Financial institutions today, Feb. 2008

Inside this issue:

Federal Financial

2

Regulatory Agencies

Encourage Servicers

To Report Loan

Modification Efforts

to HOPE NOW

Alliance

Senior Deputy

2

Commissioner

Reynolds Testifies

at Hearing on

Credit Union

Regulatory Relief

Reminder Notice to 2 All State-Chartered
Credit Unions

Action on

3

Applications for the

Month of February

DBF's Customer

7

Service Star for the

Month of February

News and topics of interest to financial institutions regulated by the Department of Banking and Finance

Monthly Bulletin #2

February 2008

Georgia Among the Best Managed States in the Nation

On March 3, 2008, the Pew Center on the States and Governing Magazine released a report ranking Georgia among the best managed states in the nation in the Grading the States 2008 report. Georgia's overall grade of B+ is the highest awarded to any state in the Southeast.
"We have made sensible, strategic reforms in Georgia to make government more efficient and more responsive to the needs of our citizens," said Governor Sonny Perdue. "As a result, Georgians are getting better value for their tax dollars and better service from their government, and we will continue to work to surpass every other state and become the best managed state in the nation." The 2008 report emphasized the value and impact of improvements made by the Governor's Commission for a New Georgia. One of the reforms recommended by the Commission for a New Georgia was to improve the customer service rendered to Georgia's citizens by state agencies. In 2006, Governor Perdue launched a first of its kind customer service improvement initiative led by the Governor's Office of Customer Service.
"By aggressively training employees, leveraging technology and monitoring outcomes, the state has driven down wait times at call centers and has shrunk the rate at which citizens just get tired and hang up," said the report. To read the entire report visit http://pewcenteronthestates.org/gpp.

10th Annual National Consumer Protection Week Promotes Financial Literacy as a Sound Investment
Federal, state, and local government agencies have joined national consumer advocacy organizations to launch the 10th annual National Consumer Protection Week (NCPW), March 2-8, 2008. NCPW highlights consumer education efforts in the fight against fraud in communities across the nation.
Consumers conduct some type of financial transaction requiring an educated decision every day: shopping for a mortgage or auto loan; understanding and reconciling credit card statements and telephone bills; choosing savings and retirement plans; comparing health insurance policies; understanding their credit report and how that affects their ability to get credit and at what cost; or simply deciding how to pay for a purchase. Education is the first line of defense for consumers to manage their money wisely and protect themselves from frauds or rip-offs.
Consumers can boost their financial IQ at consumer.gov/ncpw. Additionally, consumers can locate a variety of financial literacy information on the Department's website at www.dbf.georgia.gov/ dbfconsumer.

"Safeguarding Georgia's Financial Services"

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Federal Financial Regulatory Agencies Encourage Servicers To Report Loan Modification Efforts to HOPE NOW Alliance
The federal financial regulatory agencies are encouraging financial institutions and their affiliate servicers to utilize the HOPE NOW1 alliance loan modification reporting standards for subprime adjustable rate mortgages. The federal regulatory agencies have indicated support for the HOPE NOW alliance and other such initiatives that address the rising level of home foreclosures. A standard reporting format will help investors in securitization trusts, including financial institutions, to monitor foreclosure prevention efforts related to subprime mortgage loans. Consistent loan modification reporting will foster transparency in the securitization market and provide standardized data across the mortgage industry.
In a recent statement, FDIC Chairman Sheila Bair said that "Foreclosures remain unacceptably high, and the threat looms of a high volume of additional mortgage rate resets into next year. As detailed reporting information becomes available, I hope that we will see loan modifications that are long-term and sustainable. To work out of our current problems it is critical that borrowers have loans that they can afford to pay over the long term."
1 HOPE NOW is an alliance between counselors, mortgage market participants and mortgage servicers to create a unified, coordinated plan to reach and help as many homeowners as possible. The Department of the Treasury and the Department of Housing and Urban Development encouraged the formation of this alliance. HOPE NOW, and its latest report on loan modification activity, is on the web at www.hopenow.com.
Senior Deputy Commissioner Reynolds Testifies at Hearing on Credit Union Regulatory Relief
On March 6, 2008, Senior Deputy Commissioner George Reynolds testified before the House Financial Services Committee at a hearing to discuss the Credit Union Regulatory Improvements Act (CURIA), H.R. 1537, and regulatory relief for credit unions.
Mr. Reynolds, who currently serves as the NASCUS Chairman, discussed NASCUS' position on CURIA and regulatory relief priorities for state-chartered credit unions. He also highlighted regulatory reforms to strengthen the state system of credit union supervision and enhance the capabilities of state-chartered credit unions to meet the financial needs of their members.
Reynolds joined witnesses from the Credit Union National Association (CUNA), the National Association of Federal Credit Unions (NAFCU), the National Credit Union Administration (NCUA) and representatives from the banking industry. NASCUS testimony will be available shortly on the NASCUS website at www.nascus.org.
Reminder Notice to All State-Chartered Credit Unions
Newly elected or re-elected Directors and Committee members and newly elected/appointed Officers must submit a completed Confidential Report For Credit Union Officials to the Department. The form is available on our website at the following URL: http://dbf.georgia.gov/vgn/images/portal/cit_1210/48/39/67741372CU_Confidential.pdf
Within ten (10) days of the election of officials, credit unions are required to file with the Atlanta Regional Office of the National Credit Union Administration, a Report of Officials (NCUA 4501). (NOTE: The NCUA Report of Officials is not required to be filed with the Department.) The form is included in the call report package from NCUA and is also available at the NCUA's website: http://www.ncua.gov/GuidesManuals/roofficials/roofficials.html

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Action on Applications for the Month of February:
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 February 2008.

