Financial institutions today, Nov. 2010

Inside this issue:

State Bar Ruling

2

Regarding

Answering a

Garnishment

Annual Assessment 2 for State-Chartered Banks and Credit
Unions

Customer Service

2

Star for the Month

of November

DBF Outreach and

2

Upcoming Speaking

Engagements

2011 State Holidays 3

Action on

4

Applications for the

Month of

November

Contact

6

Information

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

Monthly Bulletin #11

November 2010

Financial Institution Supervision Division Management Changes

Director for Supervision Janet Blackmon will retire effective January 1, 2011, after 34 years of faithful service to the State of Georgia. Janet began her career in state government in 1978 as a caseworker with the Gwinnett County Department of Family and Children Services. She transferred to the Department of Banking and Finance in 1984, where she began her career as an Assistant Financial Examiner in District 2 (Northeast Georgia). Janet progressed through the examiner ranks before being selected to fill a Supervisory Examiner position in District 2 in December 1997.

Janet Blackmon

Janet has served as Director for Supervision since February 2006, where she has administrative supervision over large institutions, special purpose institutions and troubled institutions. Prior to her appointment as Director for Supervision, Janet served for six years as a Supervisory Manager in the Department's administrative office.

Janet has a BA degree in Sociology and a Master of Business Administration degree, both of which were attained from Georgia State University. She is also a Certified Examination Manager. Congratulations Janet! We wish you the best in your well-deserved retirement.

With the announcement of Janet's retirement, Lori Godfrey was selected to fill the Director for Supervision position. Most recently, Lori held the Supervisory Manager position that is responsible for banks located in Districts 1 (Northwest Georgia) and 5 (South Georgia).
Lori began her career as an Assistant Financial Examiner with the Department in 1998 and progressed through the examiner ranks. In November 2003, Lori transferred to the Non-Depository Financial Institutions Division and worked on mortgage fraud-related cases. In 2006, Lori transferred to the Financial Institution Supervision Division to fill the role of Supervisory Manager.
Lori is a graduate of Kennesaw State University with a BBA in Marketing and Professional Sales. She is both a Certified Fraud Examiner and a Certified Examination Manager.

Lori Godfrey

"Safeguarding Georgia's Financial Services"

Page 2
State Bar Ruling Regarding Answering a Garnishment
The State Bar of Georgia's Standing Committee on the Unlicensed Practice of Law (Committee) issued UPL Advisory Opinion No. 2010-1 on June 4, 2010, addressing the question as to whether or not the completion, execution and filing of an answer in a garnishment action by a non-attorney employee of the garnishee was considered to be the unlicensed practice of law. The summary answer as determined by the Committee is that any nonlawyer who answers for a garnishee, other than himself, in a legal proceeding pending with a Georgia court of record is engaged in the unlicensed practice of law. Based on this opinion, if a financial institution receives a summons of garnishment, bank counsel must file the appropriate response on behalf of the financial institution. Any questions with regards to filing an answer to a garnishment should be addressed with bank counsel. UPL Advisory Opinion No. 2010-1 can be viewed in its entirely at the State Bar of Georgia website.
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.
CUSTOMER SERVICE STAR FOR THE MONTH OF NOVEMBER
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 individual for going above and beyond in serving our customers:
Senior Assistant Financial Examiner Jay Duncan (District 2) The Department received comments from a federal regulator regarding Jay's performance on a recent examination stating: "I would like to express my compliments to your Department for the fine work ethic displayed by Examiner Robert (Jay) Duncan. I was well impressed with Jay's aptitude and professionalism. He effectively managed a team of examiners who are in various levels of development. Jay provided them with guidance and made pertinent follow-up questions allowing them to further develop in the areas being examined. Jay is a good communicator and quickly developed a good rapport with the team and bank management who commended his professionalism and demeanor. Jay, under the leadership of Examiner McElheney, displayed the qualities of an excellent team leader and future supervisor."
CONGRATULATIONS AND GREAT JOB TO THIS MONTH'S CUSTOMER SERVICE STAR!!
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.

