April 6, 2016
Events
CBA University
Industry Representation
Legislative Updates
Member Services
Conferences
Conventions
Schools
Webinars
Banker Regulatory Forums
Compliance
CBA University
Industry Representation
Legislative Updates
Member Services
Conferences
Conventions
Schools
Webinars
Banker Regulatory Forums
Compliance
Superior
Products,
Significant Discounts
Products,
Significant Discounts
Investment Services
The Financial Accounting Standards Board’s revisions to the Current Expected Credit Loss model is making news. The Wall Street Journal reported on FASB’s recently announced efforts to ensure the CECL standard won’t be as costly or complex for community banks.
At last Friday’s Transition Resource Group meeting on the accounting standards update, ICBA Vice Chairman Tim Zimmerman said FASB has clearly listened to the concerns of ICBA and community bankers. However, he noted that the regulators and auditors who will implement the standard must recognize the significant changes FASB has made.
The revised CECL proposal will allow community banks to continue using their personal understanding of their local markets—instead of complex modeling systems—to determine their loan-loss reserves. It also would allow community banks to evaluate and adjust their loan-loss amounts using qualitative factors, historical losses, and current systems, such as spreadsheets and narratives.
ICBA, its affiliated state associations, and community bankers have worked relentlessly to address problems with FASB’s CECL proposal since it was introduced in 2011, including delivering a petition to FASB with nearly 5,000 signatures and meeting directly with the FASB board at a February 4 roundtable.
Read ICBA Release or more from FASB
At last Friday’s Transition Resource Group meeting on the accounting standards update, ICBA Vice Chairman Tim Zimmerman said FASB has clearly listened to the concerns of ICBA and community bankers. However, he noted that the regulators and auditors who will implement the standard must recognize the significant changes FASB has made.
The revised CECL proposal will allow community banks to continue using their personal understanding of their local markets—instead of complex modeling systems—to determine their loan-loss reserves. It also would allow community banks to evaluate and adjust their loan-loss amounts using qualitative factors, historical losses, and current systems, such as spreadsheets and narratives.
ICBA, its affiliated state associations, and community bankers have worked relentlessly to address problems with FASB’s CECL proposal since it was introduced in 2011, including delivering a petition to FASB with nearly 5,000 signatures and meeting directly with the FASB board at a February 4 roundtable.
Read ICBA Release or more from FASB
Next Spring Regional Luncheon Meeting in One Week!
CBA's next Spring Regional Luncheon Meeting is next week. If you have not already registered, make plans now to attend a meeting in either Hoschton on April 13 or Albany on April 20. The Spring Meetings offer the perfect opportunity to network with both community bankers and CBA associate members. The informative working lunch format is an efficient way to brush up on timely topics, make new contacts and build existing relationships.
Don't forget - both meetings will be followed by a PAC/PR Golf Tournament and post-tournament cookout. The CBA maintains the only state PAC working exclusively for Georgia's community banks. Register your team of four today! (Attendance to the Luncheon Meeting is included in the price for golf.)
View the Golf Tournament brochure or the Spring Luncheon flyer. A few Golf Tournament sponsorships are still available! Please contact Lindsay Greene (770) 541-0376 to learn more. For general information, please contact Peake Wilson (770) 541-0379.
CBA's next Spring Regional Luncheon Meeting is next week. If you have not already registered, make plans now to attend a meeting in either Hoschton on April 13 or Albany on April 20. The Spring Meetings offer the perfect opportunity to network with both community bankers and CBA associate members. The informative working lunch format is an efficient way to brush up on timely topics, make new contacts and build existing relationships.
Don't forget - both meetings will be followed by a PAC/PR Golf Tournament and post-tournament cookout. The CBA maintains the only state PAC working exclusively for Georgia's community banks. Register your team of four today! (Attendance to the Luncheon Meeting is included in the price for golf.)
View the Golf Tournament brochure or the Spring Luncheon flyer. A few Golf Tournament sponsorships are still available! Please contact Lindsay Greene (770) 541-0376 to learn more. For general information, please contact Peake Wilson (770) 541-0379.
