Financial institutions today, 2009-06

Inside this issue:

Non-Depository

2

Financial Institutions

Division Management

Changes

DBF Outreach and

2

Upcoming Speaking

Engagements

Georgia Residential

3

Mortgage Act - $6.50

Fee Reminder

Agencies Issue

3

Frequently Asked

Questions on

Identity Theft Rules

DBF Recognizes

4

2008 Employee

Award Winners

Action on

6

Applications for the

Month of June

DBF's Customer

9

Service Star 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 2009

Financial Institution Supervision Division Management Changes

After 30 years of service, Jane Stage is retiring from the Department as of October 1. 2009. Although Jane is retiring October 1st, her last day in the district office was July 1st. Jane has served as District Director of the Southeast District since September 1, 2003.

Jane began her career with the Department in 1980 as an Assistant Financial Examiner. Prior to her appointment as District Director of the Southeast District she was a Supervisory Examiner in the same district.

Jane Stage

Jane has an Associates degree in Accounting from Abraham Baldwin College and a BBA in accounting from the University of Georgia. She is

a graduate of the Graduate School of Banking at Colorado and is a Certified Examination Manager.

Congratulations Jane! We wish you the best in your well-deserved retirement.

With the announcement of Jane Stage's retirement, Commissioner Braswell has appointed Virginia Riddick to fill the District Director position for the Department's Southeast District (District 5) Field Office. In her new position as District Director, Ginny will assume field regulatory and supervisory responsibilities for the financial institutions in the District.
Ginny joined the Department in November of 1995 and became a Supervisory Examiner in 2005. She is also the Trust Subject Matter Expert in District 5.
Ginny is a 1995 graduate of Valdosta State University with a BBA in Accounting. She is also a Certified Examiner-In-Charge.

Ginny Riddick

"Safeguarding Georgia's Financial Services"

Page 2

Non-Depository Financial Institutions Division Management Changes

Director of Money Service Businesses and Mortgage Licensing Melinda Kinard retired effective July 1, 2009, after 34 years of faithful service to the Department.

Melinda has worn many hats during her career with the Department. She began her career as an Assistant Financial Examiner. She later became the Director of Training and then became the Director of Information Technology prior to moving over to the Non-Depository Financial Institutions Division in 2002 where she was appointed to her current position.

Melinda also served on the curricula committees and as an instructor for various Conference of State

Bank Supervisors (CSBS) schools including the Bank Financial Analysis, Credit, IT, and beginning

Melinda Kinard

examiner schools. She also served on CSBS committees as a Subject Matter Expert, served on the Education Foundation of State Bank Supervisors Certification Committee and chaired the IT

Committee. In addition to serving as an instructor for CSBS, Melinda also served as an instructor for IT courses offered through the

Federal Reserve Bank of Atlanta and for miscellaneous courses offered by the Georgia Bankers Association.

Melinda has a BBA degree in Management from Georgia Southern University. She is also a Certified Examination Manager. Congratulations Melinda! We wish you the best in your well-deserved retirement.

With the announcement of Melinda's retirement, the Department made the decision to reorganize the Non-Depository Financial Institutions Division in light of the changes occurring in the mortgage industry and the implementation of the Nationwide Mortgage Licensing System.

The Director of Money Service Businesses and Mortgage Licensing position will be redirected effective with Melinda's retirement and her job duties spread among various other positions. Janet Anderson, the newly appointed Supervisory Manager for Mortgage Licensing, will take over Melinda's duties in regards to mortgage licensing. The overall supervision of the Money Service Businesses Section will be transferred to Deputy Commissioner Rod Carnes.

DBF Outreach AND UPCOMING SPEAKING ENGAGEMENTS
Deputy Commissioner for Non-Depository Financial Institutions Rod Carnes will be speaking to the Georgia Real Estate Closing Attorney's Association on July 8th at the Ravinia Club, Two Ravinia Drive, Suite 100, Atlanta, GA 30346.
Supervisory Manager Mike Killeen will be serving as an instructor at the Credit Union Executives Society Business Lending School at the Sheraton Suites Galleria Atlanta, Georgia on July 23rd.

