|Home I GBA University I Member Services I Volunteers I Government Relations I Calendar of Events I Jan. 7, 2011|
The ball gets rolling on the Georgia General Assembly's annual session next week. So, stay tuned for lots of news and updates. Governor-elect Nathan Deal and other constitutional officers get sworn in Monday. And the House and Senate leadership positions will also be announced, so we'll know which legislators will be leading the key committees that deal with banking legislation. As usual, we're excited about our annual Legislative Reception and Legislative/Economic Update Wednesday, Jan. 12. We've got a great crowd signed up for both, but we encourage you to join us if you haven't made your plans yet. Confirmed speakers for the Update session are Rep. Wendell Willard, chairman of the House Judiciary Committee, Joe Keating, Chief Investment Officer, CenterState Bank, NA, for an economic update, Secretary of State Brian Kemp, and Commissioner Rob Braswell with the Georgia Department of Banking and Finance. Other legislators are waiting on final announcements about chairmanships, so we'll update the speaker list next week. Also meeting next week are the GBA Board of Directors, the GBA Services, Inc. Board of Directors and the Leadership GBA Executive Committee. With questions, contact Joe Brannen, 404.420.2026, or Elizabeth Chandler, 404.420.2027. With questions about the Legislative Reception and Legislative/Economic Update, contact Susie McGehee, 404.402.2010.
The Georgia Special Tax Council is expected to publicly lay out its recommendations Tuesday for restructuring the state's tax code. There's still a bit of mystery about just what they'll propose. A.D. Frazier, chairman of the Council, has said the suggested changes will be revenue-neutral to the budget and will focus on reducing but not eliminating entirely, the state's individual and corporate income taxes while broadening the state sales tax so that it is levied on services as well as tangible goods. Another thing we've heard mentioned is a possible sales tax on certain financial services. We don't know what that means, so it's something to watch. Earlier in the Council's study period, GBA provided the Council with a white paper on the current gross-receipts tax scheme used by banks and has recommended that process remain in place. The Legislature is required to consider the Council's recommendations this session, and in an interesting quirk of how the law passed last year is structured, the entire package will get either an up or down vote during this session. With questions, contact Joe Brannen, 404.420.2026, or Elizabeth Chandler, 404.420.2027.
There was quite a bit of positive news this week to share about banking in Georgia. The story about the new capital investment in Montgomery Bank and Trust, Ailey, got significant attention as a positive sign. We're glad to see a success story of a community bank raising significant new capital, said Joe Brannen, GBA president and CEO, in reports by the Atlanta-Journal Constitution, Atlanta Business Chronicle and Ailey/Vidalia-area media. The AJC also reported that SBA loans increased by nearly 52 percent during the fourth quarter and total business loans not backed by real estate by Georgia-based banks have increased for three straight quarters. Total commercial and industrial loans to companies of all sizes are up 6.2 percent to $32.47 billion. Also detailed was a Federal Reserve report noting demand for traditional business loans by companies of all sizes increased in October and November, after steady declines for nearly two years. Named in the story were GBA members Cornerstone Bank and Private Bank of Buckhead. Atlanta's NBC TV affiliate, WXIA, aired a nice story about SBA Lending, as well, featuring Edward Cooney, President of Affinity Bank, Sandy Springs, There was other positive news, too, out of the manufacturing sector. The Institute for Supply Management said the manufacturing sector expanded for the 17th straight month in December, and factory orders grew again in December for the eighth straight month.
Check out the latest version of the Georgia Department of Banking and Finance Bulletin for news about the Supervision Division. It says effective Dec. 31, 2010, the Department began operating with one less district - (District 3, College Park). The vast majority of community banks that were assigned to that district will now fall under District 2, Loganville. The responsibility for the oversight of SunTrust and the credit unions formerly in District 3 will now fall to District 1, Woodstock; while the oversight of Synovus Bank will now fall to District 5, Tifton. More details are available here.
President Obama today named William M. Daley as his Chief of Staff. Daley was most recently a senior executive with JPMorgan Chase, and formerly a commerce secretary with the Clinton administration. At JP Morgan Chase, Daley was responsible for its Midwestern operations. Daley is the brother of Mayor Richard M. Daley of Chicago. Here's a link to the New York Times story about the appointment.
IOLTA Update: FDIC Updates Notification Requirements
There were two news items of note out of the Consumer Financial Protection Bureau (CFPB) this week. To meet the requirements of regulating nonbank financial companies, the CFPB and state regulators announced an agreement to share information and practices. The memorandum of understanding between the CFPB and Conference of State Bank Supervisors says they will consult on the standards, procedures and practices they use for examining financial-services providers, including nonbank mortgage lenders, mortgage servicers, private student lenders and payday lenders. Georgia banking Commissioner Rob Braswell will be at GBA's Legislative/Economic Update Jan. 12 to talk a little more about that and other issues. Also, Holly Petraeus has been hired to head bureau's Office for Service Member Affairs to be a watchdog advocate for members of the military. Petraeus, the wife of Gen. David Petraeus, top U.S. commander in Afghanistan, testified before Congress about military family financial issues during debate about the Dodd-Frank Act, particularly focused on auto-dealer lending programs.
