Palmetto Banker Fall 2014

PALMETTO BANKER SOUTH CAROLINA BANKERS ASSOCIATION

FALL ISSUE 2014-4

YOUNG

Recalling Cash Depositories Bankers School Graduates 39 Young Bankers Hit the Links

BANKERS DIVISION PIPELINE FOR EMERGING LEADERS

Contents 2009 Park Street, Post Office Box 1483 Columbia, S.C., 29202-1483 Phone: 803.779.0850; Fax: 803.779.0890 Web: www.scbankers.org Chairman H. Blake Gibbons, Jr. The Ci zens Bank, Olanta Chairman-Elect David M. Lominack TD Bank, N.A., Greenville First Vice Chairman Robert R. Hill, Jr. South State Bank, Columbia Treasurer Cur s A. Tyner, Sr. Heritage Community Bank, Hartsville Immediate Past Chairman Art Seaver, Jr. Southern First Bank, Greenville SCBA Staff President and CEO Fred L. Green, III Execu ve Vice President, CFO/BankPAC Treasurer Donna S. Taylor Execu ve Vice President, Employee Benefit Trust/ South Carolina Bankers School Teresa D. Taylor Senior Vice President, Conven ons/Conferences E. Anne Gillespie Senior Vice President, Legisla ve & Regulatory A. O’Neil “Neil” Rashley, Jr. Vice President, SCBA Services, Inc. Carolyn E. Laffi e Director, Adver sing & IT M. Caroline Sheorn Administra ve Assistant Bonnie E. Nelson Director, Marke ng and Communica ons; Editor, Palme o Banker R. Kevin Dietrich The Palme o Banker is a publica on of the South Carolina Bankers Associa on. The magazine exists to serve its members by communica ng news of interest, educa on and SCBA ac vi es.

Items from members are welcome, however the editor reserves the right to refuse copy. With the excep on of official announcements, the SCBA disclaims responsibility for opinions expressed and statements made in ar cles published in the Palme o Banker.

Young Bankers Division a Proving Ground for State’s Bankers Page 6

Joe Wilson: Long me SC Legislator, Longme SC Patriot Page 15

President’s Message

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Cash Depositories Helped SC Survive Depression

8

Arthur State Bank Built on Cash Depositories

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Community Bankers Forum Around Corner

Young Bankers Golf Tournament

11 12-13

Three Inducted into Half-Century Club

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Professional Development Calendar

17

Banking News

18-19

Personal Transac ons

20-21

SC Bankers School Graduates 39

24-25

Brant Re res from SCBS A er 30 Years

25

Bank Services Remain Great Value

27

Good Samaritans

29

New Associate Members

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Cover photo: Chad Westendorf, right, vice president with PalmeƩo State Bank and the chairman of the Young Bankers Division, and Glenn Buddin, chairman-elect of the Young Bankers Division and CEO of Blue Ridge Bank. Photo by Zach Sykes/Octagon SoluƟons.

President’s Message

Casting a Ballot on November 4 is Vital to Our Future

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s I’m certain all of you know, 2014 is an important elec on year here in South Carolina.

We’ll not only be vo ng to determine the state’s cons tu onal officers, including that of governor, but the state’s en re Congressional delega on, all South Carolina’s 124 House seats and countless local offices will be on the ballot, as well.

As the SCBA learned from a survey of its bankers done last year, our industry is one of the largest and most vibrant in the state. Banking employs more than 25,000 indiGreen viduals in South Carolina: That’s a lot of clout.

But it’s up to each and every one of us to wield that clout effec vely. As bankers, we all have a stake in the future viability and compe veness of our industry. Like it or not, our future is largely determined by the South Carolina General Assembly and the U.S. Congress.

To date, we’ve been fortunate to have enjoyed solid support from our Washington delega on as well as from the

‘As bankers, we all have

a stake in the future viability and compe veness of our industry. Like it or not, our future is largely determined by the South Carolina General Assembly and the U.S. Congress.’

Statehouse here in Columbia. But if we want to ensure quality elected officeholders it’s impera ve that we make certain our employees are educated on the issues and that they get out and vote. And this means cas ng ballots in local elec ons, as well.

One of the ways the SCBA seeks to educate its membership is by profiling individual elected officials who make the laws that affect our industry. Over the past couple of years, one of our goals has been to do a be er job of highligh ng the individuals who influence the laws – both federal and state – that impact the financial services

industry. This issue we look at U.S. Rep. Joe Wilson, the Lexington County na ve who’s been a long me friend of banking.

It has been said that vo ng is a right best exercised by people who have taken me to learn about the issues. Of course, it can be difficult to get a read on a group of legislators as a whole, especially when one considers that the General Assembly has 170 members alone. Even more daun ng is the fact that in the current session, more than 3,500 bills have been introduced.

If your bank would like to bring its employees together to have a member of the SCBA discuss issues of importance to the banking industry or to discuss the importance of elec ng quality public officials, both Senior Vice President Neil Rashley and myself are available.

One thing about a representa ve democracy is that each vote carries the same weight at the polling place.

It doesn’t ma er if you are a CEO or a part- me teller, your vote counts the same on Elec on Day. And all of us in our industry stand to benefit from good banking legisla on, just as we have something to lose if bad laws are enacted.

But if we don’t take the me to get out and vote on Nov. 4, we forfeit the opportunity to make our voice heard on important issues. More than that, we open the door for poten ally ponderous and unfriendly legisla on that could hurt our industry, handcuff our employees and handicap our banks.

If we’re not willing to look out for ourselves, why should we expect anyone else to?

Please encourage all your team members to get involved in this year’s elecons, and let them know which public officials, whether they’re running for state or local office, have supported our industry.

(Fred L. Green III is the president and chief execu ve officer of the South Carolina Bankers Associa on.)

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Cover Story

Young Bankers: Where Emerging Leaders Develop Kevin Dietrich Palme o Banker Editor

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s chairman of the Young Bankers Division of the South Carolina Bankers Associa on, Chad Westendorf has no shortage of individuals to call upon within his own ins tu on for direc on. He is the seventh banker associated with Hampton-headquartered Palme o State Bank to chair the division since its incep on nearly 60 years ago.

Joining such elite company is an honor that hasn’t escaped Westendorf, or Young Bankers Division Chairman-Elect Glenn Buddin, the chief execu ve officer of Blue Ridge Bank in Walhalla.

“Most of the people who are involved in the Young Bankers Division go on to play bigger roles within our industry,” said Westendorf, a vice president with Palme o State Bank. “These are the up-and-coming leaders, so it’s a real privilege to be a part of it.”

The Young Bankers Division is invaluable for networking and learning, Buddin said.

“Even though I’m a CEO, my bank is small so my experiences are similar to, say, someone like (Columbia market president) Kevin Lindler of First Ci zens, and I can call him up and he will o en have answers to my ques ons and I can help him with ques ons he has,” Buddin said. “Then there’s Jim Smith at Sandhills Bank, who runs an ins tu on that’s about the same size as mine. As CEOs of smaller banks we can bounce ques ons and ideas off each other and learn from each other.”

There are no hard and fast rules for eligibility in the division, but generally speaking the division is open to individuals who are: • Commi ed to a banking career; • Looking to bolster financial literacy among all South Carolinians; • Interested in becoming more involved in South Carolina’s banking industry; • Seeking to meet and build las ng rela onships with other bankers

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and professionals in South Carolina; • Interested in leadership and professional development; and • Wan ng to become more involved in poli cal grassroots efforts on both the state and federal levels.

