Palmetto Banker Issue Three 2024

SOUTH CAROLINA BANKERS ASSOCIATION

Issue Three 2024

HOW

Can Taxes Become a Competitive Weapon?

BANKS CREDIT UNIONS

2025 Community Bankers Conference January 13-14 | Hilton Columbia Center, Columbia, SC

Please join us at the 2025 Community Bankers Conference January 13 and 14, 2025. Registration is now open for this annual “must attend” event for community bank executives and emerging leaders. The conference will focus on issues important to community bankers with speakers on topics such as: • Artificial intelligence and fraud prevention • Mail theft and check fraud • The economy

• The political environment • Regulatory hot topics • And other relevant issues

The conference provides ample time for networking and concludes with a banker-only peer group session. In addition, all attendees are invited to attend SCBA’s annual legislative reception on the evening of January 14.

A G E N D A MONDAY, JANUARY 13 1:00 PM............................Registration 1:30 – 5:30 PM.................Conference 5:30 – 6:30 PM.................Cocktail Reception

To register scan the QR code or visit our website, scbankers.org/calendar

TUESDAY, JANUARY 14 7:30 AM............................Breakfast 8:30 AM – 12:00 PM........Conference Noon.................................Luncheon 1:00 – 3:00 PM.................Bankers-only Peer Group Hotel Accommodations: SCBA has secured a group rate of $189 ++ per night for Monday and Tuesday nights at the Hilton Columbia Center. Room blocks fill up quickly, so don’t delay in making your reservations.

125 th An

niversa

ry

2009 Park Street I PO Box 1483 Columbia, S.C., 29202-1483 803.779.0850 I Fax: 803.779.0890

www.scbankers.org

2024-25 SC BA EXEC U TIV E CO M M ITTE E Chair..........................................................................Jennifer T. Jones, CBL State Savings Banks Chair-Elect................................................................................. H. Richard Sturm, Ameris Bank First Vice Chair............................................................ Samuel R. Small, Jr., First Palmetto Bank Treasurer..............................................................................J. Ted Nissen, First Community Bank Immediate Past Chair................................................................................ Boyd B. Jones, Synovus 2024-25 SC BA BOARD O F D IR E CTO R S Second Immediate Past Chair........................ Fleetwood S. Hassell, The Bank of South Carolina President & CEO................................... Fred L. Green III, South Carolina Bankers Association Directors.............................................. Laurence S. Bolchoz, Jr., Coastal Carolina National Bank Alex Brame, Truist Bank Stacy B. Brandon, Bank of America William O. Buyck, Jr., Bank of Clarendon Michael E. Edens, First Reliance Bank Mary D. Garcia, Pinnacle Financial Partners Robert P. Hucks II, Coastal Carolina National Bank Coleman A. Kirven, The Peoples Bank Othniel W. Laffitte, First Bank Benita E. Lefft, Optus Bank R. Scott Plyler, South Atlantic Bank Mickey M. Renner, HomeTrust Bank Michael M. Sarvis, First National Bank Kevin M. Short, TD Bank, N.A. J. Reeves Skeen, First Citizens Bank 2024-25 C OMMUNI TY B A N KE R S D IV IS IO N B OA R D Chair.....................................................................................R. Scott Plyler, South Atlantic Bank Immediate Past Chair....................................................... Michael E. Edens, First Reliance Bank Directors................................................................................ Phillip Anderson, HomeTrust Bank Vaughan R. Dozier, Jr., First Community Bank Scott M. Frierson, Southern Bank Kenneth M. Harper, Countybank William J. Holmes III, First Carolina Bank Joseph S. Kassim, First Capital Bank S. Alexis Matthews, The Peoples Bank Don Snipes, Enterprise Bank of SC Eugene H. Walpole IV, The Bank of South Carolina 2024-25 SOUTH C AROLIN A B A N KE R S S CH O O L B OA R D Chair............................................................Robert P. Hucks II, Coastal Carolina National Bank Chair-Elect.................................................................. Joseph A. Painter, First Community Bank Immediate Past Chair........................................................... John M. Leighton, SouthState Bank Directors................................................................ Thomas C. Anderson, Jr., First Palmetto Bank Nathan T. Crowe, Security Federal Bank Mary D. Garcia, Pinnacle Financial Partners Kenneth M. Harper, Countybank William E. Howard, Jr., First Citizens Bank William R. Johnston, Southern First Bank Rose Buyck Newton, Bank of Clarendon Michelle B. Seaver, United Community Bank Charles K. Talbert, Bank of the Lowcountry Course Coordinators.......................................................................... John C. Griggs III, Synovus Ford P. Menefee, The Bank of South Carolina Marvin E. Robinson, Jr., Ameris Bank Allison P. Stout, South Atlantic Bank 2024-25 EMERGI NG L E A D E R S D IV IS IO N B OA R D O F DI R EC T OR S Chair............................................................................................. Othniel W. Laffitte, First Bank Chair-Elect........................................................................Margi M. Fleming, The Citizens Bank First Vice Chair......................................................................................... Reid J. Boehm, Synovus Immediate Past Chair................................................................... B. Oneal Staples, Ameris Bank Directors.........................................................M. Charles Abbott, Jr., Carolina Bank & Trust Co. Jamie E. Addison, First Community Bank Jessica M. Buttles, Anderson Brothers Bank Eugene A. Gardner IV, TD Bank, N.A. Margaret C. Harken, The Bank of South Carolina Blake H. Dressler, First Reliance Bank Lauren M. Hendricks, United Bank Mallory H. Holley, Security Federal Bank Angela T. Klosterman, First Citizens Bank Ashleigh Oxner Malm, Arthur State Bank J. Jefferson Manning, SouthState Bank Austin W. McVay, United Community Bank Albert A. Munn V, South Atlantic Bank Joseph W. Thomas, First Palmetto Bank W. Clarke Walker, Southern First Bank

Contents 4 President’s Message 7 ABA Update 8 Legislative Update 11 Celebrating 125 Years of SCBA/Part 2 15 2025 Annual Convention & Tradeshow 18 SC Bankers Receive National Accolades 20 2024 Scholarship Golf Tournament 24 Emerging Leaders Annual Conference 26 2024 BankPAC Clays Tournament 30 Preferred Vendors 34 Welcome New Members 37 Personal Transactions 38 Banking News 40 Education Calendar SC B A St a f f President & CEO................................ Fred L. Green III Chief Operating Officer....................... Richards H. Green Senior Vice President........................... Carolyn L. Bradley Senior Vice President........................... E. Anne Gillespie Senior Vice President & General Counsel............................................ A. O’Neil Rashley, Jr., Esq. Controller............................................. Israel D. Reeves Communications & Engagement........ Diane Krell Administrative Assistant...................... Bonnie E. Nelson The Palmetto Banker is a publication of the South Carolina Bankers Association. The magazine exists to serve its members by communicating news of interest, education and SCBA activities.

Items from members are welcome, however the editor reserves the right to refuse copy. With the exception of official announcements, the SCBA disclaims responsibility for opinions expressed and statements made in articles published in the Palmetto Banker.

P r e s i d e n t ’ s M e s s a g e | Fred L. Green III, President and CEO, South Carolina Bankers Association

HOW Can Taxes Become a Competitive Weapon?

We publish our Palmetto Banker quarterly. And in advance of each publication, we discuss content planned for the upcoming issue. However, sometimes issues arise shortly before our publication that cause us to make last minute changes. This letter is one of those times.

Initially I had planned to write about the devastation from Hurricane Helene. I appreciate the photos sent in by our bankers along with the many stories. Every banker I talked to, many dealing with damage personally and to their offices, was more engaged in helping their customers and their communities than their own personal situations. That’s what bankers do.

In mid-October, I received a phone call from a reporter with the South Carolina Daily Gazette asking me to comment on proposed legislation from the credit unions that would allow them to accept public deposits in South Carolina. South Carolina law states that only FDIC insured institutions can accept public deposits. I offered an energetic response, to say the least, primarily correcting the misinformation the credit unions had given to this reporter.

For background, Congress established credit unions more than 90 years ago to provide basic consumer financial services to those of modest means connected through some common bond. In light of their statutory mission and not-for-profit structure, Congress exempted credit unions from federal income taxes and limited their activities. Today, there are 47 credit unions doing business in South Carolina. Most of these have stuck to their initial mission and still provide financial services to their customers of modest means that are still connected through a common bond.

Although all 47 South Carolina credit unions have a state and federal income tax exemption, the largest of them, all over $1 billion in assets, use this tax subsidy as a competitive tool to expand well beyond their original mission and common bond membership. Allowing them to accept public deposits is a perfect example of this. How does accepting the deposits of a local subdivision square with credit unions’ mission of providing services to those of modest means? It doesn’t.

