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KBW Chairman and CEO John Duffy, CFPB's Elizabeth Vale Confirmed as Keynote Speakers
We've nailed down a pair of huge industry names as book-end speakers for this year’s GBA Annual Convention in Atlanta June 20-21. Opening the convention at the luncheon session June 20 will be Elizabeth Vale, the Consumer Financial Protection Bureau's (CFPB) Assistant Director for community banks and credit unions. And, we're honored that John Duffy, Chairman and CEO of Keefe, Bruyette & Woods, Inc. (KBW) will be our closing speaker. Here's a little background about both. Before joining the Treasury Department in September and being named to the top community bank post at the CFPB in February, Vale worked as the White House business liaison and executive director of the White House Business Council. A Pennsylvania native, Vale also was a longtime community banker with history at Philadelphia National Bank and CoreStates Investment Advisors, and she was a managing director for Morgan Stanley. Check out a video of Vale from the CFPB by clicking the image on the right, and take a look at an article she wrote for the CFPB web site recently. Duffy has been with KBW for 30 years, having been elected Chairman and Chief Executive Officer in September 2001. Prior to that he was President and Co-Chief Executive Officer, a position he assumed in July 1999. If that September 2001 date catches your eye, it should. Duffy ascended to the Chairman and CEO role in the wake of the 9-11 terrorist attacks on the World Trade Center. KBW lost one-third of its staff, including its Chairman and co-CEO, five of its nine board members, and its most prominent financial analysts. Duffy lost his son in the tragedy, as well. In addition to this devastating loss of life, the company lost its headquarters, along with every scrap of paper documentation that was kept there. Take a peek at the book Duffy wrote about it all. As we approach the 10-year anniversary of the 9-11 attacks, Duffy will share the story of his company's rebirth and continued prominence, lessons that can be applied as we move ahead with economic recovery for our industry and his views on the state of the industry. Don't miss the unique opportunity to hear these industry leaders, be inspired and learn from your peers during the other great sessions. Register today for the convention. GBA has reserved a block of rooms at The St. Regis at a reduced rate of $219 per night for single or double occupancy. Reservations may be made by calling the hotel directly at 404.563.7900. Be sure to say you are with the GBA to receive this special rate. The cut-off date for hotel reservations is May 28. With questions about the convention, please contact GBA’s Susie McGehee at 404.420.2010.
A settlement proposal that would radically change the foreclosure and mortgage modification process has been offered to the five largest mortgage servicers. Iowa Attorney General Tom Miller, who is leading the 50-state investigation into mortgage foreclosure problems, said he hopes to have a settlement in the next two months. The 27-page proposal favors principal reductions as the first option for mortgage modifications and is loaded with specifics for other areas. As reported in the March 8 American Banker, "The term sheet covers virtually every detail of how servicers operate, laying out new requirements for mortgage documentation, interaction with borrowers, relationships with active military personnel, loan modifications, principal reductions, bankruptcy proceedings, short sales and technology systems. It even includes a proposed requirement that servicers enter into a contract with retailers such as Wal-Mart Stores Inc. or FedEx's Kinko's to enable borrowers to fax modification documents to banks free of charge, in addition to ordering servicers to create web sites to allow borrowers to upload documents directly." Here's a copy of the proposal. With questions, contact Joe Brannen, 404.420.2026, or Elizabeth Chandler 404.420.2027.
Pending Home Sales in Georgia increased by 10.5 percent since January 2010, with 6,088 agreements signed in January 2011, according to the Georgia Association of Realtors (GAR). “The market for pending home sales is up compared to the national average, and that makes me optimistic that the Georgia housing market is headed upward in 2011,” said 2011 GAR President, Anne Gault. Other findings from the report include:
Georgia led the nation in new business startups in 2010, and Atlanta tied for the second-most among the 15 largest metro areas, according to the Kauffman Index of Entrepreneurial Activity, produced by the Kansas City-based Kauffman Foundation. Last year in Georgia, 510 people per 100,000 started a business and in the metro-Atlanta area, 580 people per 100,000 launched a business each month. The study said the nationwide startup rate in 2010 remained at its highest level in the 15 years. The data shows the construction industry had the highest rate of entrepreneurial activity, followed by services. Read more details from the study about start-up businesses in 2010…
Efforts continue to hike the business-lending cap for credit unions. Colorado Sen. Mark Udall this week introduced a bill (S. 509) that would raise the cap from 12.25 percent to 27.5 percent, which is higher than the 25 percent cap proposed in previous legislation. We remain opposed to this effort. The closest an individual Georgia credit union comes to this cap is 8.7 percent. With questions, contact Elizabeth Chandler 404.420.2027, or Joe Brannen, 404.420.2026.
