After careful consideration, CBA announced last week the decision to cancel the LEAD convention. “Ron Quinn, CBA Board of Directors Chair and Greg Proffitt, CBA Leadership Division Chair felt this was in the best interest of our member banks and partner firms,” stated John McNair, President & CEO of CBA. “We have combined the 2020 LEAD convention with the agenda for the Annual Convention scheduled for September 24-27, 2020 at the Hilton Sandestin in Miramar Beach, Florida and we’re excited about the event and dual track programming for our bankers.”
CBA conventions are known for finding the right mix of high-quality professional development programming with a fun and comfortable environment. Take a look for info about the keynote speakers, the oceanfront Hilton Sandestin, the Directors’ College, a preliminary agenda and the fun themes we have in store for this year’s event. “This year, perhaps more than ever before, we believe it is important to come together as Georgia’s community bankers and share our knowledge, experiences and friendship with each other,” explained Mr. McNair. Register here.
CBA conventions are known for finding the right mix of high-quality professional development programming with a fun and comfortable environment. Take a look for info about the keynote speakers, the oceanfront Hilton Sandestin, the Directors’ College, a preliminary agenda and the fun themes we have in store for this year’s event. “This year, perhaps more than ever before, we believe it is important to come together as Georgia’s community bankers and share our knowledge, experiences and friendship with each other,” explained Mr. McNair. Register here.
SB157 crosses $100 million!
CBA’s signature legislation SB157 signed into law last year has a dramatic effect for Georgia’s community banks. In only a few months, almost $110 million of deposits have been placed in reciprocal deposits networks. Approximately 70 community banks have either engaged a third party provider or are in the queue to do so. Not only has the legislation helped community banks improve their liquidity position, it has also eliminated bond record keeping associated with collateral pledging and provided a more cost effective alternative in the event of bond calls. If you have questions about SB157 and the potential benefits for your bank, contact CBA.
CBA’s signature legislation SB157 signed into law last year has a dramatic effect for Georgia’s community banks. In only a few months, almost $110 million of deposits have been placed in reciprocal deposits networks. Approximately 70 community banks have either engaged a third party provider or are in the queue to do so. Not only has the legislation helped community banks improve their liquidity position, it has also eliminated bond record keeping associated with collateral pledging and provided a more cost effective alternative in the event of bond calls. If you have questions about SB157 and the potential benefits for your bank, contact CBA.
Round 2 – Community banks make more than half of PPP 2.0 loans: SBA
The SBA said lenders have made 2.2 million loans worth more than $175 billion during the second round of the Paycheck Protection Program, for an average loan size of roughly $79,000. Loans of $50,000 and under made up nearly 71 percent of all second-round loans.Georgia community bankers have been working around the clock with the second round of the Payroll Protection Program. According to the Small Business Administration (SBA), approvals from 4/27/2020 through 05/01/2020 in Georgia totaled 64,784 loans for $4,663,014,07
According to the April 27-May 1 data, lenders with less than $10 billion in assets made nearly 39 percent of the loans, which are worth more than $55 billion, or nearly 32 percent of the total dollar value. Lenders with between $10 billion and $50 billion in assets made nearly 15 percent of the loans, worth nearly $28 billion, or some 16 percent of approved dollars.
ICBA, affiliated state associations, and community bankers worked to ensure at least $60 billion of the PPP funds were aside for community financial institutions, including at least $30 billion for institutions under $10 billion in assets and another $30 billion for those with between $10 billion and $50 billion in assets. Community banks may continue to submit loans to be funded by the remainder of the $250 billion in general funds authorized for the second phase of the PPP.
Community banks are being recognized for their role in PPP and over support of the communities they serve and here are a few highlights over the past week.
The SBA said lenders have made 2.2 million loans worth more than $175 billion during the second round of the Paycheck Protection Program, for an average loan size of roughly $79,000. Loans of $50,000 and under made up nearly 71 percent of all second-round loans.Georgia community bankers have been working around the clock with the second round of the Payroll Protection Program. According to the Small Business Administration (SBA), approvals from 4/27/2020 through 05/01/2020 in Georgia totaled 64,784 loans for $4,663,014,07
According to the April 27-May 1 data, lenders with less than $10 billion in assets made nearly 39 percent of the loans, which are worth more than $55 billion, or nearly 32 percent of the total dollar value. Lenders with between $10 billion and $50 billion in assets made nearly 15 percent of the loans, worth nearly $28 billion, or some 16 percent of approved dollars.
ICBA, affiliated state associations, and community bankers worked to ensure at least $60 billion of the PPP funds were aside for community financial institutions, including at least $30 billion for institutions under $10 billion in assets and another $30 billion for those with between $10 billion and $50 billion in assets. Community banks may continue to submit loans to be funded by the remainder of the $250 billion in general funds authorized for the second phase of the PPP.
Community banks are being recognized for their role in PPP and over support of the communities they serve and here are a few highlights over the past week.
- Community banks to the rescue for small biz: WSJ
- Small business loan helped keep afloat critical health clinic on Atlanta's West End features Unity Bank President George Andrews.
