www.gabankers.com

Prepare for e-Exams
Regulators visiting your bank in the next six to12 months are tuned to something new now that Y2K emphasis is history.  Examiners want to make sure that all banks are compliant with technology requirements in the areas of security and privacy.  Banks that need to know what is required to satisfy these regulations should attend the day-long Internet Compliance seminar.  It is being offered only once, on May 3, at the Renaissance Waverly Hotel in Atlanta.  This program is strongly recommended for Compliance Managers, Auditors, Bank Counsel, Web Masters and Marketers.  It will be intensive and will cover the new privacy regulations, electronic banking definitions, the Fed’s new e-regs and marketing implications, e-mail regulations, common violations and what to expect in examinations. We are expecting a large attendance, so register today to reserve your seat.  Please call GBA’s Marybeth Jones at (404) 420-2032 or Alan Van Tuyl at (404) 420-2033 for more information or to register.

Federal Legislative Issues
State Legislative Issues
Georgia House of Representatives
Georgia State Senate
U.S. Congress
Bank Regulators

GBA Chairman-elect  E.J. “Jud” Vann, IV  President  Planters & Citizens Bank Camilla

“We need to get behind both of these bills to ensure Congress focuses on the need for continued competitive equality between banks and other financial service providers.  For example, the credit unions are already able to get rebates from their insurance fund when it is over-funded.  We can put these funds to better use  in our communities.”

Banking Bills Moving in D.C.
Two bills of significant interest to bankers have begun moving in the Congress.  H.R. 4067, the Business Checking Modernization Act, is designed to help banks compete for small business customers by allowing banks to make transfers every business day from interest bearing accounts into their checking accounts.  Under current law, banks are prohibited from paying interest on corporate checking accounts and many of our members, primarily community bankers, have told us that these deposits are flowing out of the bank.  Many larger banks have offered sweep accounts for some time, but most smaller banks have not been able to develop such a product.   The bill was reported out of the House Committee on Banking and Financial Services.  Also expected to be reported out of committee is legislation, H.R. 4082, that would comprehensively reform the FDIC act.  Some of the key components of the bill are provisions that would index the $100,000 coverage to let it rise with inflation, cap the actual amount of money in the fund to keep it from growing without limit, authorize excess funds over the cap to be used to pay off FICO bonds and once these bonds are retired, then rebates would be authorized.  The FDIC still would maintain authority to adjust reserves to account for expected economic upheavals and industry downturns. 

Calendar of Events
Schools
Conferences
Seminars
Georgia AIB
Professional Development Guide
Internet Training

Only Eight Places Remain for 
Georgia Banking School
Our maximum class size for the Georgia Banking School at the University of Georgia Continuing Education center is 70 students. GBS registration has continued to grow in each of the past four years and the rate of registration this year indicates that the maximum will probably be met. So, if you have a candidate, you need to let us know as soon as possible.  Registrations will remain open for another two weeks or until these eight places are filled.  Call GBA’s Marybeth Jones at (404) 420-2032 to register. 

Spring AIB Classes Begin Next Monday
Now that daylight saving time has arrived, the extended daylight hours are perfect for attending an AIB class.  Summer vacations have not yet started and school is still in session.  It’s an ideal time to pick up information, skills, and ideas useful to your career or current job responsibilities.  What’s more, it’s fun and even more fulfilling when pursued with a co-worker.  Classes start the week of April 17.  See the AIB Advantage for a class listing or call GBA’s Edie Canales at (404) 420-2034 for more information.

Internet Training Available for A Yearly Package Price
Georgia bankers who have used our GBA Internet training through IBT Financial have told us they liked it and have made some good suggestions we’ve been able to accommodate.  Veteran and new users will enjoy Internet-based training even more now that new package pricing has been introduced.  To make payments and access easier for all employees, your bank can pay a one-time fee based on the number of employees in your bank.  For this fee, every employee of the bank has open access to all courses in the curriculum whenever they want it, as often as they want it, all year long, night and day.  For example, a bank with 51-75 employees would pay only $899 per year for unlimited access to all IBT Internet courses through a licensed, protected password.  With 48 courses, growing to 60 by summer, this offer is one that only gets more valuable the more often it is used.  Having every employee take the “Ethics for Banking” course would cover the costs of the year’s license!  The GBA commends our IBT partners for making such high quality, banking specific training so easily available.  On the GBA website home page at www.gabankers.com you will find a complete course directory and a free course demonstration.  For details about this or other bundled course packages, please contact GBA’s Alan Van Tuyl at (404) 420-2033 or IBT Financial directly at their toll free number, 1-877-275-4428.

Filling the Gap
An environmental insurance product has been developed to respond to lenders’ needs who make loans secured by real estate – the Secured Creditor Impaired Property Policy, from GBA’s strategic partner AIG Environmental. The policy addresses environmental exposures of lenders, which include the loss of value of the collateral securing a loan, lender liability under CERCLA, liability for environmental conditions at REO properties and the impact of environmental conditions on a borrower’s ability to make loan payments. The AIG policy affords coverage for loss arising from a loan default accompanied by a pollution condition. In addition, the lender also knows it is protected for other environmental liabilities that might arise during the loan workout and property disposition process. Lenders can now transfer the risk from their due diligence process to a third party through the insurance contract. Also, the coverage is available for a policy term that exceeds the actual length of most commercial real estate loans – up to 20 years. AIG has a flexible policy structure to address the needs of many different business strategies and loan policies. For more information please call Richard Calvert at AIG (303) 382-8548 or GBA’s Renee Valdez at GBA (404) 420-2036.

More Banks Linked
Welcome to the Bank of Dudley and Cumberland National Bank, St. Marys.  They are the latest banks to link to GBA’s website at www.gabankers.com.  Call GBA’s Lydia Thomas at (404) 420-2039 when your bank is ready to be linked.

Athens, Athens First Bank & Trust
Phil Bettendorf has been named Group Vice President and Marne Matthews has been named Senior Vice President.

Atlanta, Citizens Trust Bank
President and CEO Jim Young announces the bank has assumed all the deposits and purchased most of the assets of Mutual Federal Savings Bank also of Atlanta. 

Fitzgerald, Colony Bankcorp, Inc.
The company announces the acquisition of Georgia First Mortgage Company which will continue under the management of President Leroy Beckham.

Macon, Rivoli Bank & Trust
Edward P. Loomis has been elected to the bank’s Board of Directors and Jordan M. Michael has joined the bank as Senior Vice President of Commercial Lending.

Marietta, Charter Bank
Bill Hilley has been promoted to Senior Vice President and that Clark Hungerford has joined the bank as Executive Vice President and Charles A. Aiken as Vice President and Branch Manager.

Trenton, Bank of Dade
Edward R. Brown has joined the bank as Loan Officer.

Wrens, First State Bank
Ted Johnson has retired after 36 years of service and Joe Gore has been named President and CEO.

For more information, send an e-mail to the Webmaster.