August 24, 2018      

Statewide Industry Earnings up
31 Percent in First Half of Year

The 175 banks based in Georgia earned $2.1 billion in the first six months of 2018, according to data released by the FDIC Thursday. Net income for the period was up 31 percent over the same time in 2017. Loans grew by 3.1 percent to $228.8 billion, and deposits increased by 3.4 percent to $261.6 billion during the first half of the year. Net interest margin also improved to 3.53 percent, which is above the national average. For the quarter, the state’s banks earned $1.1 billion, an increase of 27 percent over the second quarter 2017. “The performance numbers validate what we’re hearing from members that the economic conditions in general remain good around the state, and that, in turn, leads to improved industrywide bank results,” said Joe Brannen, GBA president and CEO. Click here to access a link to the full report and see our chart showing year-to-date performance in key categories…
Tour in Douglas Highlights top Georgia Ag Products
Members of GBA’s Agriculture Committee and others last week spent time in Douglas getting a close up look at two facilities that help get Georgia’s top ag commodities to market. The tours were an opportunity for bankers to learn more about the financing and operations of the peanut and poultry industries. Committee member Adam Smith, SunTrust Bank, arranged tours of Premium Peanut, the world’s largest peanut shelling facility, and the Pilgrims Pride poultry processing plant, which prepares 220,000 birds a day for distribution. Two local members of the Georgia General Assembly also addressed the bankers who attended, Sen. Tyler Harper, (R-Ocilla), and Rep. Dominic LaRiccia (R-Douglas), as did the head of the Douglas-Coffee County Chamber of Commerce, John Henry. Click here for more AgFam Tour highlights…
More Georgia Banks Eligible for 18-Month Exam Cycle
An interim final rule issued Thursday could pave the way for six additional Georgia banks to have an 18-month exam cycle. Banks with less than $3 billion in assets generally will be eligible for the extended exam cycle under the rule issued by regulators. The rule adjustment is authorized by the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). Before enactment of the EGRRCPA, only qualifying insured depository institutions with less than $1 billion in total assets were eligible for an 18-month examination cycle. Comments will be accepted for 60 days after the interim final rules' publication in the Federal Register.
GBA on the Road
A Newsworthy Visit to Carver State Bank

Last week it was a treat to visit Bob James, CEO, Carver State Bank, and a group of bank executives, directors and community leaders at the bank’s Skidaway Road branch in Savannah. James and the staff shared with us an update on the bank’s financial position and its significant role in being a source of funding and supporting the financial wellbeing for local businesses and families. The bank is one of only two African-American owned banks in Georgia and is also only one of two banks in Georgia designated as a Community Development Financial Institution by the U.S. Treasury Department. Joe Brannen, GBA president and CEO, and David Oliver, SVP-Member Solutions, gave a brief overview of the state of the industry and the resources available to the bank as a member. Click here for more highlights from our visit with Carver State Bank…
Rodeheaver
President/CEO, Bank Counsel, Bank Accountant Conferences
Live Virtual Reality Demo to Highlight Closing Session

Virtual reality technology is changing education, training and marketing in many ways. Join us at our fall executive conferences to see a live demo of just how revolutionary virtual reality, augmented reality and artificial intelligence are from a Georgia company specializing in the technology. Stewart Rodeheaver is the CEO of Vizitech, USA, and a retired U.S. Army Brigadier General. During the combined closing session of the GBA President/CEO, Bank Counsel and Bank Accountant conferences Sept. 30-Oct.2, he’ll demonstrate the latest virtual and artificial intelligence technologies and detail how they have immense investment and economic development potential in Georgia. Click here for more details and to register for the conference program.
GBA Weighs in on Disparate Impact Rule
This week GBA signed on to a comment letter with 51 other state bankers associations and the ABA to the Department of Housing and Urban Development about how a 2013 fair housing rule ignores Supreme Court precedent related to disparate impact. In discussing HUD’s rule implementing the Fair Housing Act’s discriminatory effects standard, the letter says...
Liquidity Coverage Ratio Adjustment Rule Issued
Regulators Wednesday issued an interim final rule that broadens the definition of high-quality liquid assets under the Liquidity Coverage Ratio. The change, which GBA supports, was mandated by S. 2155, the financial services regulatory reform bill that became law earlier this year. The rule treats liquid, readily marketable and investment-grade municipal securities as HQLA for the purposes of the LCR, one of the Basel III liquidity regimes. The rule takes effect upon publication in the Federal Register, and comments will be accepted on it for 30 days after it is published. Read the rule here…
Key Ruling Made in Loan Modification Rescission Case
The Sixth Circuit Court recently issued a decision that makes it the first federal court to hold that the Truth in Lending Act provides no right to rescind a loan modification agreement entered into with a successor creditor, says a blog post by Jim Goldberg of GBA Associate Member Bryan Cave Leighton Paisner. Access a link to Goldberg's post here...
First-of-its-Kind De Novo Bank Accelerator Webinar Series Coming up Sept. 19 - Dec. 12
There hasn’t been a de novo bank formed in Georgia since 2010, and new bank formation is one way to ensure a safe and sound banking industry as well as continued choice and ample access to financial services for businesses and families. With an improved economy and an industry that has experienced tremendous consolidation in the past decade, there’s renewed interest in forming new banks in the Peach State. Presented by GBA in partnership with Troutman Sanders and Porter Keadle Moore, the De Novo Bank Accelerator Webinar Series will explore all the steps investors and bank organizers should take and resources available to help accelerate the pace of de novo bank formation in Georgia. This bi-weekly series features experts on banking, law, accounting, capital access, regulations and more, who will provide a practical guide for evaluating opportunities and a road map for moving forward. Click here for the webinar schedule…
Last Call!
Small-Bank Consumer Real Estate Compliance and HMDA Reform Seminar

