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How You can
Meet New Motor Vehicle Titling Requirements
The Georgia Department of Revenue (DOR) is enforcing its ELT
mandatory requirements more stringently now that the Jan. 1, 2014,
deadline for all lenders with five or more titles in the previous
calendar year has passed. The DOR is also working on a new transaction to allow lienholders to be notified when a title has not been issued due to
the owner not paying the second installment of the ad valorem tax.
Dynamics Inc., (DDI) works closely with more than
130 GBA member banks, helping set up and support Georgia customers
using Premier eTitleLien™, a secure, web-based application.
more about DDI's ELT program...
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Interest Rate Averages by County
Bills Pass House Unanimously
GBA's two priority bills for this year's General Assembly session
have passed the House and now head to the Senate for further action.
The "Fees are Not Interest" bill,
passed the full House unanimously Wednesday. Rep. Richard Smith
(R-Columbus) ushered the bill through the House. The patent troll bill,
passed the House, also unanimously, Thursday. Rep. Bruce
Williamson (R-Monroe) sponsored the bill and led the floor
debate. The bill authorizes the
Governor's Office of Consumer Affairs to enforce the bad faith
assertions found in violation of the act. Individuals may also bring
a private action against the troll.
We also added several new
bills to our tracking list this week. Read more about what was added
look for full details in our Legislative
Update Friday afternoon...
GBA, Others Push for Fed
Governor with Community Bank Background
GBA this week joined most
other state bankers associations and the ABA in urging President
Obama to nominate someone with strong community bank experience to
the Federal Reserve Board of Governors to fill one of the current
In a letter to
the president, the associations pointed out that at times,
attention to community bank issues has been overshadowed by the
Fed's monetary policy duties.
Find out more and access a link to
the full letter...
Professionals Gather In Atlanta
top bank Human Resources officers attended the annual GBA HR
Professionals Institute this week in Atlanta. We've heard from GBA
board members and many other member bankers throughout the past year
that HR issues are top of mind right now for bank management, boards
and employees, so the agenda was stocked with the latest updates on
the most pressing HR topics. Attendees got a thorough briefing about
Affordable Care Act issues, the latest about compensation and
benefit practices, technology trends related to HR, succession
planning tips and a full HR legal update. Many thanks to
Wanda Nesbit, Citizens Trust Bank, Atlanta, for chairing the
GBA HR Committee
that planned the conference.
Sub S Banks
Should Comment on Capital Solution
III capital rules require a capital conservation buffer that could
cause a tax liability for Subchapter S bank shareholders. The
conservation buffer rule prevents banks from making distributions to
shareholders when capital falls below a certain level. Because
federal tax liability passes through a Sub S bank to individual
shareholders, this rule may cause Sub S shareholders to face a tax
liability even when they did not receive a distribution. Sub S banks
are encouraged to join GBA and ABA in urging regulators to allow Sub S
banks to make distributions equal to the taxes due on the bank's
undistributed income, which would eliminate the disadvantage.
There's a sample letter
available here to help you write regulators. With
Joe Brannen, 404.420.2026, or
Elizabeth Chandler, 404.420.2027.
References in Loan Docs May Need Updates
and consumer loan documents that refer the London Interbank Offered
Rate (LIBOR) may need to be updated. As of
Feb. 1, the British Bankers
Association (BBA) no longer administers LIBOR. The new administrator
is the Intercontinental Exchange Benchmark Administration Ltd (ICE).
So, for new, modified or renewed loans, any references to BBA LIBOR
in your loan documentation should be updated. There is no reason to
refer to the entity that administers LIBOR,
says a bulletin about the change
from GBA Associate Member Bryan
Cave. A general reference to LIBOR should suffice. The bulletin says
that there's probably no need to change existing loan documents, but
check that with your compliance experts to be sure.
Your Customers for Small Business Awards
good way to show your appreciation for some of your customers and
help promote small business lending. The U.S. Small
Business Administration (SBA) Georgia District Office is seeking
nominations for Georgia's 2014 Small Business/Champion of the Year
awards in 10 categories ranging from entrepreneurs, family owned
businesses, minority businesses and more. Banks, people and other
organizations that support small businesses in any way can nominate
a small business. The deadline for nominations is March 15.
Here's a link to all the details.
Submit all nominations to
Sign Farm Bill
Bill passed the Senate this week, and President Obama has said he
intends to sign it. As we reported last week when the House approved
the legislation, the bill includes the
removal of term limits for USDA-guaranteed farm loans, something GBA
and others have supported for years. The bill also trims some farm
subsidy programs and institutes an enhanced crop insurance program.
