Palmetto Banker Winter 2014

Winter Issue 2014-1

South Carolina Bankers Associa on

Palmetto Banker

Hugh Lane Jr.: Continuing a Legacy of Banking; Continuing a Legacy of Community Building

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 Art Seaver, Jr. Southern First Bank, Greenville Chairman-Elect H. Blake Gibbons, Jr. The Ci zens Bank, Olanta First Vice Chairman David M. Lominack TD Bank, N.A., Greenville Treasurer Cur s A. Tyner, Sr. Heritage Community Bank, Hartsville Immediate Past Chairman F. Richard “Rick” Redden, III Wells Fargo, Charleston

Mulvaney Talks About Plight of Today’s Bankers Page 8

Curt Eva Takes Over as President at Oconee Federal Page 23

President’s Message

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Hugh Lane: Building a Bank; Building a Community

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SCBA Staff President and CEO Fred L. Green, III

Born with Banking in His Blood

Green Tes fies Before Congressional Panel

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Execu ve Vice President, CFO/BankPAC Treasurer Donna S. Taylor

Young Bankers Conference Preview

12

Execu ve Vice President, Employee Benefit Trust/ South Carolina Bankers School Teresa D. Taylor

Calendar

12

Senior Vice President, Conven ons/Conferences E. Anne Gillespie

7

Highlights from 2014 SCBA Legisla ve Recep on 13 2014 Legisla ve Update

15

Unraveling the New Securi es Regula ons

17

Vice President, SCBA Services, Inc. Carolyn E. Laffi e

SCBA Recognized by United Way

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Director, Adver sing & IT M. Caroline Sheorn

SCBA Members Respond to BankPAC Campaign

20

Administra ve Assistant Bonnie E. Nelson

Execu ve News

22

Personal Transac ons

24

Bank News

30

New Associates Members

32

Good Samaritans

34

Senior Vice President, Legisla ve & Regulatory A. O’Neil “Neil” Rashley, Jr.

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 Cover photo: The Bank of South Carolina founder and Chairman Hugh Lane Jr., second reserves the right to refuse copy. With the excep on of official announcements, the SCBA disclaims responsibility from le , with management team, from le : Chief Financial Officer Sheryl G.Sharry, President and Chief Execu ve Officer Fleetwood S. Hassell and Execu ve Vice President for opinions expressed and statements made in ar cles Douglas H. Sass. Photo by Zach Sykes/Octagon Solu ons. published in the Palme o Banker.

Jason Caskey, CPA Financial Services Practice Chair

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President’s Message

Standing Up for Banking an Ongoing, Essential Task

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hether you’re a CEO, middle manager or a lesstenured employee, chances are good that you’ve worked on a project of one sort or another.

It could involve complex opera ons such as expansion into new markets or rolling out new products, or more straigh orward such as upgrading a computer system or ensuring your company makes the best use of social media.

If you’ve been involved with projectsolving for any amount of me, you also know that there is a difference between shortterm and longterm projects.

The former usually take, at most Green a few weeks to complete, but the la er can be much longer in dura on, las ng years in some cases.

When I joined the SCBA two years ago, one long-term project our board asked us to focus on was to enhance banking’s overall image among South Carolinians.

This wasn’t because South Carolina bankers had done anything par cularly wrong, but because the overall na onal percep on of the financial services industry had been damaged by the ac ons of a few rogue individuals in money-lending centers outside the state.

I knew this would be a very long-term project because changing public percep on is never a simple task.

Moving the needle takes me, perseverance and a willingness to make one’s voice heard again and again.

With all that, I’d like to update you on our progress: • As many of you may know, late last year I traveled to Washington, D.C., at the behest of Rep. Tom

Rice, R-Myrtle Beach, to tes fy before the House Small Business Subcommi ee on Economic Growth, Tax and Capital Access.

My message was clear: Banks are ready to meet loan demand from small businesses, but economic uncertainty and cascading regulaons are making it more difficult to lend.

Like many of you, I’ve heard the argument that banks simply aren’t lending money and that has been a contributing factor in the ongoing economic malaise.

One of my key goals in traveling to our na on’s capital was to make it clear to legislators and other policy makers that while lending levels remain low, it’s due to a lack of confidence on the part of small-business owners, not banks’ unwillingness to lend.

• Another step is a community outreach effort we’ve undertaken.

We’re wrapping up the crea on of a brochure that will serve to educate South Carolinians – parcularly those in the legisla ve, media, and business arenas – about banking’s significance to the state.

By quan fying what our industry means in terms of jobs, community involvement, non-profit giving, educaonal giving and financial literacy outreach, we can help those outside the industry be er understand banking’s impact is more than taking deposits and making loans.

• Since 2012, we have been successful in our efforts to boost our media profile, both through tradional and social media. We’ve reestablished rela onships with the state’s major news publica ons and have again become a go-to source for reporters seeking comments on banking-related news.

We have adapted to new technology, employing such tools as Facebook and Twi er regularly to showcase events,

share news stories, and update members and non-members about SCBA seminars and conferences.

• We have stood up and taken charge when necessary. Most notably was the South Carolina Department of Revenue database breach, when we assisted state government officials and helped make it possible for our banks to get details on compromised accounts, to enable them to monitor the la er for poten al fraud.

These ac ons are just the beginning.

Our goal of bolstering the image of South Carolina’s banks isn’t one that will be accomplished in the next six months or even the next year.

In fact, it will be an endless endeavor,

“We will need to be vigilant in order to protect our industry’s solid reputa on and highlight the good things that bankers do.” as the SCBA, and you, our members, will have to work both proac vely and reac vely to overcome the challenges that come our way.

Some may see this as a project without an end; I choose to view it as a task that can reap rewards on a regular and ongoing basis.

Yes, we will need to be vigilant in order to protect our industry’s solid reputa on and highlight the good things that bankers do.

But by doing so we’re underscoring why South Carolina bankers have for many decades been regarded as strong and dependable stewards of their communi es. It’s a legacy very much worth protec ng.

