Financial institutions today [Dec. 2016]

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.
Sign-up to Receive this Publication:
This publication is delivered to interested parties via e-mail and is also available from the Department's website at: http://dbf.georgia.gov/ under Publications, Financial Institutions Bulletin.
If you would like to be added to our distribution list, send an e-mail to dbfpress@dbf.state.ga.us stating your name and e-mail address. Please be sure to include "Subscribe to Financial Institutions Bulletin" in the Subject line.
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