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. 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 to which you wish to subscribe.