GEORGIA CO M M U N I T I E S
F I R S T
FALL 2023
Your Innovation Journey Resource
THE TIME IS
NOW
2024 PROGRAM & EVENTS PREVIEW | FALL ADVOCACY HIGHLIGHTS
Is your community bank thriving? Meet Scott. Scott works hand-in-hand with community banks in the Southeast to find ICBA member benefits that help them achieve their bank’s goals. When he’s not exploring new ways to connect with bankers, he’s spending time in the great outdoors, hiking, camping, and adventuring. Let Scott help you explore all the many options ICBA has to offer your community bank.
Learn more at icba.org/membership
CONTENTS
F E AT U R E S FALL 2023
C B A S TA F F John McNair President & CEO john@cbaofga.com
Moving Forward Together pg.12. 2
Why “Tech-Up” and Why Now?
3
L.E.A.D. - Equipping Our Members
5
CBA Night at Atlanta Braves Major Success
Georgia Fintech Academy and Queensborough National Bank pg. 20. professional development
ADVOCACY
7 9 10 11
CBA Fall Clay Shoot Winners
CBA Town Hall Talks in Shelman & Vidalia $25 to Win $2,500
Thank You Advocacy Fund Contributors
s pot l i g h ts
12 14 16 19 20 22
Moving Forward Together: Insights from CBA’s Innovation Committee Co-Chairs Get Involved: Four Fintech Organizations You Need to Explore Tech Talk
Innovation Station: The Great Digital Strategy Reset
Georgia Fintech Academy and Queensborough National Bank Brothers Serving Others: Neil & Mark Stevens Share Insights on Serving as CBA Chair
2023 Programs
Kristi Greer Senior Vice President Professional Development kristi@cbaofga.com
ICBA Affiliate Education Program
Lindsay Greene Senior Vice President Member Services lindsay@cbaofga.com
26
Education Buzz: Thought Leadership
32
Plan Your Year with CBA 2024 Programs & Events
27
33 34 36 37
CONNECT 2024 Save the Date
Decreasing Cyber Fraud with Knowledge!
Advanced BSA Professionals Meet on St. Simons Isalnd
member services
38 40 42 44 46
Time our for trivia: Q’s and A’s to enlighten portfolio managment
Cyber Security Planning vs. Cybersecurity Compliance: What’s the Difference?
Raise Your Brand Awareness and Reach Top Decision Makers in Georgia’s Community Banks Innovate to compete for the SMB market
CBA’s 2023 Preferred Service Providers
On the cover: INNOVATION - The Time is NOW! s t ay co n n e c t e d
@CBAofGeorgia
Lori Godfrey Executive Vice President and Chief of Staff, Government and Regulatory Relations lori@cbaofga.com
@CBAGeorgia
Cassie Cornell Assistant Vice President Digital Strategy and Professional Development Marketing cassie@cbaofga.com Becky Soto Assistant Vice President Professional Development and LEAD Board becky@cbaofga.com Connie Shepard Assistant Vice President Professional Development and Member Engagement connie@cbaofga.com Ellen Shea, CMP Director of Association Services ellen@cbaofga.com Gwen Lanaghan Staff Accountant gwen@cbaofga.com
@company/ cbaofgeorgia
Community Bankers Association of Georgia 1640 Powers Ferry Road SE, Building 28, Suite 100, Marietta, GA 30067-1425 (770) 541-4490 or (800) 648-8215 • Fax (770) 541-4496 | www.cbaofga.com • cba@cbaofga.com Fall 2 0 2 3 | G e or g i a C om m un i ti es F i rs t | 1
VANTAGE POINT
Why “Tech-Up” and Why Now?
I have written a lot about the importance for CBA members to implement new technology into their businesses and seemingly, many are getting the message. The chart below from Qwickrate illustrates that the average efficiency ratio for Georgia’s community banking industry is at a 4-year low hovering just above 60%. Since 2020, there has been almost a full 10% drop! So, if we as an industry are moving in the right direction, why am I still pounding the drum for all to “Tech-Up” now?
John McNair President & CEO Community Bankers Association of Georgia
capabilities today are far more comprehensive. According to my friend David Saylor from Genesys Technology Group, there are currently over 10,000 Fin Tech companies out in the market today. The result is new competitors, who we never could have imagined, that have entered the financial servicesTherefore, the defensive mindset must change to an offensive one and we must incorporate a pro-active technology strategy into our overall strategic planning and plan to fund appropriately during budget season. As your community bank-only association, we have taken a leadership role in developing partnerships, programs, and curriculum to help you develop an offensive “Tech-Up” strategy. We have partnered with all the leading technology companies in Atlanta such as ATDC, FinTech Atlanta, Technology Association of Georgia, and Georgia FinTech Academy. Additionally, the ICBA ThinkTECH Accelerator program is now located here in Atlanta and will provide exceptional, ground level opportunities for CBA and ICBA members to engage first hand with burgeoning technology companies. Finally, for the third year in a row CBA will offer the premier technology event for Georgia’s community banks. This year, CBA Tech Talk will be December 5-6 and feature banker to banker learning roundtables facilitated by industry experts and experienced community bankers.
(Source: Qwickrate QwickAnalytics tool. Statistics for 140 community banks domiciled in Georgia- all under $10 billion in assets)
Simply, the process of improvement is never ending. Many of us that have been around for a long time can recall a day when there were no ATM machines, no such thing as remote deposit capture, online banking, and so on. As an industry, we often made defensive technology investments; however, the difference is the pace of change has accelerated drastically AND the technological
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The fourth quarter is the time for planning and budgeting. I again continue to urge you to incorporate a “Tech-Up” mindset for both. Blessing to all for a wonderful Holiday Season and thank you for your support of CBA!
FROM THE TOP
Neil Stevens President & CEO Oconee State Bank, Watkinsville 2023-2024 CBA Chairman
L.E.A.D. - Equipping Our Members
You are probably aware we are putting major emphasis on Four Focus Items this year. The four items spell the acronym L.E.A.D.
L-Love Our Members E-Equip Our Members A-Affirm Our Members D-Develop Our Members In the last issue of Georgia’s Communities First, I wrote about what it means to LOVE our members. In this issue, we will dig into the “E” in L.E.A.D. – Equipping Our Members. Loving our members is about our core behaviors and actions that demonstrate love on a regular basis. As we said in the last article, without love, nothing we do is as effective, productive or impactful. But as a premier banking association, one of our most widely accepted responsibilities is to equip our members with the tools, training, and preparation necessary for them to be successful and achieve their personal and professional goals. Equipping is the sum of three parts – providing the tools, providing the training, and providing the preparation necessary for one to become elite in their role. It’s typical to train for physical activities. Few would consider running a marathon without running 5K’s, 10K’s, and even a half-marathon before taking on the BIG challenge. The same is true in sports. Athletes train for the activity, be it football, basketball, or baseball. They spend countless hours in the weight room, on the field, and in classrooms training for the upcoming season or next game. Through proper training, they are given the tools necessary to compete at an elite level. Preparation, however, is more specific to the individual experience of the event. Before any team game, coaches put together a game plan tailored to the specific players and skillsets of the opposition, and the talents and skills of their own players. This game plan prepares the team, specifically, for the upcoming game.
Training is aimed at giving others the tools necessary to complete their job-related tasks. Preparation (the game plan) provides others the discernment and soft skills necessary to give the service customers deserve, interact with team members in a positive way, work collaboratively to solve problems, and fulfil the company’s Vision and Mission within the framework of the company’s Values. Equipping a team to succeed is a daunting task as each team member has different skills, talents, motivations, and goals. Additionally, equipping others involves continually being a role model. To train and prepare others the leader must be tireless in his or her personal effort to improve.
Equipping others is not glamorous work. Constantly training and preparing is the work of champions. We are in awe of superstar athletes, great business leaders, the actor who brings the pages of a book to life, and the musician who can sing or play an instrument for hours without missing a note. As fans and supporters, we only see the stunning results, not the hard work and sacrifice that leads to a beautiful performance. These champions may be talented, but the performances we enjoy result from thousands of hours of training and preparation. One of our biggest strengths at The Community Bankers Association is equipping our members. I am proud of what we have accomplished in this area. I commit to you to do all within my power to preserve this special strength. But, to do so, the education committee, the CBA staff, and I need your help! We must do it together. Please get involved by volunteering on the education committee, signing up for classes, showing up to classes, giving feedback, and having a passion to equip yourself and your team members. By locking arms, we will build champions in our banks who will leave legacies for years to come. Thank you. Sincerely,
Fall 2 0 2 3 | G e or g i a C om m un i ti es F i rs t | 3
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ADVOCACY
CBA Night at Atlanta Braves - A Major Success
Thank you to everyone who joined CBA for the first annual CBA night at the Atlanta Braves. The evening started with a pre-game tailgate at Affinity Bank, then over 100 community bankers enjoyed the game together in the special CBA section to cheer on Braves. Special thanks to Chris Cochran, Affinity Bank, for hosting. This great fundraising event for CBA’s advocacy activities raised nearly $2,000. “The CBA Braves event was more than just a baseball game. It is about building relationships with different bank employees and their families,” said Lori Godfrey, EVP, Government and Regulatory Relations at CBA. “Both politics and community banking are about relationship building. From the front line teller to the CEO of our member banks, each and every employee is important and has a voice for community bankers in Georgia.” A sincere thank you to our MVP tailgate sponsors Atris Technologies; Integris; McNair, McLemore, Middlebrooks & Co., LLC; Nationwide Loan Inspections and Quantalytix. We’re already making plans for next year! Sponsorships available for 2024 CBA Day at the Braves! Contact Lindsay Greene for more information at lindsay@ cbaofga.com or 770.541.0376.