There are 18 financial institutions with over $1 billion in assets headquartered in SC, nine of which are credit unions. See the schedule of these on the next page. It is these nine companies that seek to change South Carolina’s laws to allow them to accept public deposits. The South Carolina Bankers Association and all of our members are adamantly opposed to any legislation that would favor these nine companies over our entire industry.

Let me share some facts: 1. These nine large companies collectively had a net income of $188 million in 2023, but didn’t pay a cent of state and federal income taxes – unlike banks and all 4

I S S U E T H R E E 2 0 2 4 • PALMETTO BANKER

other businesses that make a profit. Yet, they claim that they aren’t treated fairly.

2. The banking industry, as a whole, paid over $55 million in taxes to the South Carolina General Fund in 2023–2024 according to the South Carolina Department of Revenue.

Our industry is one of the largest corporate contributors to state revenue every year.

3. These nine companies say, “Banks are leaving South Carolina in record numbers.” But today there are 78 banks in South Carolina compared to 76 five years ago.

4. These nine companies indicate they invest in their communities. How does anyone know? Banks are required to report their support of their communities in compliance with the Community Reinvestment Act – but these nine highly profitable companies do not have to report any community investment or activity at all.

Some smaller, rural municipalities in South Carolina don’t have a bank or credit union presence. Last year the General Assembly adopted a temporary law that would allow a credit union to accept municipal deposits if they opened an office or had an existing office in any rural town that did not have a bank branch within 10 miles. The General Assembly made sure to limit this to their concern of banking access for rural towns, and SCBA did not object to that discussion.

So, what’s the problem? The problem is that these nine companies do not want to serve small, rural towns, they want the business of much larger political subdivisions that don’t have any banking access problem. Now they’ve formed the Palmetto Public Deposits Coalition to push for all public deposits, while misstating facts about the banking industry as mentioned above, to influence the General Assembly to change the law.

Many of you have seen the highly inaccurate statements that this coalition has published through their articles and publications, and you are equally upset that such “information” is being given to the public and our elected officials. We hope that other groups they are trying to recruit as “Supporters” of the Coalition will see through these inaccurate and misleading statements.

Still, H3221 was introduced by Rep. Nathan Balentine in December. We hope that when the General Assembly reconvenes in January, our elected officials and Rep. Ballentine will ask why these nine companies that made $188 million in profits last year and paid $0 in state income taxes should be given expanded competitive powers against South Carolina’s banks that paid $55 million to the General Fund. These companies want all the benefits of banking, but do not want any of the burdens.

SC Headquartered Banks and Credit Unions NAME

CITY

ASSETS

United Community Bank

Greenville

$27,241,407

Founders Federal Credit Union

Lancaster

$4,800,166

Southern First Bank

Greenville

$4,056,256

South Carolina Federal Credit Union

North Charleston

$2,543,024

Coastal States Bank

Hilton Head

$2,024,175

SAFE Federal Credit Union

Sumter

$1,855,658

First Community Bank

Lexington

$1,827,624

The Conway National Bank

Conway

$1,807,197

SRP Federal Credit Union

North Augusta

$1,777,562

Anderson Brothers Bank

Mullins

$1,752,391

South Atlantic Bank

Myrtle Beach

$1,617,504

Sharonview Federal Credit Union

Fort Mill

$1,549,175

Security Federal Bank

Aiken

$1,487,193

S.C. State Federal Credit Union

Columbia

$1,411,040

Bank of Travelers Rest

Travelers Rest

$1,348,886

Allsouth Federal Credit Union

Columbia

$1,334,427

Palmetto Citizens Federal Credit Union

Columbia

$1,304,368

Rev Federal Credit Union

Charleston

$1,134,975

“...why these nine companies that made $188 million in profits last year and paid $0 in state income taxes should be given expanded competitive powers against South Carolina’s banks that paid $55 million to the General Fund. These companies want all the benefits of banking, but do not want any of the burdens.”

BANKS CREDIT UNIONS I S S U E T H R E E 2 0 2 4 • PALMETTO BANKER

5

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ABA U p d at e

It’s Time to

STOP PUNTING

on Credit Union

ACCOUNTABILITY Football season is in full swing, and here in the nation’s capital, the home of the Washington Commanders has a new name: Northwest Stadium, the moniker of Virginia-based Northwest Federal Credit Union, which recently inked a multi-year, multi-million-dollar stadium naming deal.

If you’re wondering how a credit union—a nonprofit, tax-exempt entity—can afford such a hefty marketing spend, you’d be asking the right question. When Congress passed the Federal Credit Union Act authorizing the creation of federal credit unions, its intention was for these institutions to serve people of modest means within clearly defined communities united by a common bond.

But times have changed. Today, many credit unions—in pursuit of endless growth—have dramatically expanded their fields of membership. Northwest— whose marketing budget ballooned by 88% from 2022 to 2023—was founded in 1947 to serve CIA employees. It now offers membership through multiple federal agencies, as well as “hundreds of businesses and community organizations.”

Northwest isn’t the only credit union spending top-dollar on marketing to grow membership far beyond its original scope. In fact, several of the largest credit

unions now purport their potential membership base to be upwards of 330 million Americans—effectively the entire population of the United States.

If credit unions are now empowered to cast a net this wide and compete aggressively for market share with taxpaying institutions, it’s time for policymakers to stop punting the ball on ensuring that these institutions are accountable and transparent in their operations.

ABA expressed this view in a recent letter to NCUA Chairman Todd Harper—who has himself questioned whether credit unions should be spending so much on stadium naming deals, when those funds could be better spent supporting members.

In addition, there have been several positive policy developments in recent days that suggest a growing appetite in Washington for greater accountability and transparency for the $2.3 trillion credit union industry.

One example: In a recent policy statement, the FDIC signaled that it will begin requiring credit unions to provide additional information when applying to acquire an FDIC-insured bank. Credit unions have targeted a total of more than $9 billion in bank assets so far this year, with 18 deals announced in 2024 alone.

ABA remains deeply concerned about

Rob Nichols, President and CEO American Bankers Association nichols@aba.com

the increasing number of these types of transactions and the potential tax losses and effects on local communities that accompany them. Regulators should rightfully scrutinize these deals, given that credit unions are not subject to any federal Community Reinvestment Act requirements.

Greater accountability is also expected through an upcoming rulemaking on executive compensation transparency from the National Credit Union Administration that would require the disclosure of certain financial information by federal credit unions. Given that credit unions are democratically controlled financial cooperatives, it is essential that their member-owners have greater visibility into how top executives are incentivized relative to these transactions.

Regulators are not the only ones taking note—in fact, in just the past year, a total of 80 members of Congress have publicly questioned credit union activities.

Taking all these developments into consideration, it seems the time is right to move the chains on credit union accountability. You can count on ABA to continue playing offense on these issues in the months ahead.

I S S U E T H R E E 2 0 2 4 • PALMETTO BANKER

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L e g i s lat i v e U p d at e

A. O’Neil Rashley, Jr., Esq. Senior Vice President and General Counsel South Carolina Bankers Association

2024 General Election Update CONGRESSIONAL DELEGATION – South Carolina’s U.S. Senators were not up for re-election. However, with the Republicans retaking the majority in the Senate, Senator Scott will be the new Senate Banking committee chair. Also, due to his seniority in the Senate, Senator Graham will have a prominent role and will most likely be the Senate Budget committee chair.

House District 3 will have a new Representative as Rep. Duncan did not run again. Sherri Biggs from Anderson won that race. She is a nurse practitioner as well as a Lieutenant Colonel in the Air National Guard. All other House members easily won their races. With Republican control in the House, Reps. Norman and Timmons will most likely continue to serve on the House Financial Services Committee.

STATE SENATE – Republicans picked up four seats and now have a 34-12 supermajority. Incumbent Democrat Senators Gerald Malloy, Kevin Johnson, Vernon Stephens, and Mike Fanning were all defeated. Overall, there are 13 new state senators.

The Senate will meet in early December to organize for 2025. Most committee chairs should remain the same, including Senator Ronnie Cromer as Chair of Senate Banking and Insurance. Senator Alexander will be re-elected President of the Senate.

STATE HOUSE OF REPRESENTATIVES – There was no change in the Republican supermajority as they hold 88 seats and Democrats hold 35 seats, with one vacancy.

There were 19 new House members elected for 2025. However, with losses and retirements, the Labor, Commerce, and Industry committee (where most banking legislation goes) will have at least nine new members. The biggest impact in that committee is that Chairman Bill Sandifer, Vice-Chairman Jay West, and Banking Subcommittee Chair Joe Jefferson all lost in either the primary or general election. In all other committees, chairmanship is expected to remain the same. The House returns to organize on December 3rd and 4th to determine chairmanships and other committee assignments.