A move is underway in the U.S. House of Representatives to end several foreclosure-prevention programs. The House Financial Services Committee Wednesday approved bills to end the Home Affordable Mortgage Program (HAMP) and the Neighborhood Stabilization Program (HR 861). President Obama is on record saying he will veto the bill to end HAMP (HR 839) should it reach his desk. The full House is slated this week to vote on bills to end the FHA Refinance Program (HR 830) and the Emergency Mortgage Relief Program (HR 836). We'll keep you posted on the progress of these bills as they move through the legislative process.
In a move for consistency, the Office of Thrift Supervision issued a proposal to amend its advanced risk-based capital adequacy standards to match Dodd-Frank Act provisions that set insured depository institutions’ capital standards as the floor for holding companies and nonbank financial companies. Dodd-Frank requires that capital standards for holding companies and other institutions may not be “quantitatively lower” than those of insured depository institutions. The proposal’s comment deadline is May 9. With questions, contact Elizabeth Chandler 404.420.2027, or Joe Brannen, 404.420.2026.
The Federal Reserve last week requested public comment on proposed amendments to Regulation CC that would encourage banks to clear and return checks electronically, add provisions that govern electronic items cleared through the check-collection system, and shorten the "exception" hold periods on deposited funds. The proposal includes amendments that would:
Comments on the proposal are due June 3, 2011.
New Resource - a $49 Special
A new rule affecting the garnishment of accounts that contain federal benefit payments will go into effect May 1. Currently, banks are faced with difficult decisions when dealing with the garnishment of these accounts, which have occasionally led to liability for banks and potential hardships for depositors. By changing the procedures that banks must follow when they receive a garnishment, the new rule aims to remedy these problems and create workable solutions. To help you sort out this new rule, GBA will host a telephone briefing, Interim Rule on Garnishments, on Thursday, March 28, at 2 p.m. Join Bill Custer and Julie Fenwick with Bryan Cave, LLP, Atlanta, as they discuss how the new rule affects your organization and what your bank needs to be doing now to bring itself into compliance. The presentation will include a brief discussion of the current state of garnishment law, a detailed look at the provisions of the new rule, and step-by-step instructions for banks to follow when implementing these new procedures. The registration fee is $49 and you can click here to register. With questions about the telephone briefing, contact GBA’s Courtenay Pope at 404.420.2015 or Susie McGehee at 404.420.2010.
GBA's Operations and Technology Committee put together an outstanding conference last week, as we reported. A special thank you to our sponsors: Gladiator Technology, Inc. for the reception, Safe Systems, Inc. for the continental breakfast and Fiserv, Inc. for the refreshment break. And, we certainly appreciate all of our exhibitors who were there, too. Please click on a company for more information about them: Consolidated Banking Services Inc., Ntersect Networks, Inc., Cybervault Services, Inc., Safe Systems, Inc., Federal Flood Certification Corp., ACG, High Cotton, and GACHA. For more information about the conference or about volunteering to serve on the committee, please contact Marybeth Jones at 404.420.2035.
Join Tim O’Rourke, president & CEO, Matthews, Young - Management Consulting, as he delivers the keynote address at the annual GBA HR Institute. In the book, Good to Great, author Jim Collins talks about the importance of getting the right people on the bus, and the wrong people off the bus, before driving where you need to go. If you don’t know where you are going, any road will get you there and anybody can ride that bus. O’Rourke will discuss that concept and how a good HR strategy and implementation can attract the right passengers and mechanics, make the ride comfortable and, most importantly, help the driver decide where the bus needs to go. The HR Professionals Institute is March 16-18 at the Cobb Galleria Centre in Atlanta. Register here. For more information, contact GBA’s Marybeth Jones at 404.420.2032.
Join Bill McCracken, Synergistics Research Corporation, as he reviews the top 10 trends facing banking in the next few years from the perspective of what marketing professionals should be preparing for. These trends will include areas such as bank branches, checking accounts, debit and credit cards, ATM’s, online banking, auto lending and mobile banking. Also, these trends will touch on payments, social media and small business banking. This year’s Marketing and Communications Conference is March 17-18 at the Cobb Galleria Centre in Atlanta. Click here to register. For more information, please contact Marybeth Jones at 404.420.2032.
Don’t miss the opportunity to leading industry experts who will focus on the many issues facing financial institutions today at the Southeastern Community Bank Symposium. This event is March 23 at Forest Heights Country Club, Statesboro. Dr. Roger Tutterow, Professor of Economics at Mercer University, Atlanta will be on hand to provide an economic outlook for 2011-2012, including Southeastern Georgia. Other topics to be covered include regulatory issues and trends arising from the Dodd-Frank Act; feasibility and potential impact of federal guarantees for community banks’ small business lending programs; new regulatory guidelines and the need for new board policies in the areas of interest rate risk; accounting and auditing issues in key areas of loss impairment, appraisals and loan reserve adequacy and much more. Take advantage of the special pricing structure by registering several people from your bank for this event. The registration fee is $120 for the first attendee and $95 per person for each additional attendee. Click here to register. With questions, please contact GBA’s Susie McGehee at 404.420.2010.
