GBA Joins National Effort Urging Treasury to Reevaluate Credit Union Tax Status
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The Georgia Bankers Association joined 51 other state bankers associations this week in signing a joint letter to the U.S. Treasury Department calling for a comprehensive federal study of credit unions’ longstanding tax-exempt status. The letter, sent July 29 to Assistant Secretary Kenneth Kies, makes the case that many of the largest credit unions have evolved well beyond their original mission of serving individuals of modest means, with some acquiring commercial banks, offering nationwide memberships, and sponsoring professional sports teams. In addition to publishing the study, the letter requests Treasury’s recommendations about whether Congress should introduce legislation that would require all credit unions to pay federal income tax and compel federal credit unions to pay unrelated business income tax (UBIT) like other nonprofits.
Take Action: GBA members can urge lawmakers to hold an oversight hearing on credit union.
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Georgia AG Chris Carr Co-Leads Bipartisan Call for Cannabis Banking Reform
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In a July 25 letter co-led by Georgia Attorney General Chris Carr, a bipartisan coalition of 32 state attorneys general called on Congress to pass the Secure and Fair Enforcement Regulation (SAFER) Banking Act, which would provide cannabis businesses access to deposit accounts, insurance and other financial services. The attorneys general noted in the letter that 39 states, three territories and the District of Columbia currently allow medical cannabis use, while more than two dozen regulate nonmedical use. The attorneys general contend that the lack of banking access creates public safety risks and hinders states’ ability to collect taxes and oversee revenue. Passage of the SAFER Act continues to be a GBA legislative priority. Read the letter here.
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2025 Georgia BankPAC Update
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The 2025 BankPAC campaign to raise funds for the GBA StatePAC and GBA FedPAC is going strong, and we hope that you will consider contributing! Contribution forms along with all BankPAC information may be accessed on the advocacy page of gabankers.com with instructions and options for making these contributions. As a reminder, state-chartered banks or national bank holding companies may contribute to the StatePAC, while eligible individuals may do so to the FedPAC. If you have questions, contact Elizabeth Chandler at 404.372.7893 or Bo Brannen at 404.731.9886.
Contributing to the GBA StatePAC recently is First National Community Bank, Chatsworth, Ryan Earnest, president and CEO. And, contributing recently to the GBA FedPAC are those eligible employees, officers and directors of the following banks:
- AB&T, Albany, Perry Revell, CEO
- Ameris Bank, Atlanta, Palmer Proctor, CEO
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Exchange Bank, Milledgeville, John Childs, president and CEO
- F&M Bank, Washington, Ed Pope, president and CEO
- First Bank of Pike, Molena, John Barker, president and CEO
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Planters & Citizens Bank, Camilla, Susan Moss, president and CEO
- Planters First Bank, Cordele, Eli Tinsley, president and CEO
- Southeastern Bank, Darien, Jay Torbert, president and CEO
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Synovus Bank, Columbus, Kevin Blair, chairman, president and CEO
- The Citizens Bank of Americus, Rick Whaley, president and CEO
- United Bank, Griffin, Jim Edwards, CEO.
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Bogus Checks Targeting Charitable Organizations
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Georgia Community Bank is warning financial institutions to be on the lookout for a scam involving fraudulent checks sent to charitable organizations.
Earlier this week, a local animal shelter CEO attempted to open a $95,000 CD with funds they believed were from an estate. The check appeared to come from an attorney in Calgary, Alberta. Upon verification, the attorney confirmed his firm’s information was being used on fake checks labeled as “Payment of Settlement Funds.”
All known instances so far have targeted nonprofits. Banks are encouraged to verify large, unexpected deposits and advise customers to use secure wire transfers when possible.
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Georgia Man Convicted in $3M Mail and Bank Fraud Scheme
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A Marietta man has been convicted for running a multi-million-dollar fraud that used mail and bank transactions to steal more than $3 million through an international romance scam.
Prosecutors said the defendant posed as a romantic partner online, convincing victims to send money via mail and bank deposits. He funneled funds through his company, KGA Autobrokers, LLC, moving money through multiple banks to hide its origins. In one instance, he deposited two checks totaling $300,000 from a single victim at different banks on the same day.
Victim losses exceeded $3 million, with money sent to foreign accounts in China and the UAE. The defendant was found guilty of mail fraud, conspiracy to commit mail and wire fraud, and conspiracy to commit money laundering. Sentencing is set for Nov. 5, 2025, with penalties of up to 20 years for each fraud charge. Read more.
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Registration Now Open for 2025 Credit Conference, Dec. 4-5 in Athens
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Registration is now open for GBA’s 2025 Credit Conference, happening Dec. 4-5 at the University of Georgia Center for Continuing Education & Hotel in Athens.
Planned by the GBA Credit Committee, this premier event for bank credit and lending professionals will deliver timely insights, expert guidance and valuable networking opportunities. Confirmed sessions include:
- Economic Update – Roger Tutterow, Henssler Financial Endowed Chair and Professor of Economics, Kennesaw State University
- Commercial Real Estate (CRE) – Cal Evans, Senior Director, Market Intelligence & Analytics, Synovus Bank
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Agriculture Update – Will Secor, Assistant Professor & Extension Livestock Economist, Ag & Applied Economics, UGA.
