Still Time to Register for 2012 Leadership Conference - July 22-25

Details are being finalized for Leadership GBA's Annual Leadership Conference scheduled for July 22-25 at the King and Prince on St. Simons. The Leadership GBA Executive Committee has planned a great program that's both timely and educational. Click here to register online. With questions about the conference or Leadership GBA in general, please contact GBA's Susie McGehee at 404.420.2010. Get more details about the Leadership Conference and see the full agenda...

Treasury Announces More TARP/CPP Investment Sales

Following last week's sale of their interest in seven institutions individually to multiple investors, the U.S. Department of the Treasury has sent letters to 200 other banks still holding Capital Purchase Program (CPP) investments outlining possible plans to sell those investments in pools. The banks were told they had a couple of other options. Read about the other choices banks' have with their CPP investments...

In a Georgia Farmer's Words: Farm Bill Unfair

We've been reporting on the negotiations on this year's Farm Bill and why it needs a lot more work to make it fair to farmers in all parts of the country. Georgia Sen. Saxby Chambliss has taken the lead fighting for peanut and rice farmers in states like Georgia to be treated equably with corn and other grain producers in the Midwest. The Senate passed the bill Thursday and it's headed to the House. Chambliss and Sen. Johnny Isakson voted against final passage. The private/public crop insurance program and the role that plays in helping farmers manage risks like weather and other natural disasters is front and center in the debate. National Public Radio posted a good story last week on the disparate treatment embedded in the current version of the bill. Link to that story to learn more about the Farm Bill debate and its potential effects...

Basel III Contains Some Surprises

We're still wading through the proposed Basel III capital rules and are picking up some unexpected surprises. If your bank has issued Trust Preferred Securities (Trups), you'll want to pay close attention. Inconsistent with the intent of the Collins amendment, Basel III does not grandfather Trups for institutions between $500 million and $15 billion. Instead, Basel III requires the phase-out of these instruments for bank holding companies having under $15 billion in total consolidated assets as of December 31, 2009. Under the rule, the instruments will be fully phased-out on January 1, 2022. Jonathan Hightower of Bryan Cave summarized the issue well in a post on the Bryan Cave website which you can link to here...

GBA Asset/Liability Committee Meeting Notes

Basel III capital requirements, enterprise risk management, portfolio management in a low rate environment and general investment strategies were a few of the topics discussed at this week's meeting of GBA's Asset/Liability Committee. Led by committee Chair Todd Makant, Vinings Bank, Smyrna; and Vice Chair Dana Litman, Quantum National Bank, Suwanee, the committee met to discuss key issues and to plan GBA's 2012 Financial Risk Management Conference slated for Nov. 7-8 in Atlanta. Please note that we've moved this conference from January to early November in response to feedback from participants. Look for more details coming soon about the conference agenda and contact Marybeth Jones with questions, 404.420.2032.

Bernake Discusses Headwinds; Tells Congress to Get Fiscal House in Order

To no one's surprise, the Federal Open Markets Committee (FOMC) voted to not raise the fed funds rate when they met this week in Washington. Fed Chairman Ben Bernake followed the meeting with a press conference and several themes emerged. Read more about Bernake's statement related to the economy, rates and recovery...

OCC Follows GA Lead on Derivatives Exposure

The Georgia General Assembly adopted legislation mandated by the Dodd-Frank Act that requires state-chartered banks to include derivatives exposure in the bank's lending limit calculations. This week, the Office of the Comptroller of the Currency proposed a similar requirement for national banks and federally-chartered savings institutions. The new state law and OCC's interim final rule give all institutions until Jan. 1, 2013, to comply. The comment period for the OCC's proposal is August 6.

2012 BankPAC Campaign Kicks-Off

The 2012 BankPAC Campaign was launched recently and is off to a great start. Thanks to the banks and individual officers and directors who have already contributed. “This is one of the most important things that we as bankers can do collectively for our industry”, said
Tom Wiley, Chairman, President  & CEO of The Coastal Bank in Savannah and Chair of the BankPAC Board of Directors. Materials were recently mailed to all CEOs.  They will need to sign the campaign authorization card to get started on their bank’s campaign for the GBA FedPAC which may only accept personal contributions, while the GBA StatePAC may accept contributions from the bank or holding company. A great option to consider for FedPAC contributions is utilizing a payroll deduction method. A form for this is included in the materials that can be tailored to your specifications. See who has already made contributions to the PAC campaigns here...

Thank you, Annual Meeting Sponsors and Exhibitors

Many thanks to the members and associate members who helped make the 2012 Annual Meeting a great success. Also a special thanks to those who exhibited at the Annual Meeting.  Please link to our list recognizing the firms that so generously sponsored the various events and exhibited. When you see them or correspond with them, please make a special effort to thank them for their support.

Participate and Save!

Just One Week Remains to Submit Data for the 2012 Compensation and Benefits Survey

The deadline for salary data submission for GBA's newly-revamped 2012 Compensation and Benefits Survey is next Friday, June 29. The survey can be quickly completed online at http://matthewsyoung.com/GBA-Survey-index.html. We need all members' help in collecting a good sample size this year to ensure the most valuable results. If your bank does participate, the results of the survey are available for the low price of $150 instead of the $400 price for non-participants. That's more than a 60 percent discount. The results should be available late summer or early fall. If you have questions or comments, please contact either GBA's Kenyetta Parks, 404.420.2035 or Bill LaFontaine at Matthews, Young-Management Consulting, 919.644.6962.

Banking Department Warns Banks About Potential Capital Raising Scams

State Chartered banks should have received an e-mail from the Georgia Department of Banking and Finance this week warning them of a scam brought to their attention by the North Carolina Banking Commissioner. The scam involves individuals representing themselves as having access to large amounts of private equity capital and stating their interest is to acquire control of undercapitalized banks. The scam usually involves upfront due diligence or other fees. The Department said, "In the event you are approached by someone offering to acquire control of or recapitalize your bank, other than an established, well-known investment banker of whose identity you are certain, please exercise caution before entering into any agreement with them. Read more about the dangers of the capital raising scam...

Consumer Bureau Releases Credit Card Complaint Data

A signature project of the new Consumer Financial Protection Bureau (CFPB) was rolled out this week as the CFPB released the test version of their credit card complaint system for anyone with web access to see. CFPB is releasing unverified, anonymous consumer complaints while specifically naming the banks which is disappointing as we believe that could mislead other consumers and unfairly targets banks. Access the interactive data display tool...

Timber Theft – an Old but Growing Problem in Georgia

At GBA's recent Rural Development Conference, there was a good bit of talk among the participants about the increasing number of reports of timber theft. By its nature, growing timber is a costly and long term commitment by the landowner, the lender and all the professionals engaged in a healthy timber operation. We're joining our friends at the Georgia Forestry Association (GFA) to help get the word out that there are steps landowners can take to lessen the chance of becoming a victim. See some suggestions that may save your customers' timber crop here...

Key GBA Event Reminders

Newsmakers

Read about all the Georgia Bankers making news this week...

Read All About It: Send Us Your News

Please remember to include the Georgia Bankers Association on the list of recipients for announcements about promotions, new employees and special recognition your bank has received. We want to share your news with your colleagues across the state. Please forward your announcements and photos to GBA's David Oliver and Bogan Brannen.