(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

Lowcountry Leader Continues to Build on Long Legacy began his career at Ci zens and Southern Na onal Bank of Georgia, spent a year with Chemical Bank in New York, then returned south to join Ci zens and HARLESTON – Hugh Lane’s defiSouthern Na onal Bank of South Carolini on of a community bank is na, also known as C&S of South Carolina. nothing if not straigh orward: Lane began The Bank of South Carolina “I once had a professor from the Citadel a er C&S of South Carolina was acquired ask me what cons tuted a community in 1986. bank,” said Lane, founder of The Bank of Leading a group of 21 organizers, Lane South Carolina. “I told him a community helped raise $10.6 million bank is a bank where the to launch The Bank of South president’s office is on the Carolina in February 1987. first floor.”

The bank has realized anMore than a quarter cennual profits every year since tury a er Lane helped start its forma on and despite the ins tu on, his Charlesnearly 30 years of success, ton office remains on the con nues to follow the ground floor, even though same game plan, according he relinquished the tles of to bank President and Chief president and chief execuExecu ve Officer Fleetwood ve officer in 2012. Lane, Hassell. who remains the chairman, “We built the bank one acs ll relishes the day-to-day count at a me over the past contact with customers and 27 years,” Hassell added. employees that his office “People are going to stay near the bank’s front enwith you over the long haul trance affords. if you provide the services “Banking is all about the they want and need. That’s rela onships and it’s hard to the way Hugh did it from build rela onships if you’re day one, and that’s the way shut up in an execu ve ofwe’re going to con nue.” fice away from everyone,” Beginning this year, Lane Lane said. has dialed back his workload There are community just a bit. He’s now workbanks and then there is ing four days a week, rather Lane’s community bank, at than a full five. But the lesleast according to those who sons of the past quarter cenwork at The Bank of South tury plus are evident with Carolina. those who work with him “I believe everyone here is both inside the bank and recognized for the contribuwithin the community. on they make, and that’s “For years, Hugh has been something that started with Hugh,” said Doug Sass, ex- Hugh Lane talks banking, leadership and community building inside The the role model of “banker as ecu ve vice president and Bank of South Carolina’s main office at 256 Mee ng Street in downtown a community leader,” said Charleston.

Rick Redden, South Carolina senior lending officer for the president for Wells Fargo and Charleston-based ins tu on. immediate-past chairman of the South “He’s created a family here through this deal last year,” Lane said.

Lane, who earned a degree in Econom- Carolina Bankers Associa on. bank.”

Today, The Bank of South Carolina is ics from the University of Pennsylvania, See Lane, Page 28 a $340 million ins tu on with 80 em- comes from a long line of bankers. He Kevin Dietrich Palme o Banker Editor

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ployees and offices in Summerville, Mt. Pleasant and West Ashley, besides its headquarters on Mee ng Street in Charleston. The bank has come a long way from its first days.

“When we opened in 1987, we were the 12th bank in the city. “While today there are 35 banks serving Charleston, we became the oldest bank headquartered in Charleston a er the First Federal-SCBT

Looking Back

Lane’s Banking Roots Stretch Back to Reconstruction ville in 1957 and giving the bank offices in each of the Palme o State’s four largest ci es. ne could say banking is in Hugh Hugh Lane Sr. was elected chairman Lane Jr.’s blood. of C&S Na onal Bank of South Carolina The founder of The Bank of in 1960. The ins tu on con nued to South Carolina, Lane comes from a long grow as offices were opened in 10 other line of financiers. His great-grandfather, South Carolina ci es and towns.

In 1969, the C&S Corp. of South CaroRemer Y. Lane (1826-1917), a merchant, lina was formed as a bank holding comestablished a private bank in Valdosta, pany, and Lane moved up to chairman Ga., a er the War Between the States. of that en ty. By the me Hugh Lane Sr. Remer Lane’s son, Mills B. Lane (1860re red in 1974, C&S Na onal Bank of 1945), Hugh Lane Jr.’s grandfather, South Carolina had 73 branches in 24 began working for his father at the bank ci es and deposits of $600 million. as an errand boy, eventually moving up Hugh Lane Jr. began his own career at to cashier.

C&S Na onal Bank of Georgia in Atlanta In 1888, Remer and Mills Lane foundin 1972. The following year he joined ed the Merchant’s Bank of Valdosta.

Chemical Bank in New York, working Mills Lane then moved from the southin the ins tu on’s Bond, Leasing and central part of the state to the coast, Interna onal departments. In 1974, he becoming vice president of the Ci zens returned to South Carolina to accept a Bank of Savannah in 1890 and president posi on with C&S of South Carolina as 11 years later. Mills Lane later bought city execu ve in Sumter. He also began stock in the largest bank in town, the serving on the board of C&S of South Southern Bank of Savannah, which led Carolina at this me. to the 1906 merger that resulted in In 1976 Lane returned to Charleston the crea on of the Ci zens and Southto head C&S Na onal Bank’s Southern ern Bank. Mills Lane became the first Region, with responsibility for some 300 president of Ci zens & Southern Bank employees. of Georgia.

When C&S Na onal Bank of South Between 1912 and 1926, the Ci Carolina was acquired zens and Southern

by C&S Na onal Bank Bank became a of Georgia in 1986, statewide power shortly a er interthrough acquisistate banking became ons and new legal in South Carobranches, expandlina, Lane resigned to ing throughout organize The Bank of Georgia. Among South Carolina. its moves was the Lane spent 25 years 1922 purchase of as president and CEO Atlanta’s Central of The Bank of South Bank and Trust Carolina, before stepCorp., the bank ping down in 2012. founded by CocaToday, he con nues Cola co-founder to serves as chairman Asa Griggs Candler. of the bank and its In 1927 Ci zens $340 million parent, and Southern Bank The Bank of South became a na onal Postcard showing interior of old Ci zens and Southern Bank in Savannah, where Hugh Carolina Corp. bank, and a year Lane’s grandfather helped build the C&S empire.

Kevin Dietrich Palme o Banker Editor

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later the Ci zens and Southern Holding Co. was formed to hold stock in affiliated banks. Later, Ci zens and Southern Bank would open branches across the Savannah River, in Charleston, Columbia and Spartanburg. Mills Lane re red as president and became chairman of C&S’s board in 1928.

Mills’ son, Hugh Lane Sr. (1914-2005), began his career with Albany Exchange Na onal Bank in Albany, Ga. With an older brother, Mills B. Lane Jr., already an execu ve with Ci zens and Southern, Hugh Lane Sr. moved to Charleston in 1937 to become an assistant to Angus E. Bird, then president of C&S in Charleston.

