May 6, 2022 

Official Notice of GBA Annual Meeting

As stated in GBA's bylaws, the GBA annual meeting is held at a time and place set by the GBA Board of Directors. The official GBA business session of this year's Annual Meeting will begin at 7 a.m. Wednesday, June 15, 2022, at The Breakers, Palm Beach, FL, in the Ponce de Leon Ballrooms IV - VI. We’ll hear a state of the association speech by GBA Chairman Luke Flatt, elect officers, install board members, consider resolutions and recognize bankers who have served 50 years or more in the industry. ABA Past Chairman Jim Edwards, United Bank, Griffin, will also address the membership. Get all the details and register for the GBA Annual Meeting here.

 

Back to top of E-Bulletin


A Look at This Year’s Banking and Compliance Schools

Here are some snapshots from this week’s GBA schools that have been in session since Sunday in Athens. We’ll publish more details, graduate names and honors next week.

 

 

Back to top of E-Bulletin


Ad Thanks Rep. David Scott

Scott

U.S. Rep. David Scott (D-GA-13) is an important voice in Congress on issues affecting agriculture, nutrition, housing and financial services. He is the first Georgian in many years to chair the U.S. House Agriculture Committee and has been a longtime member of the House Financial Services Committee. He often reaches across the aisle to find bipartisan solutions to complex issues and is among the most respected members of Congress. As part of our voter education advocacy efforts, GBA joined the American Bankers Association this week in sponsoring an ad thanking Rep. Scott for his work supporting the Neighborhood Homes Investment Act. That’s an important piece of legislation for his district as it increases affordable housing there and across the country. We have previously co-sponsored ads recognizing his work on the Agriculture Committee, especially those provisions ensuring nutrition programs are included in the major farm bills. "We're grateful to Rep. Scott for his service and his support of sensible policies and thank him for all he has done to help families and the businesses that serve them," said Joe Brannen, GBA president and CEO. Click here to see the ad.

 

Back to top of E-Bulletin


Warnock Holds Senate Subcommittee Hearing on Overdrafts

Warnock

Earlier this week, Georgia Senator Rev. Raphael Warnock chaired a hearing of the Senate Banking Subcommittee on Financial Institutions and Consumer Protection focused on bank and credit union overdraft programs. The hearing also featured testimony from David Pommerehn, Senior Vice President and General Counsel at the Consumer Bankers Association, Aaron Klein, Senior Fellow in Economic Studies at the Brookings Institution, and Jason Wilk, Founder & Chief Executive Officer at fintech company Dave. In his opening statement, Sen. Warnock set the tone by recognizing some banks had reduced or eliminated overdraft fees, but for those that haven’t, he said, “We must hold financial institutions accountable when they juice their profits off the backs of struggling, vulnerable Americans.” Ranking Member Thom Tillis (R-NC) used his opening statement to remind Senators of the regulations around overdraft and through the opt-in requirements, customers knowingly rely on overdrafts as a form of short-term credit that they may not be able to access elsewhere. In his testimony, rather than prescriptively ban or otherwise put price controls on overdrafts, Pommerehn suggested that lawmakers explore options to reduce the risk that banks or their customers rely too heavily on overdraft services and fees, including the broader encouragement of bank-issued small-dollar loans. In his closing statement, Sen. Warnock said, “Lowering onerous fees is something I will keep pushing for through collaborating with financial institutions and, when necessary, through legislation.” With questions, contact Joe Brannen, 404.401.0274 or Elizabeth Chandler, 404.372.7893.

 

Back to top of E-Bulletin


FDIC, Fed and OCC Joint CRA Proposal

We’re digging into the notice of proposed rulemaking FDIC, the Fed and OCC published to revise the Community Reinvestment Act. The biggest changes we’ve noted so far are new retail lending assessment areas to allow for CRA evaluation in communities where a bank may be engaging in significant lending activity but where the bank does not have a branch, how the proposal raises the bar for CRA performance on the retail lending test in order for a bank to earn an outstanding or high satisfactory rating, and the availability of metrics the regulators say is intended to allow for greater transparency and certainty for banking institutions in meeting their CRA responsibilities under the retail lending and services tests and the community development financing and services tests. GBA will be working on a comment letter, so be sure and let us have your feedback. Click this link to read the proposal. Set aside some time; it’s 678 pages long.

 

Back to top of E-Bulletin


Time to Represent in National Community Bank Survey

We encourage members to take part in this year’s National Survey of Community Banks. The annual survey is a key component of the big annual Community Banking Research Conference sponsored by the Conference of State Bank Supervisors (CSBS), the Board of Governors of the Federal Reserve System (FRB), and the Federal Deposit Insurance Corporation (FDIC) held in the fall. This information really helps inform regulators about things most important to you as bankers and survey results will be a good takeaway for bankers as you’re doing strategic planning. This year’s questions focus on current banking conditions and emerging issues, such as technology and inflation, product service design and offerings, and the future of community banking. The deadline is July 15. Take the survey here.

