April 23, 2014

  • Local wrestler ‘made everybody smile’

    Rash Renegade got his wrestling nickname after a motorcycle wreck several years ago left him with a bad case of road burn.

    April 23, 2014

  • Pinwheels in murray '14 1 mlh.jpg Awareness can prevent child abuse

    Three hundred forty-six pinwheels dotted the Murray County Courthouse lawn on Tuesday, representing 346 reported cases of child abuse in the county last year.

    April 23, 2014 2 Photos

  • Murray library, regional system still far apart

    Murray County officials say they will announce soon if they will follow through with their plan to take the Chatsworth-Murray Library out of the Northwest Georgia Regional Library System.

    April 22, 2014

  • Fire believed to have started outside home

    Investigators are still working to learn what sparked a fire that nearly destroyed a house at 602 Top St. in Dalton on Monday.

    April 22, 2014

  • Murray deputy bit by drug dog while taking selfie

    A Murray County Sheriff’s Office deputy is recovering after one of the department’s drug dogs bit him in the face on Monday.

    April 22, 2014

  • gov deal in dalton1.jpg State faces skilled worker gap

    Clay Cooper says HON is producing as many retirees as the company is office chairs.

    April 21, 2014 3 Photos

  • house fire on tops st1.jpg House fire under investigation

    Investigators are trying to determine what caused a house fire on Top Street in Dalton Monday that at least temporarily put a family of four out of their home.

    April 21, 2014 1 Photo