“Simply put, the division is seeking smart, passionate, enthusias c bankers dedicated to be ering the banking industry and the communi es they serve,” said Carolyn Laffi e, the South Carolina Bankers Associa on vice president who heads the program.

Many of the individuals in top leadership roles at banks across South Carolina, whether they are mul -state

“My par cipa on allowed me to work with leaders and future leaders in a way that I could not have otherwise,” he said. “My par cipa on gave me great insight into the banking industry and the relevant issue of the day. It exposed me to the incredible importance of developing rela onships with poli cians on a state and na onal level and the role these poli cians play in shaping the future of banking.

“But maybe most importantly, my me with the Young Bankers helped me develop personal and professional rela onships that will be with me for the rest of my life,” Erwin added. “I have

Chad Westendorf, le , of Palme o State Bank, and Glenn Buddin of Blue Ridge Bank serve as the chairman and chairman-elect, respec vely, of the Young Bankers Division.

ins tu ons or small mutual thri s, were ac vely involved in the Young Bankers Division of the SCBA at one point in their career. The division has made a name for itself as a training ground for the industry’s emerging leaders.

Sam Erwin, president and chief execuve officer of The Palme o Bank, one of South Carolina’s larger state-based ins tu ons, said his involvement in the division had a definite impact on his career in that it allowed him to be plugged into the industry on a statewide basis.

developed great friendships that started at Young Banker events, and have relied on contacts I made as part of my involvement to hire and work with some great bankers.”

The Young Bankers Division is noted for several ini a ves, including: • A Financial Literacy program which touched 58,000 individuals during the past fiscal year; • A scholarship program highlighted by the YBD Golf Tournament which last year gave out nearly $40,000 to

Cover Story having other banks, people I’ve met through the Young Bankers Division, to Want to Get Involved? call upon when I have something I need a hand with,” he added.

For more informa on on the Involvement in the Young Bankers Division enables young professionals Young Bankers Division, contact South Carolina Bankers Associa on to begin building rela onships that will o en last a life me, said John Poole, Vice President Carolyn Laffi e at CEO of Spartanburg-based Carolina Alli803.779.0850 or by email at ance Bank. carolynlaffi e@scbankers.org.

“These are individuals that you get to know and trust, and that you can Consider a ending the 2015 turn to for ideas and advice,” he said.

Young Banker Division Annual “You can call them up and ask them if Conference, March 6-8, 2015, they’ve had this problem or that problem in their organiza on, and get their at Wild Dunes. thoughts on how they dealt with it.”

Strickland added that involvement in Young Bankers helps the state’s bankers younger bankers coming up engaged,” develop an understanding and appreciaInves ng in the Next Genera on he said. “It helps iden fy the young on for compe tors.

An ins tu on’s inclina on to give its talent that’s going to form the next “There’s a respect we have for each younger bankers me to par cipate in genera on of leaders and get them other, both as bankers and as people,” the YBD is o en seen as a vote of confiinvolved in the Associa on.” he said. “I had a mee ng recently and dence, said one current board member.

If there’s one thing every member of one of the things that came up was the “A bank’s willingness to get you the Young Bankers Division, past and differences between small banks and involved in the Young Bankers Division present, agrees upon it’s the value of shows it’s willing to invest in you, which the contacts made while involved in the big banks and the role each plays.

“Those of us within the industry unis a huge compliment,” said Elizabeth division.

“Betsy” Steifle, a vice president with the “If I’ve got an HR issue or an opera ons derstand that difference, and I believe some of that comes from the interacBank of Travelers Rest. issue, I can call on bankers across the ons we’ve had over the years with That investment pays off in terms of state for solu ons, and I’ll almost always people at different-size banks, many of both contacts and knowledge. get an answer,” Buddin said. “How else Jus n Strickland, president of Southern would you find out these sorts of things which began with connec ons made through Young Bankers,” he added.

First Bank, said he didn’t know much without hiring a consultant? There’s Buddin said he believes it’s benefiabout the Young Bankers Division or the nothing like prac cal experience. cial to work with compe tors, a view South Carolina Bankers Associa on un l “We just couldn’t compete without that might not be as apparhe got involved with the former, ent without the interac on rela vely early in his career. offered through the Young “You really start to understand Bankers Division. the value of the Bankers As“Banking is a partnership. socia on and what it does for We con nue to compete but the state when you get involved we’re different from other with Young Bankers,” he said. industries because we’re “And you not only begin to unwilling to work together derstand the importance of the because banking is a personal associa on to your company rela onship-driven business,” but to the industry as a whole. he said.

The Young Bankers Division re“It’s our feeling that discusally broadens your horizons.” sions about bank opera ons, In addi on, the Young Bankers even between compe tors, Division becomes a good platcan only benefit banking and form to move to the next level, Strickland said.

Members of the Young Bankers Division have long been involved in bank customers,” Buddin added.

“It’s a good way to get the financial literacy efforts across the state.

the children of employees of SCBAmember banks; • Banking Careers 101, an annual event in which college students are brought together to learn about opportuni es in banking; and • The Young Bankers Conference, held annually each spring.

For Westendorf, involvement in financial literacy has been par cularly meaningful.

“I’ve been very ac ve in the financial literacy program and have gone into a lot of the schools in our area,” he said.

“When a child comes up to me in a grocery store and thanks me for coming and talking to his class, it’s pre y special.”

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Feature

Cash Depositories were S.C.’s Answer to Depression

By Kevin Dietrich Palme o Banker Editor

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depository concept came into being in South Carolina, one needs to examine the contrac on that took place in the state’s banking industry following World War I. South Carolina was a decidedly agricultural state at that me, and its farmers had benefi ed greatly from demand for co on brought on by the First World War. “S ll caught up in the euphoria of warme prosperity, many South Carolinians in the year and a half a er the Armis ce were convinced that ‘good mes’ were here to stay,” according to the book Making Change: South Carolina Banking in the Twen eth Century. “By late summer of 1920 co on sold at an all- me high of 42 cents (a pound) and seemed des ned to go even higher. Land values had inflated wildly during the war, and

farmers had taken to holding their crops in storage, looking to poten al profits rather than to real assets.”

But in the fall of 1920, sudden deflaon set in. With the state’s economy overwhelmingly dependent on co on, it found itself par cularly vulnerable to the collapse. Co on fell to just 9 cents a pound by year-end. In addi on, tobacco prices also plunged.

As if that weren’t bad enough, by the 1920s the boll weevil had begun to wreak havoc on the state’s co on crop, exacerba ng agricultural woes.

Farmers who had borrowed heavily looking for a big return now found themselves unable to repay loans, and banks began failing le and right. The downturn would con nue into the 1930s as the Great Depression wreaked havoc on the na on.

To demonstrate just how hard hit the state’s banks were consider that on June 30, 1920, there were 456 na onal and state banks located in 236 Palme o State communi es.

By May 1933, that number had shrunk to 113 ac ve ins tuons and 25 branch banks located in 109 towns.

Residents of many small communi es no longer had access to the services of a financial ins tu on.

he Great Depression represented the worst calamity to strike the U.S. banking industry in the naon’s history. Thousands of ins tu ons across the country failed, precipita ng a disaster that struck at the core of the country’s financial system.

South Carolina, perhaps not surprisingly, handled the downturn in its own unique manner. The economic slump that hit the United States in late 1929 had been evident in the Palme o State throughout the 1920s, resul ng in the closure of hundreds of banks during that decade.

By the early 1930s, many Palme o State communi es were already without banks, so state leaders authorized the forma on of cash depositories, ins tu ons that were able to receive deposits and had to keep funds received on hand in cash.

