Financial institutions today, Jan. 1, 2014

Inside this issue:
Emergency 2 Closings of
Financial Institution Locations
(continued)
Georgia 2 Residential Mortgage Act Fee
Reminder
Outreach and 2 Upcoming Speaking
Engagements
Action on 3 Applications for
the Month of January
2014 State 5 Holidays
Contact 6 Information

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

Monthly Bulletin #1

January 2014

Emergency Closings of Financial Institution Locations
The Department of Banking and Finance (Department) received a number of calls and questions related to emergency closing procedures during the most recent winter weather event. We would like to thank all of the institutions that kept us informed of their closure status during the week.
As a reminder, Georgia state-chartered financial institution offices directly affected by severe weather conditions may close under the conditions set forth in Department Rule 80-5-2-.02. Current regulations provide that financial institution management may exercise its own discretion, with notification to the Department, in closing any institution for one business day, with renewal for successive days, upon management's determination that the safety of customers, employees or assets would be in jeopardy due to civil disorder, fire, acts of God, or similar circumstances which render the institution unable to conduct business in a safe manner.
Financial institutions closing due to severe weather should make every effort to reopen as quickly as possible to address the banking needs of Georgia citizens. Weather-related and other emergency closings should be communicated to the Department, preferably by e-mail to dbfcorp@dbf.state.ga.us, as soon as transmission of such notice is feasible. If notification to the Department by e-mail is not possible, communication of such closings may be made by telephone, fax or mail.
In response to questions received during the most recent severe weather, we remind statechartered financial institutions that there is no requirement for a prior posted notice of an emergency closing to customers, as this would not be a practical requirement based on the nature of an emergency closing. However, if possible, posting such notice is ideal. In addition, multiple successive day closings are permissible if a state of emergency is declared, such as it was during the recent winter weather event.
INSTITUTION EMERGENCY CONTACT INFORMATION UPDATES The Department would also like to take this opportunity to remind Georgia state-chartered financial institutions to ensure that their emergency contact information is current with the Department. Please note that the Department's emergency contact database allows a financial institution to store one primary and two alternate contacts.

(Continued on page 2)
"Safeguarding Georgia's Financial Services"

Page 2

January 2014

Emergency Closings of Financial Institution Locations
(Continued from page 1)
The Department recommends that one individual be assigned as administrator to manage the institution's contact information in the Department's system.
Georgia state-chartered banks can update their information here: https://bkgfin.dbf.state.ga.us/BkEmergCont.html
Georgia state-chartered credit unions can update their information here: https://bkgfin.dbf.state.ga.us/CUEmergCont.html

Georgia Residential Mortgage Act Fee Reminder
The $10.00 per loan fees required by O.C.G.A. Section 7-1-1011(b)(2) and Department Rule 80-5-1-.04 are due no later than March 1, 2014, for mortgage loans closed during the period July 1, 2013, through December 31, 2013. A $10.00 fee will be due if the loan is a mortgage loan as defined in the Georgia Residential Mortgage Act ("GRMA"), and if the loan is secured by a deed to secure debt, security deed, mortgage, security instrument, deed of trust, a modification of a security deed, or other form or modification of a security interest which has been recorded.
Financial institutions, mortgage licensees and registrants that act as the collecting agent (including brokers that table fund and collect the fee) must submit the fees and file the fee statement before the deadline to avoid fines.
Per Department Rule 80-5-1-.04(b), GRMA per loan fee reporting / remittance must be completed online through the Department's secure website. Reporting is required even if no mortgage loans were made and no fees are due. To avoid fines for failure to report/remit GRMA fees, reporting must be completed by the deadline noted above.
Reporting and fee payment must be done online from our secure website at: https://bkgfin.dbf.state.ga.us/GRMAFee.html.
DBF Outreach AND UPCOMING SPEAKING ENGAGEMENTS
Commissioner Kevin Hagler will be speaking at the CBA's 6th Annual Bank Directors' & Executive Management Conference being held at the Cobb Energy Performing Arts Center on February 11th. Read more or register for the event. Commissioner Hagler and Deputy Commissioner for Non-Depository Financial Institutions Rod Carnes will be speaking at the Mortgage Bankers Association of Georgia Lobby Day on February 11th.
Senior Deputy Commissioner Steve Pleger and Deputy Commissioner for Legal and Consumer Affairs Bo Fears will be speaking at the Banking and Finance Law seminar put on by the Institute of Continuing Legal Education at the State Bar of Georgia on February 7th. The topic is "Georgia Merchant Acquirer Limited Purpose Bank Charter: The Final Rules."

