June 4, 2021  

Prices, PPP and EIDL Updates

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

  • The PPP portal closed last weekend. In the current round, 416,058 Georgia small businesses have had loans approved for $11,056,741,932. Nationally, 11.6 million loans were made totaling almost $800 billion.

  • An FAQ from SBA on Returned EIDL Targeted Advance Deposits

  • An interesting chart about price increases, along with some indicators of possible inflation

  • Gov. Kemp’s latest executive orders. One extends the Public Health State of Emergency through June 29, 2021, and another lifts the remaining restrictions on restaurants, bars, conventions, child care facilities and live performance venues.

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

 

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Lamb

Graduate School of Banking at LSU Completes Successful Term

Congratulations to the graduates of the 2021 class at the Graduate School of Banking at LSU. GBA is among the 15 state bankers associations sponsoring the school, and with this year’s class, 1,681 Georgia bankers have successfully completed the intensive 3-year program conducted during two weeks in successive years. This year, 38 Georgia bankers were enrolled. We were glad to see first-year student Madison Lamb, Bank of Dawson, Shellman, be elected by her fellow classmates to the school’s Advisory Council. She’ll serve in that position for the duration of her tenure. The Council provides invaluable insight and feedback to the school’s administrators and Board of Trustees about matters ranging from curriculum to the student experience. The school adapted to the current environment by hosting a combination of an in-person experience for the third-year class for the last week, while virtual learning was the order of the day for the first week and for the first- and second-year students. In-person instruction resumes next year when the school will be held on the LSU campus May 23-June 3, 2022. Mike Allen, Cadence Bank, Atlanta becomes the school president next year and Ryan Earnest, president and CEO, Heritage First Bank, Rome, and a 2008 school graduate, will begin his second two-year term on the Board of Trustees.

 

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Georgia Department of Banking and Finance Issues Proposed Rules and Regulations

Pursuant to all applicable statutes, the Department of Banking and Finance issued notice of its intent to adopt new rules this week. A synopsis of each proposed rule and its purpose precedes the proposed rule in the detailed notice from the DBF. Any comments are due on Thursday, July 1, 2021, and clear instructions for doing so are included in the notice. With any questions, please contact GBA’s Joe Brannen at 404.401.0274 or Elizabeth Chandler at 404.372.7893.

 

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GBA In the News

How GBA Served Members in the Pandemic

Just as banks have GBA as resource, GBA has an association that’s helpful to us with ideas and best practices on how to serve members. We share ideas with our peer associations, too, and were honored to be featured in this quarter’s Georgia Society of Association Executives (GSAE) magazine about our pandemic response. The story highlights the various ways we adapted to serve you as members, as well as some interesting stories about other industry association responses. Read the story here.

 

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Rooms Still Available!

There’s Still Time to Get Signed Up for Leadership Conference

We’re just five weeks away from our annual Leadership Conference, July 12-14 at the Ponte Vedra Inn and Club, Ponte Vedra, FL. We have a handful of rooms left, so act quickly to register and reserve your accommodations. Who should attend? Young or newly appointed c-suite bankers, senior officers, department heads, business development officers, and those with community relations and/or government relations responsibilities or interests. And if you are a member of a 2021 Leadership Roundtable, your registration is included in your roundtable fee (contact GBA’s Kathy Friestad for the registration code). If you’re already signed up, don’t forget to get your kids registered for the two evening events - click here to do that. That link will also provide access to a detailed conference agenda and all the 4-1-1- you’ll need to make or finalize your plans. Thanks to conference sponsors Anthem; CSRA Business Lending; Federal Home Loan Bank of Atlanta; Fenimore, Kay, Harrison & Ford LLP; Fiserv; Holmes-Shaw Agency; Mauldin & Jenkins; McNair, McLemore, Middlebrooks & Co., LLC; Point to Point Environmental; Troutman Pepper LLP; and Wipfli. Sponsorships are still available. Contact GBA’s Kathy Friestad with questions about sponsorship or the conference.

