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Blue Cross Merger Approved Georgia Insurance Commissioner John Oxendine has approved the merger of Cerulian Companies, Inc., the parent company of Blue Cross and Blue Shield of Georgia, and WellPoint Health Networks, Inc. The transaction is on track to be finalized within the new few days. According to Blue Cross spokespersons, the 70,000 Cerulian shareholders (including around 7,000 long time GBA Insurance Trust participants) will receive cash payouts from WellPoint. We understand capital gains tax will be withheld. Commissioner Oxendine cited the payouts to shareholders and a charitable foundation being set up to also receive a major contribution as among the reasons for his decision. “I think what I did (to approve the conversion in 1995) was the right thing to do. There are 70,000 Georgians who believe it was the right thing.” The only opposition to the merger came from the Medical Association of Georgia. Questions about the payout should be directed to Blue Cross and Blue Shield Shareholders Service at 800-314-2580. |
Banking Expo
Reminder
It’s not too late to register for GBA’s
Banking Expo 2001: Your
Portal to Success. This
year’s Expo will be held March 27-28 at the Cobb Galleria Centre.
A registration form is enclosed with this Bulletin
for your convenience. We hope
you will take advantage of our registration discount by bringing at least
four staff members from your bank to this event.
In addition to almost 100 exhibitors, eight educational sessions
will be held:
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Retaining the Best Employees
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Cost Justification of Technology
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Internet and Network Security
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Small Business Portals: Opening the Door to Valuable Small Business Relationships
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Using Technology to Cross Sell Your Products
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Courtesy Overdraft Protection as Non-Interest Income
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Marketing Your Bank Via Your Bank’s Web Page
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Developing the Right Online Strategy and Product Offering That Will Keep Customers Coming Back to Your Web Site
Where else can you get so much for so little cost? Just $100 allows your bank to register four people. If you have any questions about the Expo, please call GBA’s Edie Canales at (404) 420-2010, Marybeth Jones (404) 420-2032 or Susie McGehee (404) 420-2010. Remember, this is your last chance to attend GBA’s Banking Expo until 2003!
2001
State Legislative Issues
Governor
Roy Barnes
Lt.
Gov. Mark Taylor
Georgia House of Representatives
Georgia State Senate
Federal
Legislative Issues
U.S. Congress
Legislative
Updates
Legal Issues
|
Bankruptcy
Reform FDIC Exam
Fee
|
Georgia Bankers in
DC
Three Georgia bankers spent three days in
Washington last week calling on members of the Georgia delegation in support
of the bankruptcy
reform legislation and to brief the members on upcoming FDIC insurance
reform. GBA Chairman E.J.
“Jud” Vann, IV, President of Planters
and Citizens Bank in Camilla and former GBA Chairmen Wes
Smith, President of Northwest
Georgia Bank, Ringgold, and Joe
Edwards, President of United
Bank Corporation, Barnesville, report they were well-received by the
delegation.
FDIC Reform
Speaking at a meeting of bankers last week, FDIC
Chairman Donna Tanoue discussed her initial thinking about
recommendations she will soon be making to reform the deposit insurance
system. Among her ideas:
-
Index deposit insurance coverage levels to the rate of inflation
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Price deposit insurance in a way that builds up the fund in good times so that pricing is not as volatile over the business cycle.
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Merge BIF and SAIF
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Calibrate premiums more closely to risk, and reward the safest institutions over time
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Eliminate the 1.25% reserve ratio, letting it float in a target range that would reflect the business cycle
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Establish a rebate system in conjunction with the floating target ratio
Calendar
of Events
Schools
Conferences
Seminars
Events
Georgia AIB
Leadership GBA
Personal Economics Program (PEP)
Internet
Training
|
Human
Resources Conference Financial
Risk Management Conference Join a GBA
Committee |
Governor Proclaims
Agriculture Day
Governor
Roy Barnes has officially proclaimed March 21 as Agriculture Day
in Georgia. Agriculture,
Georgia’s oldest and largest
industry, provides the backbone of our state’s economy and contributes
over $5 billion in cash receipts to the state’s farmers.
The GBA is proud to support the efforts of this $56.7 billion
industry in Georgia through the efforts of our Agriculture
Committee. GBA records
indicate that the Agriculture Committee was active as early as 1914 in their
efforts to assist the farmer and further agriculture and agribusiness in the
State of Georgia. David
Keith, chair of GBA’s Agriculture Committee and Vice President of South
Georgia Banking Company in Omega, said,
“We are pleased with the support our association has given to help
further the efforts of agriculture and the agribusiness lender.”
GBA’s annual Agriculture
Conference is April 19-20 in Macon.
