September 16, 2016   


Lockhart Stepping down from Atlanta Fed

Federal Reserve Bank of Atlanta President Dennis Lockhart will step down from his post Feb. 28, 2017. Lockhart has been the president of the bank since 2006. “Dennis is highly regarded nationally and internationally for his voice of reason. During his tenures as a member of the Federal Open Market Committee, he was among the most respected for his views on the economy. Dennis was at the helm during some of the brightest days for our economy and during some of our darkest days. He competently guided the bank through both. We’ll miss his leadership at the bank and wish him well in the future,” said GBA president and CEO Joe Brannen.

De Novo Conference Identifies Opportunities

While the environment for new banks nationally and in Georgia has been difficult in the past several years, seeds of opportunity are beginning to emerge. That was the general message from experts presenting at the GBA De Novo Conference Wednesday. Georgia Banking Commissioner Kevin Hagler, FDIC Atlanta’s Deputy Regional Director of Risk Management John Henrie, and OCC’s Karen Bryant, director for district licensing, Southern District Office in Dallas, outlined the regulatory viewpoint to start the meeting. They all emphasized the agencies are eager to begin reviewing applications for new banks. “I’ve got my ‘charter pen’ ready,” quipped Bryant at one point. Click here for more De Novo highlights...

Purdue’s CFPB Funding-Change Bill on Senate Floor Calendar

A bill re-introduced this week by Georgia Sen. David Perdue that would alter the funding process for the CFPB has been put on the Senate’s legislative calendar, bypassing the normal committee hearing process. The bill, S 3318, would give Congress the authority to make funding appropriations for the CFBB as opposed to the bureau being funded by the Federal Reserve. No date has been set for floor debate. We appreciate the Senator’s focus on this issue. It’s one of the things he said he was going to address when our group of member bankers met with him in May at the Capitol in Washington, D.C., and we worked with him before that on other efforts to reduce regulatory burden. More about Perdue's legislation here...

CHOICE Act Passes House Committee

The GBA-supported CHOICE Act comprised of significant regulatory relief measures passed the U.S. House Financial Services Committee Tuesday. There were no amendments to the bill, and the most significant components we support remain intact such as a Qualified Mortgage safe harbor for mortgages held in portfolio, the TAILOR Act to provide tiered regulation based on a bank’s business model or risk profile, repeal of the Durbin interchange amendment, an exam appeal provision and legislation to allow highly rated banks to file short form call reports. More about the CHOICE Act here...

Fintech Charter in Consideration by OCC

In news related to things discussed at our De Novo Conference this week, Comptroller of the Currency Thomas Curry told a group of marketplace lenders about a possible “fintech” charter being considered for nonbank financial technology firms. Consumer protection and fair lending would be critical concerns the OCC would consider in evaluating any such special-purpose charters to ensure a level playing field for all financial institutions. “If we at the OCC do decide to grant limited-purpose charters in this area, the institutions who receive the charters will be held to the same strict standards of safety, soundness, and fairness that other federally chartered institutions must meet,” he said. “We want a framework that encourages and promotes advances in products, services, and processes that serve consumers, communities, and businesses better and more fairly.” With Georgia being home to a thriving fintech sector, we wouldn't be surprised to see local interest in the OCC's initiative.

Compliance Conference Rolls on

Georgia bank compliance professionals have been in Macon since Wednesday morning for their annual conference. Attendees are getting a heavy dose of risk-management and loan compliance updates as well as hands-on tools to use in their banks. Topics have included deposit regulation updates, BSA, social media, Regulation E, appraisals, CRA, flood insurance and legislative updates. The conference was still ongoing at press time, so look for details and photos in next week’s edition.

President/CEO, Bank Counsel & Bank Accountant Conferences

Top 5 Reasons to Attend October Executive Conferences

Still on the fence about attending GBA’s President/CEO, Bank Counsel or Bank Accountant Conference? Here are five good reasons to register today...

Resource Reminders

The Scoop on Salaries and an Advocacy Campaign

Please consider taking advantage of the following two GBA member resources available to you.
  • Order Your Compensation and Benefits Survey: The results of the 2016 GBA Compensation and Benefits Survey are now available. Results include data about new or updated titles and/or job descriptions for eight positions: Compliance Specialist, BSA Analyst/Specialist, BSA Officer, Residential Mortgage Underwriter, Small Business Loan Officer, E-Commerce Head, Accounts Payable Clerk, and Administrative Assistant. And, the benefits results section is in a new format with charts, graphs and online accessibility. To order a copy of the results, please contact GBA's David Oliver, 404.420.2036. The price for the survey results for members that did not provide data for the survey is $400.

  • Sign up for GBA’s Democracy Days: Help us get out the vote for this year’s election by taking part in our Democracy Days voter registration and information campaign. We’ll send you ready-to-use, customizable materials to share with your local news outlets, customers and employees. Sign up here…

Last Call! IRA Advanced Update and Review Workshop – Sept. 22

The IRS is losing patience with IRA custodians and trustees who are incorrectly reporting 1099-Rs and 5498s to the point that it is increasing penalties to financial institutions not in compliance. You can still register for training to help your bank avoid these higher fines at the IRA Advanced Update and Review Workshop Sept. 22 at Idle Hour Country Club in Macon. One of the most respected IRA experts in the country, Patrice Konarik of Sunwest Training Corp. will separate fact from fiction for technical areas of IRAs. The seminar focuses on recent changes at the intermediate to advanced level and will address these and many more common questions...