Fall 2 0 2 3 | G e or g i a C om m un i ti es F i rs t | 5
SERVICES GENERAL COUNSEL
T. Daniel Brannan
Atlanta Office dbrannan@jamesbatesllp.com
As General Counsel, our Financial Institutions team assists our clients in managing legal and regulatory exposure, training, and best practice development. Our Financial Institutions team – and our firm as a whole – has the depth of experience and resources available to assist your bank in navigating legal matters and answering questions. We are directly accessible to your employees and board of directors at all times to ensure a professional, timely resolution of issues or questions. We are committed to being well-acquainted with your organization, its strategic priorities, and with your employees, shareholders, and board of directors so that we
wisely manage each matter in the best interests of all. We also work to ensure that our knowledge of your policies, procedures, general operations, strategic goals, and higher level business plans remains up to date and that our recommendations on any issue help you implement same with best practice in mind. Our ongoing representation is designed to serve as an integrated resource for your institution, and to be a right hand on any particular topic, regardless of its scope, at any time. Our goal is to bring our skill sets, experiences, and resources alongside you, and help your bank reach its ultimate potential.
ACCESSIBILITY Corrie E. Hall
Macon Office chall@jamesbatesllp.com
We offer all of our clients open lines of communication. We are committed to a high standard of responsiveness and to managing your matters at the pace your business runs. We employ our knowledge of your institution to internally allocate our most efficient and effective
resources to ensure that our external response to you is coordinated, professional, and guided by expertise and experience. If you need us, call us. Our phone numbers are direct lines to capable, experienced attorneys, ready to make you feel like your call is to another member of your team.
RELATIONSHIP Michael N. White
Athens Office mwhite@jamesbatesllp.com
As General Counsel, we want to be part of your team and a contributor to your success. As our relationship grows, we will develop an understanding of your needs, increasing our efficiency in handling your matters. We will understand your core system, ancillary software platforms, your policies and procedures, your
SERVICES OFFERED Doroteya N. Wozniak
Atlanta Office dwozniak@jamesbatesllp.com
Strategic Planning Corporate Governance Navigating the Regulatory Environment Deposit Compliance Loan Compliance Commercial Loan Closings Employee, Officer, and Board Training Landlord/Tenant Representation Employment Matters Vendor Contract Review
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management structure, and your strategic goal, which will allow us to provide you with uniquely tailored legal services. We believe in superior client service and endeavor to foster a relationship with each client that reflects this standard of excellence.
Bankruptcy Case Management Transcription of Board Meetings Resolution of Special Assets Insurance Reviews Cyber Security Assessments Risk Management Audit Assistance Mergers and Acquisitions
ATHENS 1 Press Place Suite 200 Athens, GA 31601
ATLANTA 2827 Peachtree Road, NE Suite 300 Atlanta, GA 30305
MACON 231 Riverside Drive Suite 100 Macon, GA 31201
ADVOCACY Bankers and associate members came together to honor two former bankers and raise funds for CBA’s all-important advocacy efforts at the fall clay shoots. The Charlie Curry Memorial Clay Shoot, Wynfield Plantation, Albany, and the Chuck Harwell Memorial Clay Shoot, Burge Plantation in Mansfield. Family members of both Charlie and Chuck attended the events. The sold-out tournaments featured beautiful fall weather, friendly competition and a day full of networking and fellowship for a good cause. Lori Godfrey, CBA’s Chief of Staff and EVP of Government & Regulatory Relations updated attendees on CBA’s legislative efforts and advocacy efforts. Special thanks to Premier Sponsor Abram Armored and all sponsors for your generous support.
Charlie Curry Memorial Clay Shoot Winners
Chuck Harwell Memorial Clay Shoot Winners
Morning Flight First Place Team: Ashley Atkins, Jeff Baxley, Perry White and Sam Coleman, Community Bank of Georgia
Morning Flight Second Place Team: Joel Thompson, Eclipse Brand Builders; Joe Dent, Joseph W. Dent, PC; and Jamie Knight, Colony Bank
Morning Flight Morning Flight Second Place Team: First Place Team: River City Bank: Brandon Bank of Wrightsville: Robert Harper, Michael Harrison, Chris Bennett , Russell Bennett, Tad Brownlee, and Scott Nanney Hodges and Cole Hodges
Afternoon Flight First Place Team: Joey Trice, Alex Jernigan, SHAZAM, Chip Davis, Family Bank & Dave Fain, First Port
Afternoon Flight Second Place Team: Cam Kirbo, Kirbo and Kirbo, PC, Landon Woodall, GEC, Inc., Jonathon Guthrie, The Peoples Bank & Michael Lott, Douglas National Bank
Afternoon Flight First Place Team: SHAZAM: Alex Jernigan, Joey Trice; Queensborough National Bank & Trust Company: Bill Easterlin, John Jackson
Afternoon Flight Second Place Team: First State Bank: Lee Clark Jerry Dowdy, Haynes Standard and Brian Whitaker
Fall 2 0 2 3 | G e or g i a C om m un i ti es F i rs t | 7
Quality assurance, tax, and advisory services are critical for financial institutions in today’s rapidly changing industry landscape. We currently provide professional services to hundreds of financial institution clients throughout the country, which translates into a first-hand understanding of the industry and its best practices.
GOING FURTHER .
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MJCPA.COM • 800.277.0040
ADVOCACY
Held in Shelman and Vidalia, the fall round of Town Hall Talks showcased CBA’s grassroots advocacy efforts. The Town Hall Talks offer the opportunity to speak directly with legislators in a Q & A session and hear their perspectives on legislative issues that may impact community banks. Led by CBA Chief of Staff and EVP of Gov and Reg Relations, Lori Godfrey, CBA has led the charge in getting the community banking message throughout the state through the six Town Hall Talks, held this fall and in early summer. Thank you to our sponsors and to all who participated.
Fall 2 0 2 3 | G e or g i a C om m un i ti es F i rs t | 9
ADVOCACY
$25 to Win $2,500
Grass Roots Advocacy - Join us in Raising Awareness and Funding for Advocacy Efforts.
We are selling raffle tickets at $25 towards a chance to win $2500. Ask a co-worker or friend to go in with you and increase your chances to win. Monies raised are used to support the hard work your association is doing to support the community banking industry by lobbying and educating legislators with information that will help make decisions for the best of our community banking stakeholders. Last day to purchase tickets is November 30th! Drawing to be held December 1, 2023. Purchase your tickets before 11:59 pm on Thursday, November 30th to be included in on the drawing.
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THANK YOU!
ADVOCACY
ADVOCACY FUND CONTRIBUTORS CBA was created in 1969 as a way to pool community bank resources for political representation and today, we remain the state’s only advocate working solely for the interests of community banks and your customers. At CBA, we must constantly build and renew relationships with legislators that understand and support community banking. Thank you to the following banks, companies and individuals for their generous contributions to CBA’s Advocacy Fund this year. Learn more on how you can support CBA’s advocacy efforts with an online contribution.