 

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Breaking News

Deadline Extended for Compensation Survey

The need for quality market intel on compensation trends has never been so important, so we’ve extended the deadline for submission to the 2021 Georgia Banking Compensation Survey. The new deadline is Friday, June 25. Please participate in building the most detailed data on banking compensation and pay practices in Georgia to help you fine tune your compensation strategy. Here’s a detailed description about the benefits of participating and a sample of the information the reports provide. Participating banks get a significant discount off the survey report. Participant pricing will be $595, and non-participant pricing will be $1,375. The survey results will be published Aug. 9. Past participants participation packets and updates from Pearl Meyer’s Rhonda Snyder, rhonda.snyder@pearlmeyer.com. If you need information or want to participate, contact Snyder or GBA’s David Oliver.

 

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Labor, Retail, Tourism Show Improvement

The Atlanta Fed’s portion of the Beige Book economic summary out this week cited “modest expansion” in the Sixth District economy. In its write-up of the overall environment, the Atlanta Fed pointed out it was a welcome return to a mostly pre-COVID type summary. “The labor market has improved, retail sales have climbed, and even tourism and the hospitality industry have strengthened across the Atlanta Fed’s six-state district from mid-February through March,” the Atlanta Fed’s Economy Matters website said. Also of note, the region’s banks reported steady conditions, flat loan balances and good credit quality. Read the report here.

 

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Ideal for New or Aspiring Lenders: Recording Included with Registration!

GBA Webinar: Breaking into Banking 101 – June 23

Commercial banking can be intimidating because of its complexity and the risk-oriented nature of the work. This webinar is a clear and thorough introduction to the key concepts, terminology, and processes involved in credit and lending. It doesn’t assume much prior knowledge of the topic, so it’s ideal for those in their first year in the industry. Learners will walk away with a clear understanding of their job and how their specific role fits into the bank’s overall profitability goals. Speaker: Andy Keusal, Keusal Learning. For all the details and to register, click here. Keusal also recorded this video message for prospective attendees:

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GBA Endorses Asset Auction Services of Swainsboro-based South Auction

GBA is pleased to recommend the auction services offered by Swainsboro-based South Auction. South Auction has held auctions all over the country. In business for over 20 years, they have become a trusted resource for banks, attorneys and individuals in need of auction services. South Auction can work with your bank to find creative solutions for bank-owned assets, and they can be a resource for your clients who may need to sell assets quickly to protect their equity in real property. To learn more about South Auction, click here. Contact South Auction’s Joe Lanier with questions at joe@southauctiongroup.com or 478.455.1861.

 

 

 

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Sands

New location, Athens, GA! Limited Enrollment

Spots Filling up Fast for On-campus BSA Experience!

We’re teaming up with Terri Sands of Secura Risk Management to present the third annual BSA Experience! This year’s program is designed to provide the most pressing topics for BSA officers and support teams such as regulatory expectations, emerging trends that impact your daily BSA, increased fraud and changes to the BSA laws and regulation such as the updated FinCEN guidance on Anti-Money Laundering Act of 2020. This year, we are offering a great program that provides subject matter experts and practical tools to simplify BSA compliance. In addition, each attendee will leave with two certificates to reflect the completion of The BSA Experience. Click here to learn more and register.

 

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Learn the Advantages of Bank Owned Life Insurance (BOLI) Programs from EBS

GBA Strategic Partner EBS specializes in the placement and service of Bank Owned Life Insurance (BOLI). Their programs use BOLI to finance existing employee benefits and informally fund new or existing nonqualified executive benefit plans. EBS offers implementation and plan design services as well as administrative services. If you have BOLI now and need or want to consider a new servicer, EBS can help you with compliance and reports essential for your bank, board and regulators. Given the fiduciary responsibilities of bank management and board members, it is crucial that banks partner with experienced and qualified professionals to service their BOLI programs and Nonqualified Plans. EBS provides comprehensive service through a group of qualified professionals with specialized expertise in insurance and public accounting. Each client is assigned a specific service team with extensive back office support. The professional designations held by members of the organization include CPA, JD, CLU, MSFS, MBA, CFP, ChFC and others. Under the guidance of EBS, billions of dollars of BOLI face amount have been placed with the highest-rated carriers offering institutional pricing. Their informal funding solutions are built on sound economic foundations and are conservatively structured from a tax perspective. As an added benefit to GBA members, EBS will provide a complimentary, customized BOLI Assessment Report and Carrier Due Diligence Review Report. Contact Jim Foyt at 877-242-9751.

