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Mercer Law Review

Bank foreclosure

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Confirming The Enforceability Of The Guaranty Agreement After Non-Judicial Foreclosure In Georgia, Dianna Lee Jul 2014

Confirming The Enforceability Of The Guaranty Agreement After Non-Judicial Foreclosure In Georgia, Dianna Lee

Mercer Law Review

Between 2008 and 2011, Georgia experienced seventy-four bank failures, the highest number of failures in the nation. Of these seventy-four banks, sixty-nine were small banks (banks with less than $1 billion in assets), five were "medium-size" banks (banks with assets between $1 billion and $10 billion), and none were large banks (banks with more than $10 billion in assets). The majority of bank failures in Georgia were therefore comprised of small banks with less than $1 billion in assets. Unfortunately, the failures of these community banks "were largely driven by credit losses on commercial real estate ... loans." ...

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