June 17, 2022 

U.S. House Passes Credit Union Bill Expanding Membership Field

The U.S. House Wednesday passed a bill that would greatly expand federal credit unions’ fields of membership and business lending authority. The Georgia delegation voted strictly along party lines, with all the Democrats voting in favor of the bill, and all of the Republicans opposing. GBA and other state bankers associations strongly opposed the bill. The credit union bill was tacked on to a larger financial services legislation package, H.R. 2543, the Financial Services Racial Equity, Inclusion and Economic Justice Act, a package of 13 bills intended to promote racial and economic justice throughout the financial services sector. We’ll continue to oppose the credit unions’ power grab disguised as an economic inclusion opportunity as the bill moves to the Senate for consideration. With questions, contact Joe Brannen or Elizabeth Chandler.

 

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Flatt delivers his State of the
Association address

Flatt Celebrates an Eventful Year as GBA Chairman

One of Luke Flatt’s main priorities for GBA during his year as Chairman was to make sure banks and bankers were appropriately recognized for their leadership during the pandemic. The goodwill earned by the industry is important heading into an uncertain economic period, he said. “It makes me burst with pride to see how you and all our colleagues have shined in the midst of one the most trying periods in recent memory. Just last week, I attended my 50th high school class reunion that was originally scheduled for last year. After everyone had dished out the usual dose of ribbing lifelong friends are famous for, one of my closest friends leaned over the me and said, ‘You bankers deserve a lot of credit for saving the economy. What y’all did with those payroll loans, getting the money out to people when everything was shut down, was impressive.’ Now that was big!” Flatt also reflected on the successful work of the bankers who helped update the Association’s governance and dues structures. “I’m proud of this work because it was a true team effort, and the leaders serving on the task forces showed an amazing knack for setting things up to provide effective representation for our community of Georgia’s bankers well into the future,” he said. Flatt also highlighted how the Association served members through its advocacy, education and services during the year. Read his entire address here.

 

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Wilson, Barber, Perry Elected, New Board Members Installed

At the 130th GBA Annual Meeting June 15, C. Rhodes McLanahan, CEO, First American Bank & Trust Company, Athens, was installed as the 133rd GBA Chairman. GBA members also elected three other officers for 2022-23. Kimberli (Kim) D. Wilson, president and CEO, OneSouth Bank, Blakely, is our new Chairman-Elect, Brad E. Barber, president and CEO, First National Bank, Bainbridge, is Vice Chairman and Timothy M. Perry, president and CEO, The Citizens Bank of Georgia, Cumming, will serve a three-year term as Secretary Treasurer.

 

McLanahan Wilson Barber Perry

 

In addition, new board members were installed for their terms beginning July 1.

  • North Group: Charles DeWitt, chairman and CEO, Tandem Bank, Tucker

  • Central Group: Walker Jordan, president and CEO, Bank of Monticello, Monticello

  • South Group: Brent Sammons, president and CEO, Altamaha Bank and Trust Company, Vidalia

  • At-Large: Al McRae, Atlanta market president, Bank of America

  • Community Bankers Committee Chair: Greg Eiford, president and CEO, TC Federal Bank, Thomasville

  • GBA Services, Inc. Chair: John Barker, president and CEO, First Bank of Pike, Molena

  • Leadership GBA Chair: Candice NanneyPeach State Bank & Trust, Gainesville.

DeWitt Jordan Sammons McRae

 

Eiford Barker Nanney

 

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McLanahan gives his remarks

McLanahan Sets Tone for His Term as Chairman

With a nod to his predecessors, incoming GBA Chairman Rhodes McLanahan took the opportunity to highlight the consistency with which GBA has served members for 130 years. The priorities for GBA to provide the best in advocacy, education and services for bankers have not changed in all that time, and he illustrated that through quoting past chairmen addressing each of those areas. And, he also set the tone for his term by emphasizing the human element in our business. “Despite the many changes to banking over the years, one thing has remained constant and that’s our employees providing the human support element to banking,” he said. “I remind our employees that banking is a commodity until it’s not, and that’s when our customers need that personal connection to help them in times of need.” McLanahan also shared some of his personal history as a third-generation banker and 24-year employee of First American Bank & Trust. Read his remarks here.

