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Contents 2009 Park Street, Post Office Box 1483 Columbia, S.C., 29202-1483 Phone: 803.779.0850; Fax: 803.779.0890 Web: Chairman Robert R. Hill, Jr. South State Bank, Columbia Chairman-Elect R. Thornwell Dunlap, III Countybank, Greenwood First Vice Chairman David L. Morrow CresCom Bank, Charleston Treasurer Samuel L. “Sam” Erwin United Community Bank, Greenville Immediate Past Chairman David M. Lominack TD Bank, N.A., Greenville SCBA Staff President and CEO Fred L. Green, III Execu ve Vice President, CFO/BankPAC Treasurer Donna S. Taylor Senior Vice President, Conven ons/Conferences E. Anne Gillespie Senior Vice President, SCBA Services, Inc./ South Carolina Bankers School Carolyn E. Laffi e

Robert Hill Begins S nt as Chairman of Bankers Associa on, Page 4

Jennifer Jones Named Outstanding Young Banker, Page 11

Chairman’s Message A Look Back at the 2016 Annual Conven on

3 6-7

Half-Century, 35-Year Club Honorees


In Memorium


SCBA Sees Busy 2016 Legisla ve Session


Prize-Linked Accounts, Mandatory ELT Now Law


Community Bankers Council Update


Execu ve News


Bank News


Senior Vice President & Counsel A. O’Neil “Neil” Rashley, Jr., Esq.

Personal Transac ons

Director, Adver sing & IT M. Caroline Sheorn

Charleston Bank Building an Architectural Gem


Administra ve Assistant Bonnie E. Nelson

SCBA Awards $57,000 in Scholarships


Director, Marke ng and Communica ons; Editor, Palme o Banker R. Kevin Dietrich The Palme o Banker is a publica on of the South Carolina Bankers Associa on. The magazine exists to serve its members by communica ng news of interest, educa on and SCBA ac vi es. Items from members are welcome, however the editor reserves the right to refuse copy. With the excep on of official announcements, the SCBA disclaims responsibility for opinions expressed and statements made in ar cles published in the Palme o Banker.


Recapping the 2016 S.C. Bankers School


New Associate Members


SCBA Recognizes New, Old Board Members


Good Samaritans




Cover: New SCBA Chairman and South State Corp. CEO Robert Hill with wife Carol. Photo by SCBA Senior Vice President Carolyn E. Laffi e.

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Chairman’s Message

Outgoing Chairman Reflects On SCBA’s Strong Year


t has been a great personal pleasure to have served as your chairman this year and I thank each of you for this wonderful opportunity. I am proud to say that this has been another great year for our Associa on and I step aside knowing that our board and staff are fully commi ed to ensuring that the SCBA con nues to deliver value to all of our member banks and associate members. Thank you to each of you for what you do every day for our industry in this state. There is a collegiality that exists among our state’s bankers that is rare. I a ribute it to the fact that while we may compete vigorously with one another, we also respect one another. We understand that ul mately our goal is to better the lives of South CarolinLominack ians by doing our jobs to the best of our abili es. I want to thank our board of directors for their support, guidance, and candor this year. I have always admired our ability to create a board that brings a broad and diverse background of experiences which helps ensure that our Associa on con nues to provide the tools, resources, support and training that our banks need no ma er the size. This year was no different. I also want to thank the SCBA staff. As always, you have been a pleasure to work with and I con nue to be amazed at the work you do, behind the scenes in many cases, to ensure the health of our industry both at a state and na onal level. I appreciate very much your professionalism, passion and organiza on. With the collec ve efforts of the board, staff and our member banks, below are some examples of the accomplishments we’ve had this past year: • We con nued to see remarkable growth in the SCBA Educa on

Founda on, begun in 1960. During the past two years we transferred $400,000 out of SCBA reserves to build the restricted funds of the Founda on to more than $900,000. This is money that goes to scholarships for the students of employees of SCBA-member banks. Think of the transfer as a dividend back to member banks. These scholarships have been invaluable to the recipients; In March, we had 30 bankers go to Washington to meet with our Congressional delega on. In addi on to very produc ve mee ngs with our delega on, we were able to get five of our seven S.C. House members to support the Tailor Act by signing onto the Tipton-Sco Tailored Regula on le er. This represented a much higher propor on of House members than was seen on the whole across the na on; During the same Washington trip and on behalf of the SCBA, I had the privilege of introducing Sen. Tim Sco , the keynote speaker during the ABA’s Government Rela ons Summit, to more than 1,000 a endees; We have had several emerging leaders join us on our Washington trip in recent years. To further bolster younger bankers’ understanding of what goes on in our na on’s capital, we’ve decided to dedicate scholarships to four bankers each year in an effort to help defray some of the costs associated with the trip; A conflict between federal guidelines and state law on real estate appraisals was cleared up, with the la er being changed to provide an excep on for bank employees; Also during this past session, the SCBA worked for and was successful in ge ng the General Assembly to pass legisla on enabling South Carolina banks to offer prize-linked savings accounts, giving ins tuons another means to a ract core

deposits and incen vize savings; Thanks in part to the efforts of the SCBA and SCBA member banks, the Consumer Financial Protec on Bureau recently opted to ease some of its restric ons on mortgage lending; The SCBA’s Legisla ve Recep on proved a success once again, with some 400 bankers, associate members, elected officials and friends a ending the annual event; Our market share of member banks remains near an all- me high – at more than 99 percent of S.C. deposits; Associate members, important to

There is a collegiality that exists among our state’s bankers that is rare. While we may compete vigorously with one another, we also respect one another. our banks and our Associa on, also grew to an all- me high this past year; and • We’ve been busy with educaonal seminars, conferences and workshops. We had 26 events throughout the year. The 1,700-plus individuals who a ended these events underscores the quality of the speakers and relevance of the topics. These are just a few of the highlights from a very produc ve and exci ng year for our associa on. I would like to wish our new chair, Robert Hill, great success and I stand ready to support him and our associa on in any way that I can as I know all of you do as well. Thank you again for the confidence you placed in me and for the opportunity to serve as your chair. (David M. Lominack is the immediate past-chairman of the South Carolina Bankers Associa on.) 3

Cover Story

South State’s Hill Begins Tenure as SCBA Chairman Kevin Dietrich Palme o Banker Editor

tered in the Sunshine State. Hill liked Barne ’s approach and Barne liked Hill; the company offered him a posi on obert Hill, head of South Caroin either Orlando or Port St. Lucie. lina’s largest state-based bankHow close did Hill come to taking a ing company and the incoming course that would have almost certainly chairman of the South Carolina Bankers led him in a drama cally different direcAssocia on, occasionally ponders how on? easily his life could have taken a very Not only had he accepted a job with different path. Barne , Hill had already traveled to A er gradua ng from The Citadel in Florida and picked out an apartment. the late 1980s, Hill interviewed for a A er arriving back in South Carolina but posi on with several banks. The Irmo before star ng with Barne , however, he received a call from Wachovia. The North Carolina banking giant, noted for being decidedly deliberate in just about everything it did, including making hiring decisions, contacted Hill with a job offer. With a girlfriend a ending college in South Carolina and Wachovia’s venerable reputa on to consider, Hill ul mately opted for a posi on with the la er. He would not only eventually marry his girlfriend, but began to make contacts at Wachovia that would provide important connecons and lead him to other opportuni es, specifically posi ons at Rock Robert Hill, inside the corporate offices of South State Bank in Hill Na onal Bank and later at what Columbia. would become na ve was par cularly impressed with South State Bank. a Florida company, Barne Bank, then “I’ve thought about what might have a 110-year-old financial ins tu on and happened if I’d chosen to go with Barne ,” he said. “They were a good the largest commercial bank headquar-



company and I really liked their style, but they ended up being acquired by Na onsBank in the 1990s, so it’s likely my career would have developed differently. I might have ended up joining a startup a er Barne was sold, and a lot of Florida startups didn’t make it through the Great Recession. “I certainly wouldn’t have met the great bankers or received the invaluable experience that I acquired by staying closer to home,” he added. Hill’s contacts and knowledge not only helped him rise rapidly – eventually enabling him to become the CEO of a publicly traded bank company by age 38 – but allowed him to learn the ins and outs of the industry swi ly while under the direc on of very capable bankers. “I have been fortunate to have had many mentors throughout my career. This industry is full of people who have bent over backwards to help me along the way,” he said. “What I learned from these mentors was less about the technical side of banking and more about leadership.” Today, Hill, 49, is chief execu ve officer of South State Corp., the Columbiabased parent of South State Bank. He took over as 116th chairman of the SCBA on July 1, succeeding David Lominack, South Carolina market president for TD Bank. “Robert will be a great chairman of the SCBA because of his knowledge and understanding in working through many of the issues facing the industry,” said Fred Green, president and chief execu ve officer of the South Carolina Bankers Associa on. “He’s accomplished great things at South State and his company is a real credit to South Carolina.” Rapid Ascent It was apparent even at the outset of Hill’s banking career that he was anything but ordinary. John Pollok, who is chief financial officer and chief operating officer of South State Corp., began teller school with Hill at Wachovia on the same day in 1988.

“My first impression of Robert was that he had it all together,” Pollok recalled. “Here I was trying to save money to buy a boat and Robert was already buying stock. I was thinking short term and he was already thinking long term.” Pollok said one of the things that sets Hill apart from many bankers is that he’s always thinking ahead, constantly setng goals and looking forward. In addi on, Hill isn’t above pitching in, no ma er what the task. “Many people in his posi on give lots of orders but aren’t willing to wade in and get their hands dirty,” Pollok said. “Robert is willing to work and get things done. He’s a worker in addi on to being a thinker.” Hill joined South State in 1995, when it was First Na onal Bank and s ll headquartered in Orangeburg, where it was founded during the Great Depression. He became CEO and president of South State Corp in 2004; previously Hill had served as president and chief opera ng officer of subsidiary South State Bank from 1999 through 2004. Robert Horger, chairman of South State since 1998 and a company director since 1991, said he had “absolutely no reserva ons” about hiring Hill to lead the publicly traded company in 2004, even though Hill was s ll in his 30s. “Robert had already been a very integral part in the running of the company,” Horger said. “You learn to recognize people with leadership and ability, so I had no qualms or ques ons when it came to him. I knew Robert Hill was the man to lead the company.” When Hill started as CEO, South State Corp. had approximately $1.4 billion in assets, just over 500 employees and 33 offices, all in South Carolina. Today, the company is considerably larger. A er the recently announced acquisi on of Augusta, Ga.-based Southeastern Bank Financial Corp. is completed, South State will push past the $10-billion asset mark, have nearly 2,400 employees and 133 offices, spread among South Carolina, North

