After sustained ICBA and community banker advocacy, the Small Business Administration and Treasury Department released the Paycheck Protection Program Loan Forgiveness Application and instructions.
The application form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the CARES Act. The SBA also said it will also soon issue regulations and guidance to help borrowers complete their applications and inform lenders of their responsibilities.
The form and instructions include:
ICBA and community bankers have repeatedly called on the agencies to provide guidance on PPP loan forgiveness. Community bankers who continue to have trouble with the SBA's E-Tran and SBA Connect Lender Gateway portals can direct assistance questions to the SBA at 833-572-0502 or cls@sba.gov. Additional guidance and resources are available on Treasury’s PPP webpage and ICBA's COVID-19 resource center.
The application form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the CARES Act. The SBA also said it will also soon issue regulations and guidance to help borrowers complete their applications and inform lenders of their responsibilities.
The form and instructions include:
- Options for borrowers to calculate payroll costs using an “alternative payroll covered period” that aligns with borrowers’ regular payroll cycles.
- Flexibility to include eligible payroll and non-payroll expenses paid or incurred during the eight-week period after borrowers received their PPP loan.
- Step-by-step instructions on how to perform the calculations required by the CARES Act to confirm eligibility for loan forgiveness.
- Statutory exemptions from loan forgiveness reduction based on rehiring by June 30.
- The new exemption for borrowers whose good-faith, written offers to rehire workers were declined.
ICBA and community bankers have repeatedly called on the agencies to provide guidance on PPP loan forgiveness. Community bankers who continue to have trouble with the SBA's E-Tran and SBA Connect Lender Gateway portals can direct assistance questions to the SBA at 833-572-0502 or cls@sba.gov. Additional guidance and resources are available on Treasury’s PPP webpage and ICBA's COVID-19 resource center.
CALL TO ACTION - Tell FDIC to change brokered deposit proposal
ICBA is calling on community bankers to urge the FDIC to change its proposed regulations on what constitutes a brokered deposit. ICBA's Be Heard grassroots action center offers a custom letter that community bankers can use to tell the agency that its proposal is too broad and places undue limits on community banks.
FDIC has requested comment on a proposal to adopt new regulations on what constitutes a "brokered deposit." We need to make sure that FDIC hears what community bankers have to say.
Please take a moment and share your story on how this FDIC change could negatively impact your customers and your community bank. Read more.
ICBA is calling on community bankers to urge the FDIC to change its proposed regulations on what constitutes a brokered deposit. ICBA's Be Heard grassroots action center offers a custom letter that community bankers can use to tell the agency that its proposal is too broad and places undue limits on community banks.
FDIC has requested comment on a proposal to adopt new regulations on what constitutes a "brokered deposit." We need to make sure that FDIC hears what community bankers have to say.
Please take a moment and share your story on how this FDIC change could negatively impact your customers and your community bank. Read more.
Commissioner Hagler Named Chairman of CSBS
The Conference of State Bank Supervisors (CSBS) announced the election of Georgia Department of Banking and Finance Commissioner Kevin B. Hagler as the new chairman of the CSBS Board of Directors. CSBS also elected new officers for 2020-21 and announced new committee chair appointments during the organization’s annual membership meeting, held virtually due to the Covid-19 pandemic.
“We are very fortunate to have Kevin in Georgia and are grateful for Commissioner Hagler’s willingness to serve in this important role,” commented John McNair, President & CEO of Community Bankers Association of Georgia.
Read the release here.
The Conference of State Bank Supervisors (CSBS) announced the election of Georgia Department of Banking and Finance Commissioner Kevin B. Hagler as the new chairman of the CSBS Board of Directors. CSBS also elected new officers for 2020-21 and announced new committee chair appointments during the organization’s annual membership meeting, held virtually due to the Covid-19 pandemic.
“We are very fortunate to have Kevin in Georgia and are grateful for Commissioner Hagler’s willingness to serve in this important role,” commented John McNair, President & CEO of Community Bankers Association of Georgia.
Read the release here.
Congratulations to the 2020 Hester Scholarship Winners
The Community Bankers Association of Georgia is pleased to announce and congratulate the winners of the annual Julian & Jan Hester Memorial Scholarship. The 2020 scholarships were open to Georgia high school seniors who intend to enter a Georgia college, university or technical school in the fall semester of 2020. Applications were submitted to the association through CBA member community banks. Only four $1,000 scholarships are awarded each year.
