Sept_Oct 2020 GA Communities First

Official Publication of the Community Bankers Association of Georgia

SEPT/OCT 2020

Embracing FinTech - A Must for Georgia’s Community Bankers CBA’s 52nd Annual Convention North & South PAC Clay Shoots PLUS: • Solutions for Success • Committee Chair Feature • Preferred Service Provider Feature

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CONTENTS

F E AT U R E S

September/October 2020 C B A S TA F F John McNair President & CEO john@cbaofga.com Lori Godfrey Executive Vice President and Chief of Staff, Government and Regulatory Relations lori@cbaofga.com Kristi Greer Senior Vice President Professional Development kristi@cbaofga.com

2

Embracing FinTech - A Must for Georgia’s Community Bankers

3

2020...Not a Year of Perfection

t h e l at e s t

5

Lights, camera, action...

It is go time!

6

North & South PAC Clay Shoots

24 It’s Time for CBA’s 52nd Annual Convention

26 Bank Directors College

31

ACAMS Accredited

33

Meet CBA’s Connie Shepard

member services

FinTech at Georgia’s Community Banks

19 CBA Preferred Service Provider: Dan Brannan, James-BatesBrannan-Groover-LLP 21 ATDC/FinTech Committee Chair: Chris Stanley

35

Kickoff!

37

Elder Abuse

39

Renewing your Bank’s Insurance in the COVID-19 Era

40 CBA’s Preferred Service Providers

trends

23 Solutions for Success

s tay connected

Lindsay Greene Vice President Member Services, Marketing and Communications lindsay@cbaofga.com Tammy Maass Vice President, Accounting tammy@cbaofga.com

29 Education Buzz

s pot l i g h ts

9

p ro f es s i o n a l d e v e lo p m e n t

Cassie Conklin 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 Lisa McNair Director of Finance lisa@cbaofga.com

@CBAofGeorgia

@CBAGeorgia

@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 S e p t e m b e r / Oc t ob e r 2 0 2 0 | G e or g i a C o m m un i ti es F i rs t | 1

VANTAGE POINT

Embracing FinTechA Must for Georgia’s Community Bankers When my friend Kevin Tweddle from ICBA called me and suggested I visit with Charles Potts, now also with ICBA but formerly the FinTech Catalyst of Georgia Tech’s Advanced Technology Development Center (ATDC- www.atdc.org), I jumped at the chance. Having a technology incubator program essentially in CBA’s backyard provided the opportunity to help Georgia’s community banks level the playing field with other larger bank and non-bank financial services providers.

Learning that ATDC has been in existence for 40 years, I could not believe a relationship with the Georgia’s banking industry did not already exist- I certainly was not going pass up the opportunity!

The CBA/ATDC partnership is a win/win for both organizations. CBA members can learn more about burgeoning FinTech solutions and the entrepreneurs developing new solutions have the unique opportunity to directly speak with community bankers that are willing to provide guidance and constructive counsel. The end goal is to develop go to market solutions for community bankers across the country with Georgia’s community bankers being exposed to new and innovative solutions first. Why is this so important for CBA and Georgia’s community bankers? Look back over the past few months for the answers.

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John McNair President & CEO Community Bankers Association of Georgia

Clearly, the way we all live, work, and learn has been changedperhaps forever. As a result, customers are demanding more technological based solutions for their banking needs.

Community banks have strong relationship edge over other financial services providers; however, they must also offer all the on-line banking tools as well. Additionally, due to low rates and overall margin compression, FinTech solutions offer the opportunity increase rate spreads, drive other sources of non-interest income, and improve the overall efficiency ratio. The attached chart from CBA Preferred Service Provider Qwickrate helps emphasize this point.

The Paycheck Protection Program (PPP) as part of the CARES Act drove home for all Georgian’s and Americans just how important the community banking industry is to economy. Georgia’s community banks made over 60% of all PPP loans in the state, funded $9 billion in loans (64%) and saved over 1 million jobs (70%). Embracing FinTech solutions will help keep Georgia’s community banks healthy and strong for many years to come. CBA is committed to working with our partner ATDC and other organizations to make sure the association is at the forefront of FinTech innovation for our member banks.

FROM THE TOP

2020...Not a Year of PERFECT VISION

Ron Quinn President & CEO Peach State Bank & Trust, Gainesville 2019-2020 CBA Chairman

As I reflect to September of last year, at the CBA Annual Convention, my message was that 2020 would be a year of PERFECT VISION for our industry and our economy. Now, there has never been in my 40- year banking career a time of more UNCERTAINTY, as we approach the fourth quarter of 2020 and the beginning of 2021.

businesses and agri­ business clients began to feel the effect of the virus, community banks stepped up again to fund over 60% of the $350 billion allotted for the first round of PPP loans.

The Corona virus has had a major effect on our economy and caused millions to lose their jobs, and many businesses to be impacted financially to the point of shutting down.

The year started with all banks in Georgia enjoying a Net Interest Margin well above 4.0 percent, something that most of us have not seen since the 1980’s. An economy that was booming, low unemployment rates nationwide and even lower in Georgia, and the stock market at all time highs with what economists predicted was less than a 20% chance of a national recession in 2020, and if there were one, Georgia would fair much better that the rest of the nation. Life was good.

We all need to realize that this recession is not a financial recession, it is a healthcare recession caused by the pandemic.

Even amidst an upcoming political election with strong opinions on both sides, our economy has already started seeing signs of improvement. Unemployment numbers are beginning to rescind, and the stock market is beginning a strong rebound. The Corona virus (COVID-19) has impacted us all either personally or indirectly with friends and family that have been infected. As devastating as it is, compared to the 1918 Spanish flu which killed over 50 million worldwide, 2.5% of the entire world population, the 2020 Chinese virus (COVID-19) has accounted for over 170,000 deaths worldwide only 0.01% of the world population. The Spanish flu came and went in about 25 months, and this current pandemic is following close to the same timeline.

The regulators had been asking bankers over the last twenty years to have a strong pandemic plan prepared and tested to make sure banks and bankers were ready should a pandemic ever hit. We all felt that this was not the best use of our time, but foresight by the regulators had us all prepared, as we complied with their request. I personally would like to send a big “THANK YOU” to all our Banking Supervisory Agencies that had us all so prepared as COVID-19 began to appear in the United States.

Community banks around Georgia, rolled out their plans and did what it took and continue to do what it takes to keep the banking side of the economy going. Bankers took the necessary steps to make their Banks safe for the staff and customers and keep commerce going. As our small

No, it has not been a year of PERFECT VISION, but it has been a year of CLEAR VISION for the Community Banks throughout our Nation and right here in Georgia. Never has Community Banking received so many POSITIVE accolades for doing the right thing for our customers, our local economy and even non­customers that needed our help for survival. We have shown the strength of knowing our customers and building relationships that will last a lifetime. COMMUNITY BANKING is alive and doing quite well!!!

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Corner GENERAL COUNSEL

legal news and updates for cba members

Have a topic you would like to see covered in “General Counsel Corner?”

Email us at generalcounselcorner @ jamesbatesllp.com

cbahotline

@ jamesbatesllp.com

Lyn G. Clinton

Attorney (404) 978-7810

lschroeder@jamesbatesllp.com

Michael N. White

Attorney (478) 749-9921

mwhite@jamesbatesllp.com

Corrie E. Hall

Attorney (478) 749-9949

chall@jamesbatesllp.com

September/October 2020

FinTech Limbo: Updates on Challenges to Special Purpose National Charters and Other State Regulatory Efforts

By Lyn G. Clinton, Michael N. White and Corrie E. Hall

On July 31 2018, the Office of the Comptroller Currency (“OCC”) announced that it would begin accepting applications for special purpose national bank charters from nondepository financial technology (“FinTech”) companies engaged in the business of banking. This announcement, however, was met with controversy and litigation. As a result, to date, the OCC has yet to issue a “FinTech Charter”.

While the FinTech Charter remains ensnared in the court system, the OCC and state regulators alike have looked at other ways to license and regulate FinTechs.

This article details the legal challenges to issuance of a FinTech Charter to date and the efforts by the OCC and state regulators to create a solution for FinTech licensing and regulation.

Under the OCC’s Policy Statement on Financial Technology Companies’ Eligibility to Apply for National Bank Charter, a FinTech could obtain a national bank charter that permits the FinTech to conduct business across multiple states. By obtaining this charter, a FinTech could streamline its licensing requirements and regulatory burdens and preempt many state law requirements.

Understandably, community banks and their trade associations share concerns that a FinTech Charter will put community banks at an unfair advantage compared to a FinTech with a national bank charter.

A key competitive concern is that the FinTech may not have to meet the same regulatory standards as a depository institution. State regulators are also concerned that such a charter will allow FinTechs to usurp state consumer protection laws that state regulators are better positioned to oversee.

