July 12, 2019

Meet GBA Committee Chairs for New Year

GBA’s fiscal year begins July 1, which is always an exciting time for us. Not only do we get to start afresh executing our Board-developed strategic plan and annual Plan of Work, our committees are also busy planning their annual conferences, events and schools. Volunteers are the lifeblood of the association and more than 300 bankers give of their time and talent to help GBA be the premier educational resource for our members. Join us in welcoming and thanking the 2019-2020 committee chairs:
Danny Minick
Citizens Bank of Americus
Holt Redding
South Coast Bank & Trust, Brunswick
Ron Mitchell
Mauldin & Jenkins, Atlanta
Virginia Barrow Harman
McRae, Smith, Peek, Harman, & Monroe, LLP, Rome
Rhodes McLanahan
First American Bank & Trust, Athens
Margaret Davis
Commercial Banking Company, Valdosta
Thomas Williams
United Bank, Griffin
Eddie Hoyle
Colony Bank, Fitzgerald
Darron Burnette
Synovus Bank, Statesboro
Luann Daniels
Heritage Bank, Jonesboro
Andrew Ainslie
Bank of Madison
Lawanna Saxon
Signature Bank of Georgia, Sandy Springs
Jaye Eubanks
United Bank, Zebulon
Ronna Brown
Quantum National Bank, Suwanee
Ashlee Torpy
Morris Bank, Dublin

Working Group Implementing SB 157 Has Been Meeting

GBA’s Joe Brannen and David Oliver are part of a working group convened by Georgia State Treasurer Lynne Riley to implement the shared deposit legislation, SB 157, that passed this past session. The bill adds transaction accounts to the existing authority for banks and their vendor to offer CD shared deposit programs, like CDARS, to public depositors to avoid collateralization. The working group has met three times. The first meeting was to make sure everyone understood the Treasurer’s role in making a recommendation to the State Depository Board to approve shared deposit program vendors. The second meeting had presentations from the three known shared deposit vendors currently operating in Georgia: Promontory, StoneCastle and Reich & Tang. And the third meeting was to review the kind of detail Treasurer Riley is thinking of asking the proposed vendors to provide. A fourth meeting is slated in two weeks to review a draft proposal to submit to the State Depository Board at their September meeting. Although the legislation gives the Board until December 31 to approve the vendors, the goal is to have everything in place for implementation soon after the board’s September meeting. Our thanks to Treasurer Riley for efficiently and transparently working with all the stakeholders to implement the bill. With questions, contact Joe Brannen, 404.420.2026, or David Oliver, 404.420.2036.

GBA Urges Clarity on Control Rules

This week we provided comment on behalf of our members to the Federal Reserve about amendments it is proposing to rules governing certain control and divestiture procedures for investments. We’ve urged the Fed to move forward with its proposed amendments to 12 C.F.R. Parts 225 and 238 so that banks will have more clarity about a variety of shareholder control, voting and classification issues. "While we acknowledge the existing rules and guidance regarding these questions, we believe increasing the clarity of the Federal Reserve’s position on these and other questions will benefit institutions and their shareholders. Moreover, we believe that these questions are more often faced by smaller community-oriented institutions that may have fewer resources to engage in extensive analysis of these questions," said GBA president and CEO Joe Brannen, in the comment letter. Read the letter here. Our thanks to GBA General Counsel Jonathan Hightower, Fenimore, Kay, Harrison & Ford LLP, Newnan, who was largely responsible for developing the comment letter from member feedback, With questions, contact Joe Brannen, 404.420.2026 or Jonathan Hightower, 770.282.5112.

Banking Department Adopts Proposed Rules

On July 9, the Georgia Department of Banking and Finance adopted rules promulgated mostly from changes included in their annual housekeeping bill, HB 185, introduced by Rep. Bruce Williamson (R-Monroe). Our thanks especially to Bo Fears, Deputy Commissioner for Legal Affairs, for reaching out to our Bank Counsel Section Board of Directors last summer as the legislation was being developed. We call your attention to two provisions, especially. The first relates to changes in internal audit regulations. Fears met with GBA’s Bank Accountant Section members last fall to discuss the Department’s intent. Section officers Tim Keadle of Porter Keadle Moore and Ron Mitchell of Mauldin and Jenkins were especially helpful in reviewing drafts and making recommendations for revisions to minimize the compliance burden on members as well as to ensure the terminology was consistent with that used by the accounting profession. The other provision we suggest you review relates to a new type of account that has a raffle component. With questions, contact Elizabeth Chandler, 404.420.2027, or Joe Brannen, 404.420.2026.

