Georgia Tech Data Breach Leaves 1.3M Exposed

PYMNTS

The Georgia Institute of Technology confirmed that it suffered a data breach that has exposed the personal information of 1.3 “A central Georgia Tech database was accessed by an unknown outside entity.

Georgia CU Statute Amended

Keith Leggett's Credit Union Watch

Georgia Governor Brian Kemp signed House Bill 185 into law on May 7, 2019. The bill revises statutory provisions governing banks, credit unions, trust companies, bank holding companies, money service businesses, mortgage lenders and brokers, and mortgage loan originators, as well as certain provisions addressing the Department of Banking and Finance’s general powers. The following provisions in the bill will affect credit unions.

Bitcoin ATMs Sprout in Georgia

Bank Innovation

Bitcoin ATM network Coinsource on Thursday installed 20 new bitcoin ATMs in the Peach State. Of the 20 machines, 18 are in Atlanta and the other two are in Athens. The ATMs come as demand for the cryptocurrency in the region is on a rise, the company said.

A deposit boon for small Georgia banks?

BankThink

Community banking Deposits Lending State and local finance Law and regulation Promontory Interfinancial Network GeorgiaCommunity banks in the state have struggled to attract the funds to meet surging loan demand, but that could change now that a new law has made it easier for them to accept government deposits.

Georgia's Own Completes Acquisition of Georgia Bank

Keith Leggett's Credit Union Watch

Georgia's Own Credit Union (Atlanta, GA) completed its acquisition of State Bank of Georgia (Fayetteville, GA) on August 1, 2018. Georgia's Own CU had $2.3 State Bank of Georgia had $90.7 billion in assets. million in assets. Bank Credit Union Mergers Bank-Credit Union Transaction

“Transaction Alley” In The Spotlight at 2019 Technology Association of Georgia’s (TAG) FinTech South

William Mills

Trio of Georgia banks plan ambitious merger

BankThink

Community banking Strategic buyers Growth strategies GeorgiaThe combination of CCF Holding, Heritage Bancorp. and Providence Bank will create a $1 billion-asset institution. Veteran bank investor Kenneth Lehman will be its chairman.

Bank of Georgia starts accepting JCB cards

The Paypers

(The Paypers) JCB International and Bank of Georgia have announced that Bank of Georgia has started to accept JCB cards across the country

Walmart Revamps Delivery Service With Georgia Pilot

PYMNTS

But the retailer is now testing a delivery service with employees at a store in Georgia, Reuters reported. A spokesperson for Walmart told Reuters that the retailer did conclude its first delivery experiment in 2018, but that the company is “encouraged by what we’re seeing” at its store in Georgia. After announcing an experimental plan last year for store employees to deliver online orders following their shifts for extra pay, Walmart has since retreated from the original pilot.

Atlantic Capital selling branches in Georgia, Tennessee

BankThink

Community banking Branch network M&A Georgia TennesseeThe company is selling 14 branches, including several around Chattanooga, Tenn., and its mortgage business to FB Financial so it can focus on its Atlanta operations and national lending businesses.

United Community entering Georgia market with First Madison deal

BankThink

Community banking M&A Growth strategies GeorgiaThe company will gain four branches in Athens, Ga., as part of the $52 million acquisition.

William Mills Agency Donates $10,000 to ALS Association of Georgia

William Mills

William Mills Agency (WMA), the largest independent public relations and marketing firm specializing in the financial industry, announced today a $10,000 donation to the ALS Association of Georgia. About The ALS Association Georgia Chapter.

Interview with Giorgi Kintsurashvili on the Bank of Georgia's digital innovation strategies

The Paypers

(The Paypers) As digital transformation has become the new norm for banks, Giorgi Kintsurashvili, Digital Banking Innovations Manager at Bank of Georgia talks about the bank’s innovative banking products and services

Georgia United Becomes Official CU of Georgia Tech Athletics

Keith Leggett's Credit Union Watch

Georgia United Credit Union (Duluth, GA) announced an expanded partnership with the Georgia Tech Athletic Association as the Official Credit Union of Georgia Tech athletics. The sponsorship includes a co-branded debit card initiative, financial education program for student-athletes, and community service initiatives. The renewed partnership will include in-venue signage and video features during home football, basketball and baseball games.

Georgia bank to be sold to credit union

BankThink

LGE Community Credit Union has a deal to acquire Georgia Heritage Bank. Community banking Credit unions M&A GeorgiaIt's the fourth time this year a credit union has agreed to buy a bank.

Georgia Regulator Approves CUs Takeover of Bank

Keith Leggett's Credit Union Watch

The Georgia Department of Banking and Finance on August 6 approved the merger of Georgia Heritage Bank (Dallas, GA) into LGE Community Credit Union (Marietta, GA). Georgia Heritage has two offices and $94 million in assets. LGE Community CU has $1.3 billion in assets. Bank Credit Union Mergers Bank-Credit Union Transaction

SouthCrest in Georgia sells largest foreclosed property

BankThink

Community banking Commercial lending Deposits Credit quality Sailthru NMN servicing no display GeorgiaThe company has also hit its goal of having half of total loans tied to customers around Atlanta.