APPLICATIONS FOR NEW FINANCIAL INSTITUTION

FINANCIAL INSTITUTION Community First Bank of Georgia 924 Elbert Street Extension Elberton, GA 30635 Elbert County

CAPITALIZATION $ 12,000,000

APPROVAL Pending

BEGIN BUSINESS

Chattahoochee Bank of Georgia 643 E E Butler Parkway Gainesville, GA 30501 Hall County

$ 20,000,000

Pending

Milltown Banking Company 305 East Main Street Lakeland, GA 31635 Lanier County

$ 10,000,000

Pending

APPLICATIONS TO ESTABLISH A BRANCH OFFICE

FINANCIAL INSTITUTION Bank of North Georgia Alpharetta

BRANCH OFFICE Chamblee Dunwoody Branch Office 5506 Chamblee Dunwoody Road Atlanta, GA 30338 DeKalb County

APPROVAL 02-26-2008

Bank of North Georgia Alpharetta

Suwanee Branch Office 3640 Peachtree Parkway Suwanee, GA 30024 Forsyth County

12-17-2007

SunTrust Bank Atlanta

Indiatlantic Branch Office 500 N Miramar Avenue Indiatlantic, FL 32903 Brevard County

11-19-2007

SunTrust Bank Atlanta

100 M Street Branch Office 100 M Street SE Washington, DC 20003

02-18-2008

Mountain Heritage Bank Clayton

Dillard Branch Office 7199 North Highway 441 Dillard, GA 30537 Rabun County

02-19-2008

BEGIN BUSINESS 02-19-2008 02-04-2008

Page 4

FINANCIAL INSTITUTION Metro City Bank Doraville

BRANCH OFFICE Lawrenceville-Suwanee Road Branch Office 2790 Lawrenceville-Suwanee Road, Suite 105 Suwanee, GA 30024 Gwinnett County

APPROVAL 02-12-2008

Metro City Bank Doraville

Old Peachtree Road Branch Office 1291 Old Peachtree Road, Suite 190 Suwanee, GA 30024 Gwinnett County

Pending

Community First Bank of Georgia (IO) Elberton

Hartwell Branch Office 249 East Franklin Street Hartwell, GA 30643 Hart County

Pending

Central Bank of Georgia Ellaville

Downtown Macon Branch Office 652 Mulberry Street Macon, GA 31201 Bibb County

09-17-2007

Farmers and Merchants Bank Lakeland

Conyers Branch Office 2140-2144 Old Covington Road Conyers, GA 30013 Rockdale County

08-08-2007

Ameris Bank Moultrie

Dothan East Main Street Branch Office 2200 East Main Street Dothan, AL 36301 Houston County

02-18-2008

Ameris Bank Moultrie

Woodruff Road Branch Office 1614 Woodruff Road Greenville, SC 29607 Greenville County

02-29-2008

Ameris Bank Moultrie

Irmo Branch Office 1200 Lake Murray Boulevard Irmo, SC 29063 Lexington County

02-15-2008

Ameris Bank Moultrie

Lexington Branch Office 5175 Sunset Boulevard, Suite 3 Lexington, SC 29072 Lexington County

01-07-2008

Ameris Bank Moultrie

West Main Street Branch Office 707 West Main Street Lexington, SC 29072 Lexington County

02-15-2008

First Choice Community Bank 1874 Senoia

Sand Hill Branch Office 3956 Carrollton-Villa Rica Highway Carrollton, GA 30117 Carroll County

Pending

BEGIN BUSINESS
02-22-2008 02-25-2008
02-11-2008

APPLICATIONS TO CHANGE LOCATION

FINANCIAL INSTITUTION

CHANGE LOCATION OF

Appalachian Community Bank

Chatsworth Branch Office

Ellijay

From: 915 N. 3d Avenue

Chatsworth GA 30705

Murray County

To: 1006 Highway 76

Chatsworth GA 30705

Murray County

APPROVAL 01-10-2008

EFFECTIVE 02-04-2008

Page 5

PROPOSED NAME North Metro Bank

APPLICATIONS FOR RESERVATION OF A NAME

COUNTY Forsyth County

APPLICANT Mr. John B. Kline, President Kline & Associates P.O. Box 418 Decatur, GA 30031

FINANCIAL INSTITUTION (SURVIVOR) State Employees' Credit Union Atlanta, GA
United Community Bank Blairsville, GA
RBC Centura Bank Raleigh, NC
RBC Centura Bank Raleigh, NC