Page 3
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, 2009 for residential mortgage loans closed during the period January 1, 2009 through June 30, 2009. 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.
Agencies Issue Frequently Asked Questions on Identity Theft Rules
On June 11, 2009, six federal agencies issued a set of frequently asked questions (FAQs) to help financial institutions, creditors, users of consumer reports, and issuers of credit cards and debit cards comply with federal regulations on identity theft and discrepancies in changes of address.
On November 9, 2007, the "Red Flags and Address Discrepancy Rules," which implement sections of the Fair and Accurate Credit Transactions Act of 2003, were issued jointly by the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, Office of the Comptroller of the Currency, Office of Thrift Supervision, and Federal Trade Commission. The rules require financial institutions and creditors to develop and implement written Identity Theft Prevention Programs and require issuers of credit cards and debit cards to assess the validity of notifications of changes of address.
The agencies' staffs have jointly developed answers to these FAQs to provide guidance on numerous aspects of the rules, including which types of entities and accounts are covered; establishment and administration of an Identity Theft Prevention Program; address validation requirements applicable to card issuers; and the obligations of users of consumer reports upon receiving a notice of address discrepancy.
The FAQs can be accessed from the FDIC's website at: http://www.fdic.gov/news/news/press/2009/pr09088a.pdf

Page 4
DBF Recognizes 2008 Employee Award Winners
During meetings and other events held around the state between May and June, the Department recognized winners of its 2008 Employee Recognition Awards. This annual awards process formally recognizes outstanding employee performance during the previous calendar year. Awards presented this year were in three categories, including:
"Jenny Neville" Customer Service Award; Leadership Award; and Gold Medal Awards
"I think it's essential that we reward and celebrate outstanding performance. The annual awards program is just one of several ways in which we try to showcase excellent service and leadership skills," said Commissioner Rob Braswell.
The "Jenny Neville" Customer Service Award was presented to Training Manager Vicki Brantley. This award is presented to an individual that has made exceptional contributions that exceeded expectations in delivering services to external and/or internal customers. This individual has taken initiative in "going the extra mile" to provide service to internal and/or external customers with timely and appropriate follow-up, responsiveness to the needs of all customers and demonstrated improvement of customer service and satisfaction.

Vicki Brantley

The Leadership Award was presented to Deputy Commissioner for Supervision Kevin Hagler. This award is presented to an individual that has exemplified and promoted outstanding leadership qualities and behaviors. This individual is blazing a trail for others to follow and demonstrates the following leadership qualities:
Motivates and brings about enthusiasm in others. Demonstrates a high ethical standard. Brings new ideas to the workplace. Appreciates differences and respects others. Embraces responsibility and demonstrates initiative.

Kevin Hagler

Several Gold Medal Awards were presented, as noted on the following page. Individuals are selected each year from a list of nominees for their division or work area. This award is given to individuals who demonstrate one or more of the following criteria:
Overall performance has consistently reflected a high level of service, trustworthiness, and respect. Has demonstrated a consistent commitment to delivering products, services and/or information that satisfies customers by
exceeding their requirements or expectations. Works effectively as part of a team to successfully accomplish a task or meet a goal. Creates a team environment that promotes communication, trust, cooperation and respect for differences. Contributes to a group effort which has a significant impact on Department goals. Accepts responsibility and accountability in helping to advance the Department's mission, vision or goals.

DBF Recognizes 2008 Employee Award Winners (continued)

Page 5

Felicia Hedgebeth Network and Information
Security Administrator

Larry Shelley Supervisory Manager Mortgage Regulation

Daisy Mitchell Supervisory Examiner -
District 1

Heather Sartain District Director -
District 2

Dennis McNeer Supervisory Examiner -
District 3

David Widincamp Supervisory Examiner -
District 4

James Johnson Financial Examiner -
District 5

Susan Andrews Senior Financial Examiner -
District 8

Page 6

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 2009.

FINANCIAL INSTITUTION First Milton Bank
13941 Cumming Highway
Milton, GA 30004 Fulton County

APPLICATIONS FOR NEW FINANCIAL INSTITUTION

CAPITALIZATION $ 16,250,000

APPROVAL 11-26-2007

BEGIN BUSINESS Withdrawn
06-22-2009

PREVIOUS NAME Columbus Bank and Trust Company

FINANCIAL INSTITUTION CONVERSIONS

CONVERTED TO
CB&T, N.A. Columbus
Muscogee County

APPROVAL Pending

EFFECTIVE

FINANCIAL INSTITUTION AFB&T Athens
SunTrust Bank Atlanta
Metro Bank Douglasville
Ameris Bank Moultrie

APPLICATIONS TO ESTABLISH A BRANCH OFFICE

BRANCH OFFICE Augusta Downtown Branch Office 1301 Broad Street Augusta, GA 30901 Richmond County

APPROVAL 06-30-2009

BEGIN BUSINESS

Maple Lawn Branch Office
7405 Maple Lawn Boulevard
Fulton, MD 20759 Howard County

05-18-2009

06-29-2009

Marietta Branch Office 2615 Dallas Highway
Marietta, GA 30064
Cobb County

06-30-2009

Town Center Branch Office
4835 Town Center Parkway Jacksonville, FL 32246
Duval County

