The CEOs in the odd-numbered groups have voted on their group’s nominee and those bankers joining the GBA Board at the Annual Meeting are:
Please join us in welcoming these bankers to leadership positions for the industry.
Heartbleed Bug: How the Industry is Protecting Consumers and Responding
News this week about a programming flaw called the “Heartbleed Bug” in the encryption of websites that use OpenSSL has businesses and consumers working to make fixes and shore up passwords. In a statement, the Financial Services Information Analysis and Sharing Center addressed the strong reaction from the financial services industry. “Individual financial institutions are examining their systems, and for vulnerable sites, are applying security patches and updating encryption keys where needed,” the statement said. “In many cases, financial services websites either do not use OpenSSL or already have protections in place to ensure this vulnerability is not exploited.” As you talk to customers about your own protective measures, it’s important to emphasize that bank customers are always protected from unauthorized transactions and that it’s always a good idea to update their passwords regularly to keep themselves safe online. Here’s a link to a helpful FAQ from the ABA.
Related: GBA's 2014 Security Conference was Thursday and Friday in Savannah. Look for coverage in next week's issue.
Community Bank Charters Show Growth in $100 Million-$1Billion Asset Range
Since 1985, the number of banks nationally with assets between $100 million and $1 billion is up by 7 percent and the number of banks with assets between $1 billion and $10 billion is up by 5 percent. The FDIC released those stats this week along with a research study a research study on long-term consolidation in banking and the implications of this trend for community banks. "The FDIC study clearly demonstrates the strength and resilience of the community bank sector and supports the conclusion that community banks will continue to play a vital role in the financial system of the United States for the foreseeable future," said FDIC Chairman Martin J. Gruenberg. The study found that consolidation has had its biggest net effect on the very smallest and the largest banks. The number of institutions with assets less than $100 million declined by 85 percent between 1985 and 2013, it shows. Access the full study here. The FDIC website data for Georgia only goes back to 1992, so we took a look to see how that trend has played out in Georgia since that time, and there’s a similar story here. It is important to note that the decline in total banks and banks under $100 million are not all bank closures. Traditional mergers, acquisitions and charter consolidations played a role, as did growth by some of those institutions into higher asset categories. See the chart below.
The Georgia Bankers Association is hosting a lunch for Georgia bankers, directors, bank counsel and others to meet recently named acting FDIC Atlanta Regional Director Michael T. Dean. The lunch is Monday, May 12, at the Renaissance Waverly Hotel, Atlanta. “We appreciate Mike carving out some time from his busy schedule to speak to a wide cross-section of bankers and those associated with the industry in an open forum. It’s important for all of us to hear firsthand how he views our state and how he will be approaching his new role,” said GBA president and CEO, Joe Brannen. Dean has served in all areas of the FDIC for 27 years. Before his appointment, he served as Atlanta’s Deputy Regional Director for Compliance and Risk Management since 2002. A native of Folkston, he graduated from Bryan College, Dayton, TN, with a bachelor’s degree in Business Administration and earned his master’s degree from the University of Massachusetts. To register for the lunch, please click here. The registration price is $59 to help defray the costs of hosting the lunch. With questions about the meeting, please contact GBA’s Susie McGehee at 404.420.2010.
Overall risk management, interest rate risk, underwriting quality, concentration risk and compliance are among the supervisory focus points for the OCC’s Atlanta field office, says a CEO letter from the Atlanta Field Office’s Joel Palmer, assistant deputy controller for bank supervision. Palmer discussed many of these at last week’s GBA Southeast Community Bank Symposium in Statesboro. The letter details 11 total focus points that also address security, vendor oversight, training and internal audit procedures. Read the full letter here, with the supervisory focal points on page 9. The letter also gives an overview of performance trends for OCC supervised institutions in the region.
50-Year Bankers to be Recognized at Annual Meeting
GBA is proud to recognize Georgia bankers who have devoted 50 years or more of service to the banking industry. These bankers will be honored at the 2014 Annual Meeting June 15-18 at The Greenbrier, White Sulphur Springs, WV. Please help us properly recognize the bankers who have reached this important milestone by sending a letter to GBA’s Susie McGehee with the following information:
This information must be received by Friday, May 23. Please contact Susie at 404.420.2010 with questions.
In a survey of more than 26,700 savings, checking, money market and CD accounts, personal finance website GOBankingRates.com found that, though credit unions offer higher average rates across all deposit accounts, community banks actually lead the pack with the best rates overall. The highest rate at local institutions was 4.00 percent APY. The Smart Rewards checking account from Home Federal Bank in Shreveport, LA, provides account holders an interest rate of 4.00 percent APY on balances up to $15,000, plus tiered interest rates on balances above $15,000. And, the e-Savings Account from the Bank of Greene County in Catskill, NY, provides a rate of 4.00 percent APY on balances of $1-$1,000. Balances over $1,000 continue to earn interest at 0.25 percent APY. The 10 best rates nationally were all at community banks, with nine of 10 best rates being for checking accounts. Read more here.
