Legislative Update

General Assembly Nearing Crossover Day

The pace of activity continues to be brisk in the General Assembly. Next Wednesday is what’s called Crossover Day – the day bills should pass at least either the House or Senate for the other body to consider the bill this session. GBA testified against two bills this week. One bill requires lenders to notify subcontractors of the lender’s residential subdivision customer when funding is in jeopardy to the bank’s customer. The other bill would require a party buying a home at foreclosure to pay up to six months of past due homeowners association dues if those personal debts are outstanding. Neither bill is expected to pass this session. We'll keep you posted. Please click here to learn more by reading this week's Legislative Update...

Integrity Directors and Officers Case

FDIC Dismisses Ordinary Negligence Claims

Earlier this week Judge Steven C. Jones of the United States District Court for the Northern District of Georgia made some critical rulings in the FDIC lawsuit against former Integrity Bank directors and officers. The ruling is the first substantive ruling in a closed-bank case in Georgia, and is likely to have considerable persuasive effect on subsequent bank litigation in Georgia going forward. Bryan Cave’s Jake Bielema provided a summary of the ruling for GBA that you can link to here...

Georgia Banks Report $570 Million Profit for 2011

Georgia banks collectively had positive earnings for the first year-end period since 2008, according statistics available with the release of the FDIC's Quarterly Banking Profile this week. For the year, Georgia banks earned about $570 million. About 60 percent of banks were profitable for the year, as opposed to 45.9 percent in 2010. And, asset quality was better, To show long-term trends, we have compiled the most recent data into a chart with a cumulative, year-to-date summary through the end of each quarterly reporting period for the past year, and the national numbers with year-to-year comparisons. See the chart here for all the results and comparisons...

Summary of GA Community Bank Performance

Profitability, credit quality, net-interest margin and capital level improvement trends continued for Georgia banks with less than $10 billion in assets for 2011. GBA Associate Member SNL Financial presented a summary of those trends during free webinar to GBA members Thursday. Click here to get more highlights and download a copy of the presentation.

GBA Conference Coverage

Operations and Technology Roundup

The latest trends, best practices and business conditions were served up for Georgia Bank operations and technology professionals this week in Atlanta during the 2012 GBA Operations and Technology Conference. Special thanks to the GBA Operations and Technology Committee, Todd Bogdan, First Cherokee State Bank, chair, for planning the conference. Thanks, also to our sponsors, Fiserv, Gladiator Technology and Safe Systems. Also, we appreciate our exhibitors, CompuNet, CoNetrix, GACHA, Glory USA, High Cotton, Jack Henry & Associates, Payscape Advisors and Safe Systems. Read more 2012 Operations and Technology Conference highlights here...

SEC Shareholder Bills Added to House Small Business Package

Efforts continue to try and raise the 500-shareholder threshold for Securities and Exchange Commission registration. Two bills in a six-bill small business assistance package introduced this week for consideration by the full House of Representatives by House Majority Leader Eric Cantor address the issue. We’ve been supportive of increasing the registration threshold, something that hasn’t been done in 40 years. Learn more about the SEC registration thresholds here...

CFPB's Checking, Savings Account Complaints System Open

The CFPB Thursday opened its system for taking consumer complaints about checking and savings accounts. The Bureau says it expects banks to respond to complaints within 15 days and close them within 60 days. This is the third phase of the bureau’s Consumer Response Complaints program. See more CFPB news here...

FHA Hikes Insurance Premiums

On April 1, the Federal Housing Administration (FHA) will raise the upfront insurance premium it charges borrowers by 0.75 percent. The new upfront premium will be 1.75 percent of the base loan amount. The FHA also is hiking its annual insurance premium by 0.10 percent on loan balances of up to $625,500 on April 1. The agency is raising its annual insurance premium by 0.35 percent on loan balances that exceed $625,000 on June 1. Learn more about rising FHA premiums here...

SBA Boosts Size Definitions for Many Sectors

The U.S. Small Business Administration (SBA) this week increased the revenue-based size standards in 22 industries in the Transportation and Warehousing sectors. The SBA estimates as many as 1,200 additional firms in this sector will become eligible for SBA programs as a result of these revisions. The SBA also issued a proposed rule to increase the small business size standards for 28 industries in the Health Care and Social Assistance sector. As many as 4,100 additional firms could become eligible for SBA's programs and services if the proposed increases are adopted. More news about SBA eligibility here...

Key GBA Event Reminders

Collections and Recovery Seminar March 22

This seminar will provide a comprehensive overview of fundamental legal principles involved in the collection process. Click here for more information and to register...

Marketing and Communications Conference March 22-23

Cross Channel Digital Marketing. Click here for more information and to register

HR Professionals Institute March 22-23

Click here for more information and to register

Southeastern Community Bank Symposium March 28

Click here for more information and to register

Bank Security Conference March 29-30

Fraud Prevention. Click here for more information and to register

Newsmakers

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

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.