Community bank net income rose 4.4 percent in the fourth quarter from a year ago, the FDIC reported in its latest Quarterly Banking Profile. Community banks reported quarterly net income of $6.4 billion, with more than half of all community banks reporting growth. Net interest income increased by 2.1 percent year-over-year because of strong annual loan growth, which rose 5.5 percent. The community bank noncurrent loan rate fell to the lowest point since the fourth quarter of 2006.
“Community banks are prolific small business and agribusiness lenders both in Georgia and across the country. The results are indicative of both the strength of community banks and small businesses” stated John McNair, President & CEO of CBA of Georgia. "The results for Georgia’s community banks are amongst the best in the entire southeast region. Compared to large financial services companies and credit unions, community banks are unique in our financial services industry. Not only do most offer all the modern-day banking technology demanded by customers, they also keep deposits in their communities and pay all local, state and federal taxes.”
Overall, the banking industry reported a 6.9 percent fourth-quarter decline in net income from a year ago, largely due to lower net interest income and higher expenses. The banking industry's annual net income declined by 1.5 percent to $233.1 billion. The Deposit Insurance Fund balance rose $1.4 billion from the previous quarter to $110.3 billion, and the reserve ratio was unchanged at 1.41 percent. Read the banking profile.
“Community banks are prolific small business and agribusiness lenders both in Georgia and across the country. The results are indicative of both the strength of community banks and small businesses” stated John McNair, President & CEO of CBA of Georgia. "The results for Georgia’s community banks are amongst the best in the entire southeast region. Compared to large financial services companies and credit unions, community banks are unique in our financial services industry. Not only do most offer all the modern-day banking technology demanded by customers, they also keep deposits in their communities and pay all local, state and federal taxes.”
Overall, the banking industry reported a 6.9 percent fourth-quarter decline in net income from a year ago, largely due to lower net interest income and higher expenses. The banking industry's annual net income declined by 1.5 percent to $233.1 billion. The Deposit Insurance Fund balance rose $1.4 billion from the previous quarter to $110.3 billion, and the reserve ratio was unchanged at 1.41 percent. Read the banking profile.
John McNair Selected to Serve in Executive Mentoring Program
John McNair, President & CEO, Community Bankers Association of Georgia, has been invited to serve as a mentor in the Lerner Executive Mentoring Program at the University of Delaware.
The program matches Lerner students with executives whose professional backgrounds are complementary to the students’ career objectives. Mentorships have resulted in an increase in student confidence in entering the workforce, expansion of networks and overall professional growth. Mentors have 10 or more years of progressive career experience and passion to help our students succeed. The program is part of the Alfred Lerner College of Business & Economics.
Mentors will meet with University of Delaware Lerner Business & Economics students on a regular basis through the student mentee’s graduation. John graduated from The University of Delaware with a B.A. in Economics. He also holds a Master’s degree in Human Resources Management from Wilmington (DE) University.
John McNair, President & CEO, Community Bankers Association of Georgia, has been invited to serve as a mentor in the Lerner Executive Mentoring Program at the University of Delaware.
The program matches Lerner students with executives whose professional backgrounds are complementary to the students’ career objectives. Mentorships have resulted in an increase in student confidence in entering the workforce, expansion of networks and overall professional growth. Mentors have 10 or more years of progressive career experience and passion to help our students succeed. The program is part of the Alfred Lerner College of Business & Economics.
Mentors will meet with University of Delaware Lerner Business & Economics students on a regular basis through the student mentee’s graduation. John graduated from The University of Delaware with a B.A. in Economics. He also holds a Master’s degree in Human Resources Management from Wilmington (DE) University.
Georgia’s community bankers do great things in their communities every day. Here is the latest on community outreach and news from CBA Members:
- Sherry Kinard, Director of the Government Guaranteed Lending Division at Georgia Primary Bank, Atlanta, recently visited the White House with a select group of distinguished entrepreneurs and innovators from around the country. Sherry attended a summit on supplier diversity and access to capital, as well as the annual National African American History Month Reception held in the East Wing of the White House.
- Debra Weil, EVP of Community Banking Company of Fitzgerald, and Vice Chairman of CBA's Board of Directors, recently attended the Parker Finance Connection at Georgia Southern University to discuss careers in banking with college students.
- Georgia Community Bank’s Lee County Branch and Dawson Branch recently served meals at First United Methodist Church of Albany’s SEWN (Sunday Evening With our Neighbors), which provides a meal for the needy and homeless in downtown Albany.
- Cadence Bank, Atlanta, in partnering with the Buckhead Coalition to provide no-cost office space to local nonprofits at the bank's former Buckhead-area branch. Read the article.
- Paula Jasper from Greater Community Bank, Rome, was recently honored at the Black History Month Presentation held at the Commission Chambers of City Hall in Rome. She was presented with the Mayor's Proclamation by Commissioner Mark Cochran. In addition, Terri Ainsworth and Rhonda Wallace from the bank recently attended the Rome Board of Realtors luncheon and met Georgia Attorney General Chris Carr.