Approximately two years ago, the New York Department of Financial Services (“NYDFS”) instituted the first legal challenge to the OCC’s authority to issue FinTech Charters by filing suit against the OCC in the Southern District of New York. The legal question at the heart of that suit is whether the OCC has authority under the National Bank Act to grant a charter to an entity that does not accept deposits – i.e. does the “business of banking” require accepting of deposits.

The OCC contends that the National Bank Act does not require the applicant to accept deposits if “it can present the OCC with a viable business model that does not require it.” However, the Southern District ruled in favor of NYDFS, ruling that only depository institutions are eligible to receive national bank

charters from the OCC. The OCC has since appealed this ruling to the United Circuit Court of Appeals for the Second Circuit, where the appeal remains pending.

Against this uncertain backdrop, the Comptroller announced in a June 2020 podcast with the American Bankers Association the OCC’s plans to introduce a “Payments Charter 1.0” which would be a “national version of a state money transmission license.” An OCC Payments Charter would enable a payment company to function on a national platform regulated by the OCC, but still preempt state money transmitter licensing requirements. Like the FinTech Charter, the Payment Charter is being to be met with opposition from state and local regulators and bank trade associations.

On July 29, 2020, the American Bankers Association and the Independent Community Bankers Association, together with several other trade associations, delivered a letter to the OCC sharing their concerns over the proposed Payments Charter.

This letter encourages the OCC to “be careful not to introduce risks that might undermine the trust or establish asymmetries that would encourage regulatory arbitrage” and requests an open and transparent process in considering new charters. The letter also highlights the importance of bank holding company oversight of any holding company of a special purpose national bank.

It is yet to be seen whether the OCC FinTech Charter or the Payments Charter will emerge from litigation or gain sufficient support for implementation. However, many state regulators are not waiting on an answer to this question. Over half of the state regulators across the county have agreed to a uniform processing approach for money transmitter and money-services business, including Georgia which was one of seven states that agreed to a uniform process in 2018. This prompts another question – will the innovation and streamlining initiatives by state regulators alleviate the desire for the FinTech Charter or the Payments Charter?

The regulatory landscape for FinTechs remains one to watch over the coming years, as answers to these various questions play out under the watchful eyes of regulators and community banks alike.

PRESENTED BY GEORGIA’S LAW FIRM: OFFICES MACON + ATLANTA

“General Counsel Corner,” a recurring column featuring legal news and information of interest to CBA members, is brought to you by James-Bates-Brannan-Groover-LLP. Visit us at GeorgiasLawFirm.com

THE LATEST

Lights, camera, action...it is go time!

It’s go time for elections in Georgia and around the nation. I am sure that you have been inundated with mailings, phone calls, social media campaigns, and commercials. T-minus 60 days until election day on November 3, 2020. The pandemic has been hard for businesses, individuals, and politicians. At Community Bankers Association, we have been building our PAC fund in order to make contributions to candidates during this election cycle. A wise Advocacy Committee Chairman once said that you should consider political contributions like insurance policies. You pay into the insurance fund each year in hopes that you never have to cash in on that policy. But in the event that you do, then you are prepared for when you need that vote. What are ways that you can help? Direct contributions to our PAC fund, grass roots advocacy in your community, or attending a CBA event that Lori Godfrey Executive Vice President benefits our PAC fund. Most importantly, you can get out and VOTE! At our Annual Convention & Mini Trade Show, CBA will host its annual silent and live auction that benefit the PAC/PR Fund. We always love to see the donations from bankers and vendors that come from all over the state. This fall, CBA will be hosting our annual Clay Shoot and Cornhole Tournament in both south and north Georgia.

On Wednesday, September 30th, our event will be at the Wynfield Plantation in Albany. On Thursday, October 8th, our event will be at the Burge Plantation in Mansfield. We hope you can join us! This year has been a tough year and the clay shoot may be a way for you to have a little fun while socially distancing with a team of friends as you shoot clays.

& Chief of Staff Government and Regulatory Relations

The next legislative session will be here before we know it and it will be time to start building our fund for next year. Our work here is never done. We must continue to remain active and monitor items as they come up. I have a loud voice and I am not afraid to use it for the benefit of our community banks. Let me know how I may be able to help you!

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THE LATEST

CHARLIE CURRY TOURNAMENT WEDNESDAY, SEPTEMBER 30, 2020 WYNFIELD PLANTATION, ALBANY THURSDAY, OCTOBER 8TH, 2020 BURGE PLANTATION, MANSFIELD CBA'S ADVOCACY COMMITTEE The banking industry continues to deal with issues that will have a profound effect on how we do business as community banks in the future. The Community Bankers Association of Georgia’s Advocacy Committee is a vital tool for educating members of the Georgia Legislature about the issues and concerns of the state’s community banking industry. The PAC/ PR funds help CBA educate policymakers, promote our advocacy efforts and support those members of the Georgia Legislature who know the importance of maintaining a robust and healthy financial industry.

Morning Flight: 9:00 am -12:00 pm Lunch for Both Flights: 12:00 pm Afternoon Flight: 1:30 pm - 4:30 pm

CLICK HERE FOR MORE INFORMATION AND TO REGISTER

WHAT TO BRING • Shotgun (A limited number of shotguns is available for rent. Call CBA for more information) • Shells for your gun, at least 125 rounds (available for purchase onsite) We kindly encourage you to invite your clients and potential clients to join in the fun and register a team of four.

THANK YOU TO OUR PREFERRED SERVICE PROVIDERS

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THANK YOU TO OUR SOUTH SPONSORS PREMIER SPONSOR

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STATION SPONSOR

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WE’RE IN THIS BOAT TOGETHER

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FINANCE TEAM SUPPORT

For more information, contact Lisa Small at Lisa.Small@warrenaverett.com.

FINTECH at Georgia’s Community Banks Creating high-tech, high-touch experiences that provide value for customers Community banks have been built on providing outstanding customer service and bankers knowing their customers. Georgia’s community banks are also known for having a competitive edge by combining technology with personal service to offer a remarkable customer experience while meeting the evolving needs of their customers.

In 2019, CBA partnered with the Advanced Technology Development Center (ATDC), the state of Georgia’s technology startup incubator to identify, develop, and refine financial technology (FinTech) solutions for community banks. The CBA ATDC FinTech Committee was formed, and Georgia’s community banks are taking the lead in finding FinTech solutions for their customers.

“Finding the most appropriate FinTech solutions to better serve their customers is at the forefront of every community banker’s mind,” said John McNair, President & CEO, Community Bankers Association of Georgia.

“The partnership between ATDC and the CBA will greatly accelerate the introduction, implementation, and acceptance of new solutions — all while producing greater economic benefit to the Georgia economy”

“CBA is thrilled to be leading this effort on behalf of Georgia’s great and robust community banking industry.”

An economic development offering of Georgia Tech’s Enterprise Innovation Institute, ATDC’s collaboration with CBA further advances the incubator’s mission to support the growth and development of FinTech startups in Georgia through the ATDC FinTech Program.

SPOTLIGHT

FinTech HUB

• Georgia FinTech Companies generate annual revenues of more than $72 billion, placing third in the nation.

• Georgia companies employ more than 10,000 network and computer system engineers.

• Roughly 100 FinTech companies are headquartered or have a significant presence in Georgia. Six of the ten largest U.S. payment processing firms are Georgia-based.

• Georgia FinTech organizations employ more than 30,000 professionals in the state and over 130,000 globally.

• Georgia FinTech companies process over 118 billion transactions per year representing over $2 trillion of purchase volume each year, supporting nearly 4 million merchants.

Source: Technology Association of Georgia

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SPOTLIGHT “ATDC is happy to collaborate with the CBA of Georgia to celebrate the narrative of community banks and FinTech companies working together to create a better financial ecosystem across the state of Georgia. In the past, FinTechs and banks were positioned to be in competition with one another, but the reality is FinTech technology can help enable banks to innovate and expand their services,” explained Kristin Slink, FinTech Catalyst, ATDC, Atlanta.

“ATDC and CBA of Georgia is working together to abolish myths and bring both sides together to understand each other in an idea driven, collaborative environment.”

“I’m really proud of the CBA’s efforts to establish relationships in the FinTech community. The partnership with ATDC is a model for other state banking groups to follow. The value the bankers bring could be the difference in success or failure for these young companies. Likewise, the ATDC FinTechs are bringing new ways thinking about how consumers interact with their finances,” stated Scott Mills, APR, President, William Mills Agency, Atlanta.

“Community banks are relying on technology even more—to innovate, be nimble and efficient, and serve the highly complex needs of customers,” said ICBA Chief Innovation Officer Charles Potts. “That’s why Accelerator programs that facilitate community bank-FinTech collaborations and solve for community bank pain points are so important. Ultimately, it’s about accessible, viable and effective solutions that speak directly to the needs of community banks while creating the high-tech, high-touch experiences that provide value for customers.”

