COMMUNITY BANKERS ASSOCIATION OF GEORGIA
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ADVOCACY UPDATE




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Municipal Deposit Legislation

3/29/2019

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This week, CBA’s priority bill, SB 157, was passed by the House by a unanimous vote of 168-0!  CBA has secured unanimous support vote for the bill throughout the entire legislative process—Senate Banking & Financial Institutions Committee, the full Senate, House Banks & Banking Committee and the full House.  All of Georgia’s legislators showed their understanding of the importance of providing an option for community banks to fairly compete with large, mostly out of state bank deposit gathering stores for local municipal deposits.  Now, the bill will go to Governor Kemp for signature.  We greatly appreciate Sen. John Kennedy (R), Macon and Rep. Dale Washburn (R), Macon, guiding the bill through this legislative process.      We are thankful for our partnerships with National Federation of Independent Businesses (NFIB), the Georgia Municipal Association (GMA), and the Association of County Commissioners (ACCG) in making this bill a possibility. 

Currently, Georgia’s community banks have nearly $4 billion of municipal deposits on their balance sheets.  By eliminating the pledging requirements by using a deposit placement service, the impact on liquidity will be substantial.  Moreover, community banks now have a level playing field to compete with large, out-of-state deposit gathering institutions for all municipal deposits.  CBA estimates that the total municipal deposit marketplace is $22 billion.  With an average loan to deposit ratio of 75%, Georgia’s community banks will be able to dramatically increase lending in their local markets thereby helping small businesses start and grow, funding homeownership as well as a variety of agriculture and consumer loans.  SB 157 will change people’s lives and all of us at CBA are proud, honored and humbled to have had the opportunity to impact the Georgia’s community banking industry in this most positive manner!

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    Lori Godfrey
    EVP, Chief of Staff, Government & Regulatory Relations
    View my profile on LinkedIn
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  • HOME
  • ABOUT CBA
    • Board of Directors
    • CBA Committees
    • LEAD Division
    • Office Directions & Hours
    • Our Team
    • Privacy Policy
    • Remembering Julian Hester
  • MEMBERSHIP
    • Member Login
    • Associate Members >
      • Associate Member Benefits & Application
      • Associate Member Directory >
        • Company Listing Update
    • Bank Members >
      • Member Benefits
      • Member Bank Directory >
        • Bank Listing Update
      • Lifetime Service Awards
    • Preferred Service Providers
    • ADVERTISING & SPONSORSHIP OPPORTUNITIES
    • Resources >
      • CBA Legal Hotline
      • CBA Career Center
      • CBA Wellness Solutions
      • April is Community Banking Month
      • Marketing Resources
      • Useful Websites
  • PROFESSIONAL DEVELOPMENT
    • Community Bankers College
    • Programs >
      • Calendar
      • Programs by Functional Category
      • Webinars
      • Banker Regulatory Forum
      • Barret School of Banking
      • Community Bank Leadership Academy
      • Compliance Professionals Package >
        • 2023 Compliance Professionals Package
      • Connect (Convention)
      • Executive Channel
      • HR & Talent Development League
      • WINSPIRE - Women in Banking
    • Resources >
      • Cancellation Policies & Facility Maps
      • Compliance Resources
      • Disaster & Pandemic Support & Preparedness
      • FDIC Regulatory Calendar
      • Financial Literacy
      • Speakers
    • Scholarships/Student Development >
      • Julian & Jan Hester Scholarship
      • McNair Scholarship
      • Walraven Scholarship
      • Rise Up - College Student Development Program
  • PUBLICATIONS
    • Advocacy Update
    • Education Buzz
    • eNewsletter - CBA Today
    • Georgia Communities First Magazine
    • Georgia Financial Directory
    • Innovation Circuit
    • Peachy Posts
    • Swaggin Wagon Adventures
  • ADVOCACY
    • Programs >
      • Clay Shoot
      • TopGolf Tournaments
      • Town Hall Talks
    • Advocacy Fund >
      • T-Shirt Advocacy Fundraiser
      • Corporate Donations
      • Individual Donations
    • Advocacy Update
    • ICBA Plan for Prosperity
    • Locate Your Legislator
    • Priority Legislation SB 157 >
      • SB 157 Survey
    • SBA/PPP Resources >
      • THE CARES ACT & SBA LENDING
      • Paycheck Protection Program
      • PSP & Associate Member Support During Covid-19
    • Silent Auction Items