Palmetto Banker TWO 2023

SOUTH CAROLINA BANKERS ASSOCIATION

Issue Two 2023

YOUNG BANKERS DIVISION ANNUAL Scholarship

Golf Tournament

Savedate the

MONDAY, OCTOBER 2, 2023

COLUMBIA COUNTRY CLUB

BLYTHEWOOD, SC

Join in the fun and help raise funds for scholarships to present to deserving college students of SCBA-member bank employees. The Bankers Association believes offering scholarships to children of bank employees helps demonstrate its appreciation to member banks and their employees, and serves as a means for building a path to a better, more prosperous South Carolina. Please visit scbankers.org for more information, sponsorship opportunities and tournament registration.

First Vice Chair

Treasurer

Synovus

Jennifer T. Jones, CBL State Savings Bank

H. Richard Sturm, Ameris Bank

Immediate Past Chairman .............................................. K. Wayne Wicker, South Atlantic Bank

2022-23 SCBA BOARD OF DIRECTORS

Second Immediate Past Chairman

President & CEO

James A. Bennett, First Citizens Bank

Fred L. Green III, South Carolina Bankers Association

Directors.........................................................................

Marc J. Bogan, Bank of the Lowcountry

Stacy B. Brandon, Bank of America

Renee R. Brooks, SouthState Bank

Richard D. Burleson, Community First Bank

Allan B. Carter, Kingstree Federal Savings & Loan

J. Holt Chetwood, First Citizens Bank

Rufus T. Dunlap V, Countybank

Michael E. Edens, First Reliance Bank

Mary D. Garcia, Pinnacle Financial Partners

C. Justin Hawkins, Wells Fargo

M.J. Huggins III, United Bank

J. Reeves Skeen, First Citizens Bank

Samuel R. Small, Jr., First Palmetto Bank

C. Kyle Thomas, Blue Ridge Bank

Philip R. Wahl II, Security Federal Bank

2022-23 COMMUNITY BANKERS DIVISION BOARD

Chairman

Immediate Past Chairman

Directors

Michael E. Edens, First Reliance Ban

Curtis T. Evatt, Oconee Federal Savings & Loan

Kenneth M. Harper, Countybank

Will Holmes, First Carolina Bank

Jamin M. Hujik, The Southern Bank

Joseph S. Kassim, First Capital Bank

Coleman A. Kirven, The Peoples Bank

Brooks Melton, Beacon Community Bank

Dominik Mjartan, Optus Bank

R. Scott Plyler, South Atlantic Bank

James B. Smith, The Citizens Bank

Eugene H. Walpole IV, The Bank of South Carolina

2022-23 BANKERS SCHOOL BOARD

Chair ....................................................................................

Chair-Elect

J. Reeves Skeen, First Citizens Bank

John M. Leighton, SouthState Bank

Immediate Past Chair

Thomas C. Anderson, Jr., First Palmetto Bank

Marvin E. Robinson, Jr., Ameris Bank Directors

Nathan T. Crowe, Security Federal Bank

Mary D. Garcia, Pinnacle Financial Partners

Kenneth M. Harper, Countybank

Robert P. Hucks II, Coastal Carolina National Bank

Joseph A. Painter, First Community Bank

Michelle B. Seaver, United Community Bank

Allison P. Stout, South Atlantic Bank

Course Coordinators

James R. Clarkson

John C. Griggs III, Synovus

W. David Keller, The Citizens Bank

Ford P. Menefee, The Bank of South Carolina

2022-23 YOUNG BANKERS DIVISION BOARD OF DIRECTORS

Chair Rufus T. Dunlap V, Countybank

Chair-Elect

First Vice Chairman

Directors

B. Oneal Staples, Ameris Bank

Othniel W. Laffitte, First Bank

M. Charles Abbott, Jr., Carolina Bank & Trust Co.

Reid J. Boehm, Synovus

Margaret C. Harken, The Bank of South Carolina

Vaughan R. Dozier, Jr., First Community Bank

Margi M. Fleming, The Citizens Bank

Austin J. Goforth, First Palmetto Bank

Lauren D. Greene, First Citizens Bank

Mallory Holley, Security Federal Bank

Joseph H. Hyman, The Conway National Bank

Everette J. Livingston, First Citizens Bank

S. Alexis Matthews, The Peoples Bank

Charles H. Redmond, SouthState Bank

M. Brice Sprayberry III, United Community Bank

THRIVING TOGETHER: Leaders

Forge Lasting Friendships

We are coming off a great Annual Convention as we go to print with this edition of the Palmetto Banker. Our next edition will be dedicated to our Annual Convention and will feature articles from both our Immediate Past Chairman, Fleetwood Hasell, and our current Chairman, Boyd Jones.

Fleetwood Hassel was the 123rd Chairman of the SCBA, and his term ended on July 1, 2023. Fleetwood presided over our convention and gave a review of our accomplishments during his term. We will detail some of his comments in the next edition, but I will simply add that it was a very successful year.

His last action item during the convention was to “pass the gavel” to the 124th Chairman of the SCBA, Boyd Jones. Boyd’s remarks were dedicated to the year ahead and will be more detailed in the next Palmetto Banker.

A few years back, our then Chairman asked me what it is like having a “new boss” each year. During my tenure with SCBA, we have had 13 different Chairmen. Although they have been executives of different size banks in different markets, they have all been very similar in their dedication to our industry. They have all

been very engaged, active, and energetic. Each one has made us a better Association.

So in answering the question about having a “new boss” each year, it has been great! In addition to their leadership on the business side of our Association, I have also enjoyed a close personal friendship with each one. Not only have we enjoyed a great amount of interaction during their term, we have maintained that close relationship, both business and personal, after their term as Chairman ends.

In closing, I thank Fleetwood Hassell, and all the Chairmen that preceded him, for their leadership and friendship. And I look forward to working more closely with Boyd Jones this year, as well as those that follow him in future years.

Everyone knows that all businesses, whether a forprofit or an association, are only as good as their people. We have always been fortunate to have great volunteer leaders in the SCBA and their involvement and dedication has helped make us a great Association for our members.

I hope everyone will enjoy the balance of this summer and will enjoy spending time with family and friends.

Fred L. Green III, President & CEO South Carolina Bankers Association

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AMERICA’S BANKS are

Stronger Together

The U.S. banking system has long been the envy of the world. The reasons for this are many, but at the core, it’s because our nation has cultivated a vibrant, thriving financial services sector made up of banks of all sizes, charters, business models and risk profiles.

Each one of these institutions has an important role to play in the overall economic ecosystem: from the community bank guiding a family through the purchase of a first home, to the midsize bank helping a small business manage its cashflows, to the regional bank providing commercial loans to promote the building of new retail centers and office spaces, to the large, globally active institution that supplies credit to multinational firms that provide thousands of jobs in the U.S.

The breadth and diversity of our financial services sector is something no one should ever take for granted.

That’s why ABA joined forces with the nation’s 51 state bankers associations to deliver a powerful message to members of Congress in the aftermath of the Silicon Valley Bank and Signature Bank failures

in March: the U.S. banking system remains the deepest and most resilient in the world, and policymakers in Washington need to keep it that way for the good of the country. That message continues to hold true in the wake of the unfortunate failure of First Republic Bank in early May.

The sudden and swift collapse of these institutions is something that both banks and bank policymakers can and must learn from. But in recent days, there have been some in Washington who have seized this opportunity to advance misguided policy proposals—many of which have nothing to do with the failures of these banks. These include proposals that would make it significantly harder for community banks to compete, and new capital requirements for larger banks that would limit their ability to lend at a time of economic uncertainty.

The policy response to these failures should not place America’s competitive, thriving banking system at risk. Rather, we must seek solutions that preserve that competitive landscape and ensure that banks of all sizes with diverse business models are allowed to compete and

nichols@aba.com

succeed in serving the needs of their communities.

To achieve that goal, we all must stand together as an industry, and resist efforts to divide us.

