Palmetto Banker 2019-4 by SCBA

PALMETTO SOUTH CAROLINA BANKERS ASSOCIATION

Fall Issue 2019-4

Banker

Young Bankers Division Inaugural

BANKPAC SPORTING CLAYS TOURNAMENT Was A Great Success!

LEADERSHIP SYMPOSIUM Tuesday, January 28–Wednesday, January 29, 2020 Hilton Columbia Center | 924 Senate Street | Columbia, South Carolina

One of the many talented speakers is Trisha P. “Trish” Springfield, Founder and President, Energize 2 Grow, who will present “Activating Leading Women.” Trish is a former South Carolina banker and is now a Speaker and Consultant in the Financial Services industry. Those who know Trish know this will be quite an invigorating session and one not to be missed. The program will bring you information to broaden your awareness and knowledge of key industry issues, inspire and empower you from stories of success and experience, and provide plenty of time to network with your peers from across South Carolina. ROOM RATE $170.00 ++ per evening (Rooms reserved for the evening of January 28) Room block release date: December 24, 2019 Hilton Columbia Center: (803) 744-7800 Request South Carolina Bankers Association Women in Banking Leadership Symposium

REGISTRATION FEES $385.00 Member, $850.00 non-member

www.scbankers.org/events/2020-women-in-banking-leadership-symposium/ Lt. Governor Pamela Evette (front row, beige suit), State of South Carolina, and women banking leaders at 2019 Women in Banking Leadership Symposium.

REGI

NOWER !

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

www.scbankers.org 2019-20 SC BA EXEC UTIV E CO M M ITTE E Chairman....................................................................................... Samuel L. Erwin, IBERIABANK Chairman-Elect..................................................................... James A. Bennett, First Citizens Bank First Vice-Chairman............................................................ K. Wayne Wicker, South Atlantic Bank Treasurer........................................................... Fleetwood S. Hassell, The Bank of South Carolina Immediate Past Chairman............................................................David L. Morrow, CresCom Bank 2019-20 SC BA BOARD O F D IR E CTO R S 2nd Immediate Past Chairman............................................ R. Thornwell Dunlap III, Countybank SCBA President & CEO.............................. Fred L. Green III, South Carolina Bankers Association Directors.......................................................................J. Neal Anderson, Anderson Brothers Bank Thomas Bouchette, The Citizens Bank Thomas R. Britt, Jr., Bank of Travelers Rest Laurence S. Bolchoz, Jr., Coastal Carolina National Bank Curtis T. Evatt, Oconee Federal Savings & Loan Boyd B. Jones, Synovus Jennifer T. Jones, CBL State Savings Bank John D. Kimberly, Carolina Alliance Bank Rose Buyck Newton, Bank of Clarendon J. Ted Nissen, First Community Bank J. Carlisle Oxner III, Arthur State Bank Annette L. Scott, Countybank Elizabeth S. Steifle, Bank of Travelers Rest David R. Torris, SunTrust Bank Arnold A. Zipperer III, 1st Federal Savings Bank 2019-20 SC BA C OMM UN ITY B A N KE R S D IV IS IO N B OA R D Chairman.............................................................................. J. Ted Nissen, First Community Bank Immediate Past Chairman...................................................... Fred Gilmer III, Southern First Bank Directors.............................................................. Marion E. Freeman, The Conway National Bank L. E. Griffin, Home Federal Savings & Loan James A. Kimbell III, Coastal Carolina National Bank Richard N. McIntyre, First Reliance Bank Dominik Mjartan, Optus Bank Jamie O. Morphis III, Carolina Bank & Trust Co. C. Kyle Thomas, Blue Ridge Bank 2019-20 SOUTH C ARO LIN A B A N KE R S S CH O O L B O A R D Chair.................................................................................................Annette L. Scott, Countybank Chair-Elect........................................................................Marvin E. Robinson, Jr., CresCom Bank Past Chairman........................................................... Ford P. Menefee, The Bank of South Carolina Directors............................................................................. Richard N. Burch, South Atlantic Bank Robert P. Hucks II, Coastal Carolina National Bank Calvin C. Hurst, Southern First Bank John M. Leighton, South State Bank Joseph A. Painter, First Community Bank Michelle B. Seaver, United Community Bank J. Reeves Skeen, First Citizens Bank Mze Wilkins, Ameris Bank Robert L. White, Bank of Travelers Rest Course Coordinators...........................................................................................James R. Clarkson John C. Griggs III, Synovus W. David Keller, The Citizens Bank Francis A. Townsend III, South State Bank 2019-20 Y OUNG BAN KE R S D IV IS IO N B O A R D O F D I R EC T OR S Chair..............................................................................Elizabeth S. Steifle, Bank of Travelers Rest Chair-Elect...............................................................................Allison B. Cranford, TD Bank, N.A. First Vice Chairman............................................................................David P. Looper, Wells Fargo Past Chairman....................................................... Charles K. Talbert, The Bank of South Carolina Directors........................................................................... Thomas H. Anderson, South State Bank Bradley R. Cantrell, Countybank Michelle A. Coletta, South Atlantic Bank Vaughan R. Dozier, Jr., First Community Bank Rufus T. Dunlap V, Countybank Casey L. Earl, United Community Bank Margi M. Fleming, The Citizens Bank Austin J. Goforth, Southern First Bank Lauren D. Greene, First Citizens Bank Othniel W. Laffitte, GrandSouth Bank Everette J. Livingston, First Citizens Bank Jared A. Polk, Enterprise Bank of SC Charles H. Redmond, South State Bank B. Oneal Staples, Ameris Bank H. Gibson Tucker, First Palmetto Bank

Contents 5 6 11 12 14 16 18 21 26 28 30 32 34

Presidentâ&#x20AC;&#x2122;s Message Cover Story ABA Update Legislative Profile Legislative Update Banking at a Glance Community Bankers Update Young Bankers Division Welcome New Members Personal Transactions Banking News Education & Professional Development SCBA Webinars

Cover: F. Justin Strickland, President, Southern First Bank, Columbia and Past Chairman of South Carolina Bankers Association at the 2019 BankPAC Sporting Clays Tournament SC B A St a f f President & CEO............................. Fred L. Green III Executive Vice President & CFO...... Donna S. Taylor Senior Vice President....................... Carolyn L. Bradley Senior Vice President....................... E. Anne Gillespie Senior Vice President & Counsel..... A. Oâ&#x20AC;&#x2122;Neil Rashley, Jr., Esq. Director, Advertising & IT............... M. Caroline Snijders 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.

