Financial institutions today, Sept. 2014

Inside this issue:
Key Takeaways 2 from the Second
Annual Community
Banking Research and Policy Conference
State and Federal 2 Regulators Urge
Banks to Address the BASH
Vulnerability
Calendar-Year 3 Annual License
Period for All Money Service
Businesses
Action on 3 Applications for
the Month of September
Contact 7 Information

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

Monthly Bulletin #9

September 2014

Conference of State Bank Supervisors ("CSBS") Kicks Off National Cybersecurity Awareness Month with Initiative Aimed at Community Bank CEOs
On October 1, 2014, the CSBS launched the Executive Leadership of Cybersecurity ("ELOC") initiative, a nationwide effort to promote and encourage community bank CEOs to take leadership of the management of cybersecurity risks at their financial institutions.
"With the rise in frequency and sophistication of cyber-attacks directed at all industries across the nation, and especially the financial services industry, it has never been more important for public and private sector groups to come together to raise awareness of today's internet threats. Collectively, we must find the best solutions for combating these risks," said CSBS President and CEO John W. Ryan.
According to the press release issued by the CSBS, ELOC strives to not only communicate the importance of CEO engagement in a bank's cybersecurity management, but to also provide resources, best practices, and examples for small bank executives to do so in a manageable way. The ultimate goal of the ELOC initiative is to shift the thinking on the part of senior bank executives that cybersecurity is not merely an IT issue. Cybersecurity is an executive level issue that requires CEO and board level engagement.
For more information on the Executive Leadership of Cybersecurity initiative, visit http://www.csbs.org/cybersecurity/Pages/default.aspx.

DBF Outreach AND UPCOMING SPEAKING ENGAGEMENTS
Commissioner Hagler will be participating on a panel at the Georgia Bankers Association's President/ CEO Conference on October 13th. Deputy Commissioner for Legal Affairs Bo Fears will be speaking at the Bank Counsel Conference on October 13th. Both events are being held at The Ritz-Carlton Lodge in Greensboro, GA.
Commissioner Hagler will also be participating in the Community Bankers Association of Georgia's ("CBA") Banker Regulatory Forum on November 6th at the CBA's headquarters in Atlanta. Read more or register for the event.
Senior Deputy Commissioner Steve Pleger and Director for Supervision Pam Keane will be participating in the National Association of State Credit Union Supervisors' ("NASCUS") and Georgia Credit Union Affiliates' ("GCUA") 2014 Georgia Director's College on November 6th in Duluth, GA. Read more or register for the event.

"Safeguarding Georgia's Financial Services"

Page 2

September 2014

Key Takeaways from the Second Annual Community Banking Research and Policy Conference
The second annual Community Banking in the 21st Century Research Conference was held September 23-24, 2014, at the St. Louis Federal Reserve Bank and was co-hosted by the CSBS and the Federal Reserve System. The conference brought together academics, policymakers, bank supervisors, and community bankers to focus on the challenges and opportunities that community bankers face in the 21st century.
The Community Banking in the 21st Century National Survey was administered by state bank commissioners in 38 states, including Georgia. A total of 1,008 community bankers participated in the survey. The goal of the survey was to provide a national view of how bankers are thinking about key issues facing the industry and how they are responding to changes in the market. In addition to the surveys, town hall meetings were held in 30 states, with more than 1,300 bankers participating in this process in 2014. Events ranged from a series of small roundtables to large events with a facilitator.
There were three main discussion focal points: new banks and emerging technologies; the effect of government policy on bank lending and risk taking; and the effect of government policy on community bank viability. More information about the conference, including the research papers that were presented and keynote speaker remarks, is available at http://www.stlouisfed.org/CBRC2014.

