July 23, 2021  

Advocacy in Action

GBA Opposes Customer Tax Reporting Provision in Infrastructure Funding Mechanism

In the coming weeks, the House and Senate are scheduled to consider a number of proposals on infrastructure and broader measures on budget reconciliation. We’ve been monitoring these proceedings closely as Congress will be seeking revenue to offset the cost of these bills, which will be in excess of $1 trillion. Reports of financial institutions being called upon to report tax information on customers have been discussed. Therefore, GBA has signed on to this letter, along with other state bankers associations, opposing any such requirement for reasons outlined in the letter. With questions, please call GBA’s Joe Brannen at 404.401.0271 or Elizabeth Chandler at 404.372.7893.

 

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CEO / Leader Updates

PPP Updates, Tax Planning Resource, Management Insight and Deficits

Our series of ongoing time-sensitive emails to member CEOs, committee members and other key contacts continued this week. Email alert topics included details and resources about the following:

  • PPP Updates on Direct Forgiveness and Guaranty Purchases: We shared resources about how borrowers may apply directly to SBA for PPP forgiveness. Banks have the option of allowing borrowers to use the direct forgiveness process, and the process is only available to borrowers having loans of $150,000 or less. There was also a procedural notice about how lenders can apply to SBA for purchasing and charging off PPP loans.

 

  • Sub-S & Partnership Tax Relief: There’s a good resource from GBA’s Strategic Partner Monarch Private Capital detailing a law we supported, HB 149 by Rep. Bruce Williamson (R-Monroe), that created a new incentive that can reduce federal tax liability. The article will be of interest to those of you structured as S-corporations or to pass along to clients who are structured as a partnership or as a Sub-S. Read the resource here.

 

  • Managing Across Generations: We shared Dr. Melissa Furman’s slides from the Leadership Conference with information to help leaders manage different age groups in the workplace. Among the nuggets she shared were that people have more in common than differences, and much of the challenge to managing is based more on what she termed “professional maturity differences,” not generational characteristics.

 

  • Deficits: We shared a report from the Congressional Budget Office presenting projections of federal budget deficits, debt, revenues, and spending for the current year and for the following 10 years if current laws governing taxes and spending generally remained unchanged. These reports also provide analysis of the economic path underlying the projections.

If you’d like more information about any of those topics, contact Joe Brannen, 404.420.2026.

 

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Comments Sought on Proposed Risk Management Guidance for Vendor Relationships

We encourage members to take the opportunity to study and comment on recent interagency guidance proposed related to vendor management. The agencies say the proposed guidance responds to industry feedback requesting alignment among the agencies with respect to third-party risk management guidance. The proposed guidance takes into account the level of risk, complexity and size of the banking organization, as well as the nature of the third-party relationship, the agencies said, adding that it would replace each agency’s existing guidance on the topic and would be directed to all banking organizations supervised by the agencies. Of particular note flagged by a member for us, the proposal has guidance on contract negotiations that some community banks may find difficult to meet in real-world applications. Please take a look, send in your comments and share any concerns you have with us, as well. Comments are due Sept. 17. Contact Joe Brannen, 404.420.2026, or Elizabeth Chandler, 404.420.2027, with questions.

 

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Hsu

OCC Open to Joint CRA Re-Vamp

Efforts to modernize the Community Reinvestment Act (CRA) continue to evolve. This week the OCC said it plans to rescind its 2020 rule and now intends to work with the FDIC and Federal Reserve to come up with a joint proposal. “While the OCC deserves credit for taking action to modernize the CRA through adoption of the 2020 rule, upon review I believe it was a false start. This is why we will propose rescinding it and facilitating an orderly transition to a new rule,” said Acting Comptroller of the Currency Michael Hsu. The agencies also issued a joint statement of intent to work together.

 

Related: This will be a topic at GBA’s Compliance Conference Oct. 20-22 at the King and Prince, St. Simons. One session will feature national regulatory trends, and will be led by representatives from the Troutman Pepper law firm’s Washington, D.C.-based regulatory compliance practice. Full agenda details coming soon. Register here.

 

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FHLB Atlanta Extends Provision of Collateral Relief to Oct. 31

A helpful provision in a Covid-19 Relief Program from FHLB Atlanta will continue through Oct. 31 of this year, the bank said this week. Electronically signed or imaged loan modifications or loan forbearance agreements related to COVID-19 will continue to be accepted through the end of October. Also of note, the collateral relief provision providing for acceptance of loans under forbearance agreements as eligible collateral will not be extended beyond July 31, 2021. More details here.

