Financial institutions today, 2010-06

Inside this issue:

E-mail Claiming to

2

Be From the FDIC

Customer Service

2

Stars for the Month

of June

Action on

3

Applications for the

Month of June

Contact

8

Information

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

Monthly Bulletin #5

June 2010

Federal Banking Agencies Issue Final Guidance on Incentive Compensation
On June 21, 2010, the Federal Reserve, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, and the Federal Deposit Insurance Corporation (referred to collectively as "the Agencies") issued final guidance to ensure that incentive compensation arrangements at banking organizations take into account risk and are consistent with safe and sound practices.
The guidance is designed to ensure that incentive compensation arrangements at banking organizations appropriately tie rewards to longer-term performance and do not undermine the safety and soundness of the institution or create undue risks to the financial system.
The Agencies expect banking organizations to regularly review their incentive compensation arrangements for all executive and non-executive employees who, either individually or as part of a group, have the ability to expose the organization to material amounts of risk, as well as to regularly review the risk-management, control, and corporate governance processes related to these arrangements.
The Agencies recognize that incentive compensation arrangements often seek to serve several important and worthy objectives. The analysis and methods for ensuring that incentive compensation arrangements take appropriate account of risk should be tailored to the size, complexity, business strategy, and risk tolerance of each organization. The resources required will depend upon the complexity of the firm and its use of incentive compensation arrangements.
The guidance becomes effective upon its publication in the Federal Register. Read the release and attached guidance at: http://www.fdic.gov/news/news/press/2010/pr10138.html.

"Safeguarding Georgia's Financial Services"

Page 2
E-mail Claiming to Be From the FDIC
On July 2, 2010, the Federal Deposit Insurance Corporation (FDIC) issued the following consumer alert:
The FDIC has received numerous reports of a fraudulent e-mail that has the appearance of being sent from the FDIC. The subject line of the e-mails state: "you need to check your Bank Deposit Insurance Coverage." The e-mail tells recipients that, "You have received this message because you are a holder of a FDIC-insured bank account. Recently FDIC has officially named the bank you have opened your account with as a failed bank, thus, taking control of its assets." The e-mail then directs recipients to click on a link stating "You need to visit the official FDIC website and perform the following steps to check your Deposit Insurance Coverage."
The e-mail referenced above and associated website are fraudulent. Recipients should consider the intent of this e-mail as an attempt to collect personal or confidential information, or to load malicious software onto end users' computers, and should not click on the link provided.
The FDIC does not issue unsolicited e-mails to consumers. Financial institutions and consumers should NOT follow the link in the fraudulent e-mail.
CUSTOMER SERVICE STARS FOR THE MONTH OF JUNE
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:
District 1 Examination Teams The Department received comments from two customers stating: "The examiners were the sharpest, brightest examiners that I have worked with in the 10 years the bank has been open. I was thoroughly impressed with the exam team. It was refreshing to have a fully trained staff with no trainees that the bank had to educate." AND "Thanks for your compassionate treatment of our team of employees today. I have commended both the DBF and the FDIC in the bank and outside throughout the exam process. Yes it is a very stressful time and everyone has worked tirelessly trying to right the ship. I know that our regulators jobs have increased quadruple time, too."
CONGRATULATIONS AND GREAT JOB TO THIS MONTH'S CUSTOMER SERVICE STARS!!

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

FINANCIAL INSTITUTION HeritageBank of the South Albany
HeritageBank of the South Albany
SunTrust Bank Atlanta
NOA Bank Duluth
Southwest Georgia Bank Moultrie
Southern Bank Sardis
United Bank Zebulon

APPLICATIONS TO ESTABLISH A BRANCH OFFICE

BRANCH OFFICE Lee County Branch Office
104 Heritage Lane
Leesburg, GA 31763 Lee County

APPROVAL BEGIN BUSINESS 06-16-2010

Valdosta Roosevelt Drive Branch Office 103 Roosevelt Drive
Valdosta, GA 31602
Lowndes County

06-16-2010

Hammock Landing Branch Office
175 Palm Bay Road, NE West Melbourne, FL 32904
Brevard County

09-08-2009

06-14-2010

Doraville Branch Office
5938 Buford Highway
Doraville, GA 30340 DeKalb County

05-21-2009

06-17-2010

Valdosta Branch Office 3500 North Valdosta Road
Valdosta, GA 31602
Lowndes County

02-06-2009

06-09-2010

Gibson Branch Office
21 College Street Gibson, GA 30810
Glascock County

06-04-2010

West Taylor Branch Office
1340 West Taylor Street Griffin, GA 30223
Spalding County

04-12-2010

06-01-2010

FINANCIAL INSTITUTION
Eastside Commercial Bank Conyers

APPLICATIONS TO CHANGE LOCATION

From: To:

CHANGE LOCATION OF
Duluth Branch Office 2905 Premiere Parkway, Suite 150
Duluth, GA 30097
Gwinnett County 3175 Satellite Boulevard
Building 600, Suite 150
Duluth, GA 30097 Gwinnett County

APPROVAL EFFECTIVE Pending

FINANCIAL INSTITUTION Global Commerce Bank Doraville
Ameris Bank Moultrie

From: To:

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

From: To:

Lawrenceville Branch Office 1888 Old Norcross Road
Lawrenceville, GA 30044
Gwinnett County 1846 Old Norcross Road, Suite 200
Lawrenceville GA 30044
Gwinnett County

Page 4 APPROVAL EFFECTIVE Pending
03-23-2010 06-07-2010

PREVIOUS NAME Columbus Bank and Trust Company Columbus
Bank of Upson Thomaston
Bank of Valdosta Valdosta