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)

DBF Holiday Hours
The offices of the Department of Banking and Finance will be closed on Thursday, December 23rd and Friday, December 24th in observance of State holidays. Our offices will also be closed on Monday, January 3rd for New Year's Day.
The Department wishes you and your family a wonderful Holiday Season!!

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

PREVIOUS NAME Georgia Central Credit Union
Georgia Federal Credit Union

FINANCIAL INSTITUTION CONVERSIONS

CONVERTED TO
Georgia Corporate Federal Credit Union
Duluth Gwinnett County

APPROVAL 11-05-2010

Georgia United Credit Union Duluth
Gwinnett County

11-05-2010

EFFECTIVE 11-12-2010

APPLICATIONS TO ESTABLISH A BRANCH OFFICE

FINANCIAL INSTITUTION
Georgia Commerce Bank Atlanta

BRANCH OFFICE Peachtree Road Branch Office 2970 Peachtree Road NW, Suite 100 Atlanta, GA 30305 Fulton County

APPROVAL 09-21-2010

BEGIN BUSINESS 11-18-2010

FINANCIAL INSTITUTION
United Community Bank Blairsville

APPLICATIONS TO CHANGE LOCATION

CHANGE LOCATION OF Spruce Pine Branch Office From: 12300 South Highway 226 Spruce Pine, NC 28777 Mitchell County To: 800 Summit Avenue Spruce Pine, NC 28777 Mitchell County

APPROVAL 09-08-2010

EFFECTIVE 11-08-2010

FINANCIAL INSTITUTION
(SURVIVOR) M E A Federal Credit Union Columbus, GA

FINANCIAL INSTITUTION MERGERS

MERGED INSTITUTION
Valdosta Educators Credit Union Valdosta, GA

APPROVAL 11-17-2010

EFFECTIVE

Page 5

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

FORMATIONS ONLY
BANK HOLDING COMPANY PFGBI, LLC McDonough, GA

TO ACQUIRE Montgomery County Bankshares, Inc.
Ailey, GA

APPROVAL 11-10-2010

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

CREDIT UNION Georgia's Own Credit Union
Atlanta

RESIDENTIAL GROUP COMMON BOND Henry County, GA

APPROVAL 11-17-2010

CHECK CASHER LICENSES ISSUED

CITY Gainesville
Duluth Clarkson
Moultrie Marietta
Norcross
Albany Augusta
Waycross
Waycross Monroe
Tifton
Hinesville Tifton
Snellville
Atlanta Carrollton
Mableton
Doraville Rome
Atlanta
Stone Mountain

APPLICANT NAME AP National, LLC
* Adam & Aiden, Inc. * Adika, LLC
* Aum Shree Ganeshaye, Inc. * De-Boss USA, LLC
Delta Superior, LLC
* Duttatrey, Inc. * Freddie D. Ruffin, Jr.
* Hayne's Grocery, Inc.
Jai Durga, Inc. Miraecomm 3, Inc.
* Nalinkant K. Dave
Prompalin, Inc. * Rajesh R. Yagnik
* Ramin, Inc.
* Rashida B. Bey, LLC S. A. Gilani Investments, Inc.
Sahara Media Group, LLC
Savitri, Inc. * Sukham, Inc.
* The Ganges Business, Inc.
* Wan Hee, Inc.

TRADE NAME Shipping Depot No. 3 Circle Food Mart Adika Money Services EZ Corner Majesty Taxes Simpson Grocery Ajax Liquor $$+Cents Hayne's Grocery George's Liquor Store Check Cashing & Cellular A & N Food Store MS Cash Advance Title Pawn Nita's Food Store
Handee Market Sahara Investments Doraville Package Store Rick's Little Garden Fair Street Supermarket Jumbo Package Store

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

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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