|
Georgia Ag Interests, National Trades Press for Farm BillSix major Georgia agriculture advocacy groups signed on to a letter with their peers nationally and the American Bankers Association this week to implore the House and Senate to take action on the Farm Bill before the end of the year. The Georgia Agribusiness Council, Georgia Cotton Commission, Georgia Farm Bureau, Georgia Milk Producers, Georgia Peanut Commission and the Georgia/Florida Soybean Association were among more than 300 groups signing on to the letter. Read the letter here.
| |
|
Mail-Theft Check Fraud Study Shows Large Per-Check AverageFraudsters have been bold in attempting to steal large amounts of money with stolen checks. That’s one of the findings from a study the Financial Crimes Enforcement Network did of reported suspicious mail theft-related check fraud during 2023 in the six months after it issued a national alert about the issue. A recent report about the study revealed:
- $688 million in suspicious activity reported from 15,417 incidents across 841 financial institutions.
- Georgia institutions reported the fourth most incidents nationwide during the study.
- 44% of stolen checks were altered and deposited, while 26% were used to create counterfeit checks, and 20% were fraudulently signed and deposited.
- The average attempted fraud per check was $45,000, demonstrating the significant financial risk involved.
- Banks filed 88% of all mail theft-related check fraud reports, with populous urban areas seeing the highest numbers.
| |
|
Related: Free Webinar from GBA Partner AbrigoStrategies For Check Fraud and Ransomware Prevention - Sept. 17 at 2 p.m.An effective risk assessment process identifies potential threats and outlines strategies to mitigate their impact. Join the team at GBA Partner Abrigo on Sept. 17 at 2 p.m. for a discussion with representatives from FDIC about evaluating check fraud and ransomware threats and what banks can do to protect banks and their customers from becoming victims of these crimes. Sign up here. Don’t forget that the GBA exclusively endorses Abrigo’s Fraud Detection Software and members receive discounts on the implementation of new Abrigo solutions. Visit www.abrigo.com to learn more.
| |
|
2024-2025 sessions starting soon!Get in On Senior Lending Officer Roundtable Spots AvailableA new program year is about to start and seats are available in all four groups of GBA's Senior Lending Officer Roundtables. Mike Allen of Three B’s Advisors serves as facilitator. With 45+ years of banking/credit expertise and experience, Allen is among the most respected lending experts in Georgia.
| |
|
Share Your Economic Insights in 5 MinutesThe CSBS Community Bank Sentiment Index survey is open until Sept. 27. We encourage members to participate. Your participation (just 5 minutes!) provides invaluable local perspectives on the national economic outlook. The results are included in the Federal Reserve Economic Data, the online database maintained by the Federal Reserve Bank of St. Louis, known informally as FRED. For more details and to take the survey, click here.
| |
|
Small Business Owner Optimism Down, Uncertainty UpWith more than 60% of small business lending done by our members, we’re always on the lookout for information to help us better understand what’s on the minds of small business owners. The NFIB’s Small Business Economic Trends report (also known as the Optimism Index) was released this week, and it showed small business owner optimism ticking down slightly in August and remaining below the 50-year average for the 32nd consecutive month. With a contentious election cycle in full swing, it was also no surprise to see the Uncertainty Index reach its highest level since October 2020. Despite ongoing challenges with inflation and labor shortages, small businesses reported friendly credit markets. That tracks well with what we’re hearing from members, who say they remain active in competing to serve the credit needs of qualified small businesses. To read the full report, click here.
| |
|
GBA Member ProfileFrom Student to Standout: Matthew Ashe's Journey Through Georgia Banking SchoolMatthew Ashe, vice president for SBA Lending at Synovus Bank and the 2024 Georgia Banking School Graduate of Distinction, shared with us why he strongly recommends attending the program. He credits the school's challenging assignments and the bank simulation exercise for broadening his understanding of the banking industry and improving his strategic decision-making skills. Through the program, Ashe learned how banks operate and how to better position his bank for success. “My best analogy is to describe myself and my daily role within the bank as being a piece on a chess board and that attending banking school taught me how to play chess,” he said. Read more in his GBA Member Profile.
| |
|
Enrollment is Now Open for Georgia Banking School April 27 - May 2The Georgia Banking School has developed generations of Georgia bank leaders who shape the industry in our state. The three-year shcool offers everything you want and expect from an investment in banker education, specifically preparing the next generation of bank leaders, building the pool of management-level talent in your bank, and connecting students to the most knowledgeable industry experts and a community of fellow bankers. The Georgia Banking School Board, led by Darron Burnette of Synovus Bank, has been hard at work reviewing the curriculum and planning next year’s session. Details and enrollment access here.
