Financial institutions today, Oct. 2010

Inside this issue:

Customer Service

2

Stars for the Month

of October

DBF Outreach and

2

Upcoming Speaking

Engagements

2011 State Holidays 3

Action on

4

Applications for the

Month of October

Contact

6

Information

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

Monthly Bulletin #10

October 2010

Annual Assessment for State-Chartered Banks and Credit Unions
The annual assessment fee letters will be e-mailed to banks and credit unions early in December, and the fees will be assessed on February 1, 2011. Please complete and submit by December 31, 2010, the Electronic Funds Transfer Authorization/ACH Form for any change of information. The ACH Authorization and Instructions Form can be found on our website from the Banks & Holding Companies Memos and Guidance page or from the Credit Unions Policy Statements and Guidance page.
Please e-mail or call Renee` Martin with any questions, rmartin@dbf.state.ga.us or 770-986-1641.

Georgia Department of Banking and Finance Adopts Final Rules
On November 2, 2010, the Department of Banking and Finance adopted Final Rules. They were filed with the Secretary of State on November 2, 2010, and will be effective 20 days following or November 22, 2010.
These rules were proposed and distributed on September 23, 2010. We received ten (10) written comment letters: seven (7) regarding Loans Generally, Interpretations and Rulings; two (2) regarding Disclosure Requirements and Mortgage Loan Files; and one (1) regarding late fees for a mortgage loan originator's failure to timely obtain continuing education. After review of the comment letters received, revisions have been made for clarification purposes. The Department believes these Final Rules encourage safety and soundness, safe and fair mortgage lending, and conform to the law.
Please note: In an effort to ensure parity between state and federally chartered banks regarding the renewal of loans, the Department no longer interprets 7-1-285(c)(9) as pertaining to only "performing" loans as originally stated in our February 2010 bulletin. Bankers are encouraged to familiarize themselves with 7-1-285(c)(9) and ensure that safe and sound underwriting procedures are undertaken and documented when making these renewal/restructuring decisions.
To view or download the Final Rules on our website, go to Laws and Regulations from our home page (http://dbf.georgia.gov) - http://dbf.georgia.gov/00/channel_title/0,2094,43414745_46295996,00.html and select the appropriate link for the Final Rules, OR access them directly from http://dbf.georgia.gov/vgn/images/portal/cit_1210/51/25/164549544DBFAdoptedRules11.02.10.pdf

"Safeguarding Georgia's Financial Services"

Page 2
CUSTOMER SERVICE STARS FOR THE MONTH OF OCTOBER
It is the Department's goal to provide excellent customer service by 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: Senior Financial Examiner Mark Smith (District 4) and his Examination Team The Department received comments from a customer stating: "I would like to express my appreciation to Mark A. Smith, Examiner-In-Charge. Mr. Smith and his team of examiners were courteous and professional in every respect. Their knowledge and experience was evident throughout the examination process. These are trying times for bankers and examiners. Given these difficult circumstances, I appreciate the manner in which this examination was conducted and the spirit of understanding and cooperation that Mr. Smith and his team displayed.."
CONGRATULATIONS AND GREAT JOB TO THIS MONTH'S CUSTOMER SERVICE STARS!!
DBF Outreach AND UPCOMING SPEAKING ENGAGEMENTS
Commissioner Braswell will be participating on a regulatory panel at the GBA Credit Conference on December 2nd at the Cobb Galleria Centre, Atlanta, GA. Commissioner Braswell will also be speaking at the 3rd Annual CBA Bank Directors' & Executive Management Conference on December 6th at The Ritz-Carlton Buckhead, Atlanta, GA.
Deputy Commissioner for Supervision Kevin Hagler spoke at the CBA Regulation & Taxation Committee meeting at CBA Headquarters in Atlanta on November 4th.
HOLIDAY CLOSING This is a reminder that the Department will be closed on Thursday,
November 11th for Veterans' Day, Thursday, November 25th for Thanksgiving Day, and
Friday, November 26th in observance of Robert E. Lee's Birthday.