‘My first impression of Robert was that he had it all together. Here I was trying to save money to buy a boat and Robert was already buying stock. I was thinking short term and he was already thinking long term.’ –John Pollok CFO, COO South State Corp. Carolina and Georgia. Over the past 12 years, South State has made nine acquisi ons: five in South Carolina, three in Georgia and one in North Carolina. In addi on, the Southeastern deal should close in early 2017. South State underwent cri cal growth during the Great Recession, when many banks across the na on were struggling to simply stay afloat. Three of the company’s purchases were done through FDIC assistance, with South State acquiring troubled ins tu ons. The benefits accrued from the 2010 Robert R. Hill Jr. Title: Chief Execu ve Officer, South State Corp. Hometown: Irmo. Age: 49. Educa on: Bachelor’s Degree, The Citadel; MBA, Moore School of Business, University of South Carolina. Family: Wife, Carol; sons Grayson and Haynes. Community Involvement: Serves or has seved on several boards. Currently serves on the board of the Federal Reserve Bank of Richmond and the University of South Carolina Development Founda on.

and 2011 deals specifically for Community Bank & Trust and Habersham Bank, both Georgia ins tu ons, gave South State the buying power it needed to pull off the largest bank merger in Palme o State history, when, in 2013, it purchased Charleston’s First Financial Holdings Inc. That deal increased South State’s assets from $5 billion to $8.3 billion, making it the largest bank company based in the state and the second-largest in South Carolina history. Today, on the cusp of breaking through the $10-billion asset mark, Hill is fully cognizant of how he arrived at where he is today. “One of the cri cal aspects of my career was moving to Rock Hill Na onal Bank in 1991,” he said. “It had been a troubled ins tu on, struggling with bad loans, and the team I was part of went in there and, through a lot of hard work, turned things around.” Hill learned a great deal while in Rock Hill, knowhow that helped him keep South State from avoiding the pi alls that hit other banks during the Great Recession. Having been through the downturn of the early 1990s, Hill and the other bankers at South State, some of whom had been with him at Rock Hill Na onal, were prepared when the banking industry fell on hard mes beginning in 2007. “Early in his career, Robert was part of the management team of a turnaround and he had the benefit of learning from others’ mistakes, and he vowed not to repeat them,” Green said. If there was an upside to the Great Recession it was that bankers learned that despite the best inten ons of those who try to control the economy, downturns are inevitable, and that it’s essen al to keep focused on soundness first and foremost, followed by profitability and then growth. Bankers who put growth or profitability before soundness o en learn the error of their ways a er it’s too late, Hill said. See Hill, page 29 5

SCBA Annual Conven on

More than 435 Turn Out for 2016 Annual Convention More than 435 bankers, associate members, family and friends a ended the 2016 SCBA Annual Conven on, held June 12-15 at Kiawah Island. The 116th annual conven on, held at The Sanctuary, featured gorgeous weather, a strong lineup of speakers and the usual excellent accommoda ons. “For more than 115 years the SCBA has gathered annually and each year our conven on seems to get be er and better,” said Bankers Associa on President and CEO Fred Green. Speakers at this year’s event included

ABA Vice Chairman Ken Burgess, Beata Caranci, chief economist and vice president for TD Bank, Col. Arthur Athens, the director of the U.S. Naval Academy’s Stockdale Center for Ethical Leadership, and Columbia’s Amos Disasa, organizer of Downtown Church. There were more than 30 exhibitors at the conference, an increase over last year’s strong showing. The grand prize, a two-day, two-night return stay at The Sanctuary, was won by Lore a West, the wife of Bill West of Community First Bank of Walhalla.

From top le , clockwise: incoming SCBA Chairman and South State Corp. CEO Robert Hill; a endees kick up their heels to the sounds of the Coconut Groove Band; Tommy Johnson of Ci zens Building and Loan and wife Martha; John Griggs, NBSC, a division of Synovus Bank, Sara Fisher, South Carolina Student Loan Corp., and Fred Green, SCBA president and CEO. Lower le : Paul Dusenbury, VistaBank, and Kim Wilkerson, Bank of America, a er receiving recogni on for 35 years in banking. Middle: 2016-17 SCBA officers being installed, from le , Chairman Robert Hill, South State Corp., Chairman-elect Thornwell Dunlap, Countybank; First Vice Chairman David Morrow, CresCom Bank; and Treasurer Sam Erwin, United Community Bank. 6

The annual golf tournament, held at The Ocean Course, was won by the foursome of Mike Carlton, David Johnson, Sco Sharp and Rob Wainsco . Longest drive went to Sco Bacue; closest to the pin on hole No. 8 was captured by Wes Caudell; and closest to the pin on hole No. 17 went to Joey Bos ck. The Tennis Tournament winners were Sally and Art Seaver, and John Jennings and Skip Willcox. The 2017 Annual Conven on will be June 8-11 at the Ritz-Carlton Naples, on Florida’s Gulf Coast.

SCBA Annual Conven on

From top le , clockwise: Tom Anderson and Debbie Bordeau of the MUSC Hollings Cancer Center with David Morrow of CresCom Bank, alongside a $3,000 check presented by chairman David Lominack on behalf of the SCBA; SCBA Chairman David Lominack with wife Courtney and children Henry, James and Lynne; Beach Olympians take a break; United Community Bank’s Sam Erwin and wife Meg; ABA Vice Chairman Ken Burgess and wife Cathy, Mary Green and SCBA President and CEO Fred Green, Courtney and SCBA Chairman David Lominack. Bo om: Susan and Jeff Lawrimore, Frances Garber and Julie Welch, all of Kingstree Federal; Bill West, Community First Bank, and Bill Barker, Oconee Federal Savings & Loan; South Atlan c Bank’s Wayne Wicker and wife Mary; Mason Garre , GrandSouth Bank, being presented with an award for 50 years in banking by John Poole, Carolina Alliance Bank. Middle: Youngster preps for Beach Olympics ac on. 7

SCBA Annual Conven on

SCBA Recognizes Half-Century, 35-Year Club Honorees The South Carolina Bankers Associa on paid tribute during the 2016 Annual Conven on to those individuals who have served the banking industry for 35 and 50 years.

More than four dozens individuals were honored for 35 years in banking, while three individuals were recognized for a half century of service to our industry. They are:

The Half Century Club Gloria Bell, Teller, First Community Bank, Lexington Mason Y. Garre , Chairman of the Board, GrandSouth Bank, Greenville Montague T. Laffi e, Vice Chairman, Palme o State Bank, Blu on

The 35-Year Club Ann K. Baker, Branch Manager, The Bank of South Carolina, Charleston Sherri Batson, Financial Sales Manager/AVP, First Ci zens Bank, Greenville Sam Baxter, Regional Execu ve, NBSC, a division of Synovus Bank, Columbia Henry P. “Mu ” Bozard, Board Member, Bank of Clarendon, Manning Jill Brasington, Vice President, Bank of America, Columbia Lori K. Campbell, FSR III, South State Bank, Simpsonville Martha E. Duncan, Head Teller, Palme o State Bank, Hampton Paul Dusenbury, President/CEO, VistaBank, Aiken Debbie Estes, Vice President, Security and Facili es Officer, First Community Bank, Lexington Sarah Faulk, Community Banking Branch Banker IV, BB&T, Li le River Freda Gore, Bank Facili es Manager, CresCom Bank, Charleston Sheila Grant, Vice President, Mutual Savings Bank, Hartsville Doris Hendricks, Opera ons, Greer State Bank, Greer Wendy Hopkins, Assistant Vice President, Bank of America, Columbia Donald Hulon, Vice President, Bank of America, Columbia Denice O. Jones, IRA Manager, South State Bank, Charleston Charles Kirby, CEO/President, Congaree State Bank, Cayce Lorraine Kra , Vice President, Bank of America, Myrtle Beach Pamela Lemere, Vice President & Main Office Manager, Blue Ridge Bank, Walhalla Brenda Lindblad, Vice President, Palme o State Bank, Blu on Kim Love, Vice President, BB&T, Myrtle Beach Eileen Lynn, Senior Opera ons Representa ve, Bank of America, Columbia Jewel McClaim, Assistant Vice President, Bank of America, Columbia Sandra Morrow, Senior Teller, BB&T, Greer Lauren Murphy, Senior Vice President, Pickens Savings and Loan, Pickens 8

Steve Nivens, Chief Business Development Officer, Congaree State Bank, Cayce David Proctor, Execu ve Vice President, Chief Risk Officer, First Community Bank, Lexington Ed Rachwal, Senior Vice President, BB&T, Columbia Sheryl Sherry, Execu ve Vice President, The Bank of South Carolina, Charleston Patricia Stacy, Mortgage Loan Officer, CresCom Bank, Charleston Gail H. Stone, Customer Service, Palme o State Bank, Hampton Valerie Stone, Vice President/Branch Manager, The Bank of South Carolina, Charleston Terry Strawn, Senior Vice President/Loan Officer, The Bank of South Carolina, Charleston Gayle Strong, Corporate Secretary/Loan Administra on, Kingstree Federal Savings & Loan, Kingstree Rhonda Turner, Vice President, Ci zens Building and Loan, Greer Angela Tyler, Client Service Representa ve, Bank of America, Aiken Janis C. Underwood, Call Center Rep I, South State Bank, Cornelia, Ga. Audrey T. Varn, President, Security Federal Trust Division, W. Columbia Judy Werrell, Senior Vice President, Bank of America, Charleston Kim Wilkerson, South Carolina President, Bank of America, Columbia Mary Williams, Banking Officer, BB&T, Greenville Michelle Willis, Vice President, Bank of Travelers Rest, Travelers Rest Belinza Wilson, Customer Service Representa ve and Office Manager, The Ci zens Bank, Lynchburg Earlene Wrice, Sales & Service Representa ve, First Ci zens Bank, Clemson Susan B. Yarborough, Aiken County EVP, Southern Bank and Trust, a division of Georgia Bank and Trust, Aiken

SCBA Annual Conven on

Taking Time to Remember Those Who have Passed On Each year a endees at the SCBA Annual Conven on take me to remember members of the banking community who have passed away recently. One of the ways we do this is with the Silver Loving Cup, displayed during the conven on. The April 2016 Carnie Paris Hipp, Jr., Senior Vice President-Personnel Director, First Ci zens Bank, Columbia James Stephen Rush, Senior Vice President, Carolina Alliance Bank, Spartanburg March 2016 David C. Lewis, Director, Abbeville First Bank, Abbeville February 2016 Patricia Patrick, Assistant Vice President, Anderson Brothers Bank, Kingstree January 2016 Byron E. Burns, Director Emeritus, Woodruff Federal Savings and Loan, Woodruff George L. Coleman, Jr., Director Emeritus, Bank of Travelers Rest, Travelers Rest

Cup, filled with white roses, is placed on the Speaker’s table in memory of those who have passed on. A short presentaon during the conven on iden fied recently departed bankers. Below is a list of those remembered:

In Memoriam

Joseph T. Stukes, Director, Bank of Clarendon, Manning December 2015 Edgar A. “Eddie” Buck, Sr., Director, NBSC, a division of Synovus Bank, Charleston Henry S. Laffi e, Execu ve Vice President, Palme o State Bank, Allendale John Henry Heinshon, Jr., Past Chairman-Community Financial Ins tu ons of South Carolina, South Carolina Federal Savings & Loan, Charleston November 2015 James C. “Jim” Leven s, Chairman of the Board Emeritus, First Community Bank, Lexington Martha Robinson, Branch Opera ons Manager, First Ci zens Bank, Columbia Paul Wakim, VP of Consumer Loans, First Federal of Charleston, Charleston

October 2015 Anthony G. “Tony” Woodall, AVP Network Security Engineer, South State Bank, Cornelia, GA August 2015 Robert Johnson, Assistant Vice President, Anderson Brothers Bank, Florence May 2015 Samuel Corley, Director, Congaree State Bank, Cayce Katherine Yocum, Mortgage Loan Service Specialist, First Ci zens Bank, Columbia April 2015 Rick Fulmer, S.C. Principal, First Ci zens Securi es, Columbia Marilyn C. Shokes, Vice President and Corporate Secretary, First Federal of Charleston, Charleston

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Five SC Banks Recognized for Excellent Participation with BDC and CDC Five South Carolina banks were recognized during the 2016 annual meetings of BDC and CDC for their excellent participation in 2015. BDC Awards » First Citizens Bank – Greatest # of Loans Approved in 2015 » South State Bank – Top Lender Award » Palmetto State Bank – Top Lender Award CDC Awards » First Community Bank – Greatest # of Loans Approved in 2015 » South State Bank – Top Lender Award » Wells Fargo Bank – Top Lender Award

SC CAP Award » First Citizens Bank – Top Participating Lender Award SC SSBCI Loan Participation Award » First Community Bank – Top Participating Lender Award

Barry Stogner, First Citizens Bank

Charles A. Laffitte, Jr., Palmetto State Bank

Holt Chetwood, Wells Fargo Bank

Michael Crapps, First Community Bank

Hobson Busby, South State Bank

Phillip McCorkle, South State Bank (Awards presented by Edwin Lesley, President and CEO, BDC.)

BDC partners with banks to bring small businesses the most innovative lending solutions. To learn more about how your bank can partner with BDC, give us a call today at 803.798.4064 or visit us online at

SCBA Annual Conven on

Jones Named 2016 SCBA Outstanding Young Banker Jennifer T. Jones, execu ve ing company, which involved vice president for Greer-based sa sfying a host of regulators, Ci zens Building and Loan, was including the Federal Deposit named the South Carolina BankInsurance Corp. and the Feders Associa on’s Outstanding eral Reserve. Jones successfully Young Banker for 2016 at the oversaw this change in corporate SCBA Annual Conven on, held structure. June 12-15. “Jennifer has worked in many The Outstanding Young Banker areas during her tenure at CBL Award is chosen by the SCBA and has always demonstrated Past Chairman’s Club and has exemplary leadership quali es been given to one deserving and a dedica on to both her banker each year since 1970. industry and the community she Past recipients include many serves,” said Tommy Johnson, prominent South Carolina bankCBL’s president and CEO. “She ers. is mo vated to improve CBL’s “Looking back to past recipiprofitable service to Greer and, ents, I am deeply honored to by extension, the wellbeing of be a part of such a dynamic and our employees. This is a welldis nguished group of bankers deserved honor.” from all over the state,” Jones Jones has been ac ve in the Jennifer Jones of Ci zens Building and Loan is shown with Young Bankers Division of the said. “CBL’s board of directors, the Outstanding Young Banker Award, presented by last SCBA. She has served on its management team, employees year’s recipient, Montague Laffi e of South State Bank, at board since 2011 and is currentand customers have been a mathe 2016 Annual Conven on. jor component of my personal ly chairman-elect of the Young and professional development. Bankers Division. es and the banking industry,” said Fred I am grateful for the opportuni es and Jones is ac ve in the Greer community, Green, president and CEO of the S.C. friendships that have enriched me in including serving on the Greer ChamBankers Associa on. order to make this award a possibility.” ber of Commerce Board of Regents, Jones is a 2000 graduate of PresbyJones, 38, succeeds last year’s honoPartnership for Tomorrow Board of terian College. While in college, she ree, R. Montague Laffi e III, senior vice began her banking career as a teller and Trustees, working as a Meals on Wheels president and central regional president worked in opera ons. A er gradua ng volunteer, in leadership roles with First for South State Bank. Presbyterian Church in Greer and chairfrom PC, Jones joined CBL and since man of the Chandler Creek Elementary “The Outstanding Young Banker award then has worked in every area of the is the highest honor presented in the en ty’s opera on. During her me with School Improvement Council. Jones and her husband Walden have a South Carolina banking industry, and all the ins tu on she has led the way in son and daughter, Carter and Eliza. past recipients have con nued to play major so ware and policy changes. important roles in their ins tu ons, in Recently, CBL modified its corporate –Kevin Dietrich addi on to suppor ng their communistructure to create a mutual hold-

Ritz-Carlton Naples to Host ‘17 SCBA Annual Convention The South Carolina Bankers Associa on 2017 Annual Convenon will take place June 8-11, 2017, at the Ritz-Carlton Naples in Naples, Fla. The Ritz-Carlton Naples will offer a endes the chance to experience a Mediterranean-style sanctuary surrounded by protected wetlands. The resort is home to two PGA-level golf courses and there are private white-sand beaches nearby The Ritz-Carlton Naples is a unique oceanfront hotel located on three miles of Florida Gulf Coast shoreline and has been rated a five-star hotel by Forbes magazine. 11


SCBA Involved in Several Key Legislative Issues in ‘16 Neil Rashley SCBA General Counsel


he South Carolina General Assembly adjourned sine die on June 2, 2016, ending its two-year session. Overall the General Assembly was rather busy passing many bills affec ng banking; including SCBAsupported bills concerning patent trolls, evalua on of real property and powers of a orney. The General Assembly will return on Jan. 10, 2017, to begin the next session. The following is a summary of the most important bills to South Carolina banks.

Bank Evalua ons of Real Property When the federal banking agencies adopted the 2010 Interagency Guidelines on Appraisals a conflict occurred between the Guidelines and South Carolina law. The guidelines Rashley allowed banks to use an evalua on for certain real property transac ons instead of an appraisal, without the need of a licensed appraiser. However, South Carolina law s ll required that a licensed appraiser must be used on all real estate transac ons. The South Carolina Bankers Associa on brought this problem to the a en on of the South Carolina Real Estate Appraisers Board and worked with the board to provide a licensing excep on for bank employees. The board agreed and H5023 was introduced providing that a bank employee that is not licensed could perform an evalua on for a real estate transac on to the extent allowed by federal law. H5023 is effec vely immediately. Patent Trolls For a number of years, en 12

es known

as patent trolls have plagued banks and other businesses across the na on by sending demand le ers to banks and other businesses claiming ques onable viola ons of a patent and then threatening li ga on. These en es technically own the patent but have no specific evidence of infringement and they are simply a emp ng to extort exorbitant license fees from these businesses. For banks the claim o en involves processes within their ATMs or mobile banking services. The bank then is le with a difficult decision – spend more than $1 million to defend itself against a specious patent infringement claim or pay the troll the exorbitant license fee. On June 6, 2016, Gov. Haley signed H3682, the South Carolina Bankers Associa on’s bill concerning patent trolls into law, making South Carolina the 30th state to enact this law that combats the problem of patent trolls. Introduced by Rep. Kirkman Finlay, H3682 creates a state law cause of acon – Bad Faith Asser on of Patent Infringement – that allows targeted South Carolina businesses, including banks, to affirma vely protect themselves in South Carolina courts when targeted by one of these en es. One of the difficul es in defending a patent case is that a bank would have to travel to the home state of the troll to try the case. This adds considerable expense to the li ga on. With H3682, the bank can now file suit in South Carolina and assert that the asserted claims are false. Hopefully, though with H3682, patent trolls will now see South Carolina as an unfavorable place to send their le ers and there will be li le need for any li ga on. Powers of A orney For two years the South Carolina Bar worked on upda ng South Carolina’s power of a orney laws. The Bankers Associa on par cipated in this work along

with other bankers and a orneys that represent banks. Ul mately it was decided that it was best for South Carolina to adopt the Uniform Powers of A orney Act. S778 was introduced and incorporated most of the Act including a provision advocated by the Bankers Associa on allowing banks to request opinions of counsel when a power of a orney is presented. Overall S778 sets out the du es and requirements for valid durable powers of a orney in South Carolina and establishes uniform defini ons and procedures for signing these documents. South Carolina is now one of 19 states that have enacted the Uniform Act. It is effec ve Jan. 1, 2017. Fiduciary Access to Digital Assets As the world becomes increasingly digital, laws also need to reflect these changes. In the area of fiduciary management of assets, state laws, including South Carolina’s, did not clearly allow fiduciaries access to digital assets. S908 was introduced and adopts the Revised Uniform Fiduciary Access to Digital Assets Act. The Act extends the tradi onal power of a fiduciary to manage tangible property to include management of a person’s digital assets such as computer files, web domains and virtual currency. But the law also restricts a fiduciary’s access to electronic communica ons such as email, text messages and social media accounts unless the original user consented in a will, trust, power of attorney, or other record. Eighteen states have now enacted this uniform act. ABLE Accounts H3768 establishes the South Carolina Able Savings Program that allows for the crea on of IRS 529 accounts as a way to allow individuals with a disability and their families to save private funds to support the individual with a disability. See Legislature, Page 24


Prize-Linked Accounts Receive Legislative Approval Prize-linked savings accounts are now available in South Carolina. During this past session, the SCBA worked for and was successful in ge ng the S.C. General Assembly to pass legisla on enabling South Carolina banks to offer prize-linked savings accounts, giving ins tu ons not only another means to a ract core deposits but another way to incen vize savings. On a federal level, prize-linked savings accounts were authorized in December 2014. The first bank in the na on to embrace to program was Blue Ridge Bank of Luray, Va., which launched its product on July 1, 2015. Prize-linked savings accounts can provide meaningful incen ves for consumers to increase their savings, according

Prize-linked savings accounts give banks another means to both a ract core deposits and to incen vize savings. to Brian Plum, president and chief execu ve officer of Blue Ridge Bank in tes mony before a Senate Aging Commi ee in June. The Virginia bank introduced a prizelinked savings program called “Jackpot Savings” that provides one prize entry for every $25 in a customer’s account, with monthly drawings for up to $200 plus an annual drawing with a $10,000

grand prize. A er just a year of offering the program, Plum expects to hit the $1 million mark in PLS balances this summer. At Blue Ridge, the interest rate is the same as on tradi onal savings; however, PLS par cipants are limited to one penalty-free withdrawal per month to encourage saving. “One of my favorite stories is of a customer who was mo vated to open a savings account a er reading about the product,” Plum said. “She wanted to set money aside to pay for a vaca on she has been planning for a long me instead of u lizing credit. Not only has she made significant progress toward her goal, but she was also one of our monthly prize winners.”