| |
|
Compliance School registration now open!New Alumni Track Added, Year 1 and Year 2 Sessions also AvailableRegistration for the 2025 GBA Compliance School on-campus session, April 27 - May 2 in Athens, is open! The big news is our Compliance School Board has added a new feature. Here’s the lineup:
- Year 1 – Basics
- Year 2 – Advanced
- New – Compliance Alumni Continued Education track (Compliance ACE) to refresh skills from any Year 1 and/or Year 2 classes, earn CE/CRCM credits and work toward a GBA Compliance Master’s certification
The school is designed to give new and experienced compliance pros the tools necessary to build, monitor and maintain an effective compliance program. With questions, contact Aimee Corcoran, 404.420.2035.
| |
|
Customized to Georgia law!Opening New Accounts Seminar - Oct. 1, MGSU, MaconJoin Matthew Dickinson of JM Consultants for our Opening New Accounts Seminar. Dickenson will focus on documentation and compliance during this full-day program during which attendees will learn essential new account opening procedures, best practices and compliance requirements. Dickenson will answer complex questions asked by customers and staff while focusing on vital information for every new account type. Get all the details and register here.
| |
|
Attention South Georgia bankers!Sign up for South Georgia Community Bank Symposium - Oct. 10Join us for our annual symposium Thursday, Oct. 10, in partnership with the Harley Langdale Jr. College of Business Administration at Valdosta State University. Hear from experts on the economy, as well as credit quality, industry updates and small business resources.
Featured Speakers:
- Dr. Elvan Aktas, professor of finance, Valdosta State University
- Stewart Thigpen, CEO, Steve H. Powell & Co.
- Melissa Sneed, deputy commissioner for supervision, Georgia Department of Banking and Finance
- Tripp Cofield, president and CEO, Georgia Bankers Association
- Walt Moore, district director, UGA Small Business Development Center.
Who Should Attend: CEOs, board members, management teams, lenders, HR and marketing teams, and anyone interested in customer-facing and community responsibilities.
| |
|
Take a Swing at Our Fall Georgia BankPAC Golf ClassicAll GBA members are invited to play in our annual fall Georgia BankPAC Golf Classic, which supports the GBA StatePAC.* This year’s tournament is Oct. 16 at the River Forest Club in Forsyth. Sign up to play with fellow bankers, friends, or invite your legislators to join you for the day at this fun fall event. Registration options are:
- Individual Golfer ($190)
- Two-Person Team ($305)
- BEST DEAL! Two-Person Team with Hole Sponsorship - a $605 value for $550!
- Hole Sponsorship Only (for the non-golfers wanting to participate and get high visibility for their company) – options between $300 - $750.
- Don’t play golf? No problem! Your bank or company can support this great cause by sponsoring a golf hole for just $300.
A huge thanks to these event sponsors: Banc Card of America; Bank of Dawson; Bank of Madison; Bank of Monticello; Burke Stelling Group, LLC; Cash Transactions, LLC; Coleman Talley LLP; CSRA Business Lending; CT Solutions; Fenimore Kay Harrison LLP; FHLBank Atlanta; First Chatham Bank; First National Bank; Georgia First Bank; Morris Bank; Pinnacle Bank; Point to Point Environmental; Steve H. Powell & Co.; SunMark Community Bank; Synovus Bank; The Citizens Bank of Georgia; and The Piedmont Bank.
* The GBA StatePAC contributes only to candidates running for state-level offices such as the Georgia General Assembly, the Governor’s office and the Lieutenant Governor’s office. Contributions can be made from an individual, from bank funds if you are a state-chartered bank or from a national bank holding company if the contribution is made from funds other than those resulting from the operations of the national bank.
| |
|
GBA Partner NContractsA Guide to 1071 Voluntary ReportingOne of the aspects of the CFPB’s complex rule implementing section 1071 of the Dodd Frank Act is the option for voluntary reporting. What does this option look like for covered financial institutions? Why might a lender want to participate? Should my financial institution voluntarily report for 1071? The short answer is, if possible, yes. No matter the outcome of the current legal challenges, it is highly probable that 1071 will endure in some capacity. When the compliance deadline arrives, you’ll want to be as prepared as possible. Read on to find out more from GBA Partner NContracts. Visit www.ncontracts.com to learn more about how they can help your bank comply with 1071 reporting.
