December 1, 2017    

Advocacy in Action
GBA Members Inform Efforts to Modernize Anti Money Laundering Rules

GBA and member bankers this week pitched in to help shape discussion of a bill that could increase the threshold triggering banks to file Currency Transaction Reports (CTRs) to $30,000 from $10,000. U.S. Rep. Barry Loudermilk asked GBA to round up banker input on the idea to help him prepare for a hearing Wednesday by the U.S. House Financial Services Committee, on which he serves, about the provision, which is part of a more broad bill to help curb terrorism and illicit financial activities. Several member bankers quickly chimed in with details to help Rep. Loudermilk. Read their feedback here...
Related - Last call!
BSA: Are You Ready for Your Next Exam (and New CDD Rules) Seminar - Dec. 6

Time is running out to register for the BSA: Are You Ready for Your Next Exam (and New CDD Rules) seminar Dec. 6 at The Brickyard Golf Club in Macon. During this full-day seminar, Steve Moore, Bank Compliance Services, will cover the following:
  • Review of reporting and recordkeeping requirements, including CTRs, SARs, etc.
  • Detailed review of BSA exam procedures from the BSA officer's and BSA auditor's perspectives
  • How to document BSA + OFAC risk assessments, including CDD and EDD for "high risk" customers
  • NEW: Beneficial ownership rules.
BSA officers, BSA auditors and risk managers will all benefit from this seminar. Registration is $250 per person. Click here to register online. Please contact GBA's Katina Prokos at 404.420.2021 with questions.
Department of Revenue Proposal Rejected
At a joint meeting of the Georgia House Ways & Means and Senate Finance committees this week, members voted to halt the implementation of a plan by the Georgia Department of Revenue to require a certificate of clearance for tax liens prior to transferring property. The proposed regulation was the result of legislation passed in the 2017 session of the General Assembly that allowed for a statewide tax lien registry. The leadership of the committees said this week they plan to revisit the legislation in the 2018 session to further refine how the Department of Revenue may use the registry. With questions, please call Elizabeth Chandler at 404.420.2027 or Joe Brannen at 404.420.2026.
State’s Banks Continue Growth through Third Quarter
Georgia’s 178 FDIC-insured financial institutions earned $889.3 million during the third quarter of this year, up 15.2 percent over the same period in 2016, according to FDIC data out last week. For the first nine months of the year, cumulative earnings were $2.5 billion, increasing by 10.3 percent over the same nine-month period in 2016. Loans and leases were up by 2.9 percent from the same period a year ago, and total deposits were 3.7 percent higher. Here’s a look at key year-to-date metrics through the end of September…
GBA Member Profile
Thompson Enjoys Helping Plan Successful Futures and Studying Our Nation’s Past
Queensborough National Bank & Trust Executive Vice President Bill Thompson thinks banking is the perfect blend of three important things. “Banking is a great combination of service, analytics and economics. We get to help people build better businesses and plan for their futures," Thompson told us in this week’s GBA Member Profile. Thompson is vice chairman of GBA’s Credit Committee. When asked about what helps him be a better banker, he was quick to point out his participation with GBA and attendance at events like next week’s Credit Conference as irreplaceable resources. “The session at this year’s Credit Conference covering the impact of the film industry in Georgia is of particular interest to me. I want to understand how community banks can participate in this arena,” Thompson said. Learn more about Thompson in this week’s GBA Member Profile…
Last Call! Credit Conference Is Next Week!
Time is drawing near for the GBA Credit Conference, so we’re just going to give you the facts:
  • Who Should Attend? Chief credit officers, loan officers and senior lenders, commercial lenders, COOs, Presidents/CEOs, and credit analysts.
  • When and Where? Dec. 7-8, Atlanta Marriott Renaissance Waverly
  • Agenda? Click here!
  • Ready to register? Click here!
  • Cost? $400
Credit Union Tax Subsidy Abuses in Spotlight
As the debate about tax reform continues in Congress, GBA and state bankers associations from around the country continue efforts to end the tax exemptions credit unions have, particularly for large institutions with assets of $1 billion or more. Our view is that ending the exemptions for such institutions would expand the tax revenue stream by $27 billion over 10 years to help offset tax cuts that would benefit far more families and businesses. See a map and infographics with Georgia specific details here. We shared with our Senators and Representatives a fact sheet recently showing that many credit unions in Georgia have expanded well beyond their original purpose of providing banking and credit resources for people of modest means with otherwise limited financial services choices. Get a link to that sheet and learn more here...
Welcome New GBA Member - Southern First Bank
Please join us in welcoming Southern First Bank to GBA as a new member bank. The bank recently announced expansion into Georgia with an office in Atlanta The expansion is being led by Sandy Bowen, executive vice president and Atlanta Market Executive, Fielding Troutman, vice president and Katherine Wall, client officer and loan administration.
Member Bankers, GBA Weigh in for Economic Development Publication
