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STOP I.T.!
Identity Theft Campaign
At the Group
Meetings, GBA announced a major initiative to warn Georgians about the
fastest growing consumer crime in the nation: Identity Theft. GBA Chairman
Ed Milligan, Chairman and CEO of
Main Street Banks, Inc.,
Atlanta,
challenged our members to join him as we undertake efforts to heighten
awareness of the problem through the statewide
STOP I.T.!
public awareness campaign. The theme of the campaign is “Let us
help…we’re all in this together.” The STOP I.T.! Campaign is being
coordinated by the GBA’s
Leadership Division through their
Personal Economics Program (PEP). STOP I.T.! campaign kits,
containing all the materials needed to get started were mailed to all CEOs
in late September. This information is also located on our website. Just
click on the STOP I.T.! icon on our homepage to view and order additional
campaign supplies. If you have not received a kit, or have questions about
the campaign, please call GBA’s
Susie McGehee at (404) 420-2010. With this useful information, we
hope you will help consumers take action in this effort to protect
themselves and stop identity theft!
Research Project Survey
Seda
Palaz, an MBA student at Georgia
State University, is seeking the help of GBA members in completing
a research project on the organizational buying process for a data center
that houses operating systems, network management and other general
aspects of technology. The objective of the study is to explore the buying
behavior of Company Executives/Facility Managers/IT Professionals when
needing to build, move or enlarge their data center. Emphasis is on the
design and/or construction of the outer shell of the facility as well as
the vendor selection process. The survey
should take 5 to 8 minutes. A
summary of the results may be obtained by emailing Seda
with “Send Survey Results” in the subject line.
We encourage our members to assist in this project.
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House Banking
Committee Meets
The House
Banks and Banking Committee met for the last time this year to
prepare for the 2004 session. The subject of the meeting this week was
S.B. 157, legislation which passed
the Senate earlier this year which would ban payday lending. Most of the
meeting was taken up by advocates for the bill. Testimony was received from
consumer and citizen advocacy groups. Jean Ann Fox, head of the
Consumer Federation of America, chastised the legislature for not
acting sooner to outlaw the practice and encouraged the General Assembly to
not legitimize the industry by creating a regulatory structure. Perhaps the
most compelling testimony came from Capt. John Cahoon, Commanding
Officer of the
U.S. Naval Base at Kings Bay, Georgia. Capt. Cahoon spoke of the
problems sailors at the base were encountering with the payday lenders he
described as preying on unsophisticated and unwary service men and women.
The chief legal affairs office for Fort Stewart echoed Capt. Cahoon’s
comments and gave the committee several examples of how the military viewed
payday lenders as adversely affecting defense readiness. A sailor stationed
at Kings Bay gave the committee an accounting of his personal experience
with payday lenders and how his initial $300 advance turned into a current
loan of $4,000 after having paid back over $7,000 in less than 6 months.
Michael Julian Bond, Deputy Director of the
NAACP, testified in support of banning the practice. When asked
what he recommended the legislature do to address the short-term cash needs
of the people seeking out payday lenders, he suggested mandating that banks
offer loans with small denominations, but with low or no fees allowed. The
committee also heard from the industry who asked the legislature to pass a
comprehensive regulatory structure to supervise the more than 1,000
locations in Georgia. Committee Chairman
Johnny Floyd announced the committee would begin writing their own
version of a bill in January. GBA will continue to monitor the legislation
to ensure banks do not get brought into the legislation.
The GBA Insurance Trust is pleased to offer through its subsidiary, Paragon Benefits, the latest technology in cafeteria plan administration – the MBI Flex Card. This card utilizes today’s swipe card technology to allow immediate payment of eligible reimbursements for medical and child care expenses directly from the employee’s account. Therefore, the employee does not have to first pay out-of-pocket for their expense and then file for reimbursement from their employer’s plan. Because of this new payment method, our members can expect greater participation by the employees within these plans which generates larger tax savings for the bank and its employees. It is truly a win-win solution. If you would like to learn more about this new benefit, please call the Holmes/Shaw Agency at (770) 642-2150.
2003 State Legislative
Issues
Governor Sonny Perdue
Lt. Gov. Mark
Taylor
Georgia House of
Representatives
Georgia State Senate
Federal Legislative
Issues
U.S.