Court Raises Constitutional Questions About CFPB
Two appeals court judges raised constitutional questions Monday about the structure of the Consumer Financial Protection Bureau in the agency's case alleging that PHH Corp. accepted illegal kickbacks. Judges with the U.S. Court of Appeals for the District of Columbia said that lawyers involved in the case should be prepared to answer several constitutional questions at the next hearing, including, "What independent agencies now or historically have been headed by a single person?"
The judges also asked, "If an independent agency headed by a single person violates Article II [of the Constitution] … what would the appropriate remedy be?" The appeals court is expected to hear oral arguments in the PHH case on April 12. One of the issues that PHH raised in its appeal of a $109.2 million judgment by the CFPB last year is whether the structure of the bureau violates the Constitution's separation of powers doctrine. Click here to read more in American Banker.
Two appeals court judges raised constitutional questions Monday about the structure of the Consumer Financial Protection Bureau in the agency's case alleging that PHH Corp. accepted illegal kickbacks. Judges with the U.S. Court of Appeals for the District of Columbia said that lawyers involved in the case should be prepared to answer several constitutional questions at the next hearing, including, "What independent agencies now or historically have been headed by a single person?"
The judges also asked, "If an independent agency headed by a single person violates Article II [of the Constitution] … what would the appropriate remedy be?" The appeals court is expected to hear oral arguments in the PHH case on April 12. One of the issues that PHH raised in its appeal of a $109.2 million judgment by the CFPB last year is whether the structure of the bureau violates the Constitution's separation of powers doctrine. Click here to read more in American Banker.
How OCC Plans to 'Manage' Fintech Innovation
The Office of the Comptroller of the Currency unveiled a white paper Thursday detailing how it plans to supervise financial innovation at national banks and beyond, taking a broad albeit tentative approach to the issue. The 11-page paper describes eight principles the agency will follow in handling regulation of financial technology, ranging from a commitment to better communicate with financial institutions to a pledge to work with the Consumer Financial Protection Bureau and other regulators to develop a consistent supervisory approach to fintech products.
"Essentially, we are working on a framework to help us understand and evaluate innovation," said Comptroller Thomas Curry in prepared remarks for a speech delivered Thursday at Harvard University. Innovation "is not risk free. But it can be managed, and we want to foster an internal culture that is receptive to new technology and new ways of doing business." Read more in American Banker.
The Office of the Comptroller of the Currency unveiled a white paper Thursday detailing how it plans to supervise financial innovation at national banks and beyond, taking a broad albeit tentative approach to the issue. The 11-page paper describes eight principles the agency will follow in handling regulation of financial technology, ranging from a commitment to better communicate with financial institutions to a pledge to work with the Consumer Financial Protection Bureau and other regulators to develop a consistent supervisory approach to fintech products.
"Essentially, we are working on a framework to help us understand and evaluate innovation," said Comptroller Thomas Curry in prepared remarks for a speech delivered Thursday at Harvard University. Innovation "is not risk free. But it can be managed, and we want to foster an internal culture that is receptive to new technology and new ways of doing business." Read more in American Banker.
ICBA Leadership Banker Named to CECL Transition Group
In a major success for community banks, the Financial Accounting Standards Board named ICBA leadership community banker Timothy Zimmerman to its advisory council on the Current Expected Credit Loss accounting model. The ICBA vice chairman will serve on FASB’s Transition Resource Group, which was created in part to help address concerns about the impact of CECL on community banks.
In a statement, ICBA said the certified public accountant is an expert on how CECL would affect the industry if community banks are required to take day-one losses and implement complex modeling systems. Zimmerman, president and CEO of Standard Bank in Monroeville, PA, is the sole community bank representative in a group dominated by large banks and their audit firms.
FASB’s Transition Resource Group will focus on the adoption of the final impairment standard and the implementation of CECL, which is expected to dramatically change the way community banks provision for future credit losses on loans. ICBA will continue to push for a more reasonable approach for community banks that would allow for the use of currently available resources, including Excel spreadsheets and non-complex metrics. Read More from FASB.
In a major success for community banks, the Financial Accounting Standards Board named ICBA leadership community banker Timothy Zimmerman to its advisory council on the Current Expected Credit Loss accounting model. The ICBA vice chairman will serve on FASB’s Transition Resource Group, which was created in part to help address concerns about the impact of CECL on community banks.
