THE TABLE OF CONTENTS IN THIS REPORT CONTAINS LINKS TO EACH ITEM. Go to TOC STATE OF GEORGIA DEPARTMENT OF BANKING AND FINANCE 2002 Annual Report This page was intentionally left blank. MESSAGE FROM ACTING COMMISSIONER SORRELL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2 STRUCTURE OF THE DEPARTMENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4 ADVANTAGES OF A STATE CHARTER . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 MAIN OFFICE STAFF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6 DISTRICT PERSONNEL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8 EXAMINATION DISTRICTS AND WORK AREAS (MAP) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11 SUPERVISORY ACCREDITATIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12 STRATEGIC PLANNING INITIATIVES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13 LEGISLATIVE HIGHLIGHTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14 FISCAL REPORT (RECEIPTS AND DISBURSEMENTS) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 SUMMARY OF ACTIVITIES OF STATE CHARTERED FINANCIAL INSTITUTIONS . . . . . . . . . . . . . . . . . . . . . .16 2002 STRUCTURE ACTIVITY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17 STATE-CHARTERED FINANCIAL INSTITUTIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17 OTHER LICENSEES, REGISTRANTS, AND REGULATED ENTITIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . .20 COMPARATIVE REPORTS OF CONDITION OF STATE-CHARTERED BANKS . . . . . . . . . . . . . . . . . . . . . . . . .22 COMPARATIVE STATEMENT OF EARNINGS AND EXPENSES OF STATE-CHARTERED BANKS . . . . . . . . . . . .23 LIST OF STATE BANKS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .24 LIST OF NATIONAL BANKS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .30 BANK HOLDING COMPANIES AND THEIR BANK SUBSIDIARIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . .32 COMPARATIVE REPORTS OF CONDITION OF STATE-CHARTERED CREDIT UNIONS . . . . . . . . . . . . . . . . . .47 COMPARATIVE STATEMENT OF EARNINGS AND EXPENSES OF STATE-CHARTERED CREDIT UNIONS . . . . .48 LIST OF STATE-CHARTERED CREDIT UNIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .49 LIST OF FEDERAL CREDIT UNIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .51 SALE OF CHECKS OR MONEY ORDER CORPORATIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .54 MORTGAGE DIVISION - SUMMARY OF ACTIVITIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .55 FOREIGN BANKING ORGANIZATIONS DOING BUSINESS IN GEORGIA . . . . . . . . . . . . . . . . . . . . . . . . . . . .56 INTERNATIONAL BANK AGENCIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .56 INTERNATIONAL BANK FACILITIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .56 INTERNATIONAL REPRESENTATIVE OFFICES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .57 DOMESTIC REPRESENTATIVE OFFICES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .58 NOTE: Unless otherwise noted, all information and data throughout this Report is presented as of December 31, 2002. -1- MESSAGE FROM THE ACTING COMMISSIONER David G. Sorrell Acting Commissioner Our mission .... is to promote the availability of safe, sound and competitive financial services through responsive, high quality regulation and supervision and the protection of the interest of consumers. 2002 was a year full of economic uncertainty for our nation and our State. Business capital investment remained flat. Georgia led the nation in jobs lost. Consumer spending, particularly on housing due to historic low interest rates, was the bright spot and supported the economy during this period of uncertainty. The question is how long the consumer will continue to support the economy without business investment and spending. Households have had to deal with adjusting to layoffs and a stressed labor market. With historically high levels of consumer debt and an increasing number of public companies in financial distress, bankruptcy filings continue to break historic records. Georgia's economy has shown signs of moderate improvement during the first quarter of 2003, but the consequences of the war with Iraq will likely determine the extent of Georgia's economic improvement and the extent and speed of a recovery. Predatory lending and other consumer protection issues continued to be the focus of attention for Georgia and other States across the nation. Legislation to prevent predatory mortgage lending in Georgia passed in the 2002 legislation session and became effective October 1, 2002. This consumer protection law was designed to protect homeowners and the equity in their homes and was one of the most stringent laws in the country addressing predatory mortgage lending. The law was amended on March 6, 2003, (Senate Bill 53) to address secondary market assignee liability issues and credit availability issues. Governor Sonny Perdue signed SB53 on March 7, 2003, and it became effective immediately upon signing. The Department's strategic focus remains its primary mission of maintaining the safety and health of Georgia's financial institutions and to assure those institutions have the ability to provide competitive and accessible services to all Georgians. Despite the weak economy and the resultant increasing credit and funding risks, Georgia financial institutions recorded another safe and sound year in 2002. Capital levels remained strong and earnings continued to be adequate even with increased expenses for loan loss reserves. Heightened balance sheet risk combined with economic weakness could lead to further asset quality concerns; however; the majority of Georgia financial institutions appear to be managing the stresses. Safety and soundness concerns are manageable, but continue to require financial institution and regulator vigilance due to the general economic weaknesses. The rapid rate of change and complexity in the depository financial institutions industry and the financial services industry continues to present the Department and those regulated institutions with significant challenges. The continued evolution of interstate banking/branching, the continuation of consolidation in the financial services industry, the impact of technology and technology risks on the operations of financial institutions, the ever increasing competition from non-regulated financial services providers, and the globalization of the financial services industry are prime examples of these challenges. -2- MESSAGE FROM THE ACTING COMMISSIONER Bank consolidation through mergers and acquisitions continued at a steady pace during 2002, contributing somewhat to the continuation of new bank chartering activity. Eleven new state bank charter applications were filed with the Department during the year, eight of which were approved during 2002. Three applications received in 2001 were approved in 2002. In addition, one bank charter application was pending approval and two had not yet been accepted for filing at the end of the year. One application for a credit union charter was filed with the Department in 2002, but was later withdrawn. The Department now regulates over 2,900 residential mortgage brokers, lenders, and registrants. The regulation and supervision of these entities require significant Department resources. The Department's mortgage division and legal and consumer affairs division continue to address and investigate consumer issues including instances of alleged predatory mortgage lending in Georgia and residential mortgage fraud. The Department continues to implement strategic plan initiatives to better equip the organization to handle the rapidly evolving regulatory services environment. Putting the right people in the right places doing, as efficiently as possible, the right things to achieve its mission and realize its vision is a major Department strategic initiative. The Department's ability to maintain an experienced and well-trained staff is a critical factor in our ability to accomplish this initiative. Our staff remains committed to providing professional, responsive, efficient regulation and supervision and to promoting a safe, sound, competitive and accessible financial services industry that is responsive to the financial services needs of Georgia citizens. The Department's legislative housekeeping for 2002 addressed the following areas: (1) clarifying objectives for the Department's regulation of non-financial institution entities; (2) making minor corrections due to federal law changes; and (3) providing better consumer protection on residential mortgage transactions. The Department's 2003 legislative housekeeping will primarily consist of: (1) a provision to allow for the formation of banks as limited liability companies, (2) a provision for licensing and regulation of money transmitters, (3) clarifications of law and enhancements to regulation of the mortgage industry, and (4) other changes to assist the Department in keeping statechartered institutions competitive with federally chartered ones. -3- STRUCTURE OF THE DEPARTMENT Functionally, the Georgia Department of Banking and Finance is directly under the Governor's office. The Department is headed by a Commissioner who is appointed by the Governor to serve a four year term. The Commissioner is assisted by a Senior Deputy Commissioner. Due to the retirement of Commissioner Steve Bridges in January 2002, Senior Deputy Commissioner David G. Sorrell is currently Acting Commissioner for the Department. The Department's operations are divided along functional lines: Supervision, Administration, Mortgage, Corporate, and Legal and Consumer Affairs. These divisions are headed by Deputy Commissioners, except for Corporate which reports directly to the Senior Deputy Commissioner. Mortgage Division: The Mortgage Division is responsible for the licensing, regulation and examination of mortgage lenders and brokers who are licensees and registrants under the law. The Mortgage Division is headed by Deputy Commissioner for Mortgage Robley S. Rigdon. Legal and Consumer Affairs Division: The Legal Division is responsible for providing legal advice and legislative drafting support for the Commissioner and staff. The Consumer Affairs section handles consumer complaints regarding financial institutions and mortgage licensees and registrants. The Division is headed by Deputy Commissioner for Legal and Consumer Affairs Leslie A. Bechtel. Supervisory Division: The Supervisory Division is responsible for the supervision, regulation and examination of depository financial institutions and their affiliated companies that fall under the regulatory authority of the Department. Such institutions include banks, trust companies, bank holdingcompanies, credit unions and international banking organizations. The Division is responsible for the supervision of the Department's six examination districts, which have district work areas located in various geographic regions of the state to facilitate the supervisory process. A Large Institutions Supervision District was established to handle large, complex, and wholesale financial institutions. The Supervisory Division is headed by Deputy Commissioner for Supervision George A. Reynolds. Corporate Division: The Corporate Division's primary responsibilities are application/registration processing for all areas under the supervision of the Department, with the exception of mortgage applications. The Division is also responsible for the licensing and supervision of check cashers and sale of check companies. The Director of Corporate Affairs and Strategic Initiatives, Carol Webb, oversees the Division and has responsibility for the Department's strategic planning initiatives, risk management and quality assurance programs, website update/management, and special projects. The Division ultimately reports to the Senior Deputy Commissioner. Administrative Division: The Administrative Division is responsible for human resource management, budgeting, accounting services, information systems, training activities, property management and records management. The Division is headed by Deputy Commissioner for AdministrationDavid A. Hancock. -4- ADVANTAGES OF A STATE CHARTER We believe that the state charter offers several distinct benefits: Local, Responsive, and Timely Decision Making State-chartered banks and credit unions have local access to decision makers in Georgia who are familiar with the unique competitive environment that those institutions face. Top decision makers can be easily reached for timely responses to questions and concerns from state-chartered institutions. Decision Makers More Knowledgeable of Local Communities and Local Market Conditions The Department's management philosophy promotes decision making at the lowest possible level with quick access to senior management, when necessary, thereby ensuring responsive and timely action on all types of issues. In addition to the Administrative Staff in Atlanta, the Department has field offices throughout the state which are responsible for examination and supervision of banks and credit unions in their designated districts. Examiners live in the area where they examine these institutions and are familiar with the local market and community. Therefore, the Department is able to perform its regulatory function in a firm, yet fair manner, responsive to the particular needs of an institution. Competent Regulation and Supervision The philosophy of theDepartment is that all financial institutions deserve firm, fair, and consistent regulation and supervision. The Department is nationally accredited through the Conference of State Bank Supervisors and the National Association of State Chartered Credit Union Supervisors. Regulatory activities are conducted in cooperation with federal and other state regulators through joint examinations and interstate agreements. Cooperation with federal regulators allows for examinations to be conducted on an alternative schedule; therefore, most banks are examined by federal regulators only once in two to three years. More Cost Effective Regulation and Supervision Annual regulatory assessment fees, hourly examination fees, and some application fees are substantially less than comparable federal charters. In the last several years, the Department's annual regulatory assessments have averaged one-half the cost of comparable federal assessments. Hourly examination fees assessed for specialty exams are almost half the rate of comparable hourly fees charged by federal regulators. Some application fees, including the bank charter application, are typically lower than comparable fees assessed by the federal regulators. Authorized Powers Comparable to or Greater Than Federal Powers State-chartered institutions have comparable powers to federal institutions in all areas of operation. Further, the Georgia Financial Institutions Code contains a parity provision allowing the Commissioner to issue regulations to authorize a state institution to conduct an activity allowed for a federal institution unless such activity is expressly prohibited by state law. Therefore, should you discover a situation where you feel a state institution is disadvantaged versus a federally-chartered institution, you could petition the Department to use the parity provision to authorize the activity for a state institution. Georgia banking law permits activities which are incidental or complimentary to banking activities simply by written request to the Commissioner. Additionally, state banks can conduct activities not authorized for national banks, provided such activities are authorized under state law and approved by the FDIC under Section 24 of the FDI Act. -5- MAIN OFFICE STAFF (As of March 15, 2003) DAVID G. SORRELL, CEM, Acting Commissioner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1628 Senior Deputy Commissioner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (vacant) Sonja Hencely, Secretary to Commissioner, Office Supervisor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1621 Susan Brown, Administrative Assistant . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1620 ADMINISTRATIVE DIVIS ION Human Resource Management, Accounting and Budget, Training, Information Services, Property Management, and Records Management . DAVID A. HANCOCK, CEM, Deputy Commissioner for Administration . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1640 Denise Leaphart, Data Resource Manager. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1651 Ralph Shire, CEM, IS Database Integrator . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1383 Vicki Brantley, CFE, Training Manager . