A regular electronic publication of the Georgia Bankers Association

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The GBA Nominating Committee will soon be meeting to consider the names of bankers recommended to begin the process of going through the association’s officers chairs.  The Nominating Committee is chaired by GBA past chairman E.J. “Jud” Vann, IV, President of Planters and Citizens Bank in Camilla and the other members are:

Group 1:  Milton Gray, Citizens Bank, Swainsboro
Group 2:  Walter Patten, Colony Bank, Sylvester
Group 3:  Neil Joiner, Bank of Dooly, Vienna
Group 4:  Steve Wood, First Nation Bank, Covington
Group 5:  Jimmy Walker, North Atlanta National Bank, Atlanta
Group 6:  Hal Ward, Bank of Dudley, Dublin
Group 7:  Charles Allgood, Alliance National Bank, Dalton
Group 8:  Ray Chitty, The Park Avenue Bank, Valdosta
Group 9:  Charlie Miller, Community Bank & Trust, Cornelia
Group 10:  Victor Parker, Citizens Bank, Warrenton
Past Chair:  Sonny Deriso, Synovus Financial Corp., Columbus
Past Chair:  Wes Smith, Northwest Georgia Bank, Ringgold

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

Legislative Update for February 1, 2002

Calendar of Events
Schools
Conferences
Seminars
Events
Georgia AIB
Leadership GBA
Personal Economics Program (PEP)
Internet Training

Get Involved at the GBA
One of GBA’s greatest assets is the number of bankers who volunteer (over 225) to serve on a committee or board. Larry T. Kuglar, GBA’s Chairman-elect and President and CEO of The First National Bank of Polk County in Cedartown, is starting this year’s committee appointment process by looking for bankers who are willing to volunteer their time and services to the banking industry and their association.  “GBA’s 17 standing committees and boards provide an excellent opportunity for you to share your expertise and network with other bankers,” Kuglar said.  Included with this mailing is Chairman-elect Kuglar’s letter encouraging bankers to participate and join the efforts of this association.  The Fact Sheet describes the various committees and boards and their roles.  Please use the Fact Sheet's volunteer form to recommend someone for a committee or volunteer yourself.  Contact GBA’s Norma Guild at (404) 420-2031 for more information.

Harold Brewer to Keynote Financial Risk Management Conference
Harold Brewer, CEO of Brintech, Inc. in New Smyrna Beach, Florida, will keynote GBA’s Financial Risk Management Conference on March 13-14 at the Renaissance Waverly Hotel in Atlanta.  Brewer is a nationally recognized leader in financial management and will present real world solutions on managing the net interest margin of your bank and will also discuss various balance sheet and pricing strategies that could be solutions to the challenges of a volatile rate environment. The conference is designed for chief executive officers and chief financial officers.  A block of rooms has been reserved at the Renaissance Waverly and you may call them directly at  (770) 953-4500 to make a room reservation prior to the February 19 deadline for the hotel.  Contact GBA’s Norma Guild for additional conference details.

7^th Annual Southeastern Bank Management & Directors Conference
For the 7^th consecutive year, the Terry College of Business at the University of Georgia is providing a conference for senior management and directors of community banks and bank holding companies.  This forum provides the opportunity to discuss and hear presentations about strategic issues facing community banks and other financial providers.  The program is scheduled for February 15 at the King and Prince Hotel on St. Simons Island and February 21 at Chateau Elan in Braselton.  Call GBA’s Marybeth Jones at (404) 420-2032 to request a brochure.

Welcome New Participants
The Board of Directors of the GBA Insurance Trust, Inc. welcomes to the Trust Elberton Federal Savings & Loan Association, Kenneth Taylor, CEO; SDA, Inc., Atlanta, Gary Page, CEO; and Alliance Leasing Corporation, Marietta, Mike Whitmore, CEO.  These firms join more than 275 other community banks and associate members in this unmatched member benefit. Please call GBA’s Susan Kelley at (404) 420-2017 for more information.

Record Retention a Priority?
Here’s why it should be…..
Usually bank personnel are less than familiar with the laws regulating retention.  Often they want to retain records permanently that have little or no legal, fiscal or archival value.  Some laws dictate that you keep records for a certain period of years, usually this is between two and six years (federally).  If a record has a legally required retention period of six years, banks should dispose of the record at six years and one day.  

Some bankers think it is best “for the customer” to retain certain records, but this gesture could backfire and cause the customer to lose a lawsuit.  If the bank records are subpoenaed, the records of their reproductions and substaining records must be supplied, unless the records have been destroyed by a method set forth and practiced routinely by the bank.  

Banks pay the price for keeping records that should have been disposed of many years before.  The nightmare and costs of unneeded litigation are topped only by the inability to find the records in a timely and efficient manner when they are needed immediately with the worse case being in court and explaining (in a non-embarrassing way) that you can’t find the records needed for the litigation.  