Federal regulatory agencies announced in a financial institution letter this week that they expect the system for federal registration of residential mortgage loan originators (MLOs) to begin operation on or around Jan. 31. The Agencies' rules implementing the S.A.F.E. Act, which is intended to improve the accountability and tracking of residential MLOs, enhance consumer protection, reduce fraud, and provide consumers with easily accessible information regarding an MLO's professional background, will require MLOs to register with the Nationwide Mortgage Licensing System and Registry (Registry) within 180 days of the date the Registry begins accepting federal registrations. The Agencies will confirm the opening date for federal registration closer to the actual date and will publish notice of that date in the Federal Register. Presently, the Agencies expect the initial registration period to expire on July 29, 2011. After the initial registration period expires, MLOs will be prohibited from originating residential mortgage loans until they successfully complete the federal registration process. The Agencies' rules provide a de minimis exception whereby MLOs that originated five or fewer mortgage loans during the previous 12 months are not required to complete the federal registration process.
2010 BankPAC Campaign Closeout
Contributing at the end of 2010 to the GBA FedPAC were officers and directors of Community Bank and Trust - West Georgia, LaGrange, Bill Stump, President & CEO. Our thanks again to all of the bankers across Georgia who contributed to the 2010 BankPAC campaign enabling the GBA to represent your interests during this important election season. For more information, please contact Elizabeth Chandler at 404.420.2027.
The U.S. Department of the Treasury recently announced a new rule requiring all federal benefit and nontax payments to be paid electronically. Anyone currently receiving federal benefit checks will need to switch to an electronic payment option by March 1, 2013. People applying for Social Security, Veterans benefits or other federal benefits on or after May 1, 2011, will receive their payments electronically starting with their first payment. People who do not choose an electronic payment option such as direct deposit at the time they apply for federal benefits or who do not switch by the deadline will receive their benefit payments via the Direct Express Debit MasterCard card. Sign up online at www.GoDirect.org
This interactive one-day seminar will help you deal with the obstacles and challenges you face when conducting employee investigations. Some of the topics to be covered include:
GBA will host its Employee Investigations seminar Jan. 18, at Idle Hour Country Club in Macon. The registration fee is $225 per person and $175 for any additional registrants from the same institution. Amos Welch, CFE, CPP, Vice President, Regional Manager of Corporate Investigations at BB&T, Atlanta, will lead the workshop. Click here to register. With questions, please contact GBA's Courtenay Pope at 404.420.2015.
Financial Risk Management Conference: Jan. 19-20
Join Chuck Phelan, Director of Treasury Management, TIB-The Independent BankersBank as he provides a detailed examination of the newly required Correspondent Concentration Risk Guidance during this year's Financial Risk Management Conference around the corner, Jan. 19-20, 2011, 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 now by calling the hotel directly at 770.953.4500. Click here to register. Please contact GBA's Marybeth Jones at 404.420.2032 with questions.
Please join us for the GBA-U's Bank Trainer Peer Group on Wednesday, Jan 26, at Georgia Bank and Trust Company Training Center, Martinez. Our guest speaker for this meeting will be Chris DiLorenzo, President of The James Paul Group, Duluth. He will address the constant challenges of how to recognize training opportunities through observations and interviews, product knowledge testing and post training evaluations and measurements. We will finish up with an open forum discussion. Click here to register. With questions about the meeting, please contact GBA's at 404.420.2034.
This Problem Loan seminar is designed to provide participants with skills to support early recognition of problems, assessment of client viability, alternative courses of action for the lender and decision support for choosing appropriate actions. This one-day course will cover workout issues and is intended to optimize the resolution of problem loans in the bank's commercial portfolio. Participants will learn about handling individual loans as well as portfolio management. Dr. Ruediger Mueller CTP, President of Turnaround Consulting & Management International, Inc. in Suwanee, is the instructor. The seminar is Jan. 26 at Idle Hour Country Club in Macon. Registration is only $225 for members and $175 for any additional registrants from the same institution. Click here to register. With questions, contact GBA's at 404.420.2015.
As the industry emerges from the recent acute credit and liquidity crisis, financial service organizations now face the challenges of evolving customer needs, ongoing changes in the economic landscape and the impact of new regulatory requirements.
A strong community banking system is critical to the health of our country's local economy. But what does the future hold?
The 2011 Southeastern Bank Management and Directors Conference will address these critical questions and more as senior banking executives from across the Southeast join forces to develop business strategies for the future. The conference is scheduled in two locations: Feb. 1 at the Mansion on Forsyth Park, Savannah and Feb. 10 at the Gwinnett Center, Atlanta. These one-day conferences are organized and directed by Dr. James A. Verbrugge, Emeritus Professor of Finance and Chair of Banking at the University of Georgia, who is involved in executive education and the EMBA program at the Terry College of Business and serves on several corporate boards of directors.