IMPACT – With supermajorities in the State Senate and House, along with Republican Governor Henry McMaster, the Republicans will be able to pass many of their agenda items with little concern for veto. Since it is the beginning of a new two-year session, there are no items pending and introductions will start in December and January.

In Congress, with former President Trump returning and with Republicans controlling Congress, there will be changes to banking regulator leadership, as well as to many banking regulations. Legislation will also be somewhat easier to pass, although Senate Republicans do not have the 60 votes necessary to defeat a filibuster.

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I S S U E T H R E E 2 0 2 4 • PALMETTO BANKER

New Members of the State Senate District 6 (Greenville)............. Former Rep. Jason Elliott (R) District 12 (Spartanburg)...... Former Rep. Roger Nutt (R) District 17 (Fairfield)............... Everett Stubbs (R) District 22 (Richland)............. Overture Walker (D) District 26 (Lexington)........... Former Rep. Russell Ott (D) District 20 (Charleston)......... Ed Sutton (D) District 23 (Lexington)........... Carlisle Kennedy (R) District 27 (Lancaster)........... Allen Blackman (R) District 29 (Darlington).......... JD Chaplin (R) District 35 (Sumter)................ Jeffrey Graham (D) District 36 (Clarendon)......... Jeff Zell (R) District 39 (Orangeburg)...... Tom Fernandez (R) District 43 (Charleston)......... Former Rep. Matt Leber (R)

New Members of the State House of Representatives District 2 (Oconee)............... Adam Duncan (R) District 3 (Pickens)................. Phillip Bowers (R) District 7 (Anderson)............. Lee Gilreath (R) District 9 (Anderson)............. Blake Sanders (R) District 14 (Laurens)............... Luke Rankin (R) District 20 (Greenville)........... Stephen Frank (R) District 22 (Greenville)........... Paul Wickensimer (R) District 26 (York)..................... David Martin (R) District 28 (Greenville)........... Chris Huff (R) District 32 (Spartanburg)...... Scott Montgomery (R) District 34 (Spartanburg)...... Sarita Edgerton (R) District 54 (Chesterfield)....... Jason Scott Luck (D) District 66 (York)..................... Jackie Terribile (R) District 70 (Richland)............. Robert Reese (D) District 79 (Richland)............. Hamilton Grant (D) District 81 (Aiken).................. Charles Hartz (R) District 93 (Orangeburg)...... Former Rep. Jerry Govan (D) District 102 (Berkeley)............ Harriet Holman (R) District 116 (Charleston)....... James Teeple (R)

The District 113 (Charleston) seat is presently vacant as Rep. Marvin Pendarvis (D) has resigned his seat. A special election will be held in early 2025.

SCBA Proposes Bill to Create a State Law Criminalizing Mail Theft All banks are aware that mail theft leading to check fraud is rampant in South Carolina and has been nationally since the beginning of the COVID-19 pandemic. Yet, in South Carolina, unlike other states, there is no state level offense for mail theft, leaving local authorities fewer options in combatting this crime. SCBA recently met with US Postal Inspection Service (USPIS) officials and has proposed a bill that would establish mail theft as a state offense, making it a felony that carries prison time.

How significant is mail theft leading to check fraud? The Financial Crimes Enforcement Network (FinCEN) reported that mail theft-related fraud amounted to $688 million just from February 2023 to August 2023. During that same period FinCEN received more than 15,400 reports of suspected mail theft-related check fraud Suspicious Activity Reports (SARS) from more than 840 financial institutions, with the amount of one check fraud reported in a single case nearly $45,000 and the median amount of reported check fraud exceeding $14,000. South Carolina’s numbers were equally concerning as check fraud reports from financial institutions went from 3,772 in 2021 to 11,714 in 2023 — more than tripling. Small-to-medium size banks filed a majority of mail theft-related check fraud reports.

Many fraudsters avoided cashing the checks in person by using mobile deposit apps and ATMs, and opening bank accounts online. In many cases, fraudsters used a host of “check washing” techniques to remove the original payee’s name and the original check amount. These techniques range from using chemicals to remove the original ink, to using white-out to cover up those fields. FinCEN reports that criminals in some cases also newly ordered blank checks through the mail, forged the original account holder’s signature, and then issued the checks to themselves or others. In a case last year, federal prosecutors charged a USPS employee with stealing more than $1.6 million in checks from the mail.

I S S U E T H R E E 2 0 2 4 • PALMETTO BANKER

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L e g i s lat i v e U p d at e

This theft is often violent. In many cases criminals rob letter carriers for their arrow keys, which are used to open blue mail collection boxes and collection boxes in neighborhoods and apartment complexes. Criminals then use these arrow keys to steal mail, checks and packages. USPIS reported 628 robberies of postal employees in 2023 and 193 arrests in robbery cases — as well as 93 federal convictions. USPIS reported nearly 1,200 cases of mail theft in fiscal 2023 and made 1,559 arrests. Federal prosecutors saw 1,210 convictions from those mail theft cases.

Ensuring that there are strong criminal penalties is one of the most effective ways to slow this theft and fraud in South Carolina. Although there is a federal level mail theft offense, many times federal authorities will not take a case if it is not big enough, leaving it to state authorities. But with no state level offense in South Carolina, there are less options for local authorities. When a thief in South Carolina steals mail to then commit fraud, local law enforcement and prosecutors need to have the means to charge and punish that criminal.

Fraud is constant and cannot not be eliminated. But what can happen is to make sure that state laws are strong enough to punish these criminals and slow the amount of theft and fraud. SCBA URGES ITS BANKERS TO CONTACT THEIR LOCAL LEGISLATORS AND ASK THEM TO SUPPORT PASSING A MAIL THEFT BILL.

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I S S U E T H R E E 2 0 2 4 • PALMETTO BANKER

12 5 1 2 5

Y E A R S

th

rsary Annive

O F

P R O G R E S S :

PA R T

2

Embracing Change While Cherishing Tradition b y F r e d G r e e n , P r e s i d e n t a n d C E O, S o u t h Ca r o l i n a Ba n k e r s A s s o c i at i o n

This is the second segment on the 125th year anniversary of the SCBA. The last segment covered our first 25 years that ended with the hiring of the SCBA’s first employee, Mr. Henry S. Johnson, who served as secretary, the equivalent of today’s President and CEO. Mr. Johnson’s first address to the 1927 convention focused on legislative success. He said, “The stage was set for an orgy in banking legislation, and the efforts of our Commission and interested bankers served to turn this effort into constructive channels. We came through the Session of the Legislature without a single adverse measure being passed, and I think this, considering all things, is a splendid achievement.”

The 1927 convention also had a report on Banking Education and it was the first time professional development was a major initiative of the SCBA. Back then, American Institute of Banking was the education conduit. Four chapters were established in the state, total enrollment of 225 men and women in class, and 130 received certificates. The report ended with the comment, “It is impossible to estimate the value of these classes to the future of banking in SC!!” This was the predecessor of our SC Bankers School and the many educational events we offer each year.

These comments on education concluded with “We are unequalled in any State. We are evolving a new type of Bank Executive, who, by training and experience, is qualified to discharge capably the exacting duties of the banking profession.”

In reviewing the minutes of the 1928 convention there was even more conversation about education. I found the following report of the afternoon of the second day to be entertaining! “From two o’clock to six, many enthusiastic golfers were seen on the golf course, although no formal tournaments were prepared. At three o’clock under auspices of Myrtle Beach Estates, a delightful automobile and site seeing trip was given the visitors. From four to six p.m. surf bathing was indulged in. There were quite a few entries in the Bathing Beauty Contest. The prize was awarded to Miss Christine Dusenbury, which was a bathing suit. At seven p.m., an informal fish stew was served on the first floor of the pavilion. Cigarettes were dispensed.”

In late 1929, the stock market crash precipitated the Great Depression. Comments from that year’s convention acknowledged an awareness of speculation.… “During the past year the people of the nation have gone upon a wild spree of speculation in securities. The gambling spirit – the desire to get something for nothing – obtained such a grip upon the people of the nation as had not been seen since 1920.”

I S S U E T H R E E 2 0 2 4 • PALMETTO BANKER

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But at the same time, bankers felt like South Carolina was somewhat immune to the speculative risk in the economy … “It is with great satisfaction that I report that the banking situation in South Carolina has greatly improved during the past year, and I believe that our banks are now in better condition than they have been for the past ten years.

I urge upon the bankers of the State to strictly comply with all the banking laws, for confidence can be established better by observing all the laws we now have than by any new legislation. I submit, Gentlemen, that our banking laws are reasonably well provided for the conduct of our business, but our trouble in the past has been the failure to observe the laws we had.”

Between 1930-1933, the Great Depression devastated the country and the banking industry with it. South Carolina had primarily an agrarian economy. As crop prices fell, unemployment increased and many people moved away from rural areas in search of work. Loans originated in the booming 1920s backed by cotton and tobacco profits fell through.