Mandatory Electronic Lien Transmission Passed into Law Change is coming to the state’s electronic lien and tle program. Among bills passed by the legislature and signed by the governor this session was one specifying mandatory electronic lien transmission on motor vehicles and mobile homes. This legisla on makes it mandatory for all lienholders to electronically file lien sa sfac on. To encourage electronic filing, the S.C. Department of Motor Vehicles plans on se ng a higher fee for any commercial en ty that chooses to paper-file lien sa sfac ons. The date set for mandatory par cipaon is Aug. 1, 2017, to give lenders not yet par cipa ng me to join the electronic lien and tle program. The bill, supported by the SCBA, contains SCBA language that any fee charged by the DMV to a lender would be considered a permissible fee under the S.C. Consumer Protec on Code. One of the early goals of the electronic lien and tle program was to provide electronic processing at the front end of the vehicle-loan process, as well as elimina ng the paper tles that resulted from the successful placement of the lien on a tle by the DMV. Over the past decade, the SCBA and

Decsion Dynamics Inc., one of the SCBA’s preferred vendors, have worked together to establish a protocol for eletronic lien transmission for vehicles. During that period, dozens of member banks have used DDI’s services in this area to great sa sfac on. In 2015, the S.C. DMV held mee ngs to iden fy and priori ze the electronic processing steps desired by lenders and define the parameters for a mandatory electronic lien and tle program. The SCBA, selected banks, automobile dealers and other lenders served as ac ve

par cipants in a working group. The group requested the ability to electronically file liens, submit payments electronically and the ability to transfer liens electronically between lienholders. This effort completes a major step in automa ng the en re vehicle lien and tling process. If this bill impacts your business, the SCBA encourages you to contact SCBA Senior Vice President Carolyn Laffi e at carolynlaffi e@, or Amanda Jensen with DDI at amanda.jensen@dditechnology. com.


It’s Not Just a Building...

It’s Home. Community Investment Corporation of the Carolinas is a lending consortium of more than 100 southeastern financial institutions, working together to provide permanent financing that supports the development of high-quality affordable multifamily housing in the Carolinas, Georgia, Tennessee, Virginia and West Virginia. Since 1990, CICCAR members have funded more than $275 million in loans, creating 17,000 units in over 300 properties. In return, they receive the benefits of loan growth, CRA credit and the satisfaction of creating “home” for nearly 50,000 people. Call today to learn more about the ways that membership in CICCAR can benefit your bank and the communities you serve.

Community Investment Corporation of the Carolinas P.O. Box 19999, Raleigh, NC 27619 Toll free: (800) 662-7044 Local: (919) 781-7979


Community Bankers Council

Community Bankers Council Stepping Up Approach


t’s been more than 20 years since the Community Bankers Council was created by the SCBA and, as with any en ty, every so o en it’s important to step back and review goals and assess progress. Although I only took over as chairman of the Community Bankers Council this past July 1, the Council itself dates back to 1994. It was formed during a period when a number of South Carolina banks either had been or were in the process of being acquired by larger outWicker of-state ins tuons. The crea on of the Community Bankers Council was a means to ensure our community bank members had a voice in the direc on and ini a ves undertaken by the South Carolina Bankers Associa on. Today we have more than 50 community banks in the Associa on. All are doing well and rely on the SCBA to provide meaningful educa on and training opportuni es for our employees, and also to vet the providers who supply goods and services to member banks. In addi on to these ongoing ini a ves, the Community Bankers Council has two major events each year: in the fall we hold the Community Bankers Forum and in the spring we have our Community Bankers Peer Group. The goal of both is to bring in an array of speakers to talk on issues of interest to community bankers across South Carolina. The Community Bankers Council is working with the Bankers Associa on staff to develop a program for the upcoming Community Bankers Forum, to be announced later, that will appeal not only to senior management but also to

board members of community banks. To be held in November in Columbia, the Forum will be both mely and provide informa on cri cal to the successful opera on of your ins tu on. Like many of you, we have peer groups that we par cipate in. But the SCBA Community Bank Spring Peer Group is the only gathering that includes all the state’s community bankers and is dedicated to helping senior community bankers learn from one another. We will use the me not only for social interac on but to listen to experts address issues important and relevant to banks in our state. The fact is, the Bankers Associa on is really a training partner for most of our community banks, through the seminars, conferences and workshops it puts on throughout the year. The Community Bankers Council works with the SCBA to ensure that such events are relevant and mely.

Going forward, the Community Bankers Council will work even more closely with the SCBA to make sure the Community Bankers Forum and the Peer Group, in par cular, are cu ng edge and germane in terms of material presented. As always, the focus will be on issues of par cular interest to community banks and bankers. We hope to see all of you there. We have always had good par cipa on from our community bank members, but we look forward to the day when representa ves from all the 50-plus banks in this group a end both events, which will only serve to strengthen this division of the South Carolina Bankers Associa on. (K. Wayne Wicker is chairman and chief execu ve officer of South Atlan c Bank, and the 2016-17 chairman of the Community Bankers Council.)


Execu ve News Jennifer W. Harris was recently named senior vice president and chief financial officer of Horry County State Bank. Harris will oversee all financial ma ers for the bank. Harris comes to Horry County State Bank with 18 years of experience in the Harris financial services industry. Most recently she served as VP senior accountant – SEC Repor ng for Park Sterling Bank in Charlo e, from September 2014 to May 2016. Prior to that, Ms. Harris served as SEC financial repor ng manager of Yadkin Bank in Statesville, N.C., from 2009 to July 2014. Harris also has held various senior accoun ng roles at community banks

across North Carolina. She is a cer fied public accountant and began her career at a na onal public accoun ng firm, during which me which she specialized in audi ng financial ins tu ons. James R. “Jimmy” Clarkson has joined First Reliance Bank as market president for the Loris, Conway and North Myrtle Beach markets. First Reliance Bank is expanding into the Grand Strand and opened a loan produc on Clarkson office on July 11 in Loris. That loca on will eventually become a full-service office. Clarkson, a long me community banker, will be will be in charge of developing market share and overseeing

opera ons for First Reliance. J. Rick Pa erson has been named execu ve vice president and chief operating officer of Horry County State Bank. Pa erson has more than 35 years of experience in the financial services industry and during his career has worked with both na onal Pa erson and community banks in the Carolinas. A graduate of Wofford College and the Graduate School of Banking at LSU, Patterson has extensive opera onal experience covering all aspects of consumer and commercial banking, including experience with managing a troubled bank’s opera ons.

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Bank News Anderson Brothers Bank Anderson Brothers Bank broke ground on its newest Myrtle Beach branch, in Market Common. A groundbreaking ceremony was held May 12. The office, the bank’s ninth loca on in Horry County, is expected to open by mid-December. Anderson Brothers Bank has received state and federal approval to open a full-service office at 100 East Main Street in La a.

BNC Bancorp BNC Bancorp completed its acquisi on of Mount Pleasant-based Southcoast Financial Corp., the parent of Southcoast Bank, it announced in June. Coastal Carolina Bancshares Inc. Myrtle Beach-based Coastal Carolina Bancshares announced in mid-May it would acquire Aiken-based VistaBank in a stock and cash deal valued at $12.2 million. Coastal Carolina is the parent of Coastal Carolina Na onal Bank. When complete, VistaBank will merge into CCNB and the combined bank will have approximately $288 million in assets. The transac on is expected to close in the fourth quarter of 2016. Laurence S. Bolchoz Jr. will remain president and chief execu ve officer of CCNB, and Paul R. Dusenbury, president and CEO of VistaBank, will join the CCNB execu ve team as execu ve vice president and chief risk officer. Carolina Financial Corp. Carolina Financial Corp., parent of CresCom Bank, completed its acquision of Congaree Bancshares Inc., holding company for Congaree State Bank, in mid-June. As part of the merger agreement, Congaree State Bank was merged with CresCom Bank. Charleston-based Carolina Financial has more than $1.5 billion in assets. Community First Bank Community First Bank established loan produc on offices in Spartanburg during the first quarter, and Fort Mill in the second quarter, the Walhalla-based

bank detailed in separate announcements.

FineMark Na onal Bank & Trust Florida-based FineMark Na onal Bank & Trust recently opened its first South Carolina office, on Island Park Drive in Charleston. First Ci zens Bank First-Ci zens Bank & Trust Co., a unit of Raleigh-based First Ci zens BancShares Inc., entered into an agreement with the FDIC on June 14 to terminate five of the bank’s nine loss-share agreements with the agency, including two related to South Carolina transac ons. First Palme o Bank As part of the American Bankers Associa on’s Take Your Lawmaker to Work program, First Palme o Bank had U.S. Rep. Mick Mulvaney to visit its main office in Camden on July 29. Mulvaney, a Republican whose district includes Kershaw County, has been ac ve in financial affairs while on Capitol Hill, serving on the House Commi ee on Financial Services. First Reliance Bancshares Inc. First Reliance Bancshares has redeemed 4,000 shares of outstanding fixed-rate cumula ve-perpetual preferred stock, series A, the Florence-based company announced in June. The total aggregate redemp on price was $4 million. The series A preferred shares were originally issued to the U.S. Treasury Department under the TARP Capital Purchase Program. In 2013, the U.S. Treasury sold all shares of the company’s series A and series B fixed rate cumula ve perpetual preferred stock to private investors. First Reliance later said it intends to redeem its TARP balance through refinancing. GrandSouth Bank Greenville-based GrandSouth Bank announced plans to open its first Midlands branch with an office at 1901 Assembly St. in Columbia. GrandSouth is headquartered in Greenville and has four offices in the Upstate.