Georgia Three-Peats as top State for Business

Georgia sits atop Area Development magazine’s list of top states for business for the third consecutive year. The site-selection magazine’s panel of consultants ranked Georgia No. 1 overall based on the results of rankings in 10 categories they evaluated. Georgia placed in the top six for each individual category. The state’s responsive government and workforce development programs were categorized as best in the nation, and the state rated second in the competitive labor environment, regulatory environment and speed of permitting categories.

2016 BankPAC Campaign Update

The 2016 BankPAC Campaign is inching its way toward the goals for the GBA StatePAC and GBA FedPAC, but your help is needed to make this a true industry wide effort. The contribution forms for each fund as well as the payroll deduction form for the GBA FedPAC provide easy guidelines to get the campaign started in your bank. Please take a look at how your GBA Group is doing compared to its goal and get your contributions in today. Thanks to these bankers, Associate Members and Bank Counsel members for their contributions to the GBA BankPAC this week...

Bank Secrecy Act: The ABC's of BSA (and OFAC) – Oct. 6

Brush Up on Your BSA Training at Oct. 6 Seminar

Everyone working for a bank, particularly frontline personnel, is expected by examiners to complete training on the reporting and recordkeeping requirements for BSA, CIP and OFAC at least every year. Aware of the need for frequent training, GBA is again offering its Bank Secrecy Act: The ABC's of BSA (and OFAC) seminar Oct. 6 at Idle Hour Country Club in Macon. Steve Moore of Bank Compliance Services will address the basic BSA and OFAC requirements, including...

Tee it up for Advocacy by Playing in GBA’s BankPAC Classic

The election season is fully upon us and GBA has supported a number of candidates in races through our FedPAC and StatePAC already. Our annual PAC campaigns allow us to support those candidates, and one of the signature fundraising events is coming up that is arguably more fun than a meeting at the bank to talk about why contributions are important. Leadership GBA’s annual Georgia BankPAC Classic on Oct. 17, at Idle Hour Country Club in Macon. The two-person scramble tournament is sure to be a fun and challenging event for everyone. Registration is $150 per person, $250 per team or $450 for a team plus hole sponsorship (a $100 savings!). The proceeds will be donated to the GBA StatePAC. Click here to register. With questions, please call GBA’s Susie McGehee at 404.420.2010.

GBA Advanced Compliance School (May 7-12, 2017)

Compliance Regulation Expert David Dickinson Joins School Faculty

We are excited to announce David Dickinson has joined the faculty at the GBA 2017 Advanced Compliance School next May. Dickinson is an expert in compliance regulations. He is also a motivational speaker and innovative educator. If you have heard Dickinson present, you know that his quick wit and sense of humor transforms the usually tiring topic of compliance into an enjoyable educational experience. Learn more about Dickinson and the Compliance School here...

Senior Lending Officer Roundtables-Sessions Start Back Up in Oct.

Registration is now open for the GBA Senior Lending Officer Roundtables, which will begin their fourth year in October. These roundtables provide an in-depth look at the latest issues a senior lending officer needs to understand to cultivate new business, evaluate risk and strongly support profitability. In addition, the unique peer connections forged from a well-organized roundtable can be essential for bankers whose careers are developing toward becoming CEOs and other top executives in our industry. Click here to download the flyer/application form. With questions, please contact GBA's Alison Moreau at 404.420.2034 or Susie McGehee at 404.420.2010.

Upcoming GBA-U Webinars

A GBA 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 web site "seat," one telephone site license and all handout materials. If you can't attend the webinar, you may buy the audio CD, handout materials and 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. Check the GBA-U Calendar of Events at for more details.

New Online Course!

The Mortgage Lending Business

This six-week course is an overview of the mortgage lending business, including mortgage banker, broker, and lender business models; the role of government and agencies such as Federal Housing Administration and the Veteran’s Administration programs; other key players like Fannie Mae and Freddie Mac; important real estate laws; and the basics of real estate investing. More about the course here...

The GBA Job Bank Gets Results

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.

Flood Insurance Update from Strategic Partner ServiceLink National Flood

On July 27, FEMA released an updated Standard Flood Hazard Determination Form (SFHDF). The new form replaces the previous form which expired on May 30, 2015. According to the FEMA website, the old form can continue to be used during the phase in period of the new form. The website does not yet provide a specific transition period, but indicates the page will be updated with additional information soon. ServiceLink National Flood will start using the new form effective Sept. 24, 2016. For more information, visit

Access to Multiple Bank D&O and Bond Insurance Markets, Coverage Available for Banks of Any Size from McEver & Tribble

After a difficult period for D&O Insurance coverage, we are starting to hear of emerging patterns regarding market response to banks of varying health. The current market is helpful for certain banks but still a challenge for others. Healthy banks can expect improved market response, similar to what they found before the 2008 market correction, with three-year policies, no restrictive wording or endorsements and competitive pricing. Distressed banks, on the other hand, can expect one-year terms, lower limits, restrictive endorsements, higher premiums and some are still encountering regulatory exclusions on their polices as well as Prior Acts exclusions. The cost to obtain these coverages can be high, however, GBA Strategic Partner McEver & Tribble has access to multiple bank D&O and Bond Insurance markets and can provide regulatory coverage for banks of any size. Please contact Hayward McEver with questions at 404.949.3825.

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. 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. Here's our latest installment...

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.

Happy Birthday to us!
GBA was founded Sept 14, 1892. That's 124 years as the resource empowering Georgia's banks!