Inside this issue:
Action on Applications 2 for the Month
News and topics of interest to financial institutions regulated by the Department of Banking and Finance
December 2016
Streamlined Call Report for Small Banks
On December 30, 2016, the Federal Financial Institutions Examination Council (FFIEC) announced the finalizing of reporting requirements for a new and streamlined Call Report for small financial institutions. The streamlined Call Report would reduce the existing Call Report from 85 to 61 pages, resulting from the removal of approximately 40 percent of the nearly 2,400 data items. The proposed changes would apply to financial institutions with domestic offices only and less than $1 billion in total assets, which represents approximately 90 percent of all institutions required to file Call Reports. Eligible small institutions may begin filing the streamlined Call Report as of March 31, 2017. The FFIEC press release is available at https:// www.ffiec.gov/press/pr123016.htm.
NCUA Outlines Risk-Based Extended Examination Cycle
The National Credit Union Administration (NCUA) announced a new risk-based extended examination cycle effective January 1, 2017. According to Letter to Credit Unions (LTCU) 16CU-12 issued in December 2016, federally insured state-chartered credit unions meeting any one of the following three criteria will receive NCUA examinations that will begin between eight and 12 months from the prior examination completion date: Assets greater than $1 billion; Composite NCUA CAMEL code 4 or 5 with assets greater than $50 million; or Composite NCUA CAMEL code 3 with assets greater than $250 million.
All other federally insured state-chartered credit unions will receive an NCUA examination based on risk, but no less frequently than once every five years.
The NCUA letter also noted that a joint NCUA-state supervisory authority working group is being formed to "evaluate and recommend further changes to the agency's examination program for federally insured, state-chartered credit unions."
LTCU 16-CU-12 may be viewed at https://www.ncua.gov/regulation-supervision/Pages/policycompliance/communications/letters-to-credit-unions/2016/12.aspx.
CFPB Taking Applications for Board and Advisory Councils
The Consumer Financial Protection Bureau (CFPB) is accepting applications for membership to its Consumer Advisory Board (Board), Community Bank Advisory Council, and Credit Union Advisory Council (collectively, Advisory Councils). Members of the Board and Advisory Councils include representatives of consumers, communities, the financial services industry and academics. Appointments to the Board are typically for three years and appointments to the Advisory Councils are typically for two years. Applications for membership on the Board or Advisory Councils are due by March 1, 2017.
Visit https://www.gpo.gov/fdsys/pkg/FR-2016-12-28/pdf/2016-31396.pdf and/or https://consumer -financial-protection-bureau.forms.fm/application-to-serve-on-advisory-board-body-panelcommittee-or-group for more information regarding the Board and Advisory Councils and the membership application process.
Page 2
December 2016
Action on Applications for the Month
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 December 2016:
PREVIOUS NAME
AB&T National Bank Albany, Dougherty County
FINANCIAL INSTITUTION CONVERSIONS
CONVERTED TO
APPROVAL DATE
AB&T
11-30-2016
EFFECTIVE DATE
12-30-2016
Coosa Valley Federal Credit Union Rome, Floyd County
Coosa Valley Credit Union
12-08-2016
APPLICATIONS TO ESTABLISH A BRANCH OFFICE
FINANCIAL INSTITUTION BRANCH OFFICE
APPROVAL BEGIN BUSINESS
DATE
DATE
SunTrust Bank Atlanta
Morningside Heights 1845 Piedmont Avenue NE Atlanta, GA 30324 Fulton County
06-03-2016
12-12-2016
SunTrust Bank Atlanta
Sugarloaf Market Place 2260 Peachtree Industrial Boulevard Suite 110 Duluth, GA 30097 Gwinnett County
12-23-2016
SunTrust Bank Atlanta
Indian Rocks 14040 Walsingham Road Largo, FL 33774 Pinellas County
