Home I GBA University I Member Services I Volunteers I Government Relations I Calendar of Events I December 23, 2011
From our GBA family to yours, we wish you a Merry Christmas and happy holidays. Unless there is some critical breaking news, we won't be publishing a Bulletin next week, so look for our next edition during the first week of the New Year. At the top of our holiday wish list is for everyone to enjoy a festive, safe and memorable season with your families and other loved ones.
The bill from Rep. Lynn Westmoreland (H.R. 2056) that calls for the FDIC Inspector General to investigate and report on the impact FDIC resolution procedures for closed banks passed the U.S. House Tuesday. Having been approved by both the House and Senate, it's now on to the President's desk for signature. Congratulations are in order for Westmoreland in getting bipartisan co-sponsorship support including Georgia's David Scott (D) and ranking member, Carolyn Maloney (D-N.Y.). Georgia Sen. Saxby Chambliss (R) managed the bill in the Senate. The bill contains all the issues about which our members have asked for a thorough study. The FDIC Inspector General will study issues such as loss-share agreements, accounting treatments, appraisal practices, capital evaluation by examiners and more. Another study will be conducted by the Government Accountability Office (GAO) to analyze the underlying economic causes and effects of the high level of bank failures since 2008. Here's a link to a good summary of the bill. With questions, contact Joe Brannen, 404.420.2026, or Elizabeth Chandler, 404.420.2027.
Westmoreland Scott Maloney Chambliss
We are excited to announce Gov. Nathan Deal has confirmed that he'll be part of our outstanding lineup at the 2012 GBA Legislative/Economic Forum Jan. 11 in Atlanta. "We appreciate Gov. Deal for making the time to join us, and we think his commitment to doing so speaks volumes about the importance he places on Georgia's banking industry for a stronger economic recovery," said GBA Chairman Rick Whaley, President and CEO, The Citizens Bank of Americus. The Legislative/Economic Forum starts at 3:30 p.m. at the Ritz-Carlton, Downtown. Also 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. If you want to stay overnight, The Ritz-Carlton, Downtown, is totally sold out, but we’ve secured a limited block of rooms at the Georgian Terrace for $179 per night. Act now, though. That rate is only good through Dec. 23. The Georgian Terrace is just a five minute trip by car to the Ritz, Downtown, and the 191 Peachtree building. You can reserve a room at The Georgian Terrace by calling the hotel directly at 404.897.5053. There are also a few rooms available at The Ritz Carlton, Buckhead, at $179 a night. You can reserve a room at The Ritz Carlton, Buckhead, by calling the hotel directly at 404.237.2700. That rate is good through Dec. 31, but there are only a few rooms remaining in the GBA block. Be sure to let either hotel know you’re with the Georgia Bankers Association to receive the reduced rates. With questions about the hotel or the reception, contact GBA's Susie McGehee at 404.420.2010, Jennifer Stevens at 404.420.2024, or Courtenay Pope, 404.420.2015.
Georgia Rep. John Barrow last week introduced a bill (H.R. 3651) that would exempt banks with less than
$1 billion in assets from Truth in Lending Act (TILA) escrow requirements for higher-priced mortgage loans. We've heard time and time again from members how these requirements implemented by the Federal Reserve in 2009 are forcing banks to either take on additional costs of escrow that make credit more expensive for customers or decide to not offer such loans at all, which also eliminates a source of credit to the community. We've also heard from our members that the rate trigger is also a problem, but that is not part of this bill. Enforcement of the TILA and numerous consumer-related rules now falls to the Consumer Financial Protection Bureau, and we raised both the escrow requirements and rate issue with CFPB last May. We appreciate Rep. Barrow for his attempt at the legislative level to help out with the issue. With questions, contact Joe Brannen, 404.420.2026, or Elizabeth Chandler, 404.420.2027.
We’ve heard some better news on the jobs and population front recently. Georgia’s overall unemployment rate for November experienced its largest one-month decline since 1977. Statewide unemployment fell to 9.9 percent from 10.2 percent in October. The jobless rate was 10.4 percent in November a year ago. The state labor department said Thursday that metro Atlanta’s unemployment rate fell sharply to 9.2 percent in November from 9.9 percent in October. Also, Georgia is still a high-population growth state. Georgia’s population growth was fourth-best nationally from April 1, 2010, to July 1, 2011, according to the U.S. Census Bureau. Georgia’s population grew by about 8,530 people per month during that time, for a total of 128,000.