- Small Georgia businesses scramble for second round of relief loans
- Key Lessons about the Payroll Protection Program for Financial Institutions features United Community Bank and the nearly 7,000 businesses they served in round one of PPP.
- CBA President & CEO John McNair penned an Op-Ed which was picked up in several publications across the state. Virus shines spotlight on banking relationships
- CBA was able to line up Loyal Trust Bank CEO Charlie Brown to participate on a video constituent call with Sen Zahra Karnishak to talk about PPP.
- Last week, John McNair received a personal phone call from Senator David Perdue thanking Georgia’s community bankers for their hard work and success in helping their customers. Additionally, John was contacted by a representative from the White House and he shared numerous main street stories from CBA member banks about their customers.
Securing PPE Items is a Priority for CBA Banks and Associate Members
As banks and businesses prepare to open their doors to customers, CBA has heard from several members expressing frustrations on being able to secure enough personal protective equipment (PPE) for both staff and customers as the coronavirus outbreak remains a national crisis. CBA Associate Member WebbMason in Atlanta has put together a customized portal to order PPE items exclusively for CBA members. The portal includes various quantities of masks, acrylic dividers, sanitizers, floor decals, signage and more. Product certifications can be provided upon request. Each item listed in the portal specifies the timeline for delivery and items will shipped directly to the bank. Click here for more info. Be sure to include all contact info as some orders have been submitted without contact info.
As banks and businesses prepare to open their doors to customers, CBA has heard from several members expressing frustrations on being able to secure enough personal protective equipment (PPE) for both staff and customers as the coronavirus outbreak remains a national crisis. CBA Associate Member WebbMason in Atlanta has put together a customized portal to order PPE items exclusively for CBA members. The portal includes various quantities of masks, acrylic dividers, sanitizers, floor decals, signage and more. Product certifications can be provided upon request. Each item listed in the portal specifies the timeline for delivery and items will shipped directly to the bank. Click here for more info. Be sure to include all contact info as some orders have been submitted without contact info.
Liability Protections to Support Strong Economic Recovery
Yesterday, CBA was one of many signers in a letter to the Governor, Lt. Governor, and Speaker regarding immunity for businesses and healthcare providers during the COVID-19 pandemic. The number of supporters on this letter shows the unified support within the business community for legislation addressing this important issue. Prioritizing the safety of employees and customers remains the top priority as businesses re-open and assess operations. Businesses across the state are creating and adjusting to new protocols and procedures; however, some risk remains for businesses that open. To bolster a full economic recovery, certain liability protections are needed as businesses work to respond to this unprecedented pandemic. Click here to read the letter.
Yesterday, CBA was one of many signers in a letter to the Governor, Lt. Governor, and Speaker regarding immunity for businesses and healthcare providers during the COVID-19 pandemic. The number of supporters on this letter shows the unified support within the business community for legislation addressing this important issue. Prioritizing the safety of employees and customers remains the top priority as businesses re-open and assess operations. Businesses across the state are creating and adjusting to new protocols and procedures; however, some risk remains for businesses that open. To bolster a full economic recovery, certain liability protections are needed as businesses work to respond to this unprecedented pandemic. Click here to read the letter.
Congratulations to ICBA’s Top Performing Georgia Community Banks
ICBA’s annual list of this year’s top-performing banks boasts institutions that focus on efficiency and personal service that builds strong, lasting relationships. Their success last year has set them up to ride out this year’s storm. Congratulations to Georgia community banks:Embassy National Bank, Lawrenceville; First IC Bank, Doraville; FNB South, Alma; Quantum National Bank, Suwanee; and Metro City Bank, Doraville. Read the entire article.
ICBA’s annual list of this year’s top-performing banks boasts institutions that focus on efficiency and personal service that builds strong, lasting relationships. Their success last year has set them up to ride out this year’s storm. Congratulations to Georgia community banks:Embassy National Bank, Lawrenceville; First IC Bank, Doraville; FNB South, Alma; Quantum National Bank, Suwanee; and Metro City Bank, Doraville. Read the entire article.
Georgia’s community bankers do great things in their communities every day. Here is the latest on community outreach and news from CBA Members:
- Exchange Bank, Milledgeville, announced the recipients of the 2020 Exchange Bank Scholarship.
Sutton Eady, Faith Wealot and Jessica Patino each received a $1,500 scholarship to an institution of their choice in the State of Georgia. Click for press release. - The staff at One South Bank, Macon, created a special messages for bank customers. The front-line team shared “Our frontline staff is here to serve you! We are committed to be here for our customers everyday, we are all in this together!” and the PPP loan team shared “Our PPP loan team is here to support you! We are thankful for our small businesses and our communities! OneSouth Bank, One Bank for Life!”