BANK/COMPANY DONATIONS
Altamaha Bank & Trust, Vidalia American Commerce Bank, Bremen Bank of Dawson, Dawson Builtwell Bank, Dalton Century Bank & Trust, Milledgeville Colony Bank, Fitzgerald Community Bank of Dublin - Laurens Co., Dublin Community Bank of Georgia, Baxley Craft Bank, Atlanta Durden Banking Co., Inc., Twin City Engaged Banker Experience LLC, Atlanta Exchange Bank, Milledgeville F&M Bank, Washington First National Bank of Coffee Co., Douglas First State Bank, Wrens Georgia Primary Bank, Atlanta Hyperion Bank, Atlanta King Computer Corporation, Norcross Lee & Mason Financial Services, Alpharetta Legacy State Bank, Loganville Newton Federal Bank, Covington Oconee State Bank, Watkinsville Peach State Bank & Trust, Gainesville Pineland Bank, Alma Planters First Bank, Cordele Safe Systems, Alpharetta The Citizens Bank of Swainsboro, Swainsboro The Commercial Bank, Crawford The Farmers Bank, Dublin The Peoples Bank, Willacoochee VSoft Corporation, Atlanta
INDIVIDUAL DONATIONS
Gary Johnson, Swainsboro
Soraya Kenney, Bremen
Chris Acker, Bremen
Dana Kirby, Swainsboro
Stephen Rushing, Swainsboro
Brian Kent, Swainsboro
Donna Barwick, Swainsboro
Colby Mascaro, Swainsboro
Brian Bazemore, Dublin
Michael McGahee, Camilla
Donna Bellamy, Swainsboro
Brian Nash, Swainsboro
Kasey Blackburn, Pelham
Caroline Nelson, Swainsboro
Brian Bowles, Swainsboro
Jackie Norton, Bremen
Nancy Brewer, Swainsboro
Kyle Ray, Dalton
Jeff Cannon, Swainsboro
Timothy Redding Jr., Swainsboro
Edward Claxton, Swainsboro
Jason Rooks, Albany
Chris Cochran, Atlanta
Benjamin Ross, Swainsboro
Guy Cochran, Swainsboro
Stephen Rushing, Swainsboro
Gay Dailey, Swainsboro
Mike Sale, Crawford
Jefferson Davis IV, Swainsboro
Brian Schmitt, Atlanta
Tasha Deese, Bremen
Hayley Scott, Bremen
Janine Dodds, Swainsboro
Sidney Shepherd, Swainsboro
Trudy Eller, Bremen
Gregory Sikes, Swainsboro
Zac Frye, Swainsboro
Bill Simmons, Swainsboro
Milton Gray Jr., Swainsboro
William, Simmons Jr., Swainsboro
Kristi Greer, Watkinsville Jordan Griffin, Bremen
William Smalley, Swainsboro
Jonathan Guthrie, Willacoochee Pam Hannah, Bremen
Matt Hatchett, Swainsboro Minton Hester, Swainsboro Gary Johnson, Swainsboro Jackson Johnson, Bremen
Mani Swarnam, Atlanta David Tate, Bremen
William Taylor III, Swainsboro Kelly Toler, Swainsboro
Jason Williams, Swainsboro
Matthew Wood, Swainsboro
Carneage Young, Swainsboro Fall 2 0 2 3 | G e or g i a C om m un i ti es F i rs t | 11
SPOTLIGHT
Moving
Forward
Together Insights From CBA’s Innovation Committee Co-Chairs
Meet Christian Ruppe, SVP, Chief Innovation Officer, Colony Bank, Atlanta, and Chris Stanley, SVP, Payments & Technology, Georgia Banking Company, Atlanta, co-chairs of CBA’s Innovation Committee.
Why did you decide to get involved with CBA’s Innovation Committee?
Stanley: The CBA is a great organization supporting Georgia’s community banks and the Innovation Committee is a way to further that mission by increasing awareness of current trends in financial technology, meeting innovative companies and actively engaging our technology community. These activities are core to my own role at Georgia Banking Company, so leading the Innovation Committee along with Christian Ruppe is the perfect way to aggregate these efforts for the good of all.
Why should a banker become involved with the committee?
Christian and Chris coordinate the meetings Stanley: Awareness is #1. The banking which include fintech demos, educational content, and roundtable peer discussions. world has changed considerably over The co-chairs are extremely passionate the last five years and the Innovation about helping CBA’s entire membership Committee is a place to learn but also move forward with their bank’s innovation meet a curated group of companies that initiatives. are focused on helping community banks innovate and grow. The Innovation Committee is made up of approximately 25 bankers and a few partner Ruppe: Surrounding oneself with likefirms, who are actively involved with the four fintech organizations – ATDC, Fintech minded peers increases learning and problem solving. It can be tough for banks Atlanta, Georgia Fintech Academy and TAG. to iterate on new ideas quickly due to Christian and Chris took time to sit down with being in such a highly regulated industry, CBA to share why innovation is so important so seeing what has worked and what has to the success of Georgia’s community not for other financial institutions is crucial banks, their vision for the committee and how when it comes to making the right choices bankers can get involved. in a timely manner. 1 2 | ww w. cbao fga.com | Fal l 2023
What is your vision for the committee? Or what are a few goals of the committee?
Stanley: A rising tide lifts all boats – is the phrase that comes to mind. Innovation is the lifeblood of a growing economy, and our community bankers need to keep pace yes, but also be the anchor in their community fostering this growth and innovation.
SPOTLIGHT
Any recommendations for a bank just starting the innovation journey?
Ruppe: Start with the end in mind. Innovation for innovation’s sake will get you nowhere but if you know where you are trying to get down the road, using innovative ideas and fintech companies may get you there more effectively. Don’t sign a deal with the first cool fintech you find because your bank decided it was going to be innovative now, find a partner that fits perfectly in the road map you built for the bank.
Thoughts on the future of innovation in the community banking industry and how to plug in.
Ruppe: The exciting thing about innovation is that it can look different in every organization. The community banks in Georgia do not need to spend millions of dollars trying to keep pace with the Too-Big-To-Fails. Instead, our banks can learn from this committee how to identify innovative opportunities that serve the communities they know best.
Banks are often presented with so many fintech options…where should a banker start when considering adding innovation?
Stanley: Anywhere. Inertia is often the greatest obstacle in an organization and with the abundance of vendor/partner solutions in the market there are many low-risk, costeffective ways to put a toe in the water without disrupting the entire organization. Ruppe: The easiest way to dip into innovation is to take a different approach to a problem you are currently working on. All the challenges of working with a more innovative company are much easier when the bank has already decided the problem is worth solving. The next time you are looking at renewing or switching vendors, ask around and find a couple more innovative options to consider in addition to the incumbents.
Stanley: Innovation is not a new, it just takes different forms and comes at different times for various market segments. It came for horses a hundred years ago, travel agents in the early days of the internet, then taxis and now it’s here for financial institutions and companies. Innovation in payments technologies has grown significantly in recent years and the pace of consumer (and business) adoption greatly accelerated during the pandemic, so now is the time to be proactive and embrace new ways of doing business to reduce costs and drive revenue growth. Getting involved with community organizations is a great place to start and we would love to see more bankers on the Innovation Committee. Fall 2 0 2 3 | G e or g i a C om m un i ti es F i rs t | 13
SPOTLIGHT
Get Involved
Four Fintech Organizations You Need to Explore
Looking to grow your innovation knowledge and your network? Take a to explore the four fintech organizations right here in Georgia. Each organization offers numerous ways to participate. Members of CBA’s Innovation Committee are actively engaged in these organizations and provide updates at the committee meetings.
Advanced Technology Development Center – ATDC
The Advanced Technology Development Center (ATDC) is a startup incubator that helps technology entrepreneurs in Georgia launch and build successful companies. Founded in 1980, ATDC has helped create millions of dollars in tax revenues by graduating more than 130 companies, which together have raised over a billion dollars in outside financing. Robert “Red” Daniel FinTech Catalyst, Advanced Technology Development Center Georgia Institute of Technology robert.daniel@atdc.org
FinTech Atlanta
FinTech Atlanta is a coalition of companies working to advance Atlanta as the recognized global capital of financial technology. Led by seasoned industry executives, the group’s priorities are to drive fintech industry growth, talent expansion, innovation acceleration, and public policy influence in Atlanta and across the state of Georgia. Hillery Champagne Director, FinTech Atlanta hchampagne@ fintechatlanta.org 404-664-7373 www.fintechatlanta.org
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SPOTLIGHT
Georgia Fintech Academy
Technology Association of Georgia The Georgia Fintech Academy is a diversity talent development initiative for the fintech industry. Students (TAG) from across the University System of Georgia participate in classes, events, and projects to prepare for jobs in the fintech industry. Laura Gibson-Lamothe Executive Director Georgia Fintech Academy llamothe@gsu.edu | 301.606.5016 www.georgiafintechacademy.org
The Technology Association of Georgia (TAG) supports its members by generating opportunities for personal, professional, and business growth. By forging these strategic alliances, TAG acts as a primary catalyst to foster a rich growth environment for technology development in Georgia. Heather Maxfield Executive Director, TAG – Ed heather@tagonline.org 404.920.2022 www.tagonline.org
We gather the best minds in banking collaborate on CRA strategy and best pra
The
brought to you by The CRA Collaborative peer group is the perfect place to build relationships with others in your field and strengthen your skills together. Get and give feedback, gain new insights, and forge meaningful connections among peers.
To join, please visit theCRAcollaborative.com
Fall 2 0 2 3 | G e or g i a C om m un i ti es F i rs t | 15
SPOTLIGHT
Have you ever wanted to discuss your bank’s innovation journey with a banker who has already been down that road? What about roundtable discussions with community banking peers on challenges, successes, goals, products and more? Join CBA for Tech Talk, December 5 and 6, 2023 at ICBA Accelerator Offices in midtown Atlanta. The program will include several roundtable discussions hosted by experienced fintech bankers leading discussions on topics supplied by attendees.