GBA Member Profile
What Maggie Davis Learned at the Car Wash

Like many kids, Maggie Davis’ first job was an assignment from one of her parents. When she was 14 her dad put her to work washing company vehicles at the telephone company where he worked. There, she learned attention to detail and some other lessons. "He always inspected the vehicles behind me and would make me wash any places I had missed. He taught me to take pride in my work and do the best I could. My dad was the best teacher," Davis says. An eye for detail certainly comes in handy in her job as VP of Compliance and Operations at the Commercial Banking Company in Valdosta. Maggie is this year’s chair of the GBA Compliance Committee. Read more in this week’s member profile about Maggie’s career path, a really neat local service she co-founded to help the community, and why GBA is valuable to her.

FNB Bank Welcomed as GBA's Newest Member

Please join us in welcoming FNB Bank, Scottsboro, AL, and all of the bank's employees to the GBA. Steve Rownd is president and CEO, and Alan Gay is chairman. With total assets of about $665M, FNB Bank operates 16 branches in AL, GA and TN. It’s GA branches (formerly Capital Bank, Ft. Oglethorpe) are located in Ft. Oglethorpe, Ringgold and Chickamauga. You can visit the bank’s website here to learn more.

Almost All GA Banks Likely Eligible for Streamlined Call Report

All but five Georgia-based banks meet the new basic total assets criteria put in place for the ability to file the FFIEC’s most streamlined call report for the first and third calendar quarters each year. Institutions with less the $5 billion in total assets are eligible so long as they meet other criteria. The other criteria are that such bank has no foreign offices; is not an "advanced approaches institution" for regulatory capital purposes; is not treated as a "large" or "highly complex" institution for deposit insurance assessment purposes; and is not a state-licensed insured branch of a foreign bank. Regulators adopted the final rule July 5, and it takes effect Sept. 30. More details here.

Community Bank Volcker Rule Exemption Finalized

Bank regulators this week OK’d a final rule excluding community banks from the Volcker Rule. The action was among those stipulated in last year’s major financial services regulatory relief bill, S. 2155. Community banks with $10 billion or less in total consolidated assets and total trading assets and liabilities of 5 percent or less of total consolidated assets are now excluded from the Volcker Rule that limits banks’ proprietary trading and certain relationships with hedge funds and private equity. Full details here.

Capital Simplification Rule Gets Nod

Regulators this week issued a rule that simplifies the Basel III regulatory capital calculations for banks not using the Basel advanced approaches. All but the largest banks should benefit. The final rule raises the deduction threshold to 25% for mortgage servicing assets, certain deferred tax assets and investments in the capital of unconsolidated financial institutions (such as investments in trust preferred securities). Read the final rule here.

Fraudulent Cashier’s Check Alert - Bank of Wrightsville

Members are asked to be aware of fraudulent cashier’s checks being circulated that look to be drawn on the Bank of Wrightsville. Remitter names on the checks have been Diane Morales and Vicki Harles, and checks have ranged from $1,950 to $2,950. The bank asks that such items not be cashed or negotiated. For routing and account numbers, sample images of fraudulent checks and additional information, contact Susan Powell or Missy Wilson at 478.864.3347.

Be Proactive, Not Reactive, in Fighting Check Fraud
Four Ways the Thumbprint Signature Program Can Help Your Bank Fight Check Fraud

One effective fraud fighter you can use at your bank is GBA's Thumbprint Signature Program. It's proved to deter counterfeit and stolen check fraud by getting a thumbprint on any check presented by customers who cash checks. Click here to read about some of the benefits. For more information about how you can become a participating program member, contact Bo Brannen, 404.420.2014.