FHLBank Atlanta will be hosting a free one-day workshop March 24 that will cover FHLB’s Credit and Collateral policies and the 2011 Collateral Verification Review (CVR) process. This session is designed to help FHLB members manage their borrowing capacity. It will provide detailed information on collateral eligibility, a bank’s collateral market valuation methodology, subprime and nontraditional loan guidelines, and the CVR process, including documentation requirements and the exception clearing process. Click here to register. With questions regarding the workshop, please contact FHLB’s T.J. Millard at 404.888.8563.
This seminar will walk you through how the income tax expense is computed, the practical aspects of making estimated payments and what creates the deferred tax balances that remain on your balance sheet. This class will also cover the basics of your bank's income tax calculation including current and deferred tax, valuation allowances, and multistate tax. We will review the Financial Statement footnote disclosures, including how to prepare them, the disclosure requirements under FIN 48, and the computation of the amount of a deferred tax asset that is disallowed from your computation of Tier 1 Capital on the Call Report. GBA will host the Understanding Income Taxes Seminar March 24, at Idle Hour Country Club in Macon. Registration is $150 for members and $100 for any additional registrations from the same institution. Adam Polokav and Janet Sammons with Porter Keadle Moore, LLP will be the instructors. Click here to register. With questions, call GBA’s Courtenay Pope at 404.420.2015.
Reg. Z Discussion Headlines Compliance Peer Group March 30
Please join us for the GBA-U’s Compliance Peer Group on Wednesday, March 30, at Idle Hour Country Club, Macon. Our guest speaker for this meeting will be Brad Washburn, CRCM, CAMS, Financial Institution Specialist, Compliance Division of Steve H. Powell and Company, Statesboro. Brad will cover the new Regulation Z Truth in Lending requirements for which compliance is mandatory April 1. We will finish up with roundtable discussions. With questions about the meeting, please contact GBA’s Alison Moreau at 404.420.2034.
The GBA-U Collections and Recovery Seminar is scheduled for April 6, at Idle Hour Country Club in Macon. This seminar will provide a comprehensive overview of fundamental legal principles involved in the collection process. After completing the seminar, participants will have a working knowledge of the general collection process. The registration fee is $225 per person and $175 for any additional registrants from the same institution. Gary Moser of Moser, Rose and Hayes will lead this workshop. Click here to register. With questions, please contact GBA's Courtenay Pope at 404.420.2015.
FBI Special Agent Chad Hunt will discuss current trends in cyber crimes, identity theft, ACH/wire transfer fraud, and current malware and their capabilities at this year’s GBA Security Conference April 12-13 at the Cobb Galleria Centre in Atlanta. He will also present a general overview of online criminal enterprises and how they operate. RBC Bank Fraud Investigator David Riser will provide a general overview of a recent investigation involving a cyber attack on a customer’s account through a computer virus. This discussion will emphasize the need for a procedural plan in the event of an attack. Kelli Fulford will provide attendees with identity theft resource information to provide customers in the event that they become victims. The Renaissance Waverly Hotel is offering GBA members a special rate of $149. The rate is based on availability, so make your reservations early by calling the hotel directly at 770.953.4500. Click here to register. For more information, please call GBA’s Marybeth Jones at 404.420.2032.
ABA Education Foundation’s annual Teach Children to Save Day is Tuesday, April 12. This program has partnered banks with students for lessons on the importance of saving for 15 years. The program's goal is to encourage bankers to reach 5 million students before the end of 2011.
How Can Your Bank Get Involved?
Deposit and Operations Compliance Seminar - April 19
The registration fee is $225 for members and $175 for any additional registrants from the same institution. Click here to register. With questions, please contact GBA's Courtenay Pope at 404.420.2015.
This two-day seminar provides an in-depth look at loan compliance. It will cover basic compliance requirements, common problem areas, and will offer extensive question and answer opportunities to address individual concerns. We will also complete several "real-world" loan compliance reviews and develop "risk-based" loan compliance "self-audit" checklists. GBA will host its Basic Loan Compliance Seminar on April 14-15, at the Idle Hour Country Club in Macon. The registration fee is $225 for members. Topics to be covered:
GBA has reserved a room block of rooms at the Homewood Suites with a group rate of $109 single or double per night. When making reservations, please ask for the Georgia Bankers Association block. You may call the hotel at 478.477.9776. Click here to register. With questions, please contact GBA's Courtenay Pope at 404.420.2015.