During this 3-year period, 120 banks failed in SC and 5,098 failed nationally. Transcripts from the SCBA 1932-1934 conventions showed much less attendance, implied much fewer bank members, didn’t mention social activities, and all three conventions were held in Columbia. There was no mention of the number of bank members, but the financial statement showed a significant drop in dues and mathematically implies a membership level similar to what we have today.

Most of the comments during these years were operational, but there was a level of introspection about the underlying causes of the bank failures. Some of the comments were:

“Not only were there too many banks, but there were too few bankers.

A great many men came into the profession who had no training or experience to qualify them.”

•

“No minimum capital was required, one or more individuals could apply for a bank charter with an authorized capital of any amount, with only 20% paid in.”

•

“In respect to the great bulk of these failures the chief causes have been classified under two blanket heads – external economic conditions and internal management conditions.

The banks that remained sound, sometimes right across the street from banks that closed, were generally subject to the same pitfalls and adversities as the banks that suspended. They were administered by men who had no divine protection from the fallibilities of human judgement. Yet, there must have been something in the attitude and policies of the men and banks that survived which especially fortified them against the common difficulties that beset banking – something in their management, using this term to cover both technical competence and economic understanding. For economic understanding is an inherent part of bank management, since economic conditions are the very ground on which banks stand and the very air they must live in.”

1929

Herbert Hoover inaugurated as 31st president and the stock market crash precipitates the Great Depression.

12

1932

Hattie Wyatt Caroway of Arkansas is the first woman elected to the US Senate.

Amelia Earhart completes first solo non-stop transatlantic flight by a woman.

I S S U E T H R E E 2 0 2 4 • PALMETTO BANKER

1939 – 1945

Japan attacks Hawaii, Guam, and the Philippines (Dec.7, 1941). U.S. declares war on Japan (Dec. 8).

Germany and Italy declare war on the United States; U.S. reciprocates by declaring war on both countries (Dec. 11). Allies invade France on D-Day ( June 6, 1944).

President Roosevelt dies of a stroke (April 12) and is succeeded by his vice president, Harry Truman.

Germany surrenders unconditionally (May 7).

U.S. drops atomic bomb on Hiroshima, Japan (Aug. 6).

U.S. drops atomic bomb on Nagasaki, Japan (Aug. 9).

Japan agrees to unconditional surrender (Aug. 14).

1945

United Nations is established.

During the period between 1935-1941, the SCBA and its members were coming out of the depths of the depression. Annual Conventions resumed their rotation to other cities throughout the state, the financial condition of the SCBA was improving as membership was growing. There were comments during the conventions about the turmoil around the world, primarily centered around Germany and Japan.

On December 7, 1941 the world changed when Japan attacked Pearl Harbor. The US declared war on Japan on December 8th. Germany and Italy declared war on the United States, and the US reciprocated by declaring war on both countries on December 11.

The Forty-Second Annual Convention of the SCBA was held on May 13-14, 1942 in Columbia. As customary, the convention began with a very touching and somber invocation. The majority of the comments during this convention were about the role bankers play in this new “total war economy.” Topics included War Bonds, a Food for Freedom Program, and post war planning.

One of the guest speakers was a banker from Hanover Bank in New York who was stationed in London during the bombings. He talked about the bomb shelters, food rationing, and massive destruction. He ended his lengthy comments by saying, “The service of banks to the public was at no time impaired during the most trying period in British banking history.”

There were also a lot of South Carolina bankers discussing the role the banks should play in the war effort. I thought these next two quotes best summed up the banking spirit.

“The task which lies before us today – your institution is being judged today and will be judged in the future, not by the amount of your deposits, not by the size of your capital structure, nor by the dividends which you pay to your stockholders.

There is only one yardstick by which to measure our worth today, and that is, WHAT CONTRIBUTION IS YOUR INSTITUTION MAKING TO THE WAR EFFORT? Only those who help by word and deed to win the war can make sure of a part in building the future beyond it.”

•

“The needs of the government are coming first; the profits of business, the earnings of banks, the wants or desires or needs of the people, are coming second. There’s nobody going to ask you whether you are going to make profits in business or not; nobody is going to ask whether the bank is earning money or not. There is nobody going to ask whether you need gasoline or not. Those things are going to be secondary consideration, and not a first one. You can see examples of that in the stoppage of the production of automobiles, refrigerators, vacuum cleaners, and you will see, before this week is over another example of it when you stand in line for your gas card.”

During World War II, SCBA continued to have annual meetings and much of the program was dedicated to the war effort and the banker’s role in it. Germany surrendered on May 7, 1945 followed by Japan on August 14, 1945.

1947

Central Intelligence Agency is established.

1948

Soviets begin blockade of Berlin in the first major crisis of the Cold War.

1949

North Atlantic Treaty Organization (NATO) was established.

1950 – 1953

North Korea communists invade South Korea.

President Truman, without approval of Congress, commits American troops to battle.

Truman also sends 35 military advisors to South Vietnam.

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The first record I could find of a convention held after the war was 1947. The meeting was focused on the topic of “Public Relations Has a Part in Better Banking.” Subcategories included Employee Relations, Customer Relations, Community Relations, Relations with Small Business and concluded with Public and Press Relations.

I think this quote from 1947 is as appropriate today as it was then:

“Through the years it has been a matter of taken-for-granted attitude that a bank ‘belongs’ to its community, just like the firehouse, the post office, the church and the schoolhouse. And if bankers would apply more time toward making their bank a bigger part of its community, much good will would result.

This should be easier for a bank to do than for almost any other business.

For instance: Practically every one of America’s banks is located right in the middle of the community which it serves. It sits at the hub of the town.

And like a wheel around its hub, the economic life of the town likewise revolves around the bank.”

The Fiftieth Annual Convention was held at the Francis Marion Hotel in Charleston on May 19-20, 1950. President Harry M. Arthur of Arthur State Bank presided. In addition to celebrating this 50 year milestone, the business session discussed important topics in a post-war economy. The FHA, Housing shortages, and the GI Bill were the main topics.

Most of our bankers today never met General Arthur, but everyone knows his grandson, Carlisle Oxner, Chairman of Arthur State Bank. Many would not know that Sullivans Island and Isle of Palms were originally developed as housing units under the GI Bill for veterans returning from the war. Based on the homes there now, it’s hard to imagine the rows of small cinder block houses that were originally built there. I remember there were still several there up through the late 70’s.

The last book of the transcripts of the convention was at the Fifty-Third Convention at Ocean Forest Hotel in Myrtle Beach. Charles A. Laffitte, President of Carolina Commercial Bank in Allendale presided. Carolina Commercial today is Palmetto State Bank, and Mr. Laffitte’s decedents are actively involved in the bank.

Other officers included Dwight Patterson, President of the Palmetto Bank, Laurens who became Chairman of the SCBA in 1955. His son, Leon Patterson, chaired our Association in 1986.

Hugh C. Lane, President of the C&S National Bank, Charleston was Third Vice-Chairman and he chaired the SCBA in 1956. His son, Hugh Lane, Jr., founded the Bank of South Carolina and remains its Chair today.

As we walk down this memory lane leading up to our 125th year anniversary to be held on June 23-26, 2025 at the Cloister at Sea Island, I hope you have enjoyed some of this history. The source of information going forward will be past editions of our Palmetto Banker magazine. We will include many photos of bankers we all know in their early years.

Harry M. Arthur Arthur State Bank SCBA Chairman 1949-50 14

Charles A. Laffitte Carolina Commercial Bank SCBA Chairman 1953-54

I S S U E T H R E E 2 0 2 4 • PALMETTO BANKER

Dwight F. Patterson The Palmetto Bank SCBA Chairman 1955-56

Hugh C. Lane C&S National Bank SCBA Chairman 1956-57

Join Us! 12 5

th

rsary Annive

2 025 ANNUA L CONVE NTI ON & TRADE SH O W June 23–26 | The Cloister at Sea Island, Sea Island, GA

Join us for an unforgettable experience at our Special 125th Anniversary Celebration during the 2025 Annual Convention and Tradeshow! Set against the stunning backdrop of the five-star, award-winning Cloister at Sea Island, this magnificent event unfolds over 50 lush acres surrounded by the river, saltwater marshes, and the sea, with five miles of private coastline to explore. In addition to insightful business sessions featuring our distinguished speakers, indulge in a myriad of delightful activities and discover the charming allure of this exquisite island paradise.

Don’t let this extraordinary celebration pass you by!

Featured Speakers

TOM BARKIN

President and CEO Federal Reserve Bank of Richmond

DR. MELISSA FURMAN Owner and Founder Career Potential, LLC

ROB NICHOLS

President and CEO American Bankers Association

PLUS, A Special Prayer Breakfast by:

DUSTIN F. COLQUITT

Former Professional NFL Player

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Join Us!

