Georgia

Years of branch closures and job cuts are paying off for banks in the form of much-improved efficiency ratios. But with low interest rates still crimping profits, banks remain under pressure to continue reducing expenses.

Colony Bankcorp in Fitzgerald, Ga., has redeemed $3.6 million in perpetual preferred stock associated with the Troubled Asset Relief Program.

Plenty of banks have ended their federal loss-share deals early, but despite the incentives to wind them down, plenty more still have these crisis-era arrangements in place. It may be due to varying deadlines, mistakes calculating loan values or worries that they still might need the coverage for home equity lines.

National Commerce in Birmingham, Ala., has agreed to buy Private Bancshares in Atlanta.

The latest lending figures show just how prodigious banks' shift from construction to C&I loans has been since the crisis. Yet a hard look at C&I credits, especially their loss rates, raises questions about whether they are safer.

Another data firm plans to seek regulatory certification as a credit bureau for payday lenders.

Synovus Financial in Columbus, Ga., has agreed to pay nearly $9 million to settle lawsuits that claim the company knew of illegal transactions by one of its clients.

SouthCrest Financial Group in Woodstock, Ga., has found a new leader after his predecessor departed eight months ago.

United Community Banks in Blairsville, Ga., reported higher quarterly gains spurred by fee revenue.

SunTrust Banks in Atlanta on Friday reported a slight increase in profit that could have been greater were it not for a surge in energy chargeoffs.