COLLABORATION IS KEY

Georgia Community Bankers Share Experiences and Advice CBA’s ATDC, FinTech Committee, chaired by Chris Stanley, Senior Vice President, Atlantic Capital Bank, Atlanta, includes a group of bankers and associate members who are passionate about how FinTechs have improved the customer experience and increased efficiencies at their bank.

An important piece of the banking-FinTech puzzle is working closely with regulators. “The current pandemic seems to have pushed us ahead five or ten years in terms of how we conduct business through digital delivery channels, further highlighting the great opportunity for banks and FinTechs to collaborate and partner,” stated Kevin Hagler, CEM,

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SPOTLIGHT Commissioner, Georgia Department of Banking & Finance. “FinTechs have the ability to provide improved delivery channels and process solutions through agile development to better meet the needs of businesses, consumers, and the banks themselves, in a rapidly evolving environment. Banks bring to the table the critical working knowledge of banking laws and regulations, and a strong, well established financial platform. As a regulator, my focus is on the safety and soundness of the industry, and my goal is to fulfill that mission in a manner that embraces innovation and helps facilitate it, not stifle it.”

CBA invited several members of the ATDC FinTech Committee to share their experiences and most importantly, their advice for getting started. As you will read, each bank has different goals and objectives and our member banks have a wealth of knowledge to share with their counterparts. Thank you to these contributors.

Keith Sebade Chief Strategic Officer BankSouth, Greensboro BankSouth is focused on what we believe are two sides of the same coin when it comes to technology – efficiency and customer centricity.

For years we acted like a buyer of multiple software systems, each geared at a limited solution without regard as to how the program might fit into the core (which was dismissed because it always seemed difficult) but also how it should integrate with other adjacent customer oriented systems. Our goal now is to create a whole ecosystem that is interactive, easy to navigate for customers and easier to manage on the back-end to be more efficient.

We believe that if our systems and processes are built around the customer experience, those systems should also be easier and more efficient to manage for us as well.

With that in mind, an ounce of integration is worth a pound of additional capability in our book. When we look at new solutions, we are a little wary until we understand how it could integrate into our core, databases, adjacent systems and become part of our customer experience.

For instance, a bank could purchase a brand new loan origination system with slick portals and a phone app that also alerts customers automatically on the status of the application – but the positive impression of those capabilities could be lost the second the bank sends the same customer a different portal requesting a lot of the same information in order to open their deposit account and a separate CRM sends the customer an email advertising new low rates for the same type of loan for which they’ve applied As a bank, we should realize from the beginning that FinTechs and banks are entirely differently oriented.

Banks are regulated companies and responsible for a broad array of customer service issues, customer data, security, multiple compliance and best business practices – not to mention risk. FinTechs are usually formed around a single idea or problem to solve. They charge hard at the problem they’ve identified and bring innovative solutions and thinking to the issue but at the same time may not see the wider customer experience and the situations that will arise with customers or approach operations with the same level of risk management as a banking team. A bank is interested in better technology that FinTechs can provide, and a good FinTech partner should understands they need the knowledge that a bank brings in understanding the broader customer, regulatory and operational issues that come with banking services.

Finally, it will always be up to the bank to determine how a FinTech solution integrates into the bank’s technology ecosystem and core.

Kimberly Kirk Executive Vice President, Chief Operations Officer Queensborough National Bank & Trust Co., Louisville There are several parameters that I look at when employing any technology including FinTech offerings. Does it improve the customer experience?

Does it improve the teammate experience? Does it generate revenues or create efficiencies for the bank?

Does it help the bank improve its security posture or meet safety and soundness goals? Ideally, the solution meets more than one of those requirements.

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SPOTLIGHT We have used technology heavily through the pandemic, particularly as the bank originated PPP loans using Robotic Process Automation (RPA) as much as possible to create loan packages and book and fund loans to ease the workload on our teammates as well as online document portals and electronic signature capabilities to ease the process for the customers to submit documents to the bank and execute loan agreements as many folks were quarantining, and the bank’s lobbies were closed. We have also deployed a solution from a FinTech for PPP loan forgiveness to make the process for the customer easier and to manage the forgiveness process for the large number of PPP loans that the bank has originated.

The bank already had a full suite of mobile products for customers to support remote customer transactions and offers cash and check deposit functionality at all of our ATMs to allow customers to make deposits with the bank at any time. The bank launched a customer care team last fall who transitioned to a virtual environment during the pandemic to continue to support customers, and with the telephony technology the bank has deployed, calls initiated to the branches are routed to the care team as branches have closed due to the pandemic so that customers can still receive live support. In addition, the bank has just recently launched chat functionality and secure messaging in our online and

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mobile banking solutions so customers can receive support via live chat if they choose that delivery method as well, and can exchange documents with the bank securely.

The bank goes through an exploratory process and new vendor risk assessment when a new partnership is considered. Information Security Risk is considered depending upon the kind of information the vendor will have access to, and controls the vendor has in place to manage and secure that information. The bank looks for information security policies and procedures to be in place with the vendor, including hiring practices. The bank looks at any available audit reports from the vendor including SOC reports available on data centers that the vendor uses, business continuity plans, and results of disaster recovery testing. Other consumer compliance risk is assessed based upon the product or service being considered and documented in the new vendor risk assessment.

Advice: The bank should assess what its needs are and the problem it is trying to solve to understand if a FinTech is a good fit to solve that problem, and fits in the bank’s strategy.

Buying the shiny new object may not provide desired results for the bank. The bank should also consider the ways that it can engage with FinTech firms, either by purchasing services through a larger vendor like the bank’s core provider or online

SPOTLIGHT banking provider allowing that vendor the bank already has a relationship with to do the due diligence on the FinTech and integration work that may be required, or by engaging with the FinTech directly. There are pros and cons to both models.

FinTech companies. Remember to be receptive to open concepts and new ideas to solve problems. As the bank transforms and evolves digitally, the bank will be better positioned to make more informed strategic technology decisions.

Marisa Reynolds SVP, Digital Transformation & Information Technology Oconee State Bank, Watkinsville

Elliott Miller, CEO Georgia Banking Company, Atlanta

As a community bank, Oconee State Bank’s mission is to create remarkable experiences for our customers. Partnering with and fostering FinTech relationships provides the bank a definitive edge in meeting our goals for competitive, friction free, and efficient systems to meet the evolving needs of our consumer and commercial customer base.

During these unprecedented times, both consumer and commercial customers have become reliant on technology more than ever. The introduction of electronic applications and signatures to serve our customers, for processes that were previously performed solely in the financial centers, is one example of evolving with the changing environment. The bank was able to seamlessly support our customer base remotely, while remaining focused on the convenience, safety, and security of the transaction.

A FinTech can assist all areas of the bank with improved workflow, decision making, and efficient processes, which allows our team members to maximize their time building customer relationships.

We want the customer to experience a friction free and fluid transaction that exceeds their expectations.

Introduction of FinTech digital solutions has helped the bank attain these goals.

A FinTech company should be in tune to the legal, regulatory, and compliance components that are unique to the banking industry. It is important these areas are communicated to the bank effectively in order to gain trust in their software applications and company.

In addition, the FinTech must be able to provide a remarkable end user experience for our team members, one that is efficient and allows ample time to onboard the customer’s full relationship.

Advice: It is imperative for a bank to stay educated on available solutions by utilizing multiple resources for information gathering and building FinTech relationships.

In addition, be willing to discuss the bank’s pain points with

Our mortgage warehouse business unit relies heavily on technology to deal with its volume of over 3,000 transactions per month from nearly 100 mortgage originator clients. Efficiency, accuracy, and effectiveness are key, with poor execution resulting in dissatisfied clients, undue risk, and untenable cost.

Competition is fierce, and we’re constantly working, often with third parties, to improve our delivery and thus provide better service, leading to higher returns. Client

STRENGTH IN FinTech “Transaction Alley” • 70 percent of all U.S. payments are processed through Georgia • Payment processing companies employ nearly 40,000 workers in metro Atlanta with more than 250,000 people working in financerelated occupations, according to the American Transaction Processors Coalition. There are an additional 105,000 people around the world on the payroll of these Georgia companies, giving to the nickname “Transaction Alley.”

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SPOTLIGHT access to our system is key in that it improves timing and accuracy as well as allowing them better control over their own timing and priorities.

The ultimate measure of effectiveness of our pandemic response is client and employee opinion, which were and continue to be extremely positive. Early on, our bank decided that dispersing the majority of our workforce to their homes provided our best option to maximize their safety and continue to achieve our business objectives. Fortunately, we had in place a comprehensive pandemic response plan which we had regularly practiced with actual dispersions, including laptops, business phones, and other relevant gear. We were responsive to system issues and priorities with tech team action, as example sourcing and delivering second screens to the entire team in 24 hours. We also used tech solutions to facilitate communication and morale building, with Zoom becoming, and remaining, one of our best tools, and online food sourcing a new way to break bread together.

