Inside this issue: Meet District 2 Director Melissa Sneed Georgia Residential 2 Mortgage Act (GRMA) - $6.50 Fee Reminder DBF Outreach and 2 Upcoming Speaking Engagements Main Office Staff 3 Participate in Community Service Project at the Atlanta Community Food Bank Action on 4 Applications for the Month of June DBF's Customer 9 Service Stars for the Month of June News and topics of interest to financial institutions regulated by the Department of Banking and Finance Monthly Bulletin #6 June 2008 Financial Institution Supervision Division Management Changes Grace Lurry Deputy Commissioner for Supervision Grace Lurry will retire effective September 1, 2008, after 34 years of faithful service to the Department. Grace has served as Deputy Commissioner for Supervision since July 1, 2003. Grace began her career with the Department in 1975 as an Assistant Financial Examiner. Prior to her appointment as a Deputy Commissioner, Grace served as the Director for Supervision, where she had administrative supervision over large institutions, special purpose institutions and troubled institutions. Prior to serving as Director for Supervision, she served as an Assistant Deputy Commissioner in the Department's administrative office. Grace has a BBA degree in Accounting from State University of West Georgia. She is a graduate of the Graduate School of Banking at Louisiana State University and is a Certified Examination Manager. Congratulations Grace! We wish you the best in your well-deserved retirement. With the announcement of Grace's retirement, Commissioner Braswell has appointed Kevin Hagler to the Deputy Commissioner for Supervision position. Kevin will begin his official transition to this Deputy position on August 1st, at which time he will work with Grace in the supervision of the Department's Financial Institution Supervision Program. Kevin began his career with the Department in 1997. He progressed through the examiner ranks and became a Supervisory Examiner in 2002 in District 1. In 2003, Kevin was appointed to the position of District Director in District 1, where he assumed field regulatory and supervisory responsibilities for the financial institutions in the District. Kevin Hagler Prior to joining the Department, Kevin started his career by working for Altus Bank before taking a position with The Bank of Mobile. In 1994, he moved to Atlanta to work for SunTrust Bank in the Factoring Division, and later worked in the In-Store Banking Division as an Assistant Manager. Kevin is a graduate of Auburn University with a degree in Finance and is a Certified Examination Manager. His knowledge, experience, and leadership skills are tremendous assets to the Department and will serve him well in his new position. "Safeguarding Georgia's Financial Services" Page 2 Meet District Director Melissa Sneed With Kevin Hagler's appointment to the Deputy Commissioner for Supervision position, Melissa Sneed has been selected to fill the District Director position for the Department's Northwest (District 1) Field Office. In her new position as District Director, Melissa will assume field regulatory and supervisory responsibilities for the financial institutions in the District. Melissa joined the Department in July of 1999 and rose quickly through the examiner ranks, becoming a Supervisory Examiner in 2005. Melissa is also the Trust Subject Matter Expert in District 1. Melissa Sneed Melissa graduated from University of Georgia in 1999 with a degree in Finance, Risk Management, and Insurance. She is also a Certified Examination Manager. Georgia Residential Mortgage Act (GRMA) - $6.50 Fee Reminder The $6.50 per loan fees required by O.C.G.A. Section 7-1-1011(b)(2) and Department Rule 80-5-1-.04 are due no later than September 2, 2008 for residential mortgage loans closed during the period January 1, 2008 through June 30, 2008. The $6.50 fee will be due if the loan is a residential mortgage loan as defined in the Georgia Residential Mortgage Act (GRMA), and if a security deed, a modification of a security deed or other form of modification of a security interest is recorded. Financial institutions and mortgage licensees and registrants who act as the collecting agent (including brokers who table fund and collect the fee) have been notified by e-mail regarding the $6.50 fee payment and information regarding accessing the online fee payment system. This e-mail is sent to the primary contact for the financial institution