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Where to stay - Hotels with ICBA negotiated rates:
SPOTLIGHT
Atlanta Marriott Suites Midtown 35 14th Street NE, Atlanta GA 30309 • ICBA Rate is $209 per night based on availability. • Reservations can be made online using the corporate booking code B7064 or by calling the hotel directly at 404-876-8888 and mentioning the Independent Community Bankers of America • Under Special Rates choose Corp/ Promo Code and enter B7064 Hyatt Centric Midtown Atlanta 125 10th Street NE, Atlanta, Georgia 30309 • ICBA Rate which is 15% off their Best Available Rates • Reservations can be made online using ICBA’s personal booking link. • Under Special Rates make sure Corp/Group Code CR190017 is populated Loews Atlanta Hotel 1065 Peachtree Street NE, Atlanta GA 30309 • ICBA Rate which is 10% off their Best Available Rates • Reservations can be made online using ICBA’s personal booking link.
Fall 2 0 2 3 | G e or g i a C om m un i ti es F i rs t | 17
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SPOTLIGHT
INNOVATION STATION The great digital strategy reset Digital first. How many times have community banks heard that refrain over the past few years? It’s been a repetitive beat in an ongoing banking evolution, and with it comes ever-increasing pressures on the technology stack.
In today’s landscape, we’re facing a need to balance budgetary requirements with rapidly advancing technological demands. It can make the next right strategic steps uncertain for your community bank. Where do you draw the line on investment versus revenue? To answer that question, start by evaluating where your community bank is now. Identify your strengths and where pitfalls may lie. In today’s environment in particular, ask yourself:
1. Where are the gaps with my current customers? Start with good data analytics to gain a line of sight into customer behaviors. Companies like ThinkTECH alum and data analytics provider KlariVis can help establish what’s going on in your bank and with your customers to help prioritize next steps.
2. What am I doing to evaluate my deposit strategy in this deposit-gathering market? Did your gap analysis reveal deposit leakage? If so, how can you address it? You can apply that knowledge to your current base as well as new targets. Solutions from companies like ThinkTECH cohort participant Micronotes can help you execute on loan, deposit and retention opportunities using data. 3. Do I have the right tools in place to protect my bank? With the emphasis on digital solutions, are you also ensuring you have adequate safeguards? Put solutions in place that support risk mitigation around digital development. ThinkTECH participants like Fraud.net can help with proactive fraud mitigation.
While these questions just scratch the surface of digital considerations for community banks, they offer a framework to begin evaluating what matters most to your institution. Given all you have experienced this year, and no matter where you are on your digital journey, it’s totally appropriate to reevaluate your strategies and refine them for the next phase of digital evolution. The solutions ICBA has curated through the ThinkTECH program have been chosen with that in mind. Our goal is to serve as your trusted advisor throughout your digital transformation. So, as you look toward 2024, reach out to us to work through these and other key questions. We want to ensure you have the right partners in place to lead your march toward the future of banking. Charles Potts is ICBA’s executive vice president and chief innovation officer.
Is your community bank innovative? Meet Charles. Charles keeps ICBA members informed about emerging solutions that help solve specific community bank challenges. He listens to bankers concerns and plans programs that help get to the core of what our members need most. Even when he’s biking through the streets of Atlanta, he’s thinking about how we can help community bankers level up their fintech game. As an ICBA member, you’ve got Charles in your corner.
Learn more at icba.org/innovation
Fall 2 0 2 3 | G e or g i a C om m un i ti es F i rs t | 19
SPOTLIGHT
Georgia Fintech Academy
and Queensborough National Bank
For the second year in a row, students in the Masters Level Finance Class in the J. Mack Robinson College of Business at Georgia State University, Atlanta, completed the Financial Data Analytics course strong with a Big-Data Project sponsored by Queensborough National Bank & Trust, Louisville.
special connections with our industry partners. Our students excel and soar because of your continued support!” “The completion of this year’s cohort brings me such joy,” stated Kim Kirk, EVP/Chief Operations Officer at Queensborough National Bank & Trust, and a member of CBA’s Innovation Committee. “Great work by Lars Frey and Mark McGrillen, Queensborough’s Business Intelligence Team, to provide real world data and experience to Dr. Rasha Ashraf‘s grad finance class. Working with the students in the Georgia Fintech Academy over the past two years has been a great experience for us! Thank you for your partnership.”
Dr. Rasha Ashraf, Clinical Associate Professor and Faculty Director - MS Finance Program at Georgia State commented, “It was incredible to see students accomplishing so much within just eight weeks of time. They mastered complex modeling concepts, worked on the challenging problem using the Big-Data and ML techniques, and finally presented their innovative solutions to the Queensborough National Bank & Trust’s management team. Congrats to all the students who worked so hard to achieve this and for impressing our industry partner and sponsor – Queensborough National Bank & Trust (QNBT)!”
The first program underwritten by Queensborough National Bank & Trust was on the topic “How do you predict when a customer is going to close their account.” This year’s program focused on machine learning models.
Project Team: Kim Kirk EVP/Chief Operations Officer Queensborough National Bank & Trust Louisville
“We are truly grateful for QNBT’s partnership and support for our students,” Dr. Ashraf continued. “Students’ immersive experience is only possible when real-life problems can be part of the classroom experience and QNBT is the champion in creating that platform for us. Special thanks to Queensborough’s Lars Frey, Director of Business Intelligence and Mark McGrillen, Business Intelligence Consultant, for your incredible support, mentorship, and dedication to our students. We are truly grateful! Many thanks to Kim Kirk for your continued support for the rich collaboration. Special thanks also to Georgia Fintech Academy for helping us build these 2 0 | ww w. cbao fga.com | Fal l 2023
Rasha Ashraf Clinical Associate Professor and Faculty Director - MS Finance Program J. Mack Robinson College of Business, Georgia State University Lars Frey Director of Business Intelligence Queensborough National Bank & Trust Louisville Mark McGrillen Business Intelligence Consultant Queensborough National Bank & Trust Louisville
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SPOTLIGHT
BROTHERS SERVING OTHERS Neil & Mark Stevens Share insights on serving as CBA chair For the first time in CBA’s history, two brothers have served as Chair of Community Bankers Association of Georgia. Neil Stevens, President & CEO, Oconee State Bank, Watkinsville, is serving as the current chair for the 2023-2024 year and his brother, Mark Stevens, Regional President, SouthState Bank, Macon, served as chair for the 2011-2012 year. Once before, a father and son both served as chair, but never brothers. Neil and Mark were kind enough to sit down with CBA and share the banking climate during each term, how they got into banking and what is it that has made them step up to serve their fellow community bankers in Georgia.
What was the community banking/economic climate like when you served?
Neil: Many headwinds. We are facing major consolidation in the industry, rapidly changing digital technology advancements and companies that are not banks competing for the wallet share of businesses and consumers. We are facing an impending recession. Banks have to work diligently to manage funding costs and liquidity. However, I have never experienced a year when there have been no headwinds. The best banks figure out how to turn headwinds into tailwinds, and I know CBA can be part of helping banks in Georgia face these headwinds and effectively manage them. Mark: The banking climate was challenging. The industry was struggling to exit the Great Recession with many banks still under an enforcement action. Numerous displaced bankers, due to the crisis, and the industry was quickly evolving to fewer banks both in Georgia and nationwide. The surviving banks were dealing with loss share and working out of problem real estate loans. Banks were being closely monitored by the regulators, with a major emphasis on adequate capital, liquidity, and conservative loan underwriting.
Share some of the biggest challenges during your time as chair:
Neil: Much of what I mentioned regarding the banking climate today. But – specific to the association, it’s the challenge of thinking differently than we ever have in the past. We must consider how to collaborate with other organizations to maintain our independence, while gaining economies of scale. Banks are consolidating and will continue to consolidate. We must be thought leaders so we can continue to emerge as a premier banking association. Mark: With great leadership and support from then CEO Carolyn Brown and the CBA staff, my term was focused on how the board could improve the Association and further support our member banks. Thankfully there were no difficult issues other than pending legislation unfavorable to community banks arising from the Great Recession. 2 2 | ww w. cbao fga.com | Fal l 2023
What would you say are some of the biggest opportunities during your time as chair:
Neil: The opportunity to partner with the CBA leadership team and the banks in Georgia to enhance leadership for all of our banks – which is my passion. Everything rises and falls on leadership. In addition, there is a great opportunity to partner with other associations in other states, as it relates to things like education, etc. Mark: Traveling the state representing CBA, making new friends, and building new relationships. Truly enjoyed participating in the fly-ins to Washington to meet with Georgia’s political representatives and lobby for sound banking legislation.
How did you both happen to go into banking?