Past experience has taught us that we are stronger and most effective in our advocacy when we speak with one voice, and that there can be harmful consequences when we don’t.

In the days to come, there will be many conversations about the future of banking regulation, about potential changes to the deposit insurance system and what we can do to preserve the depth and diversity of our banking system.

By speaking with a united voice on these and other issues, we can move our industry forward and work with policymakers to understand what happened at SVB, Signature and First Republic, but, even more importantly, we can reinforce the overwhelming strength and resilience of the U.S. banking sector and lift up the work our nation’s banks do every day to make our communities better.

Rob Nichols, President and CEO American Bankers Association

SCBA Tackles Critical Banking Issues IN SUCCESSFUL LEGISLATIVE SESSION

The 2023-24 legislative session promised to be a busy one for SCBA, and the first year of the session certainly was. Going into the year legislators were already discussing issues such as corporate tax reform, ESG and consumer rate loan caps; and the credit unions had openly stated they would continue to pursue legislation negative to banking. With exception to corporate tax reform, bills were introduced and pushed on all of these issues and SCBA’s legislative strategy was primarily defensive. SCBA also had success on offense as Chairman Sandifer introduced, and Governor McMaster signed, an SCBA bill that allows South Carolina corporations to have virtual annual shareholder meetings. The busy legislative session and these banking issues are summarized below.

House Subcommittee Votes Down Bill Allowing Credit Unions To Purchase Banks

Similar to their Senate bill in 2022, the credit unions proposed a House bill (H4238) in 2023 that would allow a credit union to purchase a state-chartered bank’s assets; and just like with the 2022 Senate bill, after significant SCBA opposition, the bill did not go forward. A House Labor, Commerce, and Industry banking subcommittee voted H4238 down 4-3.

H4238 was introduced in late March but this year’s bill did not limit purchasing a bank to just South Carolina headquartered credit unions as the Senate bill did; instead, it allowed out-ofstate credit unions to purchase South Carolina banks. The bill

also added language that effectively eliminated the State Board of Financial Institutions’ ability to review a proposed purchase, and added that any federal law or National Credit Union Association regulation would automatically apply to South Carolina statechartered credit unions, without any review by either the General Assembly or the State Board of Financial Institutions.

The subcommittee met on April 27th, taking almost three hours of testimony from representatives for the banking industry and credit unions. Present to testify for banking were Tommy Bouchette of The Citizens Bank, Grier Sandifer of Bank of York, and Jim Bennett of Spratt Savings and Loan. Fred Green and Neil Rashley of SCBA also testified on H4238’s negative effect on banking and local communities.

Tommy Bouchette, The Citizens Bank

Grier Sandifer, Bank of York

Neil Rashley, South Carolina Bankers Association

Bankers emphasized that large credit unions leverage their tax-exempt status to create a significant competitive pricing advantage, a 30% difference, over banks when offering to acquire another bank. Thus, allowing a credit union to buy a bank would not create parity, as insisted by the credit unions, but would only further distort the pricing advantages credit unions have over banks due to their tax-exempt status.

This price advantage was not the only problem pointed out by bankers. When a credit union purchases a bank, then that bank’s market would have one less financial institution that is required to comply with the Community Reinvestment Act. The lack of a CRA-compliant bank in a market has a significant negative impact on low and moderate income communities, especially rural ones. Finally, testimony focused on how H4238 would dramatically expand credit unions’ field of membership, especially the section of the bill that automatically adopted NCUA regulations and limited the Board of Financial Institutions’ scope of review.

After all of the testimony the subcommittee voted the bill down 4-3, ending it for the year. Although SCBA was successful in pushing back on this issue yet again, bankers should be mindful that the session is only in its first year and the credit unions will continue to push for legislation like this to increase their size, field of membership, and business lending opportunities.

ESG — Numerous Bills In 2023 — But Only One Moves Forward

Bills addressing banks using Environmental, Social, and Governance (ESG) factors were numerous throughout the states and South Carolina, mainly in response to proposals by Congress and federal regulators that required banks to take into account ESG factors in making various banking decisions. Although

many of the South Carolina bills’ intent was to ensure that banks treated consumers and businesses fairly when making business decisions, these bills also did not take into account how banks assess risk, determine market presence, decide how on what types of loans and businesses to concentrate on, and ultimately operate in a safe and sound manner.

There were eight ESG bills this session, varying from prohibiting banks from using ESG or other social factors in making banking decisions, to prohibiting the state from doing business with banks that economically boycott certain industries such as energy-based or firearms industries. However, only one bill moved forward, H3690; a bill that required the Retirement System Investment Commission to use pecuniary factors when making investment decisions. Even though H3690 did not affect traditional banking, it still has not passed and is presently on the Senate calendar with objections. Still, SCBA remained busy throughout the session opposing and weighing in on other ESG bills. Three Senate ESG bills were the most significant - S583, S111, and S559.

On April 11th, a Senate Finance subcommittee met to consider S583, with SCBA testifying in opposition to the bill. A significant portion of S583 proposed that all banks doing business in South Carolina disclose in bold terms on their website, marketing communications, and in all consumer and commercial loan documents and decisions, if they take into account the nature and character of a business or customer in determining interest rates, making loan decisions, or providing other services. SCBA stressed that “Character” is one of the five C’s of credit and that not only do banks regularly assess character, but federal regulations even require it. If S583 had passed South Carolina banks would have been mandated to add considerable disclosures on all communications with customers and businesses, greatly increasing compliance costs and causing confusion for customers and the public. The subcommittee declined to go forward on

Fred Green, South Carolina Bankers Association

S583. S583 did include a proposal, not objected to by SCBA, similar to H3690 concerning the Retirement System Investment Commission but that issue was handled through H3690.

S111 proposed hefty fines up to $250,000 for any bank that used “social credit scoring” in making banking decisions, although “social credit scoring” was never defined. S559 required banks to use only “quantitative” and “risk-based factors” when making banking decisions but did not have penalties - compliance was left to banking regulators to examine whether banks were assessing the quality or character of a customer or business and then to publically disclose this. Even without statutory penalties, S559 would have negatively affected how banks assess risk and credit, contrary to sound banking practices and regulatory requirements. SCBA lobbied against both S111 and S559 and neither was set for a subcommittee hearing this session.

ESG is not an easy subject to legislate or establish policy for as there is no set, precise definition for either the overall concept of ESG or its different elements. What is more, policymakers from different political persuasions often approach the issue in opposite ways but do not take into account how these proposals would negatively affect traditional banking. Although ESG bills affecting banking did not move forward in 2023 the issue is still active in news and politics. Bankers should anticipate the issue will come back in 2024 and should continue to educate their elected officials on what banks actually do and how these proposals could harm banking in their communities.

Consumer Loan Rate Caps With A Twist — As An Unfair Trade Practice

Capping consumer loan rates was proposed last session but not taken up. It returned this session, but instead of amending South Carolina’s Consumer Protection Code to accomplish this, the traditional method, S518 proposed that if a consumer loan’s APR, using the federal military APR calculation, is 36% or more, then making that loan would be considered an unfair trade practice and the consumer or the Attorney General could sue the lender and receive treble damages as well as attorney fees. SCBA immediately opposed S518 since it exposed banks to litigation risk and that risk would have restricted a bank’s ability to make small dollar loans as an accommodation to its customers. SCBA’s position was that banks don’t necessarily make small dollar loans

as part of a business model, but often do so to meet customer needs. Exposing the bank to litigation risk for making a small dollar loan would cause the bank to not do so and diminish overall access to credit. Four Senate subcommittee hearings were held with considerable testimony from consumers and also small dollar lenders. At the last meeting, the subcommittee voted to carry the bill over until next year, ending the issue for 2023.