In many respects, the cash depository concept, which didn’t catch on anywhere besides South Carolina, represented a reversion to the pre-banking prac ce of simply safekeeping funds, as ini al legisla on forbid depositories from lending money and paying general interest.

Originally intended as temporary ins tu ons, cash depositories quickly sprang up in the mid-1930s, with more than 50 being formed by 1937, and some survived in the 1960s and even ‘70s.

While it’s been nearly 45 years since the last cash depository converted to a bank, several ins tu ons that began as cash depositories con nue today as banks, with many s ll serving smaller South Carolina commuA 1939 le er to customers of the Clarendon Cash Depository ni es. in Manning announcing the ins tu on’s conversion to a To understand how the cash state-chartered bank.

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Humble Beginnings The cash depository concept came about following the failure of the Aiken-based Bank of Western Carolina in 1931. The closure le the nearby town of Ellenton without a bank, so community leader Wallace Cassels devised the cash depository concept and pe oned the S.C. General Assembly, in a bid to assist his and other smaller communi es that were no longer being served by banks.

Approved by the Legislature, Con nued on Next Page

Feature

Depositories

This Arthur State Bank office in Chesnee traces its roots back to 1932, when it began as the Chesnee Cash Depository.

Arthur State Bank Built on Foundations of Three Former Cash Depositories

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n early 1933, with widespread bank failures having sapped public confidence in the na on’s financial system, newly elected President Franklin D. Roosevelt declared a four-day banking holiday that shut down all banks. Its purpose was to give regulators me to evaluate whether ins tu ons were in proper financial health to remain open.

In Union County, just one bank was found to be viable, in Jonesville, 11 miles away from the county seat of Union.

This wasn’t good news for Harry M. Arthur, a Union businessman. Arthur owned a chain of department stores, a chain of hosiery mills and several herds of ca le, but found himself without a banking facility close at hand.

Arthur, who would later serve as chairman of the SCBA during 1949-50, approached his father J. D. Arthur, who had been a bank cashier prior to re rement.

Harry Arthur loaned funds to his father and two of his brothers, then put in an addi onal amount himself to form the Arthur Cash De-

pository, which opened on April 1, 1933.

Two years later, the depository was converted to Arthur State Bank.

On March 1, 1934, Harry Arthur established the Woodruff Depository in Spartanburg County. In 1946, it was converted to Woodruff State Bank.

Later, the name was changed to Pinnacle State Bank.

The third cash depository that became part of the Arthur State Bank franchise was begun in Chesnee, also in Spartanburg County, in August 1932. Chesnee Cash Depository was converted to a bank in 1955, around the me it was acquired by the Arthur family, and became Chesnee State Bank. Later, its name was changed to Carolina State Bank.

In 2003, Pinnacle State Bank and Carolina State Bank were combined with Arthur State Bank under the Arthur State Bank name to form a single ins tu on that today has more than $500 million in assets.

– Kevin Dietrich

Gov. Ibra C. Blackwood signed the bill on April 4, 1932. That same day, Cassels applied for a charter, which was granted on April 10, 1932. The following day, the Ellenton Cash Depository opened for business.

The Ellenton Cash Depository operated from inside Cassels’ “Long Store,” a general store which featured feed, groceries, dry goods and other products, including everything from swamp boots to coffins.

The Ellenton Cash Depository was set up for privacy, former Ellenton resident William Stephen Harley recalled in an interview for Lucius Sidney O’Berry’s 1999 book “The only way in was through a li le door and you went into a stall about the size of a bathroom, with a li le window and of course, the window was closed,” Harley remembered.

“If they didn’t see you or hear you, there was a li le bell to ring or you could knock on the window and they’d open it. In other words, nobody was allowed in there but you. It was your private li le box, where you transacted your banking business. If somebody else was behind you, they waited in the Long Store, in the store Cassels ran. The bank was just big enough for one person.”

The Ellenton Cash Depository ended up moving to nearby Jackson in 1950 when the town was acquired by the U.S. Atomic Energy Commission as part of a site for the Savannah River Plant and its residents were forced to relocate. The ins tuon later became the Jackson Cash Depository, converted to a See Depositories, Page 23 9

Community Bankers Forum

SCBA Community Bankers Forum Set for October 28 vide an economic update.

U.S. Congressman Mick MulvaThe panel discussion will inney will be the keynote speaker clude representa ves from the at the 2014 Community BankFederal Deposit Insurance Corp., ers Forum, to be held Oct. 28 in the Federal Reserve Bank of Columbia.

Richmond and the Office of the Mulvaney is a second-term ReComptroller of the Currency. publican who represents South “The agenda is filled with Carolina’s 5th Congressional meaningful topics, including District. He is a member of the capital planning, legisla ve powerful House Commi ee on remarks and an economic upFinancial Services. date,” said James B. “Jim” Smith, Mulvaney can be expected to President and CEO of Sandhills touch on the recent onslaught of Bank, and chairman of the Comregula ons, including those assomunity Bankers Council. “The ciated with Qualified Mortgage, content will be very relevant for Basel III and a host of changes U.S. Rep. Mick Mulvaney, R-Indian Land, will be the keynote your management teams, and I connected to the Dodd-Frank speaker at the 2014 Community Bankers Forum on Oct. 28. encourage you to take advantage Act, during his talk.

The SCBA has also lined up speakers of this opportunity.”

Other speakers include Edward A. The event will be held at Courtyard by who will address an array of topics of in- “Ward” Rice and Daniel L. “Dan” Pake, terest to community bankers, including both from Hovde Group, who will speak Marrio @ USC, 630 Assembly St. in Cocommunity bank valua on, na onal and on bank valua on; and Dr. Joseph C. lumbia. For more informa on, contact Anne Gillespie at 803.779.0850 or by state economic updates, and a panel of Von Nessen, an economist at USC’s regulatory experts.

Moore School of Business, who will pro- email at agillespie@scbankers.org.

Young Bankers Golf Tournament

Young Bankers Raise Nearly $18K at Golf Tournament Nearly $18,000 was raised at the 25th annual Young Bankers Division Scholarship Golf Tournament, held Sept. 22 at The Members Club at Woodcreek in Elgin.

All tournament proceeds will go toward scholarships for children of employees of SCBA-member ins tu ons. Last spring, the SCBA awarded $39,000 in scholarships to deserving students.

The winning team was made up of Sam Baxter, Keith Buckhouse and Bill LaMo e, all with NBSC, and Michael Seezen of McNair Law Firm.

Bringing up the rear was the foursome of Gwen Bunton, Bank of Walterboro; Lindsay Joyner, Gallivan, White & Boyd; Neil Rashley, SCBA; and John Stevens, AT-NET Services. Also of note, Young Bankers Chairman Chad Westendorf of Palme o State Bank tallied his first-ever hole-in-one during the tournament.

In all, nearly 140 golfers par cipated, one of the best turnouts ever for the SCBA event.

Clockwise from top: Jennifer Ashburn, Sandhills Bank; Lisa Grimmer, Southcoast Community Bank, and Mason Dunlap, Integrated Financial Soluons; Greg Shuler and Ashley Wheeler, The Ci zens Bank, Alex Shuford, South State Bank, and Blake Gibbons, The Ci zens Bank; Young Bankers Division Chairman Chad Westendorf, The Palme o Bank, right, celebrates his first hole-in-one; Young Bankers Division golf chairman Jesse Smith, First Ci zens, Parker Barnes and Will Johnson, Haynswoth Sinkler Boyd PA, and Peyton Bryant, NAI Avant; Will Bucyk, The Bank of Clarendon, Collin Mackie, A/R Funding, Will Holmes and Michael Delaney, First Ci zens; and in the center, Richard Sturm, Ameris Bank.