In 1940, Hugh Lane Sr. helped persuade his father and the management of the Ci zens and Southern Holding Co. to create separate banks for Georgia and South Carolina, primarily to give customers in South Carolina their own bank. In 1944, he was named president of the C&S Na onal Bank of South Carolina. It was the second-largest bank in the state, a er South Carolina Na onal Bank, with deposits of more than $60 million.

C&S of South Carolina grew steadily over the years, expanding into Green-

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Feature

Mulvaney Recognizes Regulatory Hardships on Banks

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a be er understanding of TARP, the OCK HILL – South Carolina banking industry as a combina on of Troubled Asset Relief Program, during Congressman Mick Mulvaney glass half-empty, half-full. a visit to Heritage Community Bank foldoesn’t mince words when lowing Mulvaney’s elec on to Congress asked what impact new federal regulaRealist in 2010. ons will have on banks in 2014.

“Our na on’s banking system can’t At the me, Tyner was frustrated “For one thing, I think you’re going to operate as it exists now, within the rules because the bank, which had taken $1.5 see a drama c slowdown in mortgage and regula ons put into place by laws ac vity – I don’t see how there could such as Dodd-Frank,” he said. “Things in million through a TARP program in 2009, a move Tyner described as an “extrabe any other result,” said Mulvaney, the Washington, D.C., don’t get fixed un l extra precau on,” were being stymied second-term Republican who reprethey are broken, and the system that in efforts to repay the money. sents South Carolina’s 5th Congressional is in place today is going to be fixed.

“I sat down with District. “People will Mick and explained need to have more that we wanted to money in order to buy pay the money back homes to comply with over the next year, the new regula ons. but it was proving to They will have to find be extremely difficult money to borrow to due to the regulators,” buy a house.”

Tyner said. “We had Mulvaney is a memour own plan, we had ber of the powerful our own capital to pay House Commi ee on it back, and it was s ll Financial Services, the extremely difficult. We body that oversees had to prove we could the na on’s financial pay it back and that services industry, we should be allowed including the securito pay it back. es, insurance, banking “What ended up hapand housing industries, pening, I later learned, along with the work of is that we were caught the Federal Reserve, South Carolina Congressman Mick Mulvaney has made a name for himself in the middle of a the U.S. Treasury during his three-plus years in Washington, D.C. turf ba le between Department, Securi es regulators and it ended up taking and Exchange Commission and other Ul mately, the pendulum will start financial services regulators. swinging back the other way. I just don’t us over a year and a half to repay the money,” he added.

Mulvaney’s versa le background has know when.”

While frustra ng, the situa on gave helped him comprehend what the A resident of Indian Land in Lancaster Tyner the chance to sit down with Mulrecent onslaught of regula ons – inCounty, Mulvaney caught the a en on vaney, educate him on TARP and explain cluding those associated with Qualiof several Palme o State bankers when how red tape was cos ng his bank, and fied Mortgage, Basel III and a host of he visited the South Carolina Bankers many others, precious me and money. changes connected to the Dodd-Frank Associa on in March 2013, listening to “I believe the visit was an eye opener Act – will entail for bankers across the concerns and answering ques ons. for him. We not only went over our diffiPalme o State.

“He has a wonderful combina on of cul es with TARP, but I opened a drawer The 46-year-old is a graduate of intellectual capacity and real-world and showed him all the regula ons Georgetown University and the Univerexperience, and he’s in Congress for we had to comply with,” Tyner said. “I sity of North Carolina at Chapel Hill Law the right reasons,” said Cur s A. Tyner, believe it helped him understand how School. A er gradua on he prac ced president and chief execu ve officer of Heritage Community Bank in Hartsville. much more difficult things had become law, then ran a family real estate busi“He understands the vital part that for banks, especially community banks, ness and started a small homebuilding banking and community banking plays and the fact that the increase in regulacompany. Mulvaney even owned and in South Carolina and the country.” ons was not just hur ng banks but operated his own restaurant.

Mulvaney said Tyner helped him get borrowers and the economy.”

Mulvaney views the future for the

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Feature

Industry Ally Fred Green, the president and chief execu ve officer of the South Carolina Bankers Associa on, said that he was impressed that Mulvaney, immediately a er being placed on the House Financial Services commi ee last year, called and asked for assistance with introducons to bankers throughout the state, not just those in his district.

“He wanted to learn as much as he could as fast as he could about the issues facing bankers across South Carolina,” Green said. “And there’s no queson that he’s been a great ally to both the SCBA and the industry at large.”

Mulvaney is unlike some of his counterparts in elected office in that he’s not afraid to admit when he doesn’t know answers to ques ons. That may be because he’s rela vely new to poli cs.

His first foray into public service came in 2006, when Mulvaney ran for House District 45, which covered parts of Lancaster and York coun es.

“I was conned into running for the state Legislature by the guy who is now my chief of staff (Al Smith),” Mulvaney jested. “What he didn’t tell me was there’d never been a Republican from that district.”

Two years later, S.C. Sen. Greg Gregory’s unexpected re rement created a vacancy in S.C. Senate District 16, and Mulvaney prevailed in a difficult race.

In 2010 Mulvaney took on a tall challenge by going up against 14-term Congressman John Spra . “I ran because I was so frustrated with the way things were going in Washington,” he said.

“I didn’t expect to win,” Mulvaney added. “In fact, I remember calling my wife one day and asking her, ‘Can I run for Congress?’ and she said, ‘Do you think you’ll win?’ I told her, ‘Not a chance.’

She said, ‘Go ahead then.’”

Spra , first elected to Congress in 1982, was a House tan, having risen to chairman of the U.S. House Commi ee on the Budget, and was the secondranking Democrat on the U.S. House Commi ee on Armed Services, among

“When I turn on CNBC or Bloomberg, I don’t hear anyone discussing what’s happening to mortgage lending, and I don’t understand why.”

– Mick Mulvaney S.C. Congressman other posi ons.

“I never expected to win,” Mulvaney said. “My goal, what I wanted to do, was to debate the health care issue, if nothing else.”

What Mulvaney accomplished was to defeat Spra by a 55-45 margin.

Varied Experience Mulvaney’s experience in the private sector has helped him understand what makes small businesses ck, and how government bureaucracy can hamstring economic growth, par cularly in the financial services industry.

The de of rules and regula ons that have been enacted regarding mortgages, a reac on to the Great Recession, are only going to make things more difficult for banks and consumers, he said, but he’s perplexed by the lack of a enon these changes have generated.

