Status of Important Banking Cases for
GBA-Endorsed ABA Insurance Program Distributes $20,000 to
GBA Member Banks
American Bankers Mutual Insurance, Ltd. has declared
$1.1 million in distributions this year to be shared by more than 980
banks across the country. Nineteen Georgia banks will share more
$20,000. American Bankers Mutual Insurance, Ltd., the reinsurer of
ABA Insurance Services program, has
declared distributions to eligible member banks for 24 consecutive
years, totaling $79 million in distributions since the program's
inception. Nearly $2.4 million of that has been shared with
Georgia banks. Bank members of ABA that purchase their
directors and officers, bond and related insurance from ABA Insurance
Services are eligible to receive a distribution. For most banks, the
distribution easily covers annual ABA dues for that bank. For more
information about ABA Insurance, contact
Patricia P. Williams, CPCU,
GBA's endorsed in-state agent,
Take a Moment to Read this Important Information from GBA Strategic
that have taken a competitive look at their check program over the
past few years have realized big savings off their current check
program costs. If your check program contract ends this year or if
it has been a while since you've had a thorough review of your
program, we ask that you consider talking with
our endorsed provider of check programs. Through our partnership
with Deluxe, the GBA is able to offer an exceptional program for
your bank. The relationship between Deluxe and the GBA means that we
work closely with them to ensure they provide your bank with
excellent service and the program delivers...
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Retirement, Pension and
Georgia Financial Directory
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GBA Priority Bill Passes Senate
The Georgia General Assembly is in session every day this week, and
Friday will be day 34 of the 40-day session. Thursday the Senate
passed GBA's priority bill,
H.B. 824 by Rep. Richard Smith
(R-Columbus), that clarifies fees charged by Georgia-chartered banks
are in fact fees and should not be considered interest. The bill now
goes back to the House, which is expected to agree with a slight
amendment made in the Senate. Our thanks to Sen. Jesse Stone
(R-Waynesboro) for ably handling the bill in the Senate. GBA's other
H.B. 809 by Rep. Bruce Williamson
(R-Monroe) making Georgia a less-friendly state for patent trolls,
is also expected to come up for a final vote in the House soon. It's
been a busy week. Monday was Crossover Day, which is the day bills
must pass their body of origin in order to be considered by the
other body. Several bills GBA has been monitoring saw action this
week, and we will report more in our Legislative Update after the
General Assembly adjourns for the week. With questions,
Elizabeth Chandler, 404.420.2027,
Joe Brannen, 404.402.2026.
Georgia Supreme Court Issues Positive
Georgia Supreme Court March 3 issued an important ruling related to
the standard of care a trustee has in serving as a corporate
officer. In the ruling, the court overturned an appeals court
decision that would have resulted in a trustee's management of
certain family entities to be scrutinized using a
higher-than-appropriate level of fiduciary standards.
details about the Georgia Supreme Court's decision and access a link
to the complete ruling...
Insurance Bill Passed by U.S. House
U.S. House this week passed a GBA-supported bill that would make big
strides in protecting the affordability of flood insurance. The bill
caps rate increases for policyholders at 18 percent per year,
reinstates grandfathered status for properties built to code before
updated flood maps were adopted and allows new buyers to assume
existing flood policies when buying properties. The provisions
address many of the significant concerns we had with the
Biggert-Waters Flood Insurance Reform Act of 2012.
more Flood Insurance Legislation and find out about some good GBA
resources for education and compliance with new and current laws...
Breakout Sessions Set for 2014 Annual Meeting
The planning process is well underway for GBA's 2014
June 15-18 at
The Greenbrier in White Sulphur Springs, WV. Back by popular
demand, we will have several breakout sessions that will cover
topics including bank consolidation, the challenges of the modern
bank director, managing rising interest rates, the new world of
mortgage lending and much more. You can go ahead and register now!
Click here for hotel rates and access to online registration...
How Durbin and Franken are Wrong on
52 other state bankers associations this week in opposing efforts by
Sens. Richard Durbin (D-Ill.) and Al Franken
to specifically increase scrutiny on banks' data security efforts in
the wake of large retail security breaches. GBA signed on to a
letter to Federal Reserve Chairman Janet Yellen outlining the
industry's concerns with the senators' request for information from
the Federal Reserve Board on the data security efforts of banks,
along with an implicit urging for greater oversight of financial
Read how strong banks' track record is compared to
retailers and access a link to the full
letter to Yellen here...
Operations and Technology
Branch Trends, Fraud
Identification, Mobile Banking take Center Stage
about how to use technology to get closer to customers as well as
protect them were two of the key themes this week at the annual GBA
Operations and Technology Conference. A large crowd of member
Operations and Technology professionals attended. Our thanks to the GBA's
Operations and Technology Committee for
planning such a great program. Jim Stewart,
United Community Bank, Blairsville is the committee Chairman,
and Leesa Anderson, State Bank of Cochran, is the Vice
Chair. Thanks also to our many sponsors and exhibitors who helped
make the conference a success.
are listed here.