Thursday's Atlanta Journal-Constitution has opposing opinion pieces about the Consumer Financial Protection Bureau (CFPB) penned by Georgia Reps. Lynn Westmoreland (R-District 3) and Hank Johnson (D-District 4). Westmoreland's piece highlights many of the concerns we've had all along with the bureau: its nearly unlimited rulemaking and enforcement authority, additional regulatory burden and single-director structure that lacks good checks and balances. Johnson argues that without a director confirmed, the CFPB can't implement certain oversight of financial services businesses that are currently unregulated. The columns are worth a read for insight about how both sides have framed the debate about whether to confirm the President's nominee for CFPB director, Richard Cordray, or any nominee for the position. Senate Democrat leaders have pushed for confirmation. Republican leaders have said they won't confirm a director without significant structural changes to how the bureau is governed, namely the establishment of a five-person board similar to how the FDIC, Federal Reserve and many other regulatory agencies operate.
This week's major Dodd-Frank-Act-related activity comes from the Federal Reserve in the form of a proposed rule to implement the enhanced prudential standards and early remediation standards. The proposal's requirements generally would apply to U.S.-based bank holding companies with total consolidated assets of $50 billion or more. But several parts of the proposal -- such as those involving risk management and stress testing -- would apply to bank holding companies with $10 billion or more in assets. The comment deadline is March 31.
Federal regulators this week bumped up the asset-size thresholds used to define "small" and "intermediate small" institutions under Community Reinvestment Act (CRA) regulations. Based on a 3.43 percent increase in the Consumer Price Index, a "small" institution will be one that had assets of less than $1.16 billion as of Dec. 31 of either of the previous two calendar years. An "intermediate small" institution will be one that had assets of at least $290 million as of Dec. 31 on both of the previous two calendar years, and less than $1.16 billion as of Dec. 31 on either of the previous two calendar years. The new definitions go into effect Jan. 1. Details here. Remember the Senior Housing Crime Prevention Foundation, a GBA Strategic Partner, offers a way to protect elderly citizens in your community while you earn CRA credit. Contact Lori Millar, 877.232.0859, for more details.
Thanks to all of the bankers who have made your contribution to the GBA Federal and State PACs this year to support your industry. Congrats to those in in Groups 6, 8 and 9 for exceeding their group State Pac campaign goals, and for those in Groups 2, 6 and the GBA Staff for exceeding their Federal PAC goals. Contributing to GBA's Federal and State PACs helps your association support candidates committed to a strong banking industry, and there is still time for you to participate this year in support of the entire industry. For your convenience, the contribution forms for the GBA StatePAC and GBA FedPAC have the suggested giving amounts for your bank and individual contributions. This week, thanks goes to the following companies for contributing to the GBA StatePAC:
Exchange Bank, Milledgeville, Henry Pope, President & CEO
Georgia Commerce Bank, Atlanta, Mark Tipton, Chairman & CEO
People State Bank, Baxley, Charles Stuckey, President & CEO
Kline & Associates, Decatur, John Kline, President
And to the officers or directors of the following banks for their contributions to the GBA FedPAC:
Pinnacle Bank, Elberton, Jackson McConnell, President & CEO
Durden Banking Company, Twin City, G.W. Johnson, President & CEO
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.
Regulators Focusing on Effective Asset/Liability Management: Are You Prepared?
Join Sharon Stark, Managing Director with Sterne Agee & Leach, Inc. as she leads a session during GBA's upcoming Financial Risk Management Conference that will generate ideas about how to measure, assess and manage your balance sheet in this interest rate environment. The Financial Risk Management Conference is scheduled for Jan. 18-19 at the Cobb Galleria Centre in Atlanta. Full details and registration information is available here. 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.
Take Full Advantage of GBA's Interactive Calendar of Events
GBA's online Calendar of Events is a fully-interactive tool that can help bankers take control of their continuing education and empower their success. Complete lists of all scheduled GBA and AIB courses and events are listed there, and the lists can be sorted and viewed in many ways to help you quickly find what you're looking for. Look in the upper right-hand corner of the calendar for the "view" drop-down menu to see a variety of different calendar lists. Here are some tips for using the custom view function of GBA's Calendar of Events:
Bankers looking to follow a track in specific disciplines can Search by Focus Area.