The scholarship is named for the late Jan Hester, daughter of Lalia and the late Julian Hester, long-time CEO of the CBA. The scholarship program began in 1991 and is based on academic merit, not financial need. To compete, students must write a short essay on the characteristics of a community bank, and the continuing benefits they offer to their communities. In addition to supporting community banking, this scholarship fund is an opportunity to pass on the positive qualities both Julian and Jan Hester exemplified to further the development of tomorrow’s generations. Each winner receives $1,000 to the Georgia college, university or technical school of their choice. Congratulations to the 2020 Hester Scholarship winners and their nominating banks.
The Community Bankers Association of Georgia is pleased to announce and congratulate the winners of the annual Julian & Jan Hester Memorial Scholarship. The 2020 scholarships were open to Georgia high school seniors who intend to enter a Georgia college, university or technical school in the fall semester of 2020. Applications were submitted to the association through CBA member community banks. Only four $1,000 scholarships are awarded each year.
The scholarship is named for the late Jan Hester, daughter of Lalia and the late Julian Hester, long-time CEO of the CBA. The scholarship program began in 1991 and is based on academic merit, not financial need. To compete, students must write a short essay on the characteristics of a community bank, and the continuing benefits they offer to their communities. In addition to supporting community banking, this scholarship fund is an opportunity to pass on the positive qualities both Julian and Jan Hester exemplified to further the development of tomorrow’s generations. Each winner receives $1,000 to the Georgia college, university or technical school of their choice. Congratulations to the 2020 Hester Scholarship winners and their nominating banks.
Garrett Donalson
Mercer University
First Port City Bank
Ashni Patel
University of Georgia
First National Bank of Coffee County
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Yash Jani
Mercer University
Flint Community Bank
Bryanna Whitaker
Mercer University
The Bank of LaFayette
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Regulators give Atlanta de novo bank conditional approval
Craft Bank, a proposed de novo in Atlanta, GA, received conditional approval for a banking charter and deposit insurance from the Georgia Department of Banking and Finance and the Federal Deposit Insurance Corp. “CBA welcomes another new community bank into the state of Georgia,” stated John McNair, President & CEO of CBA. “The importance of having a vibrant community banking industry has never been so clear to Georgian’s and Americans. WELCOME CRAFT BANK!!” Read press release.
Craft Bank, a proposed de novo in Atlanta, GA, received conditional approval for a banking charter and deposit insurance from the Georgia Department of Banking and Finance and the Federal Deposit Insurance Corp. “CBA welcomes another new community bank into the state of Georgia,” stated John McNair, President & CEO of CBA. “The importance of having a vibrant community banking industry has never been so clear to Georgian’s and Americans. WELCOME CRAFT BANK!!” Read press release.
Georgia’s community bankers do great things in their communities every day. Here is the latest on community outreach and news from CBA Members:
- With the health and well-being of the bank’s team, customers, and community top of mind, Oconee State Bank, Watkinsville, officially reopened on Monday, May 18.
- Oconee State Bank, Watkinsville, recently partnered with Extra Special People, Inc. and Java Joy to serve hot & iced coffee with Eno’s Baked freshly baked chocolate chip cookies to some of our brave healthcare heroes at Piedmont Healthcare! It was an amazing afternoon filled with dances, air-hugs, and joy! See joy, spread joy!
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Colony Bankcorp announced that Leonard H. (“Lenny”) Bateman, Jr. has been named Executive Vice President and Chief Credit Officer effective June 1, 2020.
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Angie Ferra, PrimeSouth Bank, Brunswick, has joined the bank as a mortgage loan originator in Brunswick.
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Sarah Fargo, PrimeSouth Bank, Brunswick, has joined the bank as a mortgage loan originator in Fernandina Beach, FL.
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Congratulations to Dennis McNeer, Georgia Department of Banking & Finance, who will retire on May 31, 2020 after 30 years of service with the Department.
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Brittany Bohannon, Georgia Department of Banking & Finance, has been selected to fill the position of District Director of the Northeast District (District 2).
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Steve Filmer, Oconee State Bank, Watkinsville, was recently promoted to Senior Vice President Government Guaranteed Lending, and is also now a member of OSB’s Senior Leadership Team.