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 478-275-6869 Dawn Schlich, Accounting Manager . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1641 Charlene Haynie, Payroll Supervisor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-5038 Renate Carroll, Paraprofessional Accountant . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1632 Kristy Nix, Personnel Officer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1638 Sheila Ball, Secretary/Receptionist . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1633 Bonnie Steele, Secretary/Receptionist . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1634 Kaushik Mehta, Support Services Officer. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1622 SUPERVISORY DIVIS ION Bank, Holding Company, Credit Union and International Bank Supervision, and Investment Securities. GEORGE A. REYNOLDS, CPA, CFE, CEM, Deputy Commissioner for Supervision. . . . . . . . . . . . . . . . . . 770-986-1629 Grace Lurry, CFE, CEM, Director for Supervision. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1646 Merian Johnson, Administrative Assistant . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1658 Betty Thomas, Administrative Assistant . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1656 Susan Weissinger, Secretary III . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1659 Princess Brown, CFE, CEM, Supervisory Manager . . . . . .Banks-North, Trust. . . . . . . . . . . . . . . . . . . 770-986-1643 Janet Blackmon, CEM, Supervisory Manager . . . . . . . . . . . .Banks-South, Capital Markets . . . . . . . . . . 770-986-1636 Wayne Orr, CPA, CEM, Supervisory Manager. . . . . . . . . .Credit Unions, International Agencies . . . . 770-986-1637 Harold Carney, CEM, District Information Systems Specialist . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1624 -6- MORTGAGE DIVIS ION MAIN OFFICE STAFF (As of March 15, 2003) Licensing of Mortgage Brokers, Lenders, Registrants,ConsumerProtection; and Mortgage Supervision/Investigation, Regulatory, and Examination Activities. ROBLEY S. RIGDON, CFE, CEM, Deputy Commissioner for Mortgage. . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1371 Drexel Beck, CEM, Director for Mortgage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-5036 Melinda G. Kinard, CEM, Director for Mortgage Licensing and Administration. . . . . . . . . . . . . . . . . . . . 770-986-1649 Larry Moor, CEM, Supervisory Manager - Licensing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1373 Larry Shelley, CEM, Supervisory Manager - Regulation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1372 Janet Anderson, Review Examiner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1268 Deborah Long, Administrative Assistant . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-2810 Cathy Childs, Secretary III. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-5027 Irene Harper, Secretary III . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-5035 Brenda Harrell, Secretary III . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1136 LEGAL AND CONSUMER AFFAIRS DIVISION Legal Advice and Research; Legislation and Regulation Drafting; Receiving and Processing of Consumer Inquiries and Complaints; and Implementation of the Administrative Procedures Act. LESLIE A. BECHTEL, Deputy Commissioner for Legal and Consumer Affairs. . . . . . . . . . . . . . . . . . . . . . . 770-986-1650 Tyra Buckley, Consumer Outreach and Education Specialist. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1642 Jenny Neville, CEM, Senior Consumer Specialist.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-2812 Mark Simpson, Administrator for Consumer Affai rs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-2809 Carol Grafman, Research Analyst . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1648 Laurie Culpepper, Administrative Assistant . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1007 CORPORATE DIVIS ION Application Processing of all Bank, Credit Union, Bank and Thrift Holding Company Applications, Corporate Charter Amendments, International Bank Licensing, International Bank Facility Permits , Loan Production Offices, Sal e of Check Li censing/Supervision, Check Cashers Licensing/Supervision. The Division also generates the Department's Annual Report, Department Monthly Bulletins, Statistical Reports. The Director of this Division has responsibility for Strategic Planning Activities, Risk Management, Quality Control and Assurance, and Website Monitoring/Update. CAROL WEBB, CEM, Director of Corporate Affai rs and Strategic Initiatives . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1386 Murali Ramachandran, Corporate Manager . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1645 Tervenia Mitchiner, Administrative Assistant - Districts 1, 2 & 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1639 Susan Nelson, Administrative Assistant - Districts 4 & 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770-986-1652 -7- DISTRICT PERSONNEL (As of March 15, 2003) Northwest District 1 - Woodstock Address: 645 Molly Lane, Suite 140, Woodstock, Georgia 30189 Phone: (770) 928-1803 Fax: (770) 928-6209 ROBERT BRASWELL, CEM. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .District Director Kevin Hagler . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Supervisory Examiner Sandra Shel ey, CEM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Supervisory Examiner Ernest Coats . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Senior Financial Examiner Ira Goolsby . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Senior Financial Examiner Lori Godfrey . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Financial Examiner Victor Greene . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Financial Examiner Daisy Mitchell . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Financial Examiner Larry Moody . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Financial Examiner William R. Parker . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Financial Examiner Mark Pressler . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Financial Examiner Melissa Sneed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Financial Examiner Victoria Busby . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Administrative Assistant Northeast District 2 - Loganville Address: 3715 Harrison Road, Suite 100, Loganvill e, Georgia 30052 Phone: (770) 554-0676 Fax: (770) 554-5915 TRACY WHITESIDES, CPA, CEM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .District Director Michael Killeen, CEM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Supervisory Examiner Michael Rosser . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Supervisory Examiner Ned Overby . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Senior Financial Examiner Michael Tarrh . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Senior Financial Examiner Michael Dunagan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Financial Examiner Jason Ochs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Financial Examiner Heather Sartain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Financial Examiner Ned Butler . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Assistant Financial Examiner William Warnock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Assistant Financial Examiner Debbie Bloomquist . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Administrative Assistant Central District 3 - College Park Address: 510 Plaza Drive, Suite 1230, College Park, Georgia 30349 Phone: (404) 559-4937 Fax: (404) 559-6622 BARRY ROOKS, CFE, CEM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .District Director Gregory Lowe . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Supervisory Examiner Dennis McNeer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Supervisory Examiner Sandra Hunter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Senior Financial Examiner George Campbell . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Financial Examiner Ricky Wynn . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Financial Examiner Rhonda Brook . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Assistant Financial Examiner Gloria Jack . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Assistant Financial Examiner Deborah Latimer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Administrative Assistant -8- DISTRICT PERSONNEL (As of March 15, 2003) Southeast District 4 - Dublin Address: P.O. Box 965, Dublin, Georgia 31040 Phone: (478) 275-6740 Fax: (478) 275-6742 GARY FORD, CFE, CEM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .District Director Michael Hooks, CPA, CEM, CFE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Supervisory Examiner Mark Smith . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Senior Financial Examiner Janet Bryan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Senior Financial Examiner Robert Herndon . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Financial Examiner Ashlee Torpy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Financial Examiner Spencer Mullis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Assistant Financial Examiner Darla Williams . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Assistant Financial Examiner Emily Fennell . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Administrative Assistant Savannah Office Address: 6555 Abercorn Street, Suite 222, Savannah, Georgia 31405 Phone: (912) 356-2770 Fax: (912) 356-2769 David Widincamp, CEM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Supervisory Examiner Billy Wilson . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Senior Financial Examiner Michael Bryan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Senior Financial Examiner Patrick Brahana, CFE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Financial Examiner Southwest District 5 - Douglas Address: 211 E. Ashley Street, Suite 100, Douglas, Georgia 31533 Phone: (912) 389-4248 Fax: (912) 389-4287 LARRY HERNDON, CEM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .District Director JaneWhitfield, CEM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Supervisory Examiner James Johnson . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Assistant Financial Examiner John Sonnier . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Assistant Financial Examiner Sue Ann Tucker . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Assistant Financial Examiner Suzanne Usry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Assistant Financial Examiner Judy Powell . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Administrative Assistant Albany Office Address: 2402 Dawson Road, Suite 5, Albany, Georgia 31707 Phone: (229) 430-4407 Fax: (229) 430-4056 Larry Duke, CFE, CEM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Supervisory Examiner Eugene Cline . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Senior Financial Examiner Terry Tucker . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Senior Financial Examiner Valdosta Office Address: 2215 Bemiss Road, Suite F, Valdosta, Georgia 31602 Phone: (229) 333-5299 Fax: (229) 333-2139 Joyce Jones, CEM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Supervisory Examiner Kay Tillman Green . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Senior Financial Examiner Virginia Marable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Senior Financial Examiner John Sutphin, III . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Senior Financial Examiner Eddie Strom . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Financial Examiner -9- DISTRICT PERSONNEL (As of March 15, 2003) Large Institution Supervision District - Decatur Address: 755 Commerce Drive, Suite 912, Decatur, Georgia 30330 Phone: (404) 638-5102 Fax: (404) 638-5110 ROBERT ROSENTRETER, CEM, District Director . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(404) 638-5103 Lori Binford, CEM, Supervisory Examiner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(404) 638-5104 Steve Pleger, Supervisory Examiner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(404) 638-5109 Amy Johnson, Credit Specialist . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(404) 638-5105 Evans Yancy, Credit Specialist . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(404) 638-5107 Karen Tatem, Information Technology Specialist . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(404) 638-5108 Laura M. Millen, Trust Specialist . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(404) 638-5106 Mortgage Division - District Examination Staff* Address: 2990 Brandywine Road, Suite 200, Atlanta, Georgia 30341 Phone: (770) 986-1269 or 1017 Fax: (770) 986-1029 * The mortgage examination staff works di rectly under the supervision of the Director for Mortgage. Mortgage examiners may be contacted through the Department's Mortgage Division at the address and phone numbers shown above. DREXEL BECK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Director for Mortgage Rod Carnes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Special Investigations Examiner Kathie Heale . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Special Investigations Examiner James Mills, CFE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Senior Financial Examiner - Mortgage Joel Byers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Financial Examiner-Mortgage Diane Hester . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Financial Examiner-Mortgage Teresa Koeppel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Financial Examiner-Mortgage Tracy Robbins . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Financial Examiner-Mortgage Lisa Baker . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Assistant Financial Examiner-Mortgage Thomas Filloramo . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Assistant Financial Examiner-Mortgage Laura Losch . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Assistant Financial Examiner-Mortgage Keith Prather . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Assistant Financial Examiner-Mortgage Anthony White . