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| Home I GBA University I Member Services I Volunteers I Government Relations I Calendar of Events I December 16, 2011 | ||||||||||||||||||||
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New Georgia Banking Update Available Get a detailed look at the current Georgia banking landscape with the new version of our GBA Georgia Banking Update. The updated version summarizes third-quarter performance, details small business lending efforts and has a full summary of national and state regulatory and legislative issues. It includes a good preview of the bills and issues we expect in the upcoming Georgia legislative session and has lots of facts, figures and analysis that will help you tell the story of Georgia banking. Link to the Georgia Banking Update by clicking on the image at right. With questions, contact Joe Brannen, 404.420.2026, Elizabeth Chandler, 404.420.2027, or David Oliver, 404.420.2036.
Talk to Your Representative One-on-one at Legislative Reception Don't miss the opportunity to talk to your representative one-on-one at GBA's annual Legislative and Economic Forum and Legislative Reception. The events start at 3:30 p.m. at the Ritz-Carlton, Downtown with our Legislative/Economic Update forum. On the agenda are Tom Cunningham, Vice President and Senior Economist, Federal Reserve Bank of Atlanta for an economic update, and Commissioner Rob Braswell with the Georgia Department of Banking and Finance. The Legislative Reception is from 6-7:30 p.m. at The Commerce Club on the 49th Floor of the of the 191 Peachtree Building. Click here to register online. With questions about the hotel or the reception, contact GBA's Susie McGehee at 404.420.2010.
Foreclosures and GBA in the News There were a couple of relatively positive foreclosure-related stories making news this week. Several media sources reported that Fannie Mae, Freddie Mac and many large mortgage servicers and lenders have suspended foreclosure related activities through the end-of-year holiday period. This is not unusual, as GBA’s David Oliver, Senior Vice President, Communications and Marketing, explained to Atlanta’s Fox 5 News Monday. Also, the Atlanta Journal-Constitution reported Tuesday that foreclosure filings in the metro Atlanta area fell to the lowest number in three years. Oliver also provided perspective for that story. Our messages were that the trend is likely lower because the most troubled, fraudulent or risky loans have already worked their way through the system. And, bank modification programs are being more successful. This year, modifications by HOPE NOW participants, which represent more than 1.3 million Georgia mortgages, have outpaced actual foreclosure sales by about a 2-1 margin. The key to continuing the downward trend hinges on whether 2012 brings a better economic recovery and lower unemployment. Maybe we're gaining ground there, with the Georgia Department of labor Thursday announcing unemployment for November dipped below 10 percent. “We had the best November since 2007 for retail hiring, while seeing gains in the financial and business sectors,” Labor Commissioner Mark Butler said. “These two sectors have been hit very hard by the recession. This is encouraging news.” With questions, contact David Oliver at 404.420.2036.
A point-by-point list of ownership and servicing responsibilities for banks taking title to or servicing foreclosed properties has been issued by the Office of the Comptroller of the Currency (OCC). The guidance also covers responsibilities for banks acting as a securitization trustee. The guidance details how banks should ensure compliance with all appropriate property maintenance, tax, property registration, appraisal and other ownership functions such as communication with borrowers, community agencies and governments. It also encourages banks to maintain the appropriate staff levels to manage ownership, servicing and trustee responsibilities or take great care to ensure third parties are capable of compliance. Here’s a link to the full guidance, which is pretty specific and prescriptive.
Who Pays for Bank Closures? Setting the Record Straight The answer to that can be complicated depending on your perspective, we know, but one straight answer for sure is that taxpayers are not directly on the hook. Unfortunately, a recent letter writer to the Atlanta Journal-Constitution had the wrong impression on that. We took the opportunity to set the record straight, and the paper published the following response from GBA President and CEO Joe Brannen Sunday. “We need to clear up a couple of incorrect statements made by a letter writer about bank closures. Taxpayers have not paid a single penny to deal with bank closures in Georgia. The FDIC insurance fund used to handle bank closures is paid for by banks to protect the funds of their depositors. The shareholders in the institutions that were closed did suffer financial losses. Shareholders are often customers, other members of the community (and, yes, bankers). To say they haven’t lost a dime is simply not correct.” With questions or comments, contact Joe Brannen, 404.420.2026, or David Oliver, 404.420.2036.
