Georgia Bankers Association - The Resource that Empowers

March 21, 2014


GBA Renews Endorsement of Valuation Management Group

The Georgia Bankers Association (GBA), through its subsidiary, GBA Services, Inc., is pleased to announce the renewal of its endorsement of Valuation Management Group, LLC (VMG) as a GBA Strategic Partner and its preferred provider of appraisal management services. VMG handles the entire appraisal process including approving the appraisers, managing the appraiser panel, handling the bid process for complex residential properties and commercial assignments, ordering environmental risk assessments, engaging the appraisers and performing a robust, quality technical appraisal review. VMG also offers commercial and residential reviews for Georgia banks in need of review products only. For more information, contact VMG’s Patrick McMillen, 678.486.7495.

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The 44 most-common bank job descriptions, the skills and competencies you need to have those jobs and links to training and development by job title.


GBA Worked on 70+ Bills During General Assembly Session

The Georgia General Assembly finished the second 40-day session of the 2013-2014 biennial at the stroke of midnight Thursday. It was a busy year for GBA as we were actively involved in more than 70 bills that had a direct effect on our members, including two priority bills we proactively asked to be passed. Those bills passed and are awaiting signature by the Governor. A number of other significant bills passed, as well. And, several bills we had concerns about did not pass. Get all the details in our Legislative Update.


Credit Unions – Updated Resources

Help Tell the Story of How Credit Unions Benefit from Tax Exemptions

Georgia banks paid more than $237 million in taxes in 2013, while in-state credit unions competing with Georgia’s banks paid $0 in taxes. The ABA has put together updated fact sheets that show how tax-advantaged credit unions leverage their exemption to grow deposits and expand business lending. Click here to see the fact sheet. Also, please participate in the GBA-supported “It’s Time to Pay” grassroots advocacy campaign from ABA. Click here to engage in the "It's Time to Pay" conversation.


Construction Jobs Outpace other Sectors in Georgia for Job Gains

Georgia’s construction industry jobs have increased by 6.6 percent in the past year and 2.3 percent from January to February this year. “We’re seeing a lot of good news across most sectors, but probably the one we’re the most excited about is construction,” said State Labor Commissioner Mark Butler in the monthly release of unemployment and other labor statistics. Read more labor stats...


Related: Two upcoming regional GBA-sponsored Symposiums will have a full economic update as part of each day's agenda.

GBA Endorses Q2’s Virtual Banking Solutions

GBA is pleased to announce its endorsement of the Q2 virtual banking platform. The Q2 program consolidates all virtual banking options onto one platform requiring only one interface to the core and providing a unified user experience across all devices and channels. See more about our new endorsed provider...


Federal Reserve News

Fed Tweaks Interest Rate Guidance

At Federal Reserve Chairman Janet Yellen’s first meeting at the helm of the Federal Reserve Open Markets Committee, the group made a change to its interest rate guidance. For quite a while the guidance had said unemployment of 6.5 percent was a threshold for considering a change in short-term rates. However, with the current unemployment number approaching that threshold, the Fed said it will evaluate progress toward its economic objectives using a wide array of indicators. More details here.


Atlanta Fed Releases Its 2013 Annual Report
“Where are the Jobs?”

The Atlanta Fed's annual report, now available online, tells a vivid story of the 2013 labor market. The report is an accessible and substantial exploration of the most pressing economic issues of the day. It features a variety of dynamic elements—including short, informative videos and interactive charts—to shed light on the labor market.


Model Prepaid Card Fee Disclosures from CFPB

With designs that look similar to nutrition labels on food, the CFPB this week unveiled to the public and kicked off a second round of field testing of model disclosure forms for prepaid card products. The models prominently display a card’s fees for monthly use and a variety of activities. Fees for reloading cash, making purchases, ATM use, inactivity, phone service and online bill pay all are shown. The bureau will likely propose a rule about prepaid disclosures later this spring. See both designs here.


Annual Meeting Session Spotlight

Emerging Issues for S Corp. Financial Institutions

If you’re a Sub S financial institution or considering becoming one, you don’t want to miss this session at our 2014 Annual Meeting. Michael Giammalvo, Crowe Horwath, LLP, Atlanta and Wells Hall, Nelson Mullins Riley & Scarborough, Charlotte, NC, will cover the emerging issues in the Sub S world. Topics to be covered include: fiscal cliff income tax rate environment, the Affordable Care Act Net Investment Income Tax, and the BASEL III impact on S corporations and much more. You’ll also hear about recent IRS pronouncements, case law and other tax planning ideas and considerations for S corporation banks. GBA’s 2014 Annual Meeting is scheduled for June 15-18 at The Greenbrier in White Sulphur Springs, WV. A complete convention package will be mailed soon, but you can go ahead and register now.


FDIC’s Dujenski Announces Retirement

FDIC Atlanta Regional Director Tom Dujenski announced this week that he will retire from the FDIC effective May 3. Dujenski has held the Atlanta post since his appointment in April 2010 and wraps up a 30-year career with the FDIC. We wish Tom all the best, and appreciate his frequent participation in GBA programs.


SBA Clarifies Waiver of Some 7(a) Loan Fees for 2014

The U.S. Small Business Administration this week added clarification to the qualifications of 7(a) loans of $150,000 or less eligible for guaranty fee waivers. See the clarification here...


Seminar Spotlight

Safety and Soundness Seminar - May 1

Based on the reduction in the number of bank closures as well as the significant profitability in 2013, this banking crisis appears to be coming to an end, but challenges remain. Karl Nelson and Eric Nelson of KPN Consulting will lead this seminar. The sessions will feature a panel of regulators comprised of representatives from the Federal Reserve Bank, the OCC, the FDIC, and the Georgia Department of Banking and Finance. The panel will address each of the CAMELS issues. This seminar will be at the Georgian Club in Atlanta May 1. Please click here for more information. If you have any questions, please contact GBA’s Danielle Driggers at 404.420.2002.


DECA Seeks Volunteers to Judge and Evaluate Students in Finance Related Events

This May, DECA, the association of marketing students in high schools across the country will host the International Career Development Conference in Atlanta, bringing about 16,000 high school students from around the country to the city. Hundreds of these students will be competing in finance-related competitive events. You are invited and encouraged to serve as a judge. More details here...


Key GBA Event Reminders

Southeastern Community Bank Symposium

April 3

Click here to register

Bank Security Conference

April 10-11

Click here to register

Northwest Community Bank Symposium

April 23

Click here to register

Georgia Banking School

May 4 - 9

Click here to register

Southern Operations & Technology School

May 4 - 9

Click here to register


2014 Annual Meeting

June 15 - 18

Click here to register


GBA Community Connections

Banker Volunteers at Shelter and an Economic Briefing for Businesses

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 David Oliver.


Sponsorship Available: GBA Associate Members may sponsor GBA's Community Connections feature to support our member banks' activities in Georgia communities. Contact David Oliver at 404.420.2036 for information.



Read about all the Georgia Bankers making news this week...





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.



Compliance Peer Group
March 25

Southeastern Community Bank Symposium
April 3

Bank Security Conference

Business Continuity Planning
April 10 - 11

Deposit and Operations Compliance Seminar
April 15

Basic Lending Compliance, Two-day Seminar
April 16 - 17

Northwest Community Bank Symposium
April 23


New Account Documentation and Compliance Seminar

April 24

Analyzing Financial Statements Seminar
April 30

Safety and Soundness Seminar
May 1

Georgia Banking School
May 4 - 9

Southern Operations & Technology School
May 4 - 9

Marketing Peer Group
May 20


2014 Annual Meeting
June 15 -18
White Sulphur Springs, WV


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