Georgia Sens. Chambliss and Isakson voted for the
Here's a link to an article with an overview of the bill and a
video of Sen. Chambliss' speech on the Senate floor in support of
Recognized for Cordele Redevelopment Efforts
nice to see member bankers recognized for their contributions and
commitment to their hometowns. This month's Georgia Trend magazine
has an article that highlights Colony Bank's Bob Evans
for his role in helping redevelop Cordele's downtown. Evans, city
president for the bank in Cordele and recent GBA Board Member, is
specifically recognized for being the force behind building a new
downtown campus for Darton State College.
More about Evans' work
in the community and access to the full article here...
Compliance Peer Group Meeting March 25
Compliance Management, UDAAP and New Flood Rules
The next GBA Compliance Peer Group Meeting is March 25 at Idle Hour
Country Club in Macon from 9:30 a.m. to 2 p.m. We have two speakers
for this event. Brad Washburn with Steve H. Powell and
Company will discuss new flood rules and Harriett Price,
also with Steve H. Powell and Company, will cover UDAAP and
tips for complying with updated guidelines. Thanks to GBA's
for planning the program. Sandra Chastain, Private Bank of
Buckhead, is the committee chair.
Click here to learn more and to register
GBA 2014 Operations
and Technology Conference March 5-6
Smashing Tokens with Zeus / Leprechaun –
Now You're Curious, Right?
Operations and Technology Conference
will be March 5-6, at the Cobb Galleria
Centre in Atlanta. Attendees will hear from Lawrence Baldwin, of mynetwatchman.com,
a cyber investigations and network analysis firm based in Atlanta. In his session,
"Smashing Tokens with Zeus/Leprechaun," Baldwin will discuss how
criminals use social engineering to bypass all forms of secondary
authentication in the transaction process, the implications, and
Click here to register and for hotel
Children to Save Day Registration is Open
The ABA this week opened registration for Teach Children to Save Day
(TCTSD) set for April 11. Since 1997, more than 130,000 bankers have
leveraged the program and its resources to bring financial literacy
lessons to more than 6 million students. If you are interested in
learning more, ABA is hosting a free webinar on Feb. 11 at 3 p.m. to
kick off the event.
We encourage all GBA members to participate in the day, report your
activities through our
Financial Literacy Program and share with us photos of your
participation so we can recognize the good work of your bank.
Sign up for the free webinar and enroll in the Teach Children to
Save Program today...
Affordable Housing Program Application Deadline is Feb. 13
The application round for FHLBank Atlanta's
2014 Affordable Housing Program (AHP Competitive) is underway.
Applications and all supporting documentation must be submitted to
the bank through FHLBAccess® by
As a reminder,
all project sponsors must partner with an FHLBank Atlanta member
financial institution to submit an AHP application. Sponsors that
are new to the AHP must complete a one-time registration.
Click here to
begin the registration process. New registrations must be submitted
Miss GBA's Analyzing Financial Statements Seminar Feb. 20
Now is the time to
register for GBA's Analyzing Financial Statements seminar. Led by
Mike Allen with State Bank & Trust, Atlanta, this one-day
seminar is designed for entry-level commercial lending officers,
credit trainees and analysts. Topics to be covered include analyzing
personal tax returns, analyzing commercial financial statements and
much more. The
Financial Statements Seminar
is Feb. 20 at Idle Hour Country Club in Macon.
Click here to register online. With
questions please contact GBA's
Members Help Students Envision a Bright Future, Provide
Technical Assistance to Realtors and are Always Visible
in their Community
Click here to read about the
latest good works by various GBA members. We want to share all that GBA
members do to support their communities.
Submit your community information to
Bo Brannen and
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Read about all the Georgia Bankers making news this week...
Bank of Cochran's
Ernie Tripp at a retirement reception in his honor with
GBA's Joe Brannen.
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.
IRA Basics Seminar
Analyzing Financial Statements Seminar
HMDA, CRA & Fair Lending Workshop
Operations & Technology Conference
March 5 - 6
Loan Documentation Seminar
Compliance Peer Group
Bank Security Conference
April 10 - 11
Georgia Banking School
May 4 - 9
Southern Operations & Technology School
May 4 - 9
2014 Annual Meeting
June 15 -18
White Sulphur Springs, WV
Full GBA-U Calendar