annual report - Department of Banking and Finance

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There were 68 state-chartered credit unions in Georgia at year-end 2008, a decrease of one from the previous year. The net decrease is attributed to one federal credit union converting to a state charter and two state-chartered credit unions merging out of existence during the year. A four-year balance sheet and income statement snapshot for state-chartered credit unions can be found on Page 17 of this Report. NOTE: In the graph to the right, Total Assets for state-chartered credit unions includes the Corporate Credit Union (Georgia Central Credit Union). STATECHARTERED CREDIT UNION STATISTISTICS OTHER SUPERVISED/REGISTERED FINANCIAL INSTITUTIONS BANK HOLDING COMPANIES A total of 265 bank holding companies were registered with the Department at the end of 2008. The Department accepted six and approved nine holding company formation applications during 2008. Five holding company acquisition applications were accepted during the year and six were approved. FOREIGN BANKING ORGANIZATIONS At year‐end, the number of International Bank Agencies and Domestic International Banking Facilities licensed by the Department remained unchanged at three and one, respectively. All three International Bank Agencies operate as representative offices only, but maintain their licenses as an agency. The number of International Representative Offices registered increased by one during the year to total three. TRUST COMPANIES SUPERVISORY DIVISION SUMMARY OF ACTIVITIES FOR 2008 Trust activities continue to be conducted principally by bank trust departments. There is one state‐chartered non‐deposit trust company in Georgia that is an independent trust company (Reliance Trust Company, Atlanta, Georgia). REPRESENTATIVE OFFICES OF BANKS AND BANK HOLDING COMPANIES A representative office is an office established by a bank, a bank holding company, or an agent or subsidiary of either for the purpose of conducting other than a banking business, and is not considered a main office or a branch office. As of the end of 2008, there were 71 entities registered with the Department having representative offices operating in this state. 2008 Annual Report Page 15
SUPERVISORY DIVISION STATECHARTERED BANK FINANCIAL SUMMARY Source: Call Report and Thrift Financial Report FDIC‐Division of Insurance and Research 2008 Annual Report Page 16
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annual report - Department of Banking and Finance

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