Neil: Mark is the reason I chose banking as a career. He is 15 years older and I have always looked up to him as a role model. We had a GREAT father who raised us well. I view Mark somewhat like a father and certainly a mentor. This has a lot to do with the difference in age. Mark was a very successful banker when I was in college. I was impressed with what he was doing in his career, and I decided to follow in his footsteps. He suggested that I try out the industry, and I did, not knowing I would make a career of it. Here I am 34 years later and loving every minute of it. I owe a lot to Mark for being a role model and encouraging me to consider banking as a career. Mark: I was a married college student to my wife Deborah and needed a job. She started her student teaching, and I was looking for employment. My late father-in-law introduced me to R.C. (Neal) Ham who was a founding father of CBA (Independent Community Bankers Association of Georgia at the time) and served as its second chairman from 19711973. Mr. Ham was the president of Central Bank of Georgia, ultimately becoming First Union. He was a true mentor and under his leadership I learned to love banking. I never envisioned at the time that I would someday serve as Chair of CBA 38 years later.
SPOTLIGHT It says a lot about you both that you stepped up to lead the association. Was volunteering something you were both encouraged to do growing up or was it part of community bank culture – giving back to the community?
Did you have any of the same interests in sports or activities?
Neil: We both love baseball. Mark has more talent than I ever had! He played at the college level. We both have a deep love and respect for UGA football. When we went to Mercer, they did not have a football team. While I pull for the Mercer Bears…nothing compares to football in the Southeastern Conference. Mark took me to my first Georgia game when I was around 10 years old, and I have been hooked ever since. Mark took me to my first Georgia vs. Florida game in Jacksonville when Herschel Walker played. I vividly remember that experience. I go to EVERY UGA home game….and a great deal of away games. Mark and his family join us for a game or two each season.
Neil: I love giving back. Our parents taught us to do our best to leave what we start better than how we found it. I have had so many great mentors and leaders in my life, Mark being one of those, but the foundation came from our parents – James and Elise Stevens. There is another role model in my life who has the largest servant’s heart of anyone I have ever known. Her name is Tricia Stevens. She is the love of my life and my high school sweetheart. Mark and Deb introduced us!! They were Tricia’s Sunday school teachers. Tricia has taught me how to serve selflessly and she models that every day. So, when asked to serve, it was an easy decision. I am proud to have the opportunity to serve our fellow bankers in Georgia. Mark: Being a young banker, Mr. Ham volunteered me to be a Loaned Executive for the United Way of Central Georgia. He also encouraged me to join the Macon Exchange Club, which led me to serve on many charitable boards throughout my career. While Mr. Ham initially introduced me to the CBA, it was under Julian Hester’s leadership that propelled me further to get involved. Julian Hester asked me to teach in the CBA Consumer Lending school, which I continued doing for several years. From there, I was invited to join the board, which led me to serve as Chair.
Mark: I played baseball at Mercer University, so I naturally lean toward baseball, but Neil and I both love UGA football and our families have attended many games together. When I was working under Mr. Ham, as a very young banker, the bank had season tickets to the UGA football games. I would sometimes invite Neil to the games, along with some other bankers, when Neil was as young as 10 years old. I was in the 10th grade when Neil was born so there is a 15-year difference in our ages. We still, to this day, attend UGA games together. Our late father was a retired Captain on the Macon Fire department so we both have a love for public service, especially firefighters.
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SPOTLIGHT Share a memorable moment during your term Mark? Mark: Leading the annual convention and participating in all the activities, along with my wife Deborah of 50 years, as she helped plan the location for the annual meeting and kept me focused on my work as Chairman.
Memorable moment or something you are looking forward to during your term Neil?
Neil: I just hope to look back and feel that I made a difference in the lives of the bankers in Georgia. Mark has had a welldecorated career and has been highly successful. He has made a major impact on the banking industry. If I can make half the impact he has made, I will consider that a huge success and that will be something very memorable.
Mark – did you have any advice for Neil when he accepted position as CBA Chair?
Mark: Neil has developed into a strong leader, so he needed limited advice. I have always encouraged Neil to always do the right thing and don’t pursue it if it doesn’t feel right in the heart, although it may be perfectly legal. Neil has always done just that. It has been a delight to watch Neil’s leadership skills develop and to follow his banking career.
Fun fact or memory you want to share about each other?
Neil: I don’t know why this sticks out. When I was a very young boy, Mark took me to a Jonathan Edwards concert at Mercer. The concert was a very small group of people. For those who are not familiar with Jonathan Edwards, I am obviously not referring to the preacher from the 1700s. The Jonathan
Edwards I am referring to is an American country and folk singer who is best known for his 1971 hit single “Sunshine.” It goes… .”Sunshine go away today; I don’t feel much like dancin’.” For some reason that song smote me when I was a young boy and I got to hear Jonathan Edwards sing it live thanks to Mark! I still love that song today! "Sunshine" is a song that embodies a laid-back, optimistic attitude, encouraging listeners to embrace life's positive aspects and find happiness in simple pleasures. It captures a sense of carefree enjoyment and the desire to hold on to moments of joy and sunshine in one's life. I LOVE music and LOVE to know the meaning behind songs. Mark: When Neil was probably 12, we were riding bikes and going down a very steep hill when Neil lost control of his bike and crashed headfirst on the payment. Thank goodness he was not seriously hurt. We both recall that day and now laugh at what happened and what could have happened. My memory of Neil growing up was one of fun and excitement and discipline. He remains today one of the most upbeat positive and disciplined people I know. Education is a priority for the Stevens brothers. Both are graduates of Mercer University, with Mark holding a B.S. in Economics. He is also a graduate of the LSU School of Banking and University of Oklahoma School of Commercial Lending. Neil holds a B.S. in Finance and Communications and is a graduate of the University of Virginia Darden School Executive Banking Program. Mark plans to retire from banking at the end of this year. According to Mark, “It’s been a great and rewarding 48-year career. I am blessed to have shared those years with Neil and his family. Deborah and I love spending time at the beach with our family and most especially with our two grandchildren.” Congratulations on your retirement Mark!
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PROFESSIONAL DEVELOPMENT
Education Buzz: Thought Leadership.
Are you a thought leader? How can your example further grow your bank, team, and community? Are you the go-to expert in your community? Do you offer advice that brings value to small businesses and consumers to support financial wellbeing? Does your leadership influence inspire others? Thought leadership requires commitment to ongoing learning that produces results. First, know your area of expertise. Next make a choice to enhance your experience and knowledge of the subject in the direction to authentically be a resource to others. Enhance leadership qualities including interpersonal & communication skills, awareness of industry trends, creativity, analytical and critical thinking abilities to influence your team to innovate.
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PROFESSIONAL DEVELOPMENT
2023 Programs
Don’t miss the end of the year roundtable education opportunity to hear the most up to date information that keeps your bank in compliance with Bank Secrecy Act.
3rd Party Risk Management & Environmental Social Governance December 12 or 13
Choose In-person (Macon or Tifton) or Virtual learning option on these regulatory and compliance hot topics so that your bank has policy and strategies in place.
Do you have safe deposit box policy & procedures? Rental agreements? Review your operating processes with your bank peers around the state. Are they up to date?
Fall 2 0 2 3 | G e or g i a C om m un i ti es F i rs t | 27
PROFESSIONAL DEVELOPMENT
Have you ever wanted to discuss your bank’s innovation journey with a banker who has already been down that road? What about roundtable discussions with community banking peers on challenges, successes, goals, products and more? Join CBA for Tech Talk, December 5 and 6, 2023 at ICBA Accelerator Offices in midtown Atlanta. The program will include several roundtable discussions hosted by experienced fintech bankers leading discussions on topics supplied by attendees.
Day I Topics: The Role of FinCEN BSA 101 The Tools of BSA Money Laundering Methods in Today’s Environment Review of the BSA Building Blocks and 5 Pillars CIP, CDD, and EDD Bank Secrecy Act: Legal Update & Enforcement Trends
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Day II Topics: BSA Compliance Management Program Risk Assessments and Risk Rating of Customers BSA Reporting and Record Keeping Currency Transaction Reporting (CTR) & Suspicious Activity Reporting (SAR) Monetary Instrument Logs (MIL) Wire Transfers High-Risk Products and Services Case Studies Everything you wanted to ask a Banker and Auditor about BSA Tools Available for Today’s BSA Team
Day III Topics: Suspicious Activity Report – From Decision Making to Writing the SAR BSA and OFAC Training Office of Foreign Asset Control (OFAC) Compliance Record Retention Action Planning
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PROFESSIONAL DEVELOPMENT
“Best one yet!” Participate alongside leadership bankers who are striving to improve their personal and professional knowledge to support the community banking industry. December 12 in Macon. Facilitator: Lisa Berry, Warren Averett
Added by request. This live virtual program will benefit front line and back-office staff in identifying and resolving peer-to-peer unauthorized transactions. It will benefit branch managers, CSRs, operations management, compliance and audit staff. It is an intermediate level program
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PROFESSIONAL DEVELOPMENT
Plan your year with CBA! We’ve made it easy to plan your 2024 budget with our list of programs and events. Click here or see below for events by quarter or by functional category.