2 025 A NNUA L CONVENTI ON & TRADE SH O W June 23–26 | The Cloister at Sea Island, Sea Island, GA

There’s something for everyone at The Cloister — registration will be open soon!

Now is the Time…

BDC Lending Team (pictured left to right): Holly Broome, Nat Green, Peter Shand and Rob Evans.

TO PARTNER WITH BDC FOR SBA & SSBCI LENDING EXPERTISE When you partner with BDC, our dedicated lending team handles the weight of the loan process, freeing up your time to focus on what matters most — building strong relationships with your clients.

Time to make a difference? Contact BDC today and learn how we can help you become the hero for your small business clients.

A Leader in Small Business Lending

BDCofSC.com

N at i o nal A wa r d s & Appointments

Jennifer Jones Elected to ABA Board of Directors and Chair of ABA’s Community Bankers Council Jennifer T. Jones, President and CEO, CBL State Savings Bank, Geer, SC, and current chair of SCBA, was elected to the American Bankers Association Board of Directors and as chair of ABA’s Community Bankers Council for the 2024-2025 association year. The Community Bankers Council consists of bank presidents and CEOs from across the country. As CBC chair, Jones will lead the Council’s efforts and represent the group’s collective viewpoint on Capitol Hill, at conferences and during high-level industry meetings.

Jennifer T. Jones President and CEO CBL State Savings Bank

“Community banks play an essential role in their local markets, but they also help drive the broader U.S. economy,” said Jones. “I’m honored to assume this important role within ABA representing the nation’s community banks, and I look forward to working with my fellow council members to ensure smaller institutions can continue to grow and succeed well into the future.”

Wayne Wicker Named Treasurer of ABA’s Board of Directors K. Wayne Wicker, Chairman and CEO, South Atlantic Bank, Myrtle Beach, SC, was elected Treasurer of the 2024-25 Amercian Bankers Association Board of directors at the Annual Convention in New York City last October. Wicker began serving on ABA’s Board of Directors for the 2022-23 association year.

K. Wayne Wicker Chairman and CEO South Atlantic Bank

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“It’s an honor to be elected Treasurer of the American Bankers Association’s board of directors. I’ve enjoyed serving on the board for the past two years and working closely with bankers from across the country to contribute to the future of our industry. The ABA plays a vital role in shaping the country’s financial landscape, and I’m proud to play a part.”

I S S U E T H R E E 2 0 2 4 • PALMETTO BANKER

Fred Green, President and CEO, South Carolina Bankers Association with 2024 ABA Emerging Leader Award recipient Margi Fleming of The Citizens Bank, and her husband, Josh, of Florence.

Margi Fleming Honored By American Bankers Association with Emerging Leader Award Margi McCaslan Fleming of The Citizens Bank in Florence, South Carolina was selected by ABA as one of our industry’s most accomplished emerging leaders in the county. Margi was honored at the American Bankers Association’s Annual Convention last October as one of only twelve recipients from around the country of the 2024 ABA Emerging Leaders Award. This award recognizes the next generation of bank leaders who are committed to the highest standards of achievement and service to both their industry and local communities. The winners were selected by a diverse steering committee of industry professionals after a review of nominations from banks across the country. The qualities and characteristics the committee evaluated as judging criteria included dedication to the profession, inventiveness, leadership skills, mentoring ability, personal integrity, tenure at the bank and broader commitment to a career in banking, sustained career progress, and academic training including advanced degrees and certificates/certifications. “I have seen first-hand that Margi excels at these qualities,” said Fred Green, President and CEO of South Carolina Bankers Association. Margi is currently Chair-elect of SCBA’s Emerging Leaders Board, she serves on the faculty of The South Carolina Bankers School, and is actively involved in SCBA’s Human Resources Committee.

Margi is a native of Abbeville, SC. She is married to Joshua Fleming and they are proud parents of two daughters, Addison and Campbell. Margi holds the position of Senior Vice President at The Citizens Bank, where she oversees Human Resources, Marketing, and Branch Administration. Margi’s journey with the bank began in 2006 as a Mortgage Lender. She transitioned to Human Resources in 2008, took on additional Marketing responsibilities in 2012, and expanded her leadership to include Branch Administration in 2021. Her dedication to professional growth is exemplified by her recent achievement of the Certified Plan Sponsor Professional (CPSP) certification in 2023. Margi is passionate about community banking, actively advocating for the industry at local, state, and national levels. Margi is a proud graduate of Winthrop University, where she earned a degree in Business Administration with a focus on Entrepreneurship and is an alumna of the South Carolina Bankers School.

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Emerging Leaders Division

2024

Emerging Leaders Division Annual Scholarship Golf Tournament

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The Emerging Leaders Division Annual Scholarship Golf Tournament achieved great success at the Columbia Country Club on September 30, 2024. With a sold-out field of golfers and 45 sponsors, the event showcased the outstanding commitment of the banking community towards fostering educational opportunities in South Carolina.

The success of the Emerging Leaders Division Annual Scholarship Golf Tournament was measured not only by the incredible turnout, but also by the funds raised for the Palmetto Scholarships. This Tournament raised $39,000 and will help the SCBA provide college scholarships to deserving children of SCBA member bank employees.

The tournament provided an exceptional platform for participants to not only showcase their golfing skills but also network with industry professionals. Bankers, associate members, and friends alike enjoyed the fantastic weather, creating great memories together.

Congratulations to this year’s chair, Jeff Manning of SouthState Bank, for an excellent tournament.

I S S U E T H R E E 2 0 2 4 • PALMETTO BANKER

Please contact Carolyn Bradley for sponsorship opportunities and more information on our 2025 Scholarship Golf Tournament at (803) 779-0850 or carolynbradley@scbankers.org.

Thank You Sponsors

Congratulations to the WINNING TEAM: (left to right) Austin McVey, United Community Bank, Columbia; Jeff Wilson, United Community Bank, Mt. Pleasant; Matt D’Andrea, United Community Bank, Mt. Pleasant; and Brice Sprayberry, United Community Bank, Mt. Pleasant; pictured with Jeff Manning, SouthState Bank, Columbia, and Golf Tournament chair.

(Absent from winning team photo is David Glenn, United Community Bank, Columbia)

Congratulations to Brice Sprayberry (left) with United Community Bank, for winning CLOSEST TO PIN.

“If you’re not first, you’re last!!” Better luck next year to (left to right) Richard Pierce, Michael Tecosky, Devin Patro and Drew Schiavone of Pinnancle Financial Partners in Charleston, SC.

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Emerging Leaders Division

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I S S U E T H R E E 2 0 2 4 • PALMETTO BANKER

Photo Recap

2024 ANNUAL SCHOLARSHIP GOLF TOURNAMENT

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2025 EMERGING LEADERS ANNUAL CONFERENCE March 14-16 • The Westin Hilton Head Island Resort & Spa Hilton Head Island, SC We are excited to announce the upcoming Annual Conference of the Emerging Leaders Division, taking place at the stunning Westin Hilton Head Island Resort & Spa. Celebrating 70 years of fostering professional growth and development, the Emerging Leaders Division remains committed to its enduring objectives: cultivating professional skills, building vital relationships among bankers across the state, and engaging in meaningful industry initiatives.

This conference serves as the premier networking event for emerging leaders in the banking industry, designed to promote leadership development, enhance career knowledge, and create valuable business networking opportunities. Under the leadership of this year’s Chair, Othniel W. Laffitte of First Bank in Greenville, SC, along with the Emerging Leaders Board of Directors, we invite you to participate in this enriching experience.

Join us for a memorable journey filled with learning, connection, and community engagement.

We look forward to welcoming you!

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I S S U E T H R E E 2 0 2 4 • PALMETTO BANKER

2025 Annual Conference Featured Speakers...

BARBARA MELVIN President and CEO, South Carolina Ports

NATHAN STOVALL Director, Financial Institutions Research S&P Global Market Intelligence

CARLOS EVANS Chairman, Salem Capital, LLC

ROBERT J. ENGSTROM, JR. Founder and CEO, Wolfe Street Partners

CHARLIE HALL President, Upstate Warrior Solution US Marine Corps Reserves

SAVE THE

DATE!

Registra tion will be open Many th anks to o soon. u r current s addition ponsors.. al spono . rship op portunitie are still a s vailable .

For more informati please c on, ontact C arolyn L. carolynb Bradley, radley@ scbanke rs.org.

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Emerging Leaders Division

2024 Emerging Leaders Division BankPAC Sporting Clays Tournament The Emerging Leaders Division annual BankPAC Sporting Clays Tournament Fundraiser was held November 20 at the Palmetto Shooting Complex in Edgefield, SC. The proceeds from this tournament are contributed to the SCBA StatePAC. Nearly $30,000 was raised, with a record number of participants and sponsors. It was a great day of friendly competition and networking to support those who support the banking industry in South Carolina.