 

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Full Spectrum of Banking Covered by Annual Meeting Program

The educational content of the 2022 GBA Annual Meeting touched on all the major issues in banking at the mid-point of the calendar year. Here are some of the highlights.

  • Joan Woodward of the Travelers Institute gave a blended economic and policy discussion. She touched on a number on insightful trends in a truly timely way as the markets were volatile this week, the Fed was weighing rate hikes and the 2022 election season is in full swing.

 

  • During a strategic thinking session, Jonathan Hightower of the Fenimore Kay Harrison law firm and James Stevens of Troutman Pepper led members through some key issues including bond portfolio valuations, regulatory agency trends for compliance and mergers and acquisitions, the de novo environment and cryptocurrency.

 

  • Cryptocurrency, fintech and innovation was also the topic covered by Rob Morgan of the USDF Consortium. Morgan gave a detailed overview of various digital assets, shared the current industry take on central bank digital currency (CBDC) proposals and gave us a peek at some of the more common ways banks are looking to meet customers where they are within the digital currency space.

 

  • With human capital issues at a premium these days, Dr. Melissa Furman of Career Potential took a humorous and fascinating look at generational traits that banks need to understand. These can help leaders better serve customers as well as cultivate an effective culture.

 

  • Lessons and insights from other bankers are always strong programming, and we had two sessions with peer perspectives for CEOs. Kenneth Kelly, chairman and CEO of First Independence Bank in Detroit, actually lives in Georgia. He shared his career background of coming to the banking industry from the electric utility industry, how he connects while working remotely, some of the unique partnerships his minority-owned bank has formed with other institutions to strengthen service in underserved communities, and discussed his book that focuses on preparing properly for passing on their assets.

 

  • Our CEO Panel, moderated by incoming GBA Chairman Rhodes McLanahan, First American Bank & Trust Company, gave peer CEOs a forum for their unique approaches to the issues of the day. Philip Williams of The Claxton Bank, Lucie Beeley of Georgia Community Bank, and Bartow Morgan of the Georgia Banking Company were panelists. They discussed managing the bank and expectations in today’s economic climate, liquidity, deposit and loan strategies, how they’re taking care of their talent, director issues, shareholder relationships and more.

 

  • Jim Morris, the real-life inspiration for the Disney Classic movie, The Rookie, closed the conference with an inspirational message. He told his story of perseverance through the lens of recognizing the need to separate yourself from those in your life who are dream takers and surrounding yourself with those he calls dream makers.

 

 

 

We also had two good breakout sessions:

  • Ryan Harbry of StrategyCorps talked about a variety ways to think about boosting non-interest income, including some unique ways to structure deposit accounts that bring even more value to the bank and to customers.

 

  • Stewart Thigpen and Brad Washburn of Steve H. Powell & Company did a session covering the latest credit quality and compliance trends from around the Georgia market.

Thanks to all our experts for helping GBA deliver best-in-class content for members attending this year’s meeting. We would also like to thank this year's Annual Meeting sponsors:

 

Platinum Sponsors:

 

Gold Sponsors:

 

Silver Sponsors:

 

  • ABA

  • Crescent Mortgage Company

  • CRS Data

  • D.A. Davidson

  • DDI Technology

  • Elliott Davis

  • FHLBank Atlanta

  • First National Bankers Bank

  • Holmes Shaw Agency/PointeNorth

  • Jack Henry Banking

  • Mauldin & Jenkins, LLC

  • Nichols, Cauley & Associates, LLC

  • Primax

  • Qualtik

  • SouthState Bank

  • Travelers

  • Troutman Pepper Hamilton Sanders LLP

  • United Bankers Bank

 

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Wofford and Flatt

Wofford Thanked for Leadership GBA Service

With the adjustment in GBA’s group governance structure and extension of board terms for group and At-Large representatives to three years, there’s only one outgoing board member in this year’s rotation. During the annual Board Dinner, GBA Chairman Luke Flatt recognized Pinnacle Bank’s Jenny Wofford for her service to the GBA Board in representing the Leadership GBA section as its chair this past year. Wofford will complete her term as the Leadership GBA Chair in July at the annual Leadership Conference. Thanks Jenny!