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Assistant Financial Examiner-Mortgage -10- EXAMINATION DISTRICTS AND WORK AREAS 1 2 District Main Office Large Institutions 1 2 3 4 5 Location Atlanta Decatur Woodstock Loganville College Park Dublin Savannah Douglas Albany Valdosta 3 4 5 Main Office Location Large Institutions District Office Location* Districts 1-5 Office Locations 1-5 Areas Covered by Districts 1-5 The above map is primarily for the purpose of exhibiting geographical district boundaries based on current institution assignments. However, some districts may have institutions assigned in other geographical areas of the state due to multibank holding companies and/or district workload and scheduling issues. *NOTE: The Large Institutions Supervision District is responsible for the supervision and examination of large institutions. -11- SUPERVISORY ACCREDITATIONS On December 18, 1998, the Department of Banking and Finance's accreditation was renewed by the Conference of State Bank Supervisors (CSBS). The review team commended the Department on its many efforts to enhance and streamline operations. The CSBS Accreditation Program identifies banking departm ents that serve the citizens of their state by operating a capable and professional regulatory program. The Department's reaccreditation review with CSBS is scheduled for June 2003. The National Association of State Credit Union Supervisors (NASCUS) has a similar accreditation program that was developed and implemented for state credit union supervisory agencies. On September 24, 2001, the Department of Banking and Finance's accreditation was renewed by NASCUS. The NASCUS Performance Standards Committee determined that the Department continues to meet the criteria necessary to fulfill its statutory responsibility to charter, examine, supervise, and regulate the credit unions chartered under the laws of the State of Georgia. Both of these accreditation programs are designed to provide an opportunity and a system for state regulatory agencies to improve and enhance their credibility through an accreditation process involving a comprehensive self-evaluation and an independent review of the Department's operations. Theseprograms are available on a voluntary basis, self-initiated, and have the following goals: To foster continuity and uniformity of supervision and regulation of state-chartered commercial banks and credit unions; To identify and correct Department weaknesses and to capitalize on the Department's strengths; And, to enable t he Department to better perform its responsibilities of chartering, regulating, examining and supervising state-chartered institutions in order to assure safety and soundness, legal compliance, integrity of the industries, and responsive service. -12- STRATEGIC PLANNING INITIATIVES The Department of Banking and Finance's first strategic plan was developed in 1995. The plan is reviewed on an annual basis to ensure that it remains current. The main focus of the Department's strategic plan is on maintaining a sound, competitive and accessible financial system for the citizens of Georgia. The Department initiated its FY2003 strategic planning process in February 2002 with the aid of a Strategic Planning Taskforce. The FY2003 process was primarily an update process to the FY2002 plan and represented a consolidated effort to meet the planning requirements of the Governor's Office of Planning and Budget (OPB), Georgia Technology Authority (GTA), and Georgia Merit System (GMS). The Department's Mission and Vision Statements are as follows: MISSION STATEMENT The Department will promote the availability of safe, sound and competitive financial services through responsive, high quality regulation and supervision and the protection of the interest of consumers. VISION STATEMENT The Department will provide a progressive, safe and sound regulatory environment where financial service providers can efficiently and responsibly deliver a broad range of products and services, responsive to the economic needs of Georgia. The Department has taken steps to eliminate those goals and objectives that could not be accurately measured, to consolidate goals that had a similar underlying focus or direction, and to focus attention on those goals and objectives that are of the highest significance. Each strategic goal will be carried out through a number of strategic objectives - defined primarily in terms of shortterm objectives (1-2 years). The Taskforce has prioritized strategic objectives that will command the short-term and intermediate focus of the Department. As a result of the 2002 planning session and through other correspondence and meetings with staff, the strategic plan was reviewed and updated to represent the Department's strategic goals, objectives, strategies, and performance measurements for the next few years. Integral parts of the Department's plan are the Mission and Vision Statements, Linkages to the State's Strategic Plan, Strategic Goals and Objectives, and data/analysis pertinent to Information Technology and WorkForce Planning. The Department's strategic plan is comprised of three Strategic Goals as follows: GOAL 1: Regulated entities will receive fair and progressive regulation and supervision. GOAL 2: The Department will deliver convenient and responsive products and services to customers and consumers. GOAL 3: The Department will employ, empower and retain the best quality workforce available. In this time of rapid change, we believe the Department has an important role to play in maintaining a healthy system of financial services providers -- one that promotes stable economic growth and development, access to financial services with appropriate consumer safeguards, and competition among providers. -13- LEGISLATIVE HIGHLIGHTS Legislative History In 1974, the banking laws were subject to substantial recodification in the form of the Financial Institutions Code of Georgia. The new Code became effective April 1, 1975. Since establishment of the Department in 1919, additional responsibilities have been assigned to the agency in the form of the Georgia Credit Union Act (1925); Trust Company Laws of Georgia (1927); Georgia Sale of Checks Act (1965); The Fiduciary Investment Company Act (1970); International Bank Agency Act (1972); Georgia Business Development Corporation Act (1972); Regulation of Check Cashers (1990); and the Georgia Residential Mortgage Act (1993). Provisions relating to Bank Holding Companies were substantially amended, effective July 1, 1976, to permit multi-bank holding companies to operate in Georgia under Department supervision. During 1996 and 1997, the Department passed regulations in cooperation with the Office of the Commissioner of Insurance to permit banks in Georgia to sell insurance and annuities. In 1996, Georgia optedin to the provisions of the federal Riegle-Neal Act which permitted interstate branching of banks by merger. Beginning on July 1, 1998, the phase in of statewide intrastate branching was complete, allowing banks to have an unlimited number of de novo branches, subject to the Department's approval. During 1999, cleanup of the old branching laws was accomplished by considerable wording changes to the Code. With the settling in of statewide branching, powers of bank holding companies were increased, allowing the formation of a de novo bank by an existing bank holding company that has lawfully entered the state. and regulations in the areas of financial holding companies, financial subsidiaries, and privacy. Legislative changes to the mortgage regulation area have been made in recent years to simplify regulation and reduce paperwork for applicants and the Department, as well as to continue to improve the effectiveness of the Department's enforcement powers. The Georgia Fair Lending Act (the Act) became effective on October 1, 2002, and was subsequently amended during the 2003 legislative session. This new law is the most significant new statute affecting the residential mortgage loan process in Georgia in 10 years. The intent of the Act is to prohibit abusive mortgage loan practices, which legislators believed were increasingly prevalent in Georgia. The Act places considerable restrictions on "High Cost Home Loans" and some restrictions on all "Home Loans". The law is concerned with loans that are secured by a borrower's principal dwelling located on real estate in Georgia. The Department continues to make changes to the Code to streamline the application process, reduce regulatory burden on regulated entities, and coordinate its procedures with federal requirements. Looking Ahead to 2003 Proposed legislation for 2003 will primarily consist of: a provision to allow for the formation of banks as limited liability companies, a provision for licensing and regulation of money transmitters, clarifications of law and enhancements to regulation of the mortgage industry. Other legislation proposed will assist the Department in keeping state-chartered institutions competitive with federally chartered ones. A smooth transition into the new century was welcomed by the regulators and the industry. With extensive federal banking legislation being passed in November, 1999 in the form of the Gramm-Leach-Bliley Act, the Department began its efforts to ensure that Georgia laws and regulations work smoothly with the new federal laws -14- FISCAL YEAR 2002 RECEIPTS AND DISBURSEMENTS REVENUES COLLECTED Bank Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$ 9,704,753 Check Casher & Sale of Check Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .252,303 Credit Union Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .771,624 Holding Company Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .323,935 International Bank Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14,500 Mortgage Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5,809,703 Miscellaneous Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29,234 TOTAL RECEIPTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$ 16,906,053 DISBURSEMENTS Personal Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$ 9,018,177 Motor Vehicle Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .103,049 Supplies and Materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .84,072 Repairs and Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .37,342 Travel Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .380,537 Motor Vehicle Equipment Purchase . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .126,750 Printing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8,052 Equipment Purchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15,721 Office Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .488,686 Computer Charges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .259,380 Telecommunications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .122,340 Per Diem and Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18,389 Other Operating Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .208,445 TOTAL DISBURSEMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$ 10,870,940 NOTE: Revenues col lected are remitted to the O ffice of the Treasury and Fiscal Services. The level of expenditures is subject to the state budgetary process. -15- SUMMARY OF ACTIVITIES FOR STATE CHARTERED FINANCIAL INSTITUTIONS AND OTHER ENTITIES REGULATED BY, LICENSED BY, OR REGISTERED WITH THE DEPARTMENT OF BANKING AND FINANCE DURING 2002 FINANCIAL INSTITUTION, REGISTRANT, OR LICENSEE BANKS CREDIT CARD BANKS TRUST COMPANIES BUSINESS DEVELOPMENT CORPORATIONS CREDIT UNIONS BANK HOLDING COMPANIES (Supervised and/or Registered) CHECK SELLERS CHECK CASHERS INTERNATIONAL BANK AGENCIES INTERNATIONAL BANKING FACILITIES INTERNATIONAL BANK REPRESENTATIVE OFFICES REPRESENTATIVE OFFICES MORTGAGE BROKERS, LENDERS, AND REGISTRANTS TOTALS OPENED DECEMBER 31, REGISTERED 2001 LICENSED CONVERTED 261 6 2 4 2 -1 1 79 239 16 21 3 299 80 6 2 5 63 16 -1 2,668 677 CLOSED TOTALS MERGED LIQUIDATED DECEMBER 31, DEREGISTERED 2002 -15 254* -1 3 1 1 -1 -1 77 -10 -2 243 -1 23 -53 326 -1 5 * 2 5 -16 62 -423 2,922 * AmTrade International Bank of Georgia, currently in receivership, is included in the total banks and international banking facilities. Refer to the following page for details. -16- State-Chartered Financial Institutions BANKS AND TRUST COMPANIES As reflected in year-end 2002 Call Report information, total assets for state-chartered banks in Georgia amounted to $165 billion, reflecting an increase of roughly $18 billion or 12% from year-end 2001. New bank charter activity continued, with six new banks opening during the year. As of the end of the year, the number of banks totaled 257, a decrease of eight from the previous year. New Banks The Department received 11 applications for new bank charters during the year. Eleven applications were approved during the year, one was pending approval, and two had not yet been accepted for filing at year-end. NAME OF BANK First Bank of Henry County Community Capital Bank First Chatham Bank United Commercial Bank Piedmont Community Bank Homestead Bank Generations Bank McIntosh Commercial Bank Community Bank of West Georgia Oglethorpe Bank Neighbors Bank First Commerce Community Bank Lanier Community Bank Mountain State Bank Georgia Commerce Bank American Trust Bank CITY McDonough Jonesboro Savannah Atlanta Gray Suwanee Blairsville Carrollton Villa Rica Brunswick Alpharetta Douglasville Buford Dawsonville Atlanta Roswell COUNTY Henry Clayton Chatham Fulton Jones Gwinnett Union Carroll Carroll Glynn Fulton Douglas Gwinnett Dawson Cobb Fulton CAPITALIZATION APPROVED OPENED $7,633,550 7/28/2000 1/28/2002 $10,000,000 10/18/2000 8/5/2002 $10,000,000 8/17/2001 1/23/2002 $10,407,750 11/20/2001 9/3/2002 $7,783,400 1/9/2002 7/22/2002 $10,000,000 3/18/2002 N/A $7,300,000 5/17/2002 N/A $10,500,000 7/1/2002 11/5/2002 $7,000,000 9/16/2002 N/A $6,500,000 9/18/2002 N/A $9,000,000 10/15/2002 N/A $8,500,000 10/21/2002 N/A $10,000,000 10/29/2002 N/A $8,750,000 12/9/2002 N/A $10,000,000 12/9/2002 N/A $8,500,000 Pending N/A Conversions During 2002, the Department received two applications for conversion to a state charter. Both conversions were approved and also become effective during the year. PREVIOUS NAME Security First Network Bank First Georgia Bank CONVERTED TO SFNB (Georgia) Bank First Georgia Bank CITY APPROVED EFFECTIVE Atlanta 4/1/2002 5/31/2002 Brunswick 6/26/2002 8/19/2002 Involuntary Dissolution of Bank Charter - Bank in Receivership On September 30, 2002, the Department took possession of the business and property of AmTrade International Bank of Georgia, Atlanta (AmTrade) and appointed the Federal Deposit Insurance Corporation as receiver under O.C.G.A. 7-1-150 et. seq. AmTrade's total assets as of September 30, 2002 were $11.9 million. AmTrade was chartered on March 16, 1993 as a special purpose wholesale bank, chartered for the purpose of facilitating international trade. AmTrade was operating under a Plan of Voluntary Dissolution approved by the regulators in August but was unable to meet the provisions of that plan and was placed into involuntary liquidation. AmTrade's problems stemmed from cross border related loan losses in Argentina and losses due to credit card merchant processing activities. -17- State-Chartered Financial Institutions BANKS AND TRUST COMPANIES (Continued) Mergers During the year, the Department received 20 applications/notifications of mergers involving Georgia state banks. Sixteen applications were approved during the year. As a result of the 18 bank mergers that became effective during 2002, 16 Georgia state-chartered banks ceased to exist. NAME OF BANK (SURVIVOR) The Park Avenue Bank The Park Avenue Bank The Park Avenue Bank First National Bank of Griffin Branch Banking and Trust Company RBC Centura Bank RBC Centura Bank Farmers and Merchants Bank First State Bank of Blakely United Community Bank United Community Bank United Community Bank United Community Bank United Community Bank United Community Bank United Community Bank First Bank of the South Main Street Bank Western Union Bank Citizens Trust Bank Dalton Whitfield Bank First-Citizens Bank and Trust Company of South Carolina First-Citizens Bank and Trust Company of South Carolina CITY, STATE Valdosta Valdosta Valdosta Griffin Winston-Salem, NC Rocky Mount, NC Rocky Mount, NC Lakeland Blakely Blairsville Blairsville Blairsville Blairsville Blairsville Blairsville Blairsville Lawrenceville Covington Greenwood Village, CO Atlanta Dalton MERGED BANK Eagle Bank and Trust Baxley Federal Bank First Community Bank of Southwest Georgia American Community Bank of Georgia Community First Bank SFNB (Georgia) Bank Tucker Federal Bank The United Banking Company First State Bank of Donalsonville United Community Bank North Georgia United Community Bank Towns County United Community Bank White County United Community Bank Rabun County United Community Bank Dawson County United Community Bank Metro United Community Bank West Georgia Embry Bank First National Bank of Johns Creek First Financial Bank Citizens Federal Savings Bank Premier National Bank of Dalton CITY, STATE APPROVED EFFECTIVE Statesboro 10/30/2001 1/14/2002 Baxley 10/30/2001 3/11/2002 Bainbridge 10/30/2001 4/30/2002 McDonough 4/18/2002 5/31/2002 Carrollton 4/29/2002 5/10/2002 Atlanta 5/16/2002 6/1/2002 Tucker 6/6/2002 7/22/2002 Nashville 6/25/2002 Rescinded 9/26/2002 Donalsonville 8/15/2002 11/13/2002 Blue Ridge 10/17/2002 11/30/2002 Hiawassee 10/17/2002 11/30/2002 Cleveland 10/17/2002 11/30/2002 Clayton 10/17/2002 11/30/2002 Dawsonville 10/17/2002 11/30/2002 Marietta 10/17/2002 11/30/2002 Carrollton 10/17/2002 11/30/2002 Lawrenceville 11/13/2002 12/6/2002 Suwanee 12/9/2002 12/11/2002 Atlanta 12/27/2002 12/31/2002 Birmingham, AL Pending N/A Dalton Pending N/A Columbia, SC First Bank and Trust Carnesville Pending N/A Columbia, SC The Bank of Toccoa Toccoa Pending N/A Name Changes Five banks (including one bank in organization) changed their legal names during the year. PREVIOUS NAME Citizens & Southern Bank The Glennville Bank and Trust Company Southern Horizon Bank Jordan Banking Company First Bank of Gwinnett NEW NAME First Chatham Bank Glennville Bank Community Capital Bank Southern Horizon Bank First Bank of the South CITY APPROVAL EFFECTIVE Savannah 1/22/2002 1/23/2002 Glennville 3/7/2002 3/8/2002 Jonesboro 2/18/2002 8/5/2002 Leary 10/1/2002 10/1/2002 Lawrenceville 10/24/2002 11/1/2002 TRUST COMPANIES During 2002, Synovus Trust Company, Columbus, GA, a state-chartered trust company, converted to a national trust charter. Trust activities continue to be conducted principally by bank trust departments. With the conversion of Synovus Trust Company, there is only one state-chartered trust company in Georgia - which is an independent trust company (Reliance Trust Company, Atlanta, Georgia). -18- State-Chartered Financial Institutions CREDIT UNIONS As reflected in year-end 2002 Call Report information, total assets