GROWING THE NEXT FinTech COMPANIES

Georgia Tech’s ATDC FinTech Accelerator program, sponsored by Worldpay, works with early stage FinTech companies to help them with connections to coaching, capital, customers, and campus resources and talent.

Source: ATDC

Advice: Our advice for new adopters is that the quality of the preferred good or service is key, both in terms of its effectiveness and suitability for your particular needs. Fly by night vendors will have flown when difficulties arise.

Verifiable successes are important, and not just from references they provide which will always be positive.

Two final notes: If you don’t have capable technologists on your team, get help from someone other than the seller; and: Take a realistic approach to the numbers; the niftiest technology may or may not be a good value proposition insofar as providing ultimate return.

Frank Griffin, President Flint Community Bank, Albany Our primary goal for using technology is ultimately for competitive edge and efficiency. We are a one location bank and we have positioned ourselves to take the bank to the customer. Efficiency is the key for our success. Leveraging available technology to enhance the delivery of our products and services to our customers is the only way to survive in today’s market.

We have not introduced new products to our customers. However, because of COVID-19, the shelter in place orders and the subsequent fear that has gripped our nation, the use of our existing electronic delivery products and services has become the norm, rather than the exception. Technology has allowed and the pandemic has basically required us to close loans and open new accounts using electronic signatures, in greater number than ever before. In the past, electronic signatures have been used simply out of convenience. Today, its use is a necessity.

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For us, FinTech products or services are just more arrows in our quiver for effective, efficient delivery of product and services. It is certainly convenient in these times of necessary social distancing. However, I believe our delivery systems will forever include face to face delivery as well as the convenience of FinTech products and services.

It is my belief that the greatest efficiency to be gained is in the daily interaction with customers. Using technology to interact electronically via email, text, video conference, etc., if used properly and professionally, will increase the delivery of solutions to customers so that time is saved and matters are resolved in a more efficient and effective manner, creating more bandwidth for each employee to meet the expectations of more customers on a daily basis. More efficient, effective communication and service delivery will reduce future overhead costs, while hopefully creating a better customer experience.

There is a learning curve for most customers at the onset of new products and services. However, our customers welcome new technology and adopt it rapidly. We have had no complaints concerning how we delivered our products and services during the COVID-19 crisis.

Due diligence is of utmost importance when evaluating any potential partnership, but especially those partnerships which will present opportunities to have private information sharing or potential interactions directly with our customers. Our Information Technology Steering Committee, which consists of senior management and our IT professionals, has a vetting process through which all pertinent information from the potential partner is evaluated.

Advice: If you are in my market and are one of my competitors, don’t do anything. Stay like you are! Otherwise, if you are not one of my direct competitors, just GO FOR IT! How to get started? The CBA has a listed of endorsed technology consultants and providers. I would start with John, Lindsay and CBA team. I would also recommend speaking with other community bankers around the state to learn of their experiences or best practices in implementing new technology.

Chris Stanley Senior Vice President Atlantic Capital Bank, Atlanta CBA ATDC FinTech Committee Our primary goal for Atlantic Capital’s FinTech banking program is to fuel prosperity for our clients by creating a true partnership, offering best of breed solutions, and providing unparalleled customer service. We pride ourselves on creating a seamless onboarding process to maximize customer experience from the 1st conversation with a prospective client.

We strive to deliver the same standard of service throughout the duration of the relationship. Our FinTech practice was built from the ground up with an entrepreneurial mindset and strives to help entrepreneurs exceed their goals by offering tailored solutions to fit the ever-changing needs of their business. Technology has been key in allowing our FinTech clients and the bank continue to focus on serving our clients. Atlantic Capital was wellpositioned to transition to a virtual environment and we have done so exceptionally well.

FinTechs help banks acquire new technologies, such as: a streamlined banking core and more efficient sub ledger management, utilize AI and

machine learning to identify/minimize fraud risk to the bank, provide data solutions to help streamline internal KYC/BSA/AML compliance processes, provide point of need lending platforms to allow the bank to reach more clients, and API’s to allow business/consumer clients to plug in to more streamlined solutions with less friction.

While you can’t replace the experience of direct human interactions, FinTech’s rely solely on technology to reach complex multi-generational demographics of defined market segments and have become experts at streamlining the ease of which a consumer can manage their finances.

FinTechs need to partner with a bank that is able to match their entrepreneurial mindset and provide guidance around how to achieve their goals in a compliant and efficient manner. That is where we come in. At Atlantic Capital, we are able to leverage our industry expertise to help FinTechs achieve growth by providing a scalable and compliant banking infrastructure. Banks have to adhere to and are used to operating within stringent compliance requirements but that is something that FinTech companies aren’t always accustomed to, especially when in startup mode.

When evaluating a new prospective FinTech client we focus on what the FinTech does best and we gauge where the FinTech company is in their business cycle. We find ways meet them where they are and to help them expand on what they already have in place. We dig deep into the inner workings of the FinTech to make sure we understand everything we can about their current processes and procedures. We look for FinTech partners who have a proven pilot in the market or that have the potential to create traction in the marketplace.

CBA ATDC FINTECH COMMITTEE ​ Committee Chair: ​Chris Stanley, Atlantic Capital Bank, Atlanta Vice Chair: Dawn Bridges, First National Bank of Coffee County, Douglas • Brandon Baines, Atlantic Capital Bank, Atlanta • ​Kathryn Bunn, Atlantic Capital Bank, Atlanta • Zach Duke, Finosec, Alpharetta • Frank Griffin, Flint Community Bank, Albany • Jim Jowers, Colony Bank, Fitzgerald • Kim Kirk, Queensborough National Bank & Trust Co., Louisville • Jim Lientz, Safe Harbor Consulting, LLC, Atlanta • ​Elliott Miller, Georgia Banking Company, Atlanta • Scott Mills, William Mills Agency, Atlanta • Ross Mynatt, Craft Bank, I.O., Atlanta • ​Alisha Nasse, Hyperion Bank, Atlanta • Lincoln Parks, Heritage Bank & WebMobileFusion, McDonough • ​Ed Pope, F & M Bank, Washington • Marisa Reynolds, Oconee State Bank, Watkinsville • Jim Rumph, Wipfli/PKM, Atlanta • ​David Saylor, Genesys Technology Group, Norcross • Keith Sebade, BankSouth, Greensboro • ​Kristin Slink, ATDC, Atlanta • James Stevens, Troutman Pepper, Atlanta • Mani Swarnam, Georgia Primary Bank, Atlanta • ​Kevin Thrash, American Commerce Bank, N.A., Bremen

With that being said, we currently partner with FinTechs on both ends of the spectrum, some are still in startup mode, burning cash and striving to create a new market, focusing on raising their Seed Round/Series A Round. We also work with several well established FinTech companies that are in the revenue generating phase, which typically means they have experienced a great deal of traction in the market, have a proven/ compliant business models and have

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SPOTLIGHT gathered strong interest from VC’s, Angels and other investors. All of the circumstances mentioned play a key role in determining a partnership fit.

For instance, if a FinTech approaches us and needs assistance with ensuring that the business model they created is a compliant and operates within regulations (set forth by the OCC, SEC, Fincen, NACHA) not only do we have banking solutions to assist with that but we also work with outside industry experts who are able to coach FinTechs around the best way to build that into their existing business model. This allows the FinTech company to focus on what they do best: delivering unique solutions to help make their customers’ everyday lives better and capturing an underserved/ unidentified share of the financial services market segment.

Advice: I would say that entering into the FinTech banking space has paid dividends for Atlantic Capital and has been a very rewarding opportunity from a professional/organizational experience. But every opportunity comes certain challenges. If your

organization is considering this as potential new stream of revenue, I would provide this advice to help you minimize the barrier to entry and quickly capture a share of the market.

• “Define Your Niche and Expand on it” Make sure when vetting that it is something that currently aligns in some form or fashion with what you are already an expert at. For example, before starting our FinTech practice Atlantic Capital was already a top 50 (now top 40) ACH processor in the US. This is due largely in part to the how we designed our infrastructure and the success we experienced when targeting the payroll market.

These variables were taken into heavy consideration when considering the opportunity to expand our footprint and capture a portion of a new market.

• “Find the Right Guide” Whether preparing to go on a hiking expedition or trying whitewater rafting for the first time, an experienced guide is something that you don’t want to leave home without. In the infancy stages of creating a new line of business it is crucial to have a guide.

Don’t spin your wheels on trying to retrain existing personnel to overtake

a challenge that they may or may not be comfortable with.