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President’s Message

Reflections

On 2019:

SUCCESS AND BLESSINGS As the year comes to a close it is always a time of reflection on the past year and planning for the upcoming one. Our bank members are reviewing their financials and hustling to close committed loans before the traditional Christmas through New Year’s slowdown. Budgets are already prepared creating a road-map for 2020. Our Associate Members are reviewing their goals and objectives for the year and making plans to visit their bank clients in the new year. At the SCBA, we are coming off our most successful year ever. By all measures–political advocacy, member engagement, and fiscal responsibility–we accomplished all of our goals and are working to add even greater value to our members’ investment in our association. One of our biggest events is our Legislative Reception scheduled for January 14, 2020. Following a decades long tradition it is held on the evening of the first day of the legislative session. All members of the General Assembly and all constitutional members are invited–and most attend. It is an opportunity for our members to thank these public servants for their support. It is also an opportunity to spend an enjoyable evening with fellow bankers from throughout the state. On a macro-level, the economy is strong nationally, regionally, and in South Carolina. Unemployment is at, or near, historic lows

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

and wage increases adds fuel to economic growth as we enter the new year. 2020 will be an important year politically as well. We enjoy strong support for our industry at the State House and are fortunate our state has such a pro-business legislature. On a national level, most new legislation seems to be side-tracked over highly partisan politics. The news media’s constant reporting on activities in Washington can sometimes distract us from what is most important this time of year. The holiday season is a time to be thankful for our many blessings. Everyone should take time to reflect on all that we are thankful for personally. Among many of our blessings this year, the Green family celebrated the first birthdays of two new granddaughters and we welcomed our second grandson’s birth in October. We look forward to an even bigger, better Christmas celebration this year with our growing family. I want to close by thanking all of our members, our supportive legislators, and our dedicated and professional SCBA staff for a wonderful year.

I wish everyone a Merry Christmas and a Happy New Year.

Merry Christmas from

Cover Story

THE YOUNG BANKERS DIVISION PROVIDED ANOTHER

Great Networking Opportunity for Another

GREAT CAUSE! Since SCBA’s main initiative is government relations it makes the most sense for the Young Bankers to get involved in the Association’s grassroots efforts. Last year the Young Bankers Division Board of Directors took action. Every board member was challenged to meet with some of SC’s elected officials across the state to start building relationships. They also visited the State House to meet with the state’s lawmakers and to advocate for the banking industry. And, on November 20 the Division hosted the first ever Sporting Clays Tournament to raise money for the State BankPAC. The event was held at the Palmetto Shooting Complex in Edgefield, South Carolina. It was a tremendous success with 22 teams and 87 shooters, perfect weather, friendly competition and a lot of camaraderie. The proceeds for this fundraiser allow the State BankPAC the opportunity to provide contributions to legislators who support the banking industry and the pro-business

This event would not have been possible if not for our generous sponsors.

agenda in our state. PAC contributions also enable SCBA staff and bankers to have direct contact with legislators. Past Chairman of the SCBA, R. Thornwell Dunlap III, President/ CEO of Countybank participated and had this to say, “The Sporting Clays Tournament to support the State BankPAC, which is so important to the SCBA’s legislative efforts, was a huge success. Beautiful weather and a great venue were only topped by the fellowship shared among our South Carolina bankers and industry partners. Everyone I spoke with was talking about how much fun they had. I hope we will continue to do this event again next year.” The tournament raised $20,000 for the State BankPAC.

GRAND SPONSOR Travelers Insurance CONTEST SPONSOR Turner Padget RECEPTION SPONSOR DDI Technology REFRESHMENT CART SPONSOR Source4 PRIZE SPONSOR Elliott Davis, LLC

STAND SPONSORS Ameris Bank Anderson Brothers Bank CBL State Savings Bank Employer HR Group Enterprise Bank of SC Federal Home Loan Bank of Atlanta First Palmetto Bank Fitech Haynsworth Sinkler Boyd, P.A. IBERIABANK South Atlantic Bank Steve H. Powell & Company SunTrust Bank Womble Bond Dickinson

Once the date for next year’s tournament is set, it will be posted on the SCBA website www.scbankers.org. If you are interested in securing a sponsorship for the 2020 event, contact the SCBA office at 803-779-0850.

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Congratulations to the following winners: Highest Team Score with a shooting average of 81: Highest Male: Highest Female: Flurry Contest:

Ben Barnhill, Nelson Mullins Riley & Scarborough, LLP Michael Boozer, Integrated Financial Solutions Duffie Powers, Gallivan, White & Boyd, P.A. Ben Skelley, AgSouth Farm Credit, ACA Jake Nidiffer, Trinity Partners, shooting a 93 Dallas McGuire, Scott & Company, LLP, shooting a 47 Ben Skelley, AgSouth Farm Credit, ACA Ben Barnhill, Nelson Mullins Riley & Scarborough, LLP

Cover Story

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ABA U p d at e

Success BUILDING

IN WASHINGTON Between the end of September and the end of October—at the same time the House was beginning its impeachment inquiry—a remarkable thing happened. Representatives turned their attention to two different, pressing banking issues— cannabis banking and modernization of our anti-money laundering compliance framework—and advanced bipartisan legislation to address them. Around the same time, federal regulators took action on several other priorities, from implementing sections of S. 2155, which made tailoring of regulation the law of the land and finalizing the new community bank leverage ratio, to raising the appraisal threshold for residential real estate transactions and proposing changes to the FDIC’s national rate cap regulations. For all the acrimony and dysfunction that seems to be defining our capital these days, Washington sure is producing some smart, commonsense banking policy. How have we managed to see so much progress on banking issues in such a divisive atmosphere? And what does this mean for banking as the 2020 elections approach? I believe our industry’s success in Washington starts with your hard work at home. While ABA and your state association are working to help you succeed in the future, you are the ones demonstrating the critical role banks play in the economy by making sure your customers and communities have what they need to thrive. And a national survey that ABA commissioned and released in October found that you are performing this role very well:

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

9 in 10

cannabis industry unbanked. Those include the tax consequences, the public safety risks, and the impact on noncannabis bank customers.