Congress
Legislative Updates
Legal Issues
Legislative Reception Reminder
Plans are being
finalized for GBA’s annual
Legislative Reception. This event is slated for
Wednesday, January 14, 2004, from 6:00 p.m. – 7:30 p.m. at the
Hyatt Regency, Atlanta. Invitations have been sent to legislators
and special guests and responses are pouring in daily. We anticipate a
great crowd. It is important that a huge number of bankers attend and show
their support for the banking industry and the association by registering
a contingent of representatives from every bank. If you plan to spend the
night, remember the cut-off date for the special GBA rate of $149 per
night at the Hyatt is December 15. Please call GBA’s
Susie McGehee at (404) 420-2010 with questions about the reception
or hotel reservations. Register representatives from your bank now and
make plans to attend one of the GBA’s most important events of the year.
FCRA Signed
President
George Bush has signed the permanent extension to the
Fair Credit Reporting Act. This legislation will ensure the states
will not be able to pass legislation creating their own methods for credit
reporting.
FDIC-insured commercial banks and savings institutions earned a record $30.4 billion in the third quarter of 2003, marking the third straight quarter that profits set a new high, the FDIC reported this week. FDIC Chairman Don Powell said, “The results of the last year demonstrate that banks are positioned to perform well in both a slow-growth economy, as we’ve had in the recent past, and in the faster-growth economy that we are now seeing.” The increase was due mainly to lower expenses for bad loans and a rise in non-interest income. Georgia banks reported 1.6% Return on Assets and 16.6% Return on Equity, both higher than national averages.
Calendar of Events
Schools
Conferences
Seminars
Events
American
Institute of Banking
Leadership GBA
Personal Economics Program
(PEP)
Internet
Training
Bank Director Seminars Scheduled
Due to
increased challenges and regulatory scrutiny in the banking industry,
outside bank directors are required to play a larger role in understanding
the business operations and strategic direction of their banks. In
response to those challenges, GBA will host a seminar entitled “Understanding
Your Roles and Responsibilities: What Every Bank Director Must Know.”
The seminar is designed to educate outside bank directors in the areas of
financial analysis, risk management, asset quality, capital management,
strategic planning and succession planning. Geri Forehand, Director of
Planning and Development with
Alex Sheshunoff Management Services and a former banker, is the
seminar presenter. The seminar will be held on January 28 in Savannah,
March 10 in Macon, March 11 in Gainesville and May 26 in Atlanta. If you
have questions, call GBA’s
Susie McGehee at (404) 420-2010.
Credit Conference
a Success
Alex
Sheshunoff,
CEO of
Alex Sheshunoff Management Services, L.P.
and Dr. Roger Tutterow, Chair of the Department of Economics
and Finance at
Kennesaw State University,
were key presenters at GBA’s
Credit Conference on December 3-4. Over 100 bankers attended the
event and were able to take back pertinent information to use in their
banks. Thanks to committee chair Bill Stump, Executive Vice
President of Community Bankshares, Inc. in Cornelia, and Vice Chair
Chuck Copeland, President and CEO of
First National Bank of Griffin, and the entire
Credit Committee
for planning such an informative conference.
Introducing AIB’s
IRA Online Institute
We are pleased to
announce a brand new
AIB Online course: “IRA
Online Institute.” The first offering of this course is scheduled to
start February 17, 2004 and will last twelve weeks. The IRA Online
Institute provides comprehensive training on all aspects of IRAs and
covers both traditional and Roth IRAs as well as Employer Plans (SEP
SIMPLE). The Online Institute is an Institute of Certified Bankers approved
education program for candidates for the Certified IRA Services Professional
(CISP) Designation. Learning objectives include identifying eligibility and
set-up requirements for all of these plans, administering contributions
consistent with contribution limits, managing rollovers and transfers,
administering distributions and required minimum distributions, describing
beneficiary options and facilitating beneficiary transactions, managing
error resolution, penalties, and reporting on these accounts and identifying
key elements of successful IRA marketing efforts. The content and instructor
are provided by BISYS Retirement Services and is the same content used in
the BISYS IRA Institute. Tuition is $1,600 and GBA is offering one free
course to the first member bank that calls GBA’s
Edie Canales at (404) 420-2034. In addition, we still have one free
seat in
Retirement Plan Services – Plan Type and Design, starting January
20, valued at $850,
Understanding Your Construction Borrower, starting March 1, valued
at $375 and
Problem Loan Workouts, starting March 1, valued at $270.
Please contact Edie for additional information or to register.
GBA’s annual two-day Advanced Compliance Symposium is a ‘must’ for compliance officers in Georgia. It provides information about new regulations, emphasizes areas of regulators’ greatest concerns, and stimulates discussion about managing the compliance function. Some of the topics to be discussed include Privacy, Customer Identity Verification, the Fair Credit Reporting Act, New IRA Rules, RESPA, Reg O, Bank Secrecy Act and Reg C, HMDA, and HOEPA. This highly professional program is led again by Blair Rugh, Executive Director and Senior Vice President of Kirchman Regulatory Service, a division of Kirchman Corporation. The Symposium will be held at the Crowne Plaza in Macon on January 21-22. Please call GBA’s Susie McGehee at (404) 420-2010 for details or to register.