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Young Bankers Golf Tournament

Clockwise from top le : Carter Pearson, Southcoast Community Bank; Chase Talbert, Robbie Hollings, Zack Shaw and Gene Walpole, all with The Bank of South Carolina; Nakia Davis, The Peoples Bank; Jim Hu o, Joe Kassim and GriďŹƒn Morrow, all of CresCom Bank, and Lonnie Chestnut, Regions Bank; SCBA Chairman Blake Gibbons, The Ci zens Bank; David Looper and Marvin Robinson, Wells Fargo, Lee Kiser, Neslon Mullins Riley & Scarborough, and Jimmy Rambo, The Palme o Bank; Bryan Fink, South State Bank; Blake Dressler, Southern First Bank, Geordie Schroder, Columbia Development, and Zach Freeman, Southern First Bank; special thanks to all those who sponsored the 2014 Young Bankers Division Scholarship Golf Tournament; (center top) Sarah Venturella, Woodforest Na onal Bank; (center bo om) Neil Rashley, South Carolina Bankers Associa on, Gwen Bunton, Bank of Walterboro, Lindsay Joyner, Gallivan, White & Boyd, and John Stevens, AT-NET Services.

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Meet Your Legislator

Joe Wilson: Patriot with S.C., U.S. Interests at Heart

By Kevin Dietrich Palme o Banker Editor

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ongressman Joe Wilson’s accomplishments as a public servant are myriad: The U.S. Representave for S.C.’s 2nd congressional district previously served in the state senate from 1984 to 2001; was deputy general counsel for former S.C. Gov. Jim Edwards at the U.S. Dept. of Energy; served on the state development board, now known as the S.C. Department of Commerce, in the 1970s; was a municipal judge in the Lexington County community of Springdale; and served as an aide to U.S. Senator Strom Thurmond.

But Wilson takes perhaps most pride in his service to our na on’s military.

Not only did he serve in the U.S. Army Reserve from 1972 through 1975, and in the Army Na onal Guard from 1975 through 2003, rising to the rank of colonel, Wilson’s four sons have also served in their na on’s armed forces: •

•

•

•

Oldest son Alan Wilson, South Carolina’s a orney general, is a lieutenant colonel in the Army Na onal Guard and served a year as a field ar llery officer in Iraq; Addison Wilson Jr., a graduate of the U.S. Naval Academy, is an orthopedic surgeon who served in Iraq; Julian Wilson is a major in the Army Na onal Guard, having served in Egypt; and Hunter Wilson is an engineer in the Army Na onal Guard who recently completed service in Afghanistan.

In addi on, Joe Wilson’s father Hugh was a member of the famed Flying Tigers, the 1st American Volunteer Group of the Chinese Air Force, which did much to protect the Chinese people during World War II. Not surprisingly, Wilson is extremely involved in military ma ers on Capitol Hill.

He serves on the Commi ee on Armed Services and is chairman of the Subcom-

U.S. Rep. Joe Wilson, le , with Chad Westerndorf, Chase Talbert and David Morrow, who were among bankers who traveled to Washington, D.C., in March on the SCBA’s annual trip to the na on’s capital to meet with elected officials.

mi ee on Military Personnel, and also serves on the Subcommi ee on Strategic Forces. In addi on, Wilson serves on the Commi ee on Foreign Affairs and on the Subcommi ee on Europe and Subcommi ee on the Middle East and South Asia. He is also a member of the Commi ee on Educa on and the Workforce and serves on the Subcommi ee on Health, Employment, Labor, and Pensions.

Now in his sixth term represen ng South Carolina’s 2nd District, Wilson, 67, remains extremely concerned about naonal security, par cularly in regard to the impact that the 2011 Budget Control Act is having upon the military.

Congress returned to session last month to begin debate on a new budget and Wilson is working to reduce the impact of defense sequestra on, part of automa c spending cuts to federal government that began last year.

“I agree very much with former defense secretary Leon Pane a that defense sequestra on will hollow out the military,” Wilson said. “This is something that needs to be corrected.

“Fi y percent of the sequestra on was directed at 15.1 percent of the budget,

which is defense, and we’ll be addressing that,” he added.

Even with his focus on defense and interna onal affairs, Wilson hasn’t lost touch with issues back home.

He’d like to see a reduc on in corporate income taxes; he believes the U.S.’s current rate is too high and has had a chilling effect on economic expansion.

As a former real estate a orney, Wilson said he understands the significance of banking to the economy.

Wilson served on the boards of C&S Bank and Na onsBank, and underscored the industry’s role in South Carolina future.

“Banking is absolutely crucial to our state’s economic development,” he said.

Wilson has been a long and faithful supporter of banking, SCBA President and CEO Fred Green said.

“Joe Wilson has been a friend of banking as long as I can remember,” said Green, who began his career with C&S. He spent many years as a real estate attorney, so he worked closely with bankers for a long me, and he’s always been willing to listen to those in the industry and sought to find solu ons to issues that bankers face.”

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SCBA News

Three Inducted into Association’s Half-Century Club Three inidividuals were welcomed into the South Carolina Bankers Associa on’s Half Century Club recently.

Charles A. Laffi e Jr., chairman and chief execu ve officer of Palme o State

Bank in Hampton; William L. Pherigo, a director with NBSC in Columbia and SCBA chairman for the 1994-95 year; and Jack D. Tinsley, a director with Pickens Savings & Loan Associa on in Pick-

ens were recognized at the associa on’s annual conven on this past June.

For their half century of service, the three, shown below, received gi s from the SCBA.

Charles A. Laffi e Jr., le , chairman and chief Jack D. Tinsley, le , a director at Pickens Sav- Bill Pherigo, center, a director with NBSC execu ve officer of Palme o State Bank in ings & Loan Associa on in Pickens, receives a and former NBSC CEO and SCBA chairman, Hampton, receives a silver goblet commemo- silver goblet commemora ng his 50 years in is recognized for 50 years in banking. NBSC ra ng his 50 years in banking from Vice Chair- banking from Presidnet and Chief Execu ve CEO Chuck Garne and NBSC Chief Operatman R. Montague “Monk” Laffi e.

Officer Alex Ge ys. ing Officer Sara Fisher are also shown.

SCBA Announces Changes Among Associate Members

The South Carolina Bankers Associa on was recognized by the United Way for the third consecu ve year with the organiza on’s Pacese er Award. Pacese ers are a select group of companies and organiza ons that choose to complete United Way campaigns by early September of each year. To qualify, they must commit to at least a 10 percent increase in par cipa on/employee giving and at least one volunteer ac vity. Pictured above are, from le , Mac Benne , president and CEO, United Way of the Midlands, Anne Gillespie, senior vice president, South Carolina Bankers Associa on, and Holt Chetwood, co-chairman for the United Way of the Midlands.

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The South Carolina Bankers Associa on recently completed its 2013-14 fiscal year and the following companies are no longer SCBA Associate Members: AccuSource Solu ons, Inc. and TCP Leasing.

Please update your lis ngs to reflect these changes for the new fiscal year.

We thank these companies for their past support and wish them future success.

The SCBA would welcome both should they decide to rejoin the Associa on as Associate Members.

Associate Members are a valuable resource for SCBA-member banks, and afflia on with the SCBA boosts visibility and marke ng opportuni es for companies.

To learn more about SCBA Associate Membership or to become a Preferred Vendor, please contact Carolyn Laffi e at 803.779.0850 or through email at carolynlaffi e@scbankers.org.

