ICBA released a summary of the Paycheck Protection Program reform law signed by President Trump on Friday for community banks to share with their small-business borrowers.
While further guidance and clarification from the SBA and Treasury is likely, the Paycheck Protection Program Flexibility Act of 2020:
ICBA strongly advocated additional reforms, such as allowing a forgiveness presumption of compliance for loans of $1 million or less. ICBA thanks community bankers for their strong grassroots outreach and will continue working with policymakers on PPP flexibilities. Call the CBA Legal Hotline for any issues, including PPP questions!
While further guidance and clarification from the SBA and Treasury is likely, the Paycheck Protection Program Flexibility Act of 2020:
- Extends from eight to 24 weeks the amount of time borrowers have to spend PPP funds while remaining eligible for forgiveness.
- Lowers the amount that must be spent on payroll costs from 75 percent to 60 percent, though there is no forgiveness if payroll is less than 60 percent.
- Extends to Dec. 31 the period in which employers may rehire or eliminate a reduction in employment, salary, or wages that would otherwise reduce the forgivable loan amount.
- Replaces the six-month deferral of payments due under PPP loans with deferral until the date on which the amount of loan forgiveness is remitted to the lender.
- Establishes a minimum maturity of five years for new PPP loans as opposed to the current two-year maturity date.
- Eliminates a provision that makes PPP loan recipients who have such indebtedness forgiven ineligible to defer payroll tax payments.
ICBA strongly advocated additional reforms, such as allowing a forgiveness presumption of compliance for loans of $1 million or less. ICBA thanks community bankers for their strong grassroots outreach and will continue working with policymakers on PPP flexibilities. Call the CBA Legal Hotline for any issues, including PPP questions!
Relationship Banking Critical to Success with PPP Program
A recent article in the Atlanta Business Chronicle showcased how banks were prepared to serve their customers seamlessly during COVID-19. An except from the article reads: According to John McNair, president and CEO of the Community Bankers Association of Georgia, community banks significantly outperformed other financial services providers both in Georgia and nationally in Round 1 of the PPP program. "As a result, small business customers were forced to carefully evaluate their banking relationship and I believe this will continue into the future," McNair said. "Along with the continued migration of small business customers to community banks, I believe the importance of fintech in the overall banking experience will grow exponentially. In my opinion, remote working is here to stay; however, the PPP program clearly illustrated the importance of having a personal relationship with a financial services provider. Marrying remote and digital banking tools with an interpersonal experience is a challenge for fintech entrepreneurs to tackle." Read the entire article.
A recent article in the Atlanta Business Chronicle showcased how banks were prepared to serve their customers seamlessly during COVID-19. An except from the article reads: According to John McNair, president and CEO of the Community Bankers Association of Georgia, community banks significantly outperformed other financial services providers both in Georgia and nationally in Round 1 of the PPP program. "As a result, small business customers were forced to carefully evaluate their banking relationship and I believe this will continue into the future," McNair said. "Along with the continued migration of small business customers to community banks, I believe the importance of fintech in the overall banking experience will grow exponentially. In my opinion, remote working is here to stay; however, the PPP program clearly illustrated the importance of having a personal relationship with a financial services provider. Marrying remote and digital banking tools with an interpersonal experience is a challenge for fintech entrepreneurs to tackle." Read the entire article.
Tell Congress & Regulators to Wake Up
The dominant issue in community banking these past months has of course been the Paycheck Protection Program and the economic impact of the coronavirus on your banks, customers, and communities. Community bankers have emerged as the champions of small businesses and their employees, which have all too unfortunately been blindsided by an abrupt shutdown caused by the COVID-19 pandemic. As we continue our relentless focus on customers in need, we must not let our guard down in continuing to urge Congress, the agencies, and the public to “wake up” to an overly-opportunistic credit union industry. Read more from ICBA President & CEO Rebecca Romero Rainey.
The dominant issue in community banking these past months has of course been the Paycheck Protection Program and the economic impact of the coronavirus on your banks, customers, and communities. Community bankers have emerged as the champions of small businesses and their employees, which have all too unfortunately been blindsided by an abrupt shutdown caused by the COVID-19 pandemic. As we continue our relentless focus on customers in need, we must not let our guard down in continuing to urge Congress, the agencies, and the public to “wake up” to an overly-opportunistic credit union industry. Read more from ICBA President & CEO Rebecca Romero Rainey.