2024 Professional Development Programs & Events 2024 EVENTS IN PLANNING:
QUARTER ONE 1/12 1/24 1/25 1/30 1/31-2/1 2/6, 2/7 2/7 2/8 2/13-14 2/21 2/22 3/1 3/5-6 3/7 3/12-13
Banker Regulatory Forums Cyber Risk Summit LEAD Retreat Clay Shoots • TopGolf • Town Hall Talks
Train the Trainer IRA Fundamentals IRAs: Advanced Mortgage Lending: Start to Finish TRID Basics Q1 Compliance - GA Deposit Doc Building a Culture of Performance Essentials of Banking - Part 1 Credit Analysis Series - Part 1 Safe Deposit Box Operations BSA Regulator Panel & Forum HR RAP session Community Banking Leadership Academy - Session 1 Essentials of Banking - Part 2 Credit Analysis Series - Part 2
QUARTER TWO 4/9-11 4/11 4/30-5/1 5/6-8 5/14 5/15, 5/16 5/16 6/6-8 6/11,12
QUARTER THREE 7/19 8/13-14 8/19-23 9/17 9/17-19 9/18 9/25, 9/26
HR RAP session Community Banking Leadership Academy - Session 3 Advanced BSA School Branch Leadership 1 Commercial Lending Bootcamp
Branch Leadership 2 Q3 Compliance - Change Management: A CMS Critical Component & Risk Deep Dive 3 2 | ww w. cbao fga.comAssessment: | Fal l 2023
BSA Fundamentals Essentials of Banking - Part 3 Community Banking Leadership Academy - Session 2 HR/TD Conference Advanced TRID Q2 Compliance: Privacy, Security, and Fraud: How to Protect Your Customer Essentials of Banking - Part 4 CONNECT 2024 - CBA’s Annual Convention & Mini-Trade Show CRA Workshop
QUARTER FOUR 10/1-2 10/1-4 10/18 10/22 10/23 12/5 12/6
Community Banking Leadership Academy - Session 4 Consumer/Retail Lending HR RAP session Branch Leadership 3 Branch Leadership 4 BSA Regulator Panel & Forum HR RAP session
12/10, 12/11 Q4 Compliance: Fair Lending: Detect, Monitor and Exam
PROFESSIONAL DEVELOPMENT
ICBA Affiliate Education Program
Collaborating with ICBA gives our members even more choices to support the learning and development goals of the financial institution. We are here to help you find the best training to fit your needs. Call us and we will help make a connection. Check out Community Banker University Powered by ICBA. When selecting to register for a Community Banker University Powered by ICBA program, please use our state association code. Using the code will alert ICBA to give back to Georgia through our alliance in supporting the community banking industry. State Association Code: GA-CBA The new Affiliate Education Program will ensure that collectively, we put community banks in contact with the training tools necessary to grow bankers’ knowledge and skills. Let’s all win by increasing knowledge, improving efficiency, and investing in our employees while working together to uplift the industry we love— COMMUNITY BANKING!
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PROFESSIONAL DEVELOPMENT
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PROFESSIONAL DEVELOPMENT Community Bankers gathered for CBA’s annual Cyber Risk conference on Jekyll Island in August to increase knowledge, network and walk away with a variety of tools to support their bank’s cyber security programs. “CBA continues to provide innovative concepts to the ever-changing Information Technology landscape of Community Banking. In my opinion, the Cyber Risk Conference brings together a broad spectrum of ideas and knowledge in one location.” J. Carneage Young, SVP, Information Technology, The Citizens Bank of Swainsboro and “It was an amazing experience.” Andrew Lynn (ISO), Glennville Bank We would like to thank our speakers, sponsors and exhibitors for their support of this great program!
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PROFESSIONAL DEVELOPMENT WOW! It is great to serve over 90 participants at this year’s, 16th annual, Advanced BSA/ AML Officer School. The community banking industry has passionate, knowledgeable BSA professionals who learn and strive to have the best policy and procedures to support the pillars of this regulation. “This was the best program I have ever attended.” Told by an anonymous first time attendee. The programming started on Monday afternoon with a Department of Banking update from Melissa Sneed and wrapped up with teaching us what human trafficking looks like, presentation with Mark Fellows, GA Bureau of Human Services. Subject matter experts from each of the regulatory agencies shared updates as Dianne Barton, Founder/President of PSI facilitated knowledge sharing and gathering through-out the school. We are already gearing up for the 2024 school. More details and save the date coming soon.
Register Now for the 57th Annual Southeastern Conference of Community Bankers! January 17-20, 2024 | Key West, FL
Fall 2 0 2 3 | G e or g i a C om m un i ti es F i rs t | 37
MEMBER SERVICES
Time out for trivia
Jim Reber
Q’s and A’s to enlighten portfolio management
If you’re a sports fan (and I know you are), and you’re also of a vintage that has recall back several decades, you may have heard of Todd Donaho. Donaho was the self-proclaimed “commissioner of sports trivia” as the host of Time Out for Trivia, a popular live call-in show that ran on the USA Network on weekday evenings from 1985 to 1990. The Commish would fire off questions in rapid-fire succession to phone-in contestants, who hoped to win prizes ranging from grills to telephones. Players would compete at their own risk, as Donaho would often invite “boneheads” who guessed incorrectly to “take a hike.” Nonetheless it was a winning formula, and by cable TV standards TOFT had high ratings. What does this have to do with community banking? Hang with me as I pose a series of my own questions relating to community banks, which I hope you will view as more helpful than trivial. Even better: Your author supplies the answers, so there’s no risk of nationally-broadcast humiliation. As Donaho himself would exhort, “Who’s playing Time Out for Trivia?” Question: If you buy a callable bond, are you long or short a call option? Answer: You are short. Mechanically, you have simultaneously bought a bond and sold an option. The issuer has done the opposite and owns the right to take the bond away from you at designated dates in the future. Most callables have periodic call features (e.g., quarterly) but some are callable one time only. The aggregate value of the series of options translates into the additional yield over and above a non-callable “bullet.” Question: Why is Average Life always longer than Effective Duration for a given bond? Answer: Average Life is the weighted average period of time to receive your principal, whereas Effective Duration is the weighted average period of time to receive principal and interest. Average Life is more relevant for amortizing securities such as mortgage-backed securities (MBS). Since interest is received periodically (as well as early and late) in the life of a bond, the weighted average time period is less than for principal alone. Average Life is more useful for calculating portfolio cash flows and liquidity; Effective Duration is a standard for measuring price volatility. Question: If you sell the guaranteed portion of an SBA 7(a) loan, what are the total proceeds? Answer: There are two sources, and a third element that bears mentioning. First, the proceeds include the principal plus the premium paid by the buyer. If the guaranteed portion is $250,000 and the bid is 108.00 (which isn’t unusual), the total is $270,000 of which $20,000 is gain, and booked on sale date (not settlement date). Additionally, SBA mandates that the seller retains 1% of the interest flow from future payments as servicing income. Finally, the entire amount of the unguaranteed portion, principal and interest, is retained by the original lender. 3 8 | ww w. cbao fga.com | Fal l 2023
President & CEO ICBA Securities
Question: Why does the inflation gauge consumer price index (CPI) usually come in higher than the Fed’s preferred measuring stick personal consumption expenditures (PCE)? Answer: It’s a two-pronged answer. First, the basket of goods for both indices (which is very deep—more than 80,000 items) changes over time as new products enter the market, some disappear, and others’ popularity rise and fall. PCE is quicker to adjust the basket to reflect what you and I actually consume. Which brings us to the second prong: Informed consumers will prefer cheaper goods to more expensive ones, given suitable substitutes. Since PCE mirrors more quickly what our new basket of goods actually holds, it tends to be several tenths of a percent lower than CPI. Question: Why do straight pass-through MBS use the prepayment model conditional prepayment rate (CPR), while their first cousin, collateralized mortgage obligations (CMO) use the model known the Public Securities Administration (PSA), when estimating how a given security will perform? Answer: At one point in the distant past, examiners decided that PSA was more accurate in predicting how a cohort of mortgages would prepay, so that became the standard. PSA is in fact derived from CPR and is an attempt at refining prepayment estimates based on the age of mortgages in a pool. These standards (set in the 1980s at the dawning of the mortgage derivative market) have been relaxed, even though CPR/PSA information is still calculated and available for all manner of mortgage securities. Best practices can still call for documenting and modeling how a pool would perform using both methodologies. So there you have our trip down cable TV lane, compliments of the venerable USA Network. As the commissioner of sports trivia himself would sign off, “Feeling tremendous, I might add.” And if you’re so inclined, you can view some classic episodes of TOFT on YouTube. *
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Jim Reber (jreber@icbasecurities.com) is president and CEO of ICBA Securities, ICBA’s institutional, fixed-income broker-dealer for community banks.
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Cybersecurity Planning vs. Cybersecurity Compliance: What’s the Difference? Both cybersecurity planning and cybersecurity compliance are critical aspects of an organization’s information security posture and should work together to create a comprehensive security framework. Neither of these activities is a one-time effort but an ongoing process that must be monitored and managed.