Teach Children to
Save
On Tuesday, April 24, 2001, elementary, middle and high
school students throughout America will participate in the fifth annual National
Teach Children to Save Day. Bankers
across the country will make presentations to students in kindergarten
through 12th grade. They
will teach them about money and savings, covering topics such as budgeting,
and speaking with local elementary school students about the importance of
saving money. We hope our
members will join in this effort to make it one of the most successful
educational endeavors yet. The ABA
Education Foundation has created a resource kit that contains
everything you will need to conduct a successful presentation for any age.
Included in the kit are lesson plans, student worksheets, low-cost
promotional items and public relations materials. To order your resource kit, call the ABA at (800) 338-0626,
(catalog #889390) or visit the ABA website at www.aba.com.
If you have any questions about this program, call GBA’s Susie
McGehee at (404) 420-2010.
Retirement Services, Inc.
GBA Services, Inc.
|
For
Sale
Some Of The Services Available Through GBA Services, Inc.
|
Welcome New Participants
The Board of the GBA Insurance Trust
welcomes Piedmont Community
Bank, I.O., Gray, Mickey
Parker, CEO, to the Trust.
The bank joins more than 275 other community banks and associate members
taking advantage of this unmatched member benefit. Call GBA’s Susan Kelley at (404) 420-2017 with questions.
FISI Madison’s
Customer Appreciation Program
The Customer Appreciation Program from FISI-Madison provides financial
institutions with proven, innovative insurance products and direct marketing
techniques that:
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Generate new revenue with no risk or investment
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Strengthen customer relationships
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Retain customers longer
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Build goodwill
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Lay a foundation for additional insurance offers
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Identify customers interested in insurance products
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Complement the institution’s current insurance initiative
Endorsed by the Georgia Bankers Association, the program allows our members to offer checking, credit card and mortgage customers a gift of 24-hour accidental death and dismemberment insurance. The Customer Appreciation Program is a turn-key marketing program that involves no work or investment on the part of GBA’s member banks. The program allows you to say “thank-you “ to your valuable customers, yet does not cost you time and money.
Our banks are guaranteed fee income while providing a no-cost gift to their customers. More than 4,700 institutions in all 50 states have implemented successful programs.
For more information about FISI-Madison’s proven Customer Appreciation program, contact GBA’s Renee Valdez at (404) 420-2036, or call FISI directly at (800) 251-2148.
Newest Banks Linked
Welcome to Pinnacle
Bank, Elberton, Jack McConnell, President, and Gilmer
County Bank, Ellijay, Tracy Newton, President, as the latest
banks to link to GBA’s website. When
your bank’s homepage is ready to be linked, call GBA’s Lydia
Thomas at (404) 420-2039.
Alma, South Banking
Company
Rod Rentz has joined the holding company as Loan Review Officer.
Alpharetta, Bank
of North Georgia
John L. Lewis has joined the bank as Community Executive and Diane
Boston has been promoted to Chief Financial Officer.
Augusta, First
Bank of Georgia
Donald H. Skinner has been elected Senior Vice President.
Blairsville, United
Community Banks, Inc.
Rex R. Schuette has joined the bank as Executive Vice President and
Chief Financial Officer.
Dahlonega, Century
South Bank of Dahlonega
Bronson Lavender has been named President & Chief Executive
Officer.
Jonesboro, Heritage
Bank
Leonard A. Moreland has been named President.
Macon, Rivoli
Bank & Trust
Sylvia Tarnuzzer has joined the bank as Assistant Vice President and Kathy
J. Smisson has been promoted to Vice President, Personnel.
Marietta, Riverside
Bank
Michael W. Knowles has been promoted to Senior Vice President; Tyler
C. Dixon, Jr. and Charles R. Hatcher, III have joined the bank
as Vice President, Commercial Lending.
Powder Springs,
Independent Bank & Trust Company
The bank announces the following additions and promotions:
Robert C. Wade as Group Vice President, Lending; Timothy
L. Humphries to Senior Vice President; Carol C. Wallace to Vice
President, Marketing and Human Resources; and June Cooper to
Operations Officer.
Richmond Hill, Bryan
Bank & Trust
Michele M. Henderson has been elected to the bank Board
of Directors.
Rob Watts has been named President of the Tucker bank.
GBA’s
e-Bulletin List
Almost
500 bankers are on GBA’s email distribution list to receive the e-Bulletin
as well as the e-versions of our Legislative
Update and warnings about bank
scams.
We don’t share or sell our email list and don’t send frivolous
information to our recipients.
We’ll continue sending the paper version, and we don’t limit
the number of bankers from any one bank on the list.
Send an email to GBA’s Lydia Thomas
to get added.
