Financial institutions today, 2012-05

Inside this issue:

Action on

2

Applications for

the Month of May

Contact

4

Information

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

Monthly Bulletin #5

May 2012

Financial Crimes Enforcement Network E-Filing System
On February 24, 2012, the Financial Crimes Enforcement Network (FinCEN) announced that it was adopting a requirement that all financial institutions subject to Bank Secrecy Act (BSA) reporting use electronic filing (E-Filing) for certain FinCEN reports beginning no later than July 1, 2012. The E-Filing requirement is targeted at improving efficiency; reducing government and industry costs; and enhancing the ability of investigators, analysts, and examiners to gain better and more timely access to information.
BSA E-Filing, which is provided free of charge, offers streamlined BSA information submission; faster routing of information to law enforcement; greater data security and privacy compared with paper forms; long-term cost savings to institutions, individuals, and the government; and ensures compatibility with future versions of FinCEN reports.
Effective July 1, 2012, institutions must submit FinCEN reports electronically unless they are eligible to request a temporary exemption as identified in the final rule.
For more information about BSA E-Filing, please review the E-Filing Section on FinCEN's website. For technology-related questions specific to E-Filing, please contact the BSA E-Filing Help desk at 1-866-346-9478.

HOLIDAY OBSERVANCE--OFFICE CLOSING
This is a reminder that the Department will be closed on Wednesday, July 4th for the Independence Day holiday.
"Safeguarding Georgia's Financial Services"

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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 2012.

APPLICATIONS TO ESTABLISH A BRANCH OFFICE

FINANCIAL INSTITUTION Community & Southern Bank
Atlanta

BRANCH OFFICE Brookhaven Branch Office Town Brookhaven 105 Town Boulevard, Suite A-110 Atlanta, GA 30319 DeKalb County

APPROVAL 05-10-2012

Community & Southern Bank Atlanta

Sugar Hill In-Store Branch Office 6001 Cumming Highway Sugar Hill, GA 30518 Forsyth County

05-10-2012

Georgia Commerce Bank Atlanta

Norcross Branch Office 200 Scientific Drive Norcross, GA 30092 Gwinnett County

05-03-2012

The Citizens Exchange Bank Pearson

Birmingham Branch Office 800 Shades Creek Parkway Suite 100 Birmingham, AL 35209 Jefferson County

Pending

BEGIN BUSINESS

FINANCIAL INSTITUTION (SURVIVOR) Credit Union of Atlanta Atlanta, GA
Justice Federal Credit Union Chantilly, VA
Bank of Upson Thomaston, GA
Bank of Upson Thomaston, GA
Bank of Upson Thomaston, GA

FINANCIAL INSTITUTION MERGERS

MERGED INSTITUTION Atlanta Teachers Federal Credit Union Atlanta, GA
Georgia Department of Public Safety Credit Union Atlanta, GA
The First National Bank of Polk County Cedartown, GA
Peachtree Bank Maplesville, AL
Bank of Chickamauga Chickamauga, GA

APPROVAL EFFECTIVE 05-08-2012
05-29-2012 05-31-2012
Withdrawn 05-07-2012
Withdrawn 05-07-2012
Withdrawn 05-07-2012

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APPLICATIONS TO BECOME A BANK HOLDING COMPANY AND/OR TO ACQUIRE VOTING STOCK OF A FINANCIAL INSTITUTION

FORMATIONS ONLY

BANK HOLDING COMPANY Sterne Agee Group, Inc.
Birmingham, AL

TO ACQUIRE SUM Financial Corporation
Pearson, GA

APPROVAL Pending

CREDIT UNION Georgia's Own Credit Union
Atlanta

NOTIFICATION OF APPROVAL OF APPLICATION TO SERVE A RESIDENTIAL GROUP COMMON BOND

RESIDENTIAL GROUP COMMON BOND Clayton County, GA

APPROVAL 05-31-2012

CHECK CASHER LICENSES ISSUED

CITY Garden City Douglas Jonesboro Marietta Hampton Brunswick East Point Douglasville Tifton Tifton Columbus Norcross Ocilla Ocilla Ocilla McDonough Richland Georgetown College Park Gainesville

APPLICANT NAME * 80 Quick Stop, Inc. * Aarav & Tanya, LLC * Agics Trading, Inc.
Alpha Fuels, Inc. Andy 222, Inc. * Brunswick Finance Company of Glynn, Inc. Eshvar Enterprises, Inc. Family Affairs Etc. LLC * Gregory Lorenzo Moore * Jay Shree Maharaj Sales Corporation Marsha J. Smith * Miselinda Agbaka * Ocilla Liquor Store Inc. * Omni M Corporation * R & N Corporation Rohit, LLC * Supreme Hills, Inc. * The Community Corner, LLC Ukani Sewani Inc. Universal Foodmart, Inc.

TRADE NAME 80 Quick Stop Baker Express Amoco-BP Food Shop Texaco Food Mart Jay's Barber Grocery Brunswick Finance Company Track One Package Store Family Affairs Etc. Moe's Taxes & Resource Shop Speego #1 Villa Nova Beverages Makenzie's Ocilla Liquor Store Omni Food Mart #1 R&N Ocilla Quick Stop Quick Spot #8 Smart 23 Discount Zone US Amoco Texaco Food Mart

* =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 Toll-free: (888) 986-1633 Fax: (770) 986-1654 or 1655

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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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