96 %

Other bankers are shaping outcomes by participating in their state’s Washington Visit, analyzing regulatory proposals, conducting critical reviews of our comment letters and responding to grassroots alerts.

93 %

All of this puts us in an excellent position as we head into an election year that, yet again, could shift the balance of power.

Americans are very satisfied or satisfied with their primary bank

rate their bank’s customer service as excellent very good or good

rate their access to banking services as excellent or good Results like these, including a recent Gallup poll that found the highest public opinion of banking in more than a decade, matter because they give policymakers more reason to support you. We’re also succeeding in Washington by making it clear that banking policy is bipartisan. No matter who holds the gavel in Congress or controls the White House, they need to understand banks and bankers today. So we’ve been working closely with leaders and lawmakers on both sides of the aisle and in both chambers to educate them on issues that are affecting your ability to serve your customers and communities. Finally, we’re succeeding in Washington because bankers continue to engage in the process. Bankers and state association executives in states that first legalized marijuana, for example, took the lead in educating their peers and lawmakers on the implications of leaving the

To further bolster the industry’s position in advance of the 2020 elections, ABA is actively scaling our BankPac and our Voter Education initiatives with the intent of supporting Democratic and Republican candidates who understand and appreciate the important role banks of all sizes play in this country. At the same time, we’re building out our new grassroots platform, Secure American Opportunity. That’s where you’ll find information on actionable policy issues and learn what you can do to shape the outcome, whether it’s writing to your lawmakers or commenting on a regulatory proposal.

And while we don’t and won’t participate directly in the presidential race, we stand ready to correct the record if candidates misrepresent our industry or pursue policies that will harm your ability to serve your customers and communities. FA L L 2 0 1 9 • PALMETTO BANKER

L e g i s l at i v e Profile

Ways and Means Chair Smith Enjoys His Role in South Carolina’s Successful Economy One year ago on December 5, 2018, things changed considerably for Rep. Murrell Smith (R-Sumter). On that day, he was elected as the Chairman of the South Carolina House Ways and Means Committee and became Chairman Murrell Smith. With that came the critical responsibility of sheparding an $8 billion budget through the Ways and Means committee – the first committee that sees the Appropriations bill – and then help move it through the House, intact and balanced after hundreds of proposed amendments. This year he will face additional challenges as the South Carolina General Assembly will have an additional $1.8 billion to spend next year, on top of the already $8 billion budget, due to a growing economy and large surpluses. Although there are many challenges for the chair of the Ways and Means committee when it comes to deciding how much of this should be spent, Smith sees this as good news. “We are moving in the right direction, people are wanting to locate here, businesses are wanting to locate here, and people are enjoying success here financially.” He believes the extra money could help increase teacher pay and address crumbling infrastructure. Smith’s committee will also address significant legislation beyond the budget; the committee will consider comprehensive 12

FA L L 2 0 1 9 • PALMETTO BANKER

tax reform. The surplus has led many key leaders in the House and Senate, as well as Governor McMaster, to call for a return of some of this surplus to the taxpayers by lowering their tax burden. Two tax reform bills are already in his committee and more are bound to be introduced. Born in Florence, South Carolina, Smith grew up in Sumter, where he graduated from Wilson Hall in 1986. He attended Wofford College earning a Bachelor of Arts in History and Government in 1990. After obtaining his J.D. from the University of South Carolina School of Law in 1993, Smith began practicing law in his hometown of Sumter. He started with a general law practice yet simultaneously served as a part time public defender from 1994-1998. As a public defender, Smith tried numerous DUI and drug cases and major felonies to include murder trials and death penalty cases. Now he is the lead partner in his own law firm in Sumter – Smith Robinson Holler DuBose and Morgan. Smith’s focus is insurance defense, automobile claims, and medical malpractice defense. He has tried numerous cases to verdict and has honed his trial skills to concentrate on more complex litigation to include nursing homes, business litigation, workers compensation, medical malpractice and legal malpractice.

His political career began when he was elected to the South Carolina House of Representatives in 2000 to represent House District 67 in Sumter. He became a member of the House Judiciary Committee rising to first vice chairman. In 2009, he moved to the House Ways and Means Committee and was Chairman of the Health and Human Services Subcommittee beginning in 2012. Now, he not only is the Chairman of the Ways and Means committee but he also serves as the Chairman of the House Ethics Committee and on the South Carolina Judicial Merit Selection Commission – the commission that screens judicial candidates. Despite the Ways and Means committee’s upcoming workload and challenges in 2020, Smith is positive, not only for the work his committee will do, but for South Carolina. “The state’s revenue forecast for next year is strong because our economy is strong. Our economy is strong because the General Assembly has prioritized sound fiscal policy, prudent budgeting, and created a low-tax, business-friendly environment. This has allowed our citizens to thrive and prompted more people and businesses to locate here. Our job, and my focus, will be to maintain these successful policies and to push to achieve even greater growth and opportunity for South Carolinians.”

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

PREVIEW OF THE GENERAL ASSEMBLY’S UPCOMING

2020 Session By Neil Rashley, Senior Vice President and Counsel, SCBA

The South Carolina General Assembly returns for the second year of the 2019-2020 session on January 14, 2020. In 2020 the Assembly will not only address significant statewide issues such as education reform and possibly selling Santee Cooper, but there will also be a $1.8 billion surplus in revenues from the previous year. That means lengthy debates on how to spend the surplus – whether by funding new programs, funding teacher raises, addressing deficits like the state pension fund, or possibly enacting comprehensive tax reform. To top it all off, the entire General Assembly is up for re-election – a matter that always influences what issues are handled and how. During the first year of the session in 2019, there were a number of bills supported by SCBA that were enacted and bills that are still pending that did move forward favorably and will be taken up in 2020. The legislature will begin prefiling bills for 2020 in December 2019 and into 2020; so there are still bills that may come up that SCBA will need to address. Nonetheless, below are the biggest subjects and bills affecting banking we know we will see in 2020. The text for all bills can be found at www.scstatehouse.gov.