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Shannon Johnson, Oconee State Bank, Watkinsville, was recently promoted to Financial Center Manager of the Gwinnett Financial Center.
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Josh Gaskin, Oconee State Bank, Watkinsville, was recently promoted to Senior Personal Banker at our Main Office.
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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:
Don't miss the Retail Banking Forum
The Retail Banking Forum provides a platform and an opportunity for retail banking officers to exchange ideas freely and examine pressing issues in today's ever-evolving regulatory, cost- conscience, and results-driven environment. The agenda for each session is based on input from participants in the forum group and the facilitator. Also, subject matter experts will be brought in to cover specific pressing forum topics.
Learn more and register.
The Retail Banking Forum provides a platform and an opportunity for retail banking officers to exchange ideas freely and examine pressing issues in today's ever-evolving regulatory, cost- conscience, and results-driven environment. The agenda for each session is based on input from participants in the forum group and the facilitator. Also, subject matter experts will be brought in to cover specific pressing forum topics.
Learn more and register.
Webinar: ICBA Community Bank Briefing #10:
COVID-19 Regulatory Update & Q&A
Wednesday, May 20, 2020 | 11:00 am ET
This briefing will address ICBA’s continued advocacy related to the COVID-19 outbreak, federal banking agency action to date, and the remarkable response of community banks across the country. ICBA experts will focus on the recently-issued SBA PPP Loan Forgiveness Application and instructions. Questions remain unanswered; however the ICBA team will address the action it continues to take to push for more details and information for community banks. Participants are encouraged to bring questions to the briefing as the ICBA team will spend a majority of the time taking inquiries from community bankers. Space is limited – Register here.
COVID-19 Regulatory Update & Q&A
Wednesday, May 20, 2020 | 11:00 am ET
This briefing will address ICBA’s continued advocacy related to the COVID-19 outbreak, federal banking agency action to date, and the remarkable response of community banks across the country. ICBA experts will focus on the recently-issued SBA PPP Loan Forgiveness Application and instructions. Questions remain unanswered; however the ICBA team will address the action it continues to take to push for more details and information for community banks. Participants are encouraged to bring questions to the briefing as the ICBA team will spend a majority of the time taking inquiries from community bankers. Space is limited – Register here.
FREE VIRTUAL HR RAP SESSION
Friday, June 12, 2020 | 10:00 am -12:00 pm ET
CBA has partnered with James Bates Brannan Groover LLP to bring you two FREE Virtual Live RAP Sessions. Grant Greenwood, Partner, will be providing expert knowledge as we facilitate these RAP, Roundtable Advice for Professional Development, sessions.
Friday, June 12, 2020 | 10:00 am -12:00 pm ET
CBA has partnered with James Bates Brannan Groover LLP to bring you two FREE Virtual Live RAP Sessions. Grant Greenwood, Partner, will be providing expert knowledge as we facilitate these RAP, Roundtable Advice for Professional Development, sessions.
Webinar: FREE Balance Sheet Challenges & Opportunities
STREAM - Live Virtual Training
Tuesday, June 9, 2020 | 10:00-11:30 am ET
This year has caused community bankers to deal with a range of issues that they had not anticipated. In many cases, the investment portfolio has been on autopilot while bankers have dealt with loan demand and funding matters, not to mention record low interest rates. This webinar will discuss the current state of investing, and will highlight sectors that appear to be both overvalued and undervalued. We will also discuss some strategies for efficient funding. Learn more and register.
STREAM - Live Virtual Training
Tuesday, June 9, 2020 | 10:00-11:30 am ET
This year has caused community bankers to deal with a range of issues that they had not anticipated. In many cases, the investment portfolio has been on autopilot while bankers have dealt with loan demand and funding matters, not to mention record low interest rates. This webinar will discuss the current state of investing, and will highlight sectors that appear to be both overvalued and undervalued. We will also discuss some strategies for efficient funding. Learn more and register.
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Fitech is a merchant services provider that was founded to serve community banks exclusively. With their relationship first approach, Fitech has been able to assist community banks in being more competitive with merchant services resulting in growth for the bank and adding many benefits for their business customers.
To learn more, contact Matt Mingenback at 662-801-7578 or visit their website. |
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Here are some of the latest national news stories relevant to community banking and the financial services industry: Additional Resources:
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