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 June 2019 Reduced Reporting for Covered Depository Institutions Federal banking regulators adopted a final rule to streamline regulatory reporting requirement for small institutions. The final rule implements Section 205 of the Economic Growth Regulatory Relief and Consumer Protection Act and is one step in the agencies efforts to meaningfully streamline reporting requirements. The change permits insured depository institutions with total assets of less than $5 billion that do not engage in certain complex or international activities to file the most streamlined version of the Call Report the FFIEC 051 Call Report. For additional information refer to https //www.federalreserve.gov/newsevents/pressreleases/files/bcreg20190617a1.pdf. Combating Financial Fraud and Identity Theft Providing a tech- and- mobile friendly banking experience is critical to delivering on consumer expectations. In delivering this functionality security measures must be in place for consumers to be willing to maintain a banking relationship. Financial institutions must be willing to facilitate robust fraud and cybersecurity programs that span the entire lifecycle from prevention to detection and resolution. Account holders are often the first line of defense when noticing that something is wrong and most financial institutions have alert systems to detect unusual movement of funds. To provide this type of protection for consumers financial institutions must make investments to proactively recognize and isolate security threats before they turn into large-scale data breaches. Financial institutions can provide protection for an individual s account and implementing protection for account holders identities on an individual level can be a tremendous value for both the consumer and institution. By providing great security measures to consumers financial institutions can build long lasting banking relationships and a customer centered reputation. For additional information refer to https //www.fdic.gov/regulations/resources/cybersecurity/ https //www.ncua.gov/regulation-supervision/regulatory-compliance-resources/cybersecurityresources FDIC and CFPB Host Webinar on Elder Financial Abuse The Federal Deposit Insurance Corporation (FDIC) and Consumer Financial Protection Bureau (CFPB) are co-hosting a webinar to outline strategies to address and prevent elder financial abuse. In particular the webinar will focus on the benefits of appropriate collaboration between financial institutions and law enforcement regarding this issue and will provide financial institutions with resources and strategies to develop strategic relationships. The webinar will take place on July 25 2019 from 2 00 p.m. to 3 00 p.m. ET. NASCUS State System Summit 2019 The National Association of State Credit Union Supervisors (NASCUS) State System Summit 2019 will take place on August 13-16 2019 at the Westin St. Francis San Francisco on Union Square San Francisco California. The State System Summit is a unique event which brings together credit union regulators and practitioners for mutual exchange and dialog. To learn more about this event please visit https //nascus.org Page 2 June 2019 Action on Applications for the Month 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 June 2019 APPLICATIONS FOR NEW FINANCIAL INSTITUTION FINANCIAL INSTITUTION BEGIN BUSINESS CAPITALIZATION APPROVAL DATE DATE Loyal Trust Bank 11675 Medlock Bridge Road Johns Creek GA 30097 Fulton County $ 20 000 000 Pending FINANCIAL INSTITUTION SunTrust Bank Atlanta APPLICATIONS TO ESTABLISH A BRANCH OFFICE BRANCH OFFICE APPROVAL DATE Moorefield Station 43340 Van Geison Terrace Ashburn VA 20148 Loudoun County 06-17-2019 SunTrust Bank Atlanta Miami Beach South 1045 5th Street Miami Beach FL 33139 Miami-Dade County 06-11-2019 SunTrust Bank Atlanta Sebring South 3012 US Highway 27S Suite 115 Sebring FL 33870 Highlands County 06-11-2019 PrimeSouth Bank Blackshear Fernandina Beach 1500 Sadler Road Fernandina Beach FL 32055 Nassau County 06-11-2019 First State Bank of Blakely Blakely Fort Gaines 208 Hancock Street N. Fort Gaines GA 39851 Clay County 06-21-2019 BEGIN BUSINESS DATE Members First Credit Union Decatur Alexander High School 6500 Alexander Parkway Douglasville GA 30135 Douglas County 06-11-2019 First Southern Bank Patterson GEMC Credit Union Tucker Sebring 205 West Center Avenue Sebring FL 33870 Highlands County Charles Hardy Parkway GA Highway 120 (Charles Hardy Parkway) Dallas GA 30157 Paulding County 06-28-2019 06-18-2019 Page 3 The Citizens Bank of Swainsboro Swainsboro Downtown Dublin 101 West Jackson Street Suite B Dublin GA 31021 Laurens County 06-17-2019 June 2019 FINANCIAL INSTITUTION SunTrust Bank Atlanta SunTrust Bank Atlanta SunTrust Bank Atlanta SunTrust Bank Atlanta APPLICATIONS TO CHANGE LOCATION CHANGE LOCATION OF APPROVAL DATE Gladiolus From 11340 Summerlin Square Drive Fort Myers FL 33931 Lee County 06-11-2019 To 11620 Gladiolus Drive Fort Myers FL 33908 Lee County EFFECTIVE DATE Casselberry From 205 East Semoran Boulevard Fern Park FL 32730 Seminole County To 4453 S US Highway 17-92 Casselberry FL 32707 Seminole County 06-11-2019 Plaza Landmark From 5701-B Duke Street Alexandria VA 22304 Alexandria County To 6244A Little River Turnpike Alexandria VA 22312 Alexandria County 06-17-2019 North Ridge From 7029 Harps Mill Rd Raleigh NC 27615 Wake County To 6308 Falls of Neuse Road Raleigh NC 27615 Wake County 02-22-2019 06-21-2019 PREVIOUS NAME Bank of Terrell Dawson NOTICE OF CHANGE IN NAME NEW NAME Georgia Community Bank APPROVAL EFFECTIVE DATE DATE 06-25-2019 SURVIVOR Heritage Bank Jonesboro GA Heritage Bank Jonesboro GA FINANCIAL INSTITUTION MERGERS MERGED INSTITUTION The Heritage Bank Hinesville GA Providence Bank Alpharetta GA APPROVAL EFFECTIVE DATE DATE Pending Pending Page 4 Branch Banking and Trust Company Winston-Salem NC SunTrust Bank Atlanta GA Pending June 2019 APPLICATIONS TO ACQUIRE A FINANCIAL INSTITUTION BANK HOLDING COMPANY TO ACQUIRE APPROVAL DATE BB&T Corporation Winston-Salem NC SunTrust Banks Inc. Atlanta GA Pending 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. Subscribe to Receive this Publication Notice of this publication is delivered to interested parties via e-mail. To subscribe to this publication as well as other items of interest please visit our website at https //dbf.georgia.gov/. Department of Banking and Finance 2990 Brandywine Road Suite 200 Atlanta Georgia 30341-5565 Phone (770) 986-1633 Fax (770) 986-1654 or 1655