Many banks choose to outsource their boxes of records, only to find out that it costs a minimum of $.11 per month.  Storing them at your bank, even in an area that is less than “prime”, will cost an average of $18 per year, per box, including the cost of space, insurance, manpower, shelving and boxes.  Therefore, when deciding to keep records for a longer time than necessary because you “may need them”, you should figure the expense of retention before you decide to be a “pack rat.”

Record retention is an extremely important part of running your bank.  Each of you should set-up a retention program.  Records should be destroyed on a regular basis, in a timely manner and in accordance with the law.  In addition to being in compliance, you will be in control, save money and able to find your record when you need them.

Welcome New Associate Members
Congratulations to the following companies for being approved for Associate Membership at the January 16, 2002 Board Meeting:

• Alliance Leasing Corporation, Marietta, Mike Whitmore, CEO

• Bankers’ Capital Group, L.L.C., Atlanta, J. Thomas Wiley, Manager

• Franklin, Taulbee, Rushing, Snipes & Marsh, P.C., Statesboro, James B. Franklin, President

• GB Home Equity, Stuart, Florida, Joseph Mundwiter, President

• Kirchman Corporation, Orlando, Florida, Ken Kirchman, President

• LSQ Funding Group, L.C., Marietta, Maxwell Eliscu, President

• Ram Air Freight, Inc., Raleigh, North Carolina, Jon Heuman, President

• SAMCO Capital Markets, Dallas, Texas, William D. Gross, President

• SDA, Inc., Atlanta, Gary Page, President

• SecureWorks, Inc., Atlanta, John Wilbanks, Chairman

Private Business, Inc.
GBA Services, Inc. announces the dissolution of its endorsement of products and services offered by Private Business, Inc.  Should you have any questions or comments concerning this issue, please call GBA’s Renee Valdez at (404) 420-2036.

Some of the Services Available Through GBA Services, Inc.

• Financial Publications-Georgia Banking Laws, Bank Directories

• Discounted Check Program

• Internet Loan Closing Program

• Checking Club Programs

• Discounted Long Distance Program

• Accounts Receivable Financing

• Bond and D&O Insurance

• Non-Qualified Executive Benefits

• Trust and Investment Services

• Real Estate Loan Products and Services
• Environmental Contamination Loan Insurance

Allentown, The Four County Bank
The bank announces the following promotions: Tommy A. Trawick to President and CEO; Amy S. Orr to Executive Vice President; and Ruth F. Arnold to Senior Vice President.

Alpharetta, Bank of North Georgia
Congratulations to Don Howard, President, and the officers, directors and staff on the bank’s recent opening of its Buckhead Private Client Services office.  Promoted to Senior Vice President were Jean S. Holloway; Peter C. Pomeroy; Debi Akers and Jayne Hammond. 

Atlanta, Citizens Trust Bank
Our sympathies to the family and colleagues of former president, I. Owen Funderburg, who died recently.  Owen was active in the GBA and served on the GBA Board of Directors.

Atlanta, Fidelity National
Robert G. Byrne has been elected Senior Vice President/Manager of Commercial Lending and Peter Braatz has been promoted to Senior Vice President.

Augusta, First Bank
Cynthia G. Osborne has been elected Vice President.

Carnesville, First Banks, Inc.
The bank announces the following elections:  Tony Collins to Director and Fletcher Dove to President and CEO of First Bank and Trust.

Carrollton, West Georgia National Bank
Bobby J. Sanders has joined the bank as Vice President, Commercial Loans.  Jeff Bush has been promoted to Vice President; Steven Walburn to Assistant Vice President; and Ann Bell to Banking Officer.

Cornelia, Community Bankshares, Inc.
David H. Gould, Jr. has joined holding company as Executive Vice President and Director of Consumer Banking and Marlon R. Mayfield as Senior Vice President and Director of Information Systems.  John P. Collins has joined Community Bank & Trust as Senior Vice President of Branch Administration.

Monticello, McIntosh State Bank
James M. Lynch has been promoted to Banking Officer. 

Savannah, Savannah Bancorp, Inc.
G. Mike Odom has been elected Executive Vice President and Chief Operating Officer of the holding company and John C. Helmken, II, President of Savannah Bank.

GBA's e-Bulletin List
Our e-Bulletin subscriber list continues to grow with each edition.  Bankers from any member bank can be added to the email-distributed version of the Bulletin.  A bonus of getting the e-Bulletin is the number of links we include, which puts even more information at your fingerprints. This is a great way to keep your key employees informed of significant industry information, trends and events. To add yourself or others in your bank to the list, send an email containing the name and email address of each individual to GBA’s Lydia Thomas.

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