“When I turn on CNBC or Bloomberg, I don’t hear anyone discussing what’s happening to mortgage lending, and I don’t understand why,” Mulvaney said.

“I also don’t understand why my Democra c counterparts aren’t more alarmed about the situa on. It affects their cons tuents just as much as mine.”

Mulvaney is one of approximately five dozen members who sit on the House Financial Services Commi ee.

“It’s a real credit to Mick to have been named to that commi ee, and he’s worked hard to keep up with what’s been going on in the financial services industry,” said Green, the head of the

SCBA. “He regularly talks with us and our bankers throughout the year.”

For the present, Mulvaney’s goals are simple: Effect a slow but steady transforma on through incremental change.

To do that, however, it’s essen al to first lay out the issues and then make the case for each one.

“You cannot win the vote (in Congress) un l you win the argument, and we have not even begun to win the argument on issues such as mortgages,” he said.

One of the problems at present is that so many changes have been foisted upon bankers in such a short span of me that the industry can’t get its arms around the full impact, he said.

Also hindering progress is the current poli cal environment, where a lack of broad poli cal support o en torpedoes even the most prac cal measures.

Outside of finance, Mulvaney pointed to his efforts in last year’s passage of the Water Resources Reform and Development Act. The bill is designed to expedite review processes to keep projects like that which will deepen Charleston Harbor from facing unnecessary delays. It includes measures to reform government bureaucracy, accelerate project delivery and streamline environmental reviews.

It also strengthens oversight, priori zes development of the na on’s water resources and deauthorizes $12 billionworth of inac ve projects, offse ng the costs of new projects in the process.

The Water Resources Reform Act represented a drama c change in how things are done in D.C., according to Mulvaney.

“The projects that will happen as a result of this are not earmarks, and that’s important,” he said. “We want to grow all locally funded projects this way. It has the same net impact of an earmark, but without the poten al abuse of an earmark.”

Mulvaney es mates that the passage of the Water Resources Reform Act will See Mulvaney, Page 15 9

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News

SCBA President Testifies Before Congressional Panel Banks are ready to meet loan demand from small businesses, but economic uncertainty and cascading regula ons are making it more difficult to lend, SCBA President Fred Green tes fied before a Congressional panel last month.

Green, speaking before the House Small Business Subcommi ee on Economic Growth in Washington, D.C., iden fied two key economic challenges facing small businesses: Tax and regulatory uncertainty that causes business to delay growth; and waves of bank regula on that may impede future loan growth.

“Lending levels remain low due to the lack of confidence on the part of smallbusiness owners, not banks’ unwillingness to lend,” he told the commi ee.

The subcommi ee, which is chaired by Rep. Tom Rice, R-Myrtle Beach, heard from five speakers, with Green represen ng the banking industry. Onerous regula ons result in banks having few

SCBA President and CEO Fred Green tes fying in Washington, D.C.

dollars to lend, which is bad news for small businesses looking to expand and add jobs, Green told the subcommi ee.

Green cited Dodd-Frank as an area of

par cular concern for banks, telling the panel that “some rules under DoddFrank, if done improperly, will literally drive banks out of lines of business.”

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Young Bankers Conference

Young Bankers Conference Set for Pinehurst Resort The 2014 Young Bankers Conference will be held March 7-9 at the Pinehurst Resort in Pinehurst, N.C. Last year, nearly 200 bankers, associate members, spouses and guests turned out for the conference, which offers a weekend of fellowship and learning.

“Our conference is an opportunity for young bankers to learn more about the current state of the industry and to acquire leadership skills that will benefit

them both in their bank and their community,” said SCBA Young Bankers Division Chairman Marvin Robinson. “It also includes social ac vi es that provide networking opportuni es to promote personal and professional growth.”

Speakers at this year’s conference include: • Jason Caskey of Ellio Davis will discuss Emerging Trends in the Banking Industry;

•

• •

Pinehurst Resort is one of the South’s most picturesque locales.

Jefferson L. Harralson of Keefe, Bryue e & Woods, will offer insights on bank stock prices, relay bank investors’ key themes and talk about the issues affec ng the industry and the Southeast; South Carolina Superintendent of Educa on Dr. Mick Zais; and Glenda Doles, the former manager of Duke Energy’s Re ree Affairs Division, will discuss the concept of ge ng out of life what you put into it.

The Prayer Breakfast speaker will be Holt Chetwood of Wells Fargo, who’s tled his talk “The Hope of Glory.”

A golf ou ng is scheduled for 12:15 p.m. on Saturday March 8 along with dinner and dancing to the Coconut Groove Band to conclude the weekend’s events.

Your emerging leaders will walk away from the Young Bankers Conference with a wealth of informa on and meaningful relaonships that will last a life me.

Special thanks to this year’s sponsors – we appreciate your gracious support.

Professional Development Calendar February 27, 2014 March 6, 2014 March 7-9, 2014 March 11, 2014 March 12-13, 2014 March 24-26, 2014 April 23, 2014 April 29-30, 2014 May 4-9, 2014 June 15-18, 2014 July 13-18, 2014 September 22, 2014 12

2014 Bank Opera ons Conference 2014 Safety and Soundness Conference Young Bankers Division Annual Conference 2014 Directors and Managers Workshop 2014 Training the Credit Analyst 2014 SCBA Washington Summit 2014 SCBA Credit Conference Inaugural Women in Banking Leadership Symposium 2014 Southern Opera ons and Technology School SCBA Annual Conven on South Carolina Bankers School Scholarship Golf Tournament

Courtyard Columbia Downtown @ USC Courtyard Columbia Downtown @ USC Pinehurst Resort, Pinehurst, N.C. Courtyard Columbia Downtown @ USC Courtyard Columbia Downtown @ USC Washington, D.C. Courtyard Columbia Downtown @ USC City Center Marrio , Charlo e, N.C. UGA Hotel & Conf. Ctr., Athens, Ga. Palm Beach, Fla. Lander University, Greenwood, S.C. Members Club @ Wildwood, Elgin, S.C.

SCBA Legisla ve Recep on

SCBA Legislative Reception Enjoys Strong Turnout More than 500 bankers, legislators and members of judiciary a ended the SCBA Legisla ve Recep on, Jan. 14, held at the Columbia Museum of Art. Among those on hand were S.C. Chief Jus ce Jean Toal, S.C. Sen. Finance Chairman Hugh Leatherman, and S.C. House Ways and Means Chairman Brian

White.