In a statement, ICBA said the certified public accountant is an expert on how CECL would affect the industry if community banks are required to take day-one losses and implement complex modeling systems. Zimmerman, president and CEO of Standard Bank in Monroeville, PA, is the sole community bank representative in a group dominated by large banks and their audit firms.
FASB’s Transition Resource Group will focus on the adoption of the final impairment standard and the implementation of CECL, which is expected to dramatically change the way community banks provision for future credit losses on loans. ICBA will continue to push for a more reasonable approach for community banks that would allow for the use of currently available resources, including Excel spreadsheets and non-complex metrics. Read More from FASB.
Hester Scholarship Applications Due to Banks This Friday!
The 2016 Julian & Jan Hester Memorial Scholarship applications should be returned to the bank no later than Friday, April 8, 2016. All completed applications should be submitted to CBA no later than Friday, April 15, 2016. For more information, visit the Hester Scholarship page. The 2016 J. Steven Walraven Memorial Scholarship applications should be received by the CBA office by Friday, April 15, 2016. For more information, visit the Walraven Scholarship page or contact Tony Moore. Winners will be announced in early May.
The 2016 Julian & Jan Hester Memorial Scholarship applications should be returned to the bank no later than Friday, April 8, 2016. All completed applications should be submitted to CBA no later than Friday, April 15, 2016. For more information, visit the Hester Scholarship page. The 2016 J. Steven Walraven Memorial Scholarship applications should be received by the CBA office by Friday, April 15, 2016. For more information, visit the Walraven Scholarship page or contact Tony Moore. Winners will be announced in early May.
Mortgage Lending School Hits the Ground Running!
Community bankers from across the state participated in the Inaugural Mortgage Lending School in Atlanta last week. This three-day comprehensive school focused on training for entry to junior-level residential mortgage lenders and covered all disciplines required of today’s community bank mortgage lenders to assist them in improving mortgage customer service, more efficient processing and servicing and stronger underwriting.
One of the highlights of the school and a great hands-on training experience was a visit to a residential construction site. This site visit allowed the bankers to learn what to look for as they evaluate the status of a home under construction relative to the construction loan draw schedule. The overall feedback from the participants was excellent. “The simple format, engaging discussions and real-life solutions and methodology is what helped me most in the school,” said Andrea DeSantiago, Colony Bank, Quitman. “Lots of great information for people starting out in Mortgage Lending and a great refresher for others,” said Julie Wilson, Capital Bank, Fort Oglethorpe.
The CBA appreciates the participation of the students and the expertise from David Kemp, President, Bankers Management, Inc., McDonough, Georgia, for his development and delivery of such a quality school. We also extend a big “thank you” to the other speakers: Ashli Matson, Vice President & Account Executive-Georgia, Crescent Mortgage Company, Atlanta, a CBA Endorsed Member Company, and Aaron Thomas, Vice President & Mortgage Compliance Manager, Renasant Bank, Birmingham, Alabama, a CBA associate member company.
Community bankers from across the state participated in the Inaugural Mortgage Lending School in Atlanta last week. This three-day comprehensive school focused on training for entry to junior-level residential mortgage lenders and covered all disciplines required of today’s community bank mortgage lenders to assist them in improving mortgage customer service, more efficient processing and servicing and stronger underwriting.
One of the highlights of the school and a great hands-on training experience was a visit to a residential construction site. This site visit allowed the bankers to learn what to look for as they evaluate the status of a home under construction relative to the construction loan draw schedule. The overall feedback from the participants was excellent. “The simple format, engaging discussions and real-life solutions and methodology is what helped me most in the school,” said Andrea DeSantiago, Colony Bank, Quitman. “Lots of great information for people starting out in Mortgage Lending and a great refresher for others,” said Julie Wilson, Capital Bank, Fort Oglethorpe.
The CBA appreciates the participation of the students and the expertise from David Kemp, President, Bankers Management, Inc., McDonough, Georgia, for his development and delivery of such a quality school. We also extend a big “thank you” to the other speakers: Ashli Matson, Vice President & Account Executive-Georgia, Crescent Mortgage Company, Atlanta, a CBA Endorsed Member Company, and Aaron Thomas, Vice President & Mortgage Compliance Manager, Renasant Bank, Birmingham, Alabama, a CBA associate member company.
