March 25 - CBA Today eNewsletter - Community Bankers Association of Georgia

Good morning! During times like these, communication is critical. I would like to take a few minutes to highlight how CBA has been working to assist our members during this time:

Public communication: We have been in contact with local and national media communicating the fact that the community banking industry is well capitalized and all deposits are insured by the FDIC. Additionally, we have formed a coalition with other industry organizations to communicate similar and encourage dialogue with their local community bank. Finally, we have been in contact with officials of both state and federal government to express the status of the current situation and share our concerns moving forward.
Resources for CBA members: CBA hosted a 2 hour call last week for almost 100 community bankers. We discussed COVID-19 in great detail, engaged with Commissioner Hagler and Deputy Commissioner Snead and had an open forum for bankers to discuss best practices. We will do more events if needed. Additionally, we have created a repository of information and available programming on our web site.
Live Streaming: CBA accelerated its plans for Professional Development Live Streaming and is now offering many upcoming programs via this method. Please contact us for assistance and the tutorial web link.
Preferred Service Provider assistance: CBA is fortunate to have the support of many Preferred Service Providers that are willing to offer reduced fees and/or enhanced services to member banks during this time. We will be publishing a list containing details shortly.

Like you, we are in the service business and are ready, willing and able to support your banks and communities any way possible.

CBA Mourns the Loss of John Trammell
CBA extends our deepest sympathies to the family and friends of John T. Trammell, former President/CEO of Community Bank of Pickens County, Jasper, who recently passed away. John was an original founder of the bank, and a member of CBA's 2018-2019 Board of Directors. Please keep John’s family in your thoughts and prayers during this difficult time. Read more.

FHLBank Atlanta: Provisions for Economic Stimulus & Collateral Relief Program
Several provisions are being made for the Federal Home Loan Bank of Atlanta (the Bank) to aid in economic stimulus during this time: an amendment to the Small Business Administration Act will broaden the availability of SBA-guaranteed small business loans; amendments to the Federal Home Loan Bank Act will expand access to Federal Home Loan Bank advances and allow the Bank to offer Letters of Credit (LOCs) to support community liquidity; and an amendment to Section 149 of the Internal Revenue Code of 1986 will allow the Bank to issue LOCs on tax-exempt bonds. To learn more about these amendments, and to access Fact Sheets on these provisions, click here.

In addition, the Bank has announced a temporary collateral relief program covering several aspects of loan eligibility and reporting. Relief provisions are effective for loan collateral as of March 1, 2020 and apply to all loan portfolios with the exception of loans reported in the Residential Available for Sale program. The Bank will communicate the cessation date of the collateral relief program in a separate notice, after considering all facts and circumstances. Read more.

Loudermilk Signs Letter Requesting CTR Relief from FinCEN
U.S. Representative Barry Loudermilk and other members have congress have recently sent a letter to the Financial Crimes Enforcement Network (FinCEN) requesting relief for banks' CTR submission deadlines during the pandemic. CBA was asked to provide feedback on the draft of the letter and CBA expressed the concerns of the small community banks throughout Georgia during this time. Read the letter.

CBA Utilizes S.T.R.E.A.M. Tool for Upcoming Events
CBA’ is continuing to utilize our new S.T.R.E.A.M. (Stream Training Remotely = Enhanced Access for Members) virtual online tool to provide live streaming options for scheduled CBA Professional Development events. Click on the links below to register and learn more about each of these STREAM programs. See a full list of CBA's rescheduled programs.

Social Media Bootcamp: Wednesday, April 1 - 8:30 am
Georgia Deposit Documentation: Thursday, April 2 - 8:30 am
TRID: Advanced: Tuesday, March 31 - 8:30 am
Consumer & Commercial Loan Documentation Bootcamp: Thursday, April 16 - 9:00 am

Congratulations to Johnny Smith who is retiring as President of Newton Federal Bank, Covington, after 27 years of service.