Read more about some of
Georgia Bank Performance Highlighted
efforts to promote the improved environment for the state's banks
paid off this week with
an article in the Savannah Morning News. The article
highlighted the continued climb in the number of banks reporting
profitability and the continued improvement of customer credit
quality. Member bank CEOs Brian Foster, First Chatham Bank,
and Jim LaHaise, Coastal Bank, were also quoted in the story.
With questions, call
David Oliver, 404.420.2036.
Take Care in Payroll Reporting of
Non-Qualified Deferred Compensation Vehicles
deferred compensation vehicles are becoming increasingly popular as
a way to reward, retain and attract key employees, so it is
important to take the necessary steps to ensure that such plans are
administered to comply with payroll tax rules, says GBA Strategic
Specialists, LLC (EBS).
The consequences of poor tax planning can be costly for the
executive participant and the bank.
This linked AALU Washington Report from Feb. 6 highlights
the importance of properly administering non-qualified deferred
compensation plans. Discover the key take-away from the article
according to EBS here...
Smart Balance Sheet Management to be
Discussed at Bank Symposium - April 3
Join Rob Cochran, CFO of
BrandBank, Lawrenceville, at the
Southeastern Community Bank Symposium as he provides you
with primer on the valid and sensible use of hedging and
derivatives. What fits for community banks? He'll also provide tips
for dealing with unrealized bond losses and provide smart strategies
to prepare for rising rates. The Symposium is
April 3 at Forest Heights Country Club in Statesboro.
To register, click here. Be sure to take advantage of
the special pricing structure by registering several people from
your bank for this event. The registration price is $159 for the first
attendee and $129 per person for each additional attendee. With
questions, please contact GBA's
Susie McGehee at 404.420.2010.
to Evaluate Auctions to Clear OREO Inventory
We noted in last week's overview of
the FDIC year-end information that Georgia bank OREO levels in 2013
declined by about $600 million from year-end 2012. That's' certainly
good news. Banks looking to continue shedding OREO assets may be
considering auctions as a possible way to do so.
Here's a helpful article from GBA Associate Member John Dixon & Associates outlining the various auction types and tips
for choosing an auction company. With questions, contact John Dixon
& Associates' Buddy Lee, 850.765.2353, or
Bob Green, 770.425.1141.
Robber Gets 210 Months in Prison
Roger Collins, of Albany has been sentenced to serve nearly 18
years' (210 months) in federal prison for armed bank robbery by the
Honorable W. Louis Sands, United States District Court Judge, in
Albany. Collins had pled guilty to driving a getaway vehicle during
a February 2013 robbery of Peoples South Bank in Donalsonville, as
well as to robbing the Trust Bank in Adel during the same month.
U.S. Attorney Michael Moore said, "Mr. Collins provided the getaway
ride for two violent criminals, and, while doing so, he put human
lives and property in jeopardy. He has well earned his lengthy stay
in federal prison."
Read more details here.
Expansion Continues, but Weather
Puts Brakes on Economy
activity expanded slowly in early January and February across the
Federal Reserve's Sixth District, which includes Georgia. The
outlook remains positive overall, even though winter weather
affected some sectors, according the Fed's Beige Book economic
summaries out this week.
See what bankers were saying about loan
and refi demand, the effects of mortgage rules and more...
Loan Documentation Seminar - March 13
Don't miss the
opportunity to learn from Mike Allen, Executive Vice
President, State Bank and Trust Company, Atlanta at GBA's
Seminar as he shares techniques for proper loan documentation. Prevention of loan losses through implementation of proper loan
structuring and documentation techniques is critical in the banking
industry today. Mike will cover these issues along with other topics
including: background and review, identifying the borrower,
identifying the collateral, evidencing the debt,
and perfecting the collateral, real estate specifics and much
more. Designed for commercial loan officers, commercial loan
personnel, loan assistants and closing specialists, the seminar is March 13 at Idle Hour Country Club in
Macon. With questions, please contact GBA's
Information Security Officer
(ISO) Seminar - March 20
growing crowd of Information Security Officers, Compliance Officers
and network administrators already signed up for this seminar that
will highlight all the information you need to be a successful
professional in this role. You will get a better understanding of
the regulatory requirements and expectations, and we will define the
internal roles and responsibilities including coordination with
NetAdmin, reporting to the board of directors, leading the IT
steering committee and the ISO's role in audits and examinations.
Helpful checklists and white papers will be included. Registration
is $225 for members. The seminar will be at the Idle Hour Country Club in Macon.
information or to register,
click here. For personal assistance contact GBA's
Danielle Driggers at 404.420.2015.
Group Meeting - March 25
Compliance Management, UDAAP and New
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.
Click here to learn more and to register
Members Support Research for Healthy Children, Work to
Remember Veterans, Sponsor Community Arts and More
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...
The National Bank of Georgia Team with
and Lora Lee of SBAP
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.
Loan Documentation Seminar
Compliance Peer Group
Bank Security Conference
April 10 - 11
Deposit and Operations Compliance
Basic Lending Compliance, Two-day
April 16 - 17
Account Documentation and Compliance Seminar
Analyzing Financial Statements
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
Career Paths for BankersTM
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.