Inside this issue: Customer Service 2 Stars for the Month of March Action on 3 Applications for the Month of March News and topics of interest to financial institutions regulated by the Department of Banking and Finance Monthly Bulletin #3 March 2010 Federal Banking Agencies Issue Policy Statement on Funding and Liquidity Risk Management On March 17, 2010, the federal banking agencies (which includes the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, and the National Credit Union Administration), in conjunction with the Conference of State Bank Supervisors, released a policy statement outlining their expectations for sound funding and liquidity risk management practices. The policy statement reiterates the importance of effective liquidity risk management for the safety and soundness of financial institutions. It also emphasizes the importance of cash flow projections, diversified funding sources, stress testing, a cushion of liquid assets, and a formal, well-developed contingency funding plan as primary tools for measuring and managing liquidity risk. The agencies expect each financial institution to manage funding and liquidity risk using processes and systems that are commensurate with the institution's complexity, risk profile, and scope of operations. The Interagency Policy Statement can be found at: Interagency Policy Statement on Funding and Liquidity Risk Management - PDF DBF Outreach AND UPCOMING SPEAKING ENGAGEMENTS Commissioner Braswell will be participating on a Regulatory Panel at the CBA Regional Lunch Meetings on April 13th (Gainesville) and 15th (Forsyth). Senior Deputy Commissioner George Reynolds will also be participating on a Regulatory Panel at the CBA Regional Lunch Meetings on April 20th (Americus) and 22nd (Statesboro). Deputy Commissioner for Supervision Kevin Hagler will be participating on a regulatory panel on April 21st at the monthly meeting of the Atlanta Chapter of the Risk Management Association, which is held at The Georgian Club in the Galleria. District Director Heather Sartain will be speaking at the CBA Basic BSA School on April 29th at the Hilton Atlanta/Marietta Hotel and Conference Center, Marietta, Georgia. "Safeguarding Georgia's Financial Services" Page 2 CUSTOMER SERVICE STARS FOR THE MONTH OF MARCH 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 and teams for going above and beyond in serving our customers: Supervisory Manager Janet Anderson, Senior Financial Examiner Bob Bauguss, and Non-Depository Financial Institutions Division (Mortgage Section) staff - The Department received the following comments from a customer stating: "By the way, Bob Bauguss has been extraordinary in his assistance. He answered an e-mail I sent him Friday at 8am Sunday morning. It is mind boggling how wonderful your department has been through all this. Every last one of you needs to be commended for the work you have been doing during the MLO licensing process. Thank you so much for all your help getting us through this." Applications Analyst Susan Nelson (NDFI -MSBs) - The Department received a letter from a customer stating: "I wanted to let you know that my secretary and I recently had the pleasure of dealing with Susan Nelson in your office. I had a client who needed a check cashing license and, in that regard, we contacted your office and were fortunate enough to be directed to Susan Nelson. Ms. Nelson was very professional in her assistance to us. As a retired district attorney, I am pleased that the State of Georgia has such dedicated and capable employees. We thank your office and particularly Ms. Nelson for the assistance in this matter." CONGRATULATIONS AND GREAT JOB TO THIS MONTH'S CUSTOMER SERVICE STARS!! OFFICE CLOSING This is a reminder that the Department will be closed on Monday, April 26th for Confederate Memorial Day. Page 3 Action on Applications for the Month of March: 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 March 2010. PREVIOUS NAME Columbus Bank and Trust Company FINANCIAL INSTITUTION CONVERSIONS CONVERTED TO CB&T, N.A. Columbus Muscogee County