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Tracking Helene’s ImpactWe’ve been in close contact with members since the middle of last week to offer support, resources and assistance with storm preparation and disaster recovery efforts in the wake of Hurricane Helene. In speaking with bankers in the storm’s path across southeast and east-central Georgia, we’ve learned there was significant business disruption and widespread property damage from Hurricane Helene. Some banks were able to quickly implement business continuity plans to restore banking operations, but extended power outages continue to be a challenge for many in certain areas of the state. We’ll continue working with members and elected officials in the coming weeks to ensure much-needed state and federal disaster recovery assistance is approved and quickly delivered to those in need. Please contact Tripp Cofield, or any GBA team member if you need assistance with locating resources or with outreach to local, state and federal officials. Check out the Community Connections section below to see some of the extraordinary efforts members are taking to help their customers and communities recover. Please share your stories about employee and community relief efforts so we can amplify them. Email David Oliver and Katina Weiss with details and photos.
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Georgia Delegation Urges Swift Congressional Action for Ag Sector Relief Following Hurricane HeleneThis week, Georgia's entire congressional delegation, joined by members from other surrounding states, delivered a letter to U.S. Senate and U.S. House leaders requesting immediate federal appropriations to fund agricultural disaster relief needs in the Southeast. The letter notes the catastrophic damage and crop losses left in the aftermath of Hurricane Helene add to the significant economic strain the agricultural industry is already feeling after multiple growing seasons without sufficient federal support. Citing agriculture's critical role in Southeastern states' economies and the nation's food supply, the letter calls for Congress to act quickly to ensure disaster relief resources are available to help farmers recover and prevent long-term economic damage.
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SBA Disaster Loan ResourcesThe SBA this week opened its online portal for homeowners, renters, nonprofits and businesses of all sizes affected by Hurricane Helene to apply for disaster loans. There are three types of loans available:
- Home Disaster Loans
- Business Physical Disaster Loans
- Economic Injury Disaster Loans.
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Georgia Peanut Bank Week Oct. 21-25Peanut Commission Shipping Red Bag Peanuts This WeekSeveral GBA members will be recognizing the peanut industry and farmers later this month during the annual Georgia Peanut Bank Week, co-sponsored by GBA and the Georgia Peanut Commission. We have heard that orders of promotional material, including the popular red bag peanuts will start shipping this week. The official poster, recipe card, peanut fact sheet, press release template, and children's activity sheets can be found on the Peanut Bank Week page of GPC’s website here. Please reach out to Maddie Frost at bankweek@gapeanuts.com or 229.326.0141 if you have any questions.
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Trio of Conferences Deliver Impactful Executive IntelMember bank presidents, CEOs, bank attorneys and bank accountants met this week for their annual conferences. Jay Torbert, Southeastern Bank, hosted the President and CEO Conference as the chair of the Community Bankers Committee. The general sessions kicked off Monday with a visit from Federal Reserve Board Gov. Michelle Bowman. In addition to delivering remarks on the U.S. economy and monetary policy, she outlined her reasons for being the lone dissenting vote on the Fed's recent 50 basis point rate cut. Read her remarks here. Gov. Bowman also did a Q&A session with GBA’s Elizabeth Chandler covering the current regulatory environment, the outlook for community banking, the status of the new CRA rules, and more. Kennesaw State Economist Roger Tutterow followed with an economic update, outlining the possible effects of the Fed’s rate cut and prospects for a potential soft landing. The day's final speaker was FDIC Atlanta Regional Director Tim Rich, who covered a variety of the agency’s priorities.
Also on Monday, Bank Accountant Section Chair Eve Rogers and her colleague Chris York gave a thorough overview of key accounting hot buttons during their session. The Bank Counsel Section’s Monday agenda was led by section Chair Jonathan Hightower of Fenimore Kay Harrison LLP. He facilitated a discussion with Bo Fears from the Department of Banking and Finance and Alan Faircloth of the Federal Reserve Bank of Atlanta about potential challenges in satisfying the Lawyer’s Creed and the Aspirational Statement on Professionalism when dealing with bank regulatory agencies. Bank Counsel Section members also had a session on how artificial intelligence is being used in the banking and legal professions. Brad Rustin of Nelson, Mullins, Riley and Scarborough, and Alison Grounds of Troutman Pepper were the presenters.