Georgia's Own CU to Acquire State Bank of Georgia

Keith Leggett's Credit Union Watch

billion Georgia's Own Credit Union (Atlanta, GA) has entered into a definitive agreement to acquire State Bank of Georgia (Fayetteville, GA). State Bank of Georgia had $90.1 Credit Union Journal is reporting that $2.3 The deal was approved by both boards and will be structured as an asset purchase. million in assets, as of its most recent Call Report. The transaction is expected to close during the second quarter of 2018. Read the story (subscription required).

What made a Georgia bank pivot from IPO to sale?

BankThink

Brand Group in Georgia was mulling a public offering but it opted to test the waters as a seller first. Community banking M&A Capital IPOs Growth strategies Georgia MississippiThat decision led to one of the biggest deals announced this year.

Georgia Regulator Approves Bank Merger with CU

Keith Leggett's Credit Union Watch

The Georgia Department of Banking and Finance approved the application of dissolution for State Bank of Georgia (Fayetteville, GA) and its merger with Georgia's Own Credit Union. The approval date was May 22, 2018. Read the May 2018 Bulletin. In a related story, the Filene Research Institute recently released a report on Credit Unions' Acquisition of Banks and Thrifts.

Technology Association of Georgia Hosts Inaugural Event: FinTech South

William Mills

– Co ntent centered on ‘Disrupting and Delivering a Better Customer Experience’ by focusing on what’s happening next in fintech – Atlanta is a leader in transactions, a processing powerhouse, and home to global fintech companies and start-ups, which makes it the ideal city to host the Technology Association of Georgia ’s (TAG) first annual FinTech South conference. Blog Industry Events fintech fintech south TAG fintech ADVANCE awards Technology Association of Georgia

Georgia's Own aims to be first credit union in its state to buy a bank

BankThink

The credit union has agreed to buy State Bank of Georgia in Fayetteville. Community banking M&A Growth strategies Georgia

Georgia Banks Plan $33M Merger

American Banker

million in cash for the $184 million-asset Independence Bank of Georgia in Braselton. The $685 million-asset Pinnacle Financial in Elberton, Ga., said in a press release Friday that it will pay $32.8 breaking_news community-banking dealmaking-strategy

Behind a Georgia bank’s long and winding succession plan

BankThink

Community banking Succession planning Strategic planning Georgia North Carolina South Carolina TennesseeLynn Harton was finally named CEO of United Community Bank after a five-year apprenticeship, though Jimmy Tallent remains CEO of the parent company. The executives have long touted an ability to bounce ideas off each other as a reason for United's success.

Georgia's Community United FCU Conserved

Keith Leggett's Credit Union Watch

The National Credit Union Administration (NCUA) placed Community United Federal Credit Union, in Waycross, Georgia, into conservatorship. NCUA placed Community United Federal Credit Union into conservatorship to allow the credit union to correct operational weaknesses. According to its year end data, the credit union was well-capitalized and profitable. The credit union reported that only 0.97 percent of its loans were delinquent.

Entegra in N.C. expanding in Georgia with latest bank deal

BankThink

The North Carolina company's purchase of Chattahoochee Bank will add a branch and loan production office to its existing operations in northern Georgia. Community banking M&A Capital North Carolina Georgia

FNS Bancshares in Ala. wades into Georgia with small bank acquisition

BankThink

Community banking M&A Consolidations Alabama Georgia TennesseeFNS Bancshares has agreed to buy Catoosa Bancshares in Fort Oglethorpe, Ga., in all-cash deal.

LGE Community CU to Acquire Georgia Heritage Bank

Keith Leggett's Credit Union Watch

LGE Community Credit Union (Marietta, GA) has entered into a definitive agreement to purchase Georgia Heritage Bank (Dallas, GA). Georgia Heritage Bank has $94.7 The boards of directors of both LGE Community Credit Union and Georgia Heritage Bank have unanimously approved the transaction. LGE Community Credit Union is a $1.27 billion asset credit union with 11 branches. million in assets and has branches in Cobb and Paulding Counties.

Georgia United Announces Five-Year Sponsorship of UGA Athletics

Keith Leggett's Credit Union Watch

Georgia United Credit Union (Duluth, GA) announced an expanded five-year sponsorship as the Official Credit Union of Georgia Athletics. The renewed partnership includes in-venue signage and video features during home football, basketball, baseball and softball games, as well as gymnastics meets. Additional promotional opportunities include radio commercials, in-game features and gymnastics entitlement meets throughout each year. The price of the sponsorship deal was not disclosed.

