Business View Magazine | November 2020

97 BUSINESS VIEW MAGAZINE NOVEMBER 2020 COMMUNITY BANKERS ASSOCIATION OF GEORGIA Community banks – The Secret Behind Georgia’s Robust Economy Submitted by John McNair, President & CEO A s noted on several occasions by Governor Brian Kemp and others, Georgia has one of the most robust economies in the country and regularly ranks as one of the top states for business. While there are many factors contributing to this success, one not often discussed is the access to capital and basic financial services. Both are critical for the development and growth of business and necessary for people to conduct their daily lives. If you are wondering what makes Georgia so special in this area, look no further that the state’s exceptional community banking industry. Georgia ranks amongst the top states in the country regarding the overall population of community banks. With two new community banks opening over the past 12 months and a third one coming online later this year, Georgia will have over 150 community banks. Factoring in that, on average, community banks make over half of all the small business loans in the country and almost three quarters of the agribusiness loans, it stands to reason that a secret to the state’s macroeconomic success is its strong community banking industry. Moreover, the impact each community bank has on its