for state-chartered credit unions in Georgia amounted to $7.6 billion, reflecting an increase of roughly $708 million or 10% from year-end 2001. At the end of 2002, there were 77 state-chartered credit unions. Mergers The Department received and approved two credit union merger applications during the year. One credit union merger became effective during 2002. NAMEOFCREDITUNION (SURVIVOR) CITY MERGED CREDIT UNION Ft. McPherson Credit Union Ft. McPherson East Point Municipal Employees Credit Union Georgia Guard Credit Union Macon White Gold Credit Union CITY APPROVED EFFECTIVE East Point 5/9/2002 7/1/2002 Dry Branch 11/6/2002 Pending Voluntary Dissolution of Credit Union Charter The Department received one application for dissolution of credit union charter during 2002. The dissolution was pending approval at year-end. CREDIT UNION NAME CITY COUNTY APPROVED EFFECTIVE Southern Frozen Foods Employees Credit Union Montezuma Macon 2/11/2002 3/5/2002 OTHER LICENSEES, REGISTRANTS AND REGULATED ENTITIES BANK HOLDING COMPANIES Atotal of 243 bank holding companies were registered with the Department at the end of 2002. Thirteen applications were approved to est ablish new bank holding companies, and 10 applications were approved for additional acquisitions by an existing holding company. Holding Company Acquisitions Of the 10 holding company acquisitions approved, six became effective during the year. BANK HOLDING COMPANY Colony Bankcorp, Inc. FNB Banking Company Gwinnett Commercial Group, Inc. RBC Centura Banks, Inc. Synovus Financial Corp. GB&T Bancshares, Inc. NW Services Corporation Putnam-Greene Financial Corporation Synovus Financial Corp. Synovus Financial Corp. CITY, STATE Fitzgerald Griffin Lawrenceville Rocky Mount, NC Columbus Gainesville Ringgold Eatonton Columbus Columbus TO ACQUIRE Quitman Federal Savings Bank American Community Bank of Georgia Embry Bank Eagle Bancshares, Inc. The Bank of Nashville Home Town Bank of Villa Rica The Bank of Sharon The Citizens Bank of Cochran United Financial Holdings, Inc. First Nation Bank CITY, STATE Quitman McDonough Lawrenceville Tucker Nashville, TN Villa Rica Sharon, TN Cochran St. Petersburg, FL Covington APPROVAL 2/26/2002 4/18/2002 6/5/2002 6/6/2002 6/13/2002 8/26/2002 9/27/2002 10/28/2002 10/31/2002 12/16/2002 -19- Other Licensees, Registrants, and Regulated Entities BANK HOLDING COMPANIES (Continued) Holding Company Formations Sixteen holding company formations became effective during the year, seven of which were approved during 2001. Three applications were still pending approval at year-end. BANK HOLDING COMPANY Rivoli BanCorp, Inc. NBOG Bancorporation, Inc. Heritage First Bancshares, Inc. Southern Community Bancshares, Inc. FirstCity Bancorp, Inc. First Southern Bancorp West Metro Financial Services, Inc. FCB Financial Corporation, Inc. Georgia Community Bancshares, Inc. Folkston Investors, LLC Community Financial Holding Company, Inc. UCB Financial Group, Inc. Wheeler Bancshares, Inc. MCB Financial Group, Inc. Frontier National Corporation Generations Bancshares, Inc. First Citizens Bancorporation of South Carolina, Inc. Hazlehurst Investors, Inc. Pinnacle S-Corp, Inc. Neighbors Bancshares, Inc. First Commerce Community Bankshares, Inc. Community Bancshares of West Georgia, Inc. Buford Banking Group, Inc. CITY TO ACQUIRE Macon Rivoli Bank & Trust Gainesville National Bank of Gainesville Rome Heritage First Bank Fayetteville Southern Community Capital Bank Gibson FirstCity Bank Statesboro First Southern National Bank Dallas First National Bank of West Metro Savannah First Chatham Bank Dalton Georgia Community Bank Savannah First National Corporation Duluth Gwinnett Community Bank Atlanta United Commercial Bank Alamo Wheeler County State Bank Carrollton McIntosh Commercial Bank Sylacauga, AL Frontier National Bank Blairsville Generations Bank (in organization) Columbia, SC Citizens Bank Hazlehurst Bank of Hazlehurst Elberton Pinnacle Bank Roswell Neighbors Bank (in organization) Douglasville First Commerce Community Bank (in organization) Villa Rica Community Bank of West Georgia (in organization) Buford Lanier Community Bank (in organization) CITY APPROVAL Macon 3/21/2001 Gainesville 4/2/2001 Rome 9/20/2001 Fayetteville 10/24/2001 Gibson 10/29/2001 Statesboro 12/7/2001 Dallas 12/28/2001 Savannah 1/15/2002 Dalton 2/15/2002 Folkston 2/20/2002 Duluth 3/12/2002 Atlanta 7/17/2002 Alamo 8/22/2002 Carrollton 9/9/2002 LaGrange 9/19/2002 Blairsville 9/30/2002 Warrenton 9/30/2002 Hazlehurst 11/6/2002 Elberton 12/5/2002 Roswell 12/16/2002 Douglasville Pending Villa Rica Pending Buford Pending MORTGAGE LICENSEES AND REGISTRANTS Article 13 of Title 7 of the Official Code of Georgia Annotated requiresall persons who transact business as a mortgage broker or mortgage lender to be licensed or registered with the Department, unless they are exempt or subject to notification requirements. At the end of 2002, active licensees and registrants totaled 2,922, a net increase of 254 or 9.52% for the year. Services offered by licensees and registrants subject to regulation by the Department include loans to purchase a home or refinance a home or existing mortgage, second mortgage loans, home equity loans or lines of credit, and loans for other purposes to natural persons secured by a lien on Georgia residential property. CHECK CASHERS AND SALE OF CHECK COMPANIES As of the end of 2002, there were 326 check cashers licensed or registered with the Department. This was a net increase of 27 or 9.03% from the previous year. The Department has been supervising companies which sell traveler's checks and money orders to people in Georgia since 1965. Three new companies were approved for licensing during 2002 and one licensee closed. At the end of the year, 23 companies having a total of 10,344 agents throughout the state were licensed to do business in Georgia. There are only three in-state sale of check companies licensed with the Department. The other 20 companies are out-of-state companies licensed to operate in Georgia. -20- Other Licensees, Registrants, and Regulated Entities INTERNATIONAL BANKING During 2002, the number of Domestic International Banking Facilities and International Representative Offices changed minimally. At the end of the year, there were five representative offices of international banks registered or authorized to do business in Georgia and two domestic international banking facilities. Over the last several years, many international banking organizations have consolidated their U.S. operations in order to improve efficiency, resulting in the closure of agency offices in various states. At year-end there were five International Bank Agencies licensed by t he Department, a decrease of one from the previous year. Four out of the five International Bank Agencies operate as representative offices only, but maintain their license as an agency. BUSINESS DEVELOPMENT CORPORATIONS The Department is charged with the responsibility of supervising the operations of various other companies engaged in or related to the financial services industry. There is one business development corporation - The Business Development Corporation of Georgia, Inc., Atlanta, Georgia - that receives regular examinations by the Department. REPRESENTATIVE OFFICES OF BANKS AND BANK HOLDING COMPANIES A representative office is an office established by a bank, a bank holding company, or an agent or subsidiary of either for the purpose of conducting other than a banking business, and is not considered a main office or a branch office. As of the end of 2002, there were 62 entities registered with the Department having representative offices operating in this state. These included 43 registrants of out-of-state companies (including 8 trust production offices) and 19 registrants of in-state companies. -21- COMPARATIVE REPORTS OF CONDITION OF STATE-CHARTERED BANKS IN GEORGIA AS OF DECEMBER 31, 2002 WITH COMPARATIVE STATEMENTS AS OF YEAR-END 2001 AND 2000 (AMOUNTS IN MILLIONS) ASSETS Number of State-Chartered Banks Loans and Leases, Net of Unearned Income Less: Allowance for Loan and Lease Losses Net Loans & Leases Cash and Non-Interest Bearing Depository Balances Interest Bearing Depository Balances Securities Assets Held in Trading Accounts Federal Funds Sold and Securities Purchased under Agreement to Resell Bank Premises, Furniture and Fixtures Other Real Estate Owned Intangible Assets All Other Assets TOTAL ASSETS 12/31/2002 12/31/2001 12/31/2000 256 Banks 265 Banks 271 Banks 115,375 103,953 101,832 (1,435) (1,304) (1,311) 113,940 102,649 100,521 7,022 281 29,110 1,084 5,655 6,879 425 24,795 684 4,879 5,923 179 24,156 168 3,778 2,302 111 1,542 4,258 165,305 2,193 105 873 3,949 147,431 2,155 91 728 3,280 140,979 LIABILITIES TOTAL DEPOSITS Federal Funds Purchased and Securities Sold under Agreement to Repurchase Other Liabilities for Borrowed Money Subordinated Notes and Debentures All Other Liabilities TOTAL LIABILITIES EQUITY CAPITAL Preferred Stock Common Stock Surplus Undivided Profits and Capital Reserves Other Capital Components and Adjustments TOTAL EQUITY CAPITAL 117,345 15,294 11,318 2,170 3,830 149,957 101,423 14,114 12,035 1,996 3,981 133,549 101,017 13,125 8,808 1,068 3,813 127,831 1 419 5,245 7,529 2,154 15,348 1 414 5,539 7,928 - 13,882 1 404 4,983 6,666 1,094 13,148 TOTAL LIABILITIES AND EQUITY CAPITAL 165,305 147,431 140,979 NOTE: Balance Sheet and Income Statement figures do not include AmTrade International Bank of Georgia which is in receivorship and in the process of liquidation. At year-end 2002, there were 61 national banks with total assets of approximately $19 billion. -22- COMPARATIVE STATEMENT OF EARNINGS AND EXPENSES OF STATE-CHARTERED BANKS IN GEORGIA AS OF DECEMBER 31, 2002 WITH COMPARATIVE STATEMENTS AS OF YEAR-END 2001 AND 2000 (AMOUNTS IN MILLIONS) INTEREST INCOME Number of State-Chartered Banks Interest and Fees on Loans Income from Lease Financing Interest on Balances with Depository Institutions Income on Federal Funds Sold and Securities Purchased under Agreement to Resell Interest and Dividends from Securities Trading Account Interest Other Interest Income TOTAL INTEREST INCOME INTEREST EXPENSE Interest on Deposits Expense on Federal Funds Purchased and Securities Sold under Agreement to Repurchase Interest on Other Borrowed Money Interest on Subordinated Notes and Debentures TOTAL INTEREST EXPENSE NET INTEREST INCOME TOTAL NONINTEREST INCOME OVERHEAD EXPENSE Salaries and Employee Benefits Net Occupancy Expense of Bank Premises and Equipment Expenses Other Noninterest Expenses TOTAL OVERHEAD EXPENSE PROVISIONS FOR LOAN LOSSES SECURITIES GAINS AND LOSSES NET OPERATING INCOME BEFORE TAXES APPLICABLE INCOME TAXES NET OPERATING INCOME AFTER TAXES EXTRAORDINARY INCOME OR EXPENSES, NET NET INCOME 12/31/2002 12/31/2001 12/31/2000 256 Banks 265 Banks 271 Banks 6,485 170 12 7,571 179 16 8,244 167 13 94 1,144 7 36 7,948 190 1,370 9 42 9,377 271 1,387 4 - 10,086 1,985 214 450 111 2,760 5,188 3,767 3,082 537 610 106 4,335 5,042 3,221 3,733 847 498 78 5,156 4,930 2,975 2,801 749 1,974 5,524 696 200 2,935 826 2,109 - 2,109 2,460 731 1,677 4,868 467 113 3,041 1,040 2,001 6 2,007 2,256 706 1,667 4,629 314 (11) 2,951 931 2,020 - 2,020 -23- STATE-CHARTERED BANKS (Amounts in Thousands) CITY COUNTY NAME OF BANK Abbeville Abbeville Adel Ailey Alamo Alapaha Albany Allentown Alma Alpharetta Alpharetta Alpharetta Americus Americus Ashburn Athens Athens Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta Augusta Bainbridge Barwick Baxley Blackshear Blackshear Blairsville Blakely Blakely Broxton Brunswick Brunswick Brunswick Buford Cadwell Cairo Cairo Calhoun Camilla Camilla Wilcox Wilcox Cook Montgomery Wheeler Berrien Dougherty Wilkinson Bacon Fulton Fulton Fulton Sumter Sumter Turner Clarke Clarke Cobb DeKalb Fulton Fulton Fulton Fulton Fulton Fulton Fulton Fulton Fulton Richmond Decatur Brooks Appling Pierce Pierce Union Early Early Coffee Glynn Glynn Glynn Gwinnett Laurens Grady Grady Gordon Mitchell Mitchell Dorsey State Bank Wilcox County State Bank Adel Banking Company Montgomery County Bank Wheeler County State Bank Bank of Alapaha Security Bank and Trust Company of Albany The Four County Bank Alma Exchange Bank & Trust Bank of North Georgia First Colony Bank Integrity Bank Citizens Bank of Americus Sumter Bank and Trust Company Colony Bank Ashburn Athens First Bank & Trust Company First American Bank and Trust Company * The Bankers Bank The Prudential Bank and Trust Company Capitol City Bank & Trust Company * Citizens Trust Bank FLAG Bank Georgia Banking Company Monogram Credit Card Bank of Georgia Piedmont Bank of Georgia * RBC Centura Card Bank * SunTrust Bank United Commercial Bank Georgia Bank & Trust Company of Augusta The First Port City Bank Barwick Banking Company Peoples State Bank & Trust Peoples Bank The Blackshear Bank United Community Bank Bank of Early First State Bank of Blakely Colony Bank Southeast First Georgia Bank The Coastal Bank of Georgia The First Bank of Brunswick Peoples Bank & Trust Farmers State Bank Cairo Banking Company Citizens Bank Georgia Bank & Trust Bank of Camilla Planters & Citizens Bank * Member of the Federal Reserve System -24- BEGIN TOTAL BUSINESS **ASSETS 10/04/1972 04/22/1952 03/01/1929 03/01/1926 01/17/1945 03/25/1905 08/31/1970 09/15/1941 10/14/1939 08/05/1960 01/18/1985 11/01/2000 03/25/1937 10/28/1974 07/30/1900 05/30/1929 11/01/1949 01/31/1986 09/04/1945 10/03/1994 08/17/1921 07/01/1931 11/01/2001 06/27/1988 10/09/2001 07/12/2000 11/08/1891 09/03/2002 08/28/1989 10/07/1974 06/01/1967 07/01/1966 08/05/1946 07/07/1892 03/01/1950 04/28/1941 05/15/1937 07/01/1946 01/30/1984 06/01/1950 07/02/1990 12/13/1984 11/15/1966 11/23/1903 01/01/1904 02/15/1988 01/02/1890 05/24/1913 8,412 44,451 77,101 127,375 40,238 66,660 274,183 39,752 77,501 1,431,327 324,135 144,286 148,763 172,812 253,174 831,152 200,008 1,378,952 601,340 110,367 276,323 631,879 45,949 2,382,743 94,233 9,556 115,148,694 23,613 570,732 93,771 11,048 56,416 150,496 167,475 2,541,719 70,564 175,017 84,632 257,840 380,376 156,185 298,543 99,619 79,884 41,834 316,565 82,415 77,872 **Information as of 12/31/2002 STATE-CHARTERED BANKS (Amounts in Thousands) CITY COUNTY NAME OF BANK Carnesville Carrollton Carrollton Cartersville Cartersville Chatsworth Chickamauga Clarkesville Claxton Claxton Clayton Cochran Cochran Colquitt Columbus Columbus Comer Cordele Cordele Cornelia Covington Covington Crawford Cumming Cuthbert Dahlonega Dalton Dalton Darien Dawson Dawson Dawsonville Decatur Decatur Donalsonville Donalsonville Doraville Doraville Douglasville Douglasville Dublin Dublin Dudley Duluth Duluth Eastman Eastman Eastman Franklin Carroll Carroll Bartow Bartow Murray Walker Habersham Evans Evans Rabun Bleckley Bleckley Miller Muscogee Muscogee Madison Crisp Crisp Habersham Newton Newton Oglethorpe Forsyth Randolph Lumpkin Whitfield Whitfield McIntosh Terrell Terrell Dawson DeKalb DeKalb Seminole Seminole DeKalb DeKalb Douglas Douglas Laurens Laurens Laurens Fulton Gwinnett Dodge Dodge Dodge First Bank and Trust Citizens Bank and Trust of West Georgia McIntosh Commercial Bank Bartow County Bank Century Bank of Bartow County Cohutta Banking Company Bank of Chickamauga Habersham Bank The Claxton Bank Tippins Bank & Trust Company Rabun County Bank State Bank of Cochran The Citizens Bank of Cochran Peoples Community Bank BB&T Bankcard Corporation Columbus Bank and Trust Company Merchants and Farmers Bank of Comer, Georgia Central Bank & Trust PlantersFIRST Community Bank & Trust * First Nation Bank Main Street Bank The Commercial Bank The Citizens Bank of Forsyth County First State Bank of Randolph County Lumpkin County Bank Dalton Whitfield Bank First Bank of Dalton Southeastern Bank Bank of Dawson Bank of Terrell Chestatee State Bank Decatur First Bank Horizon Bank Commercial State Bank Merchants and Farmers Bank First Intercontinental Bank Global Commerce Bank Citizens & Merchants State Bank Douglas County Bank Farmers & Merchants Bank The Morris State Bank Bank of Dudley * The Peachtree Bank Gwinnett Community Bank Bank of Eastman Citizens Bank & Trust Company Colony Bank of Dodge County * Member of the Federal Reserve System -25- BEGIN TOTAL BUSINESS **ASSETS 08/01/1960 07/01/1947 11/05/2002 03/28/1974 06/29/2000 01/24/1906 05/10/1910 05/30/1904 02/24/1941 09/03/1940 10/10/1975 01/05/1922 07/01/1942 10/19/1973 07/01/1998 04/01/1889 10/10/1935 01/23/1986 03/30/1896 08/04/1900 08/28/1963 04/01/1901 09/05/1924 02/03/1997 01/02/1959 12/14/1982 09/16/1999 01/08/1996 01/24/1889 07/01/1911 08/31/1999 05/15/1998 09/02/1997 01/24/2000 