 

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Lott

New Georgia Bank

Moultrie Bank & Trust I/O Files Applications, Joins GBA Insurance Trust

Moultrie Bank & Trust is Georgia’s newest denovo bank. The bank filed its charter and insurance applications with the state and FDIC June 30. We’re excited about the bank, and are honored to welcome it as the newest member of the GBA Insurance Trust. Donna Lott is president and CEO, John Peters Jr. is chief lending officer and Collin Batchelor is CFO. The bank intends to open in the second quarter of 2022 at 500 Veterans Parkway North in Moultrie. GBA Insurance Trust was established in 1965 by a group of community bankers to provide stable, high quality employee benefits. The Trust is run by bankers, for bankers with no profit motive. Contact Senior Vice President Susan Kelley for more information about the Trust and its offerings.

 

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New White Paper on Cryptocurrency for Bankers Now Available

GBA and member bankers have been keeping a close eye on the world of cryptocurrency, and we’ve gotten our hands on a good resource for bankers that explains it well. The new white paper published July 15 provides a high-level overview of cryptocurrency, including its origins and technological underpinnings, and the industry built to support it. The report attempts to map crypto-related business activities to comparable products and activities in the banking space, including existing, ongoing and emerging regulatory issues related to the sector and what to expect in the next 6 to 18 months. Finally, the report provides considerations for banks as they approach the crypto sector either generally or commercially. A full glossary of terms is also provided. Download the report here to read the full text authored by the American Bankers Association (ABA). Thanks to ABA for making this resource available to all GBA members.

 

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Englert

GBA Member Profile

Pastoral Life and the Joy of Customer Relationships with Jessi Englert

When not hard at work on behalf of bank customers at TIB - The Independent Bankers Bank in Alpharetta, FVP/relationship officer Jessi Englert can be found working with her family to care for her two highland cows and donkey on their small farm. “We have a little slice of heaven in Dawsonville where the animals live. We love to stay on the property, spend time with the animals, grill out, and camp together,” Englert said. The At Large member on GBA’s Women in Banking Committee shares the key habit that has helped her build customer loyalty from the very beginning of her career (spoiler alert: call everyone back by the end of the day), the journey that led to her cherished role as relationship officer, the career path she almost took and more in the latest GBA Member Profile.

 

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Join the Record Crowd!

Hotel Cut-Off Extended to July 29 for Group Rate at Women in Banking Conference

Chateau Elan has extended the deadline until July 29 to secure a room at the GBA rate for the upcoming Women in Banking Conference, Aug. 12-13. The number of additional rooms made available is limited, though, so act quickly if you need a room or would like to attend and haven’t reserved a room yet. Please note the hotel is not able to offer our group rate on Friday or Saturday nights following the conference. Click here for all conference info. Questions?  Contact GBA’s Kathy Friestad by email, kfriestad@gabankers.com.

 

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Register for a live membership demo and receive a free 48-hr trial!

Compliance Alliance Offers Compliance Toolkits for Every Bank Department

GBA Strategic Partner Compliance Alliance is a subscription-based regulatory and consumer compliance advisory service with tools, hotlines, and document reviews. Learn more about their unlimited, all-inclusive membership for services that can benefit all areas of a bank, from the board room to the front line. Call 833.683.0701 or email: info@bankersalliance.org.

 

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GBA Partner ServisFirst Offers the Best Plug and Play Credit Card Program--Tailor Made Just for You

Over the next week, when you have a few minutes, please take a look at some of these short and informative videos from GBA partner ServisFirst. You will hear from some of their team members about what sets their agent bank card program apart from all others. You can access the complete library here, or jump to one on the list below.

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The King & Prince,
St. Simons

Compliance Conference - Registration is OPEN!

We’re all gearing up for a visit to the coast for this year’s GBA Compliance Conference. This year’s conference is at the King and Prince on St. Simons, and it begins at 12:30 p.m. on Wednesday, Oct. 20, and ends at noon on Friday, Oct. 22. Our opening reception will be Wednesday evening. The agenda is still coming together, but we’ll have a Washington update and a session by Pam Perdue on vendor management. We'll also cover advertising, fair lending, UDAAP, cannabis banking, a regulator panel, plenty of peer discussions and a leadership/motivational session. Click here to access the event website and to register for the conference. For hotel reservations, call the reservations department at 800.342.0212 and mention you are with the Georgia Bankers Association to receive the GBA rate. With questions, please contact GBA’s Alison Moreau.

