Financial institutions today, 2010-05

Inside this issue:

Federal Reserve

2

Board Issues

Clarifications to

Regulation E and

Regulation DD

Final Rules

Customer Service

2

Stars for the Month

of May

Action on

3

Applications for the

Month of May

Contact

8

Information

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

Monthly Bulletin #5

May 2010

Increase in GRMA Per Loan Fee from $6.50 to $10.00
On May 12, 2010, O.C.G.A. Section 7-1-1011(2)(b) was amended to increase the loan fee from $6.50 to $10.00 that must be remitted to the Department for each residential mortgage loan that closes for which a security deed, a modification of a security deed or other form of modification of a security interest is recorded.
For the reporting period of January 1, 2010 through June 30, 2010, per loan fees must be remitted to the Department through our online reporting and payment site no later than Wednesday, September 1, 2010.
For residential mortgage loans that closed on any date from January 1, 2010, through May 11, 2010, a fee of $6.50 per loan must be remitted to the Department. A fee of $10.00 must be remitted to the Department for each residential mortgage loan that closes on any date from May 12, 2010, through June 30, 2010.
After the current reporting cycle concludes, a $10.00 fee for each residential loan that closes will be applicable unless and until such time as a further law change may take effect.

DBF Outreach AND UPCOMING SPEAKING ENGAGEMENTS
Commissioner Braswell will be speaking at the Georgia Central Credit Union Symposium on June 17th at the Westin Peachtree Plaza, Atlanta, GA.
Deputy Commissioner for Non-Depository Financial Institutions Rod Carnes will be speaking to the Georgia Manufactured Housing Association on June 17th in Forsyth, GA.
Senior Deputy Commissioner Steve Pleger will be participating in a roundtable discussion at the GBA Community Bankers Committee meeting on June 30th.
"Safeguarding Georgia's Financial Services"

Page 2
Federal Reserve Board Issues Clarifications to Regulation E and Regulation DD Final Rules
On May 28, 2010, the Federal Reserve Board announced final clarifications to parts of its November 2009 final rule under Regulation E (Electronic Fund Transfers) and its December 2008 final rule under Regulation DD (Truth in Savings) pertaining to overdraft services.
The final clarifications address questions that have been posed and provide further guidance regarding certain aspects of the final overdraft rules. In particular, the final clarifications explain that the prohibition in Regulation E on assessing overdraft fees without the consumer's affirmative consent applies to all institutions, including those with a policy and practice of declining automated teller machine (ATM) and one-time debit card transactions when an account has insufficient funds.
Links to the Federal Register notices are provided below:
Federal Register notice--Regulation DD clarification: HTML | PDF Federal Register notice--Regulation E clarification: HTML| PDF
CUSTOMER SERVICE STARS FOR THE MONTH OF MAY
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 NDFI Division Attorney Helen O'Leary - The Department received an e-mail from a customer stating: "I would like to commend Ms. O'Leary for being instrumental in securing a refund from an unscrupulous mortgage broker. She also followed-up with me to see if I received a check. Upon my initial contact with your office I was told that I was pretty much on my own, but that it wouldn't hurt to write a letter of complaint. Ms. O'Leary turned this letter into a refund and I think that deserves some "brownie points"."
Supervisory Manager Larry Shelley - The Department received a letter from a customer stating: "I would like to express my appreciation for the assistance of Larry Shelley. Mr. Shelley was very helpful and courteous when I called to discuss surrendering our license. I appreciate his time and patience."
CONGRATULATIONS AND GREAT JOB TO THIS MONTH'S CUSTOMER SERVICE STARS!!
OFFICE CLOSING This is a reminder that the Department will be closed on
Friday, July 2nd for the Independence Day holiday.

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Action on Applications for the Month of May:
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 May 2010.

FINANCIAL INSTITUTION Wilcox County State Bank Abbeville
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
PeoplesSouth Bank Colquitt
PeoplesSouth Bank Colquitt
PeoplesSouth Bank Colquitt

APPLICATIONS TO ESTABLISH A BRANCH OFFICE

BRANCH OFFICE Ocilla Branch Office
413 N Irwin Avenue
Ocilla, GA 31774 Irwin County

APPROVAL 09-09-2009

Adel Branch Office 301 West Fourth Street
Adel, GA 31620
Cook County

04-30-2010

Baxley Branch Office
198 East Parker Street Baxley, GA 31513
Appling County

04-30-2010

Hazlehurst Branch Office
22 East Jarman Street
Hazlehurst, GA 31539 Jeff Davis County

04-30-2010

Northside Drive Branch Office 726 Northside Drive
Statesboro, GA 30458
Bulloch County

04-30-2010

Statesboro Branch Office
335 South Main Street Statesboro, GA 30459
Bulloch County

04-30-2010

Georgetown Safeway In-Store Branch Office
1855 Wisconsin Avenue Northwest Washington, DC 20007

09-21-2009

Lynn Haven Branch Office 2606 South Highway 77
Lynn Haven, FL 32444
Bay County

Disapproved 05-27-2010

23rd Street Branch Office
450 23rd Street East Panama City, FL 32405
Bay County

Disapproved 05-27-2010

South Tyndall Parkway Branch Office
805 South Tyndall Parkway
Panama City, FL 32404 Bay County

Disapproved 05-27-2010

BEGIN BUSINESS 04-05-2010 05-24-2010 05-24-2010 05-24-2010 05-24-2010 05-24-2010 05-06-2010

FINANCIAL INSTITUTION PeoplesSouth Bank Colquitt
Southern Bank Sardis

BRANCH OFFICE Panama City Beach Branch Office 11790 Panama City Beach Parkway Panama City Beach, FL 32407 Bay County
Gibson Branch Office 21 College Street Gibson, GA 30810 Glascock County