GBS
Early Bird Registration Deadline
The deadline
for the
Georgia Banking School
“Early Bird” discount is December 31. Take advantage of the $125 savings
by registering for the Class of 2006 now. The Georgia Banking School, a
three year resident and home study program, meets in 2004 at the
University of Georgia April 25-30. Call GBA’s
Marybeth Jones at (404) 420-2032 for details and registration
information.
Retirement Services, Inc.
GBA Services, Inc.
Online Expo
For Sale
Available January 2004:
Temporary Drive-Thru approximately 10' x 14'. $5,000 or best offer. Please
direct questions to Dorsey Thompson, Vice President of Glennville
Bank, at (912) 654-3471.
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Some of the Services Available GBA Services, Inc. is governed by a board composed primarily of community bank presidents who look for the best products and services available. They do the due diligence for you and you can rely on their efforts. For more information on any of these services, please contact Renee Valdez at (404) 420-2036.
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Are You Taking
Advantage of your GBA Member Benefits?
Get the Plans
and HR Tools that Employment Regulators Demand
Affirmative Action Plans (Required for Banks with 50 or More Employees) Take advantage of the system ELC has developed to cost-effectively prepare and update bank affirmative action plans. They use bank-specific narrative language reflecting the significant changes to OFCCP regulations. They also use automated statistical analysis to reduce the burden of data collection and increase regulator satisfaction. You will receive Plans for Women and Minorities, Covered Veterans and Individuals with Disabilities, and the postings, notices, disclosures and forms necessary to implement the plan terms.
Bankers’ HR Toolkit™
The Toolkit™ provides all the essential human resources components
a community bank needs. You don’t have to think about what is required or
whether you have it. It’s all here. With the Toolkit, you get what you
need to: achieve effective selection of new employees; maintain
appropriate policies; manage performance, record retention and
compensation in a compliant manner; and more. When the materials need to
be changed to be compliant with new regulations or best practices, we
refine them for you. This is the banking specific program you have
been looking for. You’re not just getting documents, you’re getting a
complete program, and the reassurance that it has been put together by
employment compliance professionals who are highly knowledgeable and
experienced in banking. The
Toolkit™ is comprised of various sections. Each section has all
the guidelines, forms, checklists, templates and other tools you need,
from drafting a new position description to negotiating a separation
agreement. For more information please contact GBA’s
Renee Valdez (404) 420-2036 or Employment Law Compliance’s
Steve Greene (866) 801-6302.
401(k) Plans Popularity Rising
Does your bank
have a 401(k) Plan in place yet? As we are approaching 2004, it is not
too late to get a plan started for the benefit of your employees next
year. Section 401(k) plans are rapidly becoming the employer-sponsored
retirement plan of choice. 401(k) plans are easy to communicate to
employees and enable employees to participate in the decisions that affect
their benefits under the plan. A recent survey done by
Stony Brook University found that 66% of employees rank good
retirement benefits as more important than salary. The programs offered
through
GBA Retirement Services, Inc. provide flexibility to meet the
needs of any bank or associate member who may be looking to add to or
change their qualified retirement plan. GBA Retirement Services, Inc.
provides high quality, affordable pension, profit sharing, and Section
401(k) programs for banks and associate members of all sizes. Please
contact
Mandy Richards at (404) 420-2025 for more information or to set up
an appointment to start your new benefit in 2004.
Commerce,
nBank
Charles W.
Blair, Jr.,
President and CEO, has been elected Chairman of the Board.
Macon,
SunTrust Bank
Our sympathies to
the family, friends and colleagues of Mike McCloy, Security Training
Officer, on his recent death. Mike has been a popular instructor in GBA’s
Southern Operations and Technology School.
Peachtree City,
Peachtree National Bank
William C.
Crowley, Jr.
has joined the Board and Jon Hughes has been promoted to Banking
Officer–Relationship Manager.
Villa Rica,
Community Bank of West Georgia
Dr. Roger
Tutterow of
Kennesaw State University has joined the bank’s Board of Directors.
Join Our Email Distribution List
A bonus of getting the e-Bulletin
and e-Legislative Update is the number of links that
are included. This is a great way to keep your key employees informed
of significant industry information, trends and events. We
do not disclose email addresses and only use them for internal
communication purposes. Bankers from any member bank can be added to the email
distribution
list
by sending an email containing the name and email address of each
individual to GBA’s Lydia
Thomas.