A great cybersecurity plan has three primary fundamental concepts: • Confidentiality – Keeping information secure • Integrity – Ensuring data is accurate and unaltered • Availability – Being able to access data when needed and at the appropriate level of need
While cybersecurity planning and cybersecurity compliance are two interconnected concepts, they also have important differences that companies should know in order to have a strong security posture and meet any needed compliance requirements. Cybersecurity Planning vs. Cybersecurity Compliance: Objectives Proactive cybersecurity planning refers to safeguarding your financial institution’s IT assets (including systems and data) from damage or theft from cyberthreats. Cybersecurity compliance refers to understanding and adhering to applicable laws, regulations, policies and industry standards that apply to your organization. These may include laws related to data privacy, consumer protections and more. Cybersecurity compliance aims to minimize legal, financial, reputational and operational risk by following relevant regulations, whereas cybersecurity planning seeks to strengthen a company’s entire security posture to protect against attacks. While both ultimately seek to limit threats and protect companies and consumers against data loss, proactive cybersecurity planning considers your company’s larger IT scope and footprint, while cybersecurity compliance is more limited in scope and reactive in nature to conform to alreadyset guidelines.
Cybersecurity compliance involves ensuring that the organization operates in accordance with legal and regulatory requirements, as well as internal policies and guidelines, and encompasses ethical and professional standards. Because many cybersecurity compliance measures are designed to enhance a company’s security posture, there is some overlap between common compliance activities and common cybersecurity planning activities. For example, providing cybersecurity training to employees may be mandatory in your organization, but it also may be part of the proactive plan you’ve elected. Cybersecurity Planning vs. Cybersecurity Compliance: Approach Cybersecurity planning is a proactive, layered approach that involves implementing preventive measures, security controls and continuous monitoring to detect and respond to potential threats and vulnerabilities.
Cybersecurity Planning vs. Cybersecurity Compliance: Activities Proactive cybersecurity planning is all about protecting systems and data by strengthening network security, endpoint protection, application security, data encryption, incident response, security awareness training and more. It involves implementing security technologies, conducting risk assessments, security audits and creating incident response plans to address security incidents effectively.
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Compliance is more of a reactive approach that involves ensuring that an organization’s policies, procedures and operations align with internal or external required regulations and standards.
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Cybersecurity Planning vs. Cybersecurity Compliance: Purpose Because tactics (phishing emails, malware, social engineering, etc.) and the threat landscape for cybersecurity is constantly evolving, it’s crucial to stay ahead of potential risk. A great cybersecurity plan positions you for success because its key purpose is to proactively address these obstacles. On the other hand, the key purpose of cybersecurity compliance is to avoid punitive consequences. Non-compliance can have serious ramifications for organizations, ranging from legal penalties and fines to reputational damage and loss of business. In some cases, individuals within the organization may also face personal liability.
Moving Forward With Cybersecurity Planning and Cybersecurity Compliance Risk assessments help identify potential vulnerabilities, assess the impact of threats, determine the likelihood of attacks and help prioritize security measures to further tighten your cybersecurity posture.
Emily Jones Principal Practice Leader Warren Averett Technology Group
Lisa Berry Principal Senior Banking Consultant
It’s always advisable to consult IT professionals in these areas for detailed guidance that’s tailored to your specific situation. Connect with a Warren Averett Technology Group advisor to start the conversation today.
WHAT CAN VERICAST DO FOR YOU? Vericast is your data-into-dollars, rocket-ship-launching, reach-expanding, bottom-line-building marketing amplification partner. Let us show you how our data, insights and expertise can take your marketing to new heights and deliver a different kind of ROI — a return on intelligence. VERICAST.COM/AMPLIFICATION © 2023 Vericast All rights reserved. CS1855
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2024 Advertising Overview Raise your brand awareness and reach top decision makers in Georgia’s banks Reserve Yourcommunity Ad Space Today!
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If you want to target top decision makers in Georgia’s community banking industry, you will find the CBA offers numerous ways to help you accomplish your goals and stretch your marketing dollars. Show your support for CBA and promote your business at the same time. 202 4 541-0376. If you have questions, please contact Lindsay Greene at lindsay@cbaofga.com or (770) Adve Each year, CBA hosts approximately 60 professional development r tising
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iew Reserv e You events, training programs, forums, and networking events. These r Ad S pace Toda y! opportunities bring together professionals and decisionGeorgia Communities Firstindustry Magazine CBA Today eNewsletter Advertising makers from Georgia community banks of all sizes. v
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ewsle profes ine also national lev both Publis tter Ad hed we legisla sional develfeatures up el. The has a vertisin ekly, g on CBtive efforts opment procoming 5,000 distributi CBA Today on publis A membersas well as grams, includ . This digital of ove hed dig r es featur . All issue upcom inform newslette itally. issues es rec r ing ati On eiv on associ digital are educat es a averag on ation LEAD impressionsminimum of e, each events associ ional op rep ate , po and rea 2,000 rtunit res memb officer as sta ies che ers te s, and entatives, or a link regula s CEOs, news. and nation , as we , All ads ll tor y wil of you the UR Ads will link al industry r choicel link direct agency Ass L of you dir ly to you oci . CBA Me r choiceectly to r com ate Members mbers . pany's Back websi . Inside Cover te 1 Mo 1x Memb Inside Front Cover 3 Mo nth 2x $125 $500 ers Prospe 0 $1 3x Full Pa Back Cover 6 Mo nths $115 $100 nths 4x $700 ctive Memb 0 $1 225 $120 Half Page 0 12 $1 0 $1 125 Month ers 050 $200 ge $125 175 0 s $102 $1100 0 $850 $350 5 $107 $226 Prosp 0 5 $825 $1000 0 $650 CBA Ho $975 $375 Inside ective Me $625 $800 0 me Pa $775 $600 ge Ad Full Pa Back Covermbers 1x CBA’s $575 vertisin websi Half Page 2x $1 com te, 25 g ge 0 $1 www.c , 3x $950 bao 225 inform is the 4x source fga. ation $925 $1200 $750 pro on edu $117 gra of 5 $725 $900 article ms, events cational $875 $700 Ad, Pa convens, legislative, industry $675 ymen much tion inform updates, t & Pu Issue availab more. Ad ation and blicatio Quart and canle on a mo space is n Date Mater er nthly ials De link s page Quart 1 adline Januar or the to your basis er 2 you y ho 15, 20 me Public r choice destin Quart April 24 ation ati er . 15, of Februa on Deadline Quart 3 July 15 2024 er 4 ry , May 15 15, 2024 1 Mo Octob 2024 , Memb er 15 Augus 2024 3 Mo nth , 2024 $500 ers t 15, Prospe 2024 6 Mo nths Novem $100 $700 ctive Memb ber 15 0 12 Months , 2024 ers $230 nths $145 0 0 $350 $250 0 0 Learn Provide $375 More 0 Pr r Ab
Published four times a year, Georgia Published weekly, CBA Today Communities First provides coverage a distribution of over Targeted marketing with CBA offers associate members anhas of community banking industry 5,000. This digital newsletter opportunity network, build business and brand recognition, and information on trends and to developments both includes on a stateyour and support national of level. The upcoming association events, reinforce Georgia’s community banking industry. magazine also features upcoming educational opportunities, professional development programs, associate members, as well Raise yourefforts profile competitors in 2024. Let CBAas create legislative asabove well asyour features state and national industry CBA members. All issues aoncustomized sponsorship andareadvertising package for you.news. Ads will link directly to published Lindsay digitally. Greene On average, the URL of your choice. Contact for each more information at lindsay@cbaofga. issue receives a minimum of 2,000 com 770.541.0376. digitalor impressions and reaches CEOs, Members Prospective Members LEAD representatives, regulatory agency Associate Members. $500 1 Month $700 officers, and All ads will link directly to your company's website $1000 3 Months $1250 or a link of your choice. $2000 6 Months $2260 $3500 12 Months $3750 CBA Members 1x 2x 3x 4x Back Cover $1250 $1225 $1200 $1175 CBA Home Page Advertising Inside Front Cover $1150 $1125 $1100 $1075 Inside Back Cover $1050 $1025 $1000 $975 CBA’s website, www.cbaofga. Full Page $850 $825 $800 $775 com, is the source of Half Page $650 $625 $600 $575 information on educational programs, events, industry Prospective Members 1x 2x 3x 4x articles, legislative updates, Inside Back Cover $1250 $1225 $1200 $1175 convention information and Full Page $950 $925 $900 $875 much more. Ad space is Half Page $750 $725 $700 $675 available on a monthly basis and can link to your home page or the destination of choice. banking industry, you will find the If you want to target top decision makers in Georgia’syour community pa ov and mo ckages inc ider Prog out the CB ram. Th lude ad A Prefe re – ch e oose rre ve the lev rtising, sp 2024 Prefe d Service Conta el that fits onsorships rred Servi ct CB ce your , reg A for details! goals and istrations budget.
2024 Advertising Overview
Reserve Your Ad Space Today!
Ad, Payment & Publication Dates
Members Prospective Members CBA offers numerous ways to help you accomplish your goals and stretch your marketing dollars.