Success On Offense: Governor Signs Remote Annual Shareholder Meetings Bill

Playing defense was SCBA’s primary legislative strategy this session but there was opportunity on offense and SCBA successfully lobbied for a bill that allows South Carolina chartered corporations to virtually conduct their annual shareholder and special meetings, instead of in-person. Until H4049 was signed this year, South Carolina was one of only two states that still required corporations to conduct these meetings in-person. This oversight came to a head when COVID-19 hit in early 2020 and many South Carolina corporations, particularly banks, struggled to conduct these meetings in-person. H4049 was sponsored by Representative Bill Sandifer who led it through the House; Senator Davis gave considerable assistance in the Senate and got the bill out in time for passage. With Governor McMaster’s signing of H4049, both annual shareholder meetings and special meetings can be held virtually as long as the board approves it and proper notice is sent. Similar provisions were adopted for non-profits.

Expectations For 2024

The second year of the session begins on January 9, 2024, and all unfinished 2023 legislation will start back at the same position it was in at the end of the 2023 session. 2024 is also an election year for both the House and Senate so there will be considerable legislation with that in mind. Corporate tax reduction may be an issue and, if so, SCBA will continue to advocate for an equal reduction in the bank franchise tax. Even though the bills on ESG, credit unions, and small dollar loan rate caps did not significantly move forward, SCBA anticipates that these issues will remain active in 2024. If you have questions on any of this legislation or other issues, please contact Neil Rashley at nrashley@scbankers.org.

Montague Laffitte | SouthState Bank | SSBCI Brandi Grim | First Citizens Bank | SC CAP

J. Huggins | United Bank | SBA 504

Rick Saunders | First Reliance Bank | SBA 7(a)

Financial Literacy Month

APRIL

Bankers teaching children financial literacy is an excellent way to equip them with essential life skills. Starting at a young age, learning about money management, saving, and budgeting can lay a solid foundation for their financial future. Bankers can educate children on basic concepts such as the value of money, the importance of saving, and making wise spending choices. By teaching children about financial responsibility and the benefits of long-term planning, bankers can help them develop good habits and a strong understanding of personal finance. These lessons can empower children to make informed decisions and build a strong financial future as they grow into adulthood. Following are some examples of how South Carolina Bankers helped children in their local communities.

2,778

Patrice Freeman,

for

Elementary School to speak with students about the importance of banking. Inspired by the conversation, one student got help from her mom and one of Countybank’s associates to open her very first bank account!

, visited

Oneal Staples of Ameris Bank in Lexington was able to spend time with over 170 kids at Pleasant Hill Elementary School educating them on banking and financial literacy.

Customer Relations Manager

Countybank

Hodges

25 PRESENTATIONS

In South Carolina, First Bank accomplished the following:

1ST−12TH GRADES

2200+ STUDENTS

$25,000 GIVEN TO SC SCHOOLS

Harbison West Elementary School students received a special gift from First Community Bank, Irmo, in recognition of Financial Literacy Month. Each of the students received their own copy of a book with the purpose of educating them about the value of saving. First graders received Curious George Saves His Pennies from Master Sgt. & Paralender, Latonya West (left), while second graders received The Berenstain Bears’ Dollars and Sense from teller, Alexis Cruel (right).

Tammy Jones and Cyndi Evans of The Citizens Bank, brought “Teach Children to Save” into four different classes at Hannah-Pamplico Elementary and Middle school. They had a total of 60 children and 6 teachers. Tammy read them the “Silly Sam” story on savings and the children had a million questions!

Richard Bradshaw, President and Chief Banking Officer at United Community Bank, had the privilege of visiting two schools in the Greenville area during Financial Literacy Month where he shared 4 basics of money management: 1) spend cautiously, 2) save diligently, 3) invest wisely, and 4) give generously. He said, “I’m amazed at how foundational those things are – even after 30+ years in banking. It’s simple but solid advice you can build on your entire life. We handed out piggy banks to the kids (two of which were my grandchildren!) to help them get started with the ‘saving’ part.”

Margi Fleming of The Citizens Bank taught 75 fourth graders at Walker Gamble Elementary School in New Zion, SC about the importance of making wise financial choices and how important it is to SAVE money.

Susie Alexander of The Citizens Bank taught at Walker Gamble Elementary for “Teach Children to Save Day.” She taught 4K, first grade, and second grade about the importance of saving!

Lauren Furniss of The Citizens Bank, went to Lugoff Elementary for “Teach Children to Save.” She presented “Sam’s Silly Saving Spots” to 25 first grade students and gave them all coloring books.

Sharon Greene and Darkon Hudson of The Citizens Bank, taught 130 third, fourth, and fifth graders at Brockington Elementary how to save money! These interactions have a lasting impact on students of all ages around South Carolina.

Eight South Carolina Bankers Receive Diplomas from the Graduate School of Banking at Louisiana State University

On June 2, 2023 one hundred and sixty-eight bankers received graduation diplomas from the Graduate School of Banking at Louisiana State University. This three-year program provides courses covering all aspects of banking, economics and related subjects. Students traveled from nineteen states, the District of Columbia, and Mexico to participate in this Session.

Sponsored by 15 southern-state bankers associations in cooperation with the Division of Continuing Education

at LSU, the Graduate School of Banking at LSU requires attendance on campus for three annual sessions, with extensive bank study assignments between sessions. The faculty is comprised of more than 50 bankers, business and professional leaders, and educators from all parts of the U.S. During their three summer sessions at the Graduate School of Banking, students receive 210 hours of classroom instruction, planned evening study, and final examinations at the end of each session.

For more information on the Graduate School of Banking at Louisiana State University and how to apply: www.gsblsu.org.

Congratulations to our South Carolina Graduates:

Thank You.

Thank you to the following institutions, their directors and employees who supported the banking industry by contributing to the 2022-23 SCBA BankPAC campaign. Your support is graciously appreciated.

Ameris Bank

Anderson Brothers Bank

Arthur State Bank

Bank of America

Bank of Clarendon

Bank of the Lowcountry

Bank of Travelers Rest

Bank of York

CBL State Savings Bank

Coastal Carolina National Bank

Community First Bank

Countybank

Enterprise Bank of SC

First Bank

First Citizens BancShares, Inc.

First Community Bank

First National Bank

First Palmetto Bank

First Reliance Bank

Kingstree Federal Savings & Loan

Park National Bank

Pinnacle Financial Partners

Security Federal Bank

South Atlantic Bank

South Carolina Bankers Association

SouthState Bank

Synovus

The Bank of South Carolina

The Citizens Bank

TIB, N.A.

Truist

United Bank

United Community Bank

SCBA BankPAC Committee

M.J. Huggins III, Chairman United Bank Myrtle Beach

Mr. Laurence Bolchoz, Jr. Coastal Carolina National Bank Myrtle Beach

Mr. Thomas Bouchette The Citizens Bank Florence

Thomas R. Britt, Jr. Bank of Travelers Rest Travelers Rest

Mrs. Renee R. Brooks SouthState Bank Columbia

PRESIDENT’S CLUB

Anyone personally contributing $500 or more to SCBA BankPAC is recognized as a member of the President’s Club.

H. Richard Sturm, Ameris Bank

Marc J. Bogan, Bank of the Lowcountry

Bruce White, Bank of Travelers Rest

Thomas R. Britt, Jr., Bank of Travelers Rest

Jennifer T. Jones, CBL State Savings Bank

Paul J. Rogers, CBL State Savings Bank

Dennis Wade, Coastal Carolina National Bank

Gary Hadwin, Coastal Carolina National Bank

Laurence Bolchoz, Coastal Carolina National Bank

Robert Hucks, Coastal Carolina National Bank

Richard D. Burleson, Community First Bank

Michael C. Crapps, First Community Bank

Samuel R. Small, First Palmetto Bank

F. Justin Strickland, First Reliance Bank

Michael E. Edens, First Reliance Bank

John D. Kimberly, Park National Bank

Todd M. Bogdan, Park National Bank

Mary D. Garcia, Pinnacle Financial Partners

Nathan T. Crowe, Security Federal Bank

Philip R. Wahl II, Security Federal Bank

Daniel F. Siau, South Atlantic Bank

Kenneth M. Pickens, South Atlantic Bank

K. Wayne Wicker, South Atlantic Bank

Fred L. Green III, South Carolina Bankers Association

Richards H. Green, South Carolina Bankers Association

Renee Brooks, SouthState Bank

Fleetwood S. Hassell, The Bank of South Carolina

Thomas Bouchette, The Citizens Bank

Timothy W. Koch, TIB, N.A.