Announcement of Election
FHLBank Atlanta 2019 Election of Directors

The Federal Home Loan Bank of Atlanta has begun the election to fill certain directorships on the Bank’s board of directors, including the member directorship in South Carolina, and two independent directorships. The term of the directorships to be filled in this election begins on Jan. 1, 2020, and ends on Dec. 31, 2023. Pursuant to the bank’s board-approved Equal Opportunity Policy Statement, which is available on the bank’s website, the FHLB Atlanta encourages the consideration of diversity in nominating or soliciting nominees for positions on the bank’s board of directors. Individuals interested in being considered for the independent directorship must complete and return to the Bank, by 5 p.m. EDT on July 22, 2019, the application and related forms that are available on the Bank’s website at www.fhlbatl.com. If you have questions, please contact Tina Carew, FHLB Atlanta Legal Department, 404.888.8549.

A Look at Democratic Presidential Candidates’ Banking Positions

The field for the Democratic nomination for President in 2020 is a big one, and candidates have staked out a variety of positions related to banking and financial services. Some, such as Joe Biden, Elizabeth Warren and Bernie Sanders have well-known campaign histories and policy stances, while others such as Kamala Harris and Pete Buttigieg, are relative newcomers with emerging points of view. American Banker this week had a nice short summary of the stated and likely positions of many of the candidates that’s worth a scan as we head into the fall ramp-up of campaign activities. Read the article here.

Powell: Unlike for Facebook Cryptocurrency Idea

Federal Reserve Chairman Jerome Powell raised significant opposition to Facebook’s proposed cryptocurrency, Libra, during testimony to Congress this week. "Libra raises many serious concerns regarding privacy, money laundering, consumer protection and financial stability," he said during his testimony before the U.S. House of Representatives Financial Services Committee. "I don’t think the project can go forward," he later added. Georgia reps. Barry Loudermilk (R-GA11) and David Scott (D-GA13) serve on the committee. With billions of users and likely rapid, broad adoption, Powell said any problems with the Libra cryptocurrency could quickly rise to "systemically important levels," so appropriate safeguards need to be in place. Read more here.

Down to the Wire for Comp. & Benefits Survey

A strong percentage of Georgia-based banks have participated in the 2019 GBA Compensation and Benefits Survey so far, and you still have time to join the contributors. The deadline is July 18. This is the absolute latest it can go to make sure the reports are due in time for late-summer distribution. The more banks that participate, the stronger the end reports are for everyone. Participating banks save 70% off the price of the survey reports, which are the most comprehensive in the market. To access the survey website and participate, click here. The password to access the site is GBA#2019. With questions and details about accessing the survey, contact David Oliver, 404.420.2036, or Randy McGraw at Matthews, Young - Management Consulting, 919.644.6962.

Compliance Resource
GBA Guide to Bank Record Retention Now Available

Featuring Bank Record Retention Quick Notes©, 5th Edition, by Carl Pry
GBA is pleased to offer members the newest edition of its Guide to Bank Record Retention, featuring Bank Record Retention Quick Notes©, 5th Edition, by Carl Pry. This guide is intended to support the development of a complete and understandable record retention program at your bank. Record retention policies are required by regulators and important for your customers if their bank records are ever subpoenaed. Additionally, we have included an excerpt from the Georgia Department of Banking and Finance's Final Rulemaking, adopted June 27, 2018, which contains changes to Chapter 80-10-1, Georgia’s state-specific retention requirements. Bank Record Retention Quick Notes© author Carl Pry is well known to GBA members. Pry is an instructor at GBA’s Basic and Advanced Compliance Schools and is a frequent contributor to and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. A Certified Regulatory Compliance Manager and Certified Risk Professional, he is a featured speaker for numerous banking, compliance, and state bar associations and leads training sessions across the country. We hope that you will find this to be a valuable resource to help your bank. The new guides are priced at $99 + tax, s/h. To place an order, please contact GBA’s Bo Brannen.