APPROVAL Withdrawn 03-11-2010 EFFECTIVE FINANCIAL INSTITUTION HeritageBank of the South Albany HeritageBank of the South Albany HeritageBank of the South Albany HeritageBank of the South Albany HeritageBank of the South Albany SunTrust Bank Atlanta Independence Bank of Georgia Braselton PeoplesSouth Bank Colquitt APPLICATIONS TO ESTABLISH A BRANCH OFFICE BRANCH OFFICE Adel Branch Office 301 West Fourth Street Adel, GA 31620 Cook County APPROVAL Pending Baxley Branch Office 198 East Parker Street Baxley, GA 31513 Appling County Pending Hazlehurst Branch Office 22 East Jarman Street Hazlehurst, GA 31539 Jeff Davis County Pending Northside Drive Branch Office 726 Northside Drive Statesboro, GA 30458 Bulloch County Pending Statesboro Branch Office 335 South Main Street Statesboro, GA 30459 Bulloch County Pending Sam Rittenberg Boulevard Branch Office 1923 Sam Rittenberg Boulevard Charleston, SC 29407 Charleston County 12-11-2009 Gainesville Branch Office 311 Green Street Gainesville, GA 30501 Hall County 03-08-2010 Lynn Haven Branch Office 2606 South Highway 77 Lynn Haven, FL 32444 Bay County Pending BEGIN BUSINESS 03-08-2010 Page 4 FINANCIAL INSTITUTION PeoplesSouth Bank Colquitt PeoplesSouth Bank Colquitt PeoplesSouth Bank Colquitt Glennville Bank Glennville Southern Bank Sardis BRANCH OFFICE 23rd Street Branch Office 450 23rd Street East Panama City, FL 32405 Bay County South Tyndall Parkway Branch Office 805 South Tyndall Parkway Panama City, FL 32404 Bay County Panama City Beach Branch Office 11790 Panama City Beach Parkway Panama City Beach, FL 32407 Bay County Reidsville Branch Office 246 South Main Street, Suite F Reidsville, GA 30453 Tattnall County Gibson Branch Office 21 College Street Gibson, GA 30810 Glascock County APPROVAL Pending BEGIN BUSINESS Pending Pending 01-12-2010 03-10-2010 Pending APPLICATIONS TO CHANGE LOCATION FINANCIAL INSTITUTION Ameris Bank Moultrie From: To: CHANGE LOCATION OF Lawrenceville Branch Office 1888 Old Norcross Road Lawrenceville GA 30044 Gwinnett County 1846 Old Norcross Road, Suite 200 Lawrenceville GA 30044 Gwinnett County APPROVAL 03-23-2010 EFFECTIVE PREVIOUS NAME Bank of Upson Thomaston Columbus Bank and Trust Company Columbus NOTICE OF CHANGE IN NAME NEW NAME SouthCrest Bank APPROVAL Pending EFFECTIVE Synovus Bank Pending PROPOSED NAME Atfinity Bank APPLICATIONS FOR RESERVATION OF A NAME COUNTY Fulton County APPLICANT Mr. Edward J. Cooney, President Atlanta Business Bank 5660 New Northside Drive NW, Suite 200 Atlanta, GA 30328 PROPOSED NAME Sunrise Bank COUNTY Lowndes County Synovus Bank Muscogee County Tippins Bank Evans County Page 5 APPLICANT Mr. Joseph D. Reid, III Capitol Bancorp Limited Capitol Bancorp Center, 200 Washington Square North Lansing, MI 48933 Mr. Samuel F. Hatcher Office of the General Counsel Synovus Financial Corp 1111 Bay Avenue, Suite 500 Columbus, GA 31901 Mr. Tracy M. Durrence GB Bank Group, Inc. 102 E. Barnard Street Glennville, GA 30427-0278 FINANCIAL INSTITUTION (SURVIVOR) Columbus Bank and Trust Company Columbus, GA Columbus Bank and Trust Company Columbus, GA Columbus Bank and Trust Company Columbus, GA Columbus Bank and Trust Company Columbus, GA Columbus Bank and Trust Company Columbus, GA Columbus Bank and Trust Company Columbus, GA Columbus Bank and Trust Company Columbus, GA Columbus Bank and Trust Company Columbus, GA Columbus Bank and Trust Company Columbus, GA Columbus Bank and Trust Company Columbus, GA Columbus Bank and Trust Company Columbus, GA Columbus Bank and Trust Company Columbus, GA FINANCIAL INSTITUTION MERGERS MERGED INSTITUTION The Coastal Bank of Georgia Brunswick, GA Bank of North Georgia Alpharetta, GA The National Bank of South Carolina Sumter, SC First Commercial Bank Birmingham, AL Coastal Bank and Trust of Florida Pensacola, FL AFB&T Athens, GA Synovus Bank Saint Petersburg, FL Sea Island Bank Statesboro, GA First Commercial Bank of Huntsville Huntsville, AL Sterling Bank Montgomery, AL SB&T Bank Albany, GA The First National Bank of Jasper Jasper, AL APPROVAL EFFECTIVE Pending Pending Pending Pending Pending Pending