04-05-2016
12-09-2016
Members First Credit Union Decatur
Main Office 2476 Lawrenceville Highway Decatur, GA 30033 DeKalb County
12-29-2016
Citizens Bank of the South Sandersville
Milledgeville 121 Executive Parkway Milledgeville, GA 31061 Baldwin County
12-20-2016
APPLICATIONS TO CHANGE LOCATION
FINANCIAL INSTITUTION
LOCATION
APPROVAL DATE
SunTrust Bank Atlanta
From:
Kennesaw Marketplace 1184 Barrett Parkway Kennesaw, GA 30144 Cobb County
12-23-2016
EFFECTIVE DATE
Page 3
SunTrust Bank Atlanta
SunTrust Bank Atlanta
SunTrust Bank Atlanta
Farmers State Bank Lincolnton
To: 1340 Ernest W. Barrett Pkwy NW Kennesaw, GA 30152 Cobb County
From: To:
Village of Martinsville 134 East Church Street Martinsville, VA 24112
240 Commonwealth Blvd W Martinsville, VA 24112
Pending
From: To:
Woodruff Park 25 Park Place NE Atlanta, GA 30303 Fulton County
26 Peachtree St NW, #CU-1 Atlanta, GA 30303 Fulton County
12-23-2016
From: To:
The Galvan 1701 Rockville Pike Rockville, MD 20852 Montgomery County
1800 Rockville Pike Rockville, MD 20852 Montgomery County
08-10-2016
From: To:
Thomson 658 Washington Road Thomson, GA 30824 McDuffie County
1197 Washington Road Thomson, GA 30824 McDuffie County
12-14-2016
December 2016 12-09-2016
PREVIOUS NAME
The Peoples Bank of Talbotton Talbotton
NOTICE OF CHANGE IN NAME
NEW NAME The Peoples Bank of Georgia
APPROVAL EFFECTIVE
DATE
DATE
12-06-2016
FINANCIAL INSTITUTION MERGERS
FINANCIAL INSTITUTION (SURVIVOR)
MERGED INSTITUTION
State Bank and Trust Company Macon, GA
The National Bank of Georgia Athens, GA
State Bank and Trust Company Macon, GA
S Bank Glennville, GA
APPROVAL EFFECTIVE
DATE
DATE
12-15-2016 12-31-2016
12-15-2016 12-31-2016
Page 4
December 2016
APPLICATIONS TO BECOME A BANK HOLDING COMPANY AND/OR TO ACQUIRE VOTING STOCK OF A FINANCIAL INSTITUTION
BANK HOLDING COMPANY
First IC Corporation Doraville, GA
TO ACQUIRE
First Intercontinental Bank Doraville, GA
APPROVAL DATE 12-29-2016
DBF OUTREACH
AND UPCOMING SPEAKER ENGAGEMENTS:
GBA Legislative/Economic Forum - Commissioner Kevin Hagler spoke at the Georgia Bankers Association's Legislative/Economic Forum in Atlanta, Georgia, on January 11, 2017.
GCUA 2017 Grassroots Academy Commissioner Kevin Hagler and Deputy Commissioner for Supervision Melissa Sneed will be speaking at the Georgia Credit Union Affiliates' 2017 Grassroots Academy in Atlanta, Georgia, on January 24, 2017. Visit https://gcua.org/education/index.php for more information about this event.
2017 CBA Day at the Capitol Commissioner Kevin Hagler will be speaking at the Community Bankers Association of Georgia's 2017 Community Banking Day at the Capitol in Atlanta, Georgia, on February 15, 2017. For more information about this event, visit http://www.cbaofga.com/.
The Department is the state agency that regulates and examines Georgia state-chartered banks, state-chartered credit unions, state-chartered trust companies, and bank holding companies that own Georgia state-chartered financial institutions. The Department also has responsibility for the supervision, regulation, and examination of Merchant Acquirer Limited Purpose Banks chartered in Georgia.
In addition, the Department has regulatory and/or licensing authority over mortgage brokers, lenders and processors, mortgage loan originators, check cashers, sellers-issuers of payment instruments, money transmitters, and international banking organizations.
Our Mission is to promote safe, sound, competitive financial services in Georgia through innovative, responsive regulation and supervision.
Our Vision is to be a willing and able partner with our regulated entities in order to support vibrant economic growth and prosperity in Georgia.
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Department of Banking and Finance 2990 Brandywine Road, Suite 200 Atlanta, Georgia 30341-5565 Phone: (770) 986-1633 Fax: (770) 986-1654 or 1655 http://dbf.georgia.gov/ Email: dbfpress@dbf.state.ga.us