Charles (Jerry) Fehlig, United Bank

David L. Morrow, United Bank

Ilya Zaretsky, United Bank

James Boyd, United Bank

Jeff Benjamin, United Bank

Jerry Rexroad, United Bank

John Riddick, United Bank

Julian (Jay) Ratterree, United Bank

Kevin T. Adams, United Bank

M.J. Huggins III, United Bank

Marshall Cooper, United Bank

Nancy Bergin, United Bank

Ronnie Burbank, United Bank

Ryan Benton, United Bank

t ho that Support Banking CAMPAIGN STATS

S

2023 Young Bankers Division Annual Conference

The Young Bankers Division Annual Conference offers a unique opportunity for educational and professional development along with ample time for networking in a relaxed environment for bankers and associate members across the state. The rolling hills and peaceful setting of Lake Oconee proved to be the ideal location for our Annual Conference, despite the yellow haze of heavy pollen that filled the air!

Chair of the Division, Wells Dunlap, Senior Operations Officer at Countybank, and his wife Amanda welcomed close to 200 participants at The Ritz-Carlton Reynolds, Lake Oconee. Our lineup of speakers kept everyone’s full attention and left them wanting to hear more—from critical issues facing bankers and

the banking industry today, to the current Russian-Ukraine war situtation as told from the perspective of a former CIA Agent. On Saturday morning, Alana R. Grant, Founder of the Hate Won’t Win Movement , led an inspirational prayer breakfast, “Faith in Forward Motion.” The Conference concluded with dinner and dancing to “The Tony Howard Show” on Saturday evening.

B. Oneal Staples of Ameris Bank in Lexington, was elected to serve as Chair of the Young Bankers Division Board for the 2023-2024 SCBA year and he is excited to announce the 2024 Conference will be held at The Omni Grove Park Inn, Asheville, NC, March 8-10. Please mark these dates on your calendar and make plans to send your emerging leaders.

The goal of the Young Bankers Division is to educate and empower tomorrow’s banking and business leaders while also encouraging personal, professional and community development. What makes the Young Bankers Division and the SCBA unique is the ability for each to compete fiercely by day but to come together and interact socially by night with each other to share ideas, challenges and opportunities.

A special thanks to our many sponsors — this event would not be possible without your support!

For more information about the Young Bankers Division and/or the Annual Conference, please contact Carolyn L. Bradley, carolynbradley@scbankers.org or (803) 779-0850

2023 State House Visit

Public policies at the state and national level have a direct impact on a bank’s ability to succeed and meet customer needs. On March 8, about 20 from the Young Bankers Division met at the State House and visited with Chairman Sandifer, Chairman Newton, Chairman Cromer, and Senator Alexander, President of the Senate. When our elected officials know you and understand your business, they are far more likely to approach policy development in a manner that can reduce your risk.

If you are an emerging leader interested in joining this important initiative and maximizing your voice, please contact Carolyn L. Bradley, carolynbradley@scbankers.org or (803) 779-0850

TO OUR 2023 PALMETTO SCHOLARSHIP RECIPIENTS

1ST FEDERAL SAVINGS BANK OF SC, INC.

Lyndsay Dalton, University of South Carolina, daughter of John Dalton

ANDERSON BROTHERS BANK

Cameron Carsten, Wofford College, son of Jamie Carsten

BANK OF AMERICA

David Chakeris, University of South Carolina, son of Costa Chakeris

Hannah Gerlach, Clemson University, daughter of Dawn Smith

Skylar Hubbarth, Clemson University, daughter of Joseph Hubbarth

Serena McAlhany, Clemson University, daughter of Shawn McAlhany

Savannah McAlhany, Clemson University, daughter of Shawn McAlhany

Logan Miller, Coastal Carolina University, son of Christine Miller

Kristina Peay, Lander University, daughter of Michelle Peay

Laurel Raxter, College of Charleston, daughter of Jeremy Raxter

BANK OF THE LOWCOUNTRY

Katie Bogan, Clemson University, daughter of Marc Bogan

Caleb Hudgens, Charleston Southern University, son of Charles Hudgens

CBL STATE SAVINGS BANK

Brett Jackson, Coastal Carolina University, son of Rhonda Jackson

COASTAL CAROLINA NATIONAL BANK

Logan Reed, Clemson University, daughter of Betsy Reed

COASTAL STATES BANK

Megan Spiehs, University of South Carolina, daughter of Ric Spiehs

COMMUNITY FIRST BANK

Riley Shaw, Clemson University, daughter, Randy Shaw

CONWAY NATIONAL BANK

Chloe Holmes, University of South Carolina, daughter of Freeman Holmes

COUNTYBANK

Georgia Calhoun, University of South Carolina, daughter of Brandon Calhoun

Lauren Davenport, Lander University, part-time employee

Wyatt Prince, Clemson University, son of April Prince

DEDICATED COMMUNITY BANK

Payton Bryant, Clemson University, daughter of Cindy Bryant

FIRST BANK

Savannah Cannon, Erskine College, Lesley Cannon

Olivia Seward, Clemson University, daughter of Paul Seward

FIRST CAROLINA BANK

Judson Holmes, University of South Carolina, son of Will Holmes

FIRST CITIZENS BANK

Luke Groth, University of South Carolina, son of Steve Groth

Caleb Lanford, Clemson University, son of Terry Lanford

Ramsey McIntyre, University of South Carolina, daughter of Bryan McIntyre

Courtney Williamson, University of South Carolina, daughter of Blake Williamson

FIRST COMMUNITY BANK

Will McKinney, Clemson University, son of Laura McKinney

FIRST PALMETTO BANK

DuPre Eaddy, Clemson University, daughter of Paul Eaddy

FIRST RELIANCE BANK

Reagan Saunders, College of Charleston, daughter of Rick Saunders

Anna Star, Winthrop University, daughter of Barbara Star

PALMETTO STATE BANK

Tucker Bennett, The Citadel, son of Hal Bennett

PICKENS SAVINGS AND LOAN

Kaylee Gillespie, Francis Marion University, daughter of Tammy Gillespie

PINNACLE FINANCIAL PARTNERS

Emily Cox, Charleston Southern University, daughter of Bradley Cox

SECURITY FEDERAL BANK

Maddie Hall, Lander University, daughter of Dana Hall

Jason Lewis, Clemson University, son of Joe Lewis

SOUTHERN BANK

Noah Burgess, University of South Carolina, son of Lisa Burgess

SOUTHERN FIRST BANK

Olivia Kilton, Clemson University, daughter of Paige Kilton

Herb Kneeland, Clemson University, son of Matt Kneeland

Eleanor Kneeland, Clemson University, daughter of Matt Kneeland

McCuen Thompson, Wofford College, daughter of Robert Thompson

SOUTHSTATE BANK

Jay Ferguson, Clemson University, son of Scott Ferguson

Mia Lane, University of South Carolina, daughter of Brian Lane

Isabel Raykova, Clemson University, daughter of Genka Raykova

TD BANK, N.A.

Tyler Dail, Newberry College, son of Amanda Minor

Morgan Giard, University of South Carolina, daughter of John Giard

Mary Ashton Jenkins, University of South Carolina, daughter of Roper Jenkins

Sidney Morfin, Winthrop University, daughter of Evelyn Pellens

Maddie Williams, University of South Carolina, daughter of Roberta Williams

THE CITIZENS BANK

Marshall Floyd, Coastal Carolina University, son of Gretchen Floyd

Emma Fralix, University of South Carolina, daughter of Carmen Elliott

Jack Keller, University of South Carolina, son of David Keller

Ashley Odom, College of Charleston, daughter of Joel Odom

THE PEOPLES BANK

Andrew Carpenter, Clemson University, son of Melissa Carpenter

UNITED BANK

Joseph Bokern, Winthrop University, son of Marjorie Bokern

– Donna Major Recipient

Casey Godbold, Clemson University, daughter of Joel Foster

– Katie Skeen Recipient

I wanted to reach out and personally thank you for the lovely reception that was held May 16th at the Palmetto Club to honor the Palmetto Scholarship recipients. It was an honor for my daughter to receive one of the $1,000 scholarships and she will certainly be putting it to good use.

