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. Page 3 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. 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.