• “Don’t be afraid to shake things up” Your existing organization probably has a certain way of doing things and that is fine as all organizations have a specific culture. See this as an opportunity to expand your personnel and get a fresh perspective from outside resources • “Identify a Keystone Client” The word “Keystone” typically means “something on which all else depends” and could not be truer in this sense. If you are building out a new line of business you will need to invest crucial man hours and hard earned company dollars but you don’t want to do this without ensuring some form of return on your investment. Find a FinTech who’s “niche” aligns with yours and build the business model around the goal of integrating with their client base and offering a better solution together than you would be able to separately.

The success of developing a new line of business is greatly determinate and hinges on partnering with the right client.

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CBA Preferred Service Provider Spotlight – Dan Brannan, James Bates Brannan Groover Dan Brannan Partner James Bates Brannan Groover

In this issue, CBA is pleased to feature Dan Brannan, Partner, James Bates Brannan Groover LLP, in Atlanta.

CBA invited Dan to participate in a Q & A so you can learn a little more about Dan and his firm.

Tell us about James Bates Brannan Groover and your role with the company: Our firm is a full-service business law firm with robust statewide practices in the areas of (i) community financial institutions, (ii) commercial real estate, (iii) general corporate, (iv) tax & wealth planning, and (v) commercial litigation.

We have approximately 60 lawyers with offices currently in Atlanta and Macon;

we plan to open our Athens office later this year. Although my practice involves most of our practice areas to some degree, I’m very active in our community bank practice and our commercial real estate practice. In addition, I serve on our firm’s management committee.

Most importantly, I strive daily to live by and model our firm’s core values of integrity, servant leadership, respect for others and pursuit of excellence.

SPOTLIGHT

group sums it up: “Serving community banks and community bank executives and directors throughout Georgia.” We provide advice and services statewide to community banks on all types of legal issues and practical business/ operational issues encountered on a daily basis. Our services include, without limitation, de novo bank representation, board representation, advice for C-Suite personnel, capital formation, M&A, commercial loan closings, litigation, executive compensation and employee relations.

What types of inquiries does your firm receive from banks on the free CBA Legal Hotline?

As you may imagine, the types of inquiries we receive on the CBA Legal Hotline are all across the board. We receive a high frequency of inquiries concerning issues with trusts, wills, powers of attorney, deposit accounts of deceased customers, subpoena responses and BSA/AML. Our involvement with the CBA Legal Hotline really helps us keep our finger on the pulse of daily issues confronted

by Georgia community banks. It is a privilege for us to provide that service to CBA member banks.

Tell us a few interesting facts about you.

I’m afraid there is not much here.

Generally, I have a “glass half-full” outlook. I am as uncomplicated, low-

maintenance and Georgia “homegrown” as anyone you will ever know. Born in Atlanta, raised in McDonough, never left Georgia for college or law school and married an Atlanta hometown girl. In the “interesting facts” department, just the usual stuff. When I was in college, I wrestled (and pinned briefly) Victor the Wrestling Bear in an exhibition match at the Georgia World Congress Center.

I, like most others, typically wear a kilt a couple of times a year (usually to our firm Christmas party).

What do you do for fun outside of work?

Our three daughters, their husbands and our four grandchildren all live within 10 minutes of us, so we enjoy spending a great deal of time with all of them at our home in Atlanta or our family retreat at Lake Oconee. I am keenly interested in UGA football, and I enjoy keeping up with the Braves. I also enjoy time outdoors wing shooting, fly fishing and playing golf. Last, but not least, no week would be complete for me without a few trips to Bones to stay connected with good friends, including Isabel and her great team there.

How do you help Georgia’s Community Banks?

The tag line we use in communications from our community bank practice S e p t e m b e r / Oc t ob e r 2 0 2 0 | G e or g i a C o m m un i ti es F i rs t | 19

90 YEARS: ONE MISSION. COMMUNITY BANKS.ÂŽ ICBA is the only organization that exclusively represents the interests of community banks through effective advocacy, best-in-class education, and constant innovation.

Shape the destiny of community banking.

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www.icba.org | info@icba.org | 866-843-4222

SPOTLIGHT

Meet CBA’s ATDC/FinTech Committee Chair:

Chris Stanley

Chris Stanley Senior Vice President Atlantic Capital Bank, Atlanta CBA ATDC FinTech Committee Chair

With 11 standing committees, CBA offers member community banks a way to strengthen their association first-hand. The Committee Chair, along with committee members provide valuable feedback and guidance on the needs, challenges and opportunities of Georgia’s community banks.

In this issue, we are pleased to feature the chair of the CBA’s ATDC FinTech Committee Chris Stanley, Senior Vice President, Atlantic Capital Bank, Atlanta.

CBA invited Chris to participate in a Q&A so you can learn about his bank, how his role on the committee helps other CBA members, and more.

How long have you been in banking?

I started in finance 17 years ago and a couple of years later transitioned into banking. In that role, I worked exclusively with technology companies throughout the southeast, primarily providing growth capital solutions tailored for business model and company stage. Having built a strong network and curiosity, I then took a 5 year hiatus from banking and went to the company side, working with early and growth stage companies in a variety of finance and operations roles. I was introduced to Atlantic Capital in 2017 and based on each of our recent respective experiences, we quickly determined there was a real opportunity to leverage our existing payments expertise and build a line of business that works exclusively with FinTech companies to support their unique banking needs.

What makes your bank different?

At Atlantic Capital our mission is to fuel the prosperity of our clients, and that mission is especially critical now. We are a team of industry experts that prioritize high-touch client service, reliability and creativity. Our founders set out to build an institution with “big bank” capabilities while preserving the quality service and relationships more typical of community banks. The result is that we have the operational horsepower to work with companies of all sizes and do so in tech hubs such as Atlanta, San Francisco, L.A., Denver, Austin and NYC. How does the Member Services Committee help CBA members?

ATDC is one of the country’s premier technology accelerators borne of one of the country’s leading engineering schools, Georgia Tech. ATDC has worked with hundreds of tech companies across all market segments, to help increase their odds of success. ATDC companies, in aggregate, have raised over $1B since its founding, with many resulting in wellknown success stories. ATDC also has a specialty in working with FinTech companies, particularly given that Atlanta is a payments hub, known as “transaction alley”. With this type of expertise and the multitude of quality FinTech companies in Atlanta, it is only logical that we bring these two communities together in order to grow our ecosystem and demonstrate Georgia’s ability to support this fast-growing market.

Tell us about your hobbies or interests outside of work: When you are doing something you truly enjoy, work/life harmony often blend, so I do spend a lot of social time with many friends here in the tech community. But outside of that, pretty much every other moment is spent with our four children in our Sandy Springs home. And once in a while I’m able to sneak away on a hunting, fishing or hiking trip. While this current pandemic has been challenging in so many ways, and for so many folks around the country, I try to enjoy this unique time we all have together.

If you are interested in serving on CBA’s ATDC/FinTech Committee, please contact Lindsay Greene.

Are you taking advantage of CBA’s Digital and Online Interactive Directory?

Access CBA’s 2020 Georgia Financial Directory anytime/anywhere. The directory contains information on banks, holding companies, Preferred Service Providers, Associate Members and more. Anyone in your bank or business can access!

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What’s Your Marketing Strategy for a Strong and Profitable 4th Quarter? CBA can help.

Advertising | Targeted Audience | Marketing | Get Connected Contact Lindsay Greene for more information.

GET IN TOUCH TO LEARN MORE

TRENDS

Solutions for Success:

Ownership, Structure and Advocacy The Solutions for Success is an interview with long-time CBA partner SHAZAM. We sat down with Alex Jernigan, Regional Director of Sales to learn more about how SHAZAM helps Georgia’s community banks.

SHAZAM is CBA of Georgia’s preferred service provider for debit, ATM network and processing. Is that all SHAZAM does?

We’re the nation’s only independent debit network, processor and core provider serving community banks. ATMs and debit cards are where SHAZAM made its name, in fact, we pioneered the PIN-debit point-of-sale used world-wide today! But over the years we’ve also grown into a company that serves the needs of its partners.

We have a core that emphasizes a best of breed approach. If you like a solution and it’s good for your bank, our core won’t charge you an arm and a leg to use it.

What makes SHAZAM different?

There are three ways SHAZAM’s very different: • Ownership: SHAZAM’s owned by our clients who can apply to become members, and most do. Our members then have a vote and voice in the direction of our company.

• Structure: We’re structured as a nonprofit corporation. Since we don’t answer to shareholders, we can reinvest those dollars in new technology while keeping costs down to benefit our clients.

• Advocacy: SHAZAM’s member owned structure means we advocate for community bank’s voice in the payments system.

We represent you in the payments industry, on capitol hill, at regulatory agencies like the FTC and the Fed, on national payments boards, and through other committees where it’s important your voice is heard.

What is your pricing philosophy?