or mortgage licensee or registrant, according to the Department's records. Those owing fees may pay online from our secure website at: https://bkgfin.dbf.state.ga.us/GRMAFee.html Institutions that are not in our database and cannot access the online system will be able to download a form from the URL noted above. DBF Outreach AND UPCOMING SPEAKING ENGAGEMENTS Senior Deputy Commissioner George Reynolds will be addressing the GBA Credit Committee on July 23, 2008 at 10 am. He will also be attending the NASCUS State System Summit on August 21-23, 2008, in Seattle, Washington. The NASCUS State System Summit is a unique national forum where state regulators and credit unions work together to promote a strong and innovative state credit union system. Page 3 Main Office Staff Participate in Community Service Project at the Atlanta Community Food Bank On Saturday, June 14, 2008, staff from the Department's Main Office and their family members came together to donate their time and give back to the community by working a shift at the Atlanta Community Food Bank's Product Research Center (PRC). Constantly buzzing with activity, the PRC provides quality food, beverages, and health products to over 800 non-profit partner agencies in Metro Atlanta and the North Georgia area. These partner agencies, in turn, distribute these products to individuals and families in need. Volunteers make this possible by sorting, inspecting and packing donated items for these groups. This area of operation is crucial to the Food Bank as it ensures that salvage and food drive donations will be safe and wholesome for distribution to people in need. The PRC provides great hands-on experience and a great opportunity to give back to the community! Pictured to the right are the participants of the PRC community service project. Founded in 1979, the Atlanta Community Food Bank currently distributes almost 2 million pounds of food and other donated grocery items monthly to more than 800 nonprofit partner agencies in 38 counties in Metro Atlanta and North Georgia. Distributing these donations to low-income Georgians, partner agencies provide dynamic links between the local community, the Food Bank and its supporters. Page 4 Action on Applications for the Month of June: 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 June 2008. FINANCIAL INSTITUTION Resurgens Bank 2300 Henderson Mill Road Atlanta, GA 30345 DeKalb County APPLICATIONS FOR NEW FINANCIAL INSTITUTION CAPITALIZATION $ 12,350,000 APPROVAL 01-25-2008 BEGIN BUSINESS 06-09-2008 FINANCIAL INSTITUTION Montgomery Bank & Trust Ailey SunTrust Bank Atlanta SunTrust Bank Atlanta SunTrust Bank Atlanta SunTrust Bank Atlanta Metro City Bank Doraville Pinnacle Bank Elberton APPLICATIONS TO ESTABLISH A BRANCH OFFICE BRANCH OFFICE Kingsland Branch Office 102 Marsh Harbour Parkway Suite 109 Kingsland, GA 31548 Camden County APPROVAL 10-23-2007 Hancock Commons Branch Office 2615 E Highway 50 Clermont, FL 34711 Lake County 12-26-2007 Southpoint Branch Office 10000 Southpoint Parkway Fredericksburg, VA 22407 Spotsylvania County 01-07-2008 Innovation Bristow Branch Office 9933 Sowder Village Square Manassas, VA 20110 Manassas County 05-15-2008 MLK Pine Hills Branch Office 1620 Martin Luther King Jr Boulevard Suite 112 Raleigh, NC 26510-3479 Wake County 06-23-2008 Old Peachtree Road Branch Office 1291 Old Peachtree Road, Suite 190 Suwanee, GA 30024 Gwinnett County Withdrawn 06-04-2008 Commerce Branch Office 1871 North Elm Street Commerce, GA 30529 Jackson County Pending BEGIN BUSINESS 05-16-2008 06-16-2008 06-02-2008 06-30-2008 FINANCIAL INSTITUTION The Heritage Bank Hinesville WestSide Bank Hiram Ameris Bank Moultrie Ameris Bank Moultrie The Peoples Bank Winder The Peoples Bank Winder The Peoples Bank Winder The Peoples Bank Winder The Peoples Bank Winder The Peoples Bank Winder The Peoples Bank Winder The Peoples Bank Winder BRANCH OFFICE Nahunta Branch Office 113 East Cleveland Street Nahunta, GA 31553 Brantley County Mableton Branch Office 4875 Floyd Road SW Mableton, GA 30126 Cobb County Laurens Road Branch Office 109 Laurens Road Greenville, SC 29607 Greenville County Woodruff Road Branch Office 1614 Woodruff Road Greenville, SC 29607 Greenville County Chamblee Branch Office 3245 Chamblee Dunwoody Road Suite 105 Atlanta, GA 30341 DeKalb County Forest Park Branch Office 4140 Jonesboro Road, Suite D-2 Forest Park, GA 30297 Clayton County Gainesville Branch Office 702 SW Atlanta