 

Back to top of E-Bulletin


Rural Development and Lending Conference Early-bird Registration Ends May 11

Now’s the time to act to get the best registration price for the GBA Rural Development and Lending Conference. Early-bird registration ends May 11, so sign up before the price goes up by $50. This year’s conference includes an ag economy update, an overview of our ports, peanut, timber and other crop updates, cool new tech trends and more. Get more details and register here.

 

Back to top of E-Bulletin


 

 

Back to top of E-Bulletin


New GBA Guide to Bank Record Retention is Now Online with Over 75 Recent Changes

Featuring Bank Record Retention Quick Notes©, by Carl Pry

The GBA is pleased to announce that the updated GBA Guide to Bank Record Retention, featuring Bank Record Retention Quick Notes©, by Carl Pry, is now available for purchase. Including over 75 recent changes, the newly released edition is further streamlined to assist bankers at every level. Additions include new independent sections on both Trusts & Estates and Audit as well as numerous other relevant updates throughout the rest of this unique industry guidebook. It is designed to be a fast and easy-to-use reference for the most common types of records questions that bankers encounter in a completely online format. Please note we no longer have printed copies available for purchase and the copyrighted guide cannot be shared. The price for one user login is $125.00 + tax.

 

The Quick Notes refer to federal or general industry practices in six broad topic areas: General; Deposits and Operations; Loans; Securities; Human Resources; and Tax. They also contain the available requirements of FinCEN, CFPB, OCC, NACHA, IRS, SEC, FDIC, FRB and the Georgia Department of Banking & Finance.

 

We hope that you will find this to be a valuable resource to help your bank. Please contact GBA’s Bo Brannen at bbrannen@gabankers.com, to place an order.

 

Please contact us for pricing of multiple logins.

 

Back to top of E-Bulletin


May 27 Deadline Nearing for Compensation Survey

Head’s up that the deadline is May 27 for the Georgia Banking Compensation Survey. We don’t want any members to miss the opportunity to help you and your peers get a clear picture of the compensation environment. The survey will cover 280 different positions and include data about:

  • Base salary

  • Short- and long-term incentives

  • Total Cash/Target/Direct Compensation

  • Mortgage Originator Compensation

  • Commercial Loan Officer Compensation

  • Miscellaneous Human Resources Practices

Participants get a significant discount on the final survey report. Attract, motivate and retain the best talent with access to the metrics and insight you need to create a well-designed compensation program. Get more details here. Contact GBA’s David Oliver at doliver@gabankers.com or Pearl Meyer’s Rhonda Snyder at rhonda.snyder@pearlmeyer.com to participate.

 

Back to top of E-Bulletin


Whitaker

Women in Banking Conference - Register Now to Attend Aug. 11-12

If you are a GBA woman banker or Associate Member, you don’t want to miss GBA’s annual Women in Banking Conference, Aug. 11-12 at the Chateau Elan Winery & Resort in Braselton. Educational sessions will include a variety of topics: an economy/political outlook; an executive leadership panel; CRM; project management; and our closing speaker will be Laura Whitaker, CEO of ESP (Extra Special People), who was thrust into a leadership role at the age of 19 and has an incredible story to share about her journey and growth as a person and leader. There is time set aside to network with and get to know fellow women bankers from across our state!  Click here to access the conference website and get details about registration and hotel reservations. Thank you to our conference sponsors: McNair, McLemore, Middlebrooks & Co; Abram Armored; FHLBank Atlanta; Mauldin & Jenkins; Southern Bank Equipment & ATMs; Starfield Smith, PC, Attorneys at Law; Troutman Pepper; and Warren Averett CPAs and Advisors. Questions about the conference or the committee? Contact GBA’s Kathy Friestad.

 

 

Back to top of E-Bulletin


Continued Market Volatility Impacting 401(k) Plans

Retirement portfolios faced several headwinds in the first quarter of 2022 as prices declined across most major asset classes. The bond market experienced one of its worst quarters on record, as yields moved significantly higher. U.S. equities registered their first quarterly loss since March 2020. Fears about the economic implications of Russia’s large-scale military attack on Ukraine and the prospect of aggressive monetary policy tightening by the Fed drove the S&P 500 Index into correction territory in February.

 

Sentiment has shifted negative as corporate earnings have slowed. Companies are facing several headwinds, such as cost inflation, along with persistent labor and supply challenges. Despite these headwinds, there are reasons to be optimistic as analysts are projecting 2022 earnings and revenue growth of nearly 10%.

 

As the market has continued to be volatile over recent months, many employees nearing retirement are still concerned about their 401(k) balances and how they can retire as originally planned. The best way to weather storms like this is to maintain a long-term focus and keep a well-diversified portfolio. It’s also important for participants to continue making contributions and receiving their employee match. It’s a great buying opportunity while the market is low. Over 87% of participants in the GBA Master 401(k) Plan are invested in our Managed Account Solution, which becomes more conservative as the participant gets closer to retirement age, and also adds a wealth preservation strategy for those who are five to seven years from retirement. Diversification is key and having a professionally managed account helps participants with asset allocation and to focus more on long-term goals.