Please note that this seminar has been rescheduled form its original date of Jan. 27 to a new date on March 3. This one-day workshop is designed to introduce and utilize a comprehensive and consistent approach to analyzing commercial financial statements. Emphasis is placed on a practical methodology to assist bankers in evaluating the creditworthiness of a company. GBA will host the Analyzing Commercial Financial Statements seminar March 3, at Idle Hour Country Club in Macon. The registration fee is $225 per person and $175 for any additional registrants from the same institution. Mike Allen from State Bank & Trust Company will lead this seminar. Click here to register. With questions, please contact GBA's Courtenay Pope at 404.420.2015.
Organizations are increasingly relying on third-party service providers for a variety of technology-related services. Financial institutions outsource many areas of their operations to third-party vendors, including all or part of their business processes, key applications and technology infrastructure. Join Mike Morris, Porter Keadle Moore, LLP, as he covers the risk management process for evaluating and monitoring vendors. He will also cover the upcoming changes in third-party reporting that will affect the vendor management process. The Operations and Technology Conference is March 2-3, 2011, at the Cobb Galleria Centre in Atlanta. The conference brochure will be available soon. Click here to register. For more information, contact GBA's Marybeth Jones at 404.420.2032.
Key Updates about HMDA, CRA, and
IRAs and More
With questions or details please call GBA's Courtenay Pope at 404.420.2015
Webinars: CIP, Appraisals, and Bank Litigation among Highlighted Offerings
A GBA Webinar is a great way to quickly get the training you need right from the comfort of your office. Here's a sample of upcoming offerings. Check the Calendar of Events for any webinars you're interested in at www.gabankers.com.
All webinars are live and allow time for questions and answers. The $255 registration fee gives you access to one web site "seat," one telephone site license and all handout materials. If you can't attend the webinar, you may buy the audio CD, handout materials and a password to see the information online. With questions, please call GBA'sat 404.420.2015.
Here are the instructor-led AIB online classes offered in January. These courses are instructor-facilitated with weekly assignments and can be taken from your home or your office. 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.
Financial Marketing Solutions (FMS), a Strategic Partner of the GBA, is a niche branding and marketing agency solely serving the financial services industry. Encouraging clients to tap into the power of "brand" in a fresh new way, FMS empowers banks across the country to ramp up their marketing, maximizing marketing dollars and delivering measurable results to the bank's bottom line via traditional mediums as well as online channels such as e-mail marketing, social media marketing, blogs, online display advertising, search engine optimization, search engine marketing and mobile marketing. Through a strategic discovery process, FMS partners with your bank to narrow corporate initiatives into real and attainable goals, uncover and enhance your brand, create an identifiable image, and develop customized marketing solutions that can be tracked and integrate seamlessly across all channels and throughout all locations
Deluxe Financial Services works closely with financial institutions to develop unique experiences that attract and retain customers and grow business. As one of the top check producers in North America, Deluxe combines its history of strong brands and financial institution relationships with its insights into small business. More than just a check printer, Deluxe offers programs that can add to your banks profitability and maximize customer satisfaction. Here are some of the valuable programs offered by Deluxe:
Deluxe Financial Services works closely with financial institutions to develop unique experiences that attract and retain customers and grow business. For more information, please contact Deluxe's Bob Hicks at 317.873.5572, Brandt Tefft at 941.223.7394, Angelia Grey at 800.332.4234 x159340, or GBA's Bogan Brannen at 404.420.2014.
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Atlanta - Fidelity Bank
William C. Lankford, Jr. has been elected to the Board of Directors for the bank and to the Board of Fidelity Southern Corporation.
Columbus - Synovus
Many thanks to the soon-retiring Elizabeth R. "Lee Lee" James for her years of service for our industry.
Griffin - United Bank
Ryan Tucker has joined the bank's Thomaston division as Senior Vice President and Senior Lending Officer.
Macon - American Pride Bank
Shelly Winger has been promoted to Compliance Officer. Terry Peebles has been promoted to Branch Manager and Banking Officer.
Macon - State Bank and Trust
April Shaffer has been named Credit Services Manager.
Moultrie - Ameris Bank
Andy Cheney has been named President of the Bank.
Moultrie - Southwest Georgia Bank
Jeff Hanson has been appointed Executive Vice President. Jud Moritz has been appointed Senior Vice President. Leanne Balanis has recently joined the Bank as Assistant Vice President, deposit and cash management. Patrick Brown has recently joined the Bank as Assistant Vice President, Commercial Lending.
Tifton - South Georgia Banking Company
Our sympathies to Chairman and CEO Pait Willis whose mother, Bernice Willis, recently passed away.
Atlanta - Kilpatrick, Townsend & Stockton, LLP
On Jan. 1, Kilpatrick Stockton merged with Townsend, Townsend and Crew. The name of the firm has changed to Kilpatrick, Townsend & Stockton LLP.
Atlanta - Mauldin & Jenkins, LLC
Mauldin & Jenkins, LLC, announces the addition of CPA Associate Evers & Fox, PC, Atlanta.