HCSB Financial Corp. Loris-based HCSB Financial Corp., the parent of Horry County State Bank, is offering up to 23,384,301 common shares to shareholders, employees and others in its community, according to a registra on statement filed in midApril. The company said this offering is in connec on with a private placement of 359,468,443 shares of common stock and 905,315.57 shares of a new series of conver ble perpetual nonvo ng preferred stock, series A, at 10 cents per share, which resulted in cash proceeds of approximately $45 million. South Atlan c Bank South Atlan c Bank has announced plans for a new office in Mount Pleasant. The site is a 1.36-acre parcel in front of the Queensborough Shopping Center. When completed, the loca on will serve as South Atlan c’s headquarters in the Mount Pleasant market. South State Corp. Columbia-headquartered South State Corp. and Southeastern Bank Financial Corp. signed a defini ve merger agreement. Under deal terms, Southeastern subsidiary Georgia Bank & Trust Company of Augusta will be merged into South State subsidiary, South State Bank. Georgia-based Southeastern operates in South Carolina as Southern Bank & Trust, based in Aiken County. As of March 31, 2016, Southeastern had approximately $1.9 billion in assets. Upon comple on of the transac on, the combined company will have approximately $10.5 billion in total assets and 133 branches in the Carolinas and Georgia. The transac on is scheduled to close in early 2017. United Community Banks Inc. United Community Banks Inc. of Blairsville, Ga., completed its merger with Mount Pleasant-based Tidelands Bancshares Inc., effec ve July 1. Tidelands Chairman, President and CEO Thomas Lyles will serve as chairman of United’s Charleston community bank advisory board. 17

Personal Transac ons



Abbeville First Bank Jeff Wilson recently joined the board of Abbeville First Bank. Wilson is general manager and CEO of West Carolina Rural Telephone Coopera ve. Ameris Bank Ameris Bank Columbia Market President Mze Wilkins was recently recognized by the Midlands Technical College Founda on with its 2016 Dis nguished Volunteer Award. The Dis nguished Volunteer Award is presented to an individual who has given me, talent and resources to Midlands Technical College. Anderson Brothers Bank A. Glenn Greene III recently joined Anderson Brothers Bank as business development officer for Dillon County. Jason Hucks has joined Anderson Brothers Bank as a loan officer. Anderson Brothers Bank has promoted Wanda Lewis to branch opera ons coordinator. Anderson Brothers Bank has appointed Jackie McKenzie as CSR/branch coordinator. Ricky Reynolds has joined Anderson Brothers Bank as a loan officer. Sherry Young has joined Anderson Brothers Bank as a call center manager.

Bank of Clarendon Bank of Clarendon Community Development and Assistant Marke ng Officer Kim Johnson was presented with the 18




YWCA of the Upper Lowlands’ Women Under 40 Award in late May.

leader for CresCom Bank’s Cayce/Columbia market.

Carolina Alliance Bank Coleman Edmunds has been promoted to execu ve vice president, retail banking officer by Carolina Alliance Bank.

Danita Eldridge recently joined CresCom Bank as its new electronic banking manager and assistant vice president.

Carolina Alliance Bank has added Travis Lawson to its South Carolina Leasing Division as vice president, South Carolina leasing execu ve.

CresCom Bank has hired Ka e Ellison to serve as an accountant.

Coastal Banking Co. John Adams II and Ken Ausley of Ocala, Fla., have joined the board of Beaufortbased Coastal Banking Co. Inc. as a result of Coastal’s acquis on of First Avenue Na onal Bank. Community First Bank Community First Bank of Walhalla has named W. Roy Benne senior vice president and city execu ve. Community First Bancorpora on Inc., parent of Community First Bank, elected T. Brandon Cox, CFP, managing director of United Capital in Anderson, Joel R. Davis, president and owner, J. Davis Construc on, Inc. in Westminster, and Amber B. Glidewell, a orney and partner, Roe Cassidy Coates & Price, P.A. in Greenville, to its board.

William “Chip” McCune recently joined CresCom Bank’s as an analyst.

Entegra Bank Long me S.C. banker Tim Strom has joined Entegra Bank as the ins tu on’s director of mortgage lending. GrandSouth Bank Jessica Takach has been named vice president and branch manager by GrandSouth Bank. First Ci zens Bank Chris Riley recently rejoined First Ci zens Bank as manager of commercial banking for the Columbia and Greenville/Spartanburg areas. Riley, with more than 25 years of banking experience, spent the first 14 years of his career with First Ci zens.

Community First Bank has hired Shawn Widrick as vice president and commercial lending officer.

First Palme o Bank David McCord has been hired by First Palme o Bank as senior vice president and commercial lender for the bank’s Myrtle Beach market.

CresCom Bank Kevin Adams has been named senior vice president and commercial market

First Reliance Bank Daniel Saadi has joined First Reliance Bank as a residen al lending specialist

Personal Transac ons



for the Lexington area.

Greer State Bank Larry Compton was recently appointed senior vice president and mortgage director by Greer State Bank. Compton most recently served as mortgage opera ons manager for the bank. Horry County State Bank Lisa Bell has joined Horry County State Bank as assistant vice president and branch manager at the bank’s North Myrtle Beach office. Michelle Brown has joined Horry County State Bank as vice president and branch manager at the Tabor City office. Jamie Conner has been promoted to assistant vice president, branch manager and commercial banker by Horry County State Bank. Horry County State Bank has promoted Deborah “Debbie” Guye e to vice president and commercial banker. Horry County State Bank has hired Geoffrey Hopkins as senior vice president and inland regional execu ve. Louis LaBruce has joined Horry County State Bank as senior vice president and commercial banker. Marc McDowell has joined Horry County State Bank as city execu ve and senior vice president at the bank’s North Myrtle Beach office. Horry County State Bank has named


Jack McElveen execu ve vice president and chief credit officer. HCSB Financial Corp. recently appointed John Pietrzak to serve as a director of the company and its subsidiary, Horry County State Bank. Horry County State Bank has promoted Amanda “Mandy” Stanley as branch manager at the bank’s Loris office.

South Atlan c Bank Rose Mary Hanna has been promoted to teller supervisor at South Atlan c Bank’s Murrells Inlet branch. South Atlan c Bank has named Carrie Harris senior vice president and director of human resources. Caroline Springs has been promoted by South Atlan c Bank to serve as the merchant sales and service representave for the bank.

South State Bank Mar n B. Davis has been appointed to the board of South State Corp., the Columbia-based parent of South State Bank. Davis is execu ve vice president of Southern Company Services and chief informa on officer of Southern Co.



Newberry markets. Tripp Whitener has joined South State Bank as a senior commercial lender with responsibility for the Columbia and Lexington markets.

TD Bank, N.A. Aaron Brewer has been promoted to city execu ve for Charleston by TD Bank. TD Bank has appointed Henry Givens area execu ve for Berkeley and Dorchester coun es. His responsibili es also include Orangeburg, Colleton, Jasper, Beaufort and Hampton coun es. Shannon Stephens has been named regional vice president for the Midlands of South Carolina by TD Bank.

United Community Bank James Boccardo has joined United Community Bank as a vice president in the ins tu on’s Middle Market Banking team in Charleston. United Community Bank recently announced that Senior Vice President Tommy DeMint will head its Middle Market Banking team, working from Greenville.

South State Bank announced that Melissa Thomas has joined its Greenville office as a junior mortgage originator.

Russ Williams has joined United Community Bank as senior vice president, commercial rela onship manager.

South State Investment Services, part of South State Corp., has announced that Chris White has been named investment consultant for the Greenwood and

Jeff Wilson has joined United Community Bank as a vice president in the ins tu on’s Middle Market Banking team in Charleston. 19


2016-17 SCBA Calendar Boast Strong Lineup of Events The annual Women in Banking Symposium, which has quickly grown into one of the best-a ended events on the SCBA calendar, will be held Sept. 28-29 in Charlo e. Last year, more than 170 bankers and guests turned out for the symposium – an increase of nearly 20 percent from the previous year. The event featured an array of highprofile speakers, including Cathy Callaway Adams, chief opera ons officers with the Federal Home Loan Bank of Atlanta; Cathy Bessant, global technology and opera ons execu ve for Bank of America; Beth Dinndorf, president of Columbia College; and Patricia MoorePas des, first lady at the University of South Carolina. In addi on, there was a leadership panel featuring Kris n P. Couch, chief financial officer of Cornelius, N.C.-based Aquesta Bank; Robin S. Hager, chief administra ve officer of NewBridge Bank

‘The SCBA has worked to develop a schedule of seminars, conferences and events for the coming year that will not only meet, but exceed, the needs of our members.’ –E. Anne Gillespie Senior Vice President, SCBA of Greensboro, N.C.; Anne K. Surre , Regional Director for Wells Fargo; and Clover Community Bank CEO Gwen M. Thompson. The symposium is one of several key educa onal and networking events the SCBA will be pu ng on in the coming



months. Others include: • The SCBA Call Report Seminar, Sept. 15 in Columbia; • The SCBA Bank Security Risk Management Conference, Sept. 21 at the Downtown Marrio Hotel in Columbia; • The CFO Conference, Sept. 22, in Columbia; • The SCBA Consumer Lending School, Oct. 19-20, in Columbia; and • The SCBA Community Bankers Forum, Nov. 3 in Columbia. In addi on, the 2016 Young Bankers Scholarship Golf Tournament will be held Oct. 3 at the Columbia County Club in Blythewood. For more informa on on any of these events, contact SCBA Senior Vice President E. Anne Gillespie at 803.779.0850, or by email at –Kevin Dietrich


Charleston Bank Structure Notable Fixture Since 1854


ne of South Carolina’s most celebrated architectural gems began as an antebellum bank. The Farmers’ and Exchange Bank Building, at 141 E. Bay St. in Charleston, has been garnering the a en on of locals and visitors alike since its construc on in 1854. Its Moorish design made it a novelty then and now, and it caught the eye of famed writer William Gilmore Simms, who penned an ar cle for Harper’s Magazine in June 1857. “It is a novelty in the architecture of Charleston, if not of the day, being Moorish in all of its details, yet without reminding you of the Alhambra or the Vermillion towers,” wrote Simms (18061870), who is regarded as a major force in antebellum Southern literature. “It is of brownstone of two nts, laid alternately – an arrangement which adds considerably to the effect. The interior is finished with arabesque work from floor to ceiling, and is lighted with subdued rays from the summit. This gives a rich and harmonious effect to the whole. It is of recent erec on, Jones and Lee the architects. The corpora on itself is a new one, and prosperous, like all the temples reared to the god of the Mines, the Counter, and the Mint, in this virtuous city.” The building is the only Moorish Revival building in Charleston. It was designed by Charlestonians Edward C. Jones and Francis D. Lee in 1853 and completed the following year. Jones was an especially notable architect whose other works included Walker Hall on the campus of the South Carolina School for the Deaf and Blind in Spartanburg; the Church of the Holy Cross in Stateburg; and Charleston’s Magnolia Cemetery. The Farmers’ and Exchange Bank building has rounded horseshoe arches and a façade featuring pale Jersey and darker Connec cut brownstone, giving it a striped effect typical of many Moorish structures. Its design is thought to have been in-

fluenced by illustra ons in Washington parking. Irving’s 19th century work, Tales of the According to Hollings, South Carolina Alhambra, a revised edi on of which banker Hugh Lane Sr. spent $50,000 was published two years before conto preserve the structure in the early struc on. 1970s. Lane, Hollings recalled, saw great The structure was built by David Lopez, purpose in preserving what had been, who also constructed Charleston’s Kahal rather than simply building something Kadosh Beth Elohim synagogue and new, according to the 2012 book The Ins tute Hall, where the S.C. Ordinance Rise of Charleston: Conversa ons with of Secession was signed in December Visionaries, Luminaries & Emissaries of the Holy City. 1860. Today, the building is si ng unused, The Farmers’ and Exchange Bank opened the same year the building was constructed and con nued in Charleston un l Federal bombardment of the city during the Civil War forced the bank’s proprietors to move it to Columbia. Like most South Carolina banks, it didn’t reopen a er the war. Later, the East Bay Street The iconic Farmers’ and Exchange Bank Building, at 141 E. Bay St. in structure Charleston. was used but there has been talk in the past year for a variety of purposes, including a of reopening it as a restaurant again. Western Union telegraph office, office The Farmers’ and Exchange Bank Buildspace for Sen. Fritz Hollings and, most ing was declared a Na onal Historic recently, as a restaurant. Landmark in 1973. In 1969 it was listed as being owned by Hollings, but by 1970 there was talk –Kevin Dietrich of tearing it down to make room for 21