The top three bank marketing priorities are to improve share of wallet, grow loans and attract customers, according to a bank marketing trends report by the Aite Group, an independent research and advisory firm focused on business, technology and regulatory issues and their impact on the financial services industry. The group’s research shows that online and mobile advertising as well as social media channels are growing in importance for banks looking to achieve growth goals. Thanks to Tim Pannell of GBA Strategic Partner Financial Marketing Solutions for sharing the information with us. FMS’ Amber Farley will join us to discuss these and other key electronic marketing trends at the GBA Marketing Peer Group May 20 at First Landmark Bank in Marietta. The agenda is:
Congratulations to the following companies that were approved for associate membership at the April 2 GBA Board of Directors meeting:
Associate Members have played an important part of the GBA throughout our 120 years. Today, almost 200 businesses enjoy increased visibility and expanded marketing opportunities, and banks have more options for top-quality, cost-effective products and services. Company descriptions and contact information are available on our website, or contact GBA’s Kenyetta Parks at 404.420.2035 for more information
Last Chance to sign up for Lending and Deposit/Operations Compliance Seminars
Several years ago, per the request of our members, GBA separated one our most popular 3-day compliance programs into two separate seminars. Having these separated into two different programs allows for banks to send different people to different parts of the seminar series. This request was made by bankers who have different employees serving as lending compliance officers vs. deposit and operation compliance officers. We still have many bankers attend both sessions, but for those banks that split lending and deposit compliance among two different people, the strategy has proven successful. Do not miss the opportunity register for either or both of these two seminars. The Basic Deposit and Operations Compliance Seminar is on April 15, and the Basic Lending Compliance Seminar is on April 16-17. Both are being led by Steve Moore of Bank Compliance Services and will be held at Idle Hour Country Club in Macon.
This one-day seminar will teach new account personnel proper account-opening procedures and compliance requirements. Topics to be covered include signature-card contracts, a CIP compliance overview, TIN compliance, individual accounts and much more. The seminar is designed for new accounts representatives, back-up new account personnel, certificate-of-deposit staff, and bookkeeping and accountholder service personnel. GBA will host this seminar April 24 at the Idle Hour Country Club in Macon. Patrice Konarik of Sunwest Training Corp. in Kendalia, Texas, will be presenting. The registration price is $225. Click here to register. With questions, please contact GBA's Danielle Driggers at 404.420.2002.
Register now 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 Analyzing Financial Statements Seminar is April 30 at Idle Hour Country Club in Macon. Click here to register online. With questions, please contact GBA’s Danielle Driggers at 404.420.2002.
Kick-Off Speaker to Discuss Factors Impacting Georgia’s Economic Outlook
Make plans now to attend GBA’s 2014 Rural Development and Lending Conference, May 15-16 in Savannah. This annual conference will start things off with an attendee favorite, Dr. John McKissick, Professor Emeritus of the Center for Agribusiness and Economic Development (CAED), Agricultural & Applied Economics at the University of Georgia. Dr. McKissick will explore the economic outlook for Georgia’s rural economy, placing special emphasis on the factors impacting Georgia’s agricultural sector. See the registration brochure inserted in the print version of the bulletin. Click here to register ($325/pp). To reserve a room at the Marriott Savannah Riverfront at the GBA discounted rate of $182, call the hotel at 912.233.7722 or 800.285.0398. The cut-off date for this rate is Monday, April 21, and rooms may sell out before this date. The hotel is located at 100 General McIntosh Blvd., Savannah 31401.
A fiduciary has a duty to hold the assets of an estate or trust, to administer the assets solely in the interest of the beneficiaries, and to carry out the terms of the trust. Many of the specific categories of duties that fall under these broad classifications will be discussed in this course including basic trust administration, agency relationships, guardianships, and wills and the probate process. Click here to learn more or to register or contact Alison Moreau, 404.420.2034.
Here are instructor-led AIB online classes coming up in April. These courses have weekly assignments as well as midterm and final exams. All you need is a computer, printer and Internet access. Classes with an asterisk require Microsoft Excel Software. Please register two weeks in advance to secure a seat in the class. For more information, contact Alison Moreau, 404.420.2034.
The Exceptional Teller, Disclosures, BSA and ALLL Webinars Coming up
A GBA Webinar is a great way to quickly get the training you need right from the comfort of your office. Here is a sample of upcoming offerings. Check the GBA-U Calendar of Events for any webinars you are interested in at www.gabankers.com.
Webinars are live and allow time for questions and answers. The $255 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 Danielle Driggers at 404.420.2002.