Congratulations to our winners and much gratitude to our sponsors who made this event possible.

Please contact Carolyn Bradley for sponsorship opportunities, and more information on our 2025 BankPAC Sporting Clays Tournament at (803) 779-0850 or carolynbradley@scbankers.org.

Congratulations to the WINNING TEAM: (left to right) Blake Dressler, First Reliance Bank and Clays Tournament Chair; Ben Barnhill, Nelson Mullins Riley & Scarborough, LLP; Duffie Powers, Gallivan, White & Boyd, P.A.; Michael Boozer, Integrated Financial Solutions; Ben Skelley, AgSouth Farm Credit.

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I S S U E T H R E E 2 0 2 4 • PALMETTO BANKER

Thank You Sponsors

Congratulations to the HIGHEST FEMALE SHOOTER: Crystal Martin, Security Federal Bank.

Congratulations to the HIGHEST MALE SHOOTER: Todd Tyler, Brown and Brown Insurance Services.

Emerging Leaders Division

Photo Recap

2024 BANKPAC SPORTING CLAYS TOURNAMENT

Wishing you a happy and healthy holiday season!

Not your average town.

We all love the holiday season when the streets of Columbia light up throughout the night. While so many cities do the same, the warmth of southern hospitality really heats up this time of year and makes our holiday season even more special.

When you’re out celebrating the season, the certified public accountants at Scott and Company hope you have time to think about everything that makes life more than ordinary.

Suite 800 | Columbia, SC 29201 | (803) 256-6021

As banking continues to undergo dramatic developments, we must look for ways to help our members retain business, offer first rate service, and increase revenue. The mission of SCBA Services, Inc. is to recognize the unique needs of our bankers, and to review and recommend products and services, which could help make community banks more profitable and efficient. Each of our partners provide top quality services, offer generous benefits, and can add value to your institution.

We are proud to partner with the companies listed here and are so very grateful for their support of the South Carolina Bankers Association and our members.

C RED IT CAR D PR OCE SSI N G

MEMBER BENEFITS • Increase customer retention • Drive additional revenue • 24/7 local customer support • Competitive pricing • Customized program to fit your client’s needs • Face to face consultive meeting • No contracts for banking clients Contact: Nick Brown, Senior Vice President, Market Leader 864.680.0879 Nbrown@banccard.com www.banccard.com

H U M A N CA P I TA L M A N A G E M E N T

MEMBER BENEFITS • Special pricing and discounts for SCBA members • One point of contact for all your payroll, HR, tax and reporting needs • Multiple ways to process: phone, e-mail, or PC-based payroll with real-time access to your data (a solution designed for you) • A fully integrated cloud based HRIS Platform that includes Applicant Tracking, Benefit Administration, Performance Management, Timekeeping components with configurable Workflows and Electronic Personnel files all in one system • Cost effective often 20-50% less than other national payroll vendors • Affordable Care Act (ACA) and Paycheck Protection Program (PPP) reporting with tracking tools. Dedicated ACA and PPP specialists at CBIZ • HR Solutions Service with an expanded handbook builder that assures compliance in all 50 states, Online HR audit checklist to quickly assess HR compliance risks and Unlimited usage of a Live Hotline Contact: Christopher Tanis, CPA, National Accounts and Strategic Partnerships 908.698.0404 Christopher.Tanis@CBIZ.com Sherry Burick, SC District Manager 336.462.7838 Sherry.Burick@cbiz.com www.cbiz.com

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TITLING AND R EGIS TR AT I O N SERVI C ES

MEMBER BENEFITS • Complete consolidation of titling and registration services • Multiple integration and automation options to include uploads and bulk lien releases • Improved exception handling via auto-perfect process to minimize staff involvement • Complete customization and flexibility to meet your title process needs • Easy-to-use, yet feature rich application • State library provides built-in forms and state specific information Contact: Anthony Lipinski, ELT Inside Sales Representative 803.490.3244 anthony.lipinski@dditechnology.com www.dditechnology.com

INSUR ANCE & F INAN C I A L SERVI C ES

MEMBER BENEFITS • Global resources to help you run your business more effectively.

• Regional operating structure enables us to focus on local service and respond quickly to changing market conditions • Local insurance professionals supported delivering global resources • Preferred broker with all national as well as key regional insurance companies • Premium volume provides negotiating leverage with insurance companies • International risk management consulting and insurance brokerage services Contact: Mac Humphries, Senior Vice President 803.227.4827 mac.humphries@hubinternational.com www.hubinternational.com

F I N A N CI A L S E RV I CE S

MEMBER BENEFITS • Attract and maintain valuable customer relationships • Grow reciprocal deposits • Manage liquidity and generate fee income • Diversify funding • Reduce collateralization Contact: Danny Capitel, Managing Director 866.776.6426 ext. 3476 dcapitel@intrafi.com www.IntraFi.com

B A N K O W N E D L I F E I N S U R A N CE

MEMBER BENEFITS • Bank-Owned Life Insurance (BOLI) expertise • Tailored executive benefit plan design • Administration solutions for BOLI and nonqualified benefit plans • Review of existing BOLI and nonqualified benefit plans • Seamless approach from design to implementation Contact: Glenn Blackwood, Managing Consultant 561.798.5620 glenn.blackwood@nfp.com executivebenefits.nfp.com

O F F I CE S U P P L I E S

MEMBER BENEFITS • More than 1,300 discounted items frequently used by the banking industry • Free delivery on qualifying orders of $50 or more • South Carolina Bankers Association contract pricing via our Employee Purchase Program • Cost-saving tools, reporting, and bill management • Quarterly business reviews Contact: Kimberly Gilbert, Account Manager 855.337.6811 x.12815 Kimberly.Gilbert@odpbusiness.com odpbusiness.com

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NO N- PR OFIT EDU CAT I O N LEN D ER

D ATA & A N A LY T I CA L T O O L S

MEMBER BENEFITS • Strengthened partnership between the bank and customer • Over 45 years helping students attend college • No origination or application fees • Flexible repayment options • Fixed and variable rates available • Online loan applications • Online resource for college funding options • Uncompromised service

MEMBER BENEFITS • Less time spent on board and regulatory reporting for greater focus on revenue • Daily views into overall performance and operations of your bank vs. budget • Loan and deposit cash flow analysis for improved balance sheet management • Improved credit administration with faster identification of high-risk loans • Smarter personnel management to improve efficiency • Targeted customer profiles for greater, successful cross-sells • More effective marketing campaigns to grow business and reduce redundant expenses

Contact: Ray Jones, Vice President of Loan Programs 803.612.5062 rjones@scstudentloan.org www.scstudentloan.org

FINANCIAL S ERVICES

Contact: Ryan Chakalos, Relationship Manager, Sales Strategy and Financial Partnerships 434.529.2870 Ryan.Chakalos@spglobal.com spglobal.com/marketintelligence

V E N D O R CO N T R A CT & S T R AT E G I C A D V I S O RY SERV ICES

MEMBER BENEFITS • Twenty percent of net profit is shared with the SCBA member bank • Compliance is managed by ServisFirst, which holds all the outstanding balances • Banks have the option to guarantee declined accounts (after review) and receive 80 percent of net profit share • Cardholder support is provided 24/7 • Bank customers can choose from four types of cards, including a platinum benefits card and a cash back rewards card for both consumers and business customers • ServisFirst Bank also offers a customized purchase card program, which allows a higher amount of control and monitoring for business owners • The card program’s implementation fee will be waived for SCBA members that are also members of the American Bankers Association Contact: Tim Finney, Senior Vice President, Correspondent Sales Manager 478.952.6497 tfinney@servisfirstbank.com www.servisfirstbank.com

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I S S U E T H R E E 2 0 2 4 • PALMETTO BANKER

MEMBER BENEFITS • Experienced, highly specialized advisors in all facets of contract and bank operations management • Fair-market benchmark analysis using data from hundreds of peer institutions • Current market data around disruptive tech trends in payments and banking • Flexible, project-based engagements • SRM is proud to be a preferred vendor of SCBA and offers its members a no-cost assessment.

