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Braswell Named Commissioner
Governor
Sonny
Perdue has named Rob Braswell as Commissioner of
the
Georgia Department of Banking and Finance. Rob has been
with the Department for 21 years having served as the Northwest
Georgia District Director and most recently as Deputy
Commissioner for Mortgage. The Mortgage Division is responsible
for the licensing, regulation and examination of mortgage
lenders, brokers and processors who are licensees and
registrants under the Georgia code. “We look forward to working
with Rob in his new position and wish him every success,” said
GBA Chairman Tom Wiley, CEO of
Flag Bank
in Atlanta.
Oxley to Retire
In other major news affecting the banking industry,
House
Financial Institutions
Committee Chairman
Michael Oxley
has announced he will not seek reelection to the House next
year. Rep. Oxley is nearing the end of the house-imposed rule
that permits chairmen to serve a total of six years. Rep. Oxley
became chairman at a time when the committee expanded its
jurisdiction beyond banks to include insurance and securities
legislation. He was instrumental in passing the Gramm-Leach-Bliley
Act and his legacy bill, the Sarbanes-Oxley Act
(SOX). While introducing Rep. Oxley at an event in Georgia last
week, U.S. Senator
Johnny
Isakson, understanding the controversial nature of SOX,
said, “You should have seen the bill when it was just the
Sarbanes Act.” He went on to applaud the chairman for making
much-needed improvements to the Act. Our congratulations to
Rep. Oxley on his distinguished career and we wish him well in
his future endeavors.
Credit Unions Defend Tax Status
At a
hearing before the
U.S.
House Ways and Means Committee this week,
representatives of industry groups testified about the taxation
structure of credit
unions. The hearing was called to examine
the history of credit union taxation and to gather information
on the need to continue the tax exempt treatment of credit
unions.
It was no
surprise to anyone that the credit unions used their same, tired
arguments that they were member-owned and not for profit, so
their tax status should
remain unchanged. They chose to underplay the number of credit
unions that had converted to a community charter in an effort to
avoid any need to worry about
the
traditional common bond that garnered them their tax structure
in the first place. GBA has long advocated requiring
community-based credit unions or credit unions that have chosen
to expand into commercial lending to convert to a bank so they
would be regulated and taxed like their closest competitors:
community banks. “To allow a credit union
to convert
to a community charter, serve anyone in that community, continue
to grow unfettered without bank-like tax and regulatory rules in
place is simply not good public policy,”
said GBA's
Elizabeth Chandler. “We applaud
Congress taking a close look at
these aggressive credit unions and examining their tax and
regulatory status,” Elizabeth concluded. Below is the table showing
the number of letters sent by Georgia bankers this week to
Congress opposing efforts by credit unions to expand their
commercial lending authority while reducing their capital
requirements. We passed the half-way mark this week in our goal
of 2,290 letters to Congress but more letters are
needed. Please
send your letter today.
|
District |
Legislator |
Web Letters
as of Oct. 26 |
Web Letters
as of Oct. 31 |
|
1 |
Rep. Jack Kingston |
131 |
132 |
|
2 |
Rep. Sanford Bishop1 |
97 |
104 |
|
3 |
Rep. Jim Marshall |
269 |
278 |
|
4 |
Rep. Cynthia McKinney |
13 |
16 |
|
5 |
Rep. John Lewis 1 |
78 |
79 |
|
6 |
Rep. Tom Price2 |
40 |
42 |
|
7 |
Rep. John Linder |
55 |
55 |
|
8 |
Rep. Lynn A. Westmoreland |
121 |
133 |
|
9 |
Rep. Charles Norwood |
170 |
200 |
|
10 |
Rep. Nathan Deal |
106 |
125 |
|
11 |
Rep. Phil Gingrey |
103 |
104 |
|
12 |
Rep. John Barrow |
188 |
241 |
|
13 |
Rep. David Scott2 |
55 |
59 |
|
Total Number of Letters |
1,426 |
1,568 |
|
1Has cosponsored the
Credit Union Industry’s legislation |
|
2Is a member of the House
Financial Services Committee |
Powell Moves to Hurricane Recovery
FDIC Chairman
Don Powell has been tapped by
President Bush to coordinate the federal government’s
recovery efforts on the Gulf coast. The FDIC has been fortunate
to have Chairman Powell’s leadership and he has been
instrumental in moving deposit insurance reform legislation to
the front burner in Congress. Prior to being named FDIC
Director, Chairman Powell was a successful community banker in
Texas and active in Texas political affairs. We send our thanks
to Chairman Powell for his leadership at FDIC and are confident
he will be able to use his unique blend of skills in his new
role. FDIC Vice Chairman
Martin Gruenberg will take over as chairman until a
permanent successor is named.