| |
|
Continuing Education Credits Available!Compliance Conference, Oct. 23-25, The Westin, Jekyll IslandAmerican Bankers Association (ABA) Professional Certifications has approved the GBA Compliance Conference for: 14 CRCM, 7.25 CERP, 2.75 CAFP credits. Sharpen your skills, elevate your bank’s compliance management program, connect with peers, and earn your continuing education credits! Get all the details and register here. The GBA Compliance Committee, chaired by Lindsay Holloway, The Four County Bank, and Renee McCullar, vice chair, BankSouth, planned the conference. With questions, contact Aimee Corcoran, 404.420.2035.
| |
|
Associate Member HUB | Taylor AdvisorsGet Your Balance Sheet Ready for Economic Uncertainty Ahead - Capital in FocusBanks will want to prepare today for heightened capital and regulatory risk tomorrow. Risks and opportunities are unique to each bank based on their respective loan portfolio, capital, liquidity, interest rate risk and investment portfolio. An effective ALCO from a whole balance sheet perspective can help ensure that you are ready for the next exam, for the next phase of the credit and interest rate cycle, and to implement tailored strategies to set your institution up for long-term success. Read more from GBA Associate Member HUB | Taylor Advisors. Visit www.tayloradvisor.com to learn more.
| |
|
Financial Risk Management Conference – Nov 7-8Regulatory Exam Peer Panel in the SpotlightFinance team members with exam responsibilities will want to come to the Financial Risk Management Conference. We’ve got an all-star panel of bankers who will focus on exam prep best practices, lessons learned and how the election results might affect the regulatory agenda. Panelist include bankers regulated by OCC, FDIC and state. Planned by the GBA’s Asset/Liability Management Committee, here are more highlights of what’s in store:
- Bank performance trends by S&P Global’s Nathan Stovall
- Immediate election analysis by political strategist John Ashford
- Performance Enhancement Ideas by Chris Nichols, SouthState Bank
- Banker Panels: Fraud mitigation, liquidity and loan growth.
| |
|
Associate Member Engage fi Planning Ahead: The Critical Role of Strategic Planning
Strategic planning is essential for guiding decisions, driving performance and supporting innovation. Banks that get on board with the strategic planning process will thrive. GBA Associate Member Engage fi provides helpful answers to the important questions of what, why and when of strategic planning in this guest article. Visit www.engagefi.com to learn more.
| |
|
Credit Conference - Dec. 5-6Navigating the Waters of CRE: Calmer Seas Ahead?Commercial Real Estate Values have been volatile and varied since the Fed began its hiking cycle. Now that rate trajectories have reversed, how will values respond? Join Cal Evans and Brooke Blackwell, Synovus, as they explore the underlying factors driving each sector and detail the outlook for 2025 and beyond.
The 2024 GBA Credit Conference is Dec. 5-6 at The Westin Buckhead Atlanta. Our conference covers the full spectrum of market intelligence, credit trends, underwriting, risk management and business development topics essential for growing, thriving banks. Get all the details and register here.
| |
|
Fundamentals Course Oct. 29Understanding Bank Performance Course will Help Bankers at All LevelsWe are excited to announce that we’re kicking off 2024 with another round of the virtual Understanding Bank Performance Program in partnership with the Washington Bankers Association.
See why bankers of all experience levels are raving about this program, helping them understand their impact on a bank’s performance. Starting on Oct. 29, with two sessions per week for a month, students will learn to assess and analyze a bank’s financial performance using real data and become familiar with balance sheets and income statements while also learning how to apply key performance metrics to data in those documents. The program will finish with students undergoing a pro forma capstone evaluating Silicon Valley Bank.
This is a great way to help newer employees learn how the banking industry works or to help experienced individuals further their careers.
| |
|
Registration now open! New formatIRA Academy - Feb. 4-6 at MGSU in MaconFor the first time ever, we are extending our two-day IRA seminar into a newly designed IRA Academy. Registrants will now have the option to attend the days that will benefit them most. Chose from the following, or any/all combinations:
- Day 1: Basics
- Day 2: Advanced and Complex IRA transactions
- Day 3: Operations, administration and reporting of IRAs
All three days will include an interactive workshop giving attendees the hands-on training needed to service IRA requests. The IRA Academy will be Feb. 4-6, 2025, in Macon at Middle Georgia State University. Facilitated by Loni Porta, Director of Education, Convergent Retirement Plan Solutions, anyone even remotely involved in IRAs will benefit from this training.
| |
|
Compliance Alliance – Question of The Week
Question: What is the scope of the new Reconsideration of Value (ROV) Final Rule? When must banks comply with its updates?