January 2014

Page 3

Action on Applications for the Month of January:
The following is a summary of official action taken on applications by State Financial Institutions under Chapter 7-1 of the Official Code of Georgia Annotated and petitions for Certificate of Incorporation of Financial Institutions and other matters of interest during the month of January 2014.

APPLICATIONS TO ESTABLISH A BRANCH OFFICE

FINANCIAL INSTITUTION SunTrust Bank
Atlanta

BRANCH OFFICE RiverGate Branch Office 12916 Walker Branch Road Charlotte, NC 28273 Mecklenburg County

APPROVAL 08-09-2013

Metro City Bank Doraville

Centreville, VA In-Store Branch Office 5900 Centreville Crest Lane Centreville, VA 20120 Fairfax County

Pending

S Bank Glennville

Savannah Branch Office 120 Drayton Street Savannah, GA 31401 Chatham County

09-06-2013

The Peoples Bank of Talbotton Talbotton

Ellaville Branch Office 46 East Oglethorpe Street Ellaville, GA 31806 Schley County

01-04-2013

BEGIN BUSINESS 01-27-2014
01-21-2014 01-30-2014

FINANCIAL INSTITUTION MERGERS

FINANCIAL INSTITUTION
(SURVIVOR) Atlanta Postal Credit Union Atlanta, GA

MERGED INSTITUTION Floyd County Postal Employees Credit Union
Rome, GA

Community & Southern Bank Atlanta, GA

Verity Bank Winder, GA

The First National Bank of Polk County Cedartown, GA

Bank of Chickamauga Chickamauga, GA

The First National Bank of Polk County Cedartown, GA

SouthCrest Bank Thomaston, GA

Hamilton State Bank Hoschton, GA

Cherokee Bank, National Association Canton, GA

Community Bank & Trust - West Georgia Community Bank & Trust- Alabama

LaGrange, GA

Union Springs, AL

South Georgia Banking Company Omega, GA

Bank of Dooly Vienna, GA

APPROVAL EFFECTIVE Pending Pending Pending Pending Pending Pending 12-23-2013 01-31-2014

Page 4
PREVIOUS NAME First Citizens Bank of Georgia Dawsonville

NOTICE OF CHANGE IN NAME
NEW NAME Foothills Community Bank

APPROVAL 12-05-2013

January 2014
EFFECTIVE 01-01-2014

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

BANK HOLDING COMPANY Community & Southern Holdings, Inc.
Atlanta, GA

TO ACQUIRE Verity Bank
Winder, GA

APPROVAL 01-08-2014

Hamilton State Bancshares, Inc. Hoschton, GA

Cherokee Bank, National Association Canton, GA

Pending

CREDIT UNION Five Star Credit Union
Dothan, AL

NOTIFICATION OF APPROVAL OF APPLICATION TO SERVE A RESIDENTIAL GROUP COMMON BOND
RESIDENTIAL GROUP COMMON BOND Mitchell County, GA

APPROVAL 01-21-2014

January 2014

Page 5

2014 State Holidays
In accordance with O.C.G.A. 1-4-1, Governor Nathan Deal proclaimed the following dates in 2014 as public and legal state holidays when the Capitol and all State agencies will be closed:

Holiday Name
New Year's Day 2014 Robert E. Lee's Birthday
Martin Luther King Jr.'s Birthday Washington's Birthday
Confederate Memorial Day
Memorial Day Independence Day Labor Day Columbus Day Veterans' Day Thanksgiving Day
Christmas Day

Date Observed
Wednesday, January 1st Sunday, January 19th Will be observed on Friday, November 28th
Monday, January 20th
Monday, February 17th Will be observed on Friday, December 26th
Saturday, April 26th Will be observed on Monday, April 28th Monday, May 26th
Friday, July 4th Monday, September 1st
Monday, October 13th
Tuesday, November 11th
Thursday, November 27th Lee's Birthday will be observed on Friday, November 28th
Thursday, December 25th Washington's Birthday will be observed on Friday, December 26th

Georgia law allows a financial institution to be closed one day each week in addition to Sundays and holidays (O.C.G.A. 7-1-110). Except in the case of an emergency closing, a financial institution must post a notice of intent to close at least 30 days in advance of the closure (O.C.G.A. 7-1-110.1).

Page 6
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

January 2014
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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