Sept. 23, 2022 

Statewide Deposits Increase by 5%

The FDIC deposit market share report released last week shows that banks doing business in Georgia held $351.6 billion of in-market deposits on June 30. That’s up 5% from the $336.4 billion in 2021. There were 197 banks reporting deposits in Georgia, with 150 of those headquartered here, and 47 institutions from 19 other states reporting. New entrants were from New Jersey and Connecticut. See our map below. Note that the scale doesn’t allow for the numbers to show for the one bank in Connecticut and two in Delaware. Access the full market share list here.

 

 

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HR Committee Talks Shop, Plans Programming

Recruiting, competition for talent, compensation and benefits, internal training, HR-tech and employment screening were among the top-of-mind issues discussed by our volunteer committee of Georgia bank human resources leaders this week at their fall meeting. The meeting was led by committee Chair Terry Kennedy, Exchange Bank, and Vice Chair Lance Whitley, Colony Bank. Committee members also laid the groundwork for the programming of the 2023 HR Professionals Institute, which will be March 22-24 at the King and Prince on St. Simons Island. Go ahead and mark that date on your calendars and look for registration information and details on the program soon. With questions, contact Alison Moreau, 404.420.2034.

 

The GBA HR Committee meets
in Macon
Terry Kennedy, Exchange Bank,
leads the meeting
Julia Shadwick, Pineland Bank, shares
her perspective

 

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House Version of Card Routing Bill Introduced

This week, GBA voiced strong opposition to another bill in the U.S. Congress to create new credit card routing mandates. As we did for the Senate version of the bill with our U.S. Senators last month, a joint letter to Georgia’s U.S. House members from GBA, CBA of Georgia and the Georgia Credit Union Affiliates outlined the potential pitfalls of the bill. We noted how the proposed legislation would increase cost and complexity for financial institutions, erode security for consumers and not reduce costs passed to consumers by merchants. “There’s no evidence those merchants have passed on savings as promised for changes mandated for debit card routing by prior legislation, and consumers are, in fact, harmed by reduced network quality, reduced consumer protections, and reduced security,” the letters to our representatives say. Click here to voice your opposition to the legislation. With questions, contact Elizabeth Chandler at 404.372.7893 or Joe Brannen at 404.401.0274.

 

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Hill, McKernan Nominated for FDIC Board

President Biden this week nominated two people to fill vacant seats on the FDIC Board of Directors. The nominees are Travis Hill as vice chair and Jonathan McKernan as a member. Hill previously worked at the FDIC for four years as senior adviser to the chairman and deputy to the chairman for policy. McKernan is currently senior counsel at the Federal Housing Finance Agency. Both are Republicans, as the law states the FDIC Board may not have more than three members from the same party. The current chairman, comptroller of the currency and director of the CFPB are members of the Board who are Democrats. Read more here.

 

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Leader Updates

Candidate Profiles, Business Court and CPI Insight

Our series of regular email updates to CEOs, committee members and other key leaders continued this week. In addition to some analysis of the deposit market share report from FDIC, topics included:

  • Polling and Profiles: We shared the first Quinnipiac University poll of the year on the race for Georgia governor. Gov. Kemp polled at 50%, which is a narrow lead over Stacy Abrams at 48%. We also shared a couple of profiles of Kemp and Abrams that were recently published by the National Journal.

 

  • Business Court: Gov. Kemp has nominated Bill Hamrick to lead the state’s business court. Hamrick is a former state senator and former chairman of the Senate Banking and Financial Institutions Committee. GBA was among the organizations supporting the creation of a statewide business court with the idea that complex business litigation could be handled more efficiently in a specialty court instead of in the traditional court system.

 

  • CPI Insight: The Bureau of Labor Statistics showed that inflation as measured by the Consumer Price Index was up 8.3% in the past year. Metro-Atlanta’s increase was reported as 11.7%.

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

 

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Corcoran

GBA Staff Profile

Meet New GBA Team Member Aimee Corcoran

As members interact with GBA’s new Professional Development Manager Aimee Corcoran for the first time, they will pick up right away on her passion for our industry and can-do attitude. “I really enjoy connecting with people and learning from them,” she said. Aimee plans and oversees GBA’s Compliance School, HR Professionals Institute, Marketing Conference, Security Conference, Compliance Conference and seminars, and we were fortunate to have her join us from the world of banking in order to serve our members. In her GBA Staff Member Profile, Aimee shares some interesting facts about herself. For example, she owns chickens and honeybees and enjoys spending time outdoors in her backyard gardening with her family. She also recommends “The 21 Irrefutable Laws of Leadership” by John Maxwell as a master class in leadership and life. Learn more about Aimee in our latest GBA Staff Profile, and she can be reached at acorcoran@gabankers.com or 404.420.2035.