Other notables included former Gov. Jim Hodges, Sens. Wes Hayes and Harvey Peeler, and Rep. Bill Sandifer.

In addi on, there were numerous individuals who serve on the boards of state universi es, lower courts and bankers from across the state.

“The recep on was one of the best I have a ended,” said Boyd Jones of NBSC, a member of the SCBA’s State Legisla ve Commi ee. “Congratula ons on pu ng together one of the best events in Columbia every year. I believe that our elected officials, business people and bankers had a great me.”

Le : Neil Rashley, le , and Fred Green, right, SCBA talk with S.C. Rep. Ralph Norman. Above: Overhead at the 2014 SCBA Legisla ve Recep on at the Columbia Museum of Art. Right: S.C. Sen. Vincent Sheheen chats with SCBA President Fred Green and his wife Mary.

Above le : S.C. Sen. Harvey Peeler, middle, entertains bankers and legislators alike at the 2014 SCBA Legisla ve Recep on. Above right: S.C. Rep. Brian White, middle, talks with Mike Brenan of BB&T, right, and Dorn Smith of The Ci zens Bank. Bo om, far le : S.C. Rep. Rita Allison, middle, with John Poole of Carolina Alliance Bank and wife Lynn. Near le : Nate Barber of SCBT, le , converses with Andy Douglas of Bank of America, and Judge Alison Renee Lee.

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2014 Legisla ve Update

Abandoned Properties, Patent Trolls on SCBA Radar

By Neil Rashley Senior Vice President, SCBA

T

he South Carolina General Assembly reconvened on Jan. 14, 2014 for the second year of its twoyear session and SCBA will have another busy session with many bills affec ng banking. Since it is the second year of the session, for any pending bill to be enacted it must be passed by the June adjournment.

Below is a descrip on of some of the more important bills to track, including SCBA’s two top legisla ve priori es: foreclosure of abandoned proper es and patent trolls.

• S1007: Expedited Foreclosure for Abandoned Proper es South Carolina Rashley is one of the top 10 states with abandoned proper es in foreclosure – ahead of even Georgia and North Carolina. The fact that a state the size of South Carolina is so highly ranked is enough reason to address the problem with the legislature. But the real concern is that these uncontested proper es sit for months on court dockets when they could otherwise be sold and back on the market. This year SCBA has proposed legisla on that will create an expedited foreclosure process for proper es that are cer fied abandoned by the court hearing the foreclosure.

The process involves the foreclosing

party showing to the court that there are indicia of abandonment such as, among other things, vandalism, deteriora ng buildings, or disconnected u li es. Once this has been shown to the court a foreclosure hearing would be held and the property would be set for sale.

The SCBA an cipates expedited process this could reduce the me to sale from 90 days up to six months. Expect to see more informa on on S1007 as the session progresses.

• Patent Trolls: H4629 Another SCBA supported bill is H4629 addresses the problem of patent trolls.

Patent trolls are en es that have ques onable claims to a patent and then send out demand le ers to businesses, including banks, telling them to cease certain cri cal opera ons un l they pay a license fee.

For banks this has o en involved the processes within their ATMs. The “troll” is aware that li ga ng a patent claim can cost the bank more than $1 million; so the bank is now in the difficult posi on of paying the “troll” what can o en be $50,000 for the license or figh ng the claim in court. SCBA’s bill allows the bank to assert that the demand le er is nothing more than a bad faith asser on of a patent claim.

Although this s ll would be a court ma er, the bill is structured to deter these le ers and to keep these companies from li ga ng their ques onable claims. The bill would exempt legi mate patent claims such as those by the original inventors or research universi es.

• Other Bills to Watch:

Public Funds Deposits – S974 amends the public deposits statutes to allow public bodies to deposit their funds into any deposit account to the extent insured by federal law.

Abandoned Commercial Proper es – The S.C. Municipal Associa on has two bills (S375 and H3948) that create a receivership system to manage and dispose of dilapidated commercial proper es. The SCBA previously worked with the Municipal Associa on to exempt proper es in foreclosure or bankruptcy and will con nue to review the bills for any other lienholder issues.

Security Freezes – S148 creates a process that allows certain authorized pares to place a credit freeze on a minor or a mentally incapacitated adult. The SCBA supports S148.

Uniform Acts – Two bills (S343 and S376) propose amendments that many other states have adopted to Ar cle 1 (General Provisions) and Ar cle 7 (Warehouse Receipts and Bills of Lading) of the Uniform Commercial Code. Also, S377 proposes adop on of uniform amendments to the Revised Uniform Limited Liability Company Act. Appraisal Management Companies – The Dodd-Frank Act requires all states to license and regulate appraisal management companies. S349 sets up this licensing and regulatory process in South Carolina and has passed the Senate.

The 2014 legisla ve session will be busy with the many issues that confront South Carolina’s banks. The SCBA will con nue to closely follow and work on these issues throughout the year.

That port is our cket into foreign investment.”

While there’s li le doubt Mulvaney is gaining clout in Washington and has the respect of business leaders in South Carolina, it appears there’s one place he happily takes a back seat – at home.

Mulvaney and his wife Pam are parents to triplets. When asked what was more difficult, taking care of triplets or making

headway in the circus-like atmosphere of Congress, Mulvaney didn’t hesitate.

“Taking care of triplets is much easier than ge ng things done in Washington. For one thing, my wife handles the triplets, and she runs the house as a benevolent dictatorship,” he said with a smile. “I just sit back and let her take care of business.”

- Kevin Dietrich

Mulvaney allow the Port of Charleston to begin upgrading five to seven years sooner than originally planned, adding that the port’s influence on South Carolina can’t be overes mated.

“Every single manufacturer in this state benefits from the port,” he said. “I’ve seen es mates that 40 percent of the jobs created in the past 10 years are related to trade or foreign investment.

15

F O C U S

O N

S O L U T I O N S

Hidden problem loans can lead to big expenses.

Banks today face a growing number of high-

( ( ( ( ( (

risk loans that are hard to identify, but can lead to expensive foreclosures and REO (Real Estate Owned) transactions.