Ransomware: An Epidemic Your Institution Can Avoid Heather Wyson-Constan ne American Bankers Associa on


y now, you’ve mostly likely heard the news: ransomware is here and it’s a problem. Businesses of all types and sizes are targeted by criminals in this extor on scam that exploits vulnerabili es within an organiza on’s staff and technical processes to deliver malicious so ware. Once installed on a computer or mobile device, the malware can encrypt documents or en re opera ng systems, rendering them inaccessible or inoperable un l a ransom fee is paid by the vic m. The impact can be devasta ng. Imagine not being able to access your company’s email, customer informa on or vital records for days or even weeks. Such is the case when the Hollywood Presbyterian Medical Center fell vic m to a ransomware a ack in March 2016, causing them to remain offline for over a week un l the hospital agreed to pay the criminals approximately $17,000 in Bitcoin. Vic ms not only face monetary losses associated with the ransom and loss of business during the down me, but also the addi onal costs associated with the forensic review of their systems to ensure that the ransomware has, in fact, been removed and no other malware installed. There is also the loss of employee produc vity and, most importantly, customer trust. The Federal Bureau of Inves ga on reports that more than 1,800 complaints were filed in 2014 regarding ransomware with a loss of more than $23 million. In 2015, that number increased more than 30 percent to more than 2,400 complaints with a reported loss of more than $24 million. Infec on Vectors Ransomware is typically delivered through emails targeted to a specific individual within a business. While the email and its contents appear to be legi mate, they o en contain malicious

a achments or links to websites that host an exploit kit. The good news is that ransomware can be prevented through implementing and following basic cyber hygiene prac ces. The bad news is that the best technical defenses can be undone by employees who are o en the weak link in these social engineering scams; therefore, educa ng staff on these types of scams is integral. Employees should be taught to be cau ous when opening emails, links or a achments they don’t expect or recognize, even if the message appears to come from someone on their “safe” contact list. When in doubt, employees should contact the sender to confirm legi macy. Since ransomware is also present in downloadable games and file-sharing applica ons, employees should be taught to download so ware only from sites approved by the company, if at all. Technical Protec ons The FBI recommends that businesses take the following steps to protect themselves against infec on: • Patch opera ng system, so ware, and firmware on digital devices (i.e. using a centralized patch management system) • Ensure an virus and an -malware solu ons are set to automa cally update and conduct regular scans. • Manage the use of privileged accounts. No users should be assigned administra ve access unless absolutely needed and only use administrator accounts when necessary. • Configure access controls, including file, directory and network share permissions appropriately. • Disable macro scripts from office files transmi ed over email. Implement so ware restric on policies or other controls to prevent programs from execu ng from common ransomware loca ons. • Implement applica on whitelisting. Only allow systems to execute

programs known and permi ed by security policy. Use virtualized environments to execute opera ng system environments or specific programs.

Best Defense is a Good Offense While training staff and implemen ng appropriate technical measures to avoid the delivery of ransomware to your systems is your first line of defense, these scams will evolve and become more difficult to detect. Businesses must proac vely prepare to protect and recover their data and systems in the event they become infected with ransomware. The FBI recommends having a robust data backup and recovery plan for resuming and con nuing opera ons, including: • Systema cally backing up data and verifying the integrity of those backups. • Securing backups and ensuring that they are not connected to the computers and networks they are backing up. • Maintaining copies of files, par cularly sensi ve or proprietary data, in a separate secure loca on. • Categorizing data based on organiza onal value and implement physical/logical separa on of networks and data for different organiza on units. The FBI does not advocate paying the ransom as this does not necessarily guarantee receipt of a decryp on key from the criminals; however, the FBI acknowledges that execu ves must evaluate all op ons to protect their customers, employees and shareholders. Contact your local FBI Cyber Task Force for assistance and report all instances of ransomware and other criminal cyber ac vity to the FBI’s Internet Crime Complaint Center. (Heather Wyson-Constan ne is vice president of Payments and Cybersecurity for the American Bankers Associaon.) 23

Legislature The State Treasurer will manage the program and maintenance of these accounts. The provisions of H3768 are effec ve now and apply to accounts established a er the 2015 tax year. For more informa on on ABLE accounts the State Treasurer has set up the SC ABLE webpage on the Treasurer’s site at

Deeds Offices in the bordering counes giving the public no ce of affected proper es. Full faith and credit is given to all conveyances and transfers that were previously filed on the affected proper es. The bill also provides for no ce provisions in foreclosure ac ons. The boundary will officially change on Jan. 1, 2017.

An -Money Laundering Un l H4554 was signed into law, South Carolina was the only state in the na on without comprehensive state regulatory authority over money transfers. Law enforcement argued that this made the state a center for money laundering ac vi es that facilitated organized criminal enterprises and terrorist ac vi es. In response to law enforcement’s concerns, Rep. Alan Clemmons introduced H4554, which establishes new provisions for the regula on and oversight of money transmission services, along with requirements for the licensure and regula on of money transmission and currency exchange services. The South Carolina A orney General will be the regulator of money service businesses in South Carolina. Banks and their related ac vi es are exempt from the provisions of H4554 and the act takes effect on June 9, 2017, or upon the publica on in the State Register of final regula ons implementing the act, whichever occurs later.

Transporta on Infrastructure The General Assembly agreed to devote up to $4.5 billion to the state’s roads over the next 10 years. This includes: $950 million to repair or replace all structurally-deficient bridges on Interstate and na onal highways; $2 billion in widenings and improvements to exis ng Interstates; and, over $1.4 billion in pavement resurfacing. Funds may also be used for the issuance of bonds through the State Infrastructure Bank.

S.C.-N.C. Boundary This year both South and North Carolina finalized their border a er an 18-year effort by the Joint Boundary Commission to re-establish the official border. S667 takes the commission’s findings and resets the 334-mile border. Even though the border changes are minimal they will affect about 90 proper es and cause them to shi states S667 sets forth a process where official public no ces will be filed in Register of 24

South Carolina Farm Aid Fund In response to catastrophic flooding in October 2015 and a severe drought, the General Assembly created the South Carolina Farm Aid Fund to assist affected farmers. The fund was appropriated $40 million for making financial awards to farmers who have experienced a verifiable loss of agricultural commodi es of at least 40 percent as a result of last fall’s flooding. Grant awards must be used for agricultural

produc on expenses and losses due to the flood which demonstrate intent to con nue the agricultural opera on and awards may not be used to purchase new equipment. End of Session The General Assembly approved S267 which shortens the session by se ng the adjournment date for the year as the second Thursday in May rather than the current deadline of the first Thursday in June. The text of these bills can be found at If you would like more informa on about these other bills, you may contact Neil Rashley, SCBA senior vice president and counsel, at or 803.779.0850.

(Neil Rashley is senior vice president and counsel for the South Carolina Bankers Associa on.)

SCBA Scholarships

Forty of the 57 South Carolina college students awarded SCBA scholarships at a recep on put on by the Bankers Associaton in Columbia in late May.

SCBA Awards $57,000 in Scholarships to SC Students The South Carolina Bankers Associa on awarded scholarships totaling a record $57,000 to deserving Palme o State college students in late May. Fi y-seven students from 16 South Carolina ins tu ons of higher educa on were awarded SCBA Palme o Scholarships during a recep on May 24 in Columbia. Leading the way with 17 scholarship winners was the University of South Carolina, while Clemson University tallied nine recipients and Anderson University six. Other recipients came from Bob Jones University, Charleston Southern University, Coastal Carolina University, College of Charleston, Erskine College, Furman University, Lander University, Medical University of South Carolina, Southern Wesleyan University, The Citadel, University of South Carolina Upstate, Winthrop University and Wofford College. To reinforce its commitment to educaon and assist students with the everescala ng cost of higher educa on, the SCBA in recent years has bolstered its program by offering scholarships to the children of employees of SCBA-member

banks. “The Bankers Associa on receives tremendous support from its member banks, and we look at the Palme o Scholarship program as a dividend back to our members,” said SCBA President and Chief Execu ve Officer Fred Green. Money for Palme o Scholarships comes from the SCBA Educa onal Founda on, through funds raised by the Young Bankers Division Scholarship Golf Tournament and the efforts of third year South Carolina Bankers School students. Scholarship winners were: Dus n Bachman of Irmo; Bree Burde e, Iva; Jalyn Carlson, Myrtle Beach; Sarah Cockcro , Charleston; Zaria Combs, Anderson; Cory Comunal, Pendleton; Caleb Davis, Fort Mill; Connor Desmond, Columbia; Ridge DeVuono, Gray Court; Tamara Diemer, Greenville. Tee DuBose, Sumter; Luke Duncan, Greenville; Elizabeth Elmore, Seneca; Alyssa Franchak, Mt. Pleasant; Stephanie Futrell, Hanahan; Jo Gibert, Anderson; Lauren Graves, Taylors; Kelly Haffner, Greer; Stephen Hansen, Travelers Rest; Stephen Henderson,

Simpsonville; Alexis Hollis, Moore; Sami Hooker, Orangeburg. Miranda Houser, Greer; Katherine Howell, Greenville; Maggie Hughes, St. Ma hews; Catelin Johnson, Cayce; Ashley Keller, Pawleys Island; Olivia Kemmerlin, Cayce; Amanda Kington, Lexington; Mary Madison Laffi e, Es ll; Ma Maxwell, Columbia; Kayla McAvoy, Boiling Springs. Rylie McCrackin, Myrtle Beach; Meghan McGee, Iva; Hannah McGinn, Charleston; Paul McTaggart, Simpsonville; Reece Meares, Greenville; Megan Middleton, Lexington; Jamie Mims, Harleyville; Racheal Moore, Greenville; Carly Munn, Daniel Island; Kali Potes, North Charleston; Willard Ramsey, Simpsonville; David Robb, Duncan; Mitchell Roberts, Columbia. Julie Robinson, St. Ma hews; Craig Rode, Mt. Pleasant; Claudia Salazar, Summerville; Nick Samson, Chapin; Michael Smith, Florence; Jay Sturm, Columbia; Sara Swea , Myrtle Beach; Zach Thier, Gilbert; Caroline Vaughan, Greenville; Kyle Walker, Columbia; Lauren Weston, Summerville; Wilson Wicker, Myrtle Beach. 25