State and Federal Regulators Urge Banks to Address the BASH Vulnerability
The Federal Financial Institutions Examination Council ("FFIEC") members are advising financial institutions of a material security vulnerability in the Bourne-again shell (Bash) system software widely used in servers and other computing devices that could allow attackers to access and gain control of operating systems. The vulnerability, nicknamed "Shellshock," could expose organizations and individuals to potential fraud, financial loss, or breaches of confidential information. Given the widespread use of Bash and the evolving nature of the risk, the statement outlines FFIEC member agencies' risk mitigation expectations and provides references for management to monitor the changing threat and vulnerability landscape.
RISK MITIGATION
While vendors are working to patch and update their systems, the FFIEC member agencies expect financial institutions to conduct a risk assessment and address the Shellshock vulnerability as part of ongoing information security and incident response plans. Financial institutions should take the following steps, as appropriate:
Identify all servers, systems, and appliances that use vulnerable versions of Bash and follow appropriate patch
management practices, including conducting a vulnerability scan to detect if the patch is installed and testing to ensure a secure and compatible configuration.
Apply mechanisms to filter malicious traffic to vulnerable services such as appropriate Web application firewall
signatures.
Monitor systems for malicious or anomalous activity and update signatures for intrusion detection and prevention
systems.
Ensure that all third-party service providers are taking appropriate action to identify and mitigate risk and monitor
the status of vendors' efforts to address the vulnerability.
Review systems to determine if this vulnerability has been exploited and, if necessary, conduct a forensic
examination to determine the potential effects of any breach.
Financial institutions are encouraged to establish mechanisms for obtaining threat and vulnerability information such as through the United States Computer Emergency Readiness Team (US-CERT) portal at www.us-cert.gov or through the Financial Services Information Sharing and Analysis Center (FS-ISAC) at www.fsisac.com.

September 2014

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Calendar-Year Annual License Period for All Money Service Businesses ("MSB")
On July 1, 2014, substantial revisions were made to the laws and rules affecting MSBs under Title 7, Chapter 1, Articles 4 and 4A of the Official Code of Georgia Annotated ("O.C.G.A."). Changes to the law extended the annual license year of all check cashers and aligned the renewal period for all MSB license types. Check casher licenses were extended through December 31, 2014, as the annual license period will now be on a calendar-year basis.
This year's renewal process for the annual license year of 2015 will coincide with our transition of licensees onto the Nationwide Multistate Licensing System ("NMLS"). Existing MSBs must request transition through the NMLS to renew their Georgia MSB license for 2015. Please refer to the MSB quarterly and special edition newsletters on the Department's website at http://dbf.georgia.gov/msb-newsletter for more details.

Action on Applications for the Month of September:

The following is a summary of official action taken on applications by State Financial Institutions under Title 7, Chapter 1 of the O.C.G.A. and petitions for Certificate of Incorporation of Financial Institutions and other matters of interest during the month of September 2014.

APPLICATIONS TO ESTABLISH A BRANCH OFFICE

FINANCIAL INSTITUTION Community & Southern Bank Atlanta

BRANCH OFFICE Downtown Woodstock Branch Office 400 Chambers Street Woodstock, GA 30188 Cherokee County

APPROVAL 09-19-2014

BEGIN BUSINESS

PeoplesSouth Bank Colquitt

Panama City Branch Office 607 S Tyndall Parkway Panama City, FL 32404 Bay County

09-03-2014

PeoplesSouth Bank Colquitt

Tallahassee Branch Office 2920 Kerry Forest Parkway Tallahassee, FL 32317 Leon County

09-03-2014

Metro City Bank Doraville

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

02-03-2014

08-11-2014

Fidelity Bank Norcross

Alpharetta Branch Office 5015 Windward Parkway Alpharetta, GA 30004 Fulton County

10-18-2013

09-08-2014

Fidelity Bank Norcross

Mandarin Branch Office 10024 San Jose Boulevard Jacksonville, FL 32257 Duval County

07-07-2014

09-19-2014

Fidelity Bank Norcross

Lake Mary Branch Office 3505 West Lake Mary Boulevard Lake Mary, FL 32746 Seminole County

07-07-2014

09-19-2014

Page 4 FINANCIAL INSTITUTION Fidelity Bank Norcross
Fidelity Bank Norcross
Fidelity Bank Norcross
Fidelity Bank Norcross
The Citizens Exchange Bank Pearson
The Citizens Exchange Bank Pearson
Guardian Bank Valdosta