Contact: Dana Davis, Senior Vice President 704.906.0440 ddavis@srmcorp.com www.srmcorp.com

RE TAIL CHECK ING S E RVI C ES P R O VI D ER

CH E CK P R I N T I N G & M A R K E T I N G S O L U T I O N S

MEMBER BENEFITS • Customer-friendly, recurring fee income • Enhanced customer experience beyond banking transactions • Retail checking performance analytics, benchmarks and action plans • Prescriptive design and construction of modern, top performing checking products • Aligning and simplifying the checking lineup with how consumers buy • Prescriptive market research • White-label mobile app product delivery • In-demand, consumer appealing, competitively different product benefits

MEMBER BENEFITS • Very customer-focused • Adapts rapidly to change • Focuses on the vital few initiatives that will have the greatest positive impact • Makes fact-based decisions • Develops and engages employees to deliver our plans • Continuously improves processes and performance • Creates a perpetual drive for sustainable growth

Contact: Adam Thompson, Director of Sales 615.519.7907 adam.thompson@strategycorps.com www.strategycorps.com

Contact: Janine E. Ciranni Account Executive III 704.526.7910 Janine.Ciranni@vericast.com www.Vericast.com

INSURA NCE S ERVICE S

MEMBER BENEFITS • Effective insurance solutions for more than 160 years • Addresses the needs of a wide range of industries • Consistently receives high marks from independent ratings agencies for financial strength and claims-paying ability • Offices nationwide­=national strength and local presence • Dedicated underwriters and claim professionals offer extensive industry and product knowledge Contact: Luis Lima, Account Executive 704.544.3704 LLima@travelers.com www.travelers.com/business-insurance

Thank you to all of our Preferred Vendors!

For more information, please contact: Carolyn Laffitte Bradley carolynbradley@scbankers.org

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New Members

Welcome

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

Element Advisors – FP & WM 1201 Main Street, Suite 1980 Columbia, SC 29201 (803) 748-1224 www.elementsc.co Mr. Lawton R. Smith Financial Advisor, Wealth Manager 1201 Main Street, Suite 1980 Columbia, SC 29201 (803) 748-1224 lawton@elementsc.CO

Finovifi 850 Corporate Parkway Suite 110-A Birmingham, AL 35242 (205) 981-4474 Finovifi.com Mr. Coy B. Ogle SVP Fintech Enterprise Sales 850 Corporate Parkway Suite 110-A Birmingham, AL 35242 (251) 277-2770 Cogle@finovifi.com

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I S S U E T H R E E 2 0 2 4 • PALMETTO BANKER

Element Advisors – Financial Planning & Wealth Management, through exceptional thought, process, and product leadership, helps individuals and institutions achieve their short and long-term goals.

Element Advisors has partnered with LPL Financial for trading, advisory, and planning solutions as well as many other industry leaders to develop and enhance innovative solutions for our clients.

As of March of 2024, LPL leads the industry in number of financial institutions supported, generating over $1.4b in gross revenue annually. Element Advisors strives to operate in compliment to other bank resources that are generating fee-income, attracting clients, and retaining those clients. We look forward to supporting SCBA members in those efforts.

At Finovifi, we are dedicated to empowering community financial institutions with cutting-edge technology to combat fraud, streamline compliance, and optimize core processing operations.

By leveraging AI-driven solutions, we provide advanced tools designed to address the unique challenges of community banks, helping them remain competitive in an increasingly digital world.

With a legacy of service dating back to the 1990s, Finovifi’s leadership has consistently delivered innovative, tailored solutions that enable community financial institutions to thrive. Our mission is to equip these institutions with the technology and expertise needed to ensure security, efficiency, and sustained success in the modern financial landscape.

GoldTech, Inc. 301 N Main Street, Suite 1115 Greenville, SC 29601 (864) 294-0138 goldtechservices.com Mr. J. Kelly Orr 320 Mountain Summit Road Travelers Rest, SC 29690 (864) 404-3301 kelly@goldtechservices.com

KSB Consulting, Ltd 124 Reynolda Village Winston Salem, NC 27106 (336) 918-2134 ksbconsulting.com Mr. Brian Soper President & Manager, Financial Services Practice 1959 N. Peacehaven Road Winston Salem, NC 27106 (336) 918-2134 bsoper@ksbconsulting.com

GoldTech offers a cutting-edge POS and store management software system designed to empower retailers of all sizes, enabling them to operate like major retailers without the daunting costs typically associated with such capabilities. With the ability to scale from 1 to 99,999 POS lanes and stores, it offers comprehensive inventory and warehouse management, ensuring complete fault tolerance and self-healing features for uninterrupted service. Retailers gain valuable insights through robust analytics that track sales performance, while dedicated support and a SaaS model contribute to ongoing revenue streams through processing. Additionally, GoldTech boasts no monthly fees and utilizes reliable HP POS hardware alongside Verifone M400 payment terminals, making it the perfect choice for businesses looking to thrive in a competitive environment.

KSB Consulting is a North Carolina based search firm specializing in Executive and Senior-Level search services for banking clients in the Carolinas. We have been working with financial institutions for more than 20 years, including engagements throughout the Upstate, Midlands and Lowcountry regions of SC. It is our belief that finding the right people for our clients requires specific knowledge of not only the job profile, but also the client’s business model, culture, challenges and values.

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.

COMING IN 2025....

We are currently working on an integrated, searchable associate member directory that will be accessible to members through our website. Stay tuned for more information!

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WHEN PUBLIC NOTICES REACH THE PUBLIC, EVERYONE BENEFITS. In addition to publishing public notices and legal advertisements in your local newspaper, notices from all S.C. newspapers are now also available online, free of charge and in one convenient location.

SCPublicNotices.com is designed to help citizens and businesses know more about the actions of local, county and state government and the courts.

There’s no better way to notify the public than through the combination of South Carolina newspapers and SCPublicNotices.com... the permanency of print paired with the accessibility of a statewide, searchable site.

SUBSCRIBE to the site’s Smart Search function to receive revelant public notices emailed to you daily. Email admin@scpublicnotices.com for a 30-day free trial of Smart Search.

SCPublicNotices.com This free service is provided by the Palmetto State’s newspapers.

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I S S U E T H R E E 2 0 2 4 • PALMETTO BANKER

P e r s o nal T r an s a c t i o n s

Michele Rogers

Doug Shaffer

Collier Schettig

J. Jordan Pierce

Jimmy Bailey

Kevin Lee

ANDERSON BROTHERS BANK

FIRST COMMUNITY BANK

SOUTHERN FIRST BANK

Michele Rogers has been promoted to marketing project manager.

J. Jordan Pierce has been been named regional market president for the bank’s CSRA region.

Mr. Pierce succeeds retiring regional market president Jeff Spears who led the CSRA region for First Community Bank since its acquisition of Savannah River Banking Company in 2014.

Jimmy Bailey has been appointed to regional president in Charleston, SC.

Doug Shaffer has joined as new commercial loan officer in North Myrtle Beach.

Collier Schettig has been promoted to vice president-Grand Strand regional executive.

Let’s find a way.

Kevin Lee has been appointed to executive director of market support.

We have a reputation in South Carolina as a preferred partner for Correspondent Banking.

First Horizon Correspondent Banking is a leading choice for South Carolina banks. Benefit from the expertise of a dedicated Relationship Manager who has a deep understanding of Correspondent Banking to provide you with tailored solutions – from expert advice to quick decisioning for the capital you need.

Melisa Ainley Senior Vice President Correspondent Banking Relationship Manager (M) 901-568-3341 (O) 941-487-3074 maainley@firsthorizon.com ©2024 First Horizon Bank. Member FDIC.

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B an k i n g News

COUNTYBANK

SOUTHERN FIRST BANK

On Saturday, September 28, just one day after Hurricane Helene, Countybank employees opened one of the bank’s locations in Greenwood for its regular Saturday hours, so that customers could access cash to purchase supplies for storm cleanup and recovery. Even while many employees faced their own difficult circumstances at home, these hometown heroes utilized the bank’s power generators and implemented disaster recovery procedures to manually process transactions for customers. Countybank’s employees went above and beyond to open all locations the Monday immediately following the storm, helping customers file insurance claims and access cash to begin recovering from the storm. On Thursday, October 3, employees of Countybank met with the local United Way chapter to learn about opportunities to financially support disaster relief in Upstate South Carolina. As of press time, nearly 90% of employees had already pledged a personal contribution to United Way.

Blake Taylor and Clarke Walker of Southern First Bank in Cayce, taught a Financial Literacy class for about 20 new Deputy Sheriffs completing their training with the Richland County Sheriff’s Department (RCSD) in September.

THE PEOPLES BANK The Peoples Bank is excited to announce the ground breaking at their new branch in Powdersville, SC. This ceremony is a celebration of collaboration, dedication, and a shared commitment to the community.

FIRST CITIZENS BANK South Carolina Independent Colleges and Universities (SCICU) announced a generous gift from First Citizens Bank in the amount of $10,000. This contribution will go toward SCICU’s Student Lifeline Grant Program, which provides financial relief to students experiencing unexpected hardships at all 21 SCICU member institutions.

The Student Lifeline Grant Program plays a vital role in ensuring that students facing sudden financial crises — such as medical emergencies, family difficulties, or unanticipated bills — can continue their education uninterrupted. By covering essential expenses like tuition, housing, and textbooks, the grants offer students a lifeline in their times of greatest need.