Solutions for Success: Q&A on Multi-Channel Marketing
The May/June issue of Georgia Communities First the Solutions for Success series, which highlights timely issues and best practices from CBA Associate Members. CBA recently met with Lisa Small, CERP and Lisa Berry, CRCM, CCBCO, Principal, Warren Averett CPA’s & Advisors, to ask about best practices for banks to consider as they navigate serving their customers in this new environment. Read the full article in CBA's latest issue of Georgia Communities First magazine.
The May/June issue of Georgia Communities First the Solutions for Success series, which highlights timely issues and best practices from CBA Associate Members. CBA recently met with Lisa Small, CERP and Lisa Berry, CRCM, CCBCO, Principal, Warren Averett CPA’s & Advisors, to ask about best practices for banks to consider as they navigate serving their customers in this new environment. Read the full article in CBA's latest issue of Georgia Communities First magazine.
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- First National Bank of Coffee County, Douglas, is proud to announce the 2019-2020 Junior Board of Directors Member of the Year. Mr. Timothy J Tucker Jr. was chosen for showing positive contributions to each meeting, outstanding attendance, and overall dedication to the 2019-2020 Board. He received a $1,000 scholarship from FNBCC. Timothy is pictured receiving his scholarship from Jessica Hudson, FNBCC Junior Board Advisor.
- Personal Banker RaShawnda Lewis, Personal Banker, Renasant Bank, Valdosta, was recently recognized for her community service as a board member for Girls on the Run South Georgia. Click here for more.
- Jasmine Blaxton and Timothy Schaaf Jr. of the Bank of Soperton’s 2019-2020 Youth Leadership Class were recently awarded scholarships.
- United Community Bank, Blairsville, has chosen fifteen of its emerging leaders for the bank’s 2020 Leadership Academy, an internal professional development program which includes team members from around the four-state United Community Bank footprint. Congratulations to the following Georgia bankers:
- Amber Davenport, Branch Manager in Ellijay
- Jason Hultgren, Director of Retail Mortgage Sales, Atlanta
- Bernard Stanford, Commercial Relationship Manager, Conyers
- Sheila Stolorena, Commercial Real Estate Relationship Manager, Atlanta
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Brian Brooks, United Community Bank, Athens, has been named President of the Athens market. He succeeds Jay Staines, who retired after decades spent in the banking industry.
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Pete Peterson has joined United Community Bank, Blairsville, as Chief Retail Credit Officer.
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Melissa Malcom has joined Heritage Bank, a division of Heritage Bank Southeast, as Chief Human Resources Officer in McDonough.
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Sarah Blalock, Peach State Bank & Trust, Gainesville, has been named Vice President of Deposit Operations.
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Ashley Pressley, Peach State Bank & Trust, Gainesville, has been named Compliance and BSA Officer.
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The 2020 Georgia Financial Directory is online and available to all CBA members!
The directory is your complete resource within the Georgia financial industry and contains information on banks, holding companies, Preferred Service Providers, Associate Members and more. The directory is password protected, so please contact CBA if you need your login credentials. Once you access the directory, please see bookmarks in upper right-hand corner. Anyone in your bank or business can access!! Access your digital version!
The directory is your complete resource within the Georgia financial industry and contains information on banks, holding companies, Preferred Service Providers, Associate Members and more. The directory is password protected, so please contact CBA if you need your login credentials. Once you access the directory, please see bookmarks in upper right-hand corner. Anyone in your bank or business can access!! Access your digital version!
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 Annual Convention, Mini-Trade Show & Bank Directors’ College
A safe learning environment is top of mind for CBA and for the management and staff of the Hilton Sandestin. Take a moment to view the video on steps the Hilton has taken to provide the safest experience for their valued guests. Then be sure to visit CBA’s Convention Home Page and find the preliminary agenda, hotel information, an outline of the Bank Directors College and more!
A safe learning environment is top of mind for CBA and for the management and staff of the Hilton Sandestin. Take a moment to view the video on steps the Hilton has taken to provide the safest experience for their valued guests. Then be sure to visit CBA’s Convention Home Page and find the preliminary agenda, hotel information, an outline of the Bank Directors College and more!