The Tuesday general session featured Nathan Stovall of S&P Global Market Intelligence providing an overview of community bank performance and an industry outlook in a lower-rate environment. That was followed by a Q&A session between Jonathan Hightower and Kurt Knutson, a former banker, that focused on building a coveted community bank. The conference concluded with a CEO panel facilitated by Jason Clayton of Performance Trust Capital Partners. Panelists were Philip Williams, The Claxton Bank; Jim Edwards, United Bank; and Tim Perry, The Citizens Bank of Georgia. They covered a range of topics including liquidity, loan growth, fraud protection and human capital.
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A huge thank you to our event sponsors: American Bankers Association; Carr Riggs Ingram, LLC; Crowe; EBS; Elliott Davis; Fenimore Kay Harrison LLP; FHLBank Atlanta; First National Bankers Bank (FNBB); James Bates Brannan Groover; Mauldin & Jenkins; McNair, McLemore, Middlebrooks & Company; Nichols, Cauley & Associates; ServisFirst Bank; Symphona; Troutman Pepper; and Warren Averett.
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GBA Board Holds Quarterly Meeting; Bowman Sits inThe GBA Board, led by Chairman Brad Barber, First National Bank, Bainbridge, met Sept. 29. In addition to the quarterly review of association finances, the Board got a status update on member renewals and approved 13 new Associate Member applications. Senior members of the GBA team provided an overview of activities and plans for the organization's strategic areas of focus – government relations and public advocacy, education, and products and services – and received feedback from the Board about member needs within each area. We were also honored that Federal Reserve Gov. Michelle Bowman visited with the Board upon conclusion of the business session. She used the opportunity to hear directly from member bankers about economic conditions in their local markets and solicit feedback on the recent rate cut as well as regulatory challenges. We appreciate her time and appreciation for our members and their commitment to serving their communities.
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Attention attorneys!Status of Important Cases - October 2024
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Opening New Accounts Seminar Offers Critical Guidance At this week’s Opening New Accounts Seminar, Matthew Dickinson of JM Consultants provided a deep dive into the documentation and compliance requirements for opening all kinds of accounts. Held at Middle Georgia State University in Macon on Oct. 1, the seminar was attended by new account representatives, CSRs, auditors and compliance officers from around the state. Participants learned about critical topics like TIN compliance, trust accounts, and the latest FDIC rules for trusts, and they received a 200+ page digital manual, which serves as a go-to resource for navigating the complexities of new account procedures. Keep an eye on the GBA Calendar of Events for the next session of this popular seminar.
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Welcome GBA's Newest Associate MembersGBA Associate Membership is offered to individuals and organizations that want to do more business with banks as clients. These members also provide invaluable support to GBA's activities and programs through attendance, sponsorships, exhibits and shared expertise. Be sure to get to know these new Associate Members and thank them for supporting GBA. You can get information about any of GBA's Associate Members by using the Associate Member search function on our website. For more information, contact Bo Brannen at bbrannen@gabankers.com or 404.420.2014.
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2024 Georgia BankPAC UpdateWith a looming election at the state and federal level, now is the time to help your industry have a seat at the table with friends of banking and future friends of banking. Please consider contributing to the 2024 BankPAC campaign if you have not done so yet. The contribution forms include all payment options for the StatePAC and the FedPAC. 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.
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GBA Retirement Services Annual 401(k) Training SeminarThe dates for the GBA Retirement Services Annual 401(k) Training Seminar are Nov. 19 in Duluth and Nov. 20 in Macon. HR administrators of banks or associate members in the Trust may attend either session at no cost to you! We will cover plan administration, website demos, testing review, compliance updates, overview of investments, financial wellness tools, and participant education. Is your plan not a part of our Master Trust? We invite you to also come and learn more about our services. Give us a call to find out how our program is helping thousands of Georgia Bankers be fully prepared for retirement. We promise you won’t be disappointed. Have questions? Contact Mandy Richards at 678.549.4167 for more information. Please click here to register for Duluth or Macon.
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2024-2025 sessions starting soon!Senior Lending Officer Roundtables - Last Call!A 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.
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CE 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, would like to thank these GBA Associate Members who are showing their support through sponsorship – Platinum: Steve H. Powell & Company and Centrant Community Capital and Silver: Mauldin & Jenkins, Carr, Riggs & Ingram, Compliance Alliance, Ncontracts, and Troutman Pepper. With questions, contact Aimee Corcoran, 404.420.2035.