Coming off of last week’s Credit Conference, we know real estate valuation and appraisal issues continue to be top-of-mind issues to members right now. Our appraisal panel was among the most popular sessions. The regulatory panel at the conference also got peppered with questions on these topics. The current issue of the FDIC’s Supervisory Insights publication focuses on issues related to real estate appraisal and valuation programs. An article, "Navigating the Real Estate Valuation Process," highlights certain aspects of the 2010 Interagency Appraisal and Evaluation Guidelines. The article also provides information for bankers about sound practices for banks' real estate valuation processes in the areas of valuation review, independence, content standards, preparer selection and monitoring. The journal is available here on the FDIC website.
FDIC Vice Chair Nominee Gets Preliminary Nod The Senate Banking Committee this week approved Thomas Hoenig’s nomination to become FDIC vice chairman. Hoenig is the former president and CEO of the Kansas City Federal Reserve Bank, a strong and vocal supporter of community banks, and frequent critic of Fed policies. Final confirmation depends now on approval by the full Senate, as it does for other key regulatory leadership nominees Martin Gruenberg to be FDIC chairman and Thomas Curry to be Comptroller of the Currency. The Senate Banking Committee approved Gruenberg’s and Curry’s nominations Sept. 8. Senate Banking Committee Chairman Tim Johnson (D-SD) and Ranking Member Richard Shelby (R-AL) have said they would work together to get these nominees approved by the full Senate soon.
GBA Retirement Services, Inc. welcomes two new banks to the Trust: First State Bank, Wrens, Joe Gore, CEO, and Touchmark National Bank, Alpharetta, Pin Pin Chau, CEO. We look forward to serving the banks and their employees. The programs offered by GBA Retirement Services provide flexibility to meet the needs of any bank or Associate Member that may be looking at adding or changing its qualified retirement plan. Advantages of being part of the GBA Master Trust include:
An option for streamlining payroll services through the 401(k) Third Party Administrator, Alliance Benefit Group. Please contact Mandy Richards at 404.420.2025 for more information about how GBA Retirement Services can help design a retirement plan for your bank.
GBA Senior Lending Officer Peer Group Roundup Senior Lenders from around the state gathered last Thursday before the start of GBA's 2011 Credit Conference in Atlanta to hear Randy Griffin, President, CSRA Business Lending, Augusta and Jeff Roach, Partner, Small Business Resource Associates, Canton discuss SBA Lending. Randy and Jeff reviewed both 7(a) and 504 loans, how they benefit the bank and the borrower and how they can help grow loan portfolios. The group ended the program with a panel discussion about foreclosure-related legal issues. The panelists were Wendy Godfrey, Nicole Wade and Jerry Blanchard, Partners, Bryan Cave, LLP. If you would like to join the Senior Lending Officer Peer Group, please contact GBA's Alison Moreau at 404.420.2034.
And a Special Thank You to 2011 Credit Conference Sponsors and Exhibitors The following Associate Members exhibited and took advantage of networking opportunities at the Credit Conference:
And, we would like to thank Steve H. Powell & Company for sponsoring the breakfast and SunTrust Robinson Humphrey, Inc. for providing each attendee with a copy of Bill Isaac’s book, Senseless Panic: How Washington Failed America.
There’s a new ombudsman’s office for the Consumer Financial Protection Bureau (CFPB). The agency has created the office, “to help resolve individual and systemic problems that banks, nonbanks and consumers have with the agency,” CFPB Chief of Staff Meredith Fuchs said last week. Here’s a link to all you need to know.
TDR, Loan Disclosure and Allowance Requirements Webinar GBA hosted its New TDR, Loan Disclosure and Allowance Requirements Webinar Dec. 15. If you missed it, you can buy a recorded CD of the live session along with the materials. The webinar focused on the new Troubled Debt Restructuring (TDR) requirements that were effective for public companies in 2011 and will become effective for non-public companies in January. The session also reviewed the new loan footnote disclosure requirements that become effective for non-public companies as of their Dec. 31, 2011, financial statements. Financial institutions will need to make numerous decisions related to these new requirements before closing out 2011 to generate the needed loan reports for these new disclosure requirements. The session also reviewed the latest allowance for loan loss methodology proposal that attempts to move the industry from the “incurred loss” model to the “expected loss” model. Ron Mitchell from Mauldin and Jenkins, LLC led the webinar. The recording is $109 for GBA members. With questions, please contact Courtenay Pope at 404.420.2015.