S.C. Bankers School

Nearly Four Dozen Matriculate from Bankers School Some 47 students graduated from the 2016 session of the South Carolina Bankers School, an increase of more than 10 percent from last year. In all, there were 134 first-, secondand third-year students represen ng 49 different ins tu ons at the school, which met July 10-15 at Lander University in Greenwood. “We saw an increase in first-year students this year, which bodes well for the future of banking in South Carolina,” said Carolyn Laffi e, SCBA senior vice president and Bankers School director. “The South Carolina Bankers School is

From top le , clockwise: Graduates of the 2016 S.C. Bankers School. Ryan Griffin, BNC Bank and Lillie H. Magalis Award winner, with Charlie Rivers, BNC Bank. Mike Crapps, First Community Bank; Gray Henderson, Palme o State Bank; and Sam Erwin, United Community Bank. Bank execu ves par cipate in panel discussion. 26

cri cal to ensuring the strength of our industry through the training of future leaders. And it’s because of the support of our banks and banking leaders that the school remains among the very best.” Ryan Griffin of BNC Bank was recognized with the Lillie H. Magalis Award, given to the third-year student with the highest cumula ve grade. The BankExec compe on, in which teams compete against one another in the running of a simulated bank, featured two winners: In “Community A” top honors went to Team 2, made

up of Cam Freeman, First Ci zens Bank; Ashley Rogers, CresCom Bank; Nikki Barne , Bank of York; and Amber Bobo, First Community Bank. In “Community B” first place was captured by Team 4, which featured Shawn Phillips, South State Bank; Blaine Pa erson, Bank of Travelers Rest; Joe Hunter Hyman, The Conway Na onal Bank; and Blake Timanus, GrandSouth Bank. The third-year class raised more than $10,300 for the SCBA’s Palme o Scholarship program, money which will go to fund scholarships to the children of employees of SCBA member banks.

From top le , clockwise: SCBS Chairman John Griggs is congratulated by Chairman-elect Edward McKelvey, South State Bank. SCBA CEO Fred Green presents diploma to Robbie Hollings, The Bank of South Carolina. First-year students learn “Business Applica ons” from Rusty Copsey, Wells Fargo. Secondyear students. Alston Brooks, BB&T, is recognized by Ernie Swi for his 25 years of dedica on to the Bankers School and Bank Exec Team. “Bearcat Bank” execs review their Bank Sim decisions. Third-year Bank Exec “CEOs” enjoy a luncheon with team instructors and SCBS board members. One of many students who par cipated in a cornhole tournament to raise funds for the Palme o Scholarship.


Welcome New Associate Members All Covered (a division of Konica Minolta Business Solu ons) 101 Williams Dr. Ramsey, NJ 07446 Phone: 866.446.1133 Contact: Anthony Garofalo Email: Website: All Covered is the leading provider of IT Compliance and Cybersecurity services to financial ins tu ons. We enable our customers to implement compe ve products and services to acquire, maintain and grow customers. Our team of cer fied security and compliance professionals are former banking and IT security execu ves experienced in delivering solu ons to financial ins tu ons. Our hundreds of clients are increasingly compe ve, while successfully maintaining regulatory compliance and implemen ng security measures to mi gate cyber threats. Ba ery Funding 220 King Street, Suite 3 C & D Charleston, SC 29401 Phone: 843.727.2050 Contact: John C. “Chas” Jus ce Jr. Email: chas@ba Website: Ba ery Funding is a technology driven lending pla orm specifically designed to help banks service their customers’ non-tradi onal lending needs. Our applica on allows banks to help manage and add value to their rela onships with depositors and customers by providing them with alterna ve funding op ons. When a bank receives a loan request that is outside of their tradi onal lending criteria, they send or input the customer to the Ba ery Pla orm. From there, Ba ery Funding provides non-bank funding op ons through our network of specialty underwriters. Banks are able to track a borrowers funding status through our web-based 28

applica on and be alerted at cri cal benchmarks.

• •

Cybersecurity; and Insurance.

Covington & Burling LLP 850 Tenth Street, NW Washington, DC 20001 Phone: 202.662.6000 Contact: Frank M. “Rusty” Conner III Email: Website:

Kasasa 4516 Seton Center Parkway #300 Aus n, TX 78759 Contact: Jessica Van Kline Phone: 512.349.4493 Email: Website:

Headed by the former Comptroller of the Currency and recognized as a preeminent prac ce by Chambers, Legal 500, Best Lawyers in America and other publica ons, Covington’s financial ins tu ons prac ce is widely recognized as one of the leading prac ces in the United States. For more than 50 years, Covington has advised financial services firms on all types of regulatory, enforcement, transac onal and consumer protec on ma ers on a wide range of legal and regulatory issues, including: • Regulatory and Government Affairs; • Enforcement and Li ga on; • Mergers and Acquisi ons; • Capital Markets and Securi es;

Kasasa is the innovave leader in branded, community-powered banking products proven to drive profit and growth for community financial ins tu ons. The Kasasa rela onship pla orm provides unprecedented access to world-class marke ng, product development, web design, training, compliance, research, and customized consul ng. We u lize deep banking, financial services and marke ng exper se to make nearly 750 community financial ins tu ons the topic of conversa on for happy consumers na onwide. For more informa on, visit, or visit them on Twi er @Kasasa, Facebook, or LinkedIn.

Notification of Non-Renewing S.C. Bankers Association Members As the 2016-17 fiscal year begins, the South Carolina Bankers Associa on reports that the following companies are no longer SCBA Associate Members. Please update your lis ngs to reflect these changes. We thank these companies for their past support. The SCBA would welcome each of them to rejoin the Associa on as Associate Members. The non-renewing companies are: • Greystone Servicing Corp.; • McNair, McLemore, Middlebrooks & Co., LLC; • Na onal Guardian Life Insurance; • Price Waterhouse Coopers, LLP; • Priority Payment Express Systems;

• • •

SnapCap; USDA, Rural Development; and WolfPAC Integrated Risk Management. SCBA Services Inc. is dedicated to reducing the costs of products and services for South Carolina banks. To find out more about SCBA Associate Membership or to become a Preferred Vendor, please contact SCBA Senior Vice President Carolyn Laffi e at 803.779.0850 or through email at carolynlaffi

Welcome New Associate Members NetSpend, A TSYS Company 4501 North Point Parkway, Suite 500 Alphare a, GA 30022 Phone: 800.421.5613 Contact: Lacey Daniel Email: Website: NetSpend, A TSYS Company, provides commercial prepaid solu ons to businesses. Our goal is to help companies reduce the burden of paper payments and to offer their employees a smart and easy way to take control of their money. Our commercial prepaid soluons include the Skylight PayOp ons

Program, Tip Network and the SmartOne Prepaid Program. The Skylight PayOp ons Program includes tools that help companies reduce paper checks and move towards electronic payroll including the distribu on of ps to employees. NetSpend’s innova ve Tip Network program allows managers to calculate, track, and distribute credit & debit card ps to employees’ paycards. Our SmartOne Prepaid Program offers customizable, incen ve, award and disbursement cards to deliver corporate funds to employees and customers. TransFund Financial BOk Tower-14 SW Tulsa, OK 74103

Phone: 859.620.3735 Contact: Robert Wainsco Email: rwainsco Website: For more than 40 years, TransFund has been a symbol of convenience and service for community banks and their cardholders. The Tulsa-headquartered company is a top-10 ATM and debit card network delivering superior EFT products and services, along with unique debit card solu ons to a ract new customers, reduce program costs and maximize your program’s revenue.

Hill Past, Present and Future It was during Hill’s me at Rock Hill Naonal that he first became involved with the SCBA, through the Young Bankers Division. Hill would go on to chair the South Carolina Bankers School before eventually joining the SCBA’s board of directors. Hill has great respect for the Associaon and what it does for the industry and the state. “Many of the former chairmen are people I know well,” he said. “Some have been Hill instrumental in helping me through the years and all are people for whom I have tremendous respect. It is an honor to be a part of the legacy of leadership of the SCBA.” Hill said he has but one goal as chairman of the SCBA: “To ensure we are mee ng the needs of our Associa on members and protec ng the strong banking founda on we are fortunate to have in South Carolina.” Today, the market share of SCBA’s member banks remains near an all- me

high, at more than 99 percent of South Carolina deposits; associate membership is at an all- me high; and the SCBA Educa on Founda on, money that goes to fund scholarships for the students of employees of SCBA-member banks, has grown to more than $900,000. Hill said he is fortunate that the SCBA has a good board, a good CEO and a good staff, all of which makes his job as chairman easier. “As chairman of the SCBA, I believe my primary responsibility is to work with our board to ensure we are serving our state and member banks well by having the right goals and priori es,” he said. “I am fortunate to have Fred Green’s leadership as CEO, the great employees of the Bankers Associa on and many bankers across the state who do the hard work and make it all happen,” he added. Hill, who won’t turn 50 un l October, is willing to proffer advice if pressed. “I think having a successful career and a successful life go hand in hand,” he said. “Set your goals early, keep your priori es in order and never compromise your values. Regardless of your industry or specific job, this will always serve you well.” There will never be a shortage of posi-

ons for talented individuals willing to learn and adapt, Hill added. “I see talent and technology as the key drivers of any bank’s success going forward, but the most important is the ability to develop and hire talented people,” he said.

‘Set your goals early, keep your priori es in order and never compromise your values. Regardless of your industry or specific job, this will always serve you well.’ –Robert Hill South State Bank CEO & SCBA Chairman “We have always operated under the principal of first ‘who’ and then ‘what.’ The right people with similar goals and values are the best way to determine which direc on we need to go to be successful,” he added. 29


Most Americans Expect Cashless Economy in Future WASHINGTON, D.C. – Nearly two in three Americans – some 62 percent – expect the U.S. to become a cashless society in their life me, with all purchases being made with credit cards, debit cards and other forms of electronic payment. They express these views as more Americans make payments from an expanding menu of electronic op ons, and fewer make cash transac ons, and as younger popula ons are becoming more comfortable without cash in their pockets. Gallup asked Americans in a June 2223 survey about their opinions of cash and its future role in the economy. Solid majori es in all age groups say they can foresee a U.S. society without cash, including 58 percent of those 65 and older and 63 percent of 18- to 29-yearolds. As Americans move away from using tangible currency for their transac ons,


the majority (54 percent) s ll say they like to have cash on them at all mes. Forty-two percent say they are comfortable not having cash on them. Younger Americans between the ages of 18 and 29 are the most likely to be comfortable not having cash. Americans aged 30 and older – including more than six in 10 among the oldest Americans – say they would prefer having cash on them at all mes, as opposed to not having cash. Young adults’ greater comfort in being cashless aligns with their selfreported behavior. They are using cash in a significantly smaller propor on of transac ons than they were even five years ago, so they are clearly adap ng to spending without cash. While older adults generally like to have cash always on hand, this does not mean they like to carry the most cash. Instead, those aged 30 to 49 like to have the most on hand, averaging $61.73.