Greg Proffitt has been named President of Newton Federal Bank, Covington.

Think CBA First for Your Professional Development Needs!
Be sure to think of CBA first when it comes to your training and Professional Development needs. Here are some upcoming CBA events:

Marketing ICS® and CDARS to Georgia Public Funds
FREE Webinar for CBA Member Banks
TODAY: Wednesday, March 25th, 2:30 pm | Thursday, April 16th

CBA passed generational legislation last year in securing passage of SB157. This new law enables your bank to use ICS®, the Insured Cash Sweep service®, to offer government finance officers in Georgia access to FDIC insurance beyond $250,000 on funds placed into demand deposit accounts, money market deposit accounts, or both. Currently, almost 70 banks have either signed up with Promontory or are in the queue to do so. As a result, millions of new dollars are available for lending and community banks no longer have to endure the time an expense associated with collateralization.

Free for CBA member banks, join Promontory Interfinancial Network for this webinar detailing ICS and CDARS® (which offers large-dollar FDIC insurance eligibility for CDs and which government finance officers in Georgia may currently use to place deposits) – the benefits, how they work, and ways to market the services to government finance officers with Promontory’s ready-to-use materials. Learn more and register.

Webinar: Why Now is the Time to Focus on Loan Portfolio Credit Risk
TODAY: Wednesday, March 25th, 2:00 pm | Thursday March 26th, 11:00 am

Empirical data indicates a correlation between a delay in addressing emerging credit risk and increased losses experienced by the lender. Staying on top of credit risk is a MUST in today's environment. In the recent Interagency Guidance on Credit Risk Review Systems, regulators underscored the importance of promptly identifying credit risk so that timely action can be taken. This is the concept behind IntelliCredit, the next-generation credit risk management solution from QwickRate, a Silver-Level Preferred Service Provider. Register for 3/25. Register for 3/26.

Webinar: Fireside Chat - COVID-19's Impact to Your Business
Friday, March 27th, 2020 | 10:00 AM -11:00 AM EST

Register now to join CBIZ, a Gold-Level Preferred Service Provider, in their upcoming webinar to learn more about recent legislative changes impacting employment and best practices for dealing with changes regarding COVID-19. On this webinar is Paula Fulghum, Owner and Chief Innovator of InnovateHR. Paula, the #HRGal, brings a wealth of HR knowledge to this webinar and will be discussing many of the organizational changes that businesses will see as a result of COVID-19. Learn more and register.

Webinar: Navigating Employment Issues and the Coronavirus
TODAY: Wednesday, March 25, 2020 | 10:30 - 11:30 am

Mauldin & Jenkins is offering a webinar this morning to discuss pertinent and timely topics such as: actions to take when an employee tests positive or exhibits signs of the coronavirus (COVID-19), the Families First Coronavirus Response Act, tax implications, and Georgia Department of Labor guidance for filing unemployment claims. Learn more and register.

White Paper: Coronavirus and CECL - Novel Threats and New Accounting
The difficulty of containing the spread of the novel coronavirus (and the resulting disease, COVID-19) is putting pressure not only on human health, but also on delicate global social and economic networks. Direct and indirect effects will continue to have a toll on human life, and this discussion does not set that aside lightly – we leave it to dedicated and trained public health professionals. Read the full report. Guest article from CBA Associate Member Abrigo.

ICBA Securities provides a full suite of investment products and services for community banks through its exclusive broker, Vining Sparks. Included are traditional fixed-income securities, interest rate products, whole loans, M&A and valuation services, and investment advisory services. Vining Sparks also has state-of-the-art asset/liability and bond accounting products. As the only broker/dealer owned by the community banking industry, ICBA Securities returns 100 percent of its earnings to the industry in the form of royalties and dividends.

To learn more, contact Jim Reber at 901-762-5880 or visit www.icbasecurities.com.

Here are some of the latest national news stories relevant to community banking and the financial services industry:

MARCH 25, 2020