SHAZAM’s structure means we can offer lower prices because we’re not chasing wall street shareholder expectations. We don’t have automatic increases every year or hidden fees that eat away at your profitability. We work to make sure we don’t pass along fees for standard industry upgrades like EMV cards.

This difference saves our clients tens of thousands of dollars over the life of an agreement.

I’ve heard your service sets you apart. Is that true?

Just like the community banks we serve, personal, long-term relationships are in our DNA. No matter your size, you’ll see me consistently as I provide insights into the profitability of your debit program. You’ll also have regular access to SHAZAM executives who are nationally recognized experts.

SHAZAM’s 24/7, US based Client Support will answer your call in 20 seconds or less and get answers to your issues within 24 hours. Maybe most importantly, our systems are up and running 99.994% of the time so your cardholders won’t be frustrated by unnecessary declines.

How do you approach your relationships with Georgia bankers?

I’ve been in or around the banking industry in Georgia all my professional life. I started as a banker and now enjoy helping community banks find solutions to run them. It’s a family affair for me as my wife is also a Georgia community banker.

I appreciate and enjoy the relationships I’ve been able to cultivate over the years and like the fact I can bring products to aid in the success of Georgia community banks and their customers.

Alex Jernigan

Regional Drector of Sales SHAZAM

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PROFESSIONAL DEVELOPMENT

It’s Time for CBA’s 52nd Annual Convention!

The long-awaited Annual Convention, Directors’ College and Mini-Trade Show is here! Registrations continue to roll in for this exciting program. Whether you are attending in person or virtually, it’s not too late to register.

CBA conventions are known for finding the right mix of high-quality professional development programming with a fun and comfortable environment. This year, perhaps more than ever before, we believe it is important to come together as Georgia’s community bankers and share our knowledge, experiences and friendship with each other.

KEYNOTE SPEAKER

The agenda offers something for everyone – motivational keynote speakers, a Director’s College, networking at the Thursday night fundraising party, learning about new products and services, numerous break-out sessions, and the Chairman’s Dinner and Banking on the Future Celebration.

KEYNOTE SPEAKER

David Salyers

David Salyers was one of the original two marketing executives at Chickfil-A. He spent 37 years in the Chick-fil-A Marketing Department and most recently served as a Vice President before his recent retirement. Having worked at Chick-fil-A his entire career, he saw the principles of servant leadership and compassion play out in the growth of more than 2,300 Chick-fil-A restaurants around the country. Chickfil-A, one of America’s most successful, powerful and beloved brands, is a multi-billion dollar company built almost entirely on culture. David has invested his entire career working in and helping to build a culture only to be described as remarkable.

REGISTER

Lifting up our communities is what we do every day and this year’s convention will provide each of us with the opportunity to do the same for one another.

HOTEL INFO

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Pete Smith Dare to Matter: Shake, Rattle, and Roll Your Way to Significance

Pete Smith is an international speaker and coach in the fields of leadership, management, personal growth and development. His energetic, edgy, and interactive style is complimented by his ability to provide practical takeaways that actually work, while having a little fun in the process.

DIRECTOR’S COLLEGE

SILENT AUCTION

PROFESSIONAL DEVELOPMENT

Other Speakers/Sessions You Won’t Want to Miss:

• Advocacy - Aaron Stetter, ICBA • Conversation with Regulators • Economic Update - Craig Dismuke, Vinings Sparks • Dawn Breaker's Session: Affordable Housing Programs and CRA Best Practices--Art Fleming—FHLB, Atlanta • CBA’s popular Mini-Trade Show featuring the best of class in products and services

BREAKOUT SESSIONS: • Leadership Communication During a Pandemic: Patrick Dix, SHAZAM • Creative Positive Story, Get Ahead of Negative: Blair Logan, Williams Mill Agency

• Strategic Planning for Community Banks: John Sillay, Of Counsel, Adams, Hemmingway, Wilson & Rutledge, LLC • Essentials of Modern Marketing Strategies: Chris Bates, Agora Eversole

Plus Saturday Night … End the convention with Saturday Night Chairman’s Reception, Banquet, Entertainment and a Signature Cocktail!

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PROFESSIONAL DEVELOPMENT

BANK DIRECTORS COLLEGE WILL BE HELD IN THE HILTON SANDESTIN AT BANK TO THE FUTURE! NEW VIRTUAL STREAM OPTION!

Bank Secrecy Act, Anti-Money Laundering for Community Bank Boards

Modern Investment Management – What is the director’s role?

Dianne Barton, President Performance Solutions, Inc.

Jim Reber, President/CEO, ICBA Securities

Director Duties, Responsibilities, Risks & Liabilities with Covid-19

Roundtables

Philip Smith, Partner, Gerrish Smith Tuck PC Greyson E. Tuck, Attorney & Consultant, Gerrish Smith Tuck PC

John W. Sillay, Adams, Hemingway, Wilson & Rutledge, LLC

REGISTER HERE FOR THE DIRECTOR’S COLLEGE REGISTER FOR BOTH THE CONVENTION & DIRECTOR’S COLLEGE CLICK HERE FOR FULL DIRECTOR’S COLLEGE AGENDA

PROFESSIONAL DEVELOPMENT

THANK YOU TO OUR PREFERRED SERVICE PROVIDERS

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THANK YOU TO OUR SPONSORS INDIVIDUAL EVENT SPONSORS

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Chairman’s Reception & Banquet Co-Sponsors

Thursday Night Hosted Bar Co-Sponsors GENESYS TECHNOLOGY GROUP

Bonfire Sponsor Convention WiFi – Fri/Sat

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BRONZE SPONSORS

Daily Costume Prizes

Financial Institutions Group

Thursday Night Desserts and Coffee, 60 Second Video

Friday Deli Lunch

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Mini-Trade Show Cash Drawing, Convention T-shirts & Charging Station

Convention App & Introducing Pete Smith

GENERAL SPONSOR Friday Video Message Saturday Entertainment Co-Sponsor

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Photo Booth

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90 Second Demo: Saturday Introduce David Salyers Saturday Entertainment Co-Sponsor

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THANK YOU TO OUR EXHIBITORS!

ACG • ATM Response • CashTrans CBIZ • Consultants & Builders, Inc. Crescent Mortgage • DeNyse EconoCheck • FITECH • Genesys Haberfeld • Holtmeyer & Monson ICBA Securities • Kasasa Point to Point • Progressive Communications • Promontory Interfinancial • QwickRate SBA Works • SHAZAM • Southern Bank Equipment & ATMs STS Group • Secureworks VSoft Corporation Warren Averett

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PROFESSIONAL DEVELOPMENT

Education Buzz

Success through Change Management We are creating a path forward, by offering necessary, ongoing learning for our community bankers by providing ongoing professional development. With the ever changing state of how we participate in learning, your CBA of GA team is not only enhancing learning curriculum, we are also providing safe learning options. In order to make this transformation happen, we must have an effective internal change management process. Have you considered how your bank manages change? We believe we can support our members by providing a new program offering to create a blazing trail for effective change management. Join us on November 5, for an interactive workshop on change management. More details will be emailed soon.

Kristi Greer

Senior Vice President Director of Professional Developent Community Bankers Association of Georgia

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PROFESSIONAL DEVELOPMENT

ACAMS Accredited!

Continuing Professional Education Accredited by ACAMS CBA of GA’s 13th annual Advanced BSA/AML school was held on St. Simons Island August 24-28, 2020.

We had sixty participants engaged in-person and virtually as we held our school using a new ‘hybrid’ technology. Being able to offer education to our bankers using this technology is allowing us to meet you where you are. We provided a safe environment for learning and for health reasons. As we celebrated the 50th anniversary of the Bank Secrecy Act, participants received many ‘golden nuggets’ from the knowledge delivered by eight subject matter experts who are passionate about their careers.

Participants gained new, advanced insight on many topics such as updates from the FFIEC manual, model & data validation, cannabis banking and the role of the department of agriculture, risks, regulatory updates, and more. We also had the chance to interact with fellow bankers from across the state through-out the week as they dug into their own bank policies and procedures to determine how you can maximize the knowledge gained to continue making improvements in their plans. It was timely

to cover Human trafficking on Friday morning as the state celebrated finding 40 missing children and arrested nine individuals because of sex trafficking. ​ We are grateful for our bankers, associate members, preferred service providers and Dianne Barton who led the way for continued learning and ongoing BSA success. Dianne shared, “What a successful week at our CBA Advanced BSA/AML School! Each day was packed full of current BSA/AML pulse points, guest speakers, “real world” tools to improve and enhance the banks’ BSA Compliance Programs, and numerous golden nuggets. And there were so many firsts this year: 1) Social distancing, 2) Celebrating 50 years of the Bank Secrecy Act 3) In-person as well as virtual attendance 4) Focused banker questions for the regulators as well as fellow attendees 5) the first ever ACAMS certification for the School! 6) In addition, in combined general sessions and breakout sessions the virtual team and the in-person bankers focused on common challenges and solutions. Thank you Community Bankers for another fantastic School!”