BRANCH OFFICE Orange City Branch Office 2494 Enterprise Road Orange City, FL 32763 Volusia County
Ponte Vedra Branch Office 110 A1A North Ponte Vedra Beach, FL 32082 St. Johns County
St. Augustine Beach Branch Office 3570 A1A South St. Augustine, FL 32080 Saint Johns County
Winter Garden Branch Office 12901 West Colonial Drive Winter Garden, FL 34787 Orange County
Main Office 1500 Newcastle Street Brunswick, GA 31520 Glynn County
Saint Simons Island Branch Office 60 Midway Square Saint Simons Island, GA 31522 Glynn County
Pearson Branch Office 82 Railroad Avenue East Pearson, GA 31642 Atkinson County

APPROVAL 07-07-2014

September 2014
BEGIN BUSINESS 09-19-2014

07-07-2014

09-19-2014

05-19-2014

09-29-2014

07-07-2014

09-19-2014

Pending

Pending

Pending

FINANCIAL INSTITUTION Ameris Bank Moultrie

APPLICATION TO CHANGE LOCATION

CHANGE LOCATION OF Drayton Street Branch Office From: 18 West Bryan Street Savannah, GA 31401 Chatham County To: 26 Drayton Street Savannah, GA 31401 Chatham County

APPROVAL Pending

EFFECTIVE

PREVIOUS NAME Macon Police Credit Union Macon
The Citizens Exchange Bank Pearson

NOTICE OF CHANGE IN NAME
NEW NAME Consolidated Public Safety Credit Union

APPROVAL 07-25-2014

EFFECTIVE 09-01-2014

South Coast Bank & Trust

Pending

September 2014

Page 5

APPLICATION FOR RESERVATION OF A NAME

PROPOSED NAME First Federal Savings Bank of Valdosta

COUNTY Lowndes County

APPLICANT Mr. Richard T. Hills Waller Lansden Dortch & Davis, LLP 511 Union Street, Suite 2700 Nashville, TN 37219

FINANCIAL INSTITUTION MERGERS

FINANCIAL INSTITUTION (SURVIVOR) HeritageBank of the South Albany, GA

MERGED INSTITUTION Alarion Bank Ocala, FL

Community & Southern Bank Atlanta, GA

Alliance National Bank Dalton, GA

Georgia's Own Credit Union Atlanta, GA

SPC Federal Credit Union Atlanta, GA

Members First Credit Union Decatur, GA

Fidelity Federal Credit Union Sandy Springs, GA

The Farmers Bank Forsyth, GA

The Bank of Perry Perry, GA

The Farmers Bank Forsyth, GA

The Peoples Bank Covington, GA

The Farmers Bank Forsyth, GA

Spivey State Bank Swainsboro, GA

Community Bank & Trust - West Georgia LaGrange, GA

Community Bank & Trust- Alabama Union Springs, AL

State Bank and Trust Company Macon, GA

Bank of Atlanta Atlanta, GA

First Landmark Bank Marietta, GA

Midtown Bank & Trust Company Atlanta, GA

Southeastern Federal Credit Union Valdosta, GA

Nashville Credit Union Nashville, GA

APPROVAL 09-30-2014

EFFECTIVE 09-30-2014

09-12-2014

09-19-2014

09-26-2014

09-03-2014

Pending

Pending

Pending

Pending

09-17-2014

09-12-2014

Pending

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

BANK HOLDING COMPANY

TO ACQUIRE

APPROVAL

FORMATIONS MetroCity Bankshares, Inc. Doraville, GA

Metro City Bank Doraville, GA

Pending

Liberty First Bancshares, Inc. Monroe, GA

Liberty First Bank Monroe, GA

Pending

Page 6
BANK HOLDING COMPANY
ACQUISITIONS WB&T Bankshares, Inc. Waycross, GA

TO ACQUIRE
The Citizens Exchange Bank Pearson, GA

September 2014 APPROVAL Pending

Action on MALPB Applications for the Month of September:
The following is a summary of official action taken on applications for a Merchant Acquirer Limited Purpose Bank ("MALPB") charter under Title 7, Chapter 9 of the O.C.G.A. during the month of September 2014.

APPLICATION FOR AN MALPB CHARTER

NAME Credorax Bank North America, MALPB c/o Margaret D. Higginbotham, CPA 970 York Cove Milton, GA 30004 Fulton County

APPROVAL Pending

BEGIN BUSINESS

HOLIDAY CLOSING
This is a reminder that the Department will be closed on Monday, October 13th for Columbus Day.

September 2014
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 7
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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