Pending Pending Pending Pending Pending Pending Page 6 FINANCIAL INSTITUTION (SURVIVOR) Columbus Bank and Trust Company Columbus, GA MERGED INSTITUTION Commercial Bank Thomasville, GA APPROVAL Pending Columbus Bank and Trust Company Columbus, GA First State Bank and Trust Company of Valdosta Valdosta, GA Pending Columbus Bank and Trust Company Columbus, GA Tallahassee State Bank Tallahassee, FL Pending Columbus Bank and Trust Company Columbus, GA Synovus Bank of Jacksonville Jacksonville, FL Pending Columbus Bank and Trust Company Columbus, GA First Coast Community Bank Fernandina Beach, FL Pending Columbus Bank and Trust Company Columbus, GA CB&T Bank of East Alabama Phenix City, AL Pending Columbus Bank and Trust Company Columbus, GA Commercial Bank & Trust Company of Troup County Pending LaGrange, GA Columbus Bank and Trust Company Columbus, GA Bank of Coweta Newnan, GA Pending Columbus Bank and Trust Company Columbus, GA Community Bank and Trust of Southeast Alabama Dothan, AL Pending Columbus Bank and Trust Company Columbus, GA First Community Bank of Tifton Tifton, GA Pending Columbus Bank and Trust Company Columbus, GA Citizens First Bank Rome, GA Pending Columbus Bank and Trust Company Columbus, GA Cohutta Banking Company Chattanooga, TN Pending Columbus Bank and Trust Company Columbus, GA Georgia Bank & Trust Calhoun, GA Pending Columbus Bank and Trust Company Columbus, GA The Bank of Tuscaloosa Tuscaloosa, AL Pending Columbus Bank and Trust Company Columbus, GA CB&T Bank of Middle Georgia Warner Robins, GA Pending CB&T, N.A. (fka Columbus Bank and Trust Company) Columbus, GA CB&T Bank of Middle Georgia Warner Robins, GA Withdrawn 03-11-2010 CB&T, N.A. (fka Columbus Bank and Trust Company) Columbus, GA Commercial Bank & Trust Company of Troup County Withdrawn LaGrange, GA 03-11-2010 First Choice Community Bank Dallas, GA First Choice Community Bank 1874 Newnan, GA 02-24-2010 Bank of Upson Thomaston, GA The First National Bank of Polk County Cedartown, GA Pending EFFECTIVE 03-26-2010 FINANCIAL INSTITUTION (SURVIVOR) Bank of Upson Thomaston, GA Bank of Upson Thomaston, GA Powerco Federal Credit Union Atlanta Memorial Health Credit Union Savannah MERGED INSTITUTION Bank of Chickamauga Chickamauga, GA Peachtree Bank Maplesville, AL Georgia Power Northeast Credit Union Athens Coastal Georgia Federal Credit Union Savannah Page 7 APPROVAL Pending EFFECTIVE Pending 11-16-2009 01-31-2010 11-30-2009 01-31-2010 APPLICATIONS TO BECOME A BANK HOLDING COMPANY AND/OR TO ACQUIRE VOTING STOCK OF A FINANCIAL INSTITUTION FORMATIONS ONLY BANK HOLDING COMPANY State Bank Financial Corporation Atlanta, GA TO ACQUIRE State Bank and Trust Company Pinehurst, GA APPROVAL Pending CREDIT UNION North Georgia Credit Union Toccoa Five Star Credit Union Dothan, AL Georgia's Own Credit Union Atlanta NOTIFICATION OF APPROVAL OF APPLICATION TO SERVE A RESIDENTIAL GROUP COMMON BOND RESIDENTIAL GROUP COMMON BOND Hart County, GA APPROVAL 03-04-2010 Grady County, GA 03-19-2010 Columbia County, GA 03-30-2010 Page 8 CHECK CASHER LICENSES ISSUED CITY Macon Ringgold Calhoun Griffin LaGrange Warner Robins Jasper Cordele Vidalia Macon Guyton Norcross Jesup Valdosta Cartersville APPLICANT NAME * 52 Mini Mart, Inc. Cochran's Auto Truckstop, Inc. * Elena Beauty Salon, Inc. * Hee Kyu Yi Jai Omkara, LLC * Khodal Krupa, Inc. National Title Pawn of Jasper, Inc. * Premier Beverage, Inc. Purusharth, Inc. Ricky A. Hulett Rinku Convenience, Inc. Sai Holding, Inc. Sailor Pawn, Inc. * Shivsahil Corporation T&C Southern Ventures, Inc. TRADE NAME 52 MINI MART Elena's Beauty Salon Junior Supermarket PCA Food Store All American Liquor National Title Pawn of Jasper Party Shoppe Main Street Grocery Southside Loan & Pawn Citgo Food Mart Mr. Cash Stop-n-Go Toad's Beverage Company * =Registered (O.C.G.A. 7-1-700 et al) MONEY TRANSMITTER Thinking Minds, Inc. Marietta, GA Western Africa Corp Newark, NJ MONEY TRANSMITTER LICENSES ISSUED APPROVAL 03-03-2010 03-10-2010 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 9 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.