Answer: While the Interagency Guidance is effective upon publishing, it is important to note that the language of the guidance indicates that "the final guidance does not have the force and effect of law or regulation and does not impose any new requirements on supervised institutions,” reflected here:
"The agencies reiterate that the final guidance does not have the force and effect of law or regulation and does not impose any new requirements on supervised institutions.
The examples of policies and procedures in the final guidance are illustrative and not requirements. The final guidance clarifies that these examples may not be applicable or material to each institution or their ROV processes. Risk-based ROV-related policies, procedures, control systems, and complaint processes may vary according to the size and complexity of the financial institution. Smaller financial institutions that choose to implement the guidance may have policies and procedures that differ from those at larger and midsize institutions. Under this guidance, institutions have flexibility in their approach to their internal ROV processes and deciding the relevance of the considerations discussed in the final guidance." Interagency Guidance on Reconsiderations of Value of Residential Real Estate Valuations
It is also important to note, however, that for certain loans under programs such as HUD, Freddie Mac and Fannie Mae, lenders are required to have policies and procedures in place addressing requests for ROVs.
Live Demo Signups for Compliance Alliance:
| |
|
Webinars - Great for Fundamentals TrainingAvoiding Check Fraud Liability, Digital Banking Issues, Establishing a Culture of Compliance 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.
| |
| Registration coming soon!
| |
|
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.
| |
|
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:
| |
|  |
Griffin - Georgia Banking Company
Universal Banker Gerry Kemp volunteered with New Mercy Baptist Church in Griffin giving out food boxes to local senior citizens.
| |  | Richmond Hill - Great Oaks Bank
Over the past week, the bank celebrated first responders throughout the communities it serves.
| |
| | |
|
GBA Newsmakers
Check out these Georgia bankers making news this week:
Atlanta - Ameris Bank
The bank was named as a 2024 Global Top 100 Inspiring Workplace. Read more here.
Atlanta - Cadence Bank
Lead Independent Director Joe Evans received the Lifetime Achievement Award in the Atlanta Business Chronicle’s third-annual Deals of the Year Awards. Read more here.
Atlanta - Regions Bank
Bill Linginfelter will retire at year end as the Atlanta market executive. Mary Beth Coke will succeed him as Atlanta chief and commercial banking regional executive for Georgia and the Carolinas. Read more here.
Blairsville - United Community Bank
Our sympathies to the family, friends and former colleagues of retired Executive Vice President and Chief Financial Officer Rex Schuette, who died this week. More here.
Columbus - Synovus Bank
Chad Parramore has been promoted to executive director and head of product commercialization for the bank’s treasury and payment solutions team. Read more here. The bank also opened a new branch at Midland Commons in Columbus.
Macon - American Pride Bank
The board of directors of the bank and American Bancorp, Inc. announced the appointment of Andrew Flowers as president. Read more here.
Soperton - Georgia First Bank
Brian McDaniel has joined the bank team as assistant vice president and consumer and small business lender for the Vidalia market. Brandon Tapley has joined the bank as assistant vice president, branch manager and lender.
Sylvester - South Georgia Banking Company
The bank opened its new banking center in Sylvester at 603 N. Main Street on Aug. 19 and held a week-long celebration Aug. 26-30. Read more here.
Waynesboro - Queensborough National Bank & Trust Company
Jennifer Posey has been promoted to branch manager in Waynesboro. Read more here.
Atlanta/Albany - Mauldin & Jenkins
Lew Henry and Brent Ullrich have been appointed partners in the firm’s Atlanta office. Aubrie Trotter has been appointed to partner in the firm’s Albany office. Read more here.
Brentwood, TN - Ncontracts
GBA Strategic Partner Ncontracts, a leading provider of integrated compliance, risk, and vendor management solutions to the financial services industry, recently announced that it has acquired Venminder, a unified platform for managing third-party risk. Read more here.
Atlanta - Troutman Pepper
Troutman Pepper and Locke Lord recently agreed to merge effective Jan. 1, 2025. The new law firm, which will be named Troutman Pepper Locke, will have more than 1,600 attorneys in 33 offices in the United States and two in Europe, with a presence in all 10 of the largest U.S. legal markets. Read more here.
| |
| 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.
| |
|
Calendar of Training and Events by subject/topic:
| |
|
|