$2.5M

$5M

loan

foreclosed property

$75k in carrying

6% or $300k = $375k + X costs for 6 months in REO costs X in total costs

A single REO transaction can put an unexpected blemish on your balance sheet and result in hundreds of thousands of dollars in carrying costs and foreclosure expenses.

To reduce risk and costs, banks need to spot problem loans sooner, and restructure them or sell assets before foreclosure begins.

Collateral Concentration Report Credit Quality Dashboard

›

›

SNLBanker provides tools to help you minimize surprise foreclosures for a stronger balance sheet and improved performance.

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South Carolina Bankers Association members: Learn more about managing your bank’s NPAs. Contact Julie Jones at 434.951.4419; partners@SNL.com.

Feature

Classification: Unraveling the New Securities Regs

By Bart Smith Performance Trust Capital Partners

O

n Oct. 29 the federal banking agencies released updated guidelines for the classifica on and appraisal of securi es held by depository ins tu ons (OCC Bulle n 2013-28).

Although these guidelines are essen ally an add-on to the revised due diligence requirements that went into effect at the beginning of this year, the changes could have significant implica ons for the way banks assess the quality of their securi es por olio on an ongoing basis.

Under the old classifica on guidelines, if a security was rated in the top four Smith ra ng bands, it was generally considered Investment Grade and was not subject to adverse classifica on. If a security was rated below the top four ra ng bands, it was most o en considered Substandard and it had to be included in the bank’s classified-asset totals.

Under the new classificaon guidelines, ra ngs-based standards have been completely eliminated and banks must now be able demonstrate, without undue reliance on the credit ra ngs, that a par cular security remains Investment Grade a er the ini al purchase period.

The emphasis of this new guidance is squarely focused on credit determina ons that need to be made over the holding period of the asset, rather than just at the me of purchase.

For a security to be Investment Grade, the risk of default must be low, and full and mely repayment of principal and interest must be expected over the life of the asset. To prove

that the risk of loss is low, a bank must conduct regular due diligence to support the Investment Grade designa on as long as the asset is held.

Sound confusing? Let’s look at five key ques ons to be er understand what the guidance is saying.

• What specific securi es are covered by the new guidance?

Like the due diligence requirements issued at the beginning of the year, securies covered by these guidelines include all types of municipal obliga ons, all types of corporate bonds and all types of asset-backed securi es not guaranteed by the U.S. government, which includes private-label mortgage-backed securi es. Essen ally, any security or investment that is not a U.S. government obliga on is subject to some level of due diligence. Alterna vely, all U.S. government obliga ons, including mortgagebacked securi es issued by governmentsponsored en es are not subject to the new guidelines.

• What are the actual requirements for due diligence?

Generally speaking, the due diligence required on an ongoing basis is the

same as that expected at the me of purchase. Under the new guidelines, you need to be able to demonstrate, with some regularity, that you’ve conducted an independent assessment of the credit characteris cs of the security and that you’ve assessed the security’s ability to meet its ongoing financial obliga ons.

The original guidelines for due diligence are included in OCC Bulle n 2012-18, Alterna ves to the Use of External Credit Ra ngs in the Regula ons of the OCC. While the regulatory guidelines may seem costly and me consuming, banks should pause before crea ng overly complex or burdensome compliance systems. There is no need to set the bar beyond your basic needs in an a empt to meet some perceived regulatory expecta on.

Regulatory policy has always suggested that banks supplement their use of credit ra ngs with addi onal research on credit risk, so in many cases your exis ng procedures may already be sufficient. In most cases, a good system will provide analy cal informa on on individual se See Classifica on, Page 21

17

SCBA News

United Way Recognizes SCBA with Pacesetter Award The South Carolina Bankers Associaon was again among a select group of companies and organiza ons recognized by the United Way of the Midlands with the 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. They literally “set the pace” for the upcoming campaign, helping to ensure at least 30 percent of the campaign goal is secured when the campaign kicks off.

To qualify as a pacese er, a company must commit to at least a 10 percent increase in par cipa on/employee giving, and at least one volunteer ac vity.

“The team at the South Carolina Bankers Associa on enjoys par cipa ng in the United Way as it helps make a difference in the community in which we live,” said Anne Gillespie, SCBA Senior Vice President.

Anne Gillespie of the South Carolina Bankers Associa on receives the Pacese er Award from Parke Espy of the United Way.

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Since 1990, CICCAR members have funded more than $250 million in loans, creating 15,000 units in over 300 properties. In return, they receive the benefits of loan growth, CRA credit and the satisfaction of creating “home” for nearly 50,000 people.

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SCBA BankPAC

SCBA Membership Responds to BankPAC Campaign

S

CBA BankPAC, the South Carolina Bankers Associa on’s poli cal ac on commi ee, remains an integral part of the SCBA’s government rela ons effort. In 2013, SCBA BankPAC received contribu ons from 52 member ins tu ons totalling $66,225.

SCBA BankPAC is a non-par san poli cal ac on commi ee that serves to solicit contribu ons from individual bankers in South Carolina for both state and na onal elec ons. BankPAC South Carolina supports candidates for state and federal races through two separate funds: a state PAC fund, which contributes to candidates running for the S.C. Legislature and state cons tu onal offices, and a federal PAC fund, which supports Congressional candidates.

SCBA BankPAC is managed by the SCBA BankPAC Board of Directors, which is made up of a geographically diverse

group of bankers and is chaired by Jack Goe ee, Midlands’ regional president for SCBT. SCBA Execu ve Vice President Donna Taylor serves as treasurer for SCBA BankPAC. The Bankers Associa on’s poli cal acon commi ee uses the funds to back candidates who help promote a strong and compe ve banking system.

BankPAC board members determine which candidates to support by considering the recommenda ons of individuals SCBA members and carefully reviewing the following criteria: • The candidate’s posi on on banking and business issues; • The candidate’s vo ng record, leadership ability and commi ee assignments; and • The probability of the candidate’s success.

SCBA BankPAC contribu ons are cri cal because elec on laws prohibit the use of membership dues for contribuons to poli cal candidates. Funds for contribu ons to candidates must be raised separately from a bank’s membership dues.

“As bankers, we are in a business that depends to a great degree on decisions made by elected officials,” said SCBA President and CEO Fred Green. “The SCBA BankPAC gives bankers a means to support candidates that understand our concerns and will keep issues of importance to us in mind.”