08/31/1999 09/24/1925 01/31/2000 08/18/1995 10/06/1987 06/24/1974 07/06/1910 10/02/1958 11/30/1905 10/05/1998 10/18/1999 01/02/1919 04/01/1949 09/26/1966 121,738 459,582 28,834 255,417 64,773 225,395 60,033 429,103 93,551 50,784 151,589 158,934 73,085 113,902 129,286 4,139,337 103,615 60,927 272,810 570,076 345,720 1,378,178 76,796 98,983 50,812 71,775 175,732 102,830 377,910 77,118 111,342 175,316 94,082 90,551 78,256 99,861 66,603 77,610 154,398 189,698 384,698 129,815 103,576 180,032 168,848 172,605 108,435 62,836 **Information as of 12/31/2002 CITY COUNTY STATE-CHARTERED BANKS (Amounts in Thousands) NAME OF BANK BEGIN TOTAL BUSINESS **ASSETS Eatonton Eatonton Edison Elberton Ellaville Ellijay Fayetteville Fitzgerald Fitzgerald Forsyth Forsyth Fort Oglethorpe Fort Valley Gainesville Gibson Glennville Glennville Glennville Gray Gray Greenville Haddock Hahira Hawkinsville Hazlehurst Hiawassee Hinesville Hiram Irwinton Jackson Jackson Jasper Jasper Jasper Jeffersonville Jonesboro Jonesboro Kingsland LaFayette LaGrange LaGrange Lakeland Lavonia Lawrenceville Lawrenceville Lawrenceville Leary Lenox Putnam Putnam Calhoun Elbert Schley Gilmer Fayette Ben Hill Ben Hill Monroe Monroe Catoosa Peach Hall Glascock Tattnall Tattnall Tattnall Jones Jones Meriwether Jones Lowndes Pulaski Jeff Davis Towns Liberty Paulding Wilkinson Butts Butts Pickens Pickens Pickens Twiggs Clayton Clayton Camden Walker Troup Troup Lanier Franklin Gwinnett Gwinnett Gwinnett Calhoun Cook * Farmers & Merchants Bank The Peoples Bank The Bank of Edison Pinnacle Bank Bank of Ellaville Appalachian Community Bank Southern Community Bank Colony Bank of Fitzgerald Community Banking Company of Fitzgerald Monroe County Bank The Farmers Bank Capital Bank The Citizens Bank Gainesville Bank & Trust FirstCity Bank First Citizens Bank Glennville Bank South Georgia Bank Bank of Gray Piedmont Community Bank The Greenville Banking Company Jones County Bank Citizens Community Bank SunMark Community Bank Bank of Hazlehurst Bank of Hiawassee The Heritage Bank Community Trust Bank Wilkinson County Bank First Georgia Community Bank McIntosh State Bank Community Bank of Pickens County Crescent Bank and Trust Company Jasper Banking Company Peoples State Bank Community Capital Bank Heritage Bank Citizens State Bank The Bank of LaFayette, Georgia Commercial Bank & Trust Company of Troup County Community Bank and Trust - Troup Farmers and Merchants Bank Northeast Georgia Bank First Bank of the South Gwinnett Banking Company * The Brand Banking Company Southern Horizon Bank Bank of Lenox 11/15/1922 05/01/1944 12/31/1904 03/12/1934 09/16/1910 03/03/1995 06/02/2000 04/15/1976 04/19/1996 10/15/1908 12/31/1910 08/07/1964 01/01/1907 02/01/1988 11/27/1905 01/04/1943 01/18/1905 12/31/1987 08/28/1909 07/22/2002 12/31/1891 07/25/1905 02/21/1927 08/27/1949 10/30/1906 07/21/1909 11/15/1911 02/02/1988 07/16/1907 09/08/1997 09/18/1964 10/02/2000 08/14/1989 03/12/1945 12/10/1969 08/05/2002 12/31/1955 02/24/1947 01/01/1900 09/15/1941 12/15/1984 12/31/1907 09/23/1940 05/15/2000 10/31/1997 07/17/1905 01/03/1966 06/25/1907 141,012 104,805 38,231 343,675 137,638 383,785 121,077 140,946 73,330 64,661 56,808 87,412 100,916 374,338 42,372 65,532 100,738 61,379 233,766 16,097 24,263 4,795 89,725 129,067 62,071 206,845 230,854 173,761 38,428 147,610 243,162 68,903 342,437 239,164 26,424 21,750 261,552 33,270 149,527 204,440 81,945 95,319 239,975 270,669 198,172 498,129 13,920 34,846 * Member of the Federal Reserve System -26- **Information as of 12/31/2002 STATE-CHARTERED BANKS (Amounts in Thousands) CITY COUNTY NAME OF BANK Lincolnton Lithonia Loganville Lumber City Lumpkin Lyons Mableton Macon Macon Macon Madison Manchester Marietta Marietta Marietta McDonough McRae McRae Metter Milledgeville Milledgeville Molena Monticello Moultrie Moultrie Mount Vernon Nashville Nashville Newington Newnan Newnan Norcross Oakwood Omega Patterson Peachtree City Pearson Pelham Pembroke Perry Perry Pine Mountain Powder Springs Quitman Reidsville Reynolds Richmond Hill Ringgold Lincoln DeKalb Walton Telfair Stewart Toombs Cobb Bibb Bibb Bibb Morgan Meriwether Cobb Cobb Cobb Henry Telfair Telfair Candler Baldwin Baldwin Pike Jasper Colquitt Colquitt Montgomery Berrien Berrien Screven Coweta Coweta Gwinnett Hall Tift Pierce Fayette Atkinson Mitchell Bryan Houston Houston Harris Cobb Brooks Tattnall Taylor Bryan Catoosa Farmers State Bank The Peoples Bank The Community Bank Bank of Lumber City Farmers State Bank Peoples Bank Georgia State Bank New Southern Bank * Rivoli Bank & Trust Security Bank of Bibb County Bank of Madison F & M Bank and Trust Company Charter Bank and Trust Co. Riverside Bank Security Exchange Bank First Bank of Henry County The Merchants & Citizens Bank The Security State Bank Pineland State Bank Century Bank and Trust Exchange Bank First Bank of Pike Bank of Monticello American Banking Company * Southwest Georgia Bank Mount Vernon Bank The Citizens Bank The United Banking Company Bank of Newington Bank of Coweta * Newnan Coweta Bank First Capital Bank Southern Heritage Bank South Georgia Banking Company The Patterson Bank The Bank of Georgia The Citizens Exchange Bank Pelham Banking Company * First Bank of Coastal Georgia Security Bank of Houston County The Bank of Perry First Peoples Bank Georgian Bank Heritage Community Bank The Tattnall Bank The Citizens State Bank of Taylor County Bryan Bank & Trust Gateway Bank & Trust * Member of the Federal Reserve System -27- BEGIN TOTAL BUSINESS **ASSETS 12/02/1911 12/31/1910 10/05/1946 07/02/1945 12/30/1911 06/01/1935 04/28/1986 12/10/2001 06/12/1997 11/03/1988 01/01/1890 02/21/1948 02/03/1989 04/17/1987 04/17/2000 01/28/2002 03/28/1929 08/23/1972 10/15/1962 03/30/1898 06/01/1903 03/30/1899 02/10/1964 10/01/1971 01/03/1928 01/24/1901 03/30/1943 07/15/1924 08/14/1919 10/06/1972 04/20/2000 12/18/1989 01/04/1999 01/02/1968 06/19/1907 02/18/2000 05/12/1945 12/08/1936 02/11/1938 09/14/1987 12/31/1889 07/09/1990 11/14/2001 12/31/1888 10/22/1900 09/08/1922 12/27/1989 04/21/1997 87,950 135,163 196,705 17,608 48,485 60,653 228,543 79,606 132,182 426,715 119,521 55,882 278,725 433,107 59,968 37,685 104,004 34,288 62,469 130,111 157,652 32,448 73,362 185,970 240,017 67,635 91,950 83,628 51,729 291,601 85,932 377,219 86,124 173,540 99,775 171,488 24,642 48,043 85,153 152,852 113,580 58,507 58,696 83,093 54,462 36,570 124,159 141,383 **Information as of 12/31/2002 STATE-CHARTERED BANKS (Amounts in Thousands) CITY COUNTY NAME OF BANK Ringgold Roberta Rochelle Rochelle Rockmart Rome Rome Rossville Sandersville Sandersville Sardis Savannah Savannah Savannah Senoia Smyrna Social Circle Soperton Sparta Sparta Springfield St. Marys Statesboro Statesboro Stockbridge Swainsboro Swainsboro Sylvania Sylvester Sylvester Talbotton Thomaston Thomaston Thomasville Thomasville Thomson Tifton Tifton Toccoa Toccoa Trenton Twin City Union Point Uvalda Valdosta Valdosta Valdosta Vidalia Catoosa Crawford Wilcox Wilcox Polk Floyd Floyd Walker Washington Washington Burke Chatham Chatham Chatham Coweta Cobb Walton Treutlen Hancock Hancock Effingham Camden Bulloch Bulloch Henry Emanuel Emanuel Screven Worth Worth Talbot Upson Upson Thomas Thomas McDuffie Tift Tift Stephens Stephens Dade Emanuel Greene Montgomery Lowndes Lowndes Lowndes Toombs Northwest Georgia Bank First Community Bank of Georgia Colony Bank Wilcox Rochelle State Bank United Bank & Trust Company Citizens First Bank Greater Rome Bank Rossville Bank Citizens Bank of Washington County The Geo. D. Warthen Bank Southern Bank First Chatham Bank The Carver State Bank The Coastal Bank Farmers and Merchants Community Bank Community Bank of the South Georgia Central Bank The Bank of Soperton Bank of Hancock County United Security Bank Citizens Bank of Effingham Satilla Community Bank Farmers & Merchants Bank Sea Island Bank The First State Bank Spivey State Bank The Citizens Bank of Swainsboro Farmers and Merchants Bank Colony Bank Worth Sylvester Banking Company The Peoples Bank of Talbotton Bank of Upson West Central Georgia Bank Bank of Thomas County Commercial Bank First Bank of Georgia Citizens Security Bank First Community Bank of Tifton Liberty Bank & Trust The Bank of Toccoa Bank of Dade Durden Banking Company, Incorporated * The Farmers Bank Altamaha Bank and Trust Company First State Bank and Trust Company of Valdosta Guardian Bank * The Park Avenue Bank Darby Bank & Trust Co. * Member of the Federal Reserve System -28- BEGIN TOTAL BUSINESS **ASSETS 08/30/1904 06/15/1998 06/30/1906 08/01/1947 01/16/1990 01/01/1911 02/26/1996 12/13/1963 05/03/1965 09/21/1891 07/02/1945 01/23/2002 06/04/1947 07/09/1970 03/02/1874 08/02/1999 03/08/1924 12/31/1903 09/05/1904 06/01/1967 09/08/1998 11/20/2001 02/17/1948 12/31/1901 10/08/1964 03/01/1965 12/31/1900 12/31/1946 06/22/1981 07/30/1898 01/13/1891 10/01/1951 04/15/1974 11/20/1911 07/22/1916 01/09/1989 04/15/1948 02/24/1937 07/20/1984 09/01/1911 01/12/1956 07/05/1935 09/06/1911 05/16/1966 03/30/1906 05/01/2001 06/28/1971 07/01/1934 377,227 60,486 45,274 18,728 69,418 241,723 122,126 95,291 130,698 123,677 60,429 97,121 23,337 199,773 64,105 133,402 67,890 44,188 74,327 31,259 100,599 23,468 139,444 250,233 486,981 93,050 67,903 90,254 114,041 46,262 18,105 243,754 84,423 50,978 362,158 257,250 169,484 208,798 25,569 133,125 74,448 80,000 72,606 109,511 289,128 76,816 745,672 362,796 **Information as of 12/31/2002 CITY COUNTY Vienna Villa Rica Warner Robins Warrenton Washington Watkinsville Watkinsville Waycross Willacoochee Winder Winder Woodbury Woodland Wrens Wrightsville Zebulon Dooly Carroll Houston Warren Wilkes Oconee Oconee Ware Atkinson Barrow Barrow Meriwether Talbot Jefferson Johnson Pike STATE-CHARTERED BANKS (Amounts in Thousands) NAME OF BANK Bank of Dooly HomeTown Bank of Villa Rica CB&T Bank of Middle Georgia Citizens Bank Farmers and Merchants Bank North Georgia Bank Oconee State Bank Waycross Bank & Trust The Peoples Bank First Piedmont Bank The Peoples Bank The Woodbury Banking Company Talbot State Bank First State Bank Bank of Wrightsville United Bank BEGIN TOTAL BUSINESS **ASSETS 07/30/1976 10/22/1997 01/04/1985 04/30/1902 03/14/1950 04/17/2000 02/01/1960 06/01/1988 01/15/1952 04/15/1998 10/30/1926 09/29/1902 11/25/1907 07/06/1964 02/16/1897 01/31/1905 60,245 138,195 304,106 48,055 202,845 66,880 246,359 94,264 42,758 64,463 209,068 20,526 62,382 84,632 64,851 493,145 * Member of the Federal Reserve System -29- **Information as of 12/31/2002 CITY Albany Albany Alma Alpharetta Alpharetta Alpharetta Ashburn Athens Atlanta Atlanta Atlanta Atlanta Atlanta Augusta Barnesville Brunswick Buchanan Cairo Calhoun Canton Carrollton Cartersville Cedartown Chatsworth Columbus Commerce Conyers Dallas Dalton Dalton Darien Douglas Douglas Duluth Folkston Gainesville Griffin Kennesaw Lagrange Lawrenceville Lawrenceville Louisville Marietta Milledgeville Monroe Norcross Norcross Peachtree City COUNTY Dougherty Dougherty Bacon Fulton Fulton Fulton Turner Clarke Dekalb Fulton Fulton Fulton Fulton Richmond Lamar Glynn Haralson Grady Gordon Cherokee Carroll Bartow Polk Murray Muscogee Jackson Rockdale Paulding Whitfield Whitfield McIntosh Coffee Coffee Gwinnett Charlton Hall Spalding Cobb Troup Gwinnett Gwinnett Jefferson Cobb Baldwin Walton Gwinnett Gwinnett Fayette NATIONAL BANKS* (Amounts in Thousands) NAME OF BANK Albany Bank & Trust, National Association First National Bank of South Georgia First National Bank South Chattahoochee National Bank Futurus Bank, National Association North Atlanta National Bank Community National Bank The National Bank of Georgia The Summit National Bank Bank of America Georgia, National Association InfiBank, National Association The Buckhead Community Bank, National Association United Americas Bank, National Association First Union Direct Bank, National Association The First National Bank of Barnesville Atlantic National Bank First National Bank of Georgia United National Bank North Georgia National Bank Cherokee Bank, National Association West Georgia National Bank of Carrollton Unity National Bank The First National Bank of Polk County The First National Bank of Chatsworth pointpathbank, National Association NBank, National Association Liberty National Bank First National Bank West Metro Alliance National Bank Premier National Bank of Dalton Sapelo National Bank Douglas National Bank First National Bank of Coffee County First National Bank of Gwinnett First National Bank The National Bank of Gainesville First National Bank of Griffin First North American National Bank Frontier National Bank Belk National Bank Cedar Hill National Bank The First National Bank & Trust Company Southern National Bank First National Bank of the South The National Bank of Walton County Fidelity National Bank First Security National Bank Peachtree National Bank -30- BEGIN TOTAL BUSINESS **ASSETS 04/28/1999 05/29/1991 02/15/1950 07/27/1998 05/02/2001 11/16/1998 08/06/1990 05/08/2000 03/10/1988 02/13/2001 04/27/1998 02/06/1998 09/20/1999 06/02/1997 04/02/1902 08/31/1998 03/04/1909 05/26/2000 02/10/1999 07/26/1999 09/16/1946 11/30/1998 01/01/1920 08/18/1975 06/26/2000 01/01/1904 10/14/1997 03/25/2002 10/25/1999 11/25/1996 05/29/1997 11/19/2001 09/23/1991 11/14/2000 04/01/1996 03/25/2002 05/12/1933 11/19/1990 05/23/1946 05/03/1999 02/02/1998 01/01/1902 12/21/1998 07/03/1989 01/01/1891 02/12/1974 06/25/1985 09/11/1986 108,668 75,157 215,399 120,374 37,926 53,356 164,553 91,386 403,538 5,714,801 96,321 134,253 76,950 4,178,185 99,959 120,153 178,149 74,715 80,913 96,876 384,348 130,895 148,689 147,828 5,730 335,210 119,966 45,987 72,705 84,755 48,120 53,105 104,190 64,956 58,224 47,470 300,884 345,941 288,990 7,617 8,637 400,239 127,575 131,021 223,927 1,062,895 93,524 270,858 *Information as of 12/31/2002 CITY Quitman Saint Marys Saint Marys Savannah Statesboro Stockbridge Summerville Suwanee Thomasville Tucker Waynesboro Woodstock Woodstock COUNTY Brooks Camden Camden Chatham Bulloch Henry Chattooga Gwinnett Thomas Dekalb Burke Cherokee Cherokee NATIONAL BANKS* (Amounts in Thousands) NAME OF BANK The Citizens National Bank of Quitman Cumberland National Bank First National Bank The Savannah Bank, National Association First Southern National Bank Eagle National Bank First National Bank of Chattooga County Quantum National Bank Thomasville National Bank Mountain National Bank The First National Bank of Waynesboro First National Bank of Cherokee SouthBank, National Association BEGIN TOTAL BUSINESS **ASSETS 08/25/1934 10/01/1999 07/10/1989 08/22/1990 02/05/2002 12/02/1997 05/22/1968 12/27/1995 10/02/1995 08/02/1988 01/01/1905 11/27/1989 05/20/2002 69,819 57,857 118,679 312,835 31,907 62,413 44,439 136,466 181,144 246,710 84,831 188,418 31,357 **Information as of 12/31/2001 -31- BANK HOLDING COMPANIES AND THEIR BANK SUBSIDIARIES NAME MONTGOMERY COUNTY BANKSHARES, INC. *Montgomery County Bank CITY Ailey Ailey APPROVED 01/27/1987 WHEELER BANCSHARES, INC. *Wheeler County State Bank Alamo Alamo 08/22/2002 COMMUNITY CAPITAL BANCSHARES, INC. *Albany Bank & Trust, National Association Albany Albany 04/12/1999 FOUR COUNTY BANCSHARES, INC. *The Four County Bank Peoples State Bank Allentown Allentown Jeffersonville 02/14/1989 FIRST BANK SHARES OF THE SOUTH EAST, INC. *First National Bank South Alma Alma 06/11/1985 SOUTH BANKING COMPANY *Alma Exchange Bank & Trust Peoples State Bank & Trust Citizens State Bank Pineland State Bank Alma Alma Baxley Kingsland Metter 11/20/1980 CNB HOLDINGS, INC. *Chattahoochee National Bank Alpharetta Alpharetta 05/27/1998 FIRST COLONY BANCSHARES, INC. *First Colony Bank Alpharetta Alpharetta 06/06/1988 FUTURUS FINANCIAL SERVICES, INC. *Futurus Bank, National Association Alpharetta Alpharetta 04/04/2000 INTEGRITY BANCSHARES, INC. *Integrity Bank Alpharetta Alpharetta 07/28/2000 NETBANK, INC. NetBank Alpharetta Alpharetta 04/12/1999 COMMUNITY NATIONAL BANCORPORATION *Community National Bank Cumberland National Bank First National Bank Ashburn Ashburn St. Marys Tarpon Springs, FL 02/19/1990 FIRST AMERICAN BANCORP *First American Bank and Trust Company Athens Athens 04/02/1986 NBG BANCORP, INC. *The National Bank of Georgia Athens Athens 03/17/2000 AMVESCAP PLC AMVESCAP National Trust Company Atlanta ** Atlanta BROADSTREET, INC. *AmTrade International Bank of Georgia (in receivorship) Atlanta Atlanta 03/04/1993 * Lead Bank ** Registered Holding Companies Only -32- BANK HOLDING COMPANIES AND THEIR BANK SUBSIDIARIES NAME BUCKHEAD COMMUNITY BANCORP, INC. *The Buckhead Community Bank, N.A. CITY Atlanta Atlanta APPROVED 01/27/1998 CAPITOL CITY BANCSHARES, INC. *Capitol City Bank & Trust Company Atlanta Atlanta 09/16/1998 