CECL Model Validations and Internal Audits

By: Alek Bevensee, Senior Manager, Elliott Davis

Fifteen years after the financial crisis that led to its creation and six and a half years since the issuance of ASU 2016-13, the implementation date for current expected credit loss methodology (CECL) has finally come and gone. As with many areas of CECL, regulatory guidance explaining when model validations are warranted versus when an internal audit may be appropriate, has been infrequent and ambiguous. To make this determination more confusing, there are wide-ranging definitions of the word “validation” being used by vendors across the industry. In this article, we discuss the difference between an internal audit and a validation and provide some perspective on items to be considered when making the determination as to which is more appropriate for your institution.

MODEL VALIDATION

While the specific procedures performed during a validation may vary depending on an institution’s selected methodology and model design, there are a core set of procedures that should be considered, based on guidance found in the Federal Reserve’s SR Letter 11-7. When discussing model validation procedures with institutions, we have found it easiest to bucket the validation framework into three categories:

(1)Model Governance

(2) Conceptual Design, and

(3) Technical Construct.

Those buckets can be summarized as follows:

Model Governance: Examination of the documentation, internal controls, and processes surrounding the model, including:

• Formal documentation (policies, procedures, model whitepapers, etc.)

• Internal control framework (design and operating effectiveness)

• Model oversight (by both management and the Board)

• Outcomes analysis / backtesting (design and operation)

• Sensitivity analysis / stress testing (design and operation)

Conceptual Design: Evaluation of the appropriateness and supportability of model elections and assumptions deployed, such as:

• Model methodology

• Loan segmentation

• Intentional exclusions (immaterial loan segments, securities, etc.)

• Use of peer data

• Reasonable and supportable forecast

• Simplifying assumptions / overrides

• Individually evaluated loans (methods for identification and evaluation)

• Qualitative factors (methods for selection, anchoring and ongoing adjustment)

• Unfunded commitments (methods for deriving funding expectations and expected losses)

Technical Construct: Testing and independent recalculation of model and upstream mathematics, including:

• Model inputs

• Accurate segmentation (both balances and losses/ defaults)

• Peer derived data points

• Manual overrides

• Upstream inputs (attrition rates, prepayment rates, probability of default rates, loss given default rates, remaining lives, etc.)

• Individually evaluated loans

• Qualitative factors

• Model outputs

Collectively, the Technical Construct procedures should result in an end-to-end recalculation of the model logic at the segment and loan levels. Procedures should also verify that the segment-level information is being appropriately applied at the loan-level, and vice versa, when applicable.

Based on our continued review of model validation reports, we see significant disparity in the level of detail with which engagements are performed. Below, we have highlighted a couple items to be considered when developing a validation plan or reviewing proposals from external providers:

Use of Challenger Models

While running a challenger model can serve as a “gut check” for the reasonableness of model outputs, it does not comply with validation expectations as set forth in SR 11-7. Using this approach provides no assurance that the model is performing as expected, nor does it prove that the model is in alignment with its design objectives.

End-to-End Reperformance of Model Logic

Contrary to the approach above, the end-to-end reperformance of a model’s logic will provide the highest level of assurance that mathematical equations and application of assumptions within the model are working in the intended manner. These procedures will vary depending

on model methodology but should include the recalculation of components like historical loss rates, prepayment rates, remaining maturity, and funding rates. It should also include reperformance of linear regressions or other mathematical methods of forecasting and qualitative factor processes. Lastly, these procedures should include the tracing of model outputs being applied at the loan level back to their segment-level derivation. An example of this would be tying probability of default and loss given default rates applied to a loan back to the corresponding segment-level calculation from which they were derived.

Mathematical Accuracy of Manual Inputs/Overrides

We often find institutions using manual overrides for key assumptions in their model. These overrides typically include components like peer derived loss rates, prepayment speeds borrowed from interest rate risk models, and subjective funding rate assumptions. These inputs are likely key drivers of model outputs and should be thoroughly evaluated as part of the validation. CECL model validation procedures should include a reconciliation of these data points back to their origins and, if not tested elsewhere, a recalculation of mathematical formulas used to derive the values. Furthermore, given the static nature of override values within a model, these values should be challenged and stressed regularly. Knowing the correlation between changes in these factors and the model output is crucial to demonstrating a thorough understanding of the model and knowing how to best manage it moving forward.

INTERNAL AUDIT

Since institutions and service providers have their own unique methods for performing risk assessments and developing audit plans, there is wide variability in the depth of internal audits being performed over CECL. While this variability is reasonable and expected, we recommend that the following items be considered as a baseline when developing an audit plan:

• Review and approval of policies

• Adequacy of management and board oversight

• Administration of the model in accordance with applicable guidance and internal policies

• Review and approval of material changes to the model (segmentation, methodology, assumptions, etc.)

• Effectiveness of management review controls

• Proper application of qualitative factors

• Reporting and disclosures (compliance with GAAP and regulatory guidance)

• Existence of outcomes analysis / backtesting

• Existence of sensitivity analysis / stress testing

• Remediation of previously identified issues

• Adequacy and objectivity of model validation activities

To date, many internal audit procedures have revolved around model development, design effectiveness of internal controls, and planned model governance. As we move forward and the industry shifts its focus from implementation to administration, we expect the scope of audits to transition towards being more heavily focused on operational effectiveness. Furthermore, we expect to see a higher emphasis placed on monitoring activities such as outcomes analysis (back testing) and sensitivity analysis (stress testing).

WHICH DO I NEED?

Supervisory guidance on model risk management (SR 11-7) states:

Validation activities should continue on an ongoing basis after a model goes into use, to track known model limitations and to identify any new ones. Validation is an important check on model use during periods of benign economic and financial conditions, when estimates of risk and potential loss can become overly optimistic, and when the data at hand may not fully reflect more stressed conditions. Ongoing validation activities help to ensure that changes in markets, products, exposures, activities, clients, or business practices do not create new model limitations. For example, if credit risk models do not incorporate underwriting changes in a timely manner, flawed and costly business decisions could be made before deterioration in model performance becomes apparent.

Banks should conduct a periodic review—at least annually but more frequently if warranted—of each model to determine whether it is working as intended and if the existing validation activities are sufficient. Such a determination could simply affirm previous validation work, suggest updates to previous validation activities, or call for additional validation activities. Material changes to models should also be subject to validation. It is generally good practice for banks to ensure that all models undergo the full validation process, as described in the following section, at some fixed interval, including updated documentation of all activities.

Our interpretation of this excerpt is that institutions should continue to monitor their models through validation-based activities. Generally, the industry supports institutions setting a cadence in which they receive a full validation every “#” year(s), with internal audits performed in the year(s) between. What exactly that cadence looks like will vary, depending on many factors including: the opinions of regulators and external auditors, the size and complexity of the institution, the nature and complexity of the model, changing economic conditions, and whether there have been adjustments to key model inputs, assumptions, or calculations. Situations in which there is a strong case for electing a validation include, but are not limited to:

• An internally developed model has been deployed but not yet validated

• An outsourced model, lacking a model certification, has been deployed but not yet validated

• The institution is subject to an internal controls over financial reporting audit (FDICIA or SOX)

• The model has been previously validated, and there were significant findings/exceptions identified

• The model has been previously validated, but there have been substantial changes made

In closing, guidance around when a validation is necessary is ambiguous and open to interpretation. Ultimately, the decision is left in the hands of management with input from the institution’s regulators, external auditors, and other advisors.