FINANCIAL INSTITUTION MERGERS

MERGED INSTITUTION Georgia DOT Credit Union Atlanta, GA
United Community Bank Murphy, NC
Georgia State Bank Mableton, GA
The Peachtree Bank Duluth, GA

APPROVAL Pending

EFFECTIVE

12-19-2007

02-01-2008

Pending

Pending

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

ACQUISITIONS ONLY
BANK HOLDING COMPANY RBC Centura Banks, Inc. Raleigh, NC

TO ACQUIRE The Peachtree Bank Duluth, GA

APPROVAL 02-06-2008

RBC Centura Banks, Inc. Raleigh, NC

Georgia State Bank Mableton, GA

02-06-2008

Page 6

CREDIT UNION Atlanta Postal Credit Union Atlanta

NOTIFICATION OF APPROVAL OF APPLICATION TO SERVE A RESIDENTIAL GROUP COMMON BOND

RESIDENTIAL GROUP COMMON BOND Bibb County, GA

APPROVAL 02-19-2008

CHECK CASHER LICENSES ISSUED

CITY Brookfield Macon Douglasville Albany Gainesville Dublin Dalton Marietta Augusta Cartersville Mableton Marietta Atlanta Albany Oakwood Dalton Atlanta Cochran East Point Morrow Pelham Gainesville Lithia Springs Buford Marietta

APPLICANT NAME * Ali, Viqar
Anjali Ventrues, Inc. * Anwar Sewani * Applejac, LLC
Arina Retail, Inc. * Bailey, Robert L. * C&C Carpets, Inc. * Cabanas Salvadorian Restaurant No. 2, Inc. * Cumbee, William C.
Escamilla, Inc. * Fareed Sevani
Fexom, LLC Khalia, Inc. * MNS, Inc. * Molino, Inc. * Morales Income Tax, Inc. * Newstart Trucking, Inc. * Shree Jala, LLC * Swchae, Inc. * Twiga Enterprises, Inc. Vaidehi Corporation Village Financial Service, LLC * Vishaal Management, Inc. * Wasifa Enterprises, Inc. Zahara Enterprises, Inc.

TRADE NAME Sunny Food Mart RK Foods Fairburn Food Store Ajax Liquors Tadmore Food Mart Robert Bailey R&R Quick Stop Cabanas Salvadorian Restaurant William Cumbee JJ's Liquor Store Floyd Road Shopette
Fairburn Food Mart Radium Springs Food Mart Molino Check Cashing Morales Income Tax Newstart Crossroad #3 Piggly Wiggly Southlake Chevron Quik Mart Huh's Check Cashing Mani's Food Mart
Zee Check Cashing

* =Registered Exempt (O.C.G.A. 7-1-709)

DBF's Customer Service Star for the Month of February

Page 7

It is the Department's goal to provide excellent customer service, meeting and exceeding the expectations of our customers. Along those lines, we would like to recognize the following individual for going above and beyond in serving our customers:
Irene Harper, Applications Analyst (NDFI--Main Office): The Department received comments regarding Irene from several different customers as part of our customer satisfaction surveys: One customer stated: "I have dealt with Irene Harper in licensing for a few clients and she is great, very friendly, responds right away to emails/voicemails, very pleasant to work with." Another customer stated: "Irene Harper was my representative, with her my process was smooth and easy. She called me and asked questions and also mailed things ASAP that I may have missed. The customer service was excellent." Another customer stated: "Irene Harper was my liaison and she was always responsive in a timely fashion as well as professional." Another customer stated: "I worked with Irene Harper. She was polite, and returned my calls promptly." And yet another customer stated: "Kind, friendly, quick, and to the point customer service. Always enjoyed speaking with Mrs. Harper."

CONGRATULATIONS AND GREAT JOB TO THIS MONTH'S CUSTOMER SERVICE STAR!!

GEORGIA
DEPARTMENT OF BANKING AND FINANCE
2990 Brandywine Road Suite 200
Atlanta, Georgia 30341-5565
Phone: (770) 986-1633 Fax: (770) 986-1654 or 1655 Email: dbfpress@dbf.state.ga.us

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The Department is the state agency that regulates and examines banks, credit unions, and trust companies chartered by the State of Georgia. The Department also has regulatory and/or licensing authority over mortgage brokers, lenders, and processors, money service businesses, international banking organizations, and bank holding companies conducting business in Georgia.
Our Mission is to promote safe, sound, competitive financial services in Georgia through innovative, responsive regulation and supervision.
Our Vision is to be the best financial services industry regulator in the country Progressive. Proactive. Service-Oriented.

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Visit our website at: dbf.georgia.gov

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This publication is delivered to interested parties via e-mail and is also available from the Department's website at: http://dbf.georgia.gov under Publications, Financial Institutions Bulletin. If you would like to be added to our distribution list, please send an e-mail to dbfpress@dbf.state.ga.us and indicate your name and the company or institution you are with.
"Safeguarding Georgia's Financial Services"