Kuglar Named Director
Congratulations to Larry Kuglar, Chairman, President and
CEO of
First National Bank of Polk County, Cedartown, who has
been named to a three-year term on the Board of Directors of
GBA Insurance Trust, Inc.
Larry is a former GBA Chairman and his bank is a longtime
participant in the Trust. In making the appointment, board
chairman,
Pete Malone, CEO of
McIntosh State Bank in Jackson, said, “We are delighted
to have Larry join the eight other bankers who serve on the
insurance trust board. Our sole mission is to provide
comprehensive employee insurance benefits at a competitive cost
for our participating banks, and we look forward to working with
Larry in accomplishing that objective.”
GBA BankPAC Update
Since the last Bulletin, Eddie Black, Georgia
President,
AmSouth Bank, Rome, and G.W. Johnson, CEO,
Durden Banking Company, Incorporated, Twin City, have
contributed to the GBA StatePAC. Thanks to both for your
support. Click
here
for this week's
BankPAC Update.
Welcome New Participants
The
GBA Insurance Trust, Inc.
Board of Directors welcomes to the Trust
Peoples Bank & Trust, Buford, Doug Nichols, CEO,
and
Main Street Banks and
Main Street Insurance Agency, Covington, Sam Hay,
CEO. These companies join more than 290 community banks and
associate members in this unmatched member benefit. Please call
GBA’s
Susan Kelley at (404) 420-2017 for details.
Status of Important Banking Cases
The ‘Status
of Important Banking Cases’ is made available monthly to
members of the
Bank Counsel Section as an enhanced
value to your membership. Our thanks to the
American Bankers Association's Office of General
Counsel for providing this resource. If your bank’s counsel is
not yet a member, check out the benefits of joining on the
Bank Counsel Section page. Or
call GBA’s
Kenyetta Parks at (404) 420-2036 for more information.
Register Today for AIB Online Courses
Just
a reminder that the following AIB online classes begin on
December 5 with the registration deadline being November 21:
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Analyzing Bank Performance, 8 wks, $750
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Analyzing Financial Statements, 16 wks, $515
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Commercial Lending, 16 wks, $405
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Economics for Bankers, 16 wks, $405
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Law & Banking: Applications, 16 wks, $435
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Managing the Bank’s Investment Portfolio, 6 wks, $560
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Money & Banking, 16 wks, $405
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Today's Teller: Developing Basic Skills, (open
enrollment), 8 wks, $300
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Understanding Your Construction Borrower, 10 wks, $405
These
courses are instructor-facilitated with weekly assignments.
They can be taken from the comfort of your home or the
convenience of your office. All you need is a computer, printer
and Internet access. With questions, please call GBA’s
Fran Williams at (404) 420-2015.
Marketing Conference a Success
GBA’s annual
Marketing Conference proved to be a huge success with 60
bankers in attendance. The two-day event was held on October
27-28 at the Renaissance Waverly Hotel in Atlanta. One of the
highlights of the program was the keynote address given by
Dave Martin with
NCBS. A big thank you to
Financial Marketing Solutions for sponsoring the
reception;
Howe Construction, Inc. for sponsoring the caricaturist
(a big hit at the reception); and
Solar Velocity, LLC and
Harris Communications, Inc. for sponsoring the
luncheon. A special thank you to Committee Chair Jane
Hindsman,
Bank of Hiawassee, and the
Marketing Committee for planning an excellent program.
Basic Compliance Seminars Offered
GBA will host its annual Basic Compliance seminars November
15-17 at the Crowne Plaza in Macon. The
Basic Deposit & Operations Compliance seminar, designed
for entry level compliance officers and operation managers, will
be held Tuesday, November 15th from 9:00 a.m.
to 4:00 p.m. with a registration fee of $195 per person. In
concise, easy-to-understand language, this one day seminar will
dispel the mystery and confusion created by the “legalese” and
sheer volume of bank regulation red tape in this area of
compliance. The
Basic Loan Compliance seminar, designed for entry-level
compliance officers, loan officers, and compliance auditors,
will be held Wednesday, November 16th from 9:00 a.m.
to 4:00 p.m. and Thursday, November 17th from 9:00
a.m. to 1:00 p.m. with a registration fee of $250 per person.
This one and a half day seminar will provide an in-depth
overview of loan compliance and will cover basic compliance
requirements and common problem areas. Several “real-world”
case studies will be reviewed as well as an extensive question
and answer opportunity to address individual concerns. The
instructor for both seminars is Steve Moore with Bank
Compliance Services, Avondale Estates. For questions,
contact GBA’s
Fran Williams at (404) 420-2015 or
Susie McGehee at (404) 420-2010.