 

Related: The 2022 GBA Leadership Conference is July 11-13 at the Ponte Vedra Inn & Club, Ponte Vedra, FL. Get more details and register here.

 

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GBA Insurance Trust Elects Directors

The GBA Insurance Trust held its annual business meeting June 14 and elected four directors. The following bankers were elected by their peers to serve a three-year term, expiring in 2025:

  • Rick Whaley, The Citizens Bank of Americus

  • Jackson McConnell, Pinnacle Bank, Elberton

  • Brad Barber, First National Bank, Bainbridge

  • Joe Brannen, Georgia Bankers Association

Whaley McConnell Barber Brannen

 

Whaley, as Chairman of GBAIT, also gave a summary of the Insurance Trust’s activities in the past year. Highlights were:

  • 181 banks and associate member companies are members, 12,500+ lives covered

  • Number and cost of claims returning to pre-pandemic levels

  • Wellview partnership continues to thrive

  • New artificial intelligence service to predict future health events and intervene early is being rolled out.

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Copeland shares GBARS
highlights

Copeland Gives GBA Retirement Services Highlights

More than 3,000 Georgia bankers are being well prepared for retirement through their banks’ participation in GBA Retirement Services, Inc. First National Bank of Griffin’s Chuck Copeland is GBA Retirement Services Chair, and he shared some points of pride with members during a session at the GBA Annual meeting this week. They were:

  • $256 million under management

  • 61 member companies

  • 86% of eligible employees participate

  • 64% on track to retire at 70% of income; national average is 25%

  • 83% contribute 4% or more of their compensation

  • Unified Plan battle tested; consistently outperforms broad equity indexes.

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50-year Bankers Honored at Annual Meeting

Throughout the association’s 130-year history, GBA has celebrated the servant bankers who have had iconic careers. At this year’s Annual Meeting, nine bankers were honored for 50 or more years of service to their industry, banks, customers and teammates. Honorees were:

  • Dawn Griffin, a former GBA board member and former president and CEO of Liberty First Bank in Monroe, entered her 50th year in banking before retiring in September 2021.

  • Linda Moseley, deposit operations specialist at Colony Bank, is celebrating her 50th year in banking.

  • Jimmy Rigsby, a board member for Synovus Bank in Augusta, is celebrating 53 years in banking.

  • Jane Trulock, executive vice president and Chief Financial Officer for United National Bank in Cairo, is celebrating 50 years in banking this year.

  • Beverly Wyatt, vice president of deposit quality control at Georgia First Bank, is celebrating 51 years at the bank and the industry this year.

Griffin Moseley Rigsby Trulock Wyatt

 

Two bankers from the Durden Banking Company were recognized:

  • Gail Curl, the bank’s city president at its Metter location, began her banking career in November 1971.

  • Susan Snell retired from Durden Banking Company in December, completing a 52-year banking career.

There were also two bankers from Bank of Monticello to celebrate:

  • Don Kelly, who retired from Bank of Monticello in 2016 but continues to serve on the board of directors, began his banking career in 1972.

  • Steve Jordan, executive vice president and vice chairman of the board of directors, also began his banking career in 1972. He started his career at Central Bank and Trust in Jonesboro, which later became Trust Company Bank of Clayton County. He became president of The Bank of Covington in 1981, and in 1992 he returned to his hometown of Monticello as president and CEO of the bank. Jordan is also a former GBA Chairman and also served as president of Leadership GBA, which was at the time called GBA’s Young Bankers Section.

Curl Snell Kelly Jordan

 

Congratulations to all these career servants on their long and successful Georgia banking careers.

 

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Welcome GBA’s Newest Associate Members

GBA Associate Membership is offered to individuals and organizations that want to do more business with banks as clients. Today, over 220 Associate Members are taking advantage of business development opportunities and affordable access to the latest news and events in Georgia's banking industry, all for about $2 a day. These members also provide invaluable support to GBA’s activities and programs throughout the year through attendance, sponsorships, exhibits and shared expertise. Be sure to get to know them and thank them for their support of GBA. You can get information about any of GBA’s Associate Members by using the Associate Member search function on our website. Click any of the links below to learn more about each member, and please consider these banking industry supporters if you have a product or service need, they provide. For additional information, contact Bo Brannen, bbrannen@gabankers.com. 404.420.2014.