Fall 2019
Upcoming One-Day Events

Click the links above to learn more. Sponsorship opportunities are available. Please contact GBA’s Jenna Lynn Warner, 404.420.2035, with questions.

Amplify Your Understanding of Commercial Lending Activity and Opportunity

As a partner of the GBA, S&P Global wants to share with you some new and exciting ways they help their clients. Recent commercial real estate (CRE) lending trends indicate increased investment in vacant and industrial land. As the U.S. retail landscape shifts from traditional brick and mortar to online, it's important to have the right data to support your commercial lending strategy. Commercial Prospecting from S&P Global delivers detailed property and mortgage information, helping you identify new lending opportunities and better understand competition in your markets. Access the recently recorded Take Your Commercial Loan Prospecting to the Next Level webinar here and explore their unique prospecting tool, to facilitate more powerful prospecting and smarter commercial lending. Click here to learn more. Contact Bo Brannen, 404.420.2014, to learn more about GBA’s partnership with S&P Global.

Hurry, only 10 spots left!
The BSA Experience Session Highlight: Introduction to BSA/AML Regulations and Applicable Law

This session of the BSA Experience will serve as the foundation of BSA and an overview of applicable regulations, laws, role of the government in the BSA and a working knowledge of money laundering activity. Harry Dixon, III, MUFG, Vice President of Global Financial Crimes Policy Development will provide attendees with a primer of BSA/AML/OFAC responsibilities and outline criminal penalties for money laundering, terrorist financing, violations of the BSA and civil penalties for violations of the BSA. The BSA Experience will take place Aug. 20-23 at Middle Georgia State University, Macon. In order to provide this unique hands-on experience, registration is limited to 50 participants. Register now to secure your spot. Contact GBA’s Jenna Lynn Warner, 404.420.2035, with questions.

ABA Online Training Courses
July-September Offerings

Here are 16 courses coming up in July-September. ABA-facilitated online courses feature an online learning community with fellow students, instructor guidance and feedback Any employee of a GBA member bank can participate at the member rate. Your bank does not have to be an ABA member. For more information, contact Shan Haugabrook, 404.420.2020. Click here for a list of all ABA offerings.

Increase Your Knowledge on Tax-Advantaged HSAs!

The Health Savings Account (HSA) Expert Certificate is comprehensive overview of HSA requirements for financial institutions and benefits administrators. Designed to help HSA providers and their staff master key requirements, situations and strategies to better serve HSA account holders, the certificate is the product of HSA Consulting Services and its president and founder, Roy Ramthun. GBA members get a discounted rate, and you don't have to be an ABA member to register. Registration also includes a digital copy of the HSA Owners' Manual. For more information, contact Shan Haugabrook, 404.420.2020.

Recruit, Retain and Develop the Best Bankers with GBA Career Solutions

GBA Job Bank - GBA will post open positions, free of charge, for GBA members. See the open positions in Georgia here. We will also post professional summaries for bank-job seekers on our Bankers Available page. To make the process easy and answer any questions, we've developed this
Q & A. Please contact Katina Prokos, kprokos@gabankers.com, 404.420.2021.
GBA Strategic Partner BankTalentHQ - The central feature of BankTalentHQ is its national bank-job board. Other key benefits include: resume search access, regional and national reach for your open positions, frequent special offers and custom sales/coaching programs. Visit BankTalentHQ to learn more. See the open positions in Georgia here, or search regionally or nationally here.
GBA’s Career Paths for Bankers™ - GBA’s Career Paths for Bankers™ is the most unique, organized and easy-to-use career development resource available for bankers and banks. GBA’s pioneering career development resource is unlike any other in the banking industry. Click here to start mapping your banking career today.
Why do people choose careers in banking? Whatever their talents, interests and educational background, there is a career in banking for them. Here are few good reasons to share with folks you know.
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...
First American Bank & Trust Co.
Georgia Primary Bank
Morris Bank
Commercial Banking Company
Heritage Bank
Adams and Dillard
Read All About It: Send Us Your News
We want to share your news with your colleagues around the state. Please forward your announcements about promotions, new employees and special recognition your bank has received along with any available photos to GBA's David Oliver and Katina Prokos.