There are only a few days left until the Small-Bank Consumer Real Estate Compliance and HMDA Reform Seminar. You can still make a last-minute reservation for the seminar, which is next Tuesday, Aug. 28, at Idle Hour Country Club in Macon. Steve Moore of Bank Compliance Services will detail financial and operational considerations of consumer real estate lending by small banks. A variety of topics will be covered including the NEW HMDA reform for low-volume mortgage lenders. To register, click here. Registration $275 per person. With questions, please contact GBA's Jenna Lynn Warner, 404.420.2035.
Bostic
Atlanta Fed’s Bostic Signals Additional Rate Hike
Sixth District Federal Reserve Bank President Raphael Bostic is sticking by the prediction he made at the beginning of the year for three total rate increases by the FOMC by the end of 2018. The Fed has raised rates twice this year, and Bostic is a voting member of the Fed’s rate-setting committee. He cites a balance in helpful economic factors such as tax reform and increased government spending as well as downside risks such as trade tensions and international financial stresses as factors he's considering. Read more of his thoughts on the economy here…
Compliancepalooza is Less than a Month Away
Need some good reasons to attend GBA’s three-day Compliance Conference coming up Sept. 12-14? Check this out:
  • Deposit and loan compliance specific sessions
  • We’ve got the alphabet covered – BSA, TILA, CRA, HMDA, FCRA updates, and more
  • A special session about electronic and online compliance
  • A focus on protecting elderly and other vulnerable customers
  • Networking and idea sharing are invaluable
  • Options to attend just specific parts of the program.
  • See the full agenda here.
Register today to make sure your bank is represented by signing up one or more compliance pros today. Contact Alison Moreau with questions, 404.420.2034
Warren
Warren Named to Georgia Supreme Court
Gov. Nathan Deal Wednesday named Solicitor General Sarah Hawkins Warren to the Georgia Supreme Court. Hawkins, 39, was among nine candidates considered. She fills the vacancy left by Justice Britt Grant’s appointment to the U.S. Court of Appeals for the Eleventh Circuit. "Solicitor General Warren is eminently qualified for the job and will make a superb addition to this state's highest court," Georgia Chief Justice Harris Hines said. Read more about Warren here…
Action Needed!
Vote in FHLBank Atlanta Election of Directors

The Federal Home Loan Bank of Atlanta is conducting an election to fill three member directorships and one independent directorship on its board of directors. Eligible institutions in Georgia, Florida, and Maryland will elect one member director in each of those states. Eligible institutions in the bank’s district at-large will elect the one independent director. All elected directors will serve four-year terms that begin on Jan. 1, 2019. Former GBA Chairman and current FHLBank Atlanta Vice Chair Rick Whaley, The Citizens Bank of Americus, is among the nominees. The nominees for the Georgia member directorship are...
Financial Literacy Program Resources Webinars Coming up
Bankers wanting to participate in two key national financial literacy efforts at the local level can learn more during two upcoming webinars. There’s no cost for either session.
  • Register: Lights, Camera, Save! - Basics and Contest Promotion webinar, Aug. 29 at 1 p.m. ET

  • Register: Get Smart About Credit - Careers in Banking webinar, Sept.13 at 1 p.m. ET
Generate Higher Revenues and Improve Your Account-Holder Experience with the Consumer Check Program from Deluxe
What’s one of the best ways to anchor, engage and protect your customers’ transactions while you earn more revenue? The consumer check program from Deluxe gives customers access to a variety of popular check designs, fraud protection and a wide range of product enhancements. Some of the other features your customer will love include...
Learn About the Advantages of Bank Owned Life Insurance (BOLI) Programs from EBS
We want to remind members about the addition of Executive Benefit Specialists, LLC (EBS) as a GBA Strategic Partner. EBS specializes in the placement and service of Bank Owned Life Insurance (BOLI) programs. These programs use BOLI to finance existing employee benefits, as well as to informally fund new or existing nonqualified executive benefit plans. EBS offers implementation and plan design services as well as administrative services. If you have BOLI now and need or want to consider a new service provider, EBS can assist you with compliance and reports essential for your bank, board and regulators. Learn more about EBS here...
Fill a Job, Find a Job with the GBA Job Bank
The GBA Job Bank is among the most popular and valuable benefits we provide to member banks and bankers. The Positions Available and Bankers Available sections on our website consistently are among the most visited pages. Best of all, the service costs nothing for member banks and bankers. To make the process of posting a job or resume easier and to answer any questions you may have, we've developed this Q & A document as a resource. It outlines how to submit open positions and resumes, our deadlines and timelines for posting, and other helpful details. If you have any questions, please contact GBA's Bo Brannen at 404.420.2014.
Click the image to learn more
GBA Community Connections
We want to share all the good work GBA member banks, bankers, Associate Members and Bank Counsel Section members do to support their communities. Read all about the Community Connections our banks and members have below. Share your Community Connections by sending a brief paragraph and any photos of activities you have to us and we'll publish them at our earliest opportunity. Send information to Katina Prokos and David Oliver, or if your company would like to sponsor this content, let us know. Here's our latest installment...
Bank of America
Rabun County Bank
Bradford
Harvey and Amelia Wilson with GBA president and CEO Joe Brannen
Kaiser
Read All About It: Send Us Your News
Please remember to include the Georgia Bankers Association on the list of recipients for announcements about promotions, new employees and special recognition your bank has received. We want to share your news with your colleagues across the state. Please forward your announcements and photos to GBA's David Oliver and Bogan Brannen.