Designed for new accounts representatives, back-up new account personnel, certificate-of-deposit staff, bookkeeping and accountholder service personnel, this one-day seminar will teach new account personnel proper account-opening procedures and compliance requirements. Topics to be covered include signature-card contracts, a CIP Compliance overview, TIN compliance, individual accounts and much more. Patrice M. Konarik of Sunwest Training Corp. in Kendalia, TX will be presenting. The seminar is April 27 in at the Idle Hour Country Club in Macon. The registration fee is $225 and $175 for any additional registrants from the same institution. Click here to register. With questions, please contact GBA’s at 404.420.2015.
Newly elected Agriculture Commissioner Gary Black will be sharing his vision for the Department during this year’s Rural Development and Lending Conference May 12-13 at the Savannah Riverfront Marriott. He will also touch on the challenges of bringing the Department into the 21st Century. Black's session will bring insight to the coming changes during the next several months and years. Other topics include real estate trends, a regulatory update, current legal issues in agriculture, a peer exchange, market trends and an economic overview. For hotel reservations, please call the hotel directly at 912.233.7722. Click here to register. For more information about the conference, please call GBA’s Marybeth Jones at 404.420.2032.
How will recent developments on monetary policy and the Administration’s shift to a more centrist position affect the outlook for the economy and earnings? Is a rise in inflation ahead of us? What is the outlook for common stock prices, interest rates and bond yields for the rest of the year and into 2012? Joe Keating, Chief Investment Officer with CenterState Bank, Birmingham, AL, will help answer these questions and more at Leadership GBA’s 2011 Leadership Conference. The conference is July 24-27 at The King and Prince on St. Simons Island. GBA has reserved a block of rooms at The King and Prince at a reduced rate of $209 to $229 per night. Reservations may be made by calling the hotel directly at 912.638.3631 or 877.543.6077. Be sure to say you are with the GBA to receive this special rate. The cut-off date for reservations is June 23, 2011. After this date, all reservations will be subject to prevailing rate and space availability. Click here to register. With questions about the conference, please contact GBA’s Susie McGehee at 404.420.2010 or Jennifer Stevens at 404.420.2024.
GBA-U will soon host the following in-person seminars. Be sure and check back for additional in-person seminars added to the GBA-U Calendar. For more details and registration information about any of the seminars you're interested in, check the Calendar of Events online at www.gabankers.com.
With questions or details please call GBA’s Courtenay Pope at 404.420.2015.
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’s at 404.420.2015.
Here are the instructor-led AIB online classes offered the month of April. 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.
There is still availability in the following AIB Online classes offered the month of March. Please register as soon as possible to secure a seat in the class.
The GBA has a Strategic Partnership with Deluxe for its check printing services because Deluxe offers high quality and a competitive price. We recommend that you take a look at what Deluxe can offer your bank before automatically extending your check-printing agreement this year. It is important to realize that your current agreement may contain a rollover clause, and if you don’t notify your vendor in advance of a certain date, your agreement may automatically renew, possibly at higher prices. Don’t let that happen. We are confident that Deluxe will show you the potential for savings beyond your current vendor’s arrangement. Deluxe Financial Services works closely with financial institutions to develop unique experiences that attract and retain customers and grow business. Deluxe combines its history of strong brands and financial institution relationships with its insights into small business. And Deluxe is more than just a check printer. Deluxe offers programs that can add to your bank's profitability and maximize customer satisfaction. For more information, please call Deluxe’s Brandt Tefft at 800.332.4234 ext. 159340.
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 take their marketing to the next level—maximizing marketing dollars and delivering measurable results to the bank’s bottom line through 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 and trackable marketing solutions that integrate seamlessly across all channels and throughout all locations. For more information, please contact Sean Hockenbery or Tim Pannell with FMS at 615.591.2073.
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Charter Bank Welcomed as GBA's Newest Member
Please join us in welcoming Charter Bank, West Point, Robert Johnson, CEO, and all of the bank's employees to the GBA family. With total assets of $1.06 Billion, Charter Bank operates 10 branch locations along the I-85 corridor from Auburn, AL to LaGrange, GA. The bank also has three loan offices in Atlanta, Columbus and Newnan, Georgia. More about the bank is available at its web site, linked here.
Atlanta – Midtown Bank
President and CEO Stan Kryder has been elected to serve a 3-year term on the Board of Midtown Alliance.
Barnesville – United Bank
Director Peter Banks was named Citizen of the Year and United Bank was awarded the Lifetime Business Achievement Award by the Barnesville-Lamar County Chamber of Commerce.
Cumming – Community & Southern Bank
Rock Hunt has been named Market President for the bank’s central region operations.
Dublin – Morris Bank
Amanda Peebles has been named Credit Administration Officer.
Gainesville – Peach State Bank &Trust
Wayne Turner has been named COO.
Richmond Hill – Bryan Bank & Trust
CEO, Jimmy Burnsed was recently recognized for his dedicated participation in and service to the Boy Scouts of America.