Calendar Professional Development Calendar October 28, 2014 October 29-30, 2014 November 6, 2014 December 2, 2014 December 4, 2014 January 13, 2015 January 28-29, 2015 February 11, 2015 February 24, 2015 February 26, 2015 March 6-8, 2015 March 11, 2015 March 23-25, 2015 April 8-9, 2015 April 23, 2015 April 24, 2015 June 7-10, 2015 July 12-17, 2015

Community Bankers Forum Courtyard Marrio @ USC, Columbia, S.C. Consumer Lending School Courtyard Marrio @ USC, Columbia, S.C. Community Bankers Capital Markets Workshop Midlands Tech, Columbia, S.C. Loan Por olio Management Conference Inn @ USC Wyndam Garden, Columbia, S.C. Human Resources Conference Inn @ USC Wyndam Gardens, Columbia, S.C. SCBA Legisla ve Recep on Columbia Museum of Art, Columbia, S.C. Bank Secrecy Act Seminar Columbia, S.C. Banking Careers 101 Seawell’s, Columbia, S.C. Economic Developers Conference Boeing, North Charleston, S.C. Bank Opera ons Conference Columbia, S.C. The Boardwalk Inn, Wild Dunes, S.C. Young Bankers Division Annual Conference Safety & Soundness Workshop Columbia, S.C. Washington, D.C. Spring Government Rela ons Summit Women in Banking Symposium The Omni, Charlo e, N.C. Community Bankers Spring Peer Group Columbia, S.C. Teach Children to Save Day Across United States Annual Conven on & Trade Show Charleston, S.C. South Carolina Bankers School Lander University, Greenwood, S.C.

For more informa on on these events, call the SCBA at 803.779.0850 or go to www.scbankers.org.

Banking News

CresCom Expands, Adds 13 Locations in the Carolinas CresCom Bank drama cally expanded its franchise in early August when it announced the acquisi on of 13 branches in the Carolinas.

Charleston-based CresCom bought the offices from First Community Bank of Bluefield, Va. The branches have deposits of about $230 million and loans totaling $59 million.

Rexroad Three of the loca ons are in South Carolina and operate as People’s Community Bank.

The rest are in southeastern North Carolina.

“We really believe this is a growth market for us,” Jerry Rexroad, president and chief execu ve officer of Carolina Finan-

cial Corp., the parent of CresCom Bank, told the Charleston Post and Courier.

The bank agreed to pay First Community 3.11 percent of the acquired deposits, which at the me the deal was announced worked out to approximately $7.15 million.

CresCom also will buy the fixed assets, such as equipment and real estate, at book value, to be determined at later date.

The deal will nearly double CresCom’s retail branch network to 27 loca ons.

That figure includes the two newest offices the ins tu on opened in August, in the Cane Bay Planta on development near Goose Creek and in Socastee.

“Our acquisi on of these 13 branches drama cally increases our footprint throughout the coastal region of the Carolinas,” Rexroad said. “These branches are in key markets and coastal regions very similar to our current

markets, which will help us con nue to deliver quality products and services to customers.”

The bank’s assets will eclipse the $1-billion mark when the deal closes in early 2015.

First Community acquired the branches a er Whiteville, N.C.-based Waccamaw Bank failed in 2012.

More recently, the Virginia lender, which is based near the West Virginia border, is focusing on markets “that are in or near our core banking opera ons,” First Community Chief Execu ve Officer Gary Mills said in a statement released in June.

“This is a very strategic purchase on our part and a strategic dives ture by First Community,” Rexroad said.

CresCom expects to put its name and logo on the branches soon a er the sale closes, he added.

Carolina Alliance Bank Spartanburg, S.C.-based Carolina Alliance Bank recently acquired the commercial leasing opera ons of Spartanburg-based Dave McBride Leasing LLC. Concurrent with the signing of the purchase agreement, Dave McBride signed an agreement to manage the bank’s South Carolina leasing opera ons.

First Community Bank Palme o South Mortgage Corp. is now opera ng under the First Community Bank name. First Community acquired the company in 2011 and Palme o South con nued to operate as a separate en ty un l earlier this year, when the process of merging the two companies began.

South Atlan c Bank South Atlan c Bank has opened a full service office on Queensborough Boulevard in Mount Pleasant, a er receiving regulatory approval. The bank had operated a loan produc on office at the loca on since October 2013. The new fullservice office is the bank’s fi h overall and first in the Mount Pleasant/Charleston market.

CresCom Bank CresCom Bank has opened offices in Socastee at 4506 Highway 707, Myrtle Beach, and Cane Bay, at The Market at Cane Bay, a retail shopping complex adjacent to Cane Bay Boulevard and Highway 176 in the Charleston area.

First Reliance Bancshares, Inc. Florence, S.C.-based First Reliance Bancshares Inc. disclosed in a filing with the US Securi es and Exchange Commission in mid-August that it will deregister its common stock, which should result in “significant” cost savings. First Reliance, the parent of First Reliance Bank, expects to complete the deregistra on process during the fourth quarter.

First Ci zens Shareholders of Raleigh, N.C.-based First Ci zens BancShares Inc. and Columbia -based First Ci zens Bancorp. Inc. have approved the proposed merger of the two companies.

The deal, under which First Ci zens Bancorp will merge into First Ci zens BancShares, is expected to close in the fourth quarter, subject to closing condi ons.

18

Greer State Bank Greer State Bank has opened a new mortgage loan produc on office in Clemson in the newly constructed Town Center in Patrick Square. This is the bank’s first office located outside the Greer and Taylors area.

The Ci zens Bank The Ci zens Bank, headquartered in Olanta, has opened a loan produc on office at 125 S. Academy Street in Kingstree. The new office will be headed by long me Kingstree banker Alan K. Chandler, a former chairman of the SCBA Young Bankers Division.

United Community Banks, Inc. Blairsville, Ga.-based United Community Banks Inc., the parent of United Community Bank, has completed its acquisi on of nearly all assets of Business Carolina Inc., a specialty SBA/USDA lender based in Columbia, according to a US Securi es and Exchange Commission filing.

Banking News

Redden Named to Head Regional Banking in Carolinas Wells Fargo recently named F. Richard “Rick” Redden III the lead region president for Regional Banking in the Carolinas.

Redden succeeds Stan Kelly, who had led the Carolinas Regional Banking team since the merger of Wachovia and Wells Fargo.

Kelly re red in Redden August.

Redden will report to Eastern Regional Banking Execu ve Laura Schulte and will be based in Charlo e.

Redden is a 21-year veteran with Wells Fargo and its predecessor, joining Wachovia as a corporate banker in Winston-Salem. He moved to Charles-

ton in 1996 as the senior banker for Commercial Banking. He became South Carolina’s regional Corporate Banking manager in 1997 and has served in various roles as the senior execu ve responsible for commercial banking, business banking, wholesale credit and retail banking across the state. Since 2007, Redden has served as regional president in South Carolina.

Redden served as chairman of the South Carolina Bankers Associa on during the 2012-13 year, and is a member of the SCBA’s board of directors.

“I’m excited about the opportunity to lead regional banking in the Carolinas and work with a dynamic and experienced group of Wells Fargo team members who are commi ed to suppor ng each other, our customers and our local communi es,” said Redden. “I have spent most of my life living in eight

communi es across the two states, so the Carolinas is a special place for me and my family. I look forward to building on rela onships I have with friends, associates and colleagues across North Carolina and South Carolina.”

Redden is an excep onal leader both inside Wells Fargo and in his community, Schulte said.

“He brings a passion for building strong teams and communi es and for pu ng his customers at the forefront of all he does. Rick’s diverse experience will be invaluable as we con nue to work hard to help our customers succeed financially across the Carolinas,” she added.