 

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Place your order by Sept. 30!

Make Plans Now to Use GBA’s Holiday Closing Decals in 2023

For over 30 years, the GBA has been the source for banks to purchase top-quality, thoughtfully designed Holiday Closing Decals, that provide a professional appearance and communicate the federal holiday closings recognized by the Federal Reserve Bank in accordance with FDIC rules. Each set includes 12 unique decals, including a blank decal that can be used for half-day or inclement weather closings. To place a new order, please contact Bo Brannen at bbrannen@gabankers.com, or 404.420.2014. GBA Holiday Closing Decals feature:

  • A unique decal for each holiday

  • Large 6"x 9" size to maximize visibility

  • No messy adhesive for easy removal and reapplication

  • All-weather durability

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Valdosta State University

South Georgia Community Bank Symposium – Oct. 13

Networking, Fellowship and Content to Shine

We’re happy to be back live on the Valdosta State University campus in a few weeks for the South Georgia Community Bank Symposium Oct. 13. Make time to spend the day with your fellow bankers from around the region to network and learn the latest about banking in south Georgia. We’ve got a great program with sessions covering the economy, strategic planning, ag banking, initiatives at Valdosta State University and an industry and regulatory update. Bring a team of bankers to enjoy a good program, lunch and fellowship with your fellow bankers. The event is co-hosted by GBA and Valdosta State University’s Harley Langdale Jr. College of Business Administration. Get full details and register here. With questions, contact David Oliver, 404.420.2036.

 

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Conference Countdown

Compliance, Financial Risk Management and Credit Coming up

Register now for our signature fall professional skill conferences.

  • Compliance Conference: Oct. 19-21, Jekyll Island: Fair lending, crypto & cannabis, flood, HMDA, overdrafts, D.C. update and more. Note: There is an alternate hotel right across the street from the Westin, the Home2 Suites by Hilton Jekyll Island, 912.319.6019.

 

 

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Konarik

Alert

How to Get Ready for New IRA Rules

There are some new rules related to minimum required IRA distributions we’ll cover in our upcoming Advanced IRA virtual seminar Oct. 13 presented by Patrice Konarik, Sunwest Training Corp. Here are some of the questions that will be answered during the seminar:

  • Which non-spouse beneficiaries can still skip RMD death distributions in years 1-9?

  • Which non-spouse beneficiaries will have to begin a Single Life Death distributions the year after the owner dies?

  • Does the age of the owner make a difference in beneficiary payout options?

  • Whose age do we use the calculate distributions to beneficiaries?

  • What do we do with beneficiaries who did not take a death distribution last year?

  • Can we rely on these “Proposed Regulations” being in effect for 2022?

  • When do we have to send out mandatory amendments to our IRA Customers?

  • What is the difference in beneficiary payouts calculations to a Type I vs. Type II trust?

You do not want to miss this timely, in-depth information for 2022. All participants also receive the coveted "Red Book" IRA manual from Sunwest Training Corp. Get more details and register here.

 

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Sept. 27 @ 1 p.m.

Free Webinar for S&P Capital IQ Pro Users: Exploring Branch and Market Share Analysis

With increasing competition for deposits and market volatility, banks are looking for ways to better analyze branch footprints and untapped markets. Join GBA partner S&P Global on Sept. 27 @ 1 p.m. for a free webinar that will assess trends in deposits and branch banking in the U.S. This webinar is for current S&P Capital IQ Pro clients; however, we want to remind folks that GBA members can receive discounts for both the Capital IQ Pro platform and SNL Banker dashboard offered by S&P Global.

 

The S&P Capital IQ Pro Summary of Deposit Data Offerings include:

  • Regional and National Deposit Market Share Data

  • Updated Branch Map

  • Branch Market Overlap Analysis Application

  • Pre-built Excel Templates for Branch Market Analysis

Click here to register for the Sept. 27 webinar. Please contact S&P Global’s HD Jacobs at HD.Jacobs@spglobal.com, or 434.951.7710 to learn more about their solutions.

 

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Order Now!

141 Positions Covered by Salary Survey

Our annual survey of Georgia Banking Compensation levels is available. The results can help your bank develop a comprehensive and competitive compensation package to address today’s tight labor market. This year's survey report represents: 

  • 141 positions reported

  • Over 4,300 Georgia incumbents reported

  • 58 Georgia institutions

  • Policies and Practices Report with data on base salary programs and incentive plans

The survey prices are $595 for participants and $1,275 for non-participants. please contact Rhonda Snyder at rhonda.snyder@pearlmeyer.com for details and to order a report.