SAVE THE DATE – 14th Annual Advanced BSA/AML School will be August 23-27, 2021 at The King & Prince Resort.

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Effectively Manage Change November 5, 2020 Banking Cannabis Customers November 6, 2020 BSA Bootcamp December 15-17, 2020 Stay on top of CBA’s Professional Development programs, Click here for the calendar.

Considering BOLI for your bank?

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Already have BOLI/Benefits?

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BFS Group, a leading expert in the BOLI industry, is a national firm with an exclusive focus on community banks. BFS Group supports the management of all BOLI portfolios with the primary goal of providing unparalleled customer support, increasing the bank’s bottom line, increasing shareholder value and funding meaningful benefits for all bank employees.

BFS Group is directly appointed by all major BOLI carriers which enables us to design BOLI portfolios that can be tailored to the bank’s specific goals and objectives. We are also endorsed by the CBA of Georgia, as well as many other state and national banking associations throughout the country.

John Gianacaci Regional Managing Director (609) 915-9168 jgianacaci@bfsgroup.com

Already have BOLI? Request a free, independent BOLI audit from BFS Group.

PROFESSIONAL DEVELOPMENT

The Smiling Face on the other end of the Phone!

Meet CBA’s Connie Shepard Being able to connect with people is a true gift and CBA’s Connie Shepard has that gift. With an infectious laugh and a smile that lights up the room, Connie, who is Assistant Vice President, Professional Development and Member Engagement at CBA, sets aside time each day to connect with bankers.

“When I call a bank, my first goal is to see how the bank is doing through the pandemic and to let them know that CBA is here to serve. I have been amazed how everyone has pulled together and made it all work for their bank during this pandemic,” Connie explained. “ The best part of my job is getting to know our bankers. Even though everyone is pressed for time everyone I have talked to is gracious and grants me some of that time. I have learned so much.”

Connie enjoys feedback and suggestions from bankers, many which have resulted in new program offerings.

“I have learned about training needs that we can help the bank by bringing it in house. We want our bankers to know and think CBA First- it is their association and we are here to serve our bankers and banks. I love where I work and our CBA Team!”

Connie has been at CBA for five years in November. She has twin daughters and a son-in-law who make her very proud. She’s a dog lover who has two Great Danes.

“Connie exemplifies the member-first attitude needed to success in the community bank association industry. She is driven to serve CBA’s member banks and will not stop until she provides a member with the requested information or resource they need,” stated John McNair, President & CEO of CBA. “I am grateful to have Connie as part of the CBA team!”

If you have a training need or a question about a CBA Professional Development program, please give Connie a call at 770-541-4490.

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TRENDS

Kickoff!

Jim Reber

A football fan’s guide to portfolio management As the calendar turns to the fall, millions of Americans gear up for their favorite sport of football. Of course, with this being a year unlike any other, we’re still trying to figure out what it will look like. Nonetheless, what better way to usher in the new football season than to relate common gridiron phraseology to its investment portfolio equivalent? Some of this may sound like a stretch for the sticks, but perhaps you can find a loose ball in the pileup. If so, hopefully you can convert the takeaway into a visit to the sweet land of six.

Weight room Many footballers prepare themselves for the season with frequent trips to the gym. There, they can make good use of barbells. Community bankers often utilize “barbells” to hedge their bets against rate movements. This strategy simply entails buying roughly equal amounts of very short-duration bonds and long-duration bonds. The definitions of “short” and “long” will vary from buyer to buyer, but in the end, the investor is going to be pleased with at least half of the holdings, regardless of whether rates rise or fall.

Run-pass option This recent innovation of play-calling gives the quarterback the ability to decide on the fly whether to run the ball or throw downfield. In a similar sense, investors can do the same with a do-it-yourself floater. Most municipal bonds in community bank portfolios have longer-than-average durations. Often, that is precisely the intention of the portfolio manager, as it may sync with the bank’s interest rate risk posture. However, sometimes the manager decides the portfolio is longer than desired, in which case the DIY is called. This entails the execution of a payfixed interest rate swap to turn the asset into a receive-floating adjustable rate bond.

Lockdown corner The best way to explain this is to lift the definition from Wikipedia: “These elite defenders cover an offensive receiver so effectively on either side of the field that the quarterback does not target the receiver being covered.” To the community banker, this means owning assets that cannot be called away or converted to cash when interest rates are not favorable (e.g., now). The way to lockdown your assets is to buy “bullets,” which have no call features, or securities such as multifamily mortgage-backed securities (MBS) that have prepayment penalties or yield-maintenance provisions.

President & CEO ICBA Securities

Man in motion This entails sending one or more offensive players running parallel to the line of scrimmage prior to the snap to better position them for the play. In investment management, its equivalent is the purchasing of newly issued bonds that have extended original settlement dates, which further coincide with upcoming maturities of bonds currently in the portfolio.

This play has been especially beneficial in recent months, as the amount of maturities and calls have outpaced new issuances, creating something of a scrum among investors.

Nickel back Sometimes a team will insert a fifth defensive back into the lineup on obvious passing downs in order to give it a better chance of covering the potential pass receivers. This “nickel package” appears in balance sheet management in the form of match-funding assets and liabilities. If a community bank strategically adds assets through an acquisition or an outright leverage, thought must be given to balancing the altered interest rate risk. Tools such as Vining Sparks’ Performance Architect can quantify the new dynamics of the balance sheet, including the impact on capital, margins and earnings.

Fourth-quarter rally The third quarter of the calendar year for broker-dealers is often a period of low volume. Some of it has to do with portfolio managers not taking time to identify beneficial portfolio opportunities until the figurative two-minute warning. This year especially there are plenty of good reasons to be distracted.

The bad news is that there are a lot of community bankers who operate in a last-second mode. Late December is rarely a good time to be selling securities; it can, however, be a buyers’ market. Make decisions early—10 minutes to go in the game is still relatively early. Late fourth-quarter comebacks are hard to pull off.

POWER UP YOUR INVESTMENTS ICBA Securities is driven by its commitment to community banks and powered by the many resources and expertise of Vining Sparks.

Institutional investors only. Member FINRA/SIPC.

A FULL SELECTION OF OFFERINGS FOR COMMUNITY BANKS: ICBA SECURITIES

Wholly-Owned ICBA Subsidiary » Comprehensive education platform » Endorsed by 32 state affiliates » Supports advocacy at state and federal levels » Exclusively endorses Vining Sparks » Board of directors comprised of leadership bankers

BALANCE SHEET PRODUCTS

Fixed Income Securities » Top 20 underwriter of U.S. agency debt » Market leader in municipal underwriting and trading Loan Trading Wholesale Funding Interest Rate Products

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MANAGEMENT RESOURCES

Acquisition Advisory Services Mergers Advisory Services Community Bank Advisory Group Valuations Community Bank Capital Formation Bank Investors Analytics

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Proprietary balance sheet and investment portfolio analytics report package powered by The Yield Book®

myPortfolio

Proprietary, online portfolio management system powered by The Yield Book®

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Investment Strategies Group

A pool of experienced professionals to use as a customer resource

Education » Community Banking Matters – Periodic webinars covering timely topics » ICBA Bond Academy – Teaches bond basics » ICBA Balance Sheet Academy – Building high performing balance sheets » Weekly and monthly publications with market overview and portfolio management insights Economic Insight » Quarterly economic outlook webinars Portfolio and Balance Sheet Services » Asset and liability management » Bond accounting

| info@icbasecurities.com | 800-422-6442

Offerings of and transactions in investment securities by Vining Sparks. Member FINRA/SIPC.

TRENDS

Community financial institutions in unique position to help protect older accountholders from financial elder abuse fraud.

Elder financial abuse is tough to combat, in part because it often goes unreported. These crimes involve someone improperly using an older adult’s money or belongings for their personal use, and it can happen to seniors of all social and economic backgrounds. Worst of all, this crime can do irreparable damage to its victims’ finances and may ultimately deprive them of basic needs such as food, medical care or housing.

Scammers target elders perceived to be vulnerable; those isolated, lonely, physically or mentally disabled, those unfamiliar with handling their own finances, or who’ve recently lost a spouse. Scammers often pose as trustworthy helpers. There’s been an uptick of instances of these frauds during the COVID-19 crisis.

We all play a part in protecting our elders, if you suspect financial fraud is happening, report it immediately: • File a suspicious activity report (SAR). The electronic SAR form includes an “elder financial exploitation” category of suspicious activity • Contact the local adult protective services agency for help.