CITIZENS BANCSHARES CORP. *Citizens Trust Bank Atlanta Atlanta 07/01/1976 COMMUNITY FINANCIAL SERVICES, INC. *The Bankers Bank Atlanta Atlanta 11/18/1985 EBANK.COM, INC. *Ebank Atlanta Atlanta 05/27/1998 FIDELITY NATIONAL CORPORATION *Fidelity National Bank Atlanta Norcross 12/18/1979 FLAG FINANCIAL CORPORATION *FLAG Bank Atlanta Atlanta 02/23/1994 GEORGIA BANKING COMPANY, INC. *Georgia Banking Company Atlanta Atlanta 09/24/2001 RELIANCE FINANCIAL CORPORATION *Reliance Trust Company Atlanta Atlanta 05/25/2001 SUMMIT BANK CORPORATION *The Summit National Bank Atlanta Atlanta 09/11/1987 SUNTRUST BANKS, INC. SUNTRUST BANK HOLDING COMPANY *SunTrust Bank Atlanta Orlando, FL Atlanta 01/11/1985 10/19/1999 UNITED AMERICAS BANCSHARES, INC. *United Americas Bank, National Association Atlanta Atlanta 07/07/1999 GEORGIA BANK FINANCIAL CORPORATION *Georgia Bank & Trust Company of Augusta Augusta Augusta 11/27/1991 GEORGIA-CAROLINA BANCSHARES, INC. *First Bank of Georgia Augusta Thomson 05/06/1997 PORT CITY HOLDING COMPANY, INC. *The First Port City Bank Bainbridge Bainbridge 08/11/1981 UNITED BANK CORPORATION *United Bank Barnesville Zebulon 11/25/1981 ALABAMA NATIONAL BANCORPORATION *National Bank of Commerce of Birmingham Georgia State Bank Birmingham, AL Birmingham, AL Mableton 08/28/1998 * Lead Bank ** Registered Holding Companies Only -33- BANK HOLDING COMPANIES AND THEIR BANK SUBSIDIARIES NAME AMSOUTH BANCORPORATION *AmSouth Bank CITY Birmingham, AL Birmingham, AL APPROVED ** REGIONS FINANCIAL CORPORATION *Regions Bank Birmingham, AL ** Birmingham, AL SOUTHTRUST CORPORATION *SouthTrust Bank Birmingham, AL ** Birmingham, AL PEOPLES BANKING CORPORATION *Peoples Bank Blackshear Blackshear 02/28/1990 UNITED COMMUNITY BANKS, INC. *United Community Bank United Community Bank Blairsville Blairsville Murphy, NC 02/04/1988 EARLY BANCSHARES, INC. *Bank of Early Blakely Blakely 02/02/1993 THE MADDOX CORPORATION FIRST STATE BANCSHARES OF BLAKELY, INC. *First State Bank of Blakely Blakely Blakely Blakely 11/04/1996 06/13/1986 ATLANTIC NATIONAL CORPORATION *Atlantic National Bank Brunswick Brunswick 11/15/2000 FIRST GEORGIA HOLDING, INC. *First Georgia Bank Brunswick Brunswick 04/28/1988 FIRST HARALSON CORPORATION *First National Bank of Georgia Buchanan Buchanan 03/06/1984 NORTH GEORGIA COMMUNITY FINANCIAL PARTNERS, INC. *North Georgia National Bank Calhoun Calhoun 05/17/2000 CAMILLA BANCSHARES, INC. *Bank of Camilla Camilla Camilla 03/24/1992 P & C BANK SHARES, INC. *Planters & Citizens Bank Camilla Camilla 12/30/1980 CHEROKEE BANKING COMPANY, INC. *Cherokee Bank, National Association Canton Canton 06/11/1999 FIRST BANKS, INC. First Bank and Trust *The Bank of Toccoa Carnesville Carnesville Toccoa 04/13/1981 MCB FINANCIAL GROUP, INC. *McIntosh Commercial Bank Carrollton 09/09/2002 WGNB CORP. *West Georgia National Bank of Carrollton Carrollton Carrollton 08/12/1985 * Lead Bank ** Registered Holding Companies Only -34- BANK HOLDING COMPANIES AND THEIR BANK SUBSIDIARIES NAME BARTOW BANCSHARES, INC. *Bartow County Bank CITY Cartersville Cartersville APPROVED 04/28/1983 UNITY HOLDINGS, INC. *Unity National Bank Cartersville Cartersville 05/15/1998 FIRST POLK BANKSHARES, INC. *The First National Bank of Polk County Cedartown Cedartown 05/20/1986 BANK OF AMERICA CORPORATION *Bank of America, National Association NB HOLDINGS CORPORATION *Bank of America Georgia, National Association Charlotte, NC Charlotte, NC Charlotte, NC Atlanta 12/12/1985 01/16/2001 BELK, INC. *Belk National Bank Charlotte, NC ** Lawrenceville THE CATO CORPORATION *Cedar Hill National Bank Charlotte, NC ** Lawrenceville WACHOVIA CORPORATION *Wachovia Bank, National Association First Union Direct Bank, National Association Charlotte, NC ** Charlotte, NC Augusta FIRST CHATSWORTH BANCSHARES, INC. *The First National Bank of Chatsworth Chatsworth Chatsworth 03/03/1983 FIRST SECURITY GROUP, INC. *Frontier Bank Dalton Whitfield Bank Chattanooga, TN Chattanooga, TN Dalton 08/27/1999 SOUTHERN BANCSHARES, INC. *The Claxton Bank Claxton Claxton 03/30/1998 TIPPINS BANKSHARES, INC. *Tippins Bank & Trust Company Claxton Claxton 01/20/1998 LIBERTY BANCORP OF GEORGIA, INC. *Rabun County Bank The Gordon Bank Clayton Clayton Gordon 05/12/1983 PEOPLES COMMUNITY BANCSHARES, INC. *Peoples Community Bank Peoples Community Bank Peoples Community Bank Colquitt Colquitt Columbia, AL Malone, FL 04/09/1991 FIRST CITIZENS BANCORPORATION OF SOUTH CAROLINA, INC. Citizens Bank Columbia, SC Warrenton 09/30/2002 SYNOVUS FINANCIAL CORP. Security Bank and Trust Company of Albany Bank of North Georgia Sumter Bank and Trust Company Athens First Bank & Trust Company * Lead Bank -35- Columbus Albany Alpharetta Americus Athens 07/01/1976 ** Registered Holding Companies Only BANK HOLDING COMPANIES AND THEIR BANK SUBSIDIARIES NAME SYNOVUS FINANCIAL CORP. (Continued) The Coastal Bank of Georgia Georgia Bank & Trust Citizens Bank and Trust of West Georgia Cohutta Banking Company *Columbus Bank and Trust Company pointpathbank, N.A. Citizens & Merchants State Bank First Coast Community Bank The Citizens Bank Commercial Bank & Trust Company of Troup County Charter Bank and Trust Co. The National Bank of Walton County The Bank of Nashville Bank of Coweta Peachtree National Bank Bank of Pensacola CB&T Bank of Russell County The Quincy State Bank Citizens First Bank Sea Island Bank The National Bank of South Carolina Tallahassee State Bank Commercial Bank First Community Bank of Tifton Mountain National Bank First State Bank and Trust Company of Valdosta Vanguard Bank and Trust Company CB&T Bank of Middle Georgia SYNOVUS FINANCIAL CORP. OF ALABAMA First Commercial Bank Community Bank and Trust of Southeast Alabama First Commercial Bank of Huntsville The First National Bank of Jasper Sterling Bank The Bank of Tuscaloosa COLUMBUS BANK AND TRUST COMPANY Synovus Trust Company, N.A. SYNOVUS TRUST COMPANY *Synovus Trust Company of Florida CITY APPROVED Columbus Brunswick Calhoun Carrollton Chatsworth Columbus Columbus Douglasville Fernandina Beach, FL Fort Valley LaGrange Marietta Monroe Nashville, TN Newnan PeachtreeCity Pensacola, FL Phenix City, AL Quincy, FL Rome Statesboro Sumter, SC Tallahassee, FL Thomasville Tifton Tucker Valdosta Valparaiso, FL Warner Robins Birmingham, AL Birmingham, AL Enterprise, AL Huntsville, AL Jasper, AL Montgomery, AL Tuscaloosa, AL Columbus Columbus Columbus Pensacola, FL 07/01/1976 10/04/1988 01/03/1995 04/15/1999 NBANK.CORP, INC. *NBANK, National Association Commerce Commerce 10/27/1981 LIBERTY NATIONAL BANKSHARES, INC. *Liberty National Bank Conyers Conyers 08/28/1997 MID STATE BANKS, INC. *PlantersFIRST Cordele Cordele 03/05/1980 COMMUNITY BANKSHARES, INC. *Community Bank & Trust Community Bank and Trust - Troup Community Bank and Trust Cornelia Cornelia LaGrange Union Springs, AL 03/12/1981 * Lead Bank ** Registered Holding Companies Only -36- BANK HOLDING COMPANIES AND THEIR BANK SUBSIDIARIES NAME HABERSHAM BANCORP *Habersham Bank CITY Cornelia Clarkesville APPROVED 12/05/1984 THE 2000 WILLIAMS INVESTMENT COMPANY, LLC WILLIAMS PARTNERS, L.P. FNB NEWTON BANKSHARES, INC. *First Nation Bank Covington Atlanta Covington Covington 07/24/2001 12/24/1997 11/30/1984 TCB BANCSHARES, INC. *The Commercial Bank Crawford Crawford 08/10/1989 FORSYTH BANCSHARES, INC. *The Citizens Bank of Forsyth County Cumming Cumming 10/15/1996 WEST METRO FINANCIAL SERVICES, INC. *First National Bank West Metro Dallas Dallas 12/28/2001 FBD HOLDING COMPANY *First Bank of Dalton Dalton Dalton 04/17/1995 GEORGIA COMMUNITY BANCSHARES, INC. *Georgia Community Bank Dalton Dalton 02/15/2002 SOUTHEASTERN BANKING CORPORATION *Southeastern Bank Darien Darien 04/14/1981 DAWSON BANCSHARES, INC. *Bank of Dawson Dawson Dawson 09/19/1983 CHESTATEE BANCSHARES, INC. *Chestatee State Bank Dawsonville Dawsonville 01/11/2000 DECATUR FIRST BANK GROUP, INC. *Decatur First Bank Decatur Decatur 03/11/1997 HORIZON BANCORP, INC. *Horizon Bank Decatur Decatur 10/11/2001 DNB FINANCIAL SERVICES, INC. *Douglas National Bank Douglas Douglas 11/09/2001 FNC BANCORP, INC. *First National Bank of Coffee County Douglas Douglas 03/19/1991 THORNTON HOLDING COMPANY, INC. *Douglas County Bank Douglasville Douglasville 12/17/1981 FARMERS BANCSHARES, INC. *Farmers State Bank The Security State Bank Dublin Cadwell McRae 07/24/1979 MORRIS STATE BANCSHARES, INC. *The Morris State Bank Dublin Dublin 05/24/1989 * Lead Bank ** Registered Holding Companies Only -37- BANK HOLDING COMPANIES AND THEIR BANK SUBSIDIARIES NAME COMMUNITY FINANCIAL HOLDING COMPANY, INC. *Gwinnett Community Bank CITY Duluth Duluth APPROVED 03/12/2002 THE PB FINANCIAL SERVICES CORPORATION *The Peachtree Bank Duluth Duluth 05/21/1999 CITIZENS CORPORATION *Citizens Bank & Trust Company Eastman Eastman 01/15/1985 MAGNOLIA BANKSHARES, INC. *Bank of Eastman Eastman Eastman 08/08/1996 PEOPLES BANKSHARES, INCORPORATED *The Peoples Bank Eatonton Eatonton 02/17/1984 PUTNAM-GREENE FINANCIAL CORPORATION The Citizens Bank of Cochran *Farmers & Merchants Bank First Bank of Coastal Georgia The Farmers Bank Eatonton Cochran Eatonton Pembroke Union Point 04/03/1987 BOE BANCSHARES, INC. *The Bank of Edison Edison Edison 03/05/1984 MCCONNELL & CO., AND EBERHARDT, INC. JAM FAMILY PRTSHP I, LP, & JAM FAMILY PRTSHP II, LP PINNACLE FINANCIAL CORPORATION *Pinnacle Bank Elberton Elberton Elberton Elberton 12/23/1993 12/23/1993 04/01/1983 MIDDLE GEORGIA CORPORATION *Bank of Ellaville CBA BANKSHARES, INC. *Citizens Bank of Americus Ellaville Ellaville Americus Americus 05/08/1981 05/27/1992 APPALACHIAN BANCSHARES, INC. *Appalachian Community Bank Ellijay Ellijay 07/12/1996 FAIRBANCO HLDG CO INC EMPLOYEE STOCK OWNERSHIP PLAN FAIRBANCO HOLDING COMPANY, INC. *1st Community Bank Fairburn Fairburn Fairburn 11/30/1994 06/11/1984 GEORGIA BANCSHARES, INC. *The Bank of Georgia Fayetteville Fayetteville 05/15/2001 SOUTHERN COMMUNITY BANCSHARES, INC. *Southern Community Bank Fayetteville Fayetteville 10/24/2001 CBC HOLDING COMPANY *Community Banking Company of Fitzgerald Fitzgerald Fitzgerald 02/20/1997 COLONY BANKCORP, INC. Colony Bank Ashburn Colony Bank Southeast Colony Bank of Dodge County * Lead Bank Fitzgerald Ashburn Broxton Eastman 04/15/1983 ** Registered Holding Companies Only -38- BANK HOLDING COMPANIES AND THEIR BANK SUBSIDIARIES NAME COLONY BANKCORP, INC. (Continued) *Colony Bank of Fitzgerald Colony Bank Quitman, FSB Colony Bank Wilcox Colony Bank Worth CITY Fitzgerald Fitzgerald Quitman Rochelle Sylvester APPROVED 04/15/1983 COUNTRY BANK COMPANY *Monroe County Bank Forsyth Forsyth 02/25/1982 HOGAN INVESTMENTS, INC. HOGAN INVESTMENTS LIMITED LAURENS BANCSHARES, INC. *Bank of Dudley Forsyth Forsyth Dudley Dudley 02/27/1998 02/27/1998 02/27/1998 CATOOSA BANCSHARES, INC. *Capital Bank Fort Oglethorpe Fort Oglethorpe 12/15/1980 GB&T BANCSHARES, INC. *Gainesville Bank & Trust Community Trust Bank United Bank & Trust Company Home Town Bank of Villa Rica Gainesville Gainesville Hiram Rockmart Villa Rica 04/22/1998 NBOG BANCORPORATION, INC. *The National Bank of Gainesville Gainesville Gainesville 04/02/2001 FIRSTCITY BANCORP, INC. *FirstCity Bank Gibson Gibson 10/29/2001 FIRST CITIZENS BANKSHARES, INC. *First Citizens Bank Glennville Glennville 12/16/1980 SOUTH GROUP BANCSHARES, INC. *South Georgia Bank Glennville Glennville 12/17/1999 CITIZENS FINANCIAL SERVICES, INC. *Citizens Union Bank Greensboro Greensboro 06/17/1985 MERIWETHER BANK SHARES, INC. *The Greenville Banking Company Greenville Greenville 07/18/1996 FNB BANKING COMPANY The First National Bank of Barnesville *First National Bank of Griffin Griffin Barnesville Griffin 01/17/1983 CCB BANCSHARES, INC. *Citizens Community Bank Hahira Hahira 12/15/1982 SUNMARK BANCSHARES, INC. *SunMark Community Bank Hawkinsville Hawkinsville 03/23/1987 HAZLEHURST INVESTORS, INC. *Bank of Hazlehurst Hazlehurst Hazlehurst 11/06/2002 * Lead Bank ** Registered Holding Companies Only -39- BANK HOLDING COMPANIES AND THEIR BANK SUBSIDIARIES NAME CHATUGE BANK SHARES, INC. *Bank of Hiawassee CITY Hiawassee Hiawassee APPROVED 08/23/1995 LIBERTY SHARES, INC. *The Heritage Bank Hinesville Hinesville 10/24/1984 FIRST GEORGIA COMMUNITY CORP. *First Georgia Community Bank Jackson Jackson 12/03/1996 MCINTOSH BANCSHARES, INC. *McIntosh State Bank Jackson Jackson 04/24/1991 CRESCENT BANKING COMPANY *Crescent Bank and Trust Company Jasper Jasper 04/03/1992 JBC BANCSHARES, INC. *Jasper Banking Company Jasper Jasper 07/10/1985 CCF HOLDING COMPANY *Heritage Bank Jonesboro Jonesboro 05/12/1995 MAIN STREET BANKS, INC. *Main Street Bank Kennesaw Covington 07/05/1994 LAFAYETTE BANKSHARES, INC. *The Bank of LaFayette, Georgia LaFayette LaFayette 01/03/1984 FMB BANCSHARES, INC. *Farmers and Merchants Bank The United Banking Company Lakeland Lakeland Nashville 10/11/1984 FIRST SECURITY BANKSHARES, INC. *Northeast Georgia Bank Lavonia Lavonia 11/15/1983 GBC BANCORP, INC. *Gwinnett Banking Company Lawrenceville Lawrenceville 04/15/1997 GWINNETT COMMERCIAL GROUP, INC. *First Bank of the South Lawrenceville Lawrenceville 02/01/2000 ROBINSON BANCSHARES, INC. *Bank of Lenox Lenox Lenox 10/19/1998 LINCOLN BANCSHARES, INC. *Farmers State Bank Lincolnton Lincolnton 12/03/1984 PERSONS BANKING COMPANY, INC. The Farmers Bank *The Peoples Bank The Bank of Perry Spivey State Bank Lithonia Forsyth Lithonia Perry Swainsboro 08/22/1980 THE QUEENSBOROUGH CORPORATION *The First National Bank & Trust Company * Lead Bank -40- Louisville Louisville 11/18/1985 ** Registered Holding Companies Only BANK HOLDING COMPANIES AND THEIR BANK SUBSIDIARIES NAME SOUTH GEORGIA BANKSHARES CORP. *Peoples Bank CITY Lyons Lyons APPROVED 12/17/1980 RIVOLI BANCORP, INC. *Rivoli Bank & Trust Macon Macon 03/21/2001 SNB BANCSHARES, INC. *Security Bank of Bibb County Security Bank of Houston County Macon Macon Perry 08/16/1994 MADISON BANK CORP. *Bank of Madison Madison Madison 07/10/1985 F AND M HOLDING COMPANY, INC. *F & M Bank and Trust Company Manchester Manchester 12/14/1984 ABS INVESTORS, LLC RIVERSIDE BANCSHARES, INC. *Riverside Bank Marietta Marietta Marietta 01/11/1996 12/22/1988 SOUTHERN BANCORP, INC. *Southern National Bank Marietta Marietta 10/06/1998 NATIONAL COMMERCE FINANCIAL BANCORPORATION *NBC Bank, FSB Memphis, TN ** Memphis, TN BALDWIN BANCSHARES, INC. *First National Bank of the South Milledgeville Milledgeville 02/14/1989 CENTURY BANCORP, INC. *Century Bank and Trust Milledgeville Milledgeville 02/22/1993 EXCHANGE BANKSHARES, INC. *Exchange Bank Milledgeville Milledgeville 10/05/1983 U.S. BANCORP U.S. Bank Trust, National Association Minneapolis, MN ** Atlanta THE COLONIAL BANCGROUP, INC. *Colonial Bank Montgomery, AL ** Montgomery, AL MONTICELLO BANCSHARES, INC. *Bank of Monticello Monticello Monticello 05/01/1996 FMB BANKING CORPORATION *Farmers and Merchants Bank Monticello, FL ** Monticello, FL ROYAL BANK OF CANADA RBC CENTURA BANKS, INC. RBC CENTURA BANK *RBC Centura Card Bank Montreal, Canada Rocky Mount, NC Rocky Mount, NC Atlanta 10/16/1998 04/20/2000 04/20/2000 ABC BANCORP First National Bank of South Georgia * Lead Bank -41- Moultrie Albany 03/23/1981 ** Registered Holding Companies Only BANK HOLDING COMPANIES AND THEIR BANK SUBSIDIARIES NAME ABC BANCORP (Continued) The First Bank of Brunswick Cairo Banking Company Central Bank & Trust Merchants and Farmers Bank Southland Bank *American Banking Company Heritage Community Bank Bank of Thomas County Citizens Security Bank Tri-County Bank CITY Moultrie Brunswick Cairo Cordele Donalsonville Dothan, AL Moultrie Quitman Thomasville Tifton Trenton, FL APPROVED 03/23/1981 SOUTHWEST GEORGIA FINANCIAL CORPORATION *Southwest Georgia Bank Moultrie Moultrie 11/18/1980 HEART OF GEORGIA BANCSHARES, INC. *Mount Vernon Bank Mount Vernon Mount Vernon 09/08/1995 THE NASHVILLE HOLDING COMPANY Adel Banking Company *The Citizens Bank Nashville Adel Nashville 05/16/1985 PRUDENTIAL FINANCIAL, INC. PRUDENTIAL IBH HOLDCO, INC. *The Prudential Bank and Trust Company The Prudential Savings Bank, FSB Newark, NJ Newark, NJ Atlanta Atlanta 09/04/2001 09/04/2001 NEWNAN COWETA BANCSHARES, INC. *Newnan Coweta Bank Newnan Newnan 07/25/2001 FIRST CAPITAL BANCORP, INC. *First Capital Bank Norcross Norcross 06/28/1993 FIRST SECURITY CORPORATION ESOP 401(K) PROVISIONS FIRST SECURITY CORPORATION *First Security National Bank Norcross Norcross Norcross 05/12/1997 09/14/1989 SOUTHERN HERITAGE BANCORP, INC. *Southern Heritage Bank Oakwood Oakwood 04/28/1998 FIRST NATIONAL OF NEBRASKA, INC. INFICORP HOLDINGS, INC. *InfiBank, N.A. Omaha, NE Atlanta Atlanta 07/05/2000 07/23/1997 SOUTH GEORGIA BANK HOLDING COMPANY *South Georgia Banking Company