A national business research firm has published an in-depth economic development publication about the city of Atlanta and the state of Georgia with the support of the Atlanta Mayor’s office. It’s only natural that such a book has a considerable section about banking and financial services, and GBA was pleased to work with the firm, Capital Analytics Associates, to talk about the strong climate for banking in Georgia and Atlanta. The book’s section about financial services features various GBA member executives covering a variety of topics. See who is featured and read more here…
Counterfeit Cashier’s Check Alert
There’s a suspected fraud scam going around we heard about from West Central Georgia Bank they want members to be aware of. There have been several counterfeit cashier’s checks issued recently that look as if they’re from the bank. The checks all have the same remitter’s name on them (last name, Clark) and the same authorized signer (last name, Johnson) and they’ve been sent from an address in Oklahoma to people who have responded to a work-from-home scheme. Amounts range between $1,000 and $9,000. Be on the alert. For information about the specifics, contact Sheila Johnson, compliance officer, or Mike Streetman, executive vice president BSA/AML officer.
Modest, Steady Growth Noted by Fed
Businesses in the Federal Reserve’s Sixth District reported modestly improving economic growth and expect slow, steady growth for the rest of the year, according to the Beige Book economic summary out Wednesday. Bankers reported making credit readily available for borrowers. Liquidity remained good, but some bankers reported pressure to boost deposit rates. Home prices were up, but sales were flat to limited. Commercial real estate construction was up during the period. Ag conditions were mixed. See the full report here....
CFPB Director Drama
A usually quiet holiday period for bank regulatory news was shaken up late last week when CFPB Director Richard Cordray resigned Friday. His move sparked a legal battle to determine who the rightful person was to take on the post as acting head of the agency. President Trump nominated Budget Director Mick Mulvaney, but Cordray and other bureau supporters claimed CFPB Deputy Director Leandra English should fill the post. More about the shakeup at CFPB here...
2017 BankPAC Campaign Update - Time to Finish Strong
The GBA BankPAC Board of Directors is excited about the success of the 2017 BankPAC campaign. “We are finishing strong and encourage bankers that haven’t contributed to this industry wide effort to do so now,” said Tom Wiley, chair of Georgia BankPAC and CEO of State Bank & Trust Company. Now is the time to join your peers from around Georgia and make your contributions. Contributing this week to the GBA BankPAC are the following banks and associate members…
Pear Tree Prices Spike as CPI Rises Slightly
It’s been a tradition for more than 30 years for PNC to calculate the cost of the gifts in the classic carol “The Twelve Days of Christmas.” The bank calls it the Christmas Price Index (CPI). This year, the cost of buying each of the “gifts” in the song would be $34,558.65, up only 0.6 percent from 2016. The fun look at the economy said the slight increase was driven by cost increases for the pear tree (up 5.2 percent), increased demand for golden rings and wage increases for the lords-a-leaping. See the CPI here...
Put GBA Legislative Reception and Forum on Your List
This year's legislative session will be an active one for Georgia's banking industry. Make sure you're in-the-know about what's in store, and don't miss the opportunity to talk to your representative one-on-one at GBA's annual Legislative and Economic Forum and Legislative Reception on Wednesday, Jan. 10, at the Atlanta Marriott Marquis. The events start at 3 p.m. with our Legislative/Economic Forum. The Legislative Reception will follow from 6-7:30 p.m. Click here to register.
GBA Operations & Technology Conference Agenda Available and Registration Open
GBA’s Operations and Technology Committee is excited to announce that the program agenda for the March 7-8 Operations and Technology Conference is available, and that conference registration is now open. Click here to see the detailed agenda, register online, and book your hotel room. Contact GBA’s Kathy Friestad, 404.420.2024 with questions.
Did You Know We Offer…
Online Classes for Bank Marketers

Your customers have already changed the way they bank. And your marketing channels need to change with them. From sales, to marketing, to customer service, these educational opportunities help you shape the customer experience...
Upcoming GBA-U Webinars
A GBA-U Webinar is a great way to quickly get the training you need without travel or time out of the bank. Webinars are live and allow time for questions and answers. The $265 registration price gives you access to one website "seat," one telephone site license and all handout materials. If you can't attend the webinar, you may buy the CD of the recording, handout materials and/or a password to see the session online. With questions, please contact GBA's Katina Prokos at 404.420.2021. Here is a sample of upcoming offerings...
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.
2018 Holiday Decals Still Available
The 2018 Holiday Decals were mailed this week to banks that are on the standing order list. We still have a few sets left. If you would like to place an order or to be added to the standing order list for next year, contact Bo Brannen, 404.420.2014. Holiday Decals not only provide a professional appearance but contain the 10 holiday closing dates recognized be the Federal Reserve Bank in accordance with FDIC rules. Prices are $35 per set: 1-5 sets; $32 per set: 6-10 sets, $30 per set: over.
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 Bo Brannen and David Oliver, or if your company would like to sponsor this content, let us know. Here's our latest installment...
Wells Fargo
First Port City Bank
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

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