HR Managers and Trainers looking to schedule team sessions at the bank can Search by Delivery Channel and/or Month.
Associate Members looking for a good opportunity to sponsor or exhibit at a GBA event can Search by Event Type.
You can also place online orders for course material for AIB classes not presently scheduled. Please contact GBA's Courtenay Pope, 404.420.2015 or , 404.420.2014 with questions about GBA's Calendar of Events.
Here are the instructor-led AIB online classes offered during January. All you need is a computer, printer and Internet access. (Classes with an asterisk * require Microsoft Excel Software.) Please register two weeks in advance to secure a seat in the class.
Analyzing Financial Statements*, 16 weeks, $505, Jan. 9
General Accounting*, 16 weeks, $505, Jan. 9
Managing Funding, Liquidity, and Capital*, 6 weeks, $625, Jan. 9
Principles of Banking, 16 weeks, $425, Jan. 9 & Jan. 23
Consumer Lending, 16 weeks, $425, Jan. 17
Law & Banking: Applications, 16 weeks, $485, Jan. 17
Principles of Banking Accelerated, 10 weeks, $355, Jan. 17
ABA Online Review Course for the CRCM Exam, 8 weeks, $695 Jan. 23
ABA Online Review Course for the CTFA Exam, 12 weeks, $795, Jan. 30
Economics for Bankers, 16 weeks, $425, Jan. 30
Affinion's Customer Appreciation Program has been increasing customer retention among its clients for two decades. The program allows your bank to offer a $1,000 Accidental Death and Dismemberment policy to customers as a sign of your appreciation for their loyalty and business. Endorsed by the both the American Bankers Association and the Georgia Bankers Association, the Affinion program provides a no-cost, no-risk opportunity to express your appreciation and earn ongoing fee income. For information, contact Misha Bleymaier at 615.764.2492
Now is an Excellent Time to Talk with Deluxe
GBA partners with Deluxe Corp. for its check printing services because Deluxe offers high-quality check products and Deluxe checks ship in a flat pack that saves you money. Deluxe offers competitive prices for all its valuable products and services, and we strongly recommend you take a look at what Deluxe can offer your bank before extending your check-printing agreement this year. We are confident Deluxe will show you the potential for savings beyond your current vendor's arrangement. For more information, please call Deluxe's Kevin Jefferson at 336.676.0321.
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 - Federal Reserve Bank of Atlanta
William H. Rogers, Jr., President and CEO, SunTrust Banks, Inc., was elected to a three-year term on the Atlanta Fed's board of directors.
Atlanta – Private Bank of Buckhead
Private Bank of Buckhead recently celebrated its fifth anniversary by donating $5,000 to Atlanta Habitat for Humanity.
Augusta – Georgia Bank & Trust
Frederick Gesell has joined the bank as SVP and Compliance Officer. A. Loran Adams has joined the bank as SVP and Internal Auditor.
Columbus - Synovus Financial Corp.
President and CEO Kessel D. Stelling has been named Chairman effective January 1. D. Wayne Akins has been named Chief Community Banking Officer.
Moultrie – Southwest Georgia Bank
Congratulations to Executive Vice President C. Wallace Sansbury, who will retire at the end of 2011 after a 45-year career in banking. R. L. "Andy" Webb, Jr., has been named Chief Credit Officer. John Cole, Jr., has been named Chief Operating Officer. Jeffery Hanson has been named Chief Banking Officer. Danny Singley has been named President-Moultrie Region, Jeffrey Judson Moritz has been named President-Valdosta Region, and David Shiver has been named President-Sylvester Region.
Savannah – The Savannah Bancorp
CEO John C. Helmken, II has been appointed to serve as Georgia's representative on ABA's Government Relations Council Administrative Committee.
Washington D.C. - OCC
Michael Sullivan has been appointed Deputy Comptroller for Risk Analysis.
Chairman, President and CEO of Private Bank of Buckhead,
Charlie Crawford (left) and staff
50 Hurt Plaza, Suite 1050 | Atlanta, Georgia 30303 | 404.522.1501