Financial institutions today, 2021 January

Inside this issue:

Community Bank

2

Sentiment Index

Speaking

2

Engagements

Action on

2

Applications

News and topics of interest to financial institutions regulated by the Department of Banking and Finance
January 2021
America Saves Week 2021
As part of America Saves Week 2021, scheduled for February 22nd February 26th, the Department is encouraging the community to focus on individual financial wellness. Since 2007, America Saves Week has been an annual celebration as well as a call to action for Americans to commit to saving successfully. The America Saves pledge is the framework that allows savers to set a goal and plan to achieve better financial stability. The 2021 campaign includes the following daily themes:
Save Automatically Save for the Unexpected Save to Retire Save by Reducing Debt Save as a Family
Organizations interested in joining America Saves Week 2021 as a participating organization can find additional information at https://americasavesweek.org/sign-up/. Individuals interested in taking financial action can take the America Saves pledge or re-pledge at https://americasaves.org/for-savers/pledge.

Department Applications Manuals and Statements of Policy

In accordance with the Final Rules adopted by the Department that became effective on January 28, 2021, the Department has updated its Applications Manual for banks and credit unions and Statement of Policy for banks. In addition, the Department has implemented a new Statement of Policy for credit unions. If you have any questions regarding the changes to the Rules, applications, Applications Manuals, or Statements of Policy, then please contact your Supervisory Manager.
Frequently Asked Questions Regarding Suspicious Activity Reporting and Other Anti-Money Laundering Considerations
On January 19, 2021, the Financial Crimes Enforcement Network, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), and the Office of the Comptroller of the Currency, in consultation with the staff of certain other federal functional regulators, issued responses to Frequently Asked Questions (FAQs) Regarding Suspicious Activity Reporting and Other Anti-Money Laundering Requirements.
The FAQs address the following topics: requests by law enforcement to maintain accounts, receipt of grand jury subpoenas and law enforcement inquiries, maintaining customer relationships following the filing of Suspicious Activity Reports (SARs), filing SARs based on negative news media searches, information provided in SAR data and narrative fields, and SAR character limits. The FAQs neither alter existing Bank Secrecy Act/Anti-Money Laundering requirements, nor establish new supervisory expectations.

Page 2
Community Bank Sentiment Index

January 2021

The Conference of State Bank Supervisors publicly released the fourth quarter results of the Community Bank Sentiment Index (CBSI), collecting data from 284 community banks across the nation during the month of December. The results showed a sentiment index of 98 points, up from 97 in the third quarter and the low 90s in the first half of 2020. Prior to the pandemic, the sentiment index averaged in the low 120s. The results indicate that community banker sentiment from the COVID-19 pandemic and the subsequent economic lockdown continues to take a toll. A link to the CBSI can be accessed here. The Department encourages all state chartered banks to participate in the survey.
Speaking Engagements

Deputy Commissioner for Supervision Melissa Sneed will be participating on a regulatory panel for the Georgia Banker's Association's Ops Tech Conference on February 25, 2021. A link to the conference can be accessed here.

ACTION ON APPLICATIONS FOR THE MONTH

The following is a summary of official action taken by the Department on certain applications by Georgia statechartered financial institutions, petitions for certificate of incorporation of financial institutions, and other matters of interest during the month of January 2021:

APPLICATIONS TO FORM A BANK HOLDING COMPANY

FINANCIAL INSTITUTION
Primary Bancshares, Inc. Atlanta, GA

APPROVAL DATE
01-29-21

BEGIN BUSINESS DATE

APPLICATIONS TO ESTABLISH A BRANCH OFFICE

FINANCIAL INSTITUION
OneSouth Bank Blakely, GA

BRANCH OFFICE
1204 US-19 Leesburg, Georgia 31763 Lee County

APPROVAL DATE
01-20-2021

APPLICATIONS TO CHANGE LOCATION

EFFECTIVE DATE

FINANCIAL INSTITUTION CHANGE LOCATION OF

Synovus Bank Columbus, GA

From: 2720 W Tennessee Street Tallahassee, Florida 32304 Leon County

APPROVAL DATE
01-05-2021

To: 1861 W Tennessee Street Suite 230 Tallahassee, Florida 32304 Leon County
APPLICATIONS FOR RESERVATION OF A NAME

EFFECTIVE DATE

PROPOSED NAME M&C Bancshares, Inc.

COUNTY Telfair

APPLICANT James Stevens Troutman Pepper Hamilton Sanders LLP 600 Peachtree Street NE Suite 300 Atlanta, Georgia 30308

Page 3
SUBSCRIBE TO RECEIVE THIS PUBLICATION

January 2021

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

The Department is the state agency that regulates and examines Georgia state-chartered banks, state-chartered credit unions, state-chartered trust companies, international banking organizations, 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, consumer installment loan companies, check cashers, sellers-issuers of payment instruments, and money transmitters.
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.