1 Month $700 Materials Deadline Deadline Issue Show your supportPublication for CBA and promote your business at $500 the same time. $1000 3 Months $1450 January 15, 2024 February 15, 2024 Quarter 1 If you have questions, please contact Lindsay Greene at lindsay@cbaofga.com or (770) $2300 6 Months $2500541-0376. April 15, 2024 May 15, 2024 Quarter 2 $3500 12 Months $3750 July 15, 2024 August 15, 2024 Quarter 3 October 15, First 2024 Magazine November 15, 2024 Quarter 4 Communities Georgia CBA Today eNewsletter Advertising Published four times a year, Georgia Communities First provides coverage of community banking industry trends and developments both on a state and national level. The magazine also features upcoming professional development programs, legislative efforts as well as features on CBA members. All issues are 4 2 | ww w. cbao fga.com | Fal published digitally. Onl 2023 average, each issue receives a minimum of 2,000
Learn More About the CBA Preferred Service Provider Program. The Today 2024 Preferred Service Published weekly, CBA Provider packages include registrations has advertising, a distribution sponsorships, of over 5,000. Thisthat digital and more – choose the level fitsnewsletter your goals and budget. includes information on Contact CBA for details! upcoming association events, educational opportunities, associate members, as well as state and national industry news. Ads will link directly to the URL of your choice.
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1890
1964
Travelers begins to offer Financial Institutions coverage
Travelers becomes one of the first domestic markets to write Directors & Officers Liability insurance
1999 Travelers brings its Identity Fraud Expense Reimbursement coverage to market
2023
2011 Travelers CyberRisk coverage is introduced to the market
Travelers and the ICBA celebrate 40 years of partnership and $75M+ of Policyholder Safety Group Dividends
Banking changes. Our commitment to you never does. Throughout our long history, we’ve stayed focused on keeping community banks on the cutting edge. We do this with industry-leading specialists, expertise and offerings – all backed with local banking knowledge. Learn more at travelers.com/business-insurance/financial-institutions
travelers.com Travelers Casualty and Surety Company of America and its property casualty affiliates. One Tower Square, Hartford, CT 06183 This material does not amend, or otherwise affect, the provisions or coverages of any insurance policy or bond issued by Travelers. It is not a representation that coverage does or does not exist for any particular claim or loss under any such policy or bond. Coverage depends on the facts and circumstances involved in the claim or loss, all applicable policy or bond provisions, and any applicable law. Availability of coverages referenced in this document may depend on underwriting qualifications and state regulations.
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© 2023 The Travelers Indemnity Company. All rights reserved. Travelers and the Travelers Umbrella logo are registered trademarks of The Travelers Indemnity Company in the U.S. and other countries. CP-9620 Rev. 4-23
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Innovate to compete for the SMB market Digital banking platforms offering more personalized services will enable community FI’s to enhance their SMB customers experience and bring greater value. The (SMB) banking sector is undergoing a profound evolution. Rising competition, technological disruption, and evolving small business expectations are placing new demands on community FI’s, who face a simple choice: innovate to compete or risk losing market share to innovative competitors. Today, SMBs are challenged by increasing costs, higher interest rates, staffing challenges and depending on industry, major economic headwinds. Business owners are looking across a variety of channels to reduce costs, borrow inexpensively and improve efficiency, as they weather the current economic uncertainties. SMB’s have access to an ever-growing range of financial services and can easily find providers that deliver products and services that are tailored to their precise business needs. Financial service options range from traditional national/ regional FI’s with sophisticated Treasury Management solutions, to innovate FinTech’s that specialize in a niche product offering to Challenger banks that place an emphasis on their digital offerings. Why should banks focus on business customers? The SMB sector is an instrumental customer segment for community FI’s, with the potential to fuel long-term relationships from both a lending and deposit relationship perspective. It is no longer strictly about just rates or fees, while still important, but how a banking relationship can create business impact for an SMB. There are multiple strategies for a community FI’s to consider as they reevaluate their product and service offering along with the underlying technology and partnerships that deliver enhanced value-added services. Ron Shelvin, Chief Research Officer from Cornerstone Advisors, highlights one such strategy in a recent research report titled What Do SMBs Want In A Small Business Bank Account? Ron highlights the opportunity for community FI’s to “reinvent” their business checking accounts, weaving in value added services to further differentiate themselves in the market. SMBs are expressing a willingness to consider a relationship change of their checking account if it includes a variety of value-added services that drive business impact in safety, security and soundness of their business. Community FI’s have an enviable position as a secure, experienced, and trusted partner to the SMB community. As SMB’s are pressured to do more with less, they seek financial service partners that help create efficiency, move quickly, and
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deliver value added services. Community FI’s should do a selfassessment and ask: 1) Do we make it easy for an SMB to establish a relationship with us? 2) Is it easy for an SMB to do business with us? 3) Where and how do we create business impact for our SMB clients? Delivering better business banking Technology innovation should be a high priority to successfully execute their strategic objectives. Historically, community FI strategies have been limited by technology, with technology innovation FI strategy can now drive technology decisions. By focusing on the digital relationship between the FI and SMB, there may be several opportunities to improve SMB operating efficiency, deliver value and create an individual relationship through the digital channel. Technology examples to enhance SMB relationships through the digital channel and drive business impact include: Simple SMB new account and product onboarding New product recommendations Configurable back-office workflows Open API platform to easily integrate value-added FinTech’s. Comprehensive payments and money movement capabilities Deploying a platform with a combination of SMB defined works flows, approvals, and preconfigured settings for common or recurring events can significantly improve the back-office operation of the SMB. The SMB market remains a tremendous opportunity for community FI’s to grow existing relationships and deliver an innovative set of services and technology that will lead to long-term partnerships with SMB’s.
Paul Provenzano, VP Market Development
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CBA’S 2023 PREFERRED SERVICE PROVIDERS DIAMOND LEVEL
SILVER LEVEL
Jim Reber | jreber@icbasecurities.com | 901.762.5884
Phil Winn | Phil.Winn@acgworld.com | 678.458.9899
Scott Brown | scott.brown@icba.org | 334.328.5731
John Gianacaci | JGianacaci@BCC-USA.com | 609.915.9168
Dan Brannan | dbrannan@jamesbatesllp.com | 404.997.6023
Lexy Spikes | lspikes@collegeave.com | 214.232.5272
Alex Jernigan | jjernig@Shazam.net | 229.220.0064
David Lenoir | david.lenoir@shcpfoundation.org | 901.529.4786
ICBA Securities
Independent Community Bankers of America James Bates Brannan Groover LLP SHAZAM
PLATINUM LEVEL
Genesys Technology Group, LLC
David Saylor | david@genesystg.com | 770.729.4139 GOLD LEVEL
ACG
BCC-USA
College Ave Student Loans CRA Partners
Eclipse Brand Builders
Joel Thompson | jthompson@eclipsebrandbuilders.com | 678.894.4360
Executive Insurance Agency, Inc.
Ryan Sower | ryan@executiveinsuranceagency.com | 770.474.2355 Kasasa
BHG Financial
Ryan Busenitz | Ryan.Busenitz@kasasa.com | 678.595.0625
DefenseStorm
JR Llewellyn | jr.llewellyn@newcleus.com | 678.427.1015
FITECH
Melissa Wallace | melissa.wallace@qwickrate.com | 678.797.4062
Holtmeyer & Monson
Michael Ernst | mje@scelaw.com | 404-603-3441
Rachel Thornton | rthornton@bhg-inc.com | 843.251.4223 David Cross | David.Cross@defensestorm.com | 716.244.1107 Sarah Humphrey | shumphrey@fitech.com | 817.698.2268 Arne Monson | amonson@holtandmon.com | 800.340.7304 IntraFi Network
Danny Capitel | dcapitel@promnetwork.com | 770.630.6796 Mauldin & Jenkins Ron Mitchell | rmitchell@mjcpa.com | 229.446.3600 Point to Point Environmental
Mark Faas | mfaas@p2penvironmental.com | 678.565.4435 Ext 151
Newcleus Bank Advisors QwickRate
Stokes Carmichael & Ernst LLP
BRONZE LEVEL
AgoraEversole
Chis Bates | chris@agoraeversole.com | 601.366.7370 Bahr Consultants, Inc.
Hank Bahr | hank@bahrconsultantsinc.com | 865.694.6098
STS Group
Adam Stephens | adams@stsgrp.com | 256.957.8018 Travelers
Diana Baker | dcbaker@travelers.com | 678.317.7882
Wipfli Summer Gustin | summer.gustin@wipfli.com | 480.289.6052
Interested in becoming a Preferred Service Provider in 2024?
The Preferred Service Provider packages offers Associate Members the option of upgrading to package of your choice. A few benefits include early access to advertising, exhibiting and sponsorship opportunities, simplified budgeting and of course – increased exposure! All packages are reviewed by CBA’s Member Services Committee. To learn more, please contact Lindsay Greene at 770.541.0376.
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