Department of Banking and Finance bulletin, Dec. 31, 2002

. . . .BULLETIN. . . .BULLETIN. . . .BULLETIN. . . .BULLETIN. . . .

STATE OF GEORGIA
DEPARTMENT OF BANKING AND FINANCE
2990 Brandywine Road, Suite 200 Atlanta, Georgia 30341-5565
DAVID G. SORRELL, ACTING COMMISSIONER

Phone: (770) 986-1633

Fax: (770) 986-1655

Internet Address: http://www.gadbf.org/
December 31, 2002 The following is a summary of official action taken on applications by State Financial Institutions under Chapter 7-1 of the Code of Georgia and petitions for Certificate of Incorporation of Financial Institutions and other matters of interest during the month of December 2002.

NOTICES:
Compliance with USA Patriot Act of 2001 and the Requirements of the Office of Foreign Assets Control (OFAC)
2003 Holiday Schedule

APPLICATIONS FOR NEW FINANCIAL INSTITUTION

FINANCIAL INSTITUTION Georgia Commerce Bank

BEGIN BUSINESS

CAPITALIZATION APPROVAL DATE

DATE

$ 10,000,000

12-09-2002

3625 Cumberland Boulevard

Atlanta, GA 30339

Cobb County

Mountain State Bank NW corner of 400 Center Drive & Dawson 400 Circle Dawsonville, GA 30534 Dawson County

$ 8,750,000

12-09-2002

American Trust Bank 880 Holcomb Bridge Road, Building C Roswell, GA 30076 Fulton County

$ 8,500,000

Pending

APPLICATIONS FOR DISSOLUTION

FINANCIAL INSTITUTION AmTrade International Bank of Georgia

APPROVAL DATE Bank is in Receivership

Atlanta, GA

Click here for further information

EFFECTIVE DATE

APPLICATIONS TO ESTABLISH A BRANCH OFFICE

FINANCIAL INSTITUTION Capitol City Bank & Trust Company

BRANCH OFFICE Savannah Branch Office

APPROVAL DATE
12-10-2002

BEGIN BUSINESS
DATE

Atlanta

339 Martin Luther King Boulevard

Savannah, GA 31401

Chatham County

SunTrust Bank Atlanta

Eustis Village Branch Office 15375 US Highway 441 Eustis, FL 32726 Lake County

Pending

SunTrust Bank Atlanta
FINANCIAL INSTITUTION SunTrust Bank Atlanta
Dalton Whitfield Bank Dalton
Mountain State Bank Dawsonville
Horizon Bank Decatur
First Georgia Community Bank Jackson
Northeast Georgia Bank Lavonia

Killian Hill Marketplace Publix In-Store Branch Office 4051 St. Mountain Highway South Lilburn, GA 30047 Gwinnett County
BRANCH OFFICE Hillsborough Square Branch Office 6704 Memorial Highway Tampa, FL 33615 Hillsborough County

12-12-2002

APPROVAL DATE
Pending

BEGIN BUSINESS
DATE

Catoosa County Branch Office 35 Poplar Springs Road Ringgold, GA 30736 Catoosa County

12-03-2002

Cumming Branch Office SW Corner of Bethelview Road & Ga. 9 Cumming, GA 30040 Forsyth County

12-09-2002

Sugarloaf Parkway Branch Office 6340 Sugarloaf Parkway Duluth, GA 30097 Gwinnett County

12-23-2002

Locust Grove Ingles Branch Office 4920 Bill Gardner Parkway Locust Grove, GA 30248 Henry County

12-23-2002

Hartwell Wal-Mart Branch Office 1421 East Franklin Street Hartwell, GA 30643 Hart County

12-27-2002

Georgia State Bank Mableton
Georgia State Bank Mableton

Acworth Branch Office 3130 North Cobb Parkway Acworth, GA 30101 Cobb County
Austell-Powder Springs Road Branch Office 5000 Austell-Powder Springs Road Austell, GA 30106 Cobb County

FINANCIAL INSTITUTION Security Bank of Bibb County
Macon

BRANCH OFFICE Brunswick Branch Office 103 Scranton Connector Brunswick, GA 31525 Glynn County

Southern Heritage Bank Oakwood

Friendship Road Branch Office 4977 Friendship Road Suite 113 Buford, GA 30518 Hall County

Farmers and Merchants Community Bank
Senoia

Newnan Branch Office
16 East Broad Street Newnan, GA 30263 Coweta County

FLAG Bank Atlanta

Norcross Branch Office (El Banco de Nuestra Comunidad) 5386 Jimmy Carter Boulevard
Norcross, GA 30093
Gwinnett County

The Peoples Bank Winder

Chateau Elan Branch Office 2085 Highway 211, NW Braselton, GA 30517 Barrow County

03-12-2002 12-30-2002

08-02-2002 12-30-2002

APPROVAL DATE
12-02-2002

BEGIN BUSINESS
DATE

05-30-2002 12-02-2002

07-02-2002 12-16-2002 12-05-2002 12-30-2002 12-27-2002

APPLICATIONS TO CHANGE LOCATION

FINANCIAL INSTITUTION Bank of Ellaville Ellaville

CHANGE LOCATION OF Butler Office (Central Bank, a division of Bank of Ellaville)

APPROVAL EFFECTIVE

DATE

DATE

12-31-2002

From: 108 South Broad Street

Butler GA 31006 Taylor County To: 97 South Broad Street Butler GA 31006 Taylor County

FLAG Bank Vienna

Main Office From: 100 Union Street
Vienna GA 31092 Dooly County To: 3475 Piedmont Road, Suite 550 Atlanta GA 30305 Fulton County