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

APPROVAL EFFECTIVE

05-28-2010

06-01-2010

Pending

Pending

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
Synovus Bank Columbus, GA
Synovus Bank Columbus, GA
Synovus Bank 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 06-30-2010 05-28-2010 06-01-2010 05-28-2010 06-01-2010 05-28-2010 06-01-2010

Page 5
FINANCIAL INSTITUTION (SURVIVOR) Synovus Bank Columbus, GA
Synovus Bank Columbus, GA
Synovus Bank Columbus, GA
Synovus Bank Columbus, GA
Synovus Bank Columbus, GA
Synovus Bank Columbus, GA
Synovus Bank Columbus, GA
Synovus Bank Columbus, GA
Synovus Bank Columbus, GA
Synovus Bank Columbus, GA
Synovus Bank Columbus, GA
Synovus Bank Columbus, GA
Synovus Bank Columbus, GA
Synovus Bank Columbus, GA
Synovus Bank Columbus, GA
Synovus Bank Columbus, GA
Synovus Bank Columbus, GA
Synovus Bank Columbus, GA
Synovus Bank Columbus, GA

MERGED INSTITUTION First Commercial Bank of Huntsville Huntsville, AL
Sea Island Bank Statesboro, GA
Synovus Bank Saint Petersburg, FL
The First National Bank of Jasper Jasper, AL
Coastal Bank and Trust of Florida Pensacola, FL
First Commercial Bank Birmingham, AL
The National Bank of South Carolina Sumter, SC
Bank of North Georgia Alpharetta, GA
Trust One Bank Memphis, TN
The Bank of Nashville Nashville, TN
First Community Bank of Tifton Tifton, GA
Synovus Bank of Jacksonville Jacksonville, FL
First Coast Community Bank Fernandina Beach, FL
CB&T Bank of East Alabama Phenix City, AL
Commercial Bank & Trust Company of Troup County LaGrange, GA
Bank of Coweta Newnan, GA
Tallahassee State Bank Tallahassee, FL
Commercial Bank Thomasville, GA
Citizens First Bank Rome, GA

APPROVAL EFFECTIVE 05-28-2010 06-01-2010 05-28-2010 06-01-2010 05-28-2010 06-01-2010 05-28-2010 06-01-2010 05-28-2010 06-01-2010 05-28-2010 06-01-2010 05-28-2010 06-01-2010 05-28-2010 06-01-2010 06-24-2010 06-30-2010 06-24-2010 06-30-2010 05-28-2010 06-01-2010 05-28-2010 06-01-2010 05-28-2010 06-01-2010 05-28-2010 06-01-2010 05-28-2010 06-01-2010 05-28-2010 06-01-2010 05-28-2010 06-01-2010 05-28-2010 06-01-2010 05-28-2010 06-01-2010

FINANCIAL INSTITUTION (SURVIVOR) Synovus Bank Columbus, GA
Synovus Bank Columbus, GA
Synovus Bank Columbus, GA
Synovus Bank Columbus, GA
Synovus Bank Columbus, GA
Synovus Bank Columbus, GA
Synovus Bank 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

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

Page 6
APPROVAL EFFECTIVE 05-28-2010 06-01-2010 05-28-2010 06-01-2010 05-28-2010 06-01-2010 05-28-2010 06-01-2010 05-28-2010 06-01-2010 05-28-2010 06-01-2010 05-28-2010 06-01-2010 Pending Pending Pending Pending Pending

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

Heritage Financial Group, Inc. Baltimore, MD

HeritageBank of the South Albany, GA

Pending

CHECK CASHER LICENSES ISSUED

CITY Atlanta
LaGrange
Covington Camilla
Warner Robins
Moultrie Lavonia
Jonesboro
Fort Valley Savannah
Macon
Newnan Dalton
Newnan
Decatur Decatur
Sparta
Millen Berlin
Lake Park
Dalton Homerville
Duluth
Fort Valley Fort Valley
Ellenton
Fort Valley Roswell

APPLICANT NAME A1 Quick Cheque, LLC
AAH & Co., Inc.
APJ Associates, LLC * Ajay Enterprise, Inc.
* Amin H. Mohamed
* Dipa Enterprises, Inc. * Eutiquio Arroyo
* Golden Jz, Inc.
Gyan-Yagna, Inc. * Jay Ram, LLC
Kartik Corporation
* Laura A. Ochoa M JOP Enterprises, Inc
* MAA Investment Group, Inc.
* MAEB, Inc. * MAQ Inc
* Mahi Shahi, Inc.
* McTeer Oil Co., Inc. * Mira Enterprises, LLC
* Mira Krashna, LLC
* Najuk, Inc. * Nil & Yashil, Inc.
Patiala Food Mart, Inc.
Shetaliyavir, Inc. * Shikha, LLC
* Shreeji Billy Enterprises, LLC
* Shri Ghanshayam, Inc. W.A.T. Consulting, Inc.

TRADE NAME Citgo Truck Stop Speedy Serve Convenience Store
One Stop Amin Money Transfers One Stop #1 Tienda Hispana La Michoacana Citgo Food Mart Knoxville Tobacco Mart Hari's King's Food Mart Latino Mix Services S&G Market BP Food Mart Jax Package _ ABC Liquor Store Texaco Food Mart Rocky's Food Mart McTeer Food & Fuel #1 Kamal Foodmart Big Foot Travel Center #926 Antioch Convenience Quick Change Shell R&R Quick Stop #1 R&R Quick Stop #3 DM Foodmart R&R Quick Stop #2 J's Beverage Depot

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

Page 7

MONEY TRANSMITTER
Frank Tax & Financial Services, LLC Kennesaw, GA
CheckFreePay Corporation Wallingford, CT

MONEY TRANSMITTER LICENSES ISSUED APPROVAL 06-30-2010
06-03-2010

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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