Photo Recap

MARCH 20 – 22, 2023

Merchant Services: A Business Lifeline

Be the friend they call...

Your small business clients rely on cash-flow to maintain their business. A lifeline that is crucial in the continuance of cash-flow is merchant services. Small businesses are often in a cash-flow crunch and many of their customers want to pay via credit or debit card. If that small business can’t rely on the equipment or software provided by their current vendor to properly process payments, then that small business immediately has a cash-flow issue.

The SCBA’s newest preferred vendor wants to make sure your bank is the friend those small business clients call to maintain timely access to this crucial form of cash-flow BancCard of America Inc., is based in Nashville, Tennessee and works with five of the top processors in the industry—Elavon, First Data, TSYS, Clearent and SignaPay— giving merchants, big and small, the latest in card processing technology. In addition, there is no bank liability, and they provide the lowest interchange rates for all card transaction types. These interchange savings are passed along to your merchants.

By utilizing five processors, BancCard can offer its bank clients any of the benefits or savings offered by any of those processors. When working with just one processor, a bank is limited to only the benefits of that sole provider. Another benefit of BancCard is nearly immediate approval upon application, allowing your customer to be up and running, and accepting payment in 24-48 hours. If there is an issue with a terminal or software, BancCard has local representatives servicing South Carolina banks, so someone will be on site with a replacement, usually within 24 hours.

Often the bank’s merchant services program is an afterthought. However, to your small business customer, it is a crucial service to their survival. BancCard will work with your team to help identify potential customers and will then make calls on your behalf or in conjunction with you, to connect with those clients and discuss their merchant services offerings. BancCard only deals with banks

and their clients. They have no independent representatives “on the street” competing against you for the business. ln fact, when meeting with potential customers, they listen for key comments that might lead to additional business for the bank as a trusted partner, helping gain more business and create more “stickiness” with your customer.

Most banks will utilize BancCard’s referral model, which often produces two to five times the volume/output than other merchant service providers are able to yield. However, if your bank is a size where it makes sense to be an agent bank, BancCard can also make that happen.

Non-interest income is a key component to a bank’s revenue stream and merchant services is a great way to generate it. Be the friend your customer calls for a lifeline and help them maintain their cash-flow. For more information contact Nick Brown at at (864) 680-0879 or nbrown@banccard.com.

DEDICATED REPRESENTATIVE:

Nick D. Brown, Senior Vice President Market Leader (864) 680-0879 • nbrown@banccard.com

www.banccard.com

What Some of Our South Carolina Bankers are Saying...

“Over the past seven years, BancCard has been an extension of our bank team and exudes the same level of customer service that our team has built our bank on. With some vendors, service is hit or miss, but not with Justin, Nick and the BancCard team – they pride themselves in taking care of our customers and partnering with our bankers. It isn’t very often that a vendor refers business back to the bank, and that’s exactly what BancCard does – it’s a true partnership instead of a vendor relationship.”

Margi Fleming, Senior Vice President Human Resources, Branch Administration & Marketing The Citizens Bank

“Our experience with BancCard has been fantastic! Their customer service is very responsive not only with the branch, but with our customers as well. BancCard offers the newest technologies, competitive rates and is an all-around better provider than any other I have worked with in the past. We have had tremendous success with the products BancCard offers our customers, including saving one of our largest clients $31,000 per year! I would recommend BancCard without question.”

Jeffery Mingledorff Branch Manager/Vice President Bank of the Lowcountry

“Our experience with BancCard has been absolutely incredible! Nick and his team provide our clients with professional, responsive 1st class customer service. We have never experienced the level of service from a vendor that we receive from BancCard. Our relationship with BancCard is worlds apart from our previous merchant services provider. I highly recommend Nick and his team with BancCard.”

Richard D. Burleson President and CEO Community First Bank

2023

LEADERSHIP SYMPOSIUM

The 2023 Women in Banking Leadership Symposium was held Tuesday, April 11 and Wednesday, April 12, at the Hilton Columbia Center. The attendance was record high and so was the enthusiam! With a line-up of female banking and finance professionals sharing their knowledge and experience—some with over 40 years in the banking industry—attendees left with streamlined knowledge and confidence to help them grow in their profession for years to come. The conclusion of the symposium was an inspiring solo performance by Simone E. Bryant of Benedict College, that ended with a standing ovation. If you were not able to attend this year, please check the SCBA website, scbankers.org/scba-events for updates, and be sure to save the date for the 2024 Women in Banking Leadership Symposium.

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BHGLoanHub.com/SCBA

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Welcome

We are fortunate to have an active and engaged roster of Associate members and proudly welcome these new members:

Convergint Technologies

One Commerce Drive Schaumburg, IL 60173 (847) 620-5000

www.convergint.com

Mr. Justin Morrison

7812 Redsky Drive Cincinnati, OH 45249

(720) 496-1566

justin.morrison@convergint.com

Convergint is a global systems integrator focused on delivering results for customers through unparalleled service excellence. At Convergint, our top priority is service in every way — service to customers, colleagues, and community. As an integrator, Convergint works alongside a global network of partners and manufacturers to design, install, and service security, financial banking, fire alarm, life safety, audio-visual, and building automation solutions for enterprise customers. Convergint meets your current needs and future growth plans by offering a wide range of professional services ensuring your investment is secure and will continue to operate as originally designed. Our unique and empowered culture, guided by our values and beliefs, helps us stay accountable to our mission, and our number one objective: to be our customers’ best service provider.

ETS National, Inc. PO Box 781 Geneva, IL 60134 (630) 301-4025

www.etsnational.com

Ms. Kelly Yakes

3224 Moonlight Dr. Charleston, SC 29414 (843) 367-0566

kelly@etsnational.com

ETS National is a licensed and insured environmental consulting firm focused and determined on identifying efficient, cost-effective solutions to environmental issues for its clients nationwide. Services largely offered by ETS National include real estate due diligence. Using the current guidance and standards set forth by the U.S. Environmental Protection Agency, the American Society for Testing and Materials, and the U.S. Small Business Administration, our team can perform records search with risk assessments (RS/RAs), transaction screen assessments (TSAs), phase I environmental site assessments (ESAs), and limited phase II ESAs. Additionally, ETS National works with local and state environmental regulatory agencies to complete site investigation and/or corrective action oversight to achieve site closures.

HORNE

661 Sunnybrook Road, Suite 100 Ridgeland, MS 39157 (601) 326-1000

www.horne.com

Ms. Melissa Poole, Partner

8 Cadillac Drive, Suite 160 Brentwood, TN 37027 (615) 312-9060

melissa.poole@horne.com

HORNE is a professional services firm founded on a cornerstone of public accounting. As one of the top 25 accounting firms in the country, HORNE services financial institutions across the Southeast from 13 office locations. HORNE’s more than 2,000 team members deliver services to their clients across the nation. HORNE’s team includes experts focused on external audit, internal audit, regulatory compliance services, risk-management services and a suite of information technology services, including IT and cyber-security audits and consulting. In addition, HORNE specializes in tax compliance and planning services as well as mergers and acquisitions consulting for financial institutions.

Issuer Direct Corporation

1 Glenwood Ave Suite 1001 Raleigh, NC 27603

(919) 228-6243

www.issuerdirect.com

Mr. Dominick John Dal Pizzol (DJ)

1 Glenwood Ave Suite 1001

Raleigh, NC 27603

(919) 228-6243

dominick.dalpizzol@issuerdirect.com

PWCampbell

109 Zeta Drive Pittsburgh, PA 15238

(412) 963-0100

www.pwcampbell.com

Ms. Lynne Green Director, Consulting Services

109 Zeta Drive Pittsburgh, PA 15238

(412) 963-0100 x315

lynne.green@pwcampbell.com

Issuer Direct is a leading communications and compliance company, providing solutions for both public relations and investor relations professionals. Our comprehensive solutions are used by thousands of customers from emerging startups to multi-billion-dollar global brands, ensuring their most important moments are reaching the right audiences, via our industry leading newswire, IR website solutions, events technology, and compliance solutions.

