| School Days in Athens
Nearly 200 banking pros are in Athens this week as students during the Georgia Banking School and GBA Compliance School on-campus sessions for the year. The week has been jam-packed with learning and relationship building. Here are some scenes from this week. We’ll highlight the program and recognize honor students next week.
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Farm Bills IntroducedIt was good to see committees of the U.S. House and Senate release versions of legislation this week to reauthorize the Farm Bill. Summaries of the two bills, which take quite different approaches, may be found at these links: House version; Senate version. Here at GBA, we’ve been pressing Congress to quickly resolve differences and pass the much-needed legislation. Since the passage of the 2018 Farm Bill, the agriculture industry has faced numerous challenges, and the farm safety net—particularly the federal commodity support programs—has not provided sufficient assistance to Georgia farmers. While our agriculture lenders have been able to assist most producers in securing an operating loan for the 2024 crop year, we have witnessed far too many farmers make the difficult decision to close their operations. We are concerned that this troubling trend will worsen without congressional action. GBA’s Agriculture Committee, chaired by AB&T’s president Matt Rushton, has been working with producers and grower organizations on the various provisions that need attention. During their conference coming up in two weeks, committee members will spend time developing recommendations on the most critical priorities to focus on. Also, next week, GBA’s advocacy team, led by Elizabeth Chandler, will be in Washington, D.C., meeting with members of the Georgia delegation to discuss the Farm Bill and other legislation, like the ACRE Act and SAFER Banking Act, that should be passed this year. Joining Elizabeth will be GBA’s incoming president and CEO, Tripp Cofield, and Senior Vice President for Member Services and Advocacy, Bo Brannen. With questions or to provide input into GBA’s positions on the farm bill or other federal issue, reach out to Elizabeth at 404.372.7893, echandler@gabankers.com.
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Rural Development and Lending Conference, May 16-17
Crop Insurance, Economic Development Panel, Wildlife and Climate on ProgramWe hope to see you at this year’s 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, Altamaha Bank & Trust Company, vice chair.
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Agenda Highlights: Economic development panel, fruit and vegetable update, crop insurance, and how climate and wildlife are affecting Georgia agribusinesses.
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May Primary and Judicial Voting Underway
Early voting is underway for Georgia’s upcoming primary on May 21, 2024. Held in conjunction with the primary is the non-partisan General Election for those seeking judicial offices.
Here are some stats reported by the Secretary of State's office through Wednesday, the first three days of early voting:
- Turnout 23% lower than 2022 primary in same period
- Total votes: 76,923 vs 110,000 in same period 2022
- Republican ballots: 42,223 (54.9%)
- Democrat ballots: 33,445 (43.5%)
- Non-partisan ballots: 1,255 (1.6%).
Check out a sample ballot here. The names of those seeking judicial offices will appear on all ballots, and those elections will be decided this month rather than in November when partisan races will be settled. The two statewide contested judicial races are the incumbent Supreme Court Justice Andrew Pinson, who is being challenged by former Rep. John Barrow, and an open Court of Appeals position being sought by Jeff Davis and Tabitha Ponder. Go vote!
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| Build-to-rent a Growing Trend A report recently released by RentCafe.com named Georgia the state with the third-most build-to-rent units completed last year. Arizona and Florida were the top two growth states, with South Carolina just behind Georgia.
What’s the concept? Build-to-rent appeals to those looking for a sense of community but without the responsibilities of homeownership. Developers are targeting much of their marketing to millennials and seniors. Contributing to the growth has been:
- Rising home prices and mortgage rates
- More square footage and yard space than available with apartment living
- Affordability.
Most of the build-to-rent growth has been in the Atlanta MSA, with units also showing up in the report being built in Savannah, Augusta, and Athens. Anecdotally, we’ve heard from members who are financing projects that would not have been included in the study as it only included professionally managed build-to-rent communities containing at least 50 single-family rental units. The chart below shows the number of new units in 2023, and the full report may be found here.
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Strengthening Financial Cybersecurity: Navigating the Upgrades in RSAT 2.0
The updated version of Ransomware Self-Assessment Tool Version 2.0 (RSAT 2.0) is designed to reflect the latest developments and regulatory insights, incorporating feedback from previous ransomware victims to enhance industry-wide resilience. GBA Associate Member SafeSystems has an article detailing how key enhancements in RSAT 2.0 include a rigorous examination of cloud-based service provider relationships, an emphasis on multifactor authentication implementations, strategic employee cyber awareness training, and robust incident response testing. The RSAT 2.0 emerges as an important resource for institutions seeking to strengthen their defenses against cyber threats. Read more here.
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| Key Dates for Compensation Survey
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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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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| 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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GBA Members Get 15% Off! Empower Your Team to Protect Your Bank with Certified Vendor Management Professional Training
Want to become smarter at vendor management and save money doing it? The Nstitute Certified Vendor Management Professional Training (CVMP) is a self-paced and comprehensive training program produced by GBA partner Ncontracts’ team of third-party vendor management experts. The program covers all the key aspects of vendor management – including the latest regulatory guidance – to help you and your teams level up their skills and protect their institution. GBA is pleased to offer a 15%-member discount (Code GETGBA15) on Ncontracts’ Nstitute Certified Vendor Management Professional (CVMP) program. Register today!
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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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Member Banks and Associate Members Save up to 35%GBA Endorses Shred-it for Document, Hard Drive & Media Destruction and Community Shred Days GBA is pleased to endorse Shred-it for document and data destruction services. As a leader in information security, Shred-it offers an integrated suite of services designed to protect bank’s sensitive information. Exclusive discounts for GBA Members and Associate Members include:
- 30% discount on document destruction
- 30% discount on hard-drive and media destruction
- 35% discount for Community Shred Days
- Please fill out the contact form to inquire about Shred-it services.
