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