The South Carolina Bankers Associa on would like to thank the below banks, their directors and employees who supported the banking industry by contribu ng to the 2013 SCBA BankPAC Campaign. Your support is graciously appreciated.

2013 BankPAC Honor Roll

Abbeville First Bank, Abbeville Ameris Bank, Columbia Anderson Brothers Bank, Mullins Arthur State Bank, Union Atlan c Community Bank, Blu on Bank of America, Columbia Bank of Clarendon, Manning Bank of Travelers Rest, Travelers Rest Bank of Walterboro, Walterboro Bank of York, York BB&T, Columbia Blue Ridge Bank, Walhalla BNC Bank, Myrtle Beach Carolina Alliance Bank, Spartanburg CBC Na onal Bank, Beaufort Ci zens Building & Loan, Greer Clover Community Bank, Clover CoastalStates Bank, Hilton Head Congaree State Bank, Cayce Cornerstone Na onal Bank, Easley

Countybank, Greenwood CresCom Bank, Charleston Enterprise Bank of SC, Ehrhardt First Ci zens, Columbia First Community Bank, Lexington GrandSouth Bank, Greenville Greer State Bank, Greer Harbor Na onal Bank, Charleston Heritage Community Bank, Hartsville Home Federal Savings & Loan, Bamberg Independence Na onal Bank, Greenville Kingstree Federal Savings & Loan, Kingstree Mutual Savings Bank, Hartsville NBSC, Columbia Palme o State Bank, Hampton Pickens Savings & Loan Associa on, Pickens

Pinnacle Bank of South Carolina, Greenville Provident Community Bank, Rock Hill Sandhills Bank, North Myrtle Beach SCBT, Columbia Security Federal Bank, Aiken South Atlan c Bank, Myrtle Beach Southcoast Community Bank, Mt. Pleasant Southern Bank & Trust, a Division of Georgia Bank and Trust, Aiken Southern First Bank, Greenville Spra Savings & Loan, Chester The Ci zens Bank, Olanta The Commercial Bank, Honea Path The Palme o Bank, Greenville VistaBank, Aiken Woodruff Federal Savings & Loan, Woodruff Yadkin Bank, Gaffney

SCBA BankPAC Board of Directors Jack Goe ee, Chairman First Federal, A Division of SCBT Charleston R. Thornwell Dunlap III Countybank, Greenwood 20

Samuel “Sam” L. Erwin The Palme o Bank, Greenville David L. Morrow CresCom Bank, Charleston J. Barry Ham The Bank of Clarendon, Manning

J. Rick Pa erson Yadkin Bank, Gaffney Donna S. Taylor SCBA BankPAC Treasurer

Columbia

Feature Classification curi es as well as a roll-up assessment of the por olio as a whole. Ra ng agency informa on can be used; it just can’t be the sole determinant of your Investment Grade decision.

• What is the required frequency for ongoing due diligence?

The level and frequency of credit assessments will largely depend on the complexity and scale of a bank’s holdings.

The guidance doesn’t provide explicit requirements for the frequency of ongoing due diligence, but it does say that banks must con nually assess their securi es to determine if they meet the regulatory defini on of Investment Grade.

Banks that have large concentra ons of complex posi ons may want to establish a more formulaic and frequent process to perform comprehensive credit reviews.

For most banks, however, a system that establishes quarterly or semi-annual reviews, with credit triggers for more frequent assessments, should be more than sufficient to meet the requirements.

What’s most important is that you have a way to periodically assess the performance of each security so you can demonstrate that the security con nues to meet the defini on of Investment Grade.

• When is a classifica on required?

If a bank begins to observe credit declines in a par cular security, management should monitor those condions and determine if the declines will ul mately impact repayment capacity. If management’s assessment is that repayment in full is not expected, the security will likely be subject to classifica on.

On the other hand, if repayment in full is expected, even a er considering the credit stress, the security should not be classified.

Defini ons An important point to consider when determining the poten al for adverse classifica on is the magnitude of the deficiency that impacts repayment capacity.

By defini on, to be classified Substandard, a security must have well-defined

‘The new guidelines provide much-needed clarity on the requirements for security analysis in the wake of Dodd-Frank.’ weaknesses that jeopardize the payment of the obliga on in full. Addi onally, those weaknesses must be characterized by the dis nct possibility that the bank will sustain some loss if the weaknesses are not corrected.

The concept of “dis nct possibility” is important. A security should not be classified just because it begins to show credit concerns.

A security should only be classified if credit characteris cs are so bad that payment of the obliga on in full might not be expected. Whether it is a loan or security, misapplying the concept of dis nct possibility could lead to elevated and inappropriate classifica on designaons.

• What happens to a security if credit characteris cs improve?

An important and helpful part of the new guidance is the inclusion of specific scenarios that demonstrate how classifica on upgrades can occur.

Banks no longer need to be bound by stale or inconsistent credit agency ratings.

If you can show improved credit trends in a par cular security, you may be able to pass that security regardless of its specific ra ng.

Expecta ons As indicated on Table 1, even if a security has incurred losses or taken a charge for other than temporary impairment, the security does not have to be classified as long as the future contractual payments are expected to be received.

The expecta on for repayment is the key component of the classifica on designa on. Simply put, if losses are projected and repayment is not expected, the security must be classified. If losses are not projected and repayment

is expected, the security should not be classified, even if previous losses were incurred.

While the guidance clarifies the standards for classifica on, it also points out that not all upgraded securi es will meet the defini on of Investment Grade.

Unlike the classifica on defini on, the Investment Grade standard is impacted by prior credit loss experience. If a security has incurred actual credit losses, it cannot be considered Investment Grade unless it has gone through a court supervised restructuring.

As an example, a municipal security that emerges from a bankruptcy proceeding with an en rely new credit structure would not have to be classified and could otherwise be considered Investment Grade and eligible for purchase.

On the other hand, a whole loan security that took losses, but is expected to receive all future payments, could avoid classifica on, but would no longer be considered Investment Grade.

Such dis nc ons are important to recognize when considering poten al strategies for por olio holdings.

Clarity The new guidelines provide muchneeded clarity on the requirements for security analysis in the wake of DoddFrank.

Even though ongoing due diligence requirements could create increased compliance challenges for certain ins tuons, the overall guidance allows a more favorable method of evalua ng security holdings based on economic viability.

Overall, the guidance should provide increased clarity for investors who are seeking risk/reward opportuni es in securi es that do not have imbedded guarantees from the U.S. government.