IMPORTANT NOTE: If you are already a Shred-it customer and would like to access the GBA’s discounts, you may request to join this program after your current contract has passed 50% of its term. Simply contact sitretgpochange@stericycle.com with your account information and ask to join the GBA program. Contact GBA’s Bo Brannen with questions at bbrannen@gabankers.com.
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| Women in Banking Conference Aug. 15-16The Power of Personal Branding Session Set
One of the reasons attendees tell us they love coming to our annual Women in Banking Conference is the opportunity to learn from experts about issues that matter and affect them in their professional and personal worlds. We’re excited that distinguished marketing and branding figure Tammy Brown will join us this year to present “Unleashing Your Brand Potential: The Power of Personal Branding.” Brown, renowned for her insightful and transformative approach to telling brand stories, is Director of Accounts for Mighty 8th Media, a marketing firm in Atlanta. In her session, Brown aims to inspire and empower attendees by sharing her journey and insights into personal branding and the magic of storytelling in business. Click here to register and click here for reservations info. Thanks to these associate members who are sponsoring: Gold Sponsor: McNair, McLemore, Middlebrooks & Co., LLC; Silver Sponsors: Carr, Riggs & Ingram, CPAs and Advisors; CRS Data; Elliott Davis; FHLBank Atlanta; Mauldin & Jenkins, LLC; Troutman Pepper; and Wipfli. Sponsorships are still available – click here for details and to reserve! Contact GBA’s Kathy Friestad with questions.
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GBA Partner ABA Insurance SafeTalk: The Importance of Continuity of Operations Planning
How quickly a bank can recover after an emergency, such as a tornado, fire, or flood, often depends on pre-emergency planning. Management needs to plan to improve the bank's path to full recovery. Here are some practical steps to ensure your bank can recover safely and quickly.
- Carefully assess how the bank functions internally and externally to determine which staff, materials, procedures, and equipment are necessary to keep the business operating.
- Identify suppliers, shippers, resources, and other businesses the bank interacts with daily.
- Plan what course of action to take if the building is not accessible.
- This type of planning is often called a "Continuity of Operations" plan and includes all facets of business.
- Plan for payroll continuity.
- Decide who should participate in preparing an emergency plan.
- Define crisis management procedures and individual responsibilities in advance.
- Coordinate with others.
- Review emergency plans annually.
- When new employees are hired or bank functions are changed, then plans are updated and employees are informed.
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Webinars - Great for Fundamentals TrainingWire Transfers, Coaching Effectiveness for Supervisors and Managers, Consumer Lending Program and More
Want to see the full webinar schedule? Check out our webinar calendar for a full list of upcoming webinars.
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Compliance Alliance Question of The Week
Question: When a customer disputes a debit card transaction, when does the 60-day window start? From the statement date or the date of the disputed transaction?
Answer: Under Reg E, the 60-day window begins on the day the bank sends the statement containing the disputed transaction. For example, if the first disputed transaction occurred in early June and the bank sent the periodic statement showing this transaction on June 15, the customer would have 60 days from June 15 to report this disputed transaction. See the regulation.
Live Demo Signups for Compliance Alliance:
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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:
Milledgeville – Exchange Bank
Employees recently established the ExchangeBank C.A.R.E.s Fund, donating a portion of their paychecks to support local non-profits. Employees plan to donate more than $10,000 to six different organizations in 2024 through their generosity. They recently presented a check to the Jeanna Baugh Montgomery Cancer Support Foundation.
Perry – SunMark Community Bank
Team members recently attended career day at Morningside Elementary School for its Girls with Pride Group. They spoke about different careers in banking and presented a financial literacy class.
Savannah – Great Oaks Bank
The recently held its annual "Teach Children to Save" campaign from April 22-26, engaging in local outreach to schools near its six offices across Georgia. Volunteers from the bank visited 12 schools, impacting 1,048 elementary children. Read more here.
Tifton – South Georgia Banking Company
Team members from multiple locations helped spread the joy of learning on National Teach Children to Save Day last week.
Waycross – The First
Team members in Waycross donated over 30 volunteer hours with Rebuilding Together to renovate a home for a community member in need. Renovations, sponsored by The First, included installing new doors and a water heater, enclosing a porch and updating kitchen cabinetry.
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South Georgia Banking Company
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GBA Newsmakers
Check out these Georgia bankers making news this week:
Atlanta – SouthState Bank
SouthState Bank announced the retirement of Doug Williams, president of the Atlanta Banking Group and head of Corporate Banking, effective Dec. 31. BJ Green, state president for the Atlanta Banking Group, will assume the role of Atlanta group president. Chris Kamienski, director of Consumer and Small Business Banking, will become group president of Commercial Banking and Consumer Banking. Read more here.
Augusta – Queensborough National Bank & Trust Company
Adam Harris has been promoted to Augusta region president, senior lending officer. Read more here.
Columbus – First Peoples Bank
The bank opened a new full-service branch location in Old Town, Columbus, with a grand opening and ribbon cutting celebration April 24.
Millen - Durden Banking Company
Congratulations to Customer Service Representative Claudette Sasser who has been in banking 50 years. The bank hosted a reception in her honor to celebrate the milestone and her retirement at month-end. On behalf of the membership, GBA President Joe Brannen presented Sasser a certificate recognizing her service.
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First Peoples Bank Columbus Branch
| |  | L-R, Wade Johnson, Claudette Sasser, Joe Brannen and G.W. Johnson
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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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