| Bill Signing Season
The Governor has 40 calendar days from the end of each legislative session to decide whether to sign, veto, or let bills that passed go into effect without his signature. GBA’s priority bill in the recently completed session was HB 876 by Rep. Bruce Williamson (R-Monroe). The bill was the annual update to the language within Title 7 of the Official Code of Georgia related to all the entities regulated by the Georgia Department of Banking and Finance. Of interest to bankers are the provisions related to bank formation, filings with the Secretary of State, the definition of subsidiaries, and updates to the Merchant Acquirer Limited Purpose Bank charter. The Senate sponsor was Sen. John Kennedy (R-Macon). GBA’s Elizabeth Chandler and Joe Brannen joined Rep. Williamson, Sen. Kennedy, Commissioner Kevin Hagler, Senior Deputy Commissioner Bo Fears, and other supporters for a signing ceremony this week in Gov. Brian Kemp’s office. The bill passed the House and Senate unanimously. Our thanks to GBA’s Bank Counsel Section Board of Directors for their help each year in vetting the legislation. The Board is currently chaired by Colony Bank’s General Counsel, Lee Bagwell.
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| GBA Advocacy in ActionMaking The Case for Outside Look at Regulatory Rulemakings Related to 2023 Bank Failures GBA this week joined other banking trade associations in sending a letter to House Financial Services and Senate Banking leaders expressing concerns about regulators' post-failure actions and rulemakings in response to the collapse of Silicon Valley Bank and Signature Bank. The letter highlights that the recent push for regulatory changes, such as Basel III endgame, long-term debt requirements, FDIC governance proposal, and changes to debit card regulation, would not have prevented the bank failures and may not foster a diverse U.S. banking system that serves communities and businesses of all sizes and geographies. We’ve joined a chorus of legislators and even some regulators urging an independent, third-party review of these regulatory proposals. “We believe this regulatory tsunami is not a rational response appropriate to current circumstances and warrants scrutiny,” the letter said. Read the full letter here.
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Great Oaks Bank was recognized for its work in the classroom by the ABA in a nationwide daily e-newsltter this week.
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| GBA Members Hit the Classroom for Teach Children to Save Day
GBA member bankers were out in force Thursday to participate in the ABA Foundation’s Teach Children to Save Day. The annual campaign is a centerpiece of the banking industry’s longstanding commitment to youth financial education. Teaching young kids the importance of saving sets the foundation for a secure financial future. From piggy banks to savings accounts and more, our members worked to empower the next generation to make smart financial choices. Nationwide, more than 758 banks of all sizes have held Teach Children to Save events throughout 2023 and 2024, reaching more than 890,000 students. The lessons, led by over 23,500 banker volunteers, are a key component to an industry-wide commitment to reach five million Americans with financial education lessons over three years. Take a look at the list of participating GBA members.
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Alarming Elder Fraud Trends Reported
Elder fraud awareness was just a key topic covered at the GBA Bank Security Conference. Now, FinCEN has a new report out mapping elder financial exploitation (EFE) patterns and trends found in BSA data. It is alarming.
- Eye-Popping: Between June 2022 and June 2023, FinCEN received 155,415 EFE-related BSA reports involving over $27 billion in suspicious activity.
- Two Key Categories: The two main categories of EFE were elder scams (unknown perpetrator) and elder theft (perpetrator known to the victim).
- All in the Family: In cases of elder theft, adult children were often reported as perpetrators, accounting for nearly 40% of such cases.
- How they do it: Perpetrators used unsophisticated methods like account takeover for scams and direct transfers or withdrawals for theft, often avoiding direct contact with financial institution employees.
There’s plenty of good intel in the report helpful to you and your teams as you remain on alert to help your older customers. Access all the details here.
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| Complete GBA's Banking Compensation Survey Before May 24 We want to remind members this week of a few important dates to note about the GBA Banking Compensation Survey. Data collection is now open, and we hope we can count on your bank to participate this year. Our survey provides best-in-class compensation information, offering a combination of accuracy and affordability. Data is provided for more than 280 jobs and positions, and the in-depth policies and practices portion of the report includes information on salary increases, merit increases, structure adjustments, outsourcing, turnover and recruiting.
Important Upcoming Deadlines and info:
- Survey Submission Due Date: May 24
- Survey Results Published: Week of Aug. 12
- The report is $595 for participants, and $1,475 for non-participants
If you have not received your participation email, please contact Rhonda Snyder at rhonda.snyder@pearlmeyer.com. She will follow up with you to make sure you have access to the survey materials.