This conference is designed for chief credit officers, senior lenders, commercial lenders, credit analysts, loan officers, COOs, presidents/CEOs and business development officers. Don’t miss this opportunity to navigate credit challenges, share best practices and strengthen your lending strategies with peers from across Georgia.
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A huge thank you to our conference sponsors!
- Platinum Sponsor: Steve H. Powell & Company
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Silver Sponsors: Carr, Riggs & Ingram; CRS Data; Mauldin & Jenkins; Point To Point Environmental; and Wipfli.
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Don’t Miss the South Georgia Community Bank Symposium Oct. 8
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South Georgia bankers or anyone doing business in the region should attend the South Georgia Community Bank Symposium Oct. 8 at Valdosta State University’s Student Union. Hosted in partnership with VSU’s Harley Langdale Jr. College of Business Administration, this regional event is designed for CEOs, board members, management teams, lenders, HR and marketing professionals, and others with customer-facing roles.
Join fellow south Georgia bankers from 10 a.m. - 3 p.m. to hear from industry experts on key issues facing community banks and explore opportunities to connect with VSU students interested in banking careers. Lunch is included in the $175 registration fee.
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Sharpen Your Skills at the New Account Documentation & Compliance Bootcamp
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Proper account opening is critical to protecting your bank from regulatory and reputational risk. Join us Oct. 8-9 at Middle Georgia State University in Macon for GBA’s New Account Documentation & Compliance Bootcamp, led by Matthew Dickinson, president and CEO of JM Consultants.
With nearly 20 years of banking experience and a reputation for practical, state-law-customized training, Matthew will guide participants through essential documentation practices, complex account structures, FDIC coverage, and common compliance pitfalls. Each attendee will receive a 200+ page manual packed with checklists, examples, and answers to real-world account-opening challenges.
- Day 1: Consumer & Business Accounts
- Day 2: Trusts & Fiduciary Accounts
Whether you attend one or both days, you’ll return as a more confident and knowledgeable resource for your institution.
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Save the Date!
Georgia BankPAC Sporting Clays Tournament
Feb. 5, 2026
Old Hudson Plantation, Sparta
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| More Events and Training Opportunities Coming up
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Do’s and Don’ts on Checks, Bank Accounting Boot Camp, Cyber Security 101 and More
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Here’s a sampling of upcoming webinars.
Want to see the full webinar schedule?
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PARTNERS, PRODUCTS & ASSOCIATE MEMBERS
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Vendor Monitoring: Keeping Tabs on High-Risk Relationships, Aug. 18 at 2 p.m.
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When a critical vendor falters due to financial instability, cybersecurity breaches, or service disruptions, your bank bears the consequences. That’s why continuous vendor monitoring isn’t optional; it’s essential. Join GBA Partner NContracts for a practical session on how to build a vendor monitoring program that’s scalable, actionable, and aligned with today’s risk landscape.
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The session will help you:
- Determine which vendor risk domains matter most and why
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Use vendor risk intelligence to make smarter, faster decisions
- Spot early warning signs through real-world examples of emerging vendor risks
- Implement monitoring practices that balance automation, insight, and efficiency.
Please Take Part in This Quick Survey from Ncontracts
GBA and NContracts are partnered to better support your bank’s compliance efforts. Please take a moment to complete this brief survey: https://www.surveymonkey.com/r/9HGJSCD. Your input will help shape NContracts’ tools and resources tailored to Georgia banks’ compliance needs.
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GBA ASSOCIATE MEMBER SOPHOS
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Ransomware in 2025: Progress, Pressure, and Persistent Threats
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The State of Ransomware 2025, published recently by GBA Associate Member Sophos, draws on insights from 3,400 IT and cybersecurity leaders around the world. The report reveals that exploited vulnerabilities remain the top cause of attacks (32%), while gaps in staffing and expertise are close behind. Encouragingly, recovery times are improving—53% of organizations now restore operations within a week—and median ransom payments have dropped to around $1 million. Yet, the toll on IT teams remains high. For a deeper understanding of these evolving threats and practical defense strategies, read the full report: Sophos State of Ransomware 2025.
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GBA ASSOCIATE MEMBER KNAV
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Why Accurate Valuation Matters for Gifting Business Interests with Real Estate
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Bankers with clients holding significant real estate assets should be aware of the gift tax implications when customers transfer ownership interests, especially through gifts to family members. A recent case study provided by Associate Member KNAV highlights the importance of comprehensive business and real estate valuations in these scenarios. Accurately assessing fair market value ensures IRS compliance, supports proper documentation, and reduces the risk of tax penalties.
Key tax exclusions apply: the annual gift tax exclusion is $19,000 per recipient, and the lifetime exemption stands at $15 million. Valuations help determine if these limits are exceeded and if a Form 709 filing is necessary. Read the case study here.
With questions, contact Vivek Shah at vivek.shah@IGAPL.com.