FA L L 2 0 1 9 • PALMETTO BANKER

> TAX REFORM Based on work of the House Special Tax Study committee, the House introduced two tax reform bills in 2019 it will consider in 2020, one concerning individual income tax (H4334) and one on sales tax (H4532). Both bills, as introduced, will have a significant impact on banks and their customers as both bills take the approach of establishing a lower, flat rate by eliminating almost all credits, deductions and exemptions – including credits, and exemptions banks now receive. Additionally, due to the $1.8 billion in surplus revenue from 2019, both House and Senate leadership as well as Governor McMaster have stated that comprehensive tax reform is necessary so expect both chambers to take up these bills in 2020. SCBA will be closely following the tax reform issue throughout this session. The individual income tax reform plan in H4334 sets an initial rate of 4.85% that will gradually lower to 4.5% in five years; presently the rate is 7%. Typically, an individual income tax bill would not affect banks but H4334 eliminates the tax credit for shareholders of S Corporation banks. Unlike other S Corps, the S Corp bank entity still pays a tax on its income via the bank franchise tax. However, the S Corp shareholders also pay income tax on the same revenue since an S Corp bank is a pass-through entity. Present

South Carolina law allows these shareholders a credit against their pro rata share of the tax so that there is not double taxation on the bank’s income. H4334 eliminates this credit and allows the state to tax the same revenue twice – once from the bank via the franchise tax and then again from the shareholders via the income tax. Likewise, the sales tax bill, H4532, eliminates many exemptions; but it also greatly expands the sales tax to numerous services in order to achieve a new state sales tax rate of approximately 3%. Exemptions would be phased out over three years and taxation of services would be phased in over three years. For banks and their customers, the changes could be significant as H4532 eliminates the sales tax exemption for fees charged for ATM transactions, and, most importantly, now imposes a sales tax on most financial services provided by banks. These new sales taxes could result in substantial costs passed on to consumers so bankers should stay aware of these proposals.

> FIN TECH SANDBOX/ BLOCKCHAIN TECHNOLOGY Two bills, S738 and H4351, were introduced late in 2019 and seek to establish South Carolina as an incubator for financial technology industries using

blockchain technology. The bills are modeled after recent enactments in Utah, Wyoming and Arizona. Primarily they create a Financial Technology Sandbox for the testing of financial products and services in South Carolina and permit a “light” regulatory framework for these industries. Both bills will probably be taken up in 2020.

> ELECTRONIC AND REMOTE ONLINE NOTARIES In 2019 both the Senate and House introduced bills, S486 and H3917, that would authorize electronic and remote online notaries in South Carolina and they are now combined into one bill, S486. S 486 is based on model acts proposed by the Mortgage Bankers Association and the American Land Title Association and enacted in other states such as Texas, Tennessee, Virginia and Montana. Just as with present law, the Secretary of State’s office would handle these registrations and would be tasked with adopting security standards for these notaries. S486 is now in the House Ways and Means committee for further study on its financial impact. SCBA is working toward resolving any financial concerns and passage of S486 in 2020.

> WORKFORCE HOUSING TAX CREDITS H3998 creates a state income tax credit for workforce housing investments, similar to the existing federal tax credit program administered by the State Housing Finance and Development Authority. The House passed the bill, adopting an amendment that allows community input into the project scoring system administered by the Housing Authority. H3998 is now in the Senate Finance committee and SCBA will be working for its passage in 2020.

> FINANCIAL LITERACY In 2019, there were two bills, S15 and H4149, that proposed to change the present curriculum to require personal finance courses for graduation, as opposed to just economics, and to test students on this material. SCBA tested in favor of these bills and part

of that testimony was backed up by a 2014 Federal Reserve study that found that in states that required personal finance education and testing, that students saw increased credit scores above those students in states where there was no testing. The bills are still in committee yet, in the interim, the Department of Education adopted new curriculum standards with a greater emphasis on personal finance. Those standards were recently adopted and will be part of the Department’s 2020 Social Studies curriculum standards. In a related matter, the House is still considering H3197, the Student Loan Bill of Rights. This bill establishes a licensing and regulatory scheme for servicers of student loans. Banks are exempt from the provisions of H3197.

> MEDICAL MARIJUANA S366 legalizes the medical use of cannabis but has a long way to go for passage. The bill remains in the South Carolina Senate Medical Affairs committee and a vote to get it out of committee failed by one vote last year. Still, S366 has many supporters, so an extended debate is expected in 2020. South Carolina is one of sixteen states that has not fully legalized the medical use of marijuana. While the bill was in subcommittee, SCBA worked to obtain an amendment that provides banks a safe harbor from prosecution that, if S366 passes and marijuana remains illegal under federal law, a bank that does business with an entity or person involved with medical cannabis cannot be prosecuted by state or local authorities. 2020 promises to be a busy year for the General Assembly as education reform, surplus money and re-election issues will dominate. Yet, there will be many issues banks will need to address and SCBA will keep its membership updated on their progress. SCBA also greatly appreciates its bankers’ involvement in public advocacy and input on bills and issues. For further information on getting involved with SCBA advocacy or for more information on these issues, please contact Neil Rashley at nrashley@scbankers.org.

Banking D ata

South Carolina Banking at a Glance South Carolina Banking Institutions

6/30/18

6/30/19

Total number of Banks in S.C. Institutions headquartered in S.C. Institutions headquartered out of S.C. S.C. Total Deposits Total Deposits for out-of-state banks Total Deposits for S.C.-headquartered banks Total number of bank offices in S. C.

79 52 27 $85.89 B $61.80 B $24.09 B 1226

76 47 29 $89.4 B $64.9 B $24.5 B 1193

3 $10.11 B

3 $10.7 B

8 $5.66 B 41 $ 8.32 B 202.9 M $11.8 M

9 $6.6 B 35 $ 7.2 B 207.1 M $27.8 M

South Carolina Chartered Banks Banks with over $1 billion in deposits Total S.C. deposits for these banks Banks with deposits greater than $500 million and less than $1 billion Total S.C. Deposits for these banks Banks with deposits less than $500 million Total S.C. Deposits for these banks Average size of these banks Smallest bank headquartered in S.C.