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GBA Compliance Conference Sponsor ArticleUnderstanding Housing Tax Credits - Strengthening Communities, Benefiting BanksBy David Bennett, President, Centrant Community Capital
The expression “do well by doing good,” generally attributed to Benjamin Franklin, celebrates the notion that financial success and social benevolence are not mutually exclusive. If your bank could participate in a proven program that provides Community Reinvestment Act (CRA) credit and an attractive yield, with little overhead expense and a remarkable performance record, would you be interested?
In conjunction with the Federal Low-Income Housing Tax Credit (LIHTC) program, banks of all sizes can finance the creation and preservation of quality affordable multifamily housing, receive CRA investment and lending test credit, and enjoy the benefits of attractive yields through interest income, investment returns and federal and state income tax credits.
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GBA Partner Bank Marketing CenterFree Webinar: Engagement vs. Followers - What's Driving Visibility in Today's Social Media LandscapeAs a banker, building relationships is critical. Are you using social media to its full relationship-building potential? In today's landscape, it's not just about who’s following your bank—it’s also about who’s engaging with your content. Join the team from GBA Partner Bank Marketing Center for a free webinar on Oct. 30 at 2 p.m. to learn more about building online engagement. Highlight topics will include:
- Who Should Be Visible for Your Bank
- Defining Your Target Market & Their Pain Points
- The Power of "Faceless" Video & AI Avatars
- Tools & Resources to Boost Your Efforts
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Marketing Peer Group meeting coming up!Dig in to Data Analytics and Peer Networking Nov. 6GBA’s Marketing Committee is excited to host our next peer group meeting Nov. 6. The meeting will begin with a deep dive on data analytics with Hunter Young, president of the HIFI Agency. Young was a hit at last year’s Marketing Conference, and the committee wanted to bring him back for a more thorough how-to-workshop for members. The afternoon will be dedicated to peer exchange with a roundtable discussion tackling all the latest marketing trends. Get all the detail and register here.
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Financial Risk Management Conference - Nov 7-8Outlook for US Community Banks as the Fed Pivots
Net interest margins have fallen for some banks, and the pace of the rebound could depend on how quickly those banks can lower their deposit costs as the Federal Reserve eases monetary policy. While the Fed’s pivot could help reduce credit quality concerns, interest rates may need to move notably lower to alleviate Wall Street’s discomfort, particularly regarding commercial real estate exposure. During this discussion, Nathan Stovall, S&P Global Market Intelligence, will review his proprietary projections for commercial bank performance and discuss how lower rates will impact performance and future strategies, including balance sheet positioning, capital raising and M&A activity. This is one of many outstanding sessions planned for the conference. Get all the details and register here.
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Our peer groups are growing!Internal Audit Peer Group Meeting - Nov. 19 in MaconOur inaugural internal audit peer group meeting was a great success and you wanted more, so we are extending our next meeting to a full-day program. Register now for the next peer group meeting at Georgia Farm Bureau’s headquarters in Macon on Nov. 19. Event highlights include:
- Effectively Communicating Audit Results - Learn best practices for communicating audit findings to stakeholders and overcoming resistance.
- The Modernization of Internal Audit - Discover how to embrace data analytics, agile auditing, and fraud detection to modernize your audit processes.
- Roundtable Discussion - Participate in an interactive roundtable where industry challenges and trends will be discussed with peers and experts.
Get all the details and register here. With questions, contact Aimee Corcoran, 404.420.2035.
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New #PracticeSafeChecks and #BanksNeverAskThat Campaign Now LiveOn Tuesday, the new #PracticeSafeChecks campaign and the fifth annual #BanksNeverAskThat campaign went live. More than 1,400 banks across the nation have signed up for this initiative timed to coincide with National Cybersecurity Awareness Month. Be sure to explore PracticeSafeChecks.com to see all the resources available to help educate your customers about check fraud prevention. BanksNeverAskThat.com has also been updated with new quiz questions and videos to engage your audience. Whether you amplify ABA’s social media posts or create your own campaign, every action counts. Share your bank’s participation stories and photos by emailing BanksNeverAskThat@aba.com.