Regulatory and customer scrutiny of bank information security programs is as intense as ever. If you’re reviewing and looking to enhance your bank’s program, consider talking to Gladiator Technology, a ProfitStars® solution. Gladiator Technology is a Managed Security Service Provider located in greater Atlanta that provides information security protection exclusively to financial institutions nationwide, helping secure their networks and protect their non-public information in accordance with FFIEC regulations. Providing best-of-class solutions that complement any core processing platform, they can help you improve system security, prepare for audits, and enhance network performance. Look to the security and IT regulatory compliance experts at Gladiator to help you make the right decisions that will enable you to achieve your security and compliance objectives. Contact Brian Otte, Director of Sales or Mike Bell, Director of Account Management at 1-877-GLADTECH
GBA is pleased to announce an exciting new enhancement to our national buying program through Office Depot. More than 75 frequently used banking supplies have been added to the deeply discounted core list of 300+ items, providing GBA Member Banks with cost savings and increased ordering efficiencies. For more information click here or contact one of GBA’s dedicated account managers:
Don Lachance, Business Development Manager at 678.325.9671 or firstname.lastname@example.org
Cord Lomauro, Business Development Manager at 770.891.8884 or email@example.com
The Georgia Bankers Association offers free job posting resources for our member banks. These listings can be viewed online or through our print publication, the GBA Bulletin, mailed every other week. Resume postings are also available. For more information, please contact Kenyetta Parks at 404.420.2035.
Banks throughout Georgia will be in classrooms and communities Friday, April 11, taking part in national Teach Children to Save Day. Here’s a link to a list of Georgia Banks already participating. And, while April 11 is the official Teach Children to Save Day, banks can participate in the Teach Children to Save program all year long. The ABA program includes free lesson plans, presentation materials and a social media tool kit to make it easy for banks to participate. Click here for more information and to register your participation. If your bank has an activity this week, send us a photo and a brief description and we’ll include it here in our Community Connections feature. Also, please report your activity to us using our Financial Literacy Program Report Card so we can track our members’ efforts to strengthen our communities. For more details, contact Susie McGehee, 404.420.1010.
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. See these and other member community contributions on GBA's Facebook page. Here's our latest installment:
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.
Adairsville – NorthSide Bank
Larry Flowers has been named CEO and president of NorthSide
Bank. In addition to the hiring of Flowers, NorthSide Bank also
appointed two new members to its board of directors, Steven
Fehlenberg and Bruce Thompson.
Albany – HeritageBank of the
Patricia Maxwell has been promoted to Director of Team
Member Development. Joining Maxwell in Team Member Development
will be Training Director Evelyn Ross.
Atlanta – Georgia Primary Bank
Michael T. Hatcher has joined the bank as Senior Vice
President and Commercial Lending Officer.
Atlanta – Midtown Bank and
Larry Hawk has joined the bank as a Vice President in the
Commercial Banking Division.
Cornelia – Community Bank and
Trust, a division of SCBT
Scott Wayne has been named Regional President for northeast
Greenville, SC – CertusBank The
bank appointed industry veteran John S. Poelker interim
President and Dr. Robert L. Wright Chairman of the Board
Lawrenceville – BrandBank
Antoinette “Toni” Hughes has been hired as Vice President
and Compliance Officer.
Lavonia -- Northeast Georgia
Margaret Ayers will celebrate 70 years of service with the
bank May 10. Jeff Lewallen joined the bank as Branch
Manager/Vice President of its Commerce branch. Tammy Riddle
joined the bank as Branch Manager/Vice President of its Toccoa
Lexington -- Pinnacle Bank Mandy
Rawls has been promoted to Manager and Personal Banker in the
Valdosta – The Former Park
Our sympathies to the
family and friends of former Chairman
Jimmy Dewar, who passed away April 7.
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
Georgia Bankers Association I 50
Hurt Plaza, Suite 1050 | Atlanta, Georgia 30303 |
Adairsville – NorthSide Bank
Larry Flowers has been named CEO and president of NorthSide Bank. In addition to the hiring of Flowers, NorthSide Bank also appointed two new members to its board of directors, Steven Fehlenberg and Bruce Thompson.
Albany – HeritageBank of the South
Patricia Maxwell has been promoted to Director of Team Member Development. Joining Maxwell in Team Member Development will be Training Director Evelyn Ross.
Atlanta – Georgia Primary Bank
Michael T. Hatcher has joined the bank as Senior Vice President and Commercial Lending Officer.
Atlanta – Midtown Bank and Trust
Larry Hawk has joined the bank as a Vice President in the Commercial Banking Division.
Cornelia – Community Bank and Trust, a division of SCBT
Scott Wayne has been named Regional President for northeast Georgia.
Greenville, SC – CertusBank
The bank appointed industry veteran John S. Poelker interim President and Dr. Robert L. Wright Chairman of the Board of Directors.
Lawrenceville – BrandBank
Antoinette “Toni” Hughes has been hired as Vice President and Compliance Officer.
Lavonia -- Northeast Georgia Bank
Margaret Ayers will celebrate 70 years of service with the bank May 10. Jeff Lewallen joined the bank as Branch Manager/Vice President of its Commerce branch. Tammy Riddle joined the bank as Branch Manager/Vice President of its Toccoa branch.
Lexington -- Pinnacle Bank
Mandy Rawls has been promoted to Manager and Personal Banker in the Lexington Office
Valdosta – The Former Park Avenue Bank
Our sympathies to the family and friends of former Chairman Jimmy Dewar, who passed away April 7.
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 Bo Brannen.
Georgia Bankers Association I 50 Hurt Plaza, Suite 1050 | Atlanta, Georgia 30303 | 404.522.1501