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They have also expanded their footprint to the Greenville market. The new Loan Production Office at 1444 Laurens Road is open by appointment only.

TD BANK, N.A.

WELLS FARGO

TD Bank, N.A. announced $500,000 in contributions to support local relief efforts in parts of Florida, North Carolina and South Carolina following Hurricane Helene. TD donated $300,000 to non-profit organizations in North Carolina, $100,000 in South Carolina and $100,000 in Florida.

TD colleagues may also donate voluntary amounts to select local non-profits in the three states through the bank’s employee giving portal, which the bank will match dollar-for-dollar up to $50,000 total.

Wells Fargo donated more than $1 million for urgent needs such as shelter, supplies, and other ongoing support for residents impacted by devastation caused by Hurricane Helene in North Carolina, South Carolina and Florida.

“TD is unequivocally committed to helping our customers, colleagues and community members in this difficult time,” said Chris Ward, Regional President of the Mid-South Metro, TD Bank. “The devastation in the central and western parts of North and South Carolina is unprecedented in the region, and we extend our support during the long road to recovery.”

In addition, Wells Fargo is an annual contributor to Team Rubicon’s Ready Reserve Fund, which enables its volunteers to immediately respond to communities impacted by disasters, beginning with route clearance and debris removal from roads so first responders and aid workers can better access impacted communities. Team Rubicon is a veteran-led humanitarian organization that supports before, during, and after natural disasters and other crises.

In addition, eligible TD employees impacted by Helene have access to a range of resources, including the opportunity to obtain small grants from the bank to help with costs such as insurance deductibles and certain personal, family, funeral or living expenses.

“With the widespread destruction brought by Hurricane Helene, we need to come together to help communities recover,” said Darlene Goins, president of the Wells Fargo Foundation.

The Wells Fargo Foundation, committed to empowering small businesses, joined the Benedict College Statewide Investment Accelerator (BCSIA) today in a joint press conference. The innovative program received a $100,000 donation from the Wells Fargo Foundation to support the BCSIA graduates’ businesses. The statewide program is open to all entrepreneurs.

Let us know the latest news at YOUR bank! Please send text and high resolution photos to dkrell@scbankers.org.

www.scbankers.org

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803.779.0850 I S S U E T H R E E 2 0 2 4 • PALMETTO BANKER

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P R O F E S S I O N A L

D E V E L O P M E N T

Calendar of Events January 13 14

Community Bankers Conference MONDAY 1:30 PM – 6:30 PM TUESDAY 7:30 AM – 3:00 PM The Community Bankers Conference is specifically designed for community bankers and associates to come together for educational presentations and to learn about opportunities and challenges that are specific to community banks. Our speakers will present topics that are on-point with today’s banking environment.

February 4 6

Commercial Lending School TUESDAY 8:30 AM – 4:30 PM WEDNESDAY 8:30 AM – 4:30 PM THURSDAY 8:30 AM – 4:30 PM This school is designed to provide the commercial lender, senior loan support officer, or loan review officer with the tools required to generate and support the commercial lending function of the bank. The class will build the skills required to support the analysis of commercial borrower’s financial statements and to support the regulatory requirements for risk management.

LOCATION: SpringHill Suites by Marriott, Columbia Downtown/The Vista 511 Lady St, Columbia, SC 29201

LOCATION: Hilton Columbia Center 924 Senate Street Columbia, SC 29201

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BSA/AML/CFT Workshop TUESDAY 9:00 AM – 4:00 PM WEDNESDAY 9:00 AM – 3:00 PM This program is designed to enhance the skills of your Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Combating the Financing of Terrorism (CFT) support staff, your independent audit team, and any personnel responsible for managing and maintaining a strong BSA/AML/CFT program.

LOCATION: SpringHill Suites by Marriott, Columbia Downtown/The Vista 511 Lady Street Columbia, SC 29201

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Human Resources Conference TUESDAY 9:00 AM – 3:30 PM From recruitment to selection, performance management and retention, the human resource function has a direct impact on an organization’s productivity and bottom-line results. The human resource function is a critical element to a financial institution’s profitability.

The SCBA Human Resources Committee has developed a one-day conference to bring human resource managers up-to-date on the latest trends and changes in their field.

LOCATION: SpringHill Suites by Marriott, Columbia Downtown/The Vista 511 Lady St, Columbia, SC 29201

TBD Bank Operations & Technology Conference and Trade Show 9:00 AM – 3:30 PM Explore the rising external fraud threats and operational challenges faced by financial institutions. This conference will equip attendees with valuable insights to effectively mitigate risks and ensure compliance with regulatory requirements.

LOCATION: Columbia, SC

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March 3 4

Carolinas Bank Directors and Executive Summit 2025

April TBD

MONDAY 1:00 PM – 5:00 PM TUESDAY 8:00 AM – 1:00 PM This two day program is a premier event dedicated to helping bank directors and management teams from across the Carolinas stay informed, strategic, and competitive. Hosted by the North Carolina Bankers Association, the North Carolina Commissioner of Banks, the South Carolina Bankers Association, and the South Carolina Commissioner of Banking, this summit provides an unparalleled opportunity to connect with decision-makers shaping the future of banking.

LOCATION: UNC Charlotte Marriott Hotel & Conference Center 9041 Robert D. Snyder Road Charlotte, NC 28262

Women in Banking Leadership Symposium This Symposium will feature a strong lineup of accomplished businesswomen who will help women bankers be more effective leaders and bankers. The program will broaden awareness and knowledge of key industry issues, as well as inspire and empower from stories of success and experience, with plenty of time to network with peers from across the state.

LOCATION: Columbia, SC

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Asset Liability Management Conference WEDNESDAY 9:00 AM – 3:30 PM This program will benefit bankers who manage daily financial risk management challenges in the asset liability arena.

LOCATION: Columbia, SC

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Easy Steps to Navigate Our New Website Portal Many of you have visited our newly redesigned website and we hope that you’ve found the new look and updated content engaging. Although less visible to you, but equally important, is our new core system that is running behind the scenes. This new system will help us to stay better connected and improve your experience when interacting with us digitally. Please take some time to visit scbankers.org, login to the new member portal, and review and update your profile information. There is a link to log into the new member portal on the top right corner of the new site.

If you are logging into the member portal for the first time, please click the “Forgot your password?” link, enter your email address and follow the prompts to reset your password.

Once your password is updated, please update your profile so that we can better serve you in the future. While in the new portal, we encourage you to check out the upcoming events. Registering for events is now easier than ever. For your convenience, there is an easy to use “How To’s” section in the top ribbon of the portal.

If you have administrative rights to your organization, you’ll easily be able to toggle between your personal profile and your organization’s profile within the portal. If you do not have administrative rights to your organization but should, please reach out to Rick Green at rickgreen@scbankers.org.

And as always, we’re here to help you so don’t hesitate to call us at (803) 779-0850 if you need assistance.

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SCBA’S PALMETTO SCHOLARSHIP = $1250 for eligible member bank employees’ college students

As a benefit of your membership in SCBA, children of member bank employees who are rising juniors or seniors in college, as well as part-time employees currently enrolled in college, are eligible to apply for the Palmetto Scholarship.

This scholarship program was established thirteen years ago when SCBA directed funds into an Educational Foundation, with the goal of offering $1,250 scholarships to children of employees of SCBA-member banks. It serves as a “dividend” of sorts to our member institutions.

For over a century, the South Carolina Bankers Association has been fortunate to receive strong support from its member institutions and their employees. In an effort to continue its commitment to education and help alleviate the growing costs of higher education, SCBA will maintain its scholarship program through the Palmetto Scholarship.

By offering these scholarships, SCBA demonstrates appreciation for its member banks and their employees, while helping to create a path toward a brighter, more prosperous future for South Carolina.

REQUIREMENTS: • Must be a resident of South Carolina; • Have a parent who lives in South Carolina and works for a SCBA member bank OR be a part-time employee at a member bank; • Be a full-time junior or senior undergraduate at an accredited four-year college or university during the fall semester of 2025; • Have a minimum grade-point average of 3.0 on a 4.0 scale; • Submit a resume and recommendation letter from a dean or professor when completing the online application. If you are a part-time bank employee, you must also have a letter of recommendation from senior management.

NOTE: One may not receive the scholarship more than twice.

THE APPLICATION DEADLINE IS MARCH 14, 2025.

Please visit scbankers.org/palmetto-scholarship to learn more.

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2009 Park Street • PO Box 1483 Columbia, SC 29202-1483

BUILDING FOR THE FUTURE 2025 SOUTH CAROLINA BANKERS SCHOOL July 13-18 • The Darla Moore School of Business at the University of South Carolina