New Session Added to Annual Financial Risk Management Conference Sharpening Our Financial Management Skills - Adapting What We’ve Learned The financial risk management professionals in Georgia’s banks have gained savvy and experience through the changes and challenges of a testy economic environment. Since the Great Recession began in December 2007, we’ve made it through four rugged years, but we‘re better bankers for it. In a new session added for this year’s Financial Risk Management Conference, Elaine Demarest, Demarest Strategy Group, Inc., will lead a discussion about good lessons learned. She’ll share collected practical tips, insights, know-how and wisdom gained through this cycle on key topics - overall risk assessment, interest rate risk management and measurement, liquidity dynamics, profit analysis, capital planning, examination practices, and strengthening organizational structure. Then we will point our sharpened skills toward opportunities the future can hold for our banks. This year’s Financial Risk Management Conference is Jan. 18-19, 2012, at the Cobb Galleria Centre in Atlanta. GBA has a company rate of $149 at the Renaissance Waverly Hotel based on availability, so make your reservations early by calling the hotel directly at 770.953.4500. With questions, contact GBA’s Marybeth Jones at 404.420.2032.
Boost Your Career by Earning CRCM Certification The Certified Regulatory Compliance Manager (CRCM) certification is designed to build standardized skills and set the highest professional standards for compliance professionals. Earning CRCM Certification can boost your career and help your bank. We have several resources, listed below, to help you with the process.
ABA Online Review Course for the CRCM Exam: Next Start Date Jan. 23, 2012 This course is designed for Compliance Professionals and specifically for those preparing for the Certified Regulatory Compliance Manager (CRCM) Exam. Click here for more details and registration links.
ICB-approved Courses for Those Needing Continuing Education Credits The following regulatory compliance training programs have been approved by the Institute of Certified Bankers (ICB). These programs will count toward the 80 hours of required ICB-approved compliance-related training:
Other AIB Regulatory Compliance Courses are below. These compliance courses vary from 0.5 to 1.75 CRCM credits. Click on the links to review a course and identify how many CRCM CE credits apply.
Contact GBA's Alison Moreau at 404.420.2034 with questions.
New AIB Private Banking Courses ABA eLearning for Private Bankers. Private bankers offer personalized banking services to high-net-worth individuals. They provide deposit, lending and investment advice through a team of bank experts to consistently deliver financial solutions that meet a client’s goals. Private bankers are able to identify referral opportunities across all service lines including investment, brokerage, insurance, financial planning and credit. Private bankers require strong credit, underwriting and loan-structuring skills, and must be able to analyze financial statements. They must demonstrate in-depth knowledge of banking issues and how they impact their clients. In addition, private bankers must possess a high degree of effective relationship management skills. ABA eLearning has a brand new group of courses that address the core knowledge needs of private bankers, as well as additional courses designed to deliver the knowledge and skills required to be a successful private banker:
Please contact GBA's Alison Moreau at 404.420.2034 with questions.
ABA Insurance Services Can Protect Your Bank and Customers from Online Liability
Keeping Your Top Employees Will Save Your Bank Money; TalentQuest Can Help
Find a Job, Post a Job with GBA Job Bank The Georgia Bankers Association offers free job posting resources for our member banks. These listings can be viewed online or through our bi-weekly print publication, the GBA Bulletin. Resume postings are also available. For more information, please contact Kenyetta Parks at 404.420.2035.
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.
Atlanta – Georgia Bankers Association GBA recently held its 2011 Holiday Luncheon and handed out service anniversary recognitions to the staff members pictured below. The staff also donated a sleigh's worth of toys to Toys for Tots. In other news, GBA President and CEO, Joe Brannen was named the J. Alton Wingate Economic Partnership Award recipient for 2011 by Access to Capital for Entrepreneurs.
Statesboro - Sea Island Bank, a division Synovus Financial Corp. Darron Burnette has been named President and CEO.
Washington D.C. - FDIC Stephen Quick will manage the Office of Corporate Risk Management.
Washington D.C. - OCC Morris Morgan has been named Large Bank Deputy Comptroller.
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