Largest Banks, by Deposits, in South Carolina Bank

State

SC Offices

SC Deposits

SC Market Share

Wells Fargo Bank, National Association Bank of America, National Association Branch Banking and Trust Company First-Citizens Bank & Trust Company South State Bank TD Bank, National Association SunTrust Bank Synovus Bank United Community Bank Southern First Bank CresCom Bank Pinnacle Bank

SD NC NC NC SC DE GA GA GA SC SC TN

125 76 92 140 95 60 37 37 36 9 24 21

16,975,694 13,377,912 8,558,231 8,005,526 7,333,314 4,811,793 3,125,130 2,939,808 1,750,837 1,697,593 1,620,342 1,231,492

18.99% 14.97% 9.57% 8.96% 8.20% 5.38% 3.50% 3.29% 1.96% 1.90% 1.81% 1.38%

* In thousands

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Source: FDIC Summary of Deposits, June 30, 2019

Join us...

HELP WASHINGTON GET IT RIGHT We’ve fought hard for banking policy changes that allow banks to better serve their customers and communities, but the work isn’t done. Now more than ever, regulators and Congress need to hear from bankers across America to keep policy moving in the right direction. Make sure policymakers get the details right.

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Registration is COMPLIMENTARY for the Government Relations Summit, Mutual Community Bank Forum, Emerging Leaders Forum and the Women’s Leadership Forum. Open to Bankers, Bank Directors and State Association Executives.

For more Information, please contact Anne Gillespie at 803.779.0850, or agillespie@scbankers.org.

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C o mmu n i t y B a n k e r s U p d at e

forum

2019

COMMUNITY BANKERS

On October 24th the Community Bankers Division hosted the annual Community Bankers Forum in Columbia. We had a great, interactive group of attendees. Speaker topics included Margin Pressures in a Declining Rate Environment, an economic update, a mortgage banker panel and last but not least, an outstanding regulatory panel.

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2020 SOUTH CAROLINA BANKERS SCHOOL July 12-17, 2020 | Lander University | Greenwood, SC • One of the premier state banking programs in the country • Integrated and complete set of usable courses covering all aspects of banking, as well as overall bank management • Academic and social interactions with fellow bankers conducive to joint bank problem solving later in the workplace • Acquire a better knowledge of the total scope and role of the financial services industry in today’s economy • Provides benefits for the duration of one’s banking career

For more information, please call Carolyn L. Bradley at 803.779.0850 or email carolynbradley@scbankers.org.

2019

Young Bankers Division

Scholarship Golf Tournament The 2019 Young Bankers Division Scholarship Golf Tournament brought in around $30,000 for the Palmetto Scholarship Fund. The scholarship awards deserving students of member-bank employees each year. The scholarship application will open in January 2020, please be sure to spread the word to all employees! 132 golfers participated in the tournament this year, which was full of fun, food and excitement. Travelers Insurance again sponsored the new favorite Charity Golf Gun hole. This year’s contest theme was Par 3 Pong. Players had the opportunity to shoot their golf ball out of an airsoft cannon from the tee box, hoping to land it into a barrel for their score. If they missed the barrel, they would continue their putt as normal.

The tournament wouldn’t be possible without the tremendous support of its sponsors and volunteers each year. The 2020 Tournament will be held Monday, October 5th, so mark your calendars!

THANK YOU TO OUR SPONSORS: Eagle Sponsor Magnolia Financial, Inc. Charity Golf Gun Sponsor Travelers Insurance Birdie Sponsors Fitech Payments KeenanSuggs|HUB International Pinnacle Financial Partners Turner Padget Graham & Laney, PA United Community Bank Beverage Cart Sponsors Elliott Davis, LLC Security Technology Services, Inc. Hole-In-One Sponsor CSRA Business Lending Prize Hole Sponsor Community First Bank Hole Sponsors A/R Funding Bank of America Bank of Clarendon Bank of Travelers Rest Business Development Corporation/ Certified Development Corporation Carolina Alliance Bank Coastal Carolina National Bank Countybank Federal Home Loan Bank of Atlanta First Citizens Bank First Community Bank Haynsworth Sinkler Boyd, P.A. Oconee Federal Sandhills Bank South Atlantic Bank Synovus The Bank of South Carolina The Citizens Bank Wells Fargo Pizza Sponsors J.H. Developments / Marco’s Pizza

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Young Bankers Division

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Young Bankers Division

Calling all emerging leaders! 2020 YOUNG BANKERS DIVISION ANNUAL CONFERENCE

MARCH 6-8, 2020 | The Ritz-Carlton Reynolds, Lake Oconee | Greensboro, GA

The Young Bankers Division Annual Conference will be held March 6-8, 2020, at The Ritz-Carlton Reynolds, Lake Oconee, Greensboro, GA. Established over 60 years ago, the Young Bankers Division has continued to grow and prosper. The goal was to prepare and groom the next generation of leaders in the banking industry in South Carolina. Today, the objectives still remain the same: to develop professional growth, to connect and build relationships with other bankers in the state and to engage in industry specific initiatives. The Division is involved in a multitude of activities and events that help promote a positive image of the banking industry and community awareness. This is the premier-networking event for emerging leaders in the banking industry and the purpose of the conference is multi-fold: to promote leadership development, enhance career knowledge and development and create business development and networking opportunities. Places like Lake Oconee are rare. Its beauty and authenticity are self-evident, yet unknown to the masses. While it may seem rustic and remote to some, those are the very qualities 24