Leadership Division Fundraises for Children’s Healthcare
Donate and win!
Every year, CBA’s Leadership Division Representatives (LDR) raise funds for Children's Healthcare. Since 1989, donations have totaled over $445,000. Funds are raised by either the LDRs' banks directly, community fundraising efforts or personal donations. Donations have benefited different areas of the Children's Healthcare Foundation (CHF) including student nursing programs, childhood cancer research, school health programs and many more all across Georgia. Currently, funds are helping Children’s Strong4Life, a program helping children and families be more active and lead healthier lifestyles. We have begun our 2016 Big Bucks Bonanza campaign. Would you like a chance to win $5,000? Just one $50 donation makes you eligible, so don’t miss out. The drawing will be held on Saturday, June 25, at Disney; you do not have to be present to win.
Please email Peake Wilson in the CBA office to learn more and to make your donation today!
You do not have to be a CBA LDR in order to participate in this fundraiser.
Donate and win!
Every year, CBA’s Leadership Division Representatives (LDR) raise funds for Children's Healthcare. Since 1989, donations have totaled over $445,000. Funds are raised by either the LDRs' banks directly, community fundraising efforts or personal donations. Donations have benefited different areas of the Children's Healthcare Foundation (CHF) including student nursing programs, childhood cancer research, school health programs and many more all across Georgia. Currently, funds are helping Children’s Strong4Life, a program helping children and families be more active and lead healthier lifestyles. We have begun our 2016 Big Bucks Bonanza campaign. Would you like a chance to win $5,000? Just one $50 donation makes you eligible, so don’t miss out. The drawing will be held on Saturday, June 25, at Disney; you do not have to be present to win.
Please email Peake Wilson in the CBA office to learn more and to make your donation today!
You do not have to be a CBA LDR in order to participate in this fundraiser.
CBA is going to Disney!
Mark your calendar and join us at CBA’s 38th Annual Leadership Division
Convention & Mini-Trade Show!
Learn more about this year’s destination with a little Disney Trivia!
Mark your calendar and join us at CBA’s 38th Annual Leadership Division
Convention & Mini-Trade Show!
Learn more about this year’s destination with a little Disney Trivia!
See Disney Fun Fact Answer Below!
|
Remember Your Passports for Bermuda!
We’re thrilled to be hosting the 48th Annual Meeting & Trade Show in Bermuda this July. As you know, you’ll need a current/updated passport to join us! We kindly encourage you to start the process today to avoid delays or last-minute mishaps. Click here to learn more. |
Congratulations to Richard Williams on Retirement!
CBA congratulates Richard Williams, Executive Vice President and CEO, Pineland State Bank, Metter, on his recent retirement. Williams began his 39 year banking career with Metter Banking Company and continued with Pineland State Bank, where he served as CEO since 2001.
CBA congratulates Richard Williams, Executive Vice President and CEO, Pineland State Bank, Metter, on his recent retirement. Williams began his 39 year banking career with Metter Banking Company and continued with Pineland State Bank, where he served as CEO since 2001.
Heritage Community Foundation Gives Back
The Heritage Community Foundation presented a grant to Helene Prokesch, Executive Director, and Jackelyn Lamb, leader of the Lekotek southside location, of Lekotek of Georgia, Inc. recently. The $1,800 grant will be used to purchase new technology which makes it possible for children who have difficulty using their hands to operate a computer by directing their eyes.
The Heritage Community Foundation presented a grant to Helene Prokesch, Executive Director, and Jackelyn Lamb, leader of the Lekotek southside location, of Lekotek of Georgia, Inc. recently. The $1,800 grant will be used to purchase new technology which makes it possible for children who have difficulty using their hands to operate a computer by directing their eyes.
The Heritage Community Foundation also presented a grant to Shane Persaud, Executive Director and Crystal Cohen, Program Manager, of Communities in Schools of Henry County (“CIS”). The $3,550 grant will be used to buy laptops, a printer, projector and binding machine. The mission of CIS is to surround students with a community of support, empowering them to stay in school and achieve in life.
Sympathies
Our condolences to the family of Mr. Ray Samuel Howe, who passed away recently. He was the father of Associate Member and longtime CBA supporter, Stan Howe of Howe Construction.
