Inside this issue:
Action on Applications 2 for the Month
Department Outreach 4 and Upcoming Speaking Engagements
News and topics of interest to financial institutions regulated by the Department of Banking and Finance
February 2019
Reports to the Department
The Department wants to remind banking institutions of the notification requirements as outlined in Department Rule 80-1-6-.01 Reports to Department. Per the Rule, every bank shall within ten (10) days after knowledge thereof report: a) The election of any new chief executive officer or president;
b) The resignation or removal of the chief executive officer, president, or any director, giving the reason for such action;
c) The discharge or suspension of any employee where the reason for such action was dishonest or fraudulent acts or breach of trust by the employee; and
d) The transfer of any common stock of the bank aggregating fifteen (15) percent of the outstanding shares of common stock of the bank or any smaller transfer resulting in the new owner holding in the aggregate more than twenty-five (25) percent of the outstanding common stock of the bank.
The notification should be in letter form and be submitted to the bank's Supervisory Manager within the timeframe outlined by the Rule. The notification should be on the bank's letter head and include at a minimum; the full name of the subject, the effective date or date of occurrence, and the contact information of the person submitting the notification. The notification should be signed and dated.
Introducing IdentityTheft.Gov
The Federal Trade Commission has launched a website that makes it easier for identity theft victims to report the occurrence of identity theft as well as recover from its effects. The website provides an interactive checklist that walks victims through the recovery process and helps them understand which recovery steps should be taken upon learning their identity has been stolen. It also provides sample letters and other helpful resources for victims. In addition, the site offers specialized tips for specific forms of identity theft, including tax-related and medical identity theft. Finally, the site has advice for users who have been notified that their personal information was exposed in a data breach.
For more information refer to: https://www.identitytheft.gov/?utm_source=govdelivery.
Interagency Guidelines on Identity Theft Detection, Prevention
Section 334.90 of Appendix J to Part 334, requires each financial institution and creditor that offers or maintains one or more covered accounts, as defined in 334.90(b)(3) to develop and provide for the continued administration of a written Program to detect, prevent, and mitigate identity theft in connection with the opening of a covered account or the use of any existing covered account. The guidelines outlined in 334.90 are intended to assist financial institutions and creditors in the formulation and maintenance of a Program that satisfies the requirements of 334.90.
For more information about the Program go to https://www.fdic.gov/regulations/laws/rules/20005650.html#fdic2000appendixjtopart334.
Page 2
Action on Applications for the Month
February 2019
The following is a summary of official action taken by the Department on applications by Georgia state-chartered 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 February 2019:
APPLICATIONS FOR NEW FINANCIAL INSTITUTION
FINANCIAL INSTITUTION
BEGIN BUSINESS
CAPITALIZATION APPROVAL DATE
DATE
Tandem Bank 2356 Main Street Tucker, GA 30084 DeKalb County
$ 18,000,000
Pending
APPLICATIONS TO ESTABLISH A BRANCH OFFICE
FINANCIAL INSTITUTION
BRANCH OFFICE
APPROVAL DATE
SunTrust Bank Atlanta
West Midtown 520 17th Street NW Atlanta, GA 30318 Fulton County
02-14-2019
SunTrust Bank Atlanta
Pinnacle Bank Elberton
Sebring Downtown 126 W. Center Avenue Sebring, FL 33870 Highlands County
Gainesville 1948 Jesse Jewell Parkway Gainesville, GA 30501 Hall County
02-14-2019 02-01-2019
BEGIN BUSINESS DATE
FINANCIAL INSTITUTION SunTrust Bank Atlanta
SunTrust Bank Atlanta
SunTrust Bank Atlanta
APPLICATIONS TO CHANGE LOCATION
CHANGE LOCATION OF
APPROVAL DATE
Church Street Station From: 200 South Orange Avenue
Orlando, FL 32801 Orange County
02-14-2019
To: 300 S. Garland Avenue Orlando, FL 32801 Orange County
Sutton Square From: 7029 Harps Mill Road
Raleigh, NC 27615 Wake County
To: 6308 Falls of Neuse Road Raleigh, NC 27615 Wake County
02-22-2019
Glen Burnie From: 100 Crain Highway, S. W.
Baltimore, MD 21061 Baltimore County
02-25-2019
EFFECTIVE DATE
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SunTrust Bank Atlanta
To: 6707-A Ritchie Highway Baltimore, MD 21061 Baltimore County
Pinecrest From: 11333 South Dixie Highway
Miami, FL 33156 Miami-Dade County To: 7840 SW 104th Street Miami, FL 33156 Miami-Dade County
10-09-2018
February 2019 02-22-2019
PROPOSED NAME Atrium Credit Union
Loyal Trust Bank
Magnolia Southern Bank
APPLICATIONS FOR RESERVATION OF A NAME
COUNTY
APPLICANT
Bibb County
Mr. Robert Jordan President/Chief Executive CGR Credit Union 2040 Ingleside Avenue Macon, GA 31204
Fulton County
Mr. James W. Stevens Troutman Sanders LLP 600 Peachtree Street NE, Suite 5200 Atlanta, GA 30308
Dodge County
Ms. Callen Carroll James-Bates-Brannan-Groover-LLP 3399 Peachtree Road NE, Suite 1700 Atlanta, GA 30326
SURVIVOR
Morris Bank Dublin, GA
Colony Bank Fitzgerald, GA
Ameris Bank Moultrie, GA
FINANCIAL INSTITUTION MERGERS
MERGED INSTITUTION Farmers & Merchants Bank Statesboro, GA Calumet Bank LaGrange, GA
Fidelity Bank Atlanta, GA
APPROVAL EFFECTIVE
DATE
DATE
Pending
Pending
Pending
APPLICATION TO ACQUIRE A FINANCIAL INSTITUTION
BANK HOLDING COMPANY
TO ACQUIRE
Ameris Bancorp Moultrie, GA
Fidelity Southern Corporation Atlanta, GA
APPROVAL DATE Pending
Page 4
February 2019
DBF Outreach and Upcoming Speaking Engagements
Dialogue With the Regulators - Commissioner Kevin Hagler, Deputy Commissioner for Supervision Melissa Sneed, and Deputy Commissioner for Legal Affairs Oscar B. Fears will be speaking at the Georgia Credit Union Affiliates Dialogue With the Regulators on March 19, 2019, at Atlanta Postal Credit Union, Atlanta, Georgia.
Grassroots Academy / State GAC Day - Commissioner Kevin Hagler, Deputy Commissioner for Supervision Melissa Sneed, and Deputy Commissioner for Legal Affairs Oscar B. Fears will be speaking at the Georgia Credit Union Affiliates 2019 Grassroots Academy on April 24, 2019, at the James H. Sloppy Floyd Building, 200 Piedmont Avenue, Atlanta, Georgia.
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