That is more than double the average amount of cash 18- to 29-year-olds like to carry. The ages of 30 to 49 are largely considered the peak earning years and the prime child-rearing years. Therefore, for those in this group, their rela vely high amount of desired walking-around money may derive from both supply and demand – they have access to more money, and they likely have more reasons to spend it. Most Americans can already foresee a me when cash will be obsolete. Cash is becoming less a part of Americans’ purchasing behavior as they gravitate toward other payment op ons and shi toward online purchases, rather than transac ons in a brick-and-mortar store. Younger American customers’ lower likelihood to use cash and greater comfort with not having it on hand suggest that the economy will have to adapt.


S.C. Banks Join to Help Residents with Fiscal Security The city of Columbia and several banks have begun a program geared to assist individuals in becoming financially stable. “Bank On Columbia,” begun in January 2016, was started by the city’s Community Development Department, along with representa ves of three banks: BB&T, State State Bank and TD Bank. “Basic elements of Bank On Columbia include a workshop series that teaches people the basics of available banking services and how to manage their accounts, an affordable home loan program and individuals development accounts,” according to the Columbia

Regional Business Report. The program offers individuals who may not have had banking accounts and those looking for another opportunity at opening accounts low- to no-cost checking and savings. The idea is to steer them away from high-cost services offered by payday lenders, tle loan companies and pawn shops. The program is open to those living within the Columbia city limits, but restric ons apply. Par cipants will be advised to take part in the Start Fresh! Financial Educa on Workshop Series, which will begin early next year.

The series offers informa on on banking, budge ng, establishing and building credit and home ownership. The educa on aspect is an essen al component to making Bank On work, Nate Barber, senior vice president at South State Bank, told the publica on. Barber became aware of Bank On when South State acquired The Savannah Bank in 2012. A number of Savannah banks had joined together to offer no- and lowcost checking accounts for those who had never had bank accounts, or who had had trouble managing accounts previously.

SCBA Extends Thanks to New, Current, Past Board Members The South Carolina Bankers Associa on would like to recognize its 2016-17 Board of Directors. New members were approved at the 2016 SCBA Annual Conven on, held June 12-15. Chairman: Chairman-Elect: First Vice Chairman: Treasurer: Immediate Past Chairman: 2nd Immediate Past Chairman: Group I Director: Group II Director: Group III Director: Group IV Director: Group V Director: Group VI Director: Members-at-Large:

Division Representa ves: Community Bankers Council: South Carolina Bankers School: Young Bankers Division:

Robert R. Hill, Jr. R. Thornwell Dunlap, III David L. Morrow Samuel L. “Sam” Erwin David M. Lominack H. Blake Gibbons, Jr. Randy K. Dolyniuk James A. Benne Paul R. Dusenbury John S. Poole Rick L. Beasley W. Jennings Duncan Jan M. Malinowski S. Mark Munn Charles F. Rivers III James B. “Jim” Smith Gwen M. Thompson David R. Torres

South State Bank Countybank CresCom Bank United Community Bank TD Bank, N.A. The Ci zens Bank CoastalStates Bank First Ci zens Bank VistaBank Carolina Alliance Bank Carolina Bank and Trust The Conway Na onal Bank Palme o State Bank Bank of America BNC Bank Sandhills Bank Clover Community Bank SunTrust

Columbia Greenwood Charleston Greenville Greenville Olanta Hilton Head Isl. Columbia Aiken Spartanburg Darlington Conway Beaufort Charleston Charleston N. Myrtle Beach Clover Greenville

K. Wayne Wicker Edward McKelvey, Jr. Blake G. Taylor

South Atlan c Bank South State Bank Southern First Bank

Myrtle Beach Charleston Columbia

The South Carolina Bankers Associa on would also like to thank those board members whose terms ended on June 30, 2016: Art Seaver, Jr. Southern First Bank Greenville H. Richard Sturm Ameris Bank Columbia Thomas E. Felder S.C. Community Bank Columbia Chris Verenes Security Federal Bank Aiken Sara B. Fisher NBSC, a division of Synovus Columbia Grier Sandifer Bank of York York Glenn D. Buddin Blue Ridge Bank Walhalla John C. Griggs III NBSC, a division of Synovus Columbia 31

Good Samaritans Anderson Brothers Bank Anderson Brothers Bank recently made a $1,000 dona on to Vital Aging of Williamsburg County Inc. to be used toward the purchase of a newer vehicle to ensure delivery of services to the county’s elderly community. Vital Aging of Williamsburg County is a small charitable organiza on providing cri cal nutri onal and aging service to low-income senior ci zens of Williamsburg County. Each week the agency provides meals to approximately 200 homebound seniors and operates three wellness centers. The agency also provides informa on, referral and assistance to seniors at no charge. Given Williamsburg County’s size, providing such services places a heavy toll on organiza on’s vehicles. The dona on will help Vital Aging of Williamsburg County purchase a newer van to replace one of its well-traveled current vehicles.

the Tory Burch Founda on Capital Program to connect more women small business owners to affordable capital through community development financial ins tu ons. The program has been launched in 17 states, including South Carolina. Since the program was announced in early 2014, $10 million has been loaned to women entrepreneurs. The bank will increase program funding to $20 million for loans in 2016 and 2017. The Tory Burch Founda on Capital Program is a partnership between Bank of America and the Tory Burch Founda on that aims to increase the number and size of businesses owned and led by women, crea ng communi es of women entrepreneurs. The program connects women business owners with affordable loans that are administered through local CDFIs, which provide capital and financial services to underserved markets and popula ons, including women entrepreneurs.

First Ci zens Bank First Ci zens Bank has donated $5,000 to Plant it Forward South Carolina, an ini a ve by S.C. Advocates for Agriculture. “First Ci zens Bank is honored to support the Plant It Forward Relief Fund,” said Chris Bradham, manager of Agricultural Business for First Ci zens Bank. “Agriculture is a vital part of the communi es we serve throughout South Carolina, and many of these communi es would not survive without farmers. At First Ci zens, we are commi ed to the success of our farm clients and the rural communi es that rely on them.” Plant it Forward SC will provide relief funds specifically for covering a por on of seed costs for 2016, as well as hay losses livestock farmers suffered because of flooding last fall. Total agricultural losses from October’s flooding are approaching A blood drive hosted at Anderson Brothers Bank conference $600 million. center in Mullins “On behalf of proved a big sucSouth Carolina cess as the ins tufarmers, I cannot on’s goals were exthank First Ci zens ceeded and 23 units Bank enough for of blood donated. their generous Jessica Graham, dona on to Plant HR/BSA administrait Forward SC. First ve assistant, was Ci zens has a longinstrumental in standing tradi on making this blood of service to South drive a success by Carolinians and this coordina ng and further illustrates se ng appointtheir commitment ments. to serving the people of our state, par cularly the Bank of America farmers s ll trying Bank of America to recover from the announced earlier this year that Officials with First Ci zens Bank present a check to Plant it Forward South Carolina on flood,” said AgriculMay 9, 2016, in Columbia. From le are Tripp Kemp, Vince Pace and Chris Bradham of ture Commissioner it would double First Ci zens Bank, and Ronnie Summers of S.C. Advocates for Agriculture. Hugh Weathers. its investment in Anderson Brothers Bank recently donated one of its Mullins buildings, located at 501 E McIntyre St., formally Old Mullins Lumber Co., to Marion County for future use by the Marion County Animal Shelter. The 12,000-square-foot building, located on 6.37 acres, was deeded to Marion County with plans for the structure to serve as its animal shelter. Current plans call for the building to be renovated and space to expand and accommodate the current animal shelters needs for more room and be er environment for its occupants. The property has enclosed fencing around the rear to provide much-needed space for turnouts or runs for its large dog popula on along with an exis ng shelter for addi onal expansion.


South Carolina Bankers Association Education Calendar For more information, contact Anne Gillespie by phone at 803.779.0850, or by email at

September 2016 Call Report Seminar Date: Sept. 15, 2016 Loca on: Inn @ USC Wyndham Garden Columbia, S.C. Bank Security Risk Management Conference Date: Sept. 21, 2016 Loca on: Columbia Marrio Columbia, S.C. CFO Conference Date: Sept. 22, 2016 Loca on: Columbia, S.C. Women in Banking Symposium Date: Sept. 28-29, 2016 Loca on: The Omni Charlo e, N.C.

October 2016 Young Bankers Scholarship Golf Tournament Date: Oct. 3, 2016 Loca on: Columbia Country Club Blythewood, S.C. Consumer Lending School Date: Oct. 19-20, 2016 Loca on: Columbia, S.C.

November 2016 Community Bankers Forum Date: Nov. 3, 2016 Loca on: Columbia, S.C. Fall Compliance Conference Date: Nov. 9, 2016 Loca on: Columbia, S.C. Credit Conference Date: Nov. 10, 2016 Loca on: Columbia, S.C. Economic Developers Oyster Roast & Conference Date: November 2016 Loca on: TBD

December 2016 CECL Seminar Date: Dec. 1, 2016 Loca on: Columbia, S.C.

January 2017 Legisla ve Recep on Date: Jan. 10, 2017 Loca on: Columbia, S.C. BSA/AML Conference Date: Jan. 25-26, 2017 Loca on: Courtyard Columbia Downtown @ USC Columbia, S.C. Commercial Lending School Date: Jan. 31-Feb. 2, 2017 Loca on: Columbia, S.C.

February 2017 Banking Careers 101 Date: Feb. 8, 2017 Loca on: Seawell’s Columbia, S.C. Safety & Soundness Workshop Date: Feb. 9, 2017 Loca on: Columbia, S.C. Human Resources Conference Date: Feb. 16, 2017 Loca on: Columbia, S.C.

March 2017 Young Bankers Conference Date: March 10-12, 2017 Loca on: Ritz-Carlton Reynolds, Lake Oconee, Greensboro, Ga. Directors & Managers Workshop Date: March 14, 2017 Loca on: Columbia, S.C. Washington Summit Date: March 20-22, 2017 Loca on: Washington Marrio Marquis Washington, D.C. Spring Compliance Conference Date: March 2017 Loca on: Columbia, S.C.

April 2017 Bank Opera ons Conference Date: April 6, 2017 Loca on: Columbia, S.C.

South Carolina Bankers Associa on (2009 Park Street) Post OďŹƒce Box 1483 Columbia, South Carolina, 29202-1483

Palmetto Banker Summer 2016  
Palmetto Banker Summer 2016