Highway, Suite 200 Gainesville, GA 30501 Hall County Jonesboro Branch Office 6592 Tara Boulevard, Suite 6612 Jonesboro, GA 30236 Clayton County Lawrenceville Branch Office 455 Grayson Highway SW, Suite 102 Lawrenceville, GA 30045 Gwinnett County Lilburn Branch Office 4271 US Highway 29, Suite C Lilburn, GA 30047 Gwinnett County Marietta Branch Office 12 Cobb Parkway South Marietta, GA 30060 Cobb County Norcross Branch Office 5386 Jimmy Carter Boulevard Norcross, GA 30093 Gwinnett County APPROVAL 06-09-2008 Page 5 BEGIN BUSINESS 06-17-2008 05-19-2008 06-30-2008 02-29-2008 06-30-2008 05-02-2008 05-20-2008 05-02-2008 05-21-2008 05-02-2008 05-22-2008 05-02-2008 05-21-2008 05-02-2008 05-19-2008 05-02-2008 05-22-2008 05-02-2008 05-22-2008 05-02-2008 05-19-2008 Page 6 FINANCIAL INSTITUTION The Peoples Bank Winder The Peoples Bank Winder FINANCIAL INSTITUTION SunTrust Bank Atlanta Citizens State Bank Kingsland The Park Avenue Bank Valdosta PROPOSED NAME Fulton Credit Union BRANCH OFFICE Roswell Branch Office 10485 Alpharetta Street Roswell, GA 30075 Fulton County Smyrna Branch Office 2552 South Cobb Drive, Suite I Smyrna, GA 30080 Cobb County APPROVAL 05-02-2008 BEGIN BUSINESS 05-20-2008 05-02-2008 05-21-2008 APPLICATIONS TO CHANGE LOCATION From: To: CHANGE LOCATION OF Penn Mar Branch Office 3300 Donnell Drive Forestville MD 20747 Prince George's County 3550 Donnell Drive Forestville MD 20747 Prince George's County From: To: Centre Street Branch Office 402 Centre Street Fernandina Beach FL 32034 Nassau County 715 Centre Street Fernandina Beach FL 32034 Nassau County From: To: Stockbridge Branch Office 500 Eagles Landing Parkway Stockbridge GA 30281 Henry County 1040 Eagles Landing Parkway Stockbridge GA 30281 Henry County APPROVAL 06-16-2008 06-13-2008 12-03-2007 EFFECTIVE 06-02-2008 APPLICATIONS FOR RESERVATION OF A NAME COUNTY Fulton County APPLICANT Mr. Stephen P. Smith President Fulton Teachers Credit Union 3604 Atlanta Avenue Hapeville, GA 30354 FINANCIAL INSTITUTION (SURVIVOR) SunTrust Bank Atlanta, GA SunTrust Bank Atlanta, GA SunTrust Bank Atlanta, GA SunTrust Bank Atlanta, GA SunTrust Bank Atlanta, GA SunTrust Bank Atlanta, GA SunTrust Bank Atlanta, GA Colony Bank of Fitzgerald Fitzgerald, GA Colony Bank of Fitzgerald Fitzgerald, GA Colony Bank of Fitzgerald Fitzgerald, GA Colony Bank of Fitzgerald Fitzgerald, GA Colony Bank of Fitzgerald Fitzgerald, GA Colony Bank of Fitzgerald Fitzgerald, GA Colony Bank of Fitzgerald Fitzgerald, GA FINANCIAL INSTITUTION MERGERS MERGED INSTITUTION First National Bank of the South Milledgeville, GA Mountain State Bank Dawsonville, GA First National Bank of Gwinnett Duluth, GA Gainesville Bank & Trust Gainesville, GA HomeTown Bank of Villa Rica Villa Rica, GA Community Trust Bank Hiram, GA United Bank & Trust Company Rockmart, GA Colony Bank Ashburn Ashburn, GA Colony Bank Southeast Broxton, GA Colony Bank of Dodge County Eastman, GA Colony Bank Quitman, FSB Quitman, GA Colony Bank Wilcox Rochelle, GA Colony Bank Worth Sylvester, GA Colony Management Services, Inc. Fitzgerald, GA Page 7 APPROVAL Pending EFFECTIVE Pending Pending Pending Pending Pending Pending Pending Pending Pending Pending Pending Pending Pending FORMATIONS ONLY BANK HOLDING COMPANY Verity Capital Group, Inc. Dahlonega, GA High Trust Bancorp, Inc. Stockbridge, GA APPLICATIONS TO BECOME A BANK HOLDING COMPANY AND/OR TO ACQUIRE VOTING STOCK OF A FINANCIAL INSTITUTION TO ACQUIRE Verity Bank (IO) Winder, GA High Trust Bank Stockbridge, GA APPROVAL DATE 06-26-2008 06-06-2008 Page 8 CREDIT UNION Three Rivers Credit Union Bainbridge Members United Credit Union Columbus LGE Community Credit Union Marietta Emory Alliance Credit Union Decatur NOTIFICATION OF APPROVAL OF APPLICATION TO SERVE A RESIDENTIAL GROUP COMMON BOND RESIDENTIAL GROUP COMMON BOND Decatur County, GA APPROVAL DATE 06-09-2008 Muscogee County, GA 06-09-2008 Cobb County, GA 06-10-2008 DeKalb County, GA 06-10-2008 CHECK CASHER LICENSES ISSUED CITY Marietta Savanah Greenville Lawrenceville Chamblee Duluth Albany Covington Uvalda Dalton Perry Lyons Tucker Atlanta Americus Pelham Knoxville Tifton McDonough Lithia Springs Oxford Chatsworth Valdosta Warner Robins Baxley APPLICANT NAME All Pro Financial Services of Marietta LLC Arafat Afaneh BI-LO, LLC * Bakkos, LLC * Bluewaters Enterprises, Inc. Financial Services, LLC * George Brown * Hee Sook Kim * Jay-Mahi, Inc. * Julia Roman Kemin Enterprises, Inc. * Lyons Finance LLC My Jaz