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2024 Rural Development and Lending Conference, May 16-17
Crops, Climate, Wildlife and More on ProgramRegister now for the GBA 2024 Rural Development and Lending Conference, May 16-17 at the King & Prince on St. Simons and planned by GBA’s Agriculture Committee, Matt Rushton, AB&T, chair, and Jake Cleghorn, Atlamaha Bank & Trust Company, vice chair.
- Agenda Highlights: Sessions about crops, economic development and how climate and wildlife are affecting Georgia agribusinesses.
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| GBA Endorses Banc Card of America for Merchant Services
GBA and GBA Services Inc., are pleased to announce the endorsement of Banc Card of America for Merchant Services and Credit Card Processing. Established in 1997, Banc Card of America has consistently prioritized local “face-to-face” support with a relationship-centric approach in supporting both their bank partners and bank customers. They are supported by six regional reps in Georgia, covering every corner of the state. "We are honored to be recognized as the endorsed provider for Merchant Services by the GBA," said Jim Staples, Georgia Market Leader for Banc Card of America. "Our partnership with the association underscores our dedication to delivering top-tier payment solutions while maintaining a strong focus on personal engagement. We have built a team here in the state to serve our bank partners and have representatives throughout, who provide local support them and their customers.” To schedule a meeting, contact Jim Staples at (770) 314-3505 or jstaples@banccard.com.
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| Hot Topic Webinar May 30New Overtime Exemption Limitations Overview
Regulatory changes announced by the U.S. Department of Labor on April 23 take effect July 1. The changes represent a substantial increase from the current requirement salary threshold, with an even bigger bump on Jan. 1, 2025. Changes also introduce automatic salary updates, adding to compliance challenges for banks. It is crucial to understand and prepare for these new regulations to ensure compliance. Our partners at OnCourse Learning have Steve Greene all set to do a deep-dive webinar covering all you need to know. The Webinar is May 30.
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| Spots filling fast!Information Security Officer Seminar, Middle Georgia State University, Macon Registration for our Information Security Officer seminar is now open! Join IT security experts Emily Strickland and Paige Hembree, Safe Systems on June 5, 2024, in Macon at MGSU. Strickland and Hembree will take a deep dive into the exam expectations and provide the tools and skills information security officers need to succeed in this critical role.
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| Registration now open! BSA Peer Group Meeting, Virtual Session, June 6
Registration is open for our next BSA Peer Group Meeting. Join GBA's BSA Summit lead facilitator, Kristen Stogniew, from the comfort of your office.
Registrants will be able to submit industry hot topics during the registration process to discuss during the meeting.
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Registration now open! Inaugural Internal Audit Peer Group Meeting, Macon, June 18 Our popular peer groups are growing! Registration is now open for our first ever Internal Audit Peer Group meeting on June 18 at Idle Hour Golf & Country Club in Macon. Darren Shuster and Mike Thomas with Crowe LLP will facilitate the meeting covering industry hot topics.
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| Leadership Conference Session Spotlight Craft a Disciplined Approach for Next Rate Cycle Over the past few years, community banks have navigated through a tumultuous landscape marked by a global pandemic, an extended period of low interest rates that has now flipped to a higher rate environment, and unpredictable inflationary pressures. At the upcoming GBA Leadership Conference, Rachel Woods, managing director of Institutional Strategies and Analytics at BOK Financial, will provide insights into the current market environment, the Fed's outlook and key balance sheet trends for Georgia banks, emphasizing the importance of a disciplined approach to managing the balance sheet and investment portfolio amidst uncertain economic conditions. Don’t miss this session, plus others, at the Leadership Conference, July 8-10 at Ponte Vedra Inn & Club. Click here for more program and registration information. Contact GBA’s Kathy Friestad with questions.
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New marketing webinar!
Blending Marketing and Technology for New Levels of Success, May 14Get ready for an exciting webinar tailored for marketing professionals, executives, and operations audiences. Trent Fleming, CEO, Trent Fleming Consulting, will delve deep into the relationship between marketing and operations and provide you with solid ideas that you can put to work at your bank. You'll learn:
- Smart growth concepts
- Enhancing your online presence
- Leveraging data to improve messaging and the customer experience.
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| The New GBA Knowledge Hub is Live – Submit Your Content Today!