Page 4

APPROVAL Disapproved
05-27-2010

BEGIN BUSINESS

Pending

FINANCIAL INSTITUTION SunTrust Bank Atlanta
Global Commerce Bank Doraville

APPLICATIONS TO CHANGE LOCATION

From: To:

CHANGE LOCATION OF Fuquay-Varina Branch Office 1371 E Broad St Fuquay-Varina NC 27526 Wake County 1140 East Broad Street Fuquay-Varina NC 27526 Wake County

APPROVAL 08-17-2009

From: To:

Main Office 5150 Buford Highway, Suite B-130
Doraville 30340
DeKalb County 7130 Buford Highway NE
Doraville GA 30340
DeKalb County

Pending

EFFECTIVE 05-10-2010

FINANCIAL INSTITUTION (SURVIVOR) Alma Exchange Bank & Trust Alma, GA
Alma Exchange Bank & Trust Alma, GA
Alma Exchange Bank & Trust Alma, GA
Frederica Credit Union Brunswick, 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 Pineland State Bank Metter, GA
Citizens State Bank Kingsland, GA
Peoples State Bank & Trust Baxley, GA
Rich-SeaPak Federal Credit Union Brunswick, GA
AFB&T Athens, GA
SB&T Bank Albany, GA
Sterling Bank Montgomery, AL

APPROVAL EFFECTIVE Pending Pending Pending 05-14-2010 05-28-2010 05-28-2010 05-28-2010

Page 5
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
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

MERGED INSTITUTION
First Commercial Bank of Huntsville Huntsville, AL

APPROVAL EFFECTIVE 05-28-2010

Sea Island Bank Statesboro, GA

05-28-2010

Synovus Bank Saint Petersburg, FL

05-28-2010

The First National Bank of Jasper Jasper, AL

05-28-2010

Coastal Bank and Trust of Florida Pensacola, FL

05-28-2010

First Commercial Bank Birmingham, AL

05-28-2010

The National Bank of South Carolina Sumter, SC

05-28-2010

Bank of North Georgia Alpharetta, GA

05-28-2010

Trust One Bank Memphis, TN

Pending

The Bank of Nashville Nashville, TN

Pending

First Community Bank of Tifton Tifton, GA

05-28-2010

Synovus Bank of Jacksonville Jacksonville, FL

05-28-2010

First Coast Community Bank Fernandina Beach, FL

05-28-2010

CB&T Bank of East Alabama Phenix City, AL

05-28-2010

Commercial Bank & Trust Company of Troup County 05-28-2010 LaGrange, GA

Bank of Coweta Newnan, GA

05-28-2010

Tallahassee State Bank Tallahassee, FL

05-28-2010

Commercial Bank Thomasville, GA

05-28-2010

Citizens First Bank Rome, GA

05-28-2010

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
Bank of Upson Thomaston, GA
Bank of Upson Thomaston, GA
Bank of Upson Thomaston, GA
Bank of Valdosta Valdosta, GA
Bank of Valdosta Valdosta, GA

Page 6

MERGED INSTITUTION Cohutta Banking Company Chattanooga, TN
Georgia Bank & Trust Calhoun, GA
The Bank of Tuscaloosa Tuscaloosa, AL
CB&T Bank of Middle Georgia Warner Robins, GA
Community Bank and Trust of Southeast Alabama Dothan, AL
The Coastal Bank of Georgia Brunswick, GA
First State Bank and Trust Company of Valdosta Valdosta, GA
The First National Bank of Polk County Cedartown, GA
Bank of Chickamauga Chickamauga, GA
Peachtree Bank Maplesville, AL
Peoples State Bank Jeffersonville, GA
Sunrise Bank of Atlanta Atlanta, GA

APPROVAL EFFECTIVE 05-28-2010 05-28-2010 05-28-2010 05-28-2010 05-28-2010 05-28-2010 05-28-2010 Pending Pending Pending Pending Pending

PREVIOUS NAME Tippins Bank & Trust Company Claxton
Columbus Bank and Trust Company Columbus
Bank of Upson Thomaston
Bank of Valdosta Valdosta

NOTICE OF CHANGE IN NAME NEW NAME Tippins Bank
Synovus Bank
SouthCrest Bank
Sunrise Bank

APPROVAL EFFECTIVE 05-19-2010 05-31-2010
05-28-2010
Pending
Pending

Page 7
PROPOSED NAME Affinity 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

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

CHECK CASHER LICENSES ISSUED

CITY Unadilla
Atlanta Macon
Savannah
LaGrange Blakely
Atlanta
Snellville Cartersville
Macon

APPLICANT NAME * Amba Shakti, LLC
Boulevard Convenience, Inc. Cash It Macon, LLC
* Discount Stop, Inc.
HPXM, Inc. * Jay Veer 1, Corporation
* Jin Yum Enterprises, Inc.
Pramukh Swami, Inc. * Satnam, Inc.
Shurlington Package Store, LLC

TRADE NAME Unadilla Mini Food BP Foodmart
Discount Stop Pony Express Market Quik Mart Sunny's Neighborhood Grocery Shell Food Store #1
Shurlington Package

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

MONEY TRANSMITTER
Blackhawk Network California, Inc. Pleasanton, CA
Golden Money Transfer, Inc. San Diego, CA

MONEY TRANSMITTER LICENSES ISSUED APPROVAL 05-07-2010
05-17-2010

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 8
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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