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Compliance Alliance Question of the Week
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Question: We have a loan applicant who wants their parent to help “co-sign” the loan, but the parent won’t receive any loan proceeds. Should they be treated as a co-borrower or a co-signer, and is there any difference?
Answer: The distinction between a co-borrower and a co-signer isn’t explicitly defined by a single regulation - it’s typically determined by the terms of the loan agreement and the application of state-specific statutory law. With that said, there are some generally accepted characteristics and regulatory implications worth keeping in mind. Read more here.
Compliance Hub Demo Schedule:
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Bainbridge - First National Bank
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Laura Moseley has joined the bank’s Bainbridge team as a relationship specialist, and Nancy Lerma has joined the bank’s Bainbridge team as a relationship banker.
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Dallas - First National Community Bank
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Chris McIntosh has joined the bank as vice president, commercial lender at its Dallas branch.
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Greensboro/Cochran - BankSouth / State Bank of Cochran
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BankSouth has entered into an agreement with Central Georgia Banking Company to acquire State Bank of Cochran, which also operates as First Laurens Bank in Dexter and Dublin and Community Bank of Johnson County in Wrightsville. The transaction is expected to close in Q4 2025. Read more.
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Rincon - Queensborough National Bank & Trust Company
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Tim Hutchings has joined the bank as vice president and commercial banker serving the Coastal Region. He will be based in the Rincon office.
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Cave Spring - MarketNsight
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Our sympathies to the family, friends and colleagues of John Hunt Sr., chief analyst, principal and co-founder of MarketNsight, who passed away on July 27. John’s vision and passion greatly influenced the industry, and he was a frequent speaker at GBA conferences.
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| Bainbridge - First Port City Bank
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Dan Rogers has joined the lending team as vice president and SBA business development officer.
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Our sympathies to the family, friends and former colleagues of John Philip Hester Sr., who passed away July 24. A third-generation banker, Philip held leadership roles at Waycross Bank & Trust, First Community Bank of Dawsonville, Chestatee State Bank, Ameris Bank, Wells Fargo and SouthCrest Bank. Read more.
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Milledgeville - Century Bank and Trust
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The bank was voted Best Mortgage Company in the Union Recorder Readers' Choice Awards.
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Sandy Springs - Signature Bank of Georgia
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Kirsty Sirmon, controller and vice president, has been named the Q2 2025 Mover & Shaker award recipient. The award recognizes employees for leadership, dedication and contributions to improving the bank environment. Read more.
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Aiken - Security Federal Bank
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Bank team members volunteered at Aiken County’s Meet the Teacher events to promote the newly rebranded $uper $avings program. Representatives visited 19 public schools to help students develop money habits, earn prizes and learn financial skills, with plans to expand to private schools soon.
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Bainbridge - First National Bank
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The bank served as a Silver Sponsor for the 4-Man Scramble Golf Tournament hosted by The Oak House.
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Bainbridge - First Port City Bank
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The bank contributed backpacks, pencils and supplies for 500 students as part of the Bearcat Blitz initiative, helping local children prepare for the upcoming school year.
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Cochran - The Citizens Bank of Cochran / Community Bank of Dublin-Laurens County
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Bank team members welcomed teachers and staff back to Bleckley County Primary School. The bank also sponsored the Putting Contest during the 5th Annual Ladies Day of Golf hosted by the Dublin Chamber of Commerce.
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| The bank partnered with the Oconee Area Resource Council to bring the Dolly Parton Imagination Library to Oconee County, supporting early literacy and access to books for local children.
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Leesburg - First National Bank
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Bank representatives sponsored the New Teacher Reception for Lee County. Market President Julie Hanner and Relationship Specialist Shelby Langley welcomed 70 new educators to the community.
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Milledgeville - Century Bank and Trust
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The bank donated $25,000 to Atrium Health Navicent Baldwin through the Georgia HEART Hospital Program, supporting rural healthcare services in the region. Read more.
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Perry - Planters First Bank
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The bank hosted a Business After Hours event at its Perry location, connecting community members, local businesses and leaders.
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Perry - SunMark Community Bank
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The bank partnered with Perry Ace Hardware to host a fundraising event benefiting Children’s Miracle Network Hospitals and Atrium Health Levine Children’s Hospital, scheduled for Aug. 2.
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Sandy Springs - Signature Bank of Georgia
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The bank made a donation to East Forsyth High School’s softball program.
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| Bank team members packed and delivered 162 backpacks filled with school supplies to North Gwinnet CO-OP, serving families in Buford, Sugar Hill and Suwanee.
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Sylvester - South Georgia Banking Company
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The bank's Sylvester team participated in the Back-to-School Bash at T.C. Jeffords Park, joining local organizations to provide supplies and celebrate the start of the school year with families. Bank team members also welcomed educators at Tift County’s New Teacher Orientation.
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Read All About It: Send Us Your News
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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 Weiss.
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Recruit, Retain and Develop the Best Bankers with GBA's Job Bank
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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. Contact Katina Weiss, 404.420.2021, with questions or needs.
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© 2025 Georgia Bankers Association
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