CBA sends condolences to the family, friends and colleagues of FDIC Atlanta Assistant Regional Director Frank Gray, who recently passed away.
Our condolences to the family of Mr. Ray Samuel Howe, who passed away recently. He was the father of Associate Member and longtime CBA supporter, Stan Howe of Howe Construction.
CBA sends condolences to the family, friends and colleagues of FDIC Atlanta Assistant Regional Director Frank Gray, who recently passed away.
|
Century Bank & Trust - Milledgeville
CBA member Derek Williams, President & CEO, Century Bank & Trust, Milledgeville, is on the cover of Independent Banker magazine as part of ICBA’s 2016-2017 leadership team. |
|
Heritage First Bank - Rome Shannon Smith has been named Senior Vice President. |
|
Southwest Georgia Bank - Moultrie Gina Wynn has been named Vice President and Auditor. |
|
Southwest Georgia Bank - Moultrie Bo Williams has been named Assistant Vice President. |
|
Queensborough National Bank & Trust - Louisville Sam Crossley has been named a financial advisor for the Savannah and Statesboro areas. |
|
Berman Fink Van Horn - Atlanta Lawrence Kasmen has joined the firm to handle the expanded commercial real estate practice. |
|
Colony Bank - Moultrie Ann Hoffman has been named Vice President, Consumer/Commercial Lender and Mortgage Loan Originator. |
|
Colony Bank - Albany Dawn Story has been named Banking Officer, Consumer and Small Business Lender. |
|
Colony Bank - Leesburg Briley Edwards has been named Vice President, Commercial Lender. |
|
Colony Bank - Valdosta Dana Williams has been named Mortgage Loan Originator. |
|
Georgia Primary Bank - Atlanta Allyn Harris has been named Credit Analyst and Banking Officer. |
Disney Fun Fact Answer: 27!
The CBA has been recognized on a national level for its invaluable educational programs and corporate events. The CBA has a variety of options for all positions in a community bank…from the teller line to the board room. We invite you to join us for one of the upcoming programs. For more options, Click here for the CBA Calendar. For assistance with Education Programs, contact Jodi Swilley. For assistance with Corporate Events, contact Peake Wilson.
|
April 2016
HMDA Tuesday, April 12 - Macon Compliance Program – Complying with the New Integrated Disclosures (TRID) Wednesday, April 13 – Macon Thursday, April 14 - Savannah Tuesday, April 19 - Tifton Wednesday, April 20 - Duluth Thursday, April 21 - Rome Branch Management Series (All series will be held at the JHTC at CBA Headquarters) Series IV: April 21 - Atlanta Watch for dates for Series I, II & III. Commercial Lending School Monday-Friday, April 25-29 - Atlanta 2016 Webinars Click here to view webinar listing and to register. 2016 On-Line Training Click here for on-line training with Bankers Edge (Bankers Edge is a CBA Endorsed Member Company) |
|
April & May 2016
Spring Regional Luncheon Meetings & PAC/PR Golf Tournaments Wednesday, April 13 – Hoschton Wednesday, April 20 - Albany 2nd Quarter Banker Regulatory Forum Thursday, May 5 - Atlanta |
|
We are community banking.
1900 The Exchange, Suite 600, Atlanta, GA 30339
Phone: (770) 541-4490 / (800) 648-8215 | Fax: (770) 541- 4496 • www.cbaofga.com
1900 The Exchange, Suite 600, Atlanta, GA 30339
Phone: (770) 541-4490 / (800) 648-8215 | Fax: (770) 541- 4496 • www.cbaofga.com
Upcoming Events
HMDA
April 12 - Macon
Compliance Program
April 13 – Macon
April 14 - Savannah
April 19 - Tifton
April 20 - Duluth
April 21 - Rome
Spring Regional Luncheon Meeting
April 13 – Hoschton
April 20 - Albany
HMDA
April 12 - Macon
Compliance Program
April 13 – Macon
April 14 - Savannah
April 19 - Tifton
April 20 - Duluth
April 21 - Rome
Spring Regional Luncheon Meeting
April 13 – Hoschton
April 20 - Albany
Connect with us on social media!