- United Community Bank, Clayton, and Heritage Bank, McDonough, recently donated to Clayton State University’s Give4Dreams fundraising drive.
- Jay Staines, Athens Market President of United Community Bank, recently retired on February 29, 2020 after 40 years of banking in the Athens area.
- Community Bank of Georgia, Baxley, is celebrating National Peanut Month for March, recognizing the local peanut farmers of South Georgia.
- Oconee State Bank, Watkinsville, recently announced the addition of Tiffany Carter, CPA and Senior Accountant at Williams and Guined (WAG CPA), to its Oconee Area Community Advisory Committee. Read more.
- Signature Bank of Georgia, Sandy Springs, is celebrating its 15th anniversary serving Metro Altanta. Read more.
- CenterState Bank, Macon, recently sponsored the First Annual Big Fat Fundraiser benefiting Big Brothers Big Sisters of The Heart of Georgia.
William L. “Bill” Gower, COO/SLO at Farmers & Merchants Bank, Eatonton, has been elected to the Board of Directors for: Farmers & Merchants Bank; Putnam Greene Financial Corporation; and The Farmers Bank, Greensboro.
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Dan West, Greater Community Bank, has been promoted City President - Cartersville.
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Bernie Beier, First Chatham Bank, Savannah, has been promoted to Senior Vice President of Commercial Lending.
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Taylor Jenkins, Flint Community Bank, Albany, has been promoted to Assistant Vice President – Professional and Small Business Banker.
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Heather Cook, Exchange Bank, Milledgeville, has been named Business Development Manager.
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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:
Be sure to think of CBA first when it comes to your training and Professional Development needs. Here are some upcoming CBA events:
Commissioner Black Announces $347M in Block Grants for Farm Recovery
Georgia Agriculture Commissioner Gary W. Black recently announced the Farm Recovery Block Grants for farmers and forest landowners affected by Hurricane Michael. The Georgia Department of Agriculture will begin accepting online applications for the $347 million in block grant funds on March 18, 2020. Georgia farmers and forest landowners in 95 eligible counties who suffered losses to beef, dairy, fruit and vegetable, pecan, poultry, timber, and uninsured infrastructure will need to enroll in the recovery program at farmrecovery.com. The federal block grants seek to help recover losses not covered under existing USDA Farm Service Agency programs. Read more.
Georgia Agriculture Commissioner Gary W. Black recently announced the Farm Recovery Block Grants for farmers and forest landowners affected by Hurricane Michael. The Georgia Department of Agriculture will begin accepting online applications for the $347 million in block grant funds on March 18, 2020. Georgia farmers and forest landowners in 95 eligible counties who suffered losses to beef, dairy, fruit and vegetable, pecan, poultry, timber, and uninsured infrastructure will need to enroll in the recovery program at farmrecovery.com. The federal block grants seek to help recover losses not covered under existing USDA Farm Service Agency programs. Read more.
March is National Credit Education Month
Each month CBA designs promotional items to help member banks celebrate different aspects of Community Banking. We offer themed promotional materials to use for your website and social media channels including banners, profile frames, square overlays, hashtags, quotes and facts.
As part of National Credit Education Month, CBA is helping community banks educate their customers on how credit works, how to check their credit report, and how to build their credit so they can reach their financial goals. CBA is providing graphics to promote the campaign, along with useful resources to help you educate your community about credit. Be sure to promote credit education this month online and on social media. Check out the marketing toolkit.
Each month CBA designs promotional items to help member banks celebrate different aspects of Community Banking. We offer themed promotional materials to use for your website and social media channels including banners, profile frames, square overlays, hashtags, quotes and facts.
As part of National Credit Education Month, CBA is helping community banks educate their customers on how credit works, how to check their credit report, and how to build their credit so they can reach their financial goals. CBA is providing graphics to promote the campaign, along with useful resources to help you educate your community about credit. Be sure to promote credit education this month online and on social media. Check out the marketing toolkit.
Bankers Attend CBA's BSA/AML Bootcamp
Last week, community bankers from across the state attended CBA's BSA/AML Bootcamp at Idle Hour Country Club in Macon. This interactive school focussed on the basic framework of BSA and Anti-Money Laundering (AML) compliance, as well as the knowledge and resources needed to effectively and proactively manage the BSA/AML function. Attendees also participated in case studies and reviewed "real world" situations to bring insights back to the bank. The program was facilitated by Kristi Greer and CBA's newest team member Becky Soto.
Thank you to all the students for joining us for the school. We would also like to thank our sponsors Warren Averett for sponsoring lunch & door prizes, and McNair, McLemore, Middlebrooks & Co., LLC for sponsoring attendee name badges.