PWCampbell is a full-service firm offering design-build, branch experience, and consulting services to the financial industry. Our vast experience lies within architecture, interior design, pre-construction, construction, branded environments, and award-winning technology solutions. Our Best in Class service and “open door” relationship with our clients are the cornerstones of the business. Backed by over a century of experience, we have the passion and vision to take your project to the next level.

At Centrant, we believe everyone should have a safe, affordable place to call home. Our mission-driven approach to lending connects committed banks of all sizes with dedicated developers to create and preserve quality affordable multifamily housing. And, we believe building strong communities starts with building strong partnerships.

david@centrant.org

R&T Deposit Solutions

1370 Broadway, 17th Floor New York, NY 10018

(866) 237-2752 rnt.com

Mr. Edward A. “Ward” Rice Managing Director

Banking and Trust Services

4025 Roxburgh Drive Roswell, GA 30076

(404) 433-7886

wrice@rnt.com

Tax Credit Marketplace, LLC

777 Lowndes Hill Road

BDG# 3, Suite 110 Greenville, SC 29607 (864) 679-4706

www.taxcreditmp.com

Mr. Josh Workman Chief Operating Officer

777 Lowndes Hill Road

BDG# 3, Suite 110 Greenville, SC 29607 (864) 679-4706

jworkman@taxcreditmp.com

Reich & Tank Deposit Networks, LLC (“R&T”) and Total Financial Solutions, LLC (d/b/a Total Bank Solutions) (“TBS”) successfully completed a planned business combination on June 1st, 2022. Headquartered in New York City, and now doing business as RNTS, the combined firm has over $200 billion in assets under administration (AUA) now offers a wider range of innovative tech-enabled services to help banks, credit unions and wealth managers meet their unique cash sweep, deposit funding and securities-based lending needs. Since 1974 and 2004 respectively, R&T and TBS have been helping many of the largest global financial institutions achieve their business objectives. By delivering consistent results on behalf of their clients, both firms have achieved sustained business growth and have earned market lending reputations for exceptional client service, collaborative engagement, and flexibility.

Tax Credit Marketplace (TCM) links tax-conscious investors with tax credits from community-minded developers. In doing so we revitalize spaces for better places to live, work, and play. Tax credit investors can be corporations, insurance companies, banks or individuals who are accredited Investors. To date, TCM has monetized more than $100 million in South Carolina tax credits. TCM is South Carolina’s leader in educating developers, investors and their trusted advisors about the benefits of SC tax credits and in the process has simplified an inefficient market.

Thomson Reuters

610 Opperman Drive Eagan, MN 55044 (952) 334-3181

www.thomsonreuters.com

Mr. Brian Overson Account Executive

20640 Greenwood Avenue Lakeville, MN 55044 (952) 334-3181

brian.overson@thomsonreuters.com

Thomson Reuters Corporation is a Canadian multinational conglomerate. The company was founded in Toronto, Ontario, Canada, where it is headquartered at the Bay Adelaide Centre. Thomson Reuters was created by the Thomson Corporation’s purchase of the British company Reuters Group in April 2008. Thomson Reuters CLEAR is a public records database that financial institutions use to screen for risk and remain compliant. CLEAR gives financial institutions access to public records (liens, judgments, bankruptcies, criminal records, etc.) on every individual and business with a footprint in the United States.

With all of the evolving financial industry changes, we are thankful for business alliances that meet our members’ needs. The SCBA is dedicated to supporting and promoting cutting-edge industry providers to our member banks.

For more information about Associate Membership, please contact SCBA Senior Vice President, Carolyn Laffitte Bradley by email at carolynbradley@scbankers.org

TO VIEW OUR ASSOCIATE MEMBERSHIP DIRECTORY, SCAN QR CODE.

ANDERSON BROTHERS BANK

Taylor Anderson was promoted to branch manager at the bank’s Georgetown office.

Benjamin Jones was promoted to commercial loan officer at the bank’s Florence office, 501 Second Loop Road.

Bradley Moore was promoted to branch manager at the bank’s Conway office.

Collier Schettig has joined as vice president commercial lender in the Myrtle Beach area.

Micky Watts, Senior Vice President Indirect Lending, was elected president of the National Automotive Finance Association at its annual conference in Plano, Texas.

BANK OF AMERICA

Gregg N. Frierson was named South Carolina market executive for Bank of America private bank.

COASTAL CAROLINA NATIONAL BANK

Scott Benninga has been named senior vice president, mortgage operations director.

Steve Hales has been named senior vice president, mortgage sales director.

David Richard “Rick” Tobin, Jr. has joined as senior vice president, chief credit officer.

Melissa Harrell Wober has joined as vice president, North Myrtle Beach city executive.

COUNTYBANK

Laura Beth Brooks has been appointed vice president by the Board of Directors.

Candice Good has been appointed assistant vice president by the Board of Directors.

Jack Lucas has been promoted to senior vice president, Simpsonville market executive.

FIRST CITIZENS BANK

Ann Jaskwhich has joined as a manager of retail banking based out of Easley.

Collier Schettig

Bradley Moore

Benjamin Jones

Laura Beth Brooks

Taylor Anderson

Scott Benninga

Micky Watts Gregg N. Frierson

Rick Tobin, Jr.

Steve Hales

Melissa Wober

Candice Good

FIRST RELIANCE BANK

Sarah Baldwin has been promoted to senior vice president retail mortgage sales at FRB Mortgage, a division of First Reliance Bank in Columbia.

Zach Brown has been promoted to senior vice president, director of customer solutions & asset management in Florence.

Schaefer Carpenter has been promoted to senior vice president, retail banking manager in Greenville.

Tiffany Kiminski has been promoted to vice president, deposits operations manager in Mount Pleasant.

Keith Rainwater has been named chief accounting officer in Columbia.

David Renaker has been promoted to senior vice president, relationship banker in Columbia.

Scurry Tharpe has joined as vice president, relationship banker in Greenville.

Marci Williams has joined as vice president, account executive/residential lending specialist in Charleston.

ENTERPRISE BANK OF SOUTH CAROLINA

Don Snipes was named President and CEO of Enterprise Bank of South Carolina as of July 1, 2023.

MUTUAL SAVINGS BANK

Tommy Johnson has retired as interim chief executive officer.

Patrick Rogers has been promoted to chief executive officer.

PINNACLE FINANCIAL PARTNERS

Tommy Chapin has joined as a financial advisor in Myrtle Beach.

Desiree Marujo has joined as a financial advisor in Myrtle Beach.

John Seel has joined as a mortgage advisor in Charleston.

SERVISFIRST BANK

Betsy Bugg Holloway, Ph.D. has been elected to the ServisFirst Bancshares, Inc. and ServisFirst Bank Board of Directors.

SOUTHERN FIRST BANK

Andy Borrmann has been appointed chief financial officer and executive vice president.

THE CITIZENS BANK

Kevin Gause has been appointed chief lending officer.

Jason Hutto has joined as the Camden area executive, senior vice president.

Angela Langley has joined as chief credit officer.

SOUTHERN BANK

Kristi Eller has been named executive vice president and chief administrative officer.

Frank Townsend III has been named chief lending officer.

Kevin Gause

Desiree Marujo John Seel

Sarah Baldwin Keith Rainwater Scurry Tharpe Marci Williams

Tommy Chapin

Betsy Bugg Holloway

Jack Lucas

Angela Langley

Kristi Eller

Frank Townsend III

Andy Borrmann

Don Snipes

ANDERSON BROTHERS BANK

Elmore Bethea, Fraud Investigator for Anderson Brothers Bank, presented keys of a 2020 Chevrolet Tahoe to Zane Bryant, Chief of Police of the Latta Police Department. “Latta is my hometown,” said Elmore Bethea. “I always wanted to do something to give back, and I’m just glad Anderson Brothers Bank could make that possible.”