Incorporated New Koreana Restaurant, Inc. Om Jaden Investments, Inc. * Pelham Enterprises, Inc. Pilot Travel Centers, LLC * Ramesh R. Amin * Royale Investment, Inc. Save Way 1, Inc. * Shah USA, Inc. * Shree Pragji, Inc. * Shreeji Foods, LLC Swami One, Inc. * Swift Shops Inc. of Baxley, Inc. TRADE NAME All Pro Financial Services of Marietta Bill Payment Center BI-LO Duluth Highway Shell AM PM National Package Store Johnson's Supermarket Uvalda Foods Costa Del Sol Marathon of Perry Lyons Finance D&M Package Store Corner Shop Village Pantry Pilot Travel Center J. R. Food Liberty Chevron Shell Food Mart Country Junction Vasu Discount Beverage Davis Food Mart Dwain's IGA * =Registered Exempt (O.C.G.A. 7-1-709) MONEY TRANSMITTER Currencies Direct (America) Inc. Wilmington, DE MONEY TRANSMITTER LICENSES ISSUED APPROVAL DATE 06-24-2008 DBF's Customer Service Stars for the Month of June Page 9 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 individuals for going above and beyond in serving our customers: Consumer Affairs Specialist Mark Simpson (LCA Division): The Department recently received a letter from a customer regarding the exceptional customer service she received from Mark during the handling of her complaint. Mark was also cited as a Customer Service "Hero" by the Governor's Office of Customer Service and the letter below was highlighted on the State's Team Georgia Customer Service webpage: "My family and I would like to thank Mr. Mark Simpson for helping us negotiate a loan modification with the company that serviced my father's mortgage. Prior to contacting Mr. Simpson, my father was in a forbearance arrangement with the mortgage holder. Prior to the expiration of that arrangement, a company representative told me she would fax the paperwork for a loan modification, but she never did. Our payments were rejected, and numerous attempts to reach the company were unsuccessful. The company began foreclosure proceedings. I contacted the Georgia Department of Banking and Finance. We were so thankful that we were assigned to Mr. Simpson. He was compassionate, attentive, swift about returning phone calls, and he walked me through the entire loan modification process. And, what I was most touched by was that even though I was handling this matter for my father, Mr. Simpson always honored my father by including him in the process. I am certain that without Mr. Simpson's help, my father would have lost his home, and we would not have been able to negotiate a loan modification with the mortgage holder. Mr. Simpson was indeed the voice of reason and direction during a very distressing time." Irene Harper, Applications Analyst (NDFI--Main Office): The Department received comments regarding Irene from two different customers. One customer stated: " Dear Mrs. Harper, I just received my license and I wanted to thank you for all of your assistance in the application review and analysis process. When my fingerprint cards wouldn't scan, you let me know immediately and provided new cards in a very timely manner. Your personal attention to my application, your knowledge and your ability to answer my questions are all very much appreciated." Another customer stated: "Mrs. Harper, I want to say thank you for all your help. I really appreciate your excellent service. I will always remember your help. You really made the process a pleasure. This wonderful experience will go a long way with me." Harold Carney, Senior Financial Examiner (District 2): The Department received a letter from the Conference of State Bank Supervisors stating: "Thank you very much for allowing Harold Carney to participate in the recent interagency ALERT Modernization stakeholders meeting. Harold's involvement in this interagency project is invaluable as he brings strong user knowledge to the process. He participated in the discussions and was not shy to ensure that state examiner needs are part of the process. I look forward to working with Harold on the ALERT Modernization project going forward." CONGRATULATIONS AND GREAT JOB TO THIS MONTH'S CUSTOMER SERVICE STARS!! 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 Page 10 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. We're on the Web! Visit our website at: dbf.georgia.gov Sign-up to Receive this Publication: 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, e-mail address, and the publication you wish to subscribe to. "Safeguarding Georgia's Financial Services"