02-23-2009

06-01-2009

FINANCIAL INSTITUTION The Coastal Bank of Georgia Brunswick
The Heritage Bank Hinesville

Page 7

APPLICATIONS TO CHANGE LOCATION

CHANGE LOCATION OF Sea Island Road Branch Office From: 100 Main Street St Simons Island GA 31522 Glynn County To: 401 Sea Island Road St Simons Island GA 31522 Glynn County

APPROVAL 05-14-2008

Fair Road Branch Office
From: 58 Suite B East Main Street
Statesboro GA 30458 Bulloch County
To: 506 Fair Road
Statesboro GA 30458 Bulloch County

06-24-2009

EFFECTIVE 06-01-2009

PREVIOUS NAME Sea Island Credit Union Brunswick
Republic Bank of Georgia Lawrenceville

NOTICE OF CHANGE IN NAME

NEW NAME Frederica Credit Union

APPROVAL 04-20-2009

EFFECTIVE 06-01-2009

The Piedmont Bank

06-29-2009

06-30-2009

FINANCIAL INSTITUTION MERGERS

FINANCIAL INSTITUTION
(SURVIVOR) Georgia's Own Credit Union Atlanta, GA

MERGED INSTITUTION Retail Employees Credit Union Atlanta, GA

APPROVAL 04-21-2009

IBM Southeast Employees' Federal Credit Union CMAR Credit Union

Boca Raton, FL

Marietta, GA

01-30-2009

CB&T Bank, N.A.
(f/k/a Columbus Bank and Trust Company) Columbus, GA

CB&T Bank of Middle Georgia Warner Robins, GA

Pending

CB&T Bank, N.A. (f/k/a Columbus Bank and Trust Company)
Columbus, GA

Commercial Bank & Trust Company of Troup County
LaGrange, GA

Pending

Security Bank of Bibb County Macon, GA

Security Bank of North Fulton Alpharetta, GA

Pending

Security Bank of Bibb County Macon, GA

Security Bank of Jones County Gray, GA

Pending

Security Bank of Bibb County Macon, GA

Security Bank of Houston County Perry, GA

Pending

EFFECTIVE 05-31-2009
06-29-2009

Page 8
FINANCIAL INSTITUTION (SURVIVOR) Security Bank of Bibb County Macon, GA
Security Bank of Bibb County Macon, GA

MERGED INSTITUTION
Security Bank of Gwinnett County Suwanee, GA

APPROVAL Pending

Security Bank of North Metro Woodstock, GA

Pending

EFFECTIVE

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

BANK HOLDING COMPANY RCB Financial Corporation Rome, GA

TO ACQUIRE River City Bank Rome, GA

APPROVAL 06-02-2009

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

CREDIT UNION
Georgia's Own Credit Union Atlanta

RESIDENTIAL GROUP COMMON BOND Douglas County, GA

APPROVAL 06-15-2009

CHECK CASHER LICENSES ISSUED

CITY Loganville
Norcross Mableton
Vidalia
Rome Macon
Carrollton
Chamblee Commerce
Dawsonville
Portal Forest Park

APPLICANT NAME * Aryaman Ventures, Inc.
Central Services, Inc. Elisa Services, Inc.
* J. C. Brantley, Inc.
* Jagdishbhair Patel Krisha Maan, Inc.
* Metro Carrollton Corporation
* Mohammed Alauddin * Om Siddhi, Inc.
Payroll Processing, LLC
Portal Financial Services, Inc. Shree Gogaji Krupa, LLC

TRADE NAME Discount Tobacco & Beer Speedy Check Cashiers Elisa Services Main Street Bait, Tackle and Pawn A-1 Food and Beverage Sportsman II Metro Carrollton Food Mart K Food Mart Sonny's Apex Express Payroll Processing
Parkway Bottle Shoppe

* =Registered (O.C.G.A. 7-1-700 et al)

MONEY TRANSMITTER
Cambridge Mercantile Corp. (USA) Princeton, NJ

MONEY TRANSMITTER LICENSES ISSUED
APPROVAL 06-01-2009

DBF's Customer Service Star 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 individual for going above and beyond in serving our customers:
Senior Mortgage Examiner Betty Thomas (NDFI--Mortgage): The Department received a letter from a customer regarding Betty stating: "Thank you so much for your time and concern in helping me through the NMLS/GA renewal process. You were a joy to work with, and I am so thankful that the Department has employees such as you helping companies like mine complete this process correctly. Once again, thank you so much for your wonderful customer care today!"

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

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.

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"Safeguarding Georgia's Financial Services"