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cherished by those who experience it. Set along the waterfront just outside of Atlanta, Georgia, the resort offers natural beauty and a quiet escape from everyday life. This year’s Chair of the Division is Elizabeth S. “Betsy” Steifle, Senior Vice President, Bank of Travelers Rest. Featured speakers include Special Agent Jantzen N. “J.” Blackmon, Homeland Security Investigations; David “Dave” DeFazio, partner at StrategyCorps; James J. “Jim” Edwards, Jr., CEO of United Bank and Chairman-Elect of the ABA and Dale S. Sheller, Senior Vice President in the Financial Strategies Group, The Baker Group. The keynote speaker for the 2020 Conference is First Lieutenant Patrick Cleburne “Clebe” McClary III, USMA, Retired. Exposing emerging leaders to speakers of this distinction is a real privilege. Chair Steifle said, “I, along with the Young Bankers Board of Directors, am excited about the dynamic line-up of speakers for the 2020 Conference. The topics are relevant to the current marketplace ranging from Dark Web operations to the current Opioid epidemic facing our nation. We are focused on providing speakers who not

only expand our financial knowledge but increase our leadership and social understanding to help us better serve the places we call home.” Building a strong network and cultivating relationships is equally as important as the educational components of this Conference. On Saturday morning, Martine Helou, Executive Director of Palmetto Foundation for Prevention and Recovery will lead a prayer breakfast. Other special activities will be offered after the business session on Saturday afternoon and the program will conclude with dinner and a “Great Gatsby Casino Night” on Saturday evening. It will be a fun time and one not to miss! Chair Steifle added, “The Young Bankers Annual Conference gives emerging leaders an opportunity to build lasting relationships with other bankers and associate members across the state. It also provides a relaxed atmosphere to network and over time, create life-long friendships. As those friendships grow, it helps solidify the next generation of bank leaders within our state.” Tangible evidence of the importance of the Division can be seen as many bankers

who were active in the Young Bankers Division years ago have advanced to become C-suite executives and key decision makers within South Carolina’s financial institutions. Every banker in South Carolina competes fiercely by day but enjoys coming together and interacting socially with each other to share ideas, challenges and opportunities. Being involved in the Young Bankers Division creates experiences for emerging leaders in which they might not have been exposed to otherwise. The friendships and comradery developed at the Annual Conference and other various events will provide personal and professional dividends for many years to come. Registration is open so don’t miss out!

James J. “Jim” Edwards, Jr.

A special thanks to our many sponsors! We appreciate your tremendous support.

Jantzen N. “J.” Blackmon

David “Dave” DeFazio

Martine Helou

Patrick Cleburne “Clebe” McClary III

Dale S. Sheller

Elizabeth S. “Betsy” Steifle Chair, Young Bankers Division

QUESTIONS? Please contact Carolyn L. Bradley, carolynbradley@scbankers.org.

The deadline to register is January 29, 2020. FA L L 2 0 1 9 • PALMETTO BANKER

New

M e mb e r s

Welcome

We are fortunate to have an active and engaged roster of Associate members and proudly welcome this new member: Tandem Innovative Payment Solutions 728 N. Pleasantburg Dr. Greenville, SC 29607 877.512.1211 www.tandempayment.com Larry R. Feniger 864.672.1570 larry.feniger@tandempayment.com

Tandem Innovative Payment Solutions is not like your traditional merchant processing vendor. Beyond payments, Tandem offers proprietary technology to help entrepreneurs enhance their business through analytics, marketing and management solutions. Backed by a local support team headquartered in South Carolina, we help financial institutions retain existing clients, grow core deposits and provide opportunities for prospects with unique offerings.

With all of the evolving financial industry changes, we are thankful for business alliances that meet our membersâ&#x20AC;&#x2122; needs. The SCBA is dedicated to supporting and promoting cutting-edge industry providers to our member banks. For more information about Associate Membership, please contact SCBA Senior Vice President Carolyn Laffitte Bradley by email at carolynbradley@scbankers.org To view our Associate Membership Directory, click here.

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Personal

Transactions

Nikki Lowery

Steve Humphreys

Ray Merritt

Brian Michel

Jessica Bagwell

Kurt Seguer

Nick Reinhardt

Christy Chumney

ANDERSON BROTHERS BANK

FIRST RELIANCE BANK

Nikki Lowery and Ray Merritt have joined Anderson Brothers Bank as Loan Officer. They will be based in the bank’s North Myrtle Beach office.

G. Neal Kyber has joined First Reliance Bank as market executive for the Greenville, SC market.

CAROLINA ALLIANCE BANK Jessica Bagwell has joined Carolina Alliance Bank in its Mortgage Division as Assistant Vice President, Mortgage Lender. Nick Reinhardt has joined Carolina Alliance’s Business Banking division as Assistant Vice President, Commercial Relationship Manager.

COUNTYBANK Jack Lucas has joined Countybank as SVP, Senior Commercial Banker for the Greenville/ Greer area.

FIRST COMMUNITY BANK

GRANDSOUTH BANK J. Randolph Potter has been elected to the Board of Directors of GrandSouth Bank. Chris Robinson and Jill Waters have joined GrandSouth Bank as Senior Vice Presidents of Commercial Banking.

HOMETRUST BANK David Charpia has joined HomeTrust Bank as a Senior Vice President and Market President in South Carolina. Rob Evans has joined HomeTrust Bank as an Assistant Vice President and Mortgage Loan Officer.

Rob Evans

Bob Graham

Beth Hallock

Debbie Hite has been promoted to Personal Banker at the International Drive branch in Myrtle Beach. Ethan Sartain has been promoted to Marketing Coordinator.

SERVISFIRST BANK ServisFirst Bank, announces the addition of Steve Humphreys, Senior Vice President, Commercial Banking, Brian Michel, Senior Vice President, Commercial Banking, Kurt Seguer, Senior Vice President, Commercial Banking, and Christy Chumney, Assistant Relationship Manager, for ServisFirst Bank’s Charleston market.

SOUTH STATE BANK Bob Graham has joined South State Bank as corporate insurance program manager.

TD BANK, N.A.

Donald Jordan will succeed CFO Joseph Sawyer upon his retirement on December 31.

SANDHILLS BANK

TD Bank has named Mike Farmer as regional vice president for the Midlands market.

FIRST NATIONAL BANK

Whitney Hughes has joined Sandhills Bank as a Relationship Manager at the Windy Hill branch.

UNITED COMMUNITY BANK

First National Bank, the largest subsidiary of F.N.B. Corporation (NYSE: FNB), announced that it has hired Michael M. “Mike” Sarvis as Greenville Market President. Based in Greenville, Sarvis oversees a Commercial Banking team focused on establishing and maintaining banking relationships with middle market and large corporate clients throughout upstate South Carolina.