- Last week, Oconee State Bank, Watkinsville, was thankful to release a series of PPP customer testimonials. Customers were proud to share their stories and the impact that the PPP was having on their businesses and communities. (All videos can be seen on our FB page or YouTube channel) https://www.youtube.com/channel/UCaRl4J7-VjAZ80-SwD33wOA
- Oconee State Bank also shared a fun lineup for our OSB Kids last week! From storytime with our Bogart team, to a tour of Main Office, and some sing-along fun with Butler’s Crossing, we had something for everyone! https://www.youtube.com/channel/UCaRl4J7-VjAZ80-SwD33wOA
- On Friday, May 1, Oconee State Bank held their Quarterly Team Meeting via zoom. No better way to kickoff your day than listening to Coach Mark Richt and the team at D1 Training Athens (Fred Munzenmaier & Jon Richt) share motivational wisdom and the importance of living your values!
Terry Evans has joined Peach State Bank, Gainesville as Executive Vice President.
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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:
CBA's 13th Annual Advanced BSA Officer School
August 25-27, 2020
Celebrate the 50th Anniversary of the Bank Secrecy Act at the beach! CBA's 13th Annual Advanced BSA Officer School includes roundtable discussions, BSA Hot Topics & Trends, BSA exam manual, To Bank or Not Bank – High Risk Customers, Products and Services, Understanding MRB in Georgia; CBD, Hemp and Marijuana, regulatory updates, banker panel and much more! Register today and enjoy all of this at the beautiful King and Prince Beach and Golf Resort in St. Simons Island!
August 25-27, 2020
Celebrate the 50th Anniversary of the Bank Secrecy Act at the beach! CBA's 13th Annual Advanced BSA Officer School includes roundtable discussions, BSA Hot Topics & Trends, BSA exam manual, To Bank or Not Bank – High Risk Customers, Products and Services, Understanding MRB in Georgia; CBD, Hemp and Marijuana, regulatory updates, banker panel and much more! Register today and enjoy all of this at the beautiful King and Prince Beach and Golf Resort in St. Simons Island!
Compliance Officer Bootcamp: June 23-26, 2020
How to be a Compliance Officer is a question that looms over most compliance professionals. Many are bestowed the position due to absence one day, while some actively pursued compliance. There are lists of what a compliance officer should do without much insight as to How. This three and a half- day seminar combines lecture, written materials, breakout sessions and mini workshops. An evening networking reception on Jekyll Island is being planned.
How to be a Compliance Officer is a question that looms over most compliance professionals. Many are bestowed the position due to absence one day, while some actively pursued compliance. There are lists of what a compliance officer should do without much insight as to How. This three and a half- day seminar combines lecture, written materials, breakout sessions and mini workshops. An evening networking reception on Jekyll Island is being planned.
SAVE THE DATES!
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Webinar: The End of LIBOR
Tuesday, May 12, 2020 | 11:00 am ET
ICBA Securities and its exclusively-endorsed broker, Vining Sparks, will present a webinar on The End of LIBOR. This webinar is designed to provide the latest information from ARRC and other important constituencies regarding the transition away from LIBOR. Learn more and register.
Tuesday, May 12, 2020 | 11:00 am ET
ICBA Securities and its exclusively-endorsed broker, Vining Sparks, will present a webinar on The End of LIBOR. This webinar is designed to provide the latest information from ARRC and other important constituencies regarding the transition away from LIBOR. Learn more and register.
Webinar: COVID19 Pandemic Essentials for Financial Institutions:
Top Five Action Items in Technology & Operations
Tuesday, May 19, 2020 | 11:00 AM ET
As a leader, you know your company is considered an essential business. A business that must continue to operate through hard times, whether it be a natural disaster, or the COVID19 Pandemic.
Join us as All Covered's Tara Swart, Director of Compliance Services and Dave McOlgan, Information Security Consultant, Financial review the Top Five Actions you need to take now to make sure your financial institution’s Operating and Technology environment remains secure and compliant during the COVID19 crisis.
Learn more and register.
Top Five Action Items in Technology & Operations
Tuesday, May 19, 2020 | 11:00 AM ET
As a leader, you know your company is considered an essential business. A business that must continue to operate through hard times, whether it be a natural disaster, or the COVID19 Pandemic.
Join us as All Covered's Tara Swart, Director of Compliance Services and Dave McOlgan, Information Security Consultant, Financial review the Top Five Actions you need to take now to make sure your financial institution’s Operating and Technology environment remains secure and compliant during the COVID19 crisis.
Learn more and register.
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BFS Group is a national leader in providing BOLI products, services, administration, and consulting. With over 525 community bank clients and 12 Regional offices throughout the country, BFS Group supports the management of all BOLI portfolios with the primary goal of providing unparalleled customer support, increasing the bank's bottom line earnings and enhancing shareholder value. BFS Group also delivers unmatched expertise in the design, implementation, and servicing of executive & director Non-Qualified Benefit plans to reward, retain and attract key individuals.
To learn more, contact John Gianacaci at 609-915-9168 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:
- Atlanta Fed Launches Tool to Monitor Unemployment Claim
- Senior Loan Officer Opinion Survey on Bank Lending Practices
- What will you plant in 2020
- How Are PPP Loans Forgiven? What We Know Now
- Atlanta Fed Launches Tool to Monitor Unemployment Claims
- Federal Reserve Survey Shows Impact of COVID-19 on Communities Nationwide
- SBA opens Economic Injury Disaster Loans to Ag Businesses
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