CBA of Georgia Spring Meetings: Change Continues to Impact Community Banks

William Mills

The Community Bankers Association of Georgia (CBA) held its annual spring meetings in cities across the state which this year included Macon, Hoschton and Albany (pronounced ALL-benie if you’re not from around these parts). The meetings also support the mission of the CBA which is the preservation and development of local, independent community banks in Georgia as well as the philosophy of hometown banking.

CBA of Georgia Spring Meetings: Change Continues to Impact Community Banks

William Mills

The Community Bankers Association of Georgia (CBA) held its annual spring meetings in cities across the state which this year included Macon, Hoschton and Albany (pronounced ALL-benie if you’re not from around these parts). The meetings also support the mission of the CBA which is the preservation and development of local, independent community banks in Georgia as well as the philosophy of hometown banking.

Georgia's Own CU Puts Name Atop Atlanta Office Tower

Keith Leggett's Credit Union Watch

Georgia's Own Credit Union (Atlanta, GA) is relocating its headquarters to the 32-story office the tower in downtown Atlanta. As the building's anchor tenant, the $2.3 billion credit union will put its name atop the office tower. The office tower was formerly known as the Equitable Tower. Read the story. Branding HQ

Bitfury assists the Republic of Georgia register property on blockchain

The Paypers

(The Paypers) Bitfury and the Republic of Georgia's National Agency of Public Registry (NAPR) have teamed up to design and pilot a blockchain land-titling project

BB&T, SunTrust set dates for shareholder votes on megamerger

BankThink

M&A Regional banks Branding Georgia North CarolinaBB&T's shareholders will also be asked to approve changing the company's name to Truist Financial.

Another Georgia Bank to Be Acquired by Credit Union

Keith Leggett's Credit Union Watch

The combined entity would have $950 million in assets and more than 20 offices in Georgia and South Carolina. SRP Federal Credit Union (North Augusta, SC) has reached an agreement to acquire Southern Bank (Sardis, GA). SRP FCU has $851 million in assets, according to its most recent call report. Southern Bank is a privately held bank with $80 million in assets and five branches. The acquisition is expected to be complete in the second quarter of 2018.

Georgia Tech breach puts 1.3 million at risk

CU Insight

Atlanta-based Georgia Institute of Technology experienced its own version of March Madness when a data breach potentially affecting 1.3 The Atlanta Journal-Constitution reported Georgia Tech learned in late March that a central database had been accessed by an unknown outside entity.

Georgia's Own CU Places Name Atop 32-Story Atlanta Office Tower

Keith Leggett's Credit Union Watch

Georgia’s Own Credit Union is relocating its headquarters downtown and putting its name atop a 32-story Atlanta landmark on Peachtree Street — The Equitable Building. Georgia’s Own will lease about 100,000 square feet at the Equitable Building or about 20 percent of the building. A source familiar with the Atlanta commercial real estate market stated that if the tenant is above a certain size, signage is a concession in the lease. Read the story. Branding Naming Rights

Speedy integration of State Bank has Cadence set to expand in Georgia

BankThink

The Houston company has already converted the systems and brand from January's acquisition, allowing it to focus more on bringing in business. Community banking M&A Earnings Texas

Worldpay and Georgia Tech’s ATDC Financial Technology Partnership Yielding Strong Results

Let's Talk Payments

million in funding ATLANTA (April, 11, 2016): A year after launching an accelerator program focused on helping entrepreneurs in Georgia’s growing financial. 8 startups in program have already raised $16.8

Georgia CU Regulator to Add S to CAMEL Rating

Keith Leggett's Credit Union Watch

The Georgia Department of Banking and Finance (Department) announced that beginning January 1, 2018 the Sensitivity to Market Risk, or S component will become a separate and distinct regulatory examination component, rather than a factor in the Liquidity component.

United Community casts M&A net in BB&T-SunTrust strongholds

BankThink

Lynn Harton, the Georgia bank's CEO and a 20-year BB&T veteran, is considering acquisitions in Alabama, Florida and Tennessee markets where the entity soon to be named Truist Financial has a high profile. Community banking M&A Commercial lending Georgia Tennessee Florida

Alabama Credit Union to Buy Georgia Bank

Keith Leggett's Credit Union Watch

The American Banker is reporting that Five Star Credit Union of Dothan, Alabama has agreed to purchase Flint River National Bank in Camilla, Georgia. Five Star CU will buy all the loans and deposits at the $23 million bank. The credit union is valuing the bank assets at $21 million. This would be the fifth transaction involving a credit union buying a bank. Read the story. Bank-Credit Union Transaction

Georgia credit union loan growth outpaces banks

CU Insight

As more Georgia consumers take advantage of the service-driven culture of credit unions, cooperative financial institutions are experiencing significant and consistent loan growth. Being member-owned, credit unions don’t have shareholders to pay,” said Mike Mercer, president/CEO of Georgia Credit Union Affiliates. The post Georgia credit union loan growth outpaces banks appeared first on CUInsight. Industry News CUNA CUNA News Georgia