Last week, community bankers from across the state attended CBA's BSA/AML Bootcamp at Idle Hour Country Club in Macon. This interactive school focussed on the basic framework of BSA and Anti-Money Laundering (AML) compliance, as well as the knowledge and resources needed to effectively and proactively manage the BSA/AML function. Attendees also participated in case studies and reviewed "real world" situations to bring insights back to the bank. The program was facilitated by Kristi Greer and CBA's newest team member Becky Soto.
Thank you to all the students for joining us for the school. We would also like to thank our sponsors Warren Averett for sponsoring lunch & door prizes, and McNair, McLemore, Middlebrooks & Co., LLC for sponsoring attendee name badges.
Scenes from the BSA/AML Bootcamp
Consumer & Commercial Loan Documentation Bootcamp
Thursday-Friday, April 16-17, 2020 | Hilton Garden Inn Macon/Mercer University
The Loan Documentation component of the lending process is essential in order to avoid loan losses due to poor documentation. If not performed properly, poor documentation can cause loans to be adversely classified even if the underlying credit is sound or if the loan is performing as agreed. This workshop will provide participants with a good understanding of the Consumer and Commercial Loan Documentation process from approval to closing. We invite you to choose to attend both days or choose your loan focus, consumer or commercial. Click here for the flyer. Register here.
Thursday-Friday, April 16-17, 2020 | Hilton Garden Inn Macon/Mercer University
The Loan Documentation component of the lending process is essential in order to avoid loan losses due to poor documentation. If not performed properly, poor documentation can cause loans to be adversely classified even if the underlying credit is sound or if the loan is performing as agreed. This workshop will provide participants with a good understanding of the Consumer and Commercial Loan Documentation process from approval to closing. We invite you to choose to attend both days or choose your loan focus, consumer or commercial. Click here for the flyer. Register here.
Meet QwickRate's Melissa Wallace: Georgia Communities First
The January/February issue of Georgia Communities First magazine features Melissa Wallace, Senior Account Executive at QwickRate, a Silver-Level Preferred Service Provider located in Marietta. CBA invited Melissa to participate in a Q&A so you can learn more about QwickRate and Melissa, herself.
Read the full article in CBA's latest issue of the reformatted Georgia Communities First magazine, now exclusively digital and issued bi-monthly. Check out the January/February 2020 issue.
The January/February issue of Georgia Communities First magazine features Melissa Wallace, Senior Account Executive at QwickRate, a Silver-Level Preferred Service Provider located in Marietta. CBA invited Melissa to participate in a Q&A so you can learn more about QwickRate and Melissa, herself.
Read the full article in CBA's latest issue of the reformatted Georgia Communities First magazine, now exclusively digital and issued bi-monthly. Check out the January/February 2020 issue.
Apply for 2020 AHP Competitive Program from FHLBank Atlanta
Federal Home Loan Bank of Atlanta’s Affordable Housing Program Competitive Program (AHP Competitive) provides funding to develop or rehabilitate housing that is affordable to low- and moderate-income families. Real estate developers partner with financial institutions to apply for up to $500,000 per project to help finance the construction of apartments, supportive housing, subdivisions, single-family homes, and more.
By participating in AHP Competitive projects, your institution can generate new business with developers and other stakeholders while achieving your affordable lending mission and/or compliance goals related to the Community Reinvestment Act (CRA). Read the brochure for benefits of the program and an overview of the process.
Federal Home Loan Bank of Atlanta’s Affordable Housing Program Competitive Program (AHP Competitive) provides funding to develop or rehabilitate housing that is affordable to low- and moderate-income families. Real estate developers partner with financial institutions to apply for up to $500,000 per project to help finance the construction of apartments, supportive housing, subdivisions, single-family homes, and more.
By participating in AHP Competitive projects, your institution can generate new business with developers and other stakeholders while achieving your affordable lending mission and/or compliance goals related to the Community Reinvestment Act (CRA). Read the brochure for benefits of the program and an overview of the process.
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Bahr Consultants, Inc. is a "fee only” risk management and insurance consulting firm that specializes in analysis of financial institutions insurance exposures. The focus is on the Financial Institution Bond, Directors & Officers Liability, Cyber Liability, Bankers Professional Liability and Property/Casualty insurance exposures for banks. Founded by W.H. (Hank) Bahr in 1988, Bahr Consultants conducts research and completes the documentation needed to obtain competitive pricing and ensure proper insurance coverage.
To learn more, contact Hank Bahr at 865-694-6098 or visit www.bahrconsultantsinc.com/. |
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Here are some of the latest national news stories relevant to community banking and the financial services industry:
- Powell: Fed monitoring coronavirus risks
- ICBA offers coronavirus resources
- Infographic: Looking inside the minds of community financial institution leaders
- FDIC issues CRA exam schedules
- Bowman to community banks: Stay engaged on FedNow
- CFPB posts TRID FAQs
- New-home sales highest since '07
- Latest Money Smart News spotlights curriculum users
- NCUA's Hood defends taxi medallion sell-off
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