 

EBS, a bank consulting company, does not engage in the practice of law or accounting. Any questions concerning legal, tax or accounting advice should be referred to your appropriate counsel or advisors.

 

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Fuselier

Aug. 12-13, Register Now!

Women in Banking Conference Welcomes Wellview Health Advisor Heather Fuselier

Anticipation is high for the in-person return of GBA’s Women in Banking Conference. Don’t put off registering for this year’s event, Aug. 12-13 at Chateau Elan in Braselton. This is a popular educational and networking events for top women bankers in Georgia, and we’ve got an excellent slate of speakers planned. We’re excited that Wellview Health Advisor Heather Fuselier will be with us to help us shift out of survival mode and into a new gear. Fuselier, a Certified Personal Trainer, Tobacco Treatment Specialist, and Certified Wellness Coach, will teach us how to change self-talk patterns that can hold us back, set boundaries that protect our values and priorities and fine-tune goals to end the year on a high note. Don’t miss this, or any of the other great conference sessions. Click here to see the complete agenda, to register and for info on reserving your hotel room. Thanks to our conference sponsors: ATM Solutions; FHLB of Atlanta; Fenimore, Kay, Harrison & Ford; and McNair, McLemore, Middlebrooks & Company. Questions about the conference? Contact GBA’s Kathy Friestad.

 

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The King & Prince

New Location: Compliance Hits the Island

GBA Compliance Conference Oct. 20-22 on St. Simons

If you are the compliance officer at your bank, or an Associate Member with compliance responsibilities and expertise, please join your peers for the GBA 2021 Compliance Conference Oct. 20-22 at the King and Prince Beach & Golf Resort on St. Simons. The committee is finalizing the agenda but topics will include:

  • Fair Lending

  • Cannabis Banking

  • Compliance Review How To

  • Industry Update

  • Online Account Opening

  • Advertising

  • And MORE!

Registration will open soon, but if you have questions, contact GBA’s Alison Moreau, 404.420.2034.

 

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Jones

In-Person 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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Join live or purchase a recording!

June Webinar All-Access Pass

Gain access to a month’s worth of live webinars for just $795! June is a perfect time to explore the variety and depth of topics you can choose from to complement your compliance training program. We offer webinars for all financial institution professionals from the front line to the board room. Click here to learn about the June All Access Pass!

 

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 individually. View the full calendar here. Questions? Email: 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:

 

Milledgeville - Exchange Bank

Exchange Bank’s New Horizons Travel Club just completed its first trip in more than 15 months. In May, New Horizons Director Kelly Anderson escorted 24 travelers to the painted canyons of the west. They visited Moab, Zion National Park, Bryce Canyon, Arches, Canyonlands parks and completed their journey in Las Vegas. Read more here.

 

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Newsmakers

 

Albany - Colony Bank

Heath Gilbert has been promoted to senior credit officer, senior vice president. Read more here.

 

Greenville, S.C. - United Community Bank

United Community Banks, Inc. and Aquesta Financial Holdings, Inc. announced on May 27 a definitive agreement for United to acquire Aquesta, including its wholly-owned subsidiary, Aquesta Bank. Read more here.

 

Rome - River City Bank

Director of Technology and Digital Services Rebecca Gilliam recently earned the Project Management Professional (PMP) certification. Read more here.

 

Savannah - First Chatham Bank

Mark McRae has joined the bank as a senior vice president and a market credit officer.

 

Watkinsville and Elberton - Oconee State Bank and Elberton Federal Savings and Loan Association

The boards of Oconee Financial Corporation and Elberton Federal Savings and Loan Association announced June 1 that the organizations have entered into a definitive agreement for the merger of Elberton Federal and Oconee State Bank, a wholly owned subsidiary of Oconee Financial Corporation. Read more here.

 

Atlanta - Wipfli

Ryan Barrow has been named a partner in the firm’s financial services area. Read more here.

 

 

Gilbert Gilliam McRae Barrow

 

 

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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