 

If you would like GBA Retirement Services to help with your next plan review, we can provide a detailed fee and investment comparison of our 401(k) services to your current plan. Please contact Mandy Richards at 404.420.2025 for more information.

 

Back to top of E-Bulletin


Recognition Opportunity for Community Programs

Now’s your bank’s chance to be recognized for the variety of ways it serves your hometowns. The entry period is open for the 10th-annual ABA Foundation Community Commitment Awards through July 1. We’d love to see some Georgia banks recognized. There are eight categories for the awards: affordable housing, community and economic development, financial education, economic inclusion, protecting older Americans, supporting military families, volunteerism and the George Bailey Award for a non-CEO recognizing service. Get more details and enter here.

 

Back to top of E-Bulletin


Reminder: Complimentary GBA Member Decals Available by Request

We have heard recently from a few GBA member banks needing additional GBA member decals to display on the doors and drive-thru windows at their branches. If your bank needs additional decals for new locations, or to replace torn or faded decals, please contact GBA’s Bo Brannen at bbrannen@gabankers.com, and we’ll be happy to send you some more.

 

Back to top of E-Bulletin


 

 

Back to top of E-Bulletin


Webinars

Loan Mods, Regs E & Z, BSA Policy Tips and More

Here’s a sampling of upcoming webinars.

See the full slate of upcoming webinars here.

 

Back to top of E-Bulletin


Why Banks Need to Prepare Now for Greater Costs, Revenues

From GBA Partner IntraFi Network

The Federal Reserve is winding down its tapering program and eyeing faster rate hikes to curb inflation. For banks, higher rates mean more revenue potential, but they also mean higher costs. Given this, it’s no surprise that our most recent quarterly survey showed that 63% of bank executives expect funding costs to increase over the next 12 months (a 34-point jump from Q3), and 42% expect competition for deposits to increase (an 11-point jump from Q3). This anticipated pressure on funding follows a two-year period in which banks have been completely saturated with liquidity. Meanwhile, 59% of executives anticipate loan demand to increase in 2022 (an 11-point jump from Q3), and 80% expect economic conditions to improve or remain the same. With the costs of funding soon to rise and the business environment showing signs of improvement, now is the time to begin preparing for the future. Here are two suggestions from GBA partner IntraFi Network to consider. With questions, please contact Danny Capitel at 703.292.3476 or dcapitel@intrafi.com.

 

Back to top of E-Bulletin


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.

 

Back to top of E-Bulletin


 

 

Back to top of E-Bulletin


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:

 

Atlanta - Ameris Bank

As part of the Georgia HEART Hospital Program, Ameris Bank has donated $1,805,000 to 18 rural hospitals throughout Georgia. Ameris Bank has participated in the program since 2018, contributing more than $7,800,000 to rural Georgia hospitals.

Augusta - Pinnacle Bank

The bank’s Furys Ferry Branch recently made a donation to Columbia County Community Connections. That group supports the community by working to help children be safe, healthy and educated. It also provides family support.

Dublin - Morris Bank

The bank recently celebrated the graduation of its 2021-2022 Leadership Advisory Council with a graduation trip to Chick-Fil-A corporate headquarters.

Eastman - Great Oaks Bank

The bank celebrated Teach Children to Save Week April 25-29 through local outreach to area schools located near the bank's six offices. Great Oaks bankers taught savings education to 10 schools across Georgia, reaching 658 first and second graders. Students in Dodge, Bleckley, Effingham, Bryan and Chatham counties learned the importance of savings and responsible places to keep their money. Read more here.

Richmond Hill - Great Oaks Bank

Great Oaks Bank is hosting a Free Community Shred Day on Friday, May 6, 2022, from 9-11 am at its Richmond Hill office located at 42 Town Center Drive.

 

Back to top of E-Bulletin


Newsmakers

 

Athens - American Pride Bank

The bank recently held a grand opening of its new branch in Athens at 1010 Pine Ridge Court. Members of the Athens Area and Oconee County Chambers of Commerce were on hand to help celebrate.

 

Atlanta - United Community Bank

Christian Ngo has been promoted to Senior Vice President, Middle Market and Asset Based Lending Relationship Manager.

 

Moultrie - Colony Bank

Cole Posey has been promoted to Moultrie Market President. Read more here.

 

Savannah - Great Oaks Bank

The bank opened its newest office in Savannah on May 2. The Savannah office is located at 7426 Hodgson Memorial Drive. Read more here.

 

Milledgeville - Exchange Bank

Laurie Gilmore and Jo Jones were recently elected to the bank’s board of directors. Gilmore and Jones had previously served on Exchange Bank’s board as advisory members. Read more here.

 

American Pride Bank Ngo Posey Great Oaks 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.

Back to top of E-Bulletin