For state reporting numbers, visit the NCEA State Resources site or call the Eldercare Locator at 800-677-1116 • Report all instances of elder financial abuse to local police

Many elderly victims are often too confused, fearful, or embarrassed by the crime to report it. It’s estimated there are at least 5 million cases of this form of elder abuse in the United States each year, but law enforcement or government officials learn of about only 1 in 25 cases. The National Council on Aging estimates the annual cost of elder financial abuse is up to $36.5 billion.

Community financial institutions are in a unique position to help protect their accountholders from financial exploitation. Watch for these signs that may help you, and others, identify and ultimately prevent elder financial abuse: • Unusually large, frequent, or unexplained account withdrawals, uncharacteristic attempts to wire large sums of money, or checks written as “loans” or “gifts” • Changes in account beneficiaries or authorized signers • ATM withdrawals by an older person who’s never used a debit or ATM card • New “best friends” accompanying an older person to your financial institution for withdrawals • Statements no longer going to the accountholder’s home • Suspicious signatures on checks or outright forgery • Sudden nonsufficient funds activity, unpaid bills, eviction notices, or loss of belongings or property • Closing accounts or CDs without regard to penalty • A caretaker, relative or friend who suddenly begins conducting financial transactions on behalf of an elder without proper documentation • Newly executed documents, such as a will or power of attorney, that the older person doesn’t seem to understand

Liz Little

Fraud Consultant Shazam Preferred Service Provider

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LOOKING FOR A WAY TO ATTRACT HIGH-VALUE DEPOSITS? Turn to the nation’s #1 reciprocal deposit services: ICS®, or Insured Cash Sweep®, and CDARS®.

Grow deposits from relationship-based funding that increases franchise value. Use ICS and CDARS to offer access to multi-million-dollar FDIC insurance on funds placed into demand deposit accounts or money market deposit accounts (using ICS) and CDs (using CDARS), and: • Lock in more low-cost funding by attracting large amounts of stable funds from loyal customers • Replace less efficient collateralized deposits and rate-sensitive deposits from listing services • Make more dollars available for local lending Talk to us today! Contact Danny Capitel, Regional Director, at (866) 776-6426 x3476 or dcapitel@promnetwork.com.

Use of the ICS and CDARS services is subject to the terms, conditions, and disclosures set forth in the CDARS-ICS Participating Institution Agreement and applicable Deposit Placement Agreements. Limits apply, and customer eligibility criteria may apply. ICS program withdrawals are limited to six per month when using the ICS savings option. ICS, Insured Cash Sweep, and CDARS are registered service marks of Promontory Interfinancial Network, LLC.

TRENDS

Renewing your Bank’s Insurance in the COVID-19 Era Renewing insurance in today’s market can be more difficult and time-consuming than ever before. The hard market has developed after several years of significant catastrophic losses and now has now been exacerbated by M & A risk, COVID-19 liability and business shut-downs. Business shut-downs have caused underwriters great concern due to the impact on loan portfolios. All of this has led some carriers pull out or pull back from the banking sector. Also, beware of rising premiums, stricter policy provisions, lower limits, changing deductibles and more.

The hardest hit are banks over $500 million in assets and publicly traded institutions. The carriers are looking for a 15% to 30% increase in premiums for this sector. Also, multiyear options are becoming rare. Smaller community banks are generally seeing 3% to 10% increases. One area of good news is that continued stiff competition in the cyber insurance market has limited increases from zero to 5%.

Following are the top ten questions underwriters are asking financial institutions in this mid- and post-COVID environment.

Preparing responses in advance will help put your financial institution in the best position to successfully negotiate your insurance renewal.

KEY FINANCIAL INSTITUTION UNDERWRITER QUESTIONS

1. 2020 financial performance to plan – YTD and projected year-end 2. Capital plans – is there a capital raise in your future?

3. COVID-19 impact on operations – work from home, COVID cases in market, re-opening, furloughs and layoffs

4. Have you strengthened cybersecurity measures to secure remote operations?

5. Industry sector exposure: Oil & gas / energy, transportation, retail trade, hospitality, recreation and education 6. What percentage of total loans were deferred or restructured? What percentage are asking for a 2nd deferral?

7. Bank stress testing – any recent updates and what are the primary assumptions?

8. How many PPP loans did the bank originate? What was the dollar amount?

9. Regarding COVID-19 specifically, what is your communication plan with your shareholders?

10. When was your last regulatory exam? Were there any criticisms?

Answering these questions in a crisp, clear and positive manor will help lead to the best renewal outcome. Your insurance broker should be contacting you at least 60 to 120 days in advance of your policy renewal date to discuss creative solutions to ensure your organization is adequately protected at the most affordable cost. Please reach out to your local risk and insurance professional or feel free to contact Kris St. Martin at 763-549-2267 or kstmartin@cbiz.com.

Kris St. Martin

Bank Program Director CBIZ Insurance Services, Inc. Preferred Service Provider

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CBA’S 2020 PREFERRED SERVICE PROVIDERS DIAMOND LEVEL

Harland Clarke Christine Ahlgren | christine.ahlgren@harlandclarke.com | (678) 500-5330

ICBA Securities Jim Reber | jreber@icbasecurities.com | (901) 762-5884 Independent Community Bankers of America Scott Brown | scott.brown@icba.org | (334) 328-5731

James Bates Brannan Groover LLP Dan Brannan | dbrannan@jamesbatesllp.com | (404) 997-6023 SHAZAM Alex Jernigan | jjernig@Shazam.net | (229) 220-0064 PLATINUM LEVEL

Warren Averett Lisa Small | lisa.small@warrenaverett.com | (770) 393-6151 GOLD LEVEL

ATM Response Tony Webb | twebb@atmresponse.com | (770) 855-2989

BFS Group John Gianacaci | JGianacaci@bfsgroup.com | (609) 915-9168 CBIZ Kris St. Martin | kstmartin@cbiz.com | (763) 549-2267

Crescent Mortgage Skip Willcox | swillcox@crescentmortgage.net | (478) 357-4441 FITECH Matt Mingenback | mmingenback@fitech.com | (316) 518-8850 Genesys Technology Group, LLC David Saylor | david@genesystg.com | (770) 729-4139

Point to Point Environmental Mark Faas | mfaas@p2penvironmental.com | (678) 565-4435 Ext 151 Promontory Interfinancial Network Danny Capitel | dcapitel@promnetwork.com | (770) 630-6796 STS Group Chris Nelson | cnelson@stsgrp.com | (205) 567-3613

Travelers Diana Baker | dcbaker@travelers.com | (678) 317-7882 Wipfli/PKM Mary Boortz | mboortz@wipfli.com | (715) 858- 6677

SILVER LEVEL

ACG Phil Winn | Phil.Winn@acgworld.com | (678) 458-9899​

Eclipse Brand Builders Michael Smith | msmith@eclipsebrandbuilders.com | (678) 890-1140

Executive Insurance Agency, Inc. Ryan Sower | ryan@executiveinsuranceagency.com | (770) 474-2355 Holtmeyer & Monson Arne Monson | amonson@holtandmon.com | (800) 340-7304

Kasasa Ryan Busenitz | Ryan.Busenitz@kasasa.com | (678) 595-0625

QwickRate Melissa Wallace | melissa.wallace@qwickrate.com | (678) 797-4062 BRONZE LEVEL

AgoraEversole Craig Eversole | craig@agoraeversole.com | (601) 366-7370

Bahr Consultants, Inc. Hank Bahr | hank@bahrconsultantsinc.com | (865) 694-6098

Interested in becoming a Preferred Service Provider?

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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MEMBER SERVICES

Order Your Copy of CBA’s 2020 Salary Survey Free for Participating Member Banks!

The 2020 Salary Survey is hot off the press and available for purchase! This year, CBA partnered with Warren Averett to deliver the 2020 Annual Salary Survey. Warren Averett is a SOC 2® certified accounting firm that has taken great strides to increase the value and production of this annual survey. The survey is a compilation of current salaries and general benefits for common positions within Georgia’s community banks and can be a vital tool when determining competitive pay and benefits for employee recruitment and retention.

Items of additional value for this year’s survey include: • Additional HR and Benefits questions to answer the questions that new recruits are asking (PTO, Healthcare, Benefits) • COVID-19 specific questions to address the circumstances that employers are in • Benchmarking data from other sources to supplement how any given position is paid CBA member banks who completed the survey received a complimentary copy of the final report.

Click here to order your copy.

CBA Member Banks not participating in survey - $300 | Non-Member Price - $550.

Contact Lindsay Greene for more information.

Our coverages run the gamut.

At Travelers, we understand that flexible insurance options are important to your future. That’s why we’re committed to solutions that can evolve with the times.

From traditional property and casualty coverages to innovative cyber protection packages, Travelers has the ability to adapt to the changing needs of your financial institution. Today – and tomorrow.

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© 2020 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-9173 Rev 1-20

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