12-05-2002 12-30-2002

FINANCIAL INSTITUTION MERGERS

FINANCIAL INSTITUTION (SURVIVOR) Citizens Trust Bank Atlanta
First-Citizens Bank and Trust Company of South Carolina Columbia, SC
First-Citizens Bank and Trust Company of South Carolina Columbia, SC
Main Street Bank Covington
Dalton Whitfield Bank Dalton
Western Union Bank Greenwood Village, CO
First Bank of the South Lawrenceville

MERGED INSTITUTION Citizens Federal Savings Bank
Birmingham, AL

APPROVAL EFFECTIVE

DATE

DATE

Pending

First Bank and Trust Carnesville

Pending

The Bank of Toccoa Toccoa

Pending

First National Bank of Johns Creek 12-09-2002 Suwanee

12-11-2002

Premier National Bank of Dalton Dalton

Pending

First Financial Bank Atlanta

12-27-2002 12-31-2002

Embry Bank Lawrenceville

11-13-2002 12-06-2002

APPLICATIONS TO BECOME A BANK HOLDING COMPANY AND/OR TO ACQUIRE VOTING STOCK OF A FINANCIAL INSTITUTION

BANK HOLDING COMPANY

TO ACQUIRE

APPROVAL DATE

FORMATIONS Buford Banking Group, Inc. Buford, GA

Lanier Community Bank (in organization) Buford, GA

Pending

First Commerce Community Bankshares, Inc. First Commerce Community Bank (in organization)

Douglasville, GA

Douglasville, GA

Pending

Pinnacle S-Corp, Inc. Elberton, GA

Pinnacle Bank Elberton, GA

12-05-2002

Neighbors Bancshares, Inc. Roswell, GA

Neighbors Bank (in organization) Roswell, GA

12-16-2002

Community Bancshares of West Georgia, Inc. Villa Rica, GA

Community Bank of West Georgia (in organization)
Villa Rica, GA

Pending

ACQUISITIONS Synovus Financial Corp. Columbus, GA

First Nation Bank Covington, GA

CITY Moultrie Senoia Atlanta Coolidge Moultrie

CHECK CASHER LICENSES ISSUED

APPLICANT NAME Anand Investment, Inc. Crook's, Inc. Kim, Ye K Nikul Associates, Inc. Tommy's Package, Inc.

TRADE NAME Quick Mart #30 Crook's Marketplace G&V Supermarket Coolidge Food Champ Tommy's Package, Inc.

12-16-2002

NOTICES
Compliance with USA Patriot Act of 2001 and the Requirements of the Office of

Foreign Assets Control (OFAC)
The Department has been reviewing financial institution policies, procedures and practices to make certain that adequate provisions have been made to comply with the USA Patriot Act and related OFAC provisions.
It has been noted in a number of financial institutions that provisions in these areas are in need of improvement. A number of the concerns noted include the following:
The lack of a designated compliance officer for OFAC/ Patriot Act Compliance. The lack of written policies and procedures in this area. The lack of adequate controls to identify, limit and/or prohibit the financial institution's involvement in transactions with "Specially Designated Nationals" (SDN's) including "Specially Designated Global Terrorists" ( SDGT's). Financial institutions have responsibilities for performing these reviews on current customers and when new accounts are being opened at their financial institution. Inadequate employee training regarding OFAC/ Patriot Act Requirements. A lack of an independent audit function for compliance with this program.
Financial institutions should review their policies and procedures to make certain that they have established proper provisions to assure compliance with these provisions. The penalties for noncompliance are severe, therefore it is vital that adequate policies and procedures be established and followed. If there are any questions regarding these issues, please contact Deputy Commissioner for Supervision George A. Reynolds at (770) 986-1629.
2003 Holiday Schedule
In accordance with O.C.G.A. 1-4-1, Governor Roy E. Barnes has proclaimed the following dates as public and legal holidays for the year 2003. Financial Institutions may observe both the official observance day as well as alternative observances indicated. In addition to these designated dates, financial institutions may close on Sunday and one discretionary day each week. If the discretionary day observed is changed permanently or temporarily, customer notice must be posted at least 30 days in advance.
2003

New Year's Day Martin Luther King, Jr.'s Birthday
(Will be observed)
Robert E. Lee's Birthday (Will be observed)
Washington's Birthday (Will be observed)
Confederate Memorial Day (Will be observed)
Memorial Day Independence Day Labor Day Columbus Day Veterans' Day Thanksgiving Day (Alternate observance of Lee's Birthday) Christmas Day (Alternate observance of Washington's Birthday)

Wednesday, January 1 Wednesday, January 15
Monday, January 20
Sunday, January 19
Friday, November 28
Saturday, February 22
Friday, December 26
Saturday, April 26
Monday, April 28
Monday, May 26 Friday, July 4 Monday, September 1 Monday, October 13 Tuesday, November 11 Thursday, November 27 Friday, November 28 Thursday, December 25 Friday, December 26

EMERGENCY CLOSINGS
As the winter months approach, all financial institutions are reminded that current regulations (specifically Rule 80-5-2-.02) provide for management to exercise its own discretion, with notification to the Department, in closing any institution for one business day (renewal for successive days) upon its determination that the safety of customers, employees or assets would be in jeopardy due to civil disorder, fire, acts of God, or utility failure or similar circumstances which render the institution unable to conduct business in a safe and sound manner. Such closings should be communicated to the Department by telephone, mail or fax as soon as transmission is feasible.
Back to top