With GBA’s new Knowledge Hub (hub.gabankers.com), you can easily browse thought leadership content and other resources from GBA Strategic Partners, Associate Members and others serving the banking industry. Gain access to a curated online library of timely and downloadable content on a wide array of topics. The GBA Knowledge Hub provides instant access to:
- White papers
- How-to guides
- Industry analysis
- eBooks
- Case studies and more
We’ve partnered with Lead Marvels to help us manage this new resource. Please contact any member of the Lead Marvels team listed below with questions. They are happy to help.
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| GBA Partner StrategyCorps Free Webinar April 30 @ 2 p.m. - Reinvigorate Your “Zombie” Checking Accounts In the current banking environment primacy, organic growth, and product differentiation are keys to success for both retail and business accounts. Consumers continue to prove that they love to buy and pay for services on a subscription basis (think Amazon Prime, Netflix, Costco, and Spotify). Nearly every major industry dealing directly with consumers has adopted this pricing model, except the banking industry. Join Dave DiFazio from GBA partner StrategyCorps on April 30, at 2 p.m., for an inside look at the newest version of its customizable mobile rewards solutions BaZing and BaZingBiz to learn how they can bring subscription revenue to your bank’s checking programs.
Three primary takeaways from this exclusive livestream event:
- Learn how the new-and-improved BaZing and BaZingBiz fit better than ever into modern retail checking product and top-performing lineup strategies.
- Discover what features re-engage with non-primary, unengaged customers or members and protect primary ones.
- Experience everything BaZing and BaZingBiz bring, including never-before-seen features and services as well examples of its subscription-related fee income performance.
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| Compliance Alliance Question of The WeekQuestion: We are updating our fee schedule to increase certain fees for deposit account holders, and we know Reg DD requires notice of this. However, must we send a standalone notice or combine notification with another mailing?
Answer: The bank would be permitted to provide notice of this change by including a statement on the periodic statement for any affected accountholder under Regulation DD or as a part of another mailing. Note that if the institution provides notice through revised account disclosures, the changed term must be highlighted somehow. See the regulation.
Live Demo Signups for Compliance Alliance:
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| Discounts Available for GBA Members
Achieve Dynamic Commercial Loan Prospecting with GBA Partner S&P Global
You can’t seize the right opportunities without the right information, and maximum pipeline growth potential requires deep insight into your markets. The Commercial Prospecting Solution from GBA Partner S&P Global helps you efficiently identify lending opportunities with extensive intelligence on commercial real estate (CRE) and commercial and industrial (C&I) loans. With detailed insight into the number and size of opportunities available, you’ll be better equipped to determine resource needs, set sales targets, and manage accountability. Analyze your commercial lending market share against your peers to see how you stack up. To learn more, contact S&P’s Ryan Chakalos at Ryan.Chakalos@spglobal.com.
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Webinars - Great for Fundamentals Training
New Acccount Opening, Commercial Lending, Coaching, Consumer Lending and MoreHere’s a sampling of upcoming webinars.
Want to see the full webinar schedule? Check out our webinar calendar for a full list of upcoming webinars.
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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.
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. Here's our latest installment:
Swainsboro – Citizens Bank of Swainsboro
The bank recently contributed $200,000 to its local hospital, Emanuel Medical Center, through the Georgia HEART program.
Trenton – Bank of Dade
The bank was a sponsor for the 2024 Dade First-Family Connection Blue Ribbon Glow Run.
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Citizens Bank of Swainsboro
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GBA Newsmakers
Check out these Georgia bankers making news this week:
Athens – Classic City Bank
Congratulations to bank board member Tim Keadle, CPA, for being named the 2024 Graduate Professor of the Year by the MAcc students of the J.M. Tull School of Accounting within the University of Georgia Terry College of Business. Since 2014, Keadle has been a UGA Executive in Residence teaching Accounting in Practice, Ethics, Advanced Auditing and the Internship Classes in the MACC Program. Keadle is a former Associate Member representative to the GBA Board of Directors and was the organizing chair of the GBA Bank Accountant Section.
Monticello – Bank of Monticello
Congratulations to Steve Jordan and Don Kelly, who were recognized for serving the industry for 50 years. Jordan was GBA chairman from 2008 to 2009, and he and Kelly retired from the Bank of Monticello and still serve on the Monticello Bancshares, Inc. board, with Kelly serving as chair.
Rome – River City Bank
Angela Moore has joined the bank as BSA Lead Analyst.
Watkinsville – Oconee State Bank
Pam Lewallen has joined the bank as Vice President, Controller. Read more here.
Austin, TX – Compliance Alliance
Victoria Stephen has been named Executive Vice President and General Counsel.
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| 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 David Oliver and Katina Prokos.
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Calendar of Training and Events by subject/topic:
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