 

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Registration includes state-specific manual

Seminar: Georgia Specific New-Account Documentation and Compliance – Aug. 10

Join us Aug. 10 in Macon for the popular New-Account Documentation and Compliance Seminar with Suzie Jones of Training Resources Consulting. This full-day workshop, customized to Georgia state law, teaches essential new account opening procedures, best practices, and compliance requirements. It answers complex questions asked by customers and staff while focusing on vital information for every new account type. Learn more here.

 

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Only Three Spots Left, Hotel Room Deadline July 26!  

The BSA Experience: A Special Message from Terri Sands

 

 

We’re just weeks away from The BSA Experience. Don’t forget to register (there are only three spots left) and book your hotel room. The cut-off date for booking your hotel room is Monday, July 26, 2021 and rooms may sell out before this date!  Click here to learn more and register.

 

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Upcoming ABA Facilitated Online Training!

Facilitated online courses provide an opportunity to meet your learning goals with the benefit of a classroom, but in an online environment. Participants will receive peer interaction in the learning community with the instructor and other students to keep actively engaged and motivated, experienced industry professionals to provide frequent feedback and context to your learning, and convenient weekly schedule with no required meeting times means you decide when to work on course assignments. Check out these upcoming facilitated online training courses:

With questions, contact Alison Moreau, 404.420.2034.

 

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Join Live or Purchase a Recording!

Webinars: Negotiating your Core, HMDA, TRID and more!

Do you have a BankWebinars.com webinar subscription package? Save 10-30% with a subscription package (details here). Use your credits on the webinars below or purchase webinars and recordings individually. View the full calendar here. Questions? bankwebinars@oncourselearning.com.

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Recruit, Retain and Develop the Best Bankers with GBA Career Solutions

 

GBA Job Bank - GBA will post open positions, free of charge, for GBA members. See the open positions in Georgia here. We will also post professional summaries for bank-job seekers on our Bankers Available page. To make the process easy and answer any questions, we've developed this Q & A. Please contact Katina Prokos, 404.420.2021.

 

GBA Strategic Partner BankTalentHQ - The central feature of BankTalentHQ is its national bank-job board. Other key benefits include: resume search access, regional and national reach for your open positions, frequent special offers and custom sales/coaching programs. Visit BankTalentHQ to learn more. See the open positions in Georgia here, or search regionally or nationally here.

 

GBA’s Career Paths for Bankers™ - GBA’s Career Paths for Bankers™ is the most unique, organized and easy-to-use career development resource available for bankers and banks. GBA’s pioneering career development resource is unlike any other in the banking industry. Click here to start mapping your banking career today.

 

Why do people choose careers in banking? Whatever their talents, interests and educational background, there is a career in banking for them. Here are few good reasons to share with folks you know.

 

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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. 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 Katina Prokos and David Oliver, or if your company would like to sponsor this content, let us know. Here's our latest installment:

 

Suwanee - Quantum National Bank

The bank recently completed its Back-to-School Drive for Gwinnett Division of Family and Children Services, colleting more than $1,000 in donations and more than 30 backpacks filled with supplies. Pictured from left are bank President Brad Day and bank team member Nicole Krontz, who handles cash management customers.

 

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Newsmakers

 

Atlanta - Colony Bank

Phillip Casbon has joined the bank’s mortgage banking team as regional production manager, and Kim Casbon has joined the bank’s mortgage banking team as mortgage operations manager.

 

Cartersville - Greater Community Bank

Katie Knight Jones has joined the bank team as a mortgage lender in the Bartow County market. Read more here.

 

Gainesville - Peach State Bank & Trust

Jessica Smith has been promoted to banking officer in the bank's treasury management department. Read more here.

 

Greensboro - BankSouth

Senior Vice President and Chief Compliance and Risk Officer Jim Bedsole recently received his Certified Enterprise Risk Professional (CERP) designation from the American Bankers Association. Jim serves on the GBA Compliance School Board and Compliance Committee.

 

Fitzgerald - Colony Bank

R. Dallis “D” Copeland, Jr. has been appointed as special advisor in a newly created position to work closely with the bank’s executive team.

 

Sandy Springs - Signature Bank of Georgia

Loan Operations Officer Katy Powell recently attended the World Promotions Inc. Viva! Las Vegas 2021 Dance Competition, where she received the Top Newcomer Honor and placed fourth in the overall Competition, led by dance-pro partner, Maximiliano Panesi, representing Daza Dance Studio in Atlanta.

 

Atlanta - Georgia Department of Banking and Finance

Our sympathies to Deputy Commission of Consumer and Legal Affairs Bo Fears and his family in the death of his mother Carolyn Fears this week in Greensboro. Read more here.

 

 

Casbon Jones Smith Bedsole

 

 

Copeland Powell Fears

 

 

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 Katina Prokos.

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