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Credit Conference - Dec. 5-6Fan-Favorite Dr. Roger Tutterow to Give Economic UpdateDr. Roger Tutterow, Henssler Financial Endowed Chair and Professor of Economics, Kennesaw State University, a conference favorite, will give his annual economic update at the 2024 GBA Credit Conference on 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.
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Empower Your 2025 Financial Strategy with Tools from GBA Partner S&P GlobalIt’s never too early to start planning for 2025. As strategies take shape in the coming months, executive, financial planning and analysis, marketing and commercial lending teams will need differentiated data to stay ahead of the competition. Find out how GBA Partner S&P Global’s tools can help your bank plan for 2025. Schedule a demo to learn more about the following tools:
- SNL Financial Institutions Regulatory Data - gives you access to bank, credit union, and financial service companies' financial statement filings, allowing you to comprehensively assess your financial standing relative to your peers at the most granular level.
- SNL U.S. Bank Branch Data - gives you access to all US branch information for banks and credit unions captured daily from company websites, filings, merger news and government sources.
- U.S. Demographic Data from Claritas - provides Financial Product Demand data and Household Segmentation to effectively analyze current and prospective markets.
- Deposit Market Share - enables peer comparison of Market Share and Deposit Growth in any specific City, County, State or MSA using data from the FDIC's Annual Summary of Deposits. Furthermore, it contains an ergonomic Growth-Share matrix for a quick market analysis.
- Mapping - The mapping tool allows you to overlay your branch data with U.S. Market Demographics.
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Compliance Alliance – Question of The Week
Question: We have an applicant who has requested a refinance on their primary residence, but the purpose of the additional loan proceeds will be to pay off a different lien on a different dwelling that they also own. For HMDA purposes, should I report this as a Refinance since both liens are in the borrower’s name even if it’s not the same property?
Answer: Yes, that is correct since the HMDA definition of a refinancing does require that the borrower be the same but does not necessarily require that that the dwelling securing the loans be the same:
Live Demo Signups for Compliance Alliance:
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Webinars - Great for Fundamentals TrainingEstablishing a Culture of Compliance, HMDA and Its Data Points, Commercial Lending Program 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:
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Blairsville - Pinnacle Bank
The bank’s Blairsville team is collecting goods for those affected by Hurricane Helene.
| |  | Bonaire - SunMark Community Bank
Bonaire Branch Manager Chelle Tigner recently taught a financial literacy class at the Lindsey Student Support Center.
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Dalton - Builtwell Bank
Bank team members in Dalton provided Teen Maze volunteers with grilled burgers as a show of appreciation. This interactive “game of life” is organized by various city and county entities to give high school sophomores the opportunity to see the consequences of real-life choices, such as drinking and driving.
| |  | Dublin - Morris Bank
The City of Dublin and Laurens County have created a disaster relief fund at Morris Bank. The bank has committed to match up to $10,000 donated to this account to be used in the community as disaster relief.
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Greensboro - BankSouth
Bank team members led a “Money Smart for Young People” class at the local Boys and Girls Club.
| |  | Hawkinsville - Planters First Bank
The bank’s Hawkinsville team donated supplies of food, water and other items to those impacted by Hurricane Helene in Washington and Lincolnton.
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Milledgeville - Century Bank and Trust
The bank donated snacks to first responders and linemen to show appreciation for their efforts in the aftermath of Hurricane Helene.
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GBA Newsmakers
Check out these Georgia bankers making news this week:
Bainbridge - First National Bank
The bank announced Dr. Roger Mills is its new chairman of the board of directors.
Cordele - Planters First Bank
The bank hosted a retirement celebration for Tracy NeSmith and her 33 years of service.
Cornelia - Traditions Bank, a division of Rabun County Bank
Chazz Hopper has been promoted to junior lender of the Traditions Bank office in Cornelia. Read more here.
Doraville - Truist
Head of Fair & Responsible Banking Analytics Anqi Zou was named to Georgia Trend’s 40 Under 40 list for 2024.
Douglas - Pineland Bank
The bank hosted a ribbon cutting for its new Douglas building.
Perry - SunMark Community Bank
Jon Snellgrove has been promoted to the role of community banker in the bank’s Perry branch.
Atlanta - Nelson Mullins
Firm Partner George Ray was named to Georgia Trend’s 40 Under 40 list for 2024.
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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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