The 22nd annual Anderson Brothers Bank Invitational High School Golf Championship tournament was held on April 10th and 11th. This Golf Championship is one of South Carolina’s premier High School Golf Tournaments. The 36 Hole Tournament is played every spring in the Pee Dee.

ARTHUR STATE BANK

April marked a significant milestone for Arthur State Bank as the community bank celebrated its 90th anniversary. Founded in 1933 in Union, South Carolina, Arthur State Bank has been a trusted financial partner for generations of families and businesses, providing exceptional service and innovative banking solutions.

COUNTYBANK

Countybank is celebrating its 90th anniversary in business this year. Founded in 1933, the bank was created during the Great Depression, at a time of community hardship, when local business leaders identified the need for a dependable bank that would help people and businesses in the local community prosper.

Countybank and Greenwood Capital presented a check for $25,000 to Hospice and Palliative Care of the Piedmont, on behalf of the Countybank Foundation , which was established in 1971 and represents Countybank and Greenwood Capital. This donation will go toward the Project Hope program, which provides grief support for children. Other recent donations were presented to the Lakelands Region YMCA, Community Initiatives, Inc., Greenville-Abbeville Little League, and A Place for Us Ministries Renew Hope Camps. Countybank Foundation also awarded a scholarship to Piedmont Technical College student Iliana Uzoh, who is currently studying computer technology.

FIRST CITIZENS BANK

First Citizens Bank has entered into an agreement with the Federal Deposit Insurance Corporation (FDIC) to purchase out of FDIC receivership substantially all loans and certain other assets, and assume all customer deposits and certain other liabilities of Silicon Valley Bridge Bank, N.A. The transaction is structured as a whole bank purchase with loss share coverage. First Citizens was selected to complete this transaction through a competitive bidding process. On March 27, 2023, the 17 legacy Silicon Valley Bridge Bank, N.A. branches began operating as Silicon Valley Bank, a division of First Citizens Bank.

FIRST COMMUNITY BANK

First Community Bank announced a successful completion of its “Tackling Hunger” campaign with more than 4,000 non-perishable food items collected and donated to local organizations. The campaign was established by the bank’s 2023 Leadership Institute graduating class who selected the critical issue of hunger as its class project to drive positive change in the areas First Community serves.

The First Community Bank Leadership Institute is an 18-24 month, intensive training program that combines academic and experiential learning, designed to enhance the leadership skills of key members of the bank’s team. The recent graduates include Alicia Harrison, Amber Bobo, Audrey Shuman, Charlene Richards, Jordan Pierce, Jamie Addison, Keith Hart, Narin Seera, and TK Woods.

First

banking office in Rock Hill at 1746 Ebenezer Road. This represents the bank’s first location in rapidly growing York County.

FIRST RELIANCE BANK

Rick Redden has been named to the First Reliance Bank Board of Directors. Rick has extensive experience working with banks, public and private companies, non-profits, and higher educational institutions to establish or enhance strategic plans, navigate industry change, and accelerate execution.

PINNACLE FINANCIAL PARTNERS

Pinnacle Financial Partners Charleston Meeting Street retail office relocated to the new Morrison Yard office on May 1, 2023. The new office, led by Charles Thompson, is located at 850 Morrison Drive, Suite 101, Charleston, SC 29403.

The Morrison Yard location will also be the home of our new corporate offices in Charleston with 20,000 square feet of office space, when they open in June. The office will include

Community Bank celebrated the official opening of its full-service

Global Market Intelligence’s esteemed

2022 Top 50 Public Banks list,” states Tom Broughton, ServisFirst Bank Chairman, President and CEO. “We are thankful to have had a strong year and are honored to be recognized amongst other top banks across the United States.”

SOUTHERN FIRST BANK

The Dream Mortgage Center is a new concept by Southern First – a mortgage lending and community center with the purpose of creating greater support and opportunities for all to achieve homeownership. With an open and

flexible design, the space will allow Southern First to host a variety of events from networking opportunities to community meetings and homebuyer education courses, while also staffed with mortgage lending experts to help guide homebuyers and secure financing.

Located at 452 Killian Road in Columbia, the Dream Mortgage Center is situated in a growing and high-traffic area, which is an ideal location for the Southern First team to form long-term relationships with community members and help them throughout their path to homeownership.

“We are incredibly excited to open our Dream Mortgage Center,” commented Art Seaver, Chief Executive Officer of the company. “This is an innovative investment in the Columbia market and further demonstrates our commitment to impact lives.”

TD BANK, N.A.

The TD Charitable Foundation, the charitable giving arm of TD Bank, has awarded $175,000 to Upstate Warrior Solution as part of 17th annual Housing for Everyone grant program. This will support Upstate Warrior Solution’s (UWS) Stable Housing for Veterans program—supporting 325 veteran families through a combination of direct services support and case management during an 18-month grant period.

UNITED COMMUNITY BANK

United Community Bank is proud to reveal its updated corporate logo, emphasizing the bank’s purpose to build communities and help customers achieve their financial goals.

The new United Community logo represents the bank’s 70-year history of customer service and its culture of caring. While the logo is being refreshed, the commitment to investing in its people, technology, and customers’ needs, remains the same.

United Community Bank is strengthening its presence in Charleston by adding its first downtown branch inside the Charleston Tech Center located at 997 Morrison Drive. The branch is now open for customers and features an Interactive Teller Machine (ITM), offering extended hours. This is United’s fifth location in the Charleston metro area.

As part of its commitment to investing in the Laurens community, United Community Bank is improving its downtown Laurens branch. Construction began at the end of April, resulting in the 101 West Main Street location opening a temporary branch in the lot just behind the current branch location. United anticipates the Main Street branch will open for business in 2024.

United Community Bank is proud to announce a new partnership with Greenlight® Financial Technology, Inc. to provide United customers free access to the award-winning Greenlight family finance app, available through the Greenlight for Banks program. This collaboration is part of United’s commitment to Financial Literacy Month and highlights the bank’s purpose—to use our skills as bankers to improve the financial health and well-being of our customers and our communities.

WELLS FARGO FOUNDATION

The Center for Heirs’ Property Preservation® announced it has been awarded a $300,000 grant over two years from the Wells Fargo Foundation to support its educational outreach and legal assistance to heirs’ property residents in South Carolina to help them keep their family land. The Center is the premiere organization delivering legal education and direct legal services to heirs’ property owners for more than 18 years. To date, the Center has resolved 340 title issues on land with a tax-assessed value of $20.7 million.

2023 Calendar of Events

SEPTEMBER

Bank Security Risk Management Conference

September 26 | Courtyard by Marriott Columbia Downtown at USC, Columbia

OCTOBER

Young Bankers Division Annual Scholarship Golf Tournament

October 2 | Columbia Country Club, Blythewood

Call Report Seminar

October 4 | Courtyard by Marriott Columbia Downtown at USC, Columbia

Bank Directors & Mangers Workshop

October 17 | Courtyard by Marriott Columbia Downtown at USC, Columbia

Consumer Lending School

October 18-19 | Courtyard by Marriott Columbia Downtown at USC, Columbia

NOVEMBER

BankPAC Sporting Clays Tournament Fundraiser

November 15 | Palmetto Shooting Complex, Edgefield

Don’t forget the SCBA Webinars... another source for your training needs.

Please visit scbankers.org/all-online-training-opportunities to see the myriad of courses and webinars offered and to register!

SCBA BankPAC Sporting Clays Tournament Fundraiser

WEDNESDAY, NOVEMBER 15, 2023

The Young Bankers Division will host the BankPAC Sporting Clays Tournament at The Palmetto Shooting Complex, Edgefield, SC.

The proceeds from this tournament will be contributed to the SCBA StatePAC. Save the date for this special day. Sponsorships will be available.

For more information about the tournament and sponsorship opportunities: Carolyn L. Bradley carolynbradley@scbankers.org

SAVE THE DATE