 

 

 

Abram Armored

Mr. Tony Webb, twebb@abramarmored.com

Auburn, GA

www.abramarmored.com

Abram Armored is a full-service Cash-in-Transit company. They provide cash courier needs for community banks including branch cash delivery/pickup; ATM/ITM balance and replenishment; and first line ATM/ITM maintenance.

 

 

Adele Creative Marketing and Design

Ms. Katherine Hanson, k.hanson@adelecreative.com

Thomasville, GA

www.adelecreative.com

Adele Creative specializes in marketing coordination, strategy and messaging for market leading providers of professional services, specializing in banking and financial services clientele.

 

Banc Card of America

Mr. Eric Stubbs, estubbs@banccard.com

Nashville, TN

www.banccard.com

Banc Card provides payments solutions for commercial customers of financial institutions (primarily banks). Banc Card works with more than 600 banks in the US to provide Merchant Services. Their bank partnership program provides a revenue share of non-interest income to banks.

 

Data Center Inc. (DCI)

Mr. Layne Hanson, lhanson@datacenterinc.com

Hutchinson, KS

www.datacenterinc.com

iCore360® award-winning core banking software and iCoreGO® digital banking solutions backed by bankers you know and trust. Companion solutions for Frontline™ teller services, omni channel fraud, fintech processing, private ATM network, custom analysis, vendor management and more. Privately owned and trusted by bankers nationwide.

 

Howard Industries

Mr. Robert Mertz, rmertz@howard.com

Ellisville, MS

www.howard.com

Howard is a value-added reseller, based in Ellisville, MS. In business for over 58 years; they offer a full line of products and services for cyber security, networking, virtualization, Audio Visual, backup, hardware, Kiosks and professional development. Their differentiator is the resources used to design, sell, install and support all their solutions after the sale. They even manufacture their own servers, laptops and desktops.

 

ICI Consulting, Inc.

Mr. Keith D. Hagen, keith.hagen@ici-consulting.com

Saint Petersburg, FL

www.ici-consulting.com

Since 1994, ICI has been a leading financial institution advisor nationwide. ICI is a consulting firm that supports clients by providing core processing and digital banking assessments, vendor evaluations, contract negotiation and conversion services. ICI consultants focus on their clients' business needs resulting in optimal technology solutions and contractual terms while reducing costs.

 

M3 Innovations

Mr. Michael Murphy, michael_m_30126@yahoo.com

Mableton, GA

www.360healthandhygiene.com

The US distributor for sanitizing and upper air purification products for use in banking facilities for germ free conditions for customers and employees.

 

 

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Compliance Alliance Question of the Week

 

Question: We have been notified by our core provider of some changes they are making to the annual escrow statements. They are no longer going to be including a stub at the bottom of the statement with an option to pay an escrow shortage in a lump sum. This is new information to me that this is not an option we can provide. Is this new?

 

Answer: The CFPB did update its FAQs on this topic last year. They indicate that if there is a shortage that is equal to or more than one month’s escrow account payment, the servicer cannot require or provide the option of a lump sum payment on the annual escrow account statement. However, it notes that the acceptance of a voluntary, unsolicited payment made by the borrower to the servicer to satisfy an escrow account shortage is not a violation of Regulation X. Further, the bank is allowed to offer this as an option, provided that the communication is not on the statement itself and does not appear to indicate that a lump sum payment is something that the servicer requires but rather is an entirely voluntary option. See here for the updated FAQs (Escrow Accounts, #5 and #6):

 

Visit www.compliancealliance.com for more helpful Q&A resources.