Redden, a graduate of Appalachian State University and Georgia Tech, serves as chairman of the Economic Leadership Council of the Charleston Regional Development Alliance and sits on Clemson’s Board of Visitors.

Banking Industry Regains Pre-Recession Positive Image

By Rebecca Ri Gallup

in

Americans’ views of the banking industry are posi ve for the first me since 2007, with net posi ve views of banking increasing 18 points from 2013, according to a Gallup poll.

Each year since 2001, Gallup has asked Americans to rate 24 different business sectors and industries on a five-point scale ranging from “very posi ve” to “very nega ve.”

The net ra ngs are the difference between the posi ve and nega ve ra ngs for each industry, reflec ng Americans’ overall a tudes toward each industry. The most recent data were collected from Aug. 7-10, 2014, as part of Gallup’s annual Work and Educa on poll.

The average net posi ve ra ng across all 24 industries this year is 18, up significantly from previous years. The image of the banking industry remains below the overall average, connuing a pa ern seen since 2007.

Americans’ views of the banking industry worsened from 2003 to 2005. While views of banks then improved and reached a high of 39 in 2006.

Views of the banking industry did not worsen un l 2008 and did not plunge deeply into nega ve territory un l 2009. Many banks suffered financially as a result of falling home prices as some were heavily involved in offering mortgage loans perceived as risky, and thus closed or faced significant hardship in 2008 and 2009.

This may have been a key reason why Americans’ image of the banking industry overall went downhill.

The large drops in the posi ve image of banking in 2008 and 2009 reflect the industry’s close e to the recession, which was precipitated in part because of the mortgage-related housing bubble.

U.S. government programs like TARP (Troubled Asset Relief Program) provided government money to banks, credit markets and the automobile industry to stabilize these markets during the recession.

At the me, many Americans were against this program, claiming it would waste taxpayer dollars, which may have nega vely affected views of the industries - like the banking and real estate industries - that benefited from the program.

However, recent reports indicate that TARP did help stabilize the economy, with the government recovering much of its investment.

Results for the Gallup poll are based on telephone interviews conducted Aug. 7-10, with a random sample of 1,032 adults, aged 18 and older, living in all 50 U.S. states and the District of Columbia.

Each industry was rated by a randomly selected half sample of respondents. The sample sizes for each industry are approximately 500 na onal adultsor results based on the total sample of na onal adults.

The margin of sampling error is plus/minus 5 percentage points at the 95 percent confidence level.

19

Personal Transac ons

Plemmons

Morrow

Carolina Alliance Bank Rita Plemmons has joined been appointed by Carolina Alliance bank to the posi on of assistant vice president, loan opera ons director in the ins tu on’s Spartanburg office.

CertusBank, NA David Hoppenworth was recently appointed chief credit officer by CertusBank, NA. CresCom Bank CresCom Bank has promoted Tiffany Kiminski to data center manager at its opera ons center in West Ashley.

David Morrow, the president and CEO of CresCom Bank, was appointed to Clemson University’s Board of Visitors.

First Ci zens Brendan Farran has joined First Ci zen’s Upstate area Commercial Banking Group as a commercial rela onship manager.

Othniel Laffi e has been promoted to rela onship manager of First Ci zens’s Augusta Road office in Greenville.

Erin McCaskill, vice president with First Ci zens, was recently named one of 12 women recognized as 2014 Influen al Woman in Business by the Columbia Regional Business Report.

Bret Whi ng has been selected to serve as retail sales manager for First Ci zen’s Ridgeway branch.

Tyler Wilhoit has been named to serve 20

Baird

as retail sales manager for First Ci zens’ Oak Ridge office in North Charleston.

First Ci zens recently named Michael Wooles as its Anderson city execu ve.

First Ci zens has named 12 business leaders to it Greenwood Advisory Board: D. Welborn Adams, partner, Tinsley & Adams, LLP; Daniel W. Ball, Ph.D., president, Lander University; Bubba Fennell, re red shareholder, Ellio Davis; Ernest J. McCallum, DMD, orthodon st, McCallum Orthodon cs; Sharon Mulkey, realtor, RE/MAX Realty; J. David Pa erson, president, Pa erson Insurance Group, Inc.; Bonnie M. “Boo” Ramage, CFO, Greenwood Gene c Center; Mark Riddle, president, Hunter & Associates; James S. Riley, president, Emerald Ink & S tches, LLC; Bradford M. Russ, president, Gary Russ Chevrolet; Kevin Rust, MD, partner, Greenwood Ear, Nose & Throat; and Michael Snider, DMD, Cambridge Dental of Greenwood.

Greer State Bank Larry Compton has joined Greer State Bank as vice president and mortgage loan officer.

Greer State Bank has named Art Wray as its vice president and mortgage loan officer for the ins tu on’s new Clemson office

Independence Bancshares Gordon A. Baird, chief execu ve officer of Independence Bancshares, has been elected to join the board of directors of ABA Card Solu ons, Inc., an affiliate of the American Bankers Associa on.

Campbell

Thornhill

NBSC NBSC has appointed Nephron Pharmaceu cals Corp. CEO Lou Kennedy to its South Carolina Board of Directors.

Palme o Heritage Bank Amy Campbell has been appointed assistant vice president of mortgage opera ons by Palme o Heritage Bank.

William Thornhill has been named senior vice president and director of mortgage lending by Palme o Heritage Bank.

South Atlan c Bank Candace L. Cherry, Melissa K. DownsHigh and Barbara W. Marshall have been promoted to senior vice president

by South Atlan c Bank. Cherry is the bank’s corporate liaison, working with execu ve management and the board of directors; Downs-High serves as the bank’s controller; and Marshall is the ins tu on’s director of marke ng.

Mary Jo Rogers has been named execuve vice president and Grand Strand regional execu ve at South Atlan c Bank.

Southern First Bank Chris Aus n and Carter Weston have joined Southern First Bank as a mortgage execu ves.

South State Bank South State Bank has promoted Ka e Doyle Hane to senior vice president in its Orangeburg market.

Alena Houston Fleming was recently promoted by South State Bank to senior

Personal Transac ons

Marshall

Rogers

vice president for the Santee and Elloree markets.

Weston

Mikell H. Richards has been named vice president and mortgage loan officer by South State Bank.

TD Bank, NA Michael R. Renault, regional vice president for TD Bank, NA, in the Lowcountry, has been selected to par cipate in the Riley Ins tute at Furman’s Diversity Leaders Ini a ve.

SunTrust SunTrust Bank has promoted Mark Lattanzio to Charleston region president, for the Lowcountry and all of eastern South Carolina.

The Ci zens Bank Bobby Dukes has been promoted to Banking Officer by The Ci zens Bank.

Dukes is located in the Bank’s Turbeville office, where he also serves as security

Richards

Halfacre

officer, providing security training to employees at all branches.

Wells Fargo Robert Halfacre has joined Wells Fargo as senior business banking rela onship manager and market president for Pickens and Oconee Coun es.

Trip LaCoste has been named a senior business banking rela onship manager in the Upstate by Wells Fargo.

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Feature Depositories bank in 1957 and was acquired by First Ci zens in 1975.

Ini ally, cash depositories operated on the concept of full-reserve banking, meaning ins tu ons were required to keep the full amount of each depositor’s funds in cash, ready for immediate withdrawal on demand.

Cash depositories, as a rule, u lized rented facili es and maintained small staffs, which enabled them to exist with a small amount of earning assets.

Service charges were made to customers to defray opera ng expenses. There was a tendency for exchange charges to be higher in place where there was no compe on from banks.