In-Person or Live Virtual STREAM
This three- and half-day seminar will provide comprehensive insight on what you should be doing and how to do it to be an effective Compliance Officer. Combining lecture, written materials, breakout sessions and mini workshops, the Compliance Officer Boot Camp is a must whether you are new to compliance or have been moving through the motions of compliance for years.
This three- and half-day seminar will provide comprehensive insight on what you should be doing and how to do it to be an effective Compliance Officer. Combining lecture, written materials, breakout sessions and mini workshops, the Compliance Officer Boot Camp is a must whether you are new to compliance or have been moving through the motions of compliance for years.
Session III: Growing the Retail Branch | In-Person or Live Virtual SREAM
Workshop 3 focuses on the Retail Leader’s Role as Sales and Service Leaders. Attendees learn to plan, motivate, and challenge the team to consistently provide exceptional service and meet the Branch’s goals.
Workshop 3 focuses on the Retail Leader’s Role as Sales and Service Leaders. Attendees learn to plan, motivate, and challenge the team to consistently provide exceptional service and meet the Branch’s goals.
Reach Bankers at CBA’s Summer Ed Programs
It’s never been easier to get in front of Georgia’s community bankers than by participating in one of CBA’s numerous summer professional development programs. Many programs are offered both live and virtual, so you can “meet” with bankers, share product information, specials, trends, and more. Summer programs include: Bank Protection Summit, Banker Regulatory Forum, Advanced BSA School, Credit Analyst II, Supervisory Essentials II and much more. What does a virtual sponsorship look like? Experience for yourself. Contact Lindsay Greene for more information.
It’s never been easier to get in front of Georgia’s community bankers than by participating in one of CBA’s numerous summer professional development programs. Many programs are offered both live and virtual, so you can “meet” with bankers, share product information, specials, trends, and more. Summer programs include: Bank Protection Summit, Banker Regulatory Forum, Advanced BSA School, Credit Analyst II, Supervisory Essentials II and much more. What does a virtual sponsorship look like? Experience for yourself. Contact Lindsay Greene for more information.
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Digital Engagement Technologies
June 23, 2020 Join us for one or all three parts of the virtual CBA Technology Showcase - an exclusive new virtual event series for CBA members! Part two will be hosted by Wipfli Partner Mike Morris, and look at some of Digital Engagement Technologies' most innovative solutions. This session will feature demos and presentations from: SilverCloud • DeepTarget/Access Softek Sensibill • Lemonade • HC3 This 90-minute, bankers only event begins at 10:30 am and is free for all CBA members. Click here to register and learn more about showcase. |
Core, Data and Intelligence
June 30, 2020 In our final session, hosted by Scott Mills, President of William Mills Agency, we will look at some of the best Core, Data and Intelligence solutions available, featuring demos and presentations from: JHA • CSI • KlariVis • Xamin • Artis This 90-minute, exclusive banker event will begin at 10:30 am and is free for all CBA members. The first session starts June 16th. Click here for detailed information about the presenting companies. |
Webinar: Plug & Play PPP Forgiveness Solution for Banks
Tuesday, June 16, 2020 | 11:00 am ET
For the banks that made PPP loans, FINSYNC offers a portal through which all of their business customers can upload their forgiveness application and supporting documentation, which we will submit to the SBA. This solution requires zero core integration. We offer transparent pricing and no long-term contract. Click here to learn more and to register.
Tuesday, June 16, 2020 | 11:00 am ET
For the banks that made PPP loans, FINSYNC offers a portal through which all of their business customers can upload their forgiveness application and supporting documentation, which we will submit to the SBA. This solution requires zero core integration. We offer transparent pricing and no long-term contract. Click here to learn more and to register.
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Genesys Technology Group impacts your bottom line. Genesys assists community bankers in making wise technology decisions and encourages bankers to look at their technology holistically. Genesys specializes in technology evaluations and renegotiations. Simply put…Genesys saves your institution time and money, thereby providing immediate impact to your bottom line.
To learn more, contact David Saylor at 770-729-4140 or visit their website. |
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