 

 

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Annual Meeting Platinum Sponsor

Explore What Choice in Debit Looks Like with GBA Partner Discover Debit

A robust debit card portfolio can help you generate more revenue right now. Has your bank’s debit card program been on autopilot for too long? VISA and MasterCard will likely fight to keep your business, but Discover Debit wants to invest in your bank, your customers and your community. Recently-introduced cardholder benefits like credit monitoring and dark web monitoring backed by Experian® mean customers can feel more secure with their new debit card. By implementing Discover’s debit card program, you will also realize an immediate impact on your interchange income and expense. Discover® Debit is the only program that delivers superior economics, simplified rules, fee transparency and unmatched program flexibility. To find out more, contact Jim Lumadue, at jimlumadue@pulsenetwork.com, 716.743.0118.

 

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Annual Meeting Platinum Sponsor

Contact GBA partner EBS for a Complimentary BOLI Assessment Report and Carrier Due Diligence Review Report

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 assist 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. Please contact Michael Pounds at mpounds@ebscomp.com.

 

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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GBAIT Partner Wellview Here to Support Your Health Goals

Men’s Health Week is June 13-19 and Father’s Day coming up this Sunday, so what better time than now for men to focus on their health? GBA Insurance Trust’s partner in health, Wellview, can support you in everything from healthier eating to fitness goals to mental health and more. Wellview services are available to anyone on the GBA Insurance Trust plan. Get started at my.wellviewhealth.com. GBA Insurance Trust provides health insurance and wellness plans for 182 member companies and more than 12,500 members and their families. Contact Lee Monroe and Jayn Lawson for information.

 

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Webinars

ACH Exceptions, Treasury Management, Right of Setoff and More Upcoming

Here’s a sampling of upcoming webinars.

See the full slate of upcoming webinars here.

 

Webinar Promo: On June 15-21 only, GBA members will receive 20% off on Bundles and OnDemand Webinars Series when they use promo code SUMMER20 on BankWebinars.com.

 

 

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

 

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 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’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:

 

Greensboro - BankSouth

The BankSouth Foundation presented three local high school graduates with the BankSouth Foundation Citizenship Award & Scholarship. The recipients were Idania Gabriela Padilla of Greene County High School, Alexander Blake Williams of Nathanael Greene Academy and Sarah Grace Ingle of Lake Oconee Academy.

 

Greenville, SC - United Community Bank

In celebration of American Housing Month, the United Community Bank Foundation announced a new partnership with Habitat for Humanity affiliates across its footprint that will support the cost of local builds and provide local bank team members with the opportunity to volunteer on a build in their area. The foundation will kick off this partnership with a build in Wake County, North Carolina, on July 1 and in Atlanta on July 23. Other builds are planned for South Carolina, Tennessee and Florida this fall, for seven homes in 2022.

 

Padilla Williams Ingle United Community Bank

 

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Newsmakers

 

Atlanta - Craft Bank

Amy Collier has been promoted to Chief Financial Officer.

 

Jonesboro - Heritage Southeast Bancorporation

Heritage Southeast Bancorporation, Inc. and VyStar Credit Union jointly announced a mutual agreement to terminate their purchase and assumption agreement. Read more here. Additionally, Brian Smith, president of Heritage Southeast Bancorp. Inc. and COO of Heritage Southeast Bank, will retire effective July 1. The company named Brad Serff president of the company and chief banking officer of the bank, effective immediately. Prior to the appointment, Serff was first executive vice president of the company and president of Providence Bank, a division of Heritage Southeast Bank. Read more here.

 

Leesburg - Colony Bank

The bank recently announced that Phil Franklin will retire on June 30. Since joining the bank in 2011, Franklin has served in various roles, such as market president and commercial banker. Read more here.

 

Moultrie - Moultrie Bank & Trust

Ginger Boyd has joined the bank as senior vice president and senior operations officer, and Briley C. Edwards has joined the bank as senior vice president and senior credit officer.

 

Rome - River City Bank

The bank announced the opening of its first full-service branch located at 506 Hwy 515 E in Blairsville. Read more here.

 

Pensacola and Tampa, FL - Saltmarsh, Cleaveland & Gund

Saltmarsh Financial Advisors, LLC, affiliate of Saltmarsh, Cleaveland & Gund, was recently recognized by “Accounting Today” as a top firm by total assets under management (AUM). Read more here.

 

 

Collier Serff Franklin Boyd Edwards River City Bank

 

 

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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