They were located all across South Carolina, including some of the state’s smallest communi es, such as Clio, Prosperity, Salley and Swansea.

In Manning, residents saw their town go from five banks to none overnight, according to William “Bill” Buyck, the chairman and chief execu ve officer of the Bank of Clarendon.

“A er Mr. Roosevelt imposed a banking holiday, none of Manning’s five banks were allowed to reopen, so suddenly we didn’t have a single bank,” Buyck said. “It made it extremely difficult because suddenly no one had any ready access to cash or coin.”

Seeing the need for financial services in Manning, Buyck’s future father-in-law, Francis C. Reedy, a Clarendon County banker, and a orney Taylor H. Stukes, who would later serve as chief jus ce of the S.C. Supreme Court, formed one of the first cash depositories in South Carolina, called the Clarendon Cash Depository, in 1932.

“It proved a great benefit to the people of Manning because otherwise they would have been forced to drive 25 miles to the nearest bank s ll opera ng, the Na onal Bank of South Carolina, in Sumter, to get money,” Buyck said.

Banking at its Most Basic Star ng a cash depository required a minimum cash capital of $2,500. Ac-

‘A er Mr. Roosevelt imposed a banking holiday, none of Manning’s five banks were allowed to reopen, so suddenly we didn’t have a single bank.’

– William

O. ‘Bill’ Buyck Sr.

Chairman Bank of Clarendon cording to original legisla on, depositories were to receive non-interest bearing demand deposits which they were obligated to hold in the form of actual cash, deposits with Federal Reserve Banks or member banks, or United States government obliga ons.

The law permi ed the forma on of only one depository per community, forbade control by a bank and provided for state supervision.

Depositors were to be paid in cash, if it was available; otherwise they might be paid in securi es at their cost price.

The arrangements were reminiscent of the early days of banking in England when goldsmiths held the funds of customers for safekeeping, though banking developed only when the goldsmiths began to lend these funds, according to a 1941 report by the New York-based American Economists Council for the Study of Branch Banking.

Over the next couple of years, state law was amended to permit loans to be made with the wri en consent of the depositor, for a brokerage fee, and to a borrower selected by the depositor. In addi on, permission was given for the payment of interest.

Cash depositories served a real need because they were nearly always located in small communi es. However, there was never enough volume to provide them with a large amount of capital.

Borrowers seeking significant capital

were forced to turn to other sources, such as agricultural credit agencies or non-local sources.

S ll, between mid-1932 and mid-1937, more than four-dozen cash depositories were organized, and by the end of 1940, there were 41 cash depositories s ll in opera on, with assets of more than $4.2 million, according to the American Economists Council for the Study of Branch Banking.

During the 1940s and ‘50s, most were converted into state banks, while a handful of others were absorbed by new or exis ng banks.

In all, 43 cash depositories converted to banks between the 1930s and 1970.

These included the following, which survive today; •

•

• • •

•

•

The Bank of Clarendon, started in 1932 as the Clarendon Cash Depository; Anderson Brothers Bank, opened in 1933 as Anderson Brothers Cash Depository; Arthur State Bank, founded in 1933 as the Arthur Depository; Carolina Bank, begun in 1933 as the Lamar Cash Depository; The York Cash Depository, organized in 1934 and now known as the Bank of York; The Bank of Greeleyville, set up in 1935 as the Greeleyville Cash Depository; and The Ci zens Bank, launched as the Olanta Cash Depository in 1939.

In addi on, Allendale County Bank, which was taken over earlier this year

by Palme o State Bank, began in 1933 as the Fairfax Cash Depository.

The last South Carolina cash depository was located in the Grand Strand.

In October 1970 the Georgetown Cash Depository converted and changed its name to the State Bank of South Carolina.

A few months later, it was acquired by First Ci zens, concluding South Carolina’s cash depository movement.

23

Bankers School

S.C. Bankers School Sees Successful Year, Graduates 39

T

hirty-nine students graduated from the 53rd annual South Carolina Bankers School at Lander University in Greenwood this past July, bringing the ins tu on’s total number of alumni since incep on to nearly 2,800.

In all, 135 first-, second- and third-year students a ended SCBS from July 13-18, with 31 ins tu ons represented, including banks and thri s, along with Farm Credit banks and the Federal Reserve Bank of Richmond’s Charlo e office.

They were taught by 25 instructors, including many South Carolina bankers who were themselves graduates of the Bankers School.

“I am very pleased with the outcome of the 2014 South Carolina Bankers School,” said Kevin Lindler, a senior vice president with First Ci zens and chairman of the 2014 S.C. Bankers School.

“The increased enrollment and overall bank par cipa on reflects the value the school delivers.

“We are fortunate to have strong leadership in our board, course coordinators, teachers and director,” he added.

24

“It was an honor to serve as chairman and I look forward to the school’s connued success.”

During the program, graduates completed more than 90 hours of classroom instruc on, including lectures and workshops on a wide array of banking topics, and successfully completed a series of home-study problems.

“This year marked the first in which we went digital; the instructors’ manuals were all online and accessible through an applica on developed by the SCBA,” said Teresa Taylor, SCBA execu ve vice president and Bankers School director.

“It made the Banker’s School experience easier for everyone.”

Graduates also par cipated in the ABA’s BankExec Financial Simula on during their final year. Two teams of gradua ng students were recognized for the top-performing “banks” in the BankExec simula on compe on.

The winning teams were “Walkallovaya Bank” and “FAOL Bank.”

“Walkallovaya Bank” was made up of Derek Raper of Wells Fargo; Kimberly Cordone, Wells Fargo; Pam Bonne e,

South State Bank; Jeanie Roberts, The Palme o Bank; and Rivers Anderson, Anderson Brothers Bank.

“FAOL Bank” featured Jammie McDonald of First Ci zens; Tammy Doyle, ArborOne Farm Credit; Jill Brownfield, South State Bank; Ashley Corley, Park Sterling Bank; and Brian Ferguson, Coastal Carolina Na onal Bank.

Jim Hamner of South State Bank was recognized with the Lillie H. Magalis Award, given to the third-year student with the highest cumula ve average.

The award includes a s pend to cover the cost for the first year’s tui on at the Graduate School of Banking at LSU. Finally, the third-year class raised nearly $9,000 for scholarships, money that will be awarded to children of employees of SCBA-member banks.

The 2015 session of the South Carolina Bankers School will be held July 12-17 at Lander University under the leadership of David Keller of Southern First Bank.

For more informa on, please contact Teresa Taylor at 803.779.0850, or through email at teresataylor@scbankers.org.

FAOL Bank members, from le : Ashley Corley, Tammy Doyle, Jammie McDonald, Jill Brownfield and Brian Ferguson.

Walkallovaya Bank members, from le : Rivers Anderson, Pam Bonne e, Kimberly Cordone, Jeanie Roberts and Derek Raper.

BankExec Simula on Group A Winner “FAOL Bank”

BankExec Simula on Group B Winner “Walkallovaya Bank”

Jammie McDonald, First Ci zens, Florence Tammy Doyle, ArborOne Farm Credit, Conway Jill Brownfield, South State Bank, Columbia Ashley Corley, Park Sterling Bank, Greenwood Brian Ferguson, Coastal Carolina Na onal Bank, Myrtle Beach

Derek Raper, Wells Fargo, Columbia Kimberly Cordone, Wells Fargo, Spartanburg Pam Bonne e, South State Bank, Orangeburg Jeanie Roberts, The Palme o Bank, Laurens Rivers Anderson, Anderson Brothers Bank, Mullins

Bankers School

Brant Retires from SCBS After 30 Years A er 30 years of service on the board of the South Carolina Bankers School, Jim Brant has stepped down.