Omega Omega 01/19/1999 PATTERSON BANKSHARES, INC. *The Patterson Bank Patterson Patterson 01/17/1986 SUM FINANCIAL CORPORATION *The Citizens Exchange Bank Pearson Pearson 11/23/1998 * Lead Bank ** Registered Holding Companies Only -42- BANK HOLDING COMPANIES AND THEIR BANK SUBSIDIARIES NAME PBC BANCSHARES, INC. *Pelham Banking Company CITY Pelham Pelham APPROVED 10/25/1990 FIRST PEOPLES BANKSHARES, INC. *First Peoples Bank Pine Mountain Pine Mountain 07/12/1995 SWEETWATER FINANCIAL GROUP, INC. *Georgian Bank Powder Springs Powder Springs 07/23/2001 FIRST CITIZENS BANCSHARES, INC. Atlantic States Bank Raleigh, NC ** Fort Myers, FL TATTNALL BANCSHARES, INC. *The Tattnall Bank Reidsville Reidsville 03/03/1986 GEORGIA COMMUNITY BANCORP, INC. Bank of Terrell Commercial State Bank *The Citizens State Bank of Taylor County Reynolds Dawson Donalsonville Reynolds 10/25/1984 CIRCUIT CITY STORES, INC. *First North American National Bank Richmond, VA Kennesaw 07/27/1990 GATEWAY BANCSHARES, INC. *Gateway Bank & Trust Ringgold Ringgold 02/29/1996 NW SERVICES CORPORATION *Northwest Georgia Bank Ringgold Ringgold 12/14/1983 GREATER ROME BANCSHARES, INC. *Greater Rome Bank Rome Rome 03/27/1995 HERITAGE FIRST BANCSHARES, INC. *Heritage First Bank Rome Rome 09/20/2001 ROSSVILLE BANKSHARES, INC. *Rossville Bank Rossville Rossville 08/13/1984 SARDIS BANKSHARES, INC. *Southern Bank Sardis Sardis 11/05/1986 COASTAL BANKSHARES, INC. *The Coastal Bank Savannah Savannah 07/07/1982 FCB FINANCIAL CORPORATION, INC. *First Chatham Bank Savannah Savannah 01/15/2002 FOLKSTON INVESTORS, LLC FIRST NATIONAL CORPORATION *First National Bank Savannah Folkston Folkston 02/20/2002 07/17/1995 THE SAVANNAH BANCORP, INC. Bryan Bank & Trust *The Savannah Bank, National Association Savannah Richmond Hill Savannah 07/09/1990 * Lead Bank ** Registered Holding Companies Only -43- BANK HOLDING COMPANIES AND THEIR BANK SUBSIDIARIES NAME FMCB HOLDINGS, INC. *Farmers and Merchants Community Bank GEORGIA CENTRAL BANCSHARES, INC. *Georgia Central Bank SOPERTON BANCSHARES, INC. *The Bank of Soperton CITY Senoia Senoia Social Circle Social Circle Soperton Soperton APPROVED 02/23/1998 09/06/1984 08/26/1988 UNITED SECURITY BANCSHARES, INC. *United Security Bank Sparta Sparta 02/21/1984 CITIZENS EFFINGHAM BANCSHARES, INC. *Citizens Bank of Effingham FIRST NATIONAL BANC, INC. *First National Bank Springfield Springfield St. Marys St. Marys 11/10/1997 07/17/1996 FIRST SOUTHERN BANCORP *First Southern National Bank Statesboro Statesboro 12/07/2001 GENERAL ELECTRIC COMPANY *Monogram Credit Card Bank of Georgia FMB EQUIBANC, INC. *Farmers & Merchants Bank HENRY COUNTY BANCSHARES, INC. *The First State Bank Stamford, CT Atlanta Statesboro Statesboro Stockbridge Stockbridge ** 07/18/2000 03/07/1983 QUANTUM CAPITAL CORPORATION *Quantum National Bank Suwanee Suwanee 12/18/1995 SWAINSBORO BANKSHARES, INC. *The Citizens Bank of Swainsboro FRONTIER NATIONAL CORPORATION *Frontier National Bank Swainsboro Swainsboro Sylacauga, AL LaGrange 05/27/1992 09/19/2002 SCREVEN BANCSHARES, INC. *Farmers and Merchants Bank Sylvania Sylvania 10/15/1990 FIRST BANK HOLDING COMPANY *Sylvester Banking Company CAPITAL CITY BANK GROUP, INC. *Capital City Bank Sylvester Sylvester Tallahassee, FL Tallahassee, FL 08/22/1983 ** UPSON BANKSHARES, INC. *Bank of Upson Thomaston Thomaston 10/23/1996 WCG BANCSHARES, INC. *West Central Georgia Bank Thomaston Thomaston 12/10/1982 * Lead Bank ** Registered Holding Companies Only -44- BANK HOLDING COMPANIES AND THEIR BANK SUBSIDIARIES NAME THOMASVILLE BANCSHARES, INC. *Thomasville National Bank CITY Thomasville Thomasville APPROVED 08/22/1995 TAG BANCSHARES, INC. *Citizens Bank & Trust Trenton Trenton 06/28/1991 TRI-STATES BANKSHARES, INC. *Bank of Dade Trenton Trenton 04/27/1982 SUMMERVILLE/TRION BANCSHARES, INC. *First National Bank of Chattooga County Trion Summerville 02/14/1986 DURDEN BANKSHARES, INC. *Durden Banking Company, Incorporated Twin City Twin City 02/07/1996 ALTAMAHA BANCSHARES, INC. *Altamaha Bank and Trust Company Uvalda Uvalda 11/03/1980 PAB BANKSHARES, INC. *The Park Avenue Bank Valdosta Valdosta 08/02/1982 THE LANGDALE COMPANY LANGDALE INDUSTRIES, INC. LOWNDES BANCSHARES, INC. *Commercial Banking Company Valdosta Valdosta Hahira Hahira 10/19/1995 10/19/1995 09/16/1985 DBT HOLDING COMPANY *Darby Bank & Trust Co. Vidalia Vidalia 01/26/1990 DOOLY BANCSHARES, INC. *Bank of Dooly Vienna Vienna 04/03/1985 WASHINGTON/WILKES HOLDING COMPANY *Farmers and Merchants Bank Washington Washington 03/20/1986 OCONEE FINANCIAL CORPORATION *Oconee State Bank Watkinsville Watkinsville 10/13/1998 JONES BANCSHARES, L.P. PRIMESOUTH BANCSHARES, INC. *The Blackshear Bank Waycross Blackshear Blackshear 10/29/1993 12/18/1990 WB&T BANKSHARES, INC. Guardian Bank *Waycross Bank & Trust Waycross Valdosta Waycross 11/22/1989 FIRST BURKE BANKING COMPANY *First National Bank of Waynesboro Waynesboro Waynesboro 02/26/1986 ATKINSON COUNTY BANKSHARES CORPORATION *The Peoples Bank Willacoochee Willacoochee 09/18/1980 PEOPLES HOLDING COMPANY *The Peoples Bank * Lead Bank Winder Winder 11/17/1983 ** Registered Holding Companies Only -45- BANK HOLDING COMPANIES AND THEIR BANK SUBSIDIARIES NAME BB&T CORPORATION BB&T Bankcard Corporation *Branch Bank and Trust Company CITY Winston-Salem, NC Columbus Winston-Salem, NC APPROVED 05/26/1998 WOODBURY BANCSHARES, INC. *The Woodbury Banking Company Woodbury Woodbury 12/08/1983 TSB BANCORP, INC. *Talbot State Bank Woodland Woodland 05/02/1988 FIRST CHEROKEE BANCSHARES, INC. *First National Bank of Cherokee Woodstock Woodstock 12/20/1988 CSRA BANK CORP. *First State Bank Wrens Wrens 05/14/1990 WRIGHTSVILLE BANCSHARES, INC. *Bank of Wrightsville Wrightsville Wrightsville 11/03/1986 -46- COMPARATIVE REPORTS OF CONDITION OF STATE-CHARTERED CREDIT UNIONS IN GEORGIA AS OF DECEMBER 31, 2002 WITH COMPARATIVE STATEMENTS AS OF YEAR-END 2001 AND 2000 (AMOUNTS IN THOUSANDS) ASSETS: Cash and Cash Equivalents Total Investments Total Loans (Less: Allowance for Loan Losses) Net Loans Land & Building Other Fixed Assets Total Fixed Assets Other Real Estate Owned Other Assets Total Assets Corporate Credit Union GRAND TOTAL (with Corporate Credit Union) 12/31/2002 12/31/2001 12/31/2000 890,977 847,928 82,102 2,325,016 1,811,380 1,967,236 3,074,650 (30,527) 3,044,122 3,078,463 (22,597) 3,055,866 2,889,587 (19,058) 2,870,529 32,609 12,648 45,257 33,868 13,272 47,140 26,143 11,953 38,096 359 124,248 6,429,980 972 49,956 5,813,242 277 45,017 5,003,257 1,231,874 7,661,854 1,140,505 6,953,747 841,623 5,844,880 LIABILITIES: Total Member Shares & Deposits Total Borrowings Accrued Interest Payable on Deposits/Accrued Dividends Payable on Shares Accounts Payable and Other Liabilities Total Liabilities EQUITY: Accumulated Unrealized Gains(Losses) on Available for Sale Securities Other Comprehensive Income (unless included above) Regular Reserves Other Reserves Undivided Earnings Total Equity Total Liabilities, Shares and Equity Corporate Credit Union GRAND TOTAL (with Corporate Credit Union) 5,546,887 974 2,019 56,188 59,181 5,013,647 3,223 2,737 49,354 55,314 4,312,370 4,621 3,017 25,333 32,971 13,011 (1,772) 186,367 5,500 620,807 823,912 6,658 - 174,666 5,189 557,768 744,281 6,429,980 1,231,874 7,661,854 5,813,242 1,140,505 6,953,747 (181) 160,598 3,562 493,937 657,916 5,003,257 841,623 5,844,880 Number of Credit Unions at Year-end 77 79 80 NOTE: Balance Sheet figures above do not reflect one credit union that was in process of dissolution. At year-end 2002, there were 137 federal credit unions with total assets of approximately $4.4 billion. -47- COMPARATIVE STATEMENT OF EARNINGS AND EXPENSES OF STATE-CHARTERED CREDIT UNIONS IN GEORGIA AS OF DECEMBER 31, 2002 WITH COMPARATIVE STATEMENTS AS OF YEAR-END 2001 AND 2000 (AMOUNTS IN THOUSANDS) OPERATING INCOME: Interest and Fees on Loans Income from Investments Income (Loss) from Trading Securities Other Operating Income Total Gross Income OPERATING EXPENSES: Employee Compensation and Benefits Office Occupancy and Office Operations Expenses Educational and Promotional Expenses Loan Servicing Expenses Professional and Outside Services Provision for Loan Loss Expense Miscellaneous Operating Expenses Total Operating Expenses INCOME (LOSS) FROM OPERATIONS Gain (Loss) on Investments Gain (Loss) on Disposition of Assets Other Non-Operating Income (Expenses) INCOME (LOSS) BEFORE COST OF FUNDS Interest on Borrowed Money Dividends on Shares Interest on Deposits NET INCOME (LOSS) AFTER COST OF FUNDS Required Transfer to Regular Reserves NET INCOME (LOSS) AFTER REQUIRED RESERVE TRANSFER 12/31/2002 12/31/2001 12/31/2000 245,613 90,912 - 255,899 106,296 - 229,297 120,175 - 46,452 43,636 34,841 382,977 405,831 384,313 66,677 37,411 2,799 6,838 13,093 26,903 10,155 163,876 219,101 387 (206) 219,283 13 107,033 37,140 75,122 11,345 63,778 61,309 35,726 2,301 5,695 12,269 17,677 9,652 144,629 261,202 11,686 19 11 272,918 142 140,038 52,931 79,807 15,229 64,578 55,109 31,578 2,436 4,971 11,290 11,096 8,879 125,359 258,954 (74) 27 108 259,015 321 155,264 47,133 56,297 13,869 42,428 NOTE: Income Statement figures above do not reflect one credit union that was in process of dissolution. NOTE: Figures above do not include the Corporate Credit Union's Net Income. -48- STATE-CHARTERED CREDIT UNIONS CITY Albany Alpharetta Athens Athens Athens Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta Atlanta Augusta Augusta Bainbridge Baldwin Carters v ille Columbus Coosa Cordele Cornelia Douglas Dry Branch Duluth East Point Ellenwood Fayetteville Ft. McPherson Garden City Glynco Hapeville Hazle h u rs t LaFayette COUNTY NAME OF CREDIT UNION Dougherty Fulton Clarke Clarke Clarke Cobb DeKalb DeKalb Fulton Fulton Fulton Fulton Fulton Fulton Fulton Fulton Fulton Fulton Fulton Fulton Fulton Fulton Fulton Fulton Fulton Fulton Richmond Richmond Decatur Banks Bartow Muscogee Floyd Cris p Habersham Coffee Twiggs Gwinnett Fulton Clayton Fayette Fulton Chatham Glynn Fulton Jeff Davis Walker Albany Federal Employees Credit Union Mission Partners Employees Credit Union Dairy-Pak Athens Credit Union Educators' Credit Union Georgia Power Northeast Credit Union Chevron Southern Credit Union GTA Credit Union Mutual Savings Credit Union 1st Choice Credit Union Atlanta City Employees Credit Union Atlanta Postal Credit Union Cleaners Credit Union CONSTAR Credit Union Delta Employees Credit Union Georgia Department of Public Safety Credit Union Georgia DOT Credit Union Georgia Peach Credit Union Georgia Telco Credit Union GPC Credit Association Human Services Employees' Credit Union IBEW Local 613 Credit Union Mead Employees Credit Union Pinnacle Credit Union Rich's Employees Credit Union State Employees' Credit Union The Thrift Credit Union Health Center Credit Union Richmond Co.Health Dept. Employees Cr. Union Three Rivers Credit Union Fieldale Credit Union All Star Credit Union Tom's Credit Association Rome Kraft Employees Credit Union Harris Employees Credit Union Ethicon Credit Union CRMC Employees Credit Union White Gold Credit Union Georgia Central Credit Union Fulton Teachers Credit Union American Heritage Credit Union Tara Credit Union Ft. McPherson Credit Union The G. P. A. Credit Union Glynn County Federal Employees Credit Union Hapeville Auto Employees Credit Union Jeff Davis Credit Union Roper Corporation Employees Credit Union BEGIN TOTAL BUSINESS **ASSETS 12/14/1933 02/12/1973 03/25/1957 05/18/1959 03/07/1929 11/14/1933 01/06/1976 12/23/1933 05/15/1946 08/30/1928 11/03/1925 04/01/1972 01/14/1975 03/08/1940 06/22/1970 11/19/1951 03/15/1954 11/30/1943 06/27/1974 07/30/1951 08/13/1980 04/30/1928 11/17/1926 03/04/1938 11/14/1961 10/24/1928 03/10/1976 12/22/1952 03/01/1975 11/24/1980 11/26/1926 12/14/1982 03/31/1955 05/20/1947 02/19/1979 04/11/1972 01/08/1951 05/01/1936 12/02/1930 12/15/1980 01/25/1971 07/23/1948 11/17/1952 04/03/1953 07/09/1982 08/15/1968 05/07/1974 19,445 13,508 312 819 13,249 3,123 9,505 47,970 15,511 33,547 1,330,898 2,970 1,314 2,300,104 10,046 26,060 8,455 929,954 39,259 19,096 4,037 5,691 67,281 35,480 125,499 12,887 34,574 523 6,435 8,311 9,523 8,592 17,102 1,682 7,247 1,226 * 1,231,874 51,449 17,276 60,188 18,435 7,664 13,653 20,369 6,479 1,140 * Credit union was in process of liquidation at year-end and was not required to file a Call Report with NCUA. **Amounts are in Thousands as of 12/31/2002 -49- STATE-CHARTERED CREDIT UNIONS CITY COUNTY Macon Macon Macon Macon Macon Macon Macon Macon Marietta Marietta McIntyre Milledgeville Milledgeville Nashville Norcros s Norcros s Rome Rome Savannah Savannah Savannah Savannah St Simons Island Statesboro T h o mas v ille Toccoa Toccoa Valdosta Valdosta Warner Robins Bibb Bibb Bibb Bibb Bibb Bibb Bibb Bibb Cobb Cobb W ilkin s o n Baldwin Baldwin Berrien Gwinnett Gwinnett Floyd Floyd Chatham Chatham Chatham Chatham Glynn Bulloch Thomas Stephens Stephens Lowndes Lowndes Houston NAME OF CREDIT UNION Central Georgia Regional Credit Union City Employees' Credit Union Georgia Guard Credit Union Macon Firemen's Credit Union Macon Police Credit Union Macon Water Works Credit Union RIG Employees Credit Union Smith and Sons Employees Credit Union C-MAR Credit Union WellStar Credit Union Engelhard Employees' Credit Union Central State Hospital Credit Union Oconee Credit Union Nashville Credit Union Associated Credit Union Genuine Parts Credit Union Floyd County Postal Employees Credit Union Northwest Georgia Credit Union Health Employees Chatham County Credit Union Savannah Federal Credit Union Savannah Postal Credit Union Workmen's Circle Credit Union Sea Island Employees Credit Union CORE Credit Union Flowers Employees Credit League North Georgia Credit Union The Wright Credit Union Southern Pine Credit Union Valdosta Educators Credit Union Combined Employees Credit Union BEGIN TOTAL BUSINESS **ASSETS 02/10/1972 02/28/1951 11/17/1997 04/18/1942 10/02/1950 07/11/1950 01/31/1949 06/18/1973 10/29/1964 07/01/1981 03/24/1980 08/28/1952 01/06/1958 01/01/1973 03/31/1930 03/08/1937 04/17/1926 12/07/1981 08/01/1955 06/10/1931 06/23/1952 02/06/1950 06/02/1980 08/01/1974 02/28/1972 04/05/1982 11/18/1963 07/30/1954 01/18/1973 10/09/1969 16,395 2,778 4,081 2,679 517 620 9,253 477 50,020 17,130 613 8,656 2,526 9,382 685,828 5,998 1,769 46,502 4,456 11,135 12,273 13,803 29,878 31,014 18,943 16,266 8,232 33,840 7,926 9,100 * Credit union was in process of liquidation at year-end and was not required to file a Call Report with NCUA. **Amounts are in Thousands as of 12/31/2002 -50- FEDERAL CREDIT UNIONS* CITY NAME OF CREDIT UNION ALBANY Artesian City Federal Credit Union ALBANY Doco School Employees Federal Credit Union ALBANY Federal & State Inspectors Federal Credit Union ALPHARETTA Yard Wide Federal Credit Union ATHENS Clarke Community Federal Credit Union ATHENS Reliance Athens Employees Federal Credit Union ATHENS University Employee's Federal Credit Union ATLANTA AHAE Federal Credit Union ATLANTA Atlanta Federal Credit Union ATLANTA Atlanta Kemba Federal Credit Union ATLANTA Atlanta Teachers Federal Credit Union ATLANTA B.O.N.D. Community Federal Credit Union ATLANTA Big Bethel AME Church Federal Credit Union ATLANTA CDC Federal Credit Union ATLANTA Circle 10 Federal Credit Union ATLANTA Dixsea Federal Credit Union ATLANTA GEMC Federal Credit Union ATLANTA Georgia Federal Credit Union ATLANTA Georgia Power Federal Credit Union ATLANTA Georgia State University Federal Credit Union ATLANTA Grant Park SAND Federal Credit Union ATLANTA Greater Atlanta Catholic Federal Credit Union ATLANTA Northside Federal Credit Union ATLANTA Phenix Federal Credit Union ATLANTA Piedmont Hospital Federal Credit Union ATLANTA Powerco Federal Credit Union ATLANTA SPC Federal Credit Union ATLANTA The Coca-Cola Company Family Federal Credit Union ATLANTA W & A Federal Credit Union ATLANTA Wheat Street Church Federal Credit Union AUGUSTA Augusta Metro Federal Credit Union AUGUSTA Augusta Seaboard System Federal Credit Union AUGUSTA Augusta VAH Federal Credit Union AUGUSTA CSRA Federal Credit Union AUGUSTA RCT Federal Credit Union AUGUSTA Tabernacle Federal Credit Union AUGUSTA United Neighborhood Federal Credit Union AUGUSTA University Health Federal Credit Union AVONDALE ESTATE Peachstate Federal Credit Union BRUNSW ICK Bestwall Brunswick Federal Credit Union BRUNSW ICK Glynn Teachers Federal Credit Union BRUNSW ICK Glynn-Brunswick Mem. Employee Federal Credit Union BRUNSW ICK GP Brunswick Federal Credit Union BRUNSW ICK Hercules Brunswick Federal Credit Union BRUNSW ICK SeaPak Federal Credit Union CARTERSVILLE Etowah Valley Federal Credit Union CHATSWORTH Murray County Federal Credit