Staats to Keynote Credit Conference
Dr.
Willie Staats,
a perennial favorite instructor at the
Graduate School
of Banking at LSU, will deliver the keynote at GBA’s
Credit Conference later this
month. Staats will focus on controlling and monitoring credit
risk including the impact of intense lender competition on
lending practices, the economic factors affecting credit risk,
the importance of a review of key elements in your loan policy,
the major underwriting deficiencies you should watch for, the
key elements in monitoring credit risk and the looming threats
to credit quality. The conference is November 30 - December 1
at the Cobb Galleria in Atlanta. For more information or to
register, please contact GBA’s
Marybeth Jones at (404) 420-2032.
Bank Security Seminar Scheduled
GBA will host its annual
Bank Security Seminar
on Wednesday, November 30 at the Best Western Lanier Centre in
Gainesville and Thursday, December 1 at the Holiday Inn Macon
Conference Center. The registration fee for this one-day
seminar is $195 per person and is designed for branch managers,
security officers and anyone else responsible for the security
of your bank. The workshop will be devoted to security topics
of most concern to financial institutions such as: identity
fraud, developing a security awareness program, employee safety
and check and new account fraud. For questions, contact GBA’s
Fran Williams at (404) 420-2015 or
Susie McGehee at (404) 420-2010.
2006 Holiday Decals Hot Off the Press
The 2006 Holiday Decals have arrived. Those who are on our
standing order list will receive their order within a week. If
you are not on our standing order list and would like to receive
a set, please call quickly; we have sold out over the last 3
years. The window decals not only provide a professional
appearance but also contain the 10 holiday closings recognized
by the Federal Reserve Bank in accordance with FDIC rules. To
order, please call GBA’s
Kenyetta Parks at (404) 420-2035.
Did you know…..
GBA offers the following products?
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2006 Holiday Decals:
Holiday Decals are made available through the GBA. These
window decals not only provide a professional appearance but
also contain the 10 holiday close dates recognized by the
Federal Reserve Bank, in accordance with FDIC rules.
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2005 Georgia Banking Laws and
Commercial Code Book (CD-ROM included): All
changes of the Uniform Commercial Code or the Rules of the
Department of Banking and Finance during the 2005 session
are included.
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2005 Salary Survey: The
Salary Survey includes salary and benefit data for over 100
banking positions, with data being reported by approximately
100 financial institutions.
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Thumbprint Signature
Program: The GBA-sponsored Thumbprint Signature
Program has been found to significantly reduce check fraud.
Nationally, this program is responsible for an 82% reduction
in check fraud.
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FinCrime.com: FinCrime.com is a database and
clearing house that facilitates the immediate sharing of
information via email about fraudulent activity between
financial institutions and law enforcement. This is a free
service available to GBA members and Georgia law
enforcement.
-
Georgia Financial Directory:
The Bank Directory contains complete information on all
the banks in the state and is invaluable to banking
professionals. Also are included are a listing of Associate
Member Companies and the GBA’s own Strategic Partners to
assist our members in locating companies who provide useful
products for their banks.
For more
information or to order any of the products listed above, please
contact GBA’s
Kenyetta Parks at (404) 420-2035.
GBA Job Bank
The Georgia Bankers Association offers free job posting
resources for our member banks. These listings can be viewed
online or through our bi-weekly publication included in
the GBA Bulletin. Resume postings are also available.
For more information please contact GBA’s
Kenyetta Parks at (404) 420-2035.
Latest Bank to Link
Welcome to
Piedmont Community Bank, Gray, Mickey Parker,
CEO, as the latest bank to link to GBA’s website. Call
Lydia Thomas at (404) 420-2039 when your bank is ready
to link.
GBA e-Bulletin Grows in Popularity
Did you see last Friday’s
e-Bulletin? If
not, we must not have your email address in our database. Every
other Friday, GBA publishes only in electronic format the
e-Bulletin and it is sent to over 2,000 bankers and
others in Georgia. Most of the focus of this publication is
fast-breaking regulatory and legislative news as well as crucial
information you need to know about the industry. If you are
only seeing the paper edition of GBA’s Bulletin, then you
are missing some key information. To subscribe to this free
member service, simply send an email to GBA’s
Lydia Thomas and we will add you to the distribution
list.
Newsmakers:
Gainesville -
Gainesville Bank & Trust
Kurt Hansen
has joined the bank as Senior Vice President and Retail Banking
Manager and Steve Taylor has been promoted to First Vice
President for Affiliate Commercial Market Development.
Savannah -
The Savannah Bank
Pinckney Butler has joined the bank as Senior Vice President –
Commercial Lending.
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