Brant, with South State Bank in Columbia, joined the SCBS board in 1985, served as its chairman during the 199091 year and was a Brant course coordinator from 1993 through this session, which ran from July 13-18.

“Jim was an icon at the school,” said

SCBA Execu ve Vice President Teresa D. Taylor. “He put his heart and soul into the school and was instrumental in making it what it is today.”

As course coordinator for general banking and support, Brant developed the curriculum in that area, helped select instructors and sat in on classes to gauge progress.

“Jim’s support over the years has been invaluable and we owe him a big ‘thank you,’” Taylor said. “There’s no doubt that we’re going to miss him very much.”

Clockwise from top le : BankExec team members review results; Cameron Freeman, Bank of Travelers Rest, Ka e Hubler, South State Bank, Cindy Hansen, Pinnacle Bank of SC, and Charles Smits, Southcoast Community Bank, run for class office; Terrance Herrio , The Conway Na onal Bank, during the scholarship cornhole tournament; Art Seaver, Southern First Bank, Glenn Buddin, Blue Ridge Bank, Sharon Bryant, First Ci zens, and Larry Miller, Independence Na onal Bank, with moderator Kevin Lindler, First Ci zens, during the CEO panel; Trish Springfield, The Palme o Bank, teaches the Sales Culture Process; SCBA Chairman Kevin Lindler presents Jim Hamner, South State Bank, with the Lillie Magalis award.

25

Feature

Bank Services Remain Terrific Value for Consumers

T

he majority of Americans – 62 percent – pay nothing at all for bank services such as checking account maintenance and ATM access, according to a recent survey by the American Bankers Associa on.

Some 74 percent of bank customers spend $3 or less in monthly fees –less than the cost of a gallon of gas.

“Banking services are a great value for consumers, and bank customers have more choices than ever before,” said Nessa Feddis, ABA’s senior vice president and deputy chief counsel for Consumer Protec on and Payments.

The annual survey of 1,000 U.S. adults was conducted for ABA by Ipsos Public Affairs, an independent market research firm, Aug. 7-12, 2014.

When asked “How much do you es mate you spend on fees for banking services each month, such as fees for

‘Banking services are a great value for consumers, and bank customers have more choices than ever before.’

– Nessa

Feddis Senior Vice President American Bankers Associa on checking account maintenance, ATM use and so forth?,” consumers provided the following responses: • 62 percent said they pay nothing (55 percent in 2013); • 12 percent said $3 or less (10 percent in 2013); • 7 percent said $4 to $6 (8 percent in 2013);

•

3 percent said $6 to $9 (4 percent in 2013); • 7 percent said $10 or more (14 percent in 2013); and • 9 percent were unsure (9 percent in 2013).

Notably, the number of people who said they pay nothing in bank fees increased 7 percent in the last year, while those who reported paying $10 or more per month decreased 7 percent over the same period.

“The financial marketplace is compe ve and consumers are in control,” said Feddis. “These survey results reinforce that bank customers understand their op ons and have become adept at managing their finances to easily avoid paying fees.”

The ABA has highlighted seven ps to help consumers reduce banking costs: • U lize free checking and savings accounts. Many banks s ll offer them; shop your own bank first; • U lize direct deposit. Many checking accounts are free when you use direct deposit; • Keep a minimum balance. Consider keeping a small amount to pad your account. This helps to avoid monthly fees and accidental overdra s; • Keep mul ple accounts at your bank. Many banks are looking at the en re customer rela onship and may offer free services if you maintain both checking and savings accounts with them, for example; • Use your bank’s ATMs and reduce the use of foreign ATMs. Avoid fees by using ATMs owned by or affiliated with your bank. If you must use an ATM not affiliated with your bank, take out larger withdrawals to avoid having to go back mul ple mes. Consider the cash-back opon at the grocery store; and • Don’t spend more money than you have. Keep track of transac ons and account balances to avoid overdra fees, which is easier and easier to do with features such as mobile banking apps.

27

Good Samaritans $100,000 for the estabAnderson Brothers Bank lishment of the South Anderson Brothers Bank State Bank Center for donated $1,000 to WR SafYoung Entrepreneurship fold Community Resource at Bethesda Academy in Center in Bri ons Neck.

Savannah. The Center, Bank execu ves Johnny in conjunc on with Floyd and Susan Grant Bethesda’s work-study made the presenta on to curriculum, offers studMarion County Councilies in principles of sound man Tom Shaw, along with business development, Charles Dozier and Johnny financial management, Graves of Bri ons Neck. and integrity in the workThe WR Saffold Complace to the students of munity Resource Center Bethesda Academy. is open year round to “Bethesda graduates serve the southern part of Marion County. This From le : South State Bank officials Holden Hayes, Eula Parker and John Helm- will possess a sound ken, with David Tribble, president of Bethesda Academy, and Keith Pynn, direc- understanding of their dona on will go toward tor of Bethesda’s work-study curriculum. poten al role in the busiitems needed for renovaness community, which on to the center and will support their decisions for life a er offices par cipated in the Greenville provide stability for future economic Bethesda,” said David Tribble, president YMCA’s Camp Readers Program Book growth for the community. of Bethesda. The program, developed Drive and collected over 378 books for First Reliance Bank

by Bethesda and South State, consists children 5k–12th grade.

First Reliance Bank raised $20,000 for of curriculum that will teach students The Greenville Y is one of 100 pilot the American Cancer Society this year. financial literacy, introduce the work YMCA’s in the U.S. in 2014 to offer the Led by community development officer enterprises of Bethesda from a business Youth Readers Program Day Camp and Joan Billheimer, First Reliance’s Relay perspec ve, discuss the free enterprise Residen al Camp.

For Life Team finished second in FlorThe goal of Camp Readers is to encour- system and support students to work ence County in terms of fund-raising. through a business planning process. age each child to read for a total of 30 “Several of our employees are cancer The work-study por on of the program minutes per day as part of the daily survivors and many of our employees will grade students on their actual labor curriculum. have family and friends who have had in the workplace and students will build Emily Dean, South State Bank senior cancer,” said Chief Execu ve Officer Rick vice president, serves on the Metro a por olio of their work while in the Saunders. “Our company truly wants program. The goal is to have every stuBoard of the YMCA and organized the to make a difference by suppor ng this dent graduate knowing what it takes to bank’s book drive. cause that has affected so many people run a business – integrity, responsibility, including our own.” accountability, cri cal thinking – as well South State Bank recently donated Billheimer, a 13-year cancer suras knowing how to write and implevivor, begins planning fundraising ment a business plan. ac vi es early each year. Ac vi es “Entrepreneurship, which can include a buffet, a live auc on and only flourish from a sound finandancing. There are several other cial literacy base, is at the heart of smaller ac vi es that Billheimer our bank and this partnership with coordinates which contribute to the Bethesda is a natural fit,” said John overall fundraising.

C. Helmken II, South State Bank “We are proud to have raised Savannah regional execu ve and $20,000 for the American Cancer vice chairman of Bethesda’s Board Society,” she said. “We hope it helps of Governors. fund research that will help more “Small business is what helps keep people have more birthdays!”

South State Bank’s Tammy Morton, middle le , and our communi es strong and learning these principles early will be a Nicole Higgins, middle right, are seen with YMCA South State Bank employees who are picking up books collected by the great asset to Bethesda graduates,” bank’s Greenville-area offices.

South State Bank’s Greenville area he added.

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

2015 Young Bankers Division Annual Conference

Save the Date

March 6-8, 2015 The Boardwalk Inn, Wild Dunes, S.C.