Sheri Webb has joined Sandhills Bank as a Loan Operations Specialist at the corporate office in North Myrtle Beach. Lisa Sawicki has joined Sandhills Bank as a Staff Accountant. Carole Wilson has joined Sandhills Bank as a Loan Administrator at the International Drive branch in Myrtle Beach. Brandi Sharkey has joined Sandhills Bank as the BSA Coordinator.

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Lisa Bethouwer has joined United Community Bank as Vice President/Director of Retail Product Management. Beth Hallock has been promoted to President of SBA at United Community Bank. Dennis Rowlen has been promoted to Team Leader of its Senior Care Lending Group at United Community Bank.

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Banking News

AMERIS BANK Ameris Bank collected a record number—2,661,492 food items—during its 10th annual Helping Fight Hunger food drive initiative that took place throughout the month of October. Hunger and food insecurity affects millions of Americans, and Ameris Bank is honored to help in the fight against hunger by giving back to those in need. The food drive benefitted more than 139 food banks throughout 135 communities in the Southeast. Additionally, Ameris Bancorp donated $100,000, which will be divided based on a tier system between the food banks associated with the top 25 locations that collected the most items. COASTAL CAROLINA NATIONAL BANK Coastal Carolina National Bank has opened a Loan Production Office (LPO) In Spartanburg, SC. The opening of this LPO marks CCNB’s second location in the upstate. FED, FDIC GREENLIGHT BB&T-SUNTRUST DEAL The Federal Reserve Board on Nov. 19 approved the merger of Winston-Salem, N.C.-based BB&T Corp. and Atlanta-based SunTrust Banks Inc. The Federal Deposit Insurance Corp. also approved the merger of the two companies’ respective units, Branch Banking and Trust Co. and SunTrust Bank. The approvals clear the way for BB&T and SunTrust to join, which the companies expect to do Dec.6. No further regulatory approvals are required to complete the merger of the two companies and all related subsidiaries. The resulting holding company will be named Truist Financial Corp. FIRST HORIZON, IBERIABANK TO COMBINE IN $3.9B MERGER OF EQUALS Memphis, Tenn.-based First Horizon National Corp. and Lafayette, La.-based IBERIABANK Corp. agree to combine in an all-stock merger of equals valued at about $3.9 billion. Under the terms of the deal, IBERIABANK shareholders will receive 4.584 First Horizon common shares for each 30

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common stock they own. First Horizon shareholders will own 56% of the combined company and IBERIABANK stockholders will own the remaining 44%. The combined company will operate under the First Horizon name and will be headquartered in Memphis. D. Bryan Jordan, president, chairman and CEO of First Horizon, will become CEO of the combined company, and Daryl Byrd, IBERIABANK’s president and CEO, will become executive chairman of the combined company. SOUTH STATE BANK Nathaniel A. Barber, community development and Community Reinvestment Act officer at South State Bank, was a featured panelist at the 2019 South Carolina NAACP Economic Summit. The event was held in Orangeburg on Saturday, Oct. 5 at Claflin University and aimed to help community members build and sustain their personal wealth. THE BANK OF SOUTH CAROLINA The Bank of South Carolina has opened a new banking office at 9403 Highway 78 in North Charleston, SC. The office will serve as the Bank’s fifth location in the greater Charleston area and its first in North Charleston. UNITED BANKSHARES TO BUY CAROLINA FINANCIAL IN $1.1B DEAL Charleston, W. Va-based United Bankshares Inc. is buying Charleston, S.C.-based Carolina Financial Corp, parent of CresCom Bank, in a deal valued at about $1.1 billion. United will acquire 100% of Carolina Financial’s outstanding shares in exchange for United common shares. The combined organization will have about $25 billion in assets. CresCom Bank will merge into United Bank as part of the deal. United will enter South Carolina with 24 branches to be ranked No. 11 with a 1.81% share of roughly $89.38 billion in total market deposits. Carolina Financial CEO Jerry Rexroad will join United as a board member and executive officer. He will also serve as the chairman of United’s Carolinas franchise.

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2020

Calendar of Events J A N UA RY 2 0 2 0 Women in Banking Leadership Symposium January 28-29 Hilton Columbia Center, Columbia, SC For Women Bankers and Associate Member Leaders. Member=$385 / Non-Member=$850

F E B R UA RY 2 0 2 0 Commercial Lending School February 4-6 Springhill Suites Downtown Vista, Columbia, SC

Safety and Soundness Workshop February 11 Graduate Columbia (formerly the Inn at USC), Columbia, SC

For Commercial Lenders, Senior Loan-Support Officers and Loan-Review Officers. Member=$695 / Non-Member=$1,900

For Bank Directors, CEOs, CFOs and Senior Managers. Member=$325 / Non-Member=$825

Banking Careers 101 February 12 Seawellâ&#x20AC;&#x2122;s, Columbia, SC

BSA/AML Workshop February 5-6 Courtyard Marriott at USC, Columbia, SC

For College Students from across SC; Recruiting Day for Bankers.

For Bank Security and Risk Officers, Compliance Officers, CRA Officers, and BSA and AML Specialists. 1 day: Member=$350 / Non-member=$850 Both days: Member=$620 / Non-member=$1,600

Human Resources Conference March 25 Courtyard Marriott at USC, Columbia, SC For Human Resource Officers. Member=$295 / Non-Member=$675

MARCH 2020 Young Bankers Division Annual Conference March 6-8 The Ritz-Carlton Reynolds, Lake Oconee, Greensboro, GA For Emerging Leaders, Bankers and Associate Members. Banker/Associate Member=$480, Spouse/Guest=$290

Directors and Managers Workshop featuring David Kemp March 11 Graduate Columbia (formerly the Inn at USC), Columbia, SC For Directors, CEOs and Senior Management. Member=$395 / Non-Member=$895

Mortgage Bankers Conference March 12 Courtyard Marriott at USC, Columbia, SC For the professional with a specific emphasis in senior management, compliance and audit as it relates to the mortgage banking industry. Member=$275 / Non-Member=$695

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Spring Compliance Conference March 18 Courtyard Marriott at USC, Columbia, SC For Executive Risk-Management Team and Regulatory Compliance Officers. Member=$295 / Non-Member=$775

Bank Operations Conference and Trade Show Date TBD Columbia, SC For CEOs and Operations Personnel. Member=$325 / Non-Member=$850

All registra tion fees are subject to chan ge.