Page 3

2011 State Holidays

In accordance with O.C.G.A. 1-4-1, Governor Sonny Perdue proclaimed the following dates as public and legal holidays for the year 2011. 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.

Holiday Name
New Years Day 2011
Martin Luther King Jr.'s Birthday Robert E. Lee's Birthday
Washington's Birthday
Confederate Memorial Day Memorial Day Independence Day Labor Day Columbus Day Veterans' Day Thanksgiving Day
Christmas Day

Date Observed
January 1st Saturday Will be observed Monday, Jan 3rd
January 17th Monday January 19th Wednesday Will be observed on Friday, November 25th February 21st - Monday Will be observed on Monday, December 26th
April 25th Monday
May 30th Monday July 4th Monday
September 5th Monday
October 10th Monday
November 11th Friday November 24th Thursday Lee's Birthday will be observed on Friday, November 25th December 25th Sunday (will be observed on Friday, Dec 23rd) Washington's Birthday (will be observed on Monday, Dec. 26th)

Page 4
Action on Applications for the Month of October:
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 October 2010.

PREVIOUS NAME Georgia Federal Credit Union

FINANCIAL INSTITUTION CONVERSIONS

CONVERTED TO Georgia United Credit Union
Duluth
Gwinnett County

APPROVAL EFFECTIVE Pending

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

FINANCIAL INSTITUTION MERGERS
MERGED INSTITUTION Georgia State University Federal Credit Union Atlanta, GA
Richmond Community Federal Credit Union Gracewood, GA

APPROVAL EFFECTIVE 08-16-2010 10-31-2010
Withdrawn 10-28-2010

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

FORMATIONS ONLY
BANK HOLDING COMPANY Heritage Financial Group, Inc. Baltimore, MD
PFGBI, LLC McDonough, GA

TO ACQUIRE HeritageBank of the South Albany, GA
Montgomery County Bankshares, Inc. Ailey, GA

APPROVAL 10-12-2010
Pending

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

CREDIT UNION Dupont Community Credit Union
Hixson, TN

RESIDENTIAL GROUP COMMON BOND Catoosa County, GA

APPROVAL 10-12-2010

CHECK CASHER LICENSES ISSUED

CITY Madison
Madison
Savannah Forest Park
Reidsville
Newnan Morrow
Moultrie
Chatsworth Decatur
Marietta
Monroe College Park
Warner Robins
Sylvania Newnan
Fort Valley
McDonough Ochlocknee
Atlanta
Arabi

APPLICANT NAME * B&J Beverage, Inc.
* BNR, Inc.
* C K Chu Enterprises, Inc. Community Express Food Mart, LLC
* DB Petroleum, LLC
Hugo Hernandez KJ and MN Enterprises, Inc.
Kelvie D. Johnson
Khushiom, LLC * MC & Jeon, LLC
Mohsen M. Alsaleh
* Monroe Mtn, Inc. Nur Investment, Inc.
Sahajanandswami, Inc.
* Supra, Inc. Sur Sunny Enterprises, LLC
Swami 4009, Inc.
* Triple A Businesses, Inc. * Umiya Enterprise, Inc.
Yolanda B. Webb-Neal
* Zadex Corporation

TRADE NAME EZ Bottle Shop Olde South Wine and Spirits Chu's II Community Express Discount Beverage H&M Check Cashing Service Shell Food Mart Edwards Tax Service A-1 Foodmart H&B Grocery Hart & BB Check Cashing Amoco Food Mart Quick Check Cashing Rocky Mountain Liquors Sylvania Discount Tobacco
Bobby's Food Mart Petro Food Mart T & J Country Store YoYo Check Cashers KHC Mart #1

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

Page 5

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 6
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/processors, lenders and loan originators, 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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