Union YEAR TOTAL CHARTERED **ASSETS 1950 11,170 1959 48,603 1954 5,447 1966 8,062 1969 14,590 1971 6,022 1967 6,686 1954 109 1958 9,264 1966 23,848 1935 8,371 1972 30,213 1995 142 1949 153,148 1961 35,072 1956 3,145 1969 53,210 1958 289,219 1935 50,528 1972 12,935 1975 1,443 1971 2,272 1970 9,520 1948 32,451 1974 13,130 1935 152,139 1984 916 1965 89,167 1968 4,678 1956 1,369 1961 46,503 1952 6,684 1953 41,911 1953 46,948 1963 3,078 1961 167 2002 0 1959 19,346 1969 16,428 1960 430 1953 98,629 1961 1,014 1940 37,848 1941 13,977 1957 2,100 1970 9,073 1978 1,842 **Amounts are in Thousands as of 12/31/2002 -51- FEDERAL CREDIT UNIONS* CITY CLARKESVILLE CLA YTON COLUMBIA COLUMBUS COLUMBUS COLUMBUS COLUMBUS COLUMBUS COLUMBUS COLUMBUS COLUMBUS DALTON DALTON DANIELSVILLE DECATUR DECATUR DECATUR DECATUR DECATUR DORA VILLE DOUGLA S DULUTH EAST POINT EAST POINT ELBERTON FAYETTEVILLE FT BENNING FT. GORDON FT. OGLETHORPE GA INESVILLE GA INESVILLE GRACEWOOD HINESVILLE JASPER JESUP JESUP JONESBORO LAFAYETTE LAWRENCEVILLE LINDA LE M A CON M A CON M A CON M A CON M A CON M A CON M A RIETTA NAME OF CREDIT UNION Habersham County Federal Credit Union Rabun-Tallulah Federal Credit Union Ledger-Enquirer Federal Credit Union AFLAC Federal Credit Union Central of Georgia Federal Credit Union Chattahoochee Federal Credit Union GEPCO Federal Credit Union Golden Federal Credit Union M E A Federal Credit Union MCTEA Federal Credit Union Members Alliance Federal Credit Union HMC Employee Federal Credit Union World Federal Credit Union Madison County Georgia Federal Credit Union Emory Federal Credit Union MedCom Federal Credit Union Omega Psi Phi Fraternity Federal Credit Union Platinum Federal Credit Union South DeKalb Church Federal Credit Union Texaco Employees Federal Credit Union Coffee County Teachers Federal Credit Union State Farm Georgia Federal Credit Union Marta Employees Federal Credit Union Nekoosa Federal Credit Union E L C O Federal Credit Union The Southern Federal Credit Union TIC Federal Credit Union Fort Gordon Federal Credit Union Hutcheson Memorial Federal Credit Union Hallco Federal Credit Union Lanier Federal Credit Union Gracewood Federal Credit Union Fort Stewart Georgia Federal Credit Union PiCo Federal Credit Union Altamaha Federal Credit Union Interstate Unlimited Federal Credit Union JWI Group Employees Federal Credit Union Walker County Educators Federal Credit Union Gwinnett Federal Credit Union BEKA Federal Credit Union Brosnan Yard Federal Credit Union Georgia Power Macon Federal Credit Union HCA Federal Credit Union Keebler Employees Federal Credit Union Local 461 Federal Credit Union MidSouth Federal Credit Union Georgia Methodist Federal Credit Union YEAR TOTAL CHARTERED **ASSETS 1978 6,263 1977 520 1955 1,258 1964 90,037 1951 2,263 2001 475 1935 3,633 1957 282 1960 35,411 1964 458 1934 28,425 1958 5,369 1961 2,287 1977 694 1968 84,733 1970 23,043 1986 1,069 1999 6,696 1996 3,209 1956 38,276 1964 3,185 1991 86,998 1935 9,416 1958 400 1975 2,125 1963 125,943 1956 162,808 1958 31,508 1955 3,212 1971 25,425 1969 11,230 1961 18,151 1964 51,224 1959 1,274 1955 32,327 1968 16,451 1964 1,047 1971 5,085 1961 60,898 1974 5,933 1976 4,411 1935 3,823 1978 918 1973 3,810 1973 1,662 1936 82,846 1960 11,966 **Amounts are in Thousands as of 12/31/2002 -52- FEDERAL CREDIT UNIONS* CITY NAME OF CREDIT UNION M A RIETTA M A RIETTA MOULTRIE MOULTRIE NASHVILLE NEWNAN NORCROSS NORCROSS OGLETHORPE REYNOLDS RINGGOLD ROME ROME SAVANNAH SAVANNAH SAVANNAH SAVANNAH SAVANNAH SAVANNAH SAVANNAH SAVANNAH SAVANNAH SAVANNAH SHENANDOA H ST MARYS SWAINSBORO THOM A SVILLE THOM A SVILLE TOCCOA TOCCOA TOCCOA TOCCOA TRENTON VALDOSTA VALDOSTA VALDOSTA VALDOSTA WARNER ROBINS WARNER ROBINS WARNER ROBINS W A YCROSS W A YCROSS YOUNG HARRIS Lockheed Georgia Employees Federal Credit Union Maco Educators Federal Credit Union Colquitt County Teachers Federal Credit Union Moultrie Employee's Federal Credit Union Berrien Teachers Federal Credit Union Coweta Cities & County Employees Federal Credit Union City of Hope Federal Credit Union Excel Federal Credit Union Flint River Employee Federal Credit Union Flint Federal Credit Union Catoosa Teachers Federal Credit Union Coosa Valley Federal Credit Union Georgia Power Northwest Federal Credit Union Chatham Co. School Employees Federal Credit Union Chatham Federal Credit Union Coastal Georgia Federal Credit Union FAB Church Credit Union GA-PA Federal Credit Union Georgia Heritage Federal Credit Union Memorial Medical Center Federal Credit Union Mercy Federal Credit Union Savannah Seaboard Systems Federal Credit Union Savastate Teachers Federal Credit Union K-Mart GDC Federal Credit Union Gilman United Federal Credit Union Piney Grove Community Credit Union Multiple Employee Group Federal Credit Union Rose City Federal Credit Union Coats & Clark Federal Credit Union Patterson Pump Federal Credit Union Stephens County Comm. Federal Credit Union Stephens-Franklin Teachers Federal Credit Union DEA Federal Credit Union Georgia Power Valdosta Federal Credit Union Locoga Federal Credit Union Southeastern Federal Credit Union Valdosta Teachers Federal Credit Union HEA Federal Credit Union PWR Federal Credit Union Robins Federal Credit Union Community United Federal Credit Union Ware County School Employee's Federal Credit Union Towns Union Education Federal Credit Union YEAR TOTAL CHARTERED **ASSETS 1951 501,141 1960 104,965 1957 2,491 1955 1,306 1960 1,125 1971 12,264 2002 245 1952 70,491 1982 2,324 1964 3,084 1958 10,843 1954 84,694 1935 31,818 1954 12,893 1957 16,396 1962 1,471 1954 112 1960 1,528 1940 70,112 1972 5,207 1976 2,755 1950 4,304 1950 2,315 1970 4,786 1943 62,943 1947 47 1952 4,115 1959 15,041 1940 32,832 1976 2,052 1972 69 1960 9,784 1960 554 1958 11,865 1960 2,841 1953 56,587 1958 9,993 1961 17,350 1966 334 1954 685,479 1966 9,235 1962 3,078 1976 2,801 **Amounts are in Thousands as of 12/31/2002 -53- SALE OF CHECKS OR MONEY ORDER CORPORATIONS AS OF DECEMBER 31, 2002 NAME OF LICENSEE ADP Payroll Services, Inc. All Business Corporation, Inc. American Express Travel Related Services Co., Inc. Citicorp Electronic Financial Services, Inc. Comdata Network Inc. of California Fast Petroleum, Inc. FFP Money Order Company, Inc. Globex Financial Services , Inc., Global Express MO GroupEx Financial Corporation GSC Enterprises, Inc. Integrated Payment Systems Inc. Interpayment Services Limited Merchants Express Money Order Company MoneyGram Payment Systems, Inc. National Bonded Money Orders, Inc. North American Money Order Company, Inc. Ruesch International, Inc. Thomas Cook Travellers Cheques, Ltd. Travelers Express Company, Inc. Travelex Currency Services , Inc. Travelex, Inc. Travellers Cheque Associates LTD Western Union Financial Services, Inc. D/B /A U. S. Express Money Order American Express Travel Related Services Comdata Network Inc. of California Fast Food & Fuel Financial Express Money Orders Globex Financial Services, Inc., Global Express MO Fidelity Express Money Order Company MEMO National Bonded Money Orders North American Money Order Company, Inc. Travelers Express Company Travellers Cheque Associates, Ltd. MAIL CITY/STATE Roseland, NJ Decatur, GA New York, NY Chicago, IL Brentwood, TN Dalton, GA Forth Worth, TX Silver Springs, MD La Mirada, CA Sulphur Springs, TX Greenwood Village, CO Toronto-Ontario, Canada Wormleysburg, PA Minneapolis, MN Alexandria, LA Alpharetta, GA Washington, DC Toronto-Ontario, Canada Minneapolis, MN Toronto-Ontario, Canada Toronto-Ontario, Canada New York, NY Greenwood Village, CO # OF GEORGIA AGENTS 1 214 1857 0 356 0 0 512 3 170 1514 142 2 496 97 774 1 1 2388 164 1 110 1541 NOTE: All State and National Banks, Federal Savings and Loan Associations, Federal Savings Banks, and State and Federal Credit Unions conducting a lawful banking business in Georgia may sell checks without obtaining a special license. A listing of State and National Banks and State and Federal Credit Unions is included herein. A listing of Federal Savings and Loan Associations and Federal Savings Banks may be obtained from the Office of Thrift Supervision. -54- MORTGAGE DIVISION SUMMARY OF ACTIVITIES During 2002, 772 new applications were received plus 31 applications for reinstatement of withdrawn, revoked, or expired licenses. In 2002, 652 new applications were approved and 28 applications were withdrawn. There were 25 reinstatements of either revoked, expired, withdrawn, or suspended licenses. A total of 419 licenses either expired, were withdrawn or were revoked during the year. In addition, four licensees converted to notificant status during the year. As of December 31, 2002, there were 2,922 active licensees/registrants. DISTRIBUTION OF LICENSEES/REGISTRANTS TYPE Brokers Lenders Registrants TOTAL 2,296 577 49 PERCENT OF TOTAL 78% 20% 2% TOTALS 2,922 100% A complete list of mortgage licensees and registrants is available on the Department's website at: http://www.state.ga.us/dbf/mortgage.html. A hard copy listing is also available from the Department. -55- FOREIGN BANKING ORGANIZATIONS DOING BUSINESS IN GEORGIA INTERNATIONAL BANK AGENCIES NAME AND ADDRESS ABN AMRO Bank N. V. * Suite 1200 One Ravinia Drive Atlanta, Georgia 30346-2103 FOREIGN LOCATION Amsterdam, The Netherlands The Bank of Nova Scotia Suite 2700 600 Peachtree Street, NE Atlanta, GA 30308 Toronto, Ontario, Canada The Bank of Tokyo-Mitsubishi, Ltd * Georgia-Pacific Center, Suite 3450 133 Peachtree Street, NE Atlanta, GA 30309-1808 Tokyo, Japan Commerzbank Aktiengesellschaft * Promenade Two, Suite 3500 1230 Peachtree Street, NE Atlanta, Georgia 30309-3200 Frankfurt, Germany KBC Bank N.V. * Marquis One Tower-Peachtree Center 245 Peachtree Center Avenue, Ste. 2550 Atlanta, Georgia 30303 Brussels, Belgium * Operate as a Representative Office but maintain an Agency license. AGENT, TELEPHONE DATE PERMIT ISSUED W.P. Fresches Senior Vice President 770-396-0066 June 24, 1977 W.J. Brown Vice President 404-877-1500 May 27, 1977 Tomoyuki Oku General Manager 404-577-2960 April 1, 1996 Harry P. Yergey Senior Vice President & Manager 404-888-6500 October 31, 1978 Michael Sawichi Vice President/Regional Manager 404-584-5466 March 20, 1980 INTERNATIONAL BANK FACILITIES NAME AND ADDRESS AmTrade International Bank of Georgia* 1360 Peachtree Street, NE One Midtown Plaza, Suite 1105 Atlanta, Georgia 30309 SunTrust Bank SunTrust Robinson Humphrey Capital Markets International Division 303 Peachtree Street, NW Suite 2300, M/C 3912 Atlanta, Georgia 30308 AGENT, TELEPHONE DATE PERMIT ISSUED Ruben L. Verdes Senior Vice President/CFO (404) 898-1100 March 19, 1993 Jeff Warner VP/Director, Foreign Exchange (404) 724-3480 February 2, 1982 *AmTrade International Bank of Georgia is currently in receivership. -56- FOREIGN BANKING ORGANIZATIONS DOING BUSINESS IN GEORGIA INTERNATIONAL REPRESENTATIVE OFFICES Parent Allied Irish Banks, PLC Ireland Cooperative Centrale Raiffeisen-Boerenleenbank B.A. The Netherlands Mizuho Corporate Bank, Ltd. Japan Mizuho Corporate Bank, Ltd. Japan BNP Paribas France Corporation Doing Business in Georgia Allied Irish Bank Atlanta Rabobank Nederland Atlanta Mizuho Corporate Bank, Ltd. Atlanta Mizuho Corporate Bank, Ltd. Atlanta BNP Paribas Atlanta -57- DOMESTIC REPRESENTATIVE OFFICES OUT OF STATE REPRESENTATIVE OFFICES Registrant Bank of the West Walnut Creek, CA Corporation Doing Business in Georgia Bank of the West The Bank of New York Company, Inc. New York, NY BNY Business Center, Inc. Capital Guardian Trust Company Los Angeles, CA Capital Guardian Trust Company Citigroup, Inc. New York, NY Citicorp Leasing, Inc. Citicorp North America, Inc. Primerica Financial Services Home Mortgages, Inc. Citifinancial Services, Inc. Compass Bank Birmingham, AL Compass Multistate Services Corporation Deutsche Bank AG New York, NY Deutsche Bank Securities, Inc. Financial Federal Savings Bank Memphis, TN Financial Federal Savings Bank First International Bank Hartford, CT First International Bank First Tennessee National Corporation Chattanooga, TN First Tennessee National Bank FleetBoston Corporation Boston, MA Fleet Capital Corporation Fleet National Bank Fleet Business Credit, LLC Foster Bank Chicago, IL Foster Bank Freemont General Corporation Anaheim, CA Freemont Investment & Loan Gulf Coast Bank & Trust Company New Orleans, LA Gulf Coast Bank & Trust Company Harris Trust and Savings Bank Chicago, IL Beneficial Corporation Prospect Heights, IL Harris Trust and Savings Bank Beneficial Mortgage Co. of Georgia IBJ Whitehall Bank & Trust Company New York, NY IBJ Whitehall Business Credit Corporation -58- DOMESTIC REPRESENTATIVE OFFICES OUT OF STATE REPRESENTATIVE OFFICES Registrant J.P. Morgan Chase & Company New York, NY Corporation Doing Business in Georgia Chase Manhattan Mortgage Corporation J.P. Morgan Securities, Inc. Brown & Company Securities Corporation Chase Manhattan Automotive Finance Corporation LaSalle Bank, N.A. Chicago, IL LaSalle Bank, N.A. / LaSalle Business Credit, Inc. MBNA Corporation Wilmington, DE MBNA Marketing Systems, Inc. Mellon Financial Corporation Pittsburgh, PA AFCO Credit Corporation Dreyfus Service Corporation Mellon Financial Services Corporation #1 Buck Consultants, Inc. Mellon Ventures, Inc. Merrill Lynch & Company, Inc. Jacksonville, FL Mizuho Corporate Bank, Ltd. New York, NY Nara Bank, N.A. Los Angeles, CA Nexity Financial Corporation Birmingham, AL Omni National Bank Fayetteville, NC The Provident Bank Cincinnati, OH Silicon Valley Bank Santa Clara, CA South County Bank Rancho Santa Margarita, CA Southern Pacific Bank Torrance, CA State Street Corporation Boston, MA Sunrise Bank of Arizona Phoenix, AZ Merrill Lynch Credit Corporation Mizuho Corporate Bank, Ltd. Nara Bank, N.A. Nexity Bank Omni National Bank The Provident Bank PCFS Mortgage Resources, LLC Silicon Valley Bank East South County Financial Services Coast Business Credit State Street Bank & Trust Company Sunrise Bank of Arizona d/b/a Sunrise Bank -59- DOMESTIC REPRESENTATIVE OFFICES OUT OF STATE REPRESENTATIVE OFFICES Registrant UBS Warburg LLC Stamford, CT Corporation Doing Business in Georgia UBS Warburg LLC WFC Holdings Corporation San Francisco, CA Wells Fargo Bank, N.A. Webster Bank, FSB Waterbury, CT Whitehall Business Credit Corp. Zions Bancorporation San Diego, CA Zions Small Business Finance OUT OF STATE TRUST PRODUCTION OFFICES Registrant The Bank of New York Company, Inc. New York, NY Corporation Doing Business in Georgia The Bank of New York Trust Company of Florida, N.A. Bessemer Trust Company N.A. New York, NY Bessemer Trust Company, N.A. Capital City Bank Group, Inc. Tallahassee, FL Capital City Bank Diversified Trust Company Memphis, TN Diversified Trust Company Exeter Trust Company Exeter, NH Manning & Napier Advisors, Inc. Merrill Lynch Group, Inc. New York, NY Merrill Lynch Trust Company of North Carolina Atlantic Trust Company, N.A. Boston, MA Atlantic Trust Company, N. A. Principal Holding Company Des Moines, IA Delaware Charter Guarantee & Trust Company operating as Trustar Retirement Services -60- DOMESTIC REPRESENTATIVE OFFICES IN-STATE REPRESENTATIVE OFFICES Registrant Bank of Alapaha Nashville Bank of Terrell Dawson Community Bank & Trust - Troup LaGrange Crescent Bank and Trust Company Jasper FLAG Financial Corporation Atlanta FMCB Holdings, Inc. Senoia First Security Corporation Norcross Georgia Bank and Trust Co. of Augusta Augusta Habersham Bank Cornelia Horizon Bank Decatur PAB Bankshares, Inc. Valdosta Riverside Bancshares, Inc. Marietta South Georgia Bank Glennville Southern Horizon Bank Leary Synovus Financial Corporation Columbus TSB Bancorp, Inc. Woodland United Community Bank Blairsville Corporation Doing Business in Georgia Cook Community Bank (Bank of Alapaha) Bank of Lee County (trade name) Community Bank & Trust Crescent Mortgage FLAG Bank FLAG Mortgage El Banco de Nuestra Comunidad, a division of FLAG Bank Farmers and Merchants Community Bank First Security National Bank Georgia Bank and Trust Company Mortgage Habersham Bank Horizon Bank The Park Avenue Bank Riverside Bank Riverside Residential Lending, Inc. South Georgia Bank Southern Horizon Bank First Coast Community Bank d/b/a Synovus Affiliate SBA Lending Talbot State Bank United Community Bank -61- DOMESTIC REPRESENTATIVE OFFICES IN-STATE REPRESENTATIVE OFFICES Registrant United Community Banks, Inc. Marietta Wilkinson County Bank Irwinton Corporation Doing Business in Georgia United Community Banks Wilkinson County Bank -62- NOTES Department of Banking and Finance 2990 Brandywine Road, Suite 200 Atlanta, GA 30341-5565 Phone: (770) 986-1633 Fax: (770) 986-1654 Internet site: http://www.gadbf.org -63-