2020

Calendar of Events APRIL 2020 Trust and Wealth Management Conference and Trade Show Date TBD Columbia, SC

Asset Liability Management Conference Date TBD Columbia, SC

For Trust Personnel and Wealth Management Personnel. Member=$295 / Non-Member=$695

For Asset Liability Managers, CEOs and CFOs, as well as outside Directors. Member=$315 / Non-Member=$900

JUNE 2020

J U LY 2 0 2 0

SCBA Annual Convention and Trade Show June 14-17 The Broadmoor, Colorado Springs, CO

South Carolina Bankers School July 12-17 Lander University, Greenwood, SC

For CEOs, CFOs, directors and upper executive management teams. Banker/Associate Member=$545, Spouse/Guest=$425

Students are expected to be junior- and mid-management-level officers or administrators. Member=$1,450 / Non-Member=$2,150

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SCBA Webinars:

another source for your training needs! The SCBA now offers three choices for director, employee training and development without having to leave the office. We are pleased to partner with these fine training and educational resources:

Please visit https://scbankers.org/scba-events to see the myriad of courses and webinars offered and to register! Visit www.scbankers.org for new webinars added daily.

South Carolina Bankers Association is your Local ABA Training Provider, and through the American Bankers Association (ABA) you have access to a very comprehensive source for training and education. The ABA Training includes extensive learning opportunities suited to specific job roles, in both facilitated and self-paced online formats. Online training delivers unmatched content that meets the needs of today’s learners and the changing demographics of the banking industry. Many of the courses meet the requirements for ABA certificates and diplomas, and of the Institute of Certified Bankers (ICB) for exam or continuing education credits. Flexible and cost-effective, ABA’s online training opportunities are continually updated to provide a superior learning experience that can be accessed from anywhere, at any time. For information on these educational resources, contact E. Anne Gillespie at 803-779-0850 or email at agillespie@scbankers.org. Please use this link to register for ABA Training through the SCBA: https://scbankers.org/aba-online-training/

The SCBA and Total Training Solutions provide webinars to your financial institution on topics most important to the success and compliance of your bank. Whatever your online training needs may be, SCBA/TTS can assist you. Visit https://scbankers.org/scba/webinars/ to learn more about the SCBA/TTS webinars and to see the schedule for a myriad of topics. There are over 300 webinars scheduled for 2020! 34

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HERE IS A SAMPLING OF UPCOMING WEBINARS: JANUARY 9.......... Writing Marijuana Procedures and Policy JANUARY 9.......... 5 Strategies to Jump Start Core Deposit Growth in 2020 JANUARY 22........ IRA Update FEBRUARY 7......... BSA Annual Staff Training FEBRUARY 14....... Call Report Updates FEBRUARY 26....... TRID Hot Spots MARCH 2............. Best-Ever Compliance Checklists for Commercial Loans MARCH 23........... Residential Construction Lending

MARCH 31........ Basic Cash Flow Analysis

FinPro is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

GREAT FOR SENIOR EXECUTIVES AND DIRECTORS ALL OF OUR LIVE WEBINARS QUALIFY FOR CPE CREDITS! Continuing education is critical! The Global Webinar Package is a multi-faceted educational program designed specifically to help reduce risk to your institution, provide valuable learning and develop strong leadership. With The Global Webinar Package, directors have the opportunity to demonstrate that they are keeping abreast of industry developments and trends in a highly effective manner. We encourage you to take advantage of this exciting and invaluable program for yourself, for your board and for your bank.

PROVIDES TIMELY AND EFFICIENT TRAINING FinPro’s Global Webinar Package is a series of 24 webinars offered throughout the year. The Global Webinar Package is structured with one flat fee per year that allows unlimited director and employee participation. The webinars are 60 minutes and occur twice a month. All webinars are recorded, so if you can’t attend the live webinar, you can view the recording at your convenience. CPE credits apply to the live webinars only.

DATES & TOPICS

Webinars are held at 11:00 am EDT 1/9/20 1/23/20 2/13/20 2/27/20 3/12/20 3/26/20 4/9/20 4/23/20 5/14/20 5/28/20 6/11/20 6/25/20

Economic Webinar Q1 Interest Rate Risk Assumptions and Strategies Data Analysis Trends in M&A Talent Management Regulatory Hot Topics Economic Webinar Q2 Effective Loan Stress Testing CECL Implementation Cybersecurity Effective Risk Management Cannabis and Banking

GLOBAL WEBINAR PACKAGE $1,500 Members of SC Bankers Association $1,700 Non Members of SC Bankers Association

Do you want

7/9/20 Economic Webinar Q3 7/23/20 Digital and Electronic Banking 8/13/20 Targeting the Millennials 8/27/20 Liquidity and Funding Strategies 9/10/20 Litigation Trends in Community Banks 9/24/20 Keys to Effective Strategic Planning 10/8/20 Economic Webinar Q4 10/22/20 Valuation and the Community Bank 11/5/20 BSA/AML/OFAC Trends 11/19/20 Election Results and Next Steps 12/3/20 Community Bank Trends 12/17/20 Keys to Banking 2021

Please vist our website www.finpro.us to register. Email: finpro@finpro.us | Phone: 908-234-9398

ACCESS,

recognition and exposure to the banking industry? Sponsorships through the SCBA is a great way to enhance your company’s visibility and brand recognition among a select group of banking industry representatives and event attendees, including C-suite executives and key decision makers within South Carolina’s financial institutions. Don’t miss out on the chance to develop new business leads, meet and network with South Carolina’s banking decision makers, and show your support for our state’s banks.

Visit our website scbankers.org to learn more or contact Anne Gillespie, agillespie@scbankers.org

2009 Park Street â&#x20AC;¢ PO Box 1483 Columbia, SC 29202-1483

Reminder JANUARY 2020

Palmetto Scholarship Application Opens!

For more information, visit scbankers.org/scholarships

Save the date

The 2020 SCBA Annual Convention JUNE 14-17, 2020 | COLORADO SPRINGS, COLORADO

FOR MORE INFORMATION, PLEASE VISIT: https://scbankers.org/events/annual-convention-trade-show/