 

Special to GBA: Find out how to get the most out of your compensation survey data.

 

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Compliance Alliance Question of the Week

 

Question: Do we have any TCPA issues making phone calls to current customers to sell them other bank products?

 

Answer: Generally, if you have an established business relationship with the customer, there would be no compliance issues with TCPA to call them and sell other bank products unless that customer is on the bank's internal do not call listor, as a best practice, is on the national do not call list. Reference: "(5) The term established business relationship for purposes of telephone solicitations means a prior or existing relationship formed by a voluntary two-way communication between a person or entity and a residential subscriber with or without an exchange of consideration, on the basis of the subscriber's purchase or transaction with the entity within the eighteen (18) months immediately preceding the date of the telephone call or on the basis of the subscriber's inquiry or application regarding products or services offered by the entity within the three months immediately preceding the date of the call, which relationship has not been previously terminated by either party.(i)

 

The subscriber's seller-specific do-not-call request, as set forth in paragraph (d)(3) of this section, terminates an established business relationship for purposes of telemarketing and telephone solicitation even if the subscriber continues to do business with the seller." 47 CFR §64.1200(f)(5)(i). Read more here.

 

Read more of the Compliance Alliance September Newsletter here.

 

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Fall Seminars

Super Seminars touch on Info Security and Lending

Register yourself of make sure key teammates participate in GBA’s fall 2022 schedule of seminars. Programs cover a range of retail, IT security and lending topics. See below:

 

 

 

Dasher Strickland Keusal Allen

 

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Webinars

Troubled Debt Restructuring, Wage and Hour Basis, Cyber Crimes, Frequent Flood Issues and More

Here’s a sampling of upcoming webinars. 

See the full slate of upcoming webinars here.

 

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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.

 

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:

 

Calhoun - Builtwell Bank

The bank’s Calhoun branch is hosting a “Tailgate-a-Palooza” collecting cans and monetary donations to sideline hunger in the local community.

 

Macon - Renasant Bank

The bank recently made a $50,000 donation to support for the new Otis Redding Center for the Arts, which will provide youth with the opportunity to grow through music.

Rome - River City Bank

The bank recently donated 1,000 pencils to Brighter Birthdays, a local community service organization that helps under-resourced children celebrate their birthdays by providing them with bags filled with toys and living essentials. Pictured are (L-R): Shane Walley (River City Bank Relationship Manager), Amanda Hale (Brighter Birthdays) and Jamie Tallent (River City Bank President & CEO).

Suwanee - Quantum National Bank

Bank team members recently spent the day at the Junior Achievement Discovery Center at Gwinnett teaching middle school students how to balance a budget and make good financial decisions.

Vidalia - Altamaha Bank and Trust

The bank made an overall donation of $20,000 to The Dream Center and Forge Recovery of Vidalia, The Hope House of Uvalda, and Outback Serenity Center of Hazlehurst in recognition of National Recovery Month. Read more here.

 

 

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GBA Newsmakers

 

Atlanta - Craft Bank

Bank President and CEO Ross Mynatt was recently featured on Capital Analytics Associate’s video/podcast series, Invest Insights. Watch the interview here.

 

Atlanta - Georgia Banking Company

The bank recently announced a partnership with Innovation Refunds to help businesses claim up to $26,000 per employee kept on payroll during COVID-19. Read more here.

 

Darien - Southeastern Bank

Robert Eidson has been appointed senior vice president and Chief Financial Officer. Eidson was also elected to serve as treasurer of the bank’s parent company, Southeastern Banking Corporation, effective Sept. 15. Read more here.

 

Fitzgerald - Colony Bank

Sara Adams has been promoted to financial reporting specialist, assistant vice president.

 

Rome - River City Bank

The bank recently announced the addition of Tushar Patel and Penny Evans-Plants to its board of directors effective Sept. 1. Both individuals were also appointed to serve on the board of the bank’s holding company, RCB Financial Corporation. Patel is a real estate developer and manager, developing C-Stores and quick service restaurants, which he also owns and manages. Evans-Plants serves as the Chief Information Officer for Berry College. Read more here. Bank team members also recently took part in a sporting clay event in Dawsonville supporting bank Relationship Manager Will Wade and his campaign for the Georgia State House of Representatives. Pictured (L-R) are: Jamie Tallent, president and CEO; Wade; and Shane Walley, relationship manager.

 

Atlanta - Federal Home Loan Bank of Atlanta

The bank recently announced it is making an additional $5 million in funding available in 2022 to its members through its AHP Homeownership Set-aside Program, in which eligible borrowers can apply for up to $10,000 to help them purchase or rehabilitate a home. Read more here.

 

 

Mynatt Eidson Adams Patel Evans-Plants 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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