(Bart Smith is a Managing Director at Performance Trust Capital Partners and former Territory Supervisor at the Federal Deposit Insurance Corp. He serves as an expert resource on bank policy and regulatory ma ers.)

21

Execu ve News

Young Set to Step Down from The Commercial Bank Al Young, president and chief execuve officer of The Commercial Bank, will wind up a 45-year banking career this spring when he re res at the end of March.

Young, who began as the head of the Honea Pathbased ins tu on in 1996, will be replaced by Tim Thompson on April 1.

“I’ve worked with Tim for 12 years and he cut his teeth on the Young same mold that I did,” Young said. “I think it’s going to be a non-event when the change takes place and that he’ll do a great job going forward.”

Young is a graduate of Florence Darlington Technical College and the University of Alabama. He also graduated from the

South Carolina Bankers School and the Graduate School of Banking at LSU. “I’ve thoroughly enjoyed my work and my banking career,” he said. “The employees, the customers being a part of the community here – it’s all been great.”

Young began his banking career with First Ci zens as a management trainee and was later promoted to vice president. Later he served as president of Latta Bank and Trust prior to moving to the Upstate to serve a senior vice president for Capital Bank and Trust.

The Commercial Bank, founded in 1934, has approximately $155 million in assets. Young said the bank has remained commi ed to good, old-fashioned banking principles.

“We’re conserva ve and we’re proud of it,” he said. “We’ve had a good, long career of steady growth and I think it’s because we’ve stuck to fundamentals.

“You can’t be all things to all people,” he added. “You have to concentrate on

the things that you do well.”

Young said he’s not going to miss the regulatory burden facing bankers.

“The steam roller that is hi ng banks right now is a monster and it’s just going to get worse,” he said. “It’s going to be a challenge for banks to cope with all the regula ons that are coming.

“Banks are going to have to hire the right people in the right places to deal with all the changes,” Young added. “It takes a special person to deal with regula ons.”

Post-banking, Young is looking forward to spending me outside, whether it be pilo ng a plane, fishing, hun ng, gardening, traveling with his wife Judith or whatever else catches his fancy.

“I’d like to do some traveling, but not too much, and I’ve got some hobbies I’d like to get more involved with,” he said.

“And it’ll be nice to have more me to be available to help with community projects.”

Horn Retires After Long, Successful Career in Banking Gary Horn, Banking Division president of CBC Na onal Bank, re red on Jan. 10 a er nearly 40 years in banking.

Horn was long ac ve in the SCBA, holding a number of key roles, including serving on the SCBA’s board of directors and on the BankPAC Board.

“I am grateful to the Board of Directors, Officers and staff of CBC Na onal Bank for the opportunity to serve the banking needs of Beaufort for the past Horn 11 years,” Horn said. “I will miss the day to day interac on with our customers and staff, but my

golf game will get my full a en on.”

Horn began his banking career in 1975 and worked in several markets throughout the Southeastern United States.

During his tenure with CBC Na onal he served as execu ve vice president and chief credit officer prior to being named president of the Banking Division.

“Gary has been an integral part of the success of CBC Na onal Bank from the very beginning,” said Mike Sanchez, president and chief execu ve officer of CBC Na onal.

“His knowledge of the banking industry and his a en on to customer needs has been invaluable for our company as we have grown from small local banks to a regional financial services company,” Sanchez added.

Wade Replaces Duke as Chair at Coastal Carolina Bankshares Dennis Wade, president and chief execu ve officer of The Jackson Companies, has been named chairman of the board of directors of Coastal Carolina Bancshares, the holding company for Coastal Carolina Na onal Bank.

Wade replaced Chester A. Duke, who has been board chairman since the bank was founded in 2009.

Duke served as chairman of the South Carolina Bankers Associa on in the late 1980s.

Duke served as vice chairman of Anchor Bank from 1999 to 2000 and was previously chairman, president and chief execu22

ve officer of M&M Financial Corp.

M&M Financial was the parent company of First Na onal South, a combina on of Marion Na onal Bank and Davis Na onal Bank.

He he also served as president of Marion Na onal Investment Corp.

Duke served as president of Davis Na onal Bank from 1974 through 1981 and of Marion Na onal Bank from 1981 to 1994, when the two ins tu ons combined to form First Naonal South.

Execu ve News

Curt Evatt Takes on President’s Position at Oconee In connec on with Curt Curt Eva was Eva ’s appointment, H. named president of Seneca-based Oconee Allen Salter, was appointed senior vice president Federal Financial and chief financial officer Corp. and subsidiof the company and the ary Oconee Federal bank.

Savings and Loan AsRhe Eva has been socia on on Jan. 1, with Oconee Federal replacing his father, Savings and Loan AssoRhe Eva .

The senior Eva , 86, cia on since 1960, and has served as a company will retain his roles as director since 1970. chief execu ve officer Today, Oconee has four and chairman of both branches and 45 employthe company and the ees. bank.

Curt Eva , 41, has Curt Eva said he’s pleased with the way the been with Oconee Oconee Federal Chief Execu ve Rhe Eva , right, President Curt Eva , le , with Oconee County market is Federal since 1988, Gaynell Eva , Rhe ’s wife and Curt’s mother, at the 2013 South Carolina Bankers rebounding. and has held sevAssocia on Annual Conven on.

“In our area, the econeral posi ons, most omy overall and in par cular the real recently chief financial officer. He serves “This is just a way for us to do some as a director of both the company and planning for the future,” Curt Eva said. estate market seems to have leveled out and even appears to be star ng to come the bank.

“But my father is s ll in here five days back,” he said.

Oconee Federal is one of South Caroa week, working as CEO and chairman. lina’s oldest financial ins tu ons. It was Part of this had to do with him le ng “We’ve seen our loan demand pick up.

It looks like things are picking up,” he begun in 1924 and today has approxigo some of the opera onal aspects of added. mately $370 million in assets. running the bank.”

Erwin Adds Chairman’s Duties NBSC Appoints Creech Chair Samuel Erwin, chief execu ve officer of Palme o Bancshares, has been named chairman of the Greenville-based financial services company.

Erwin has served as CEO since 2010.

He succeeds Michael D. Glenn, who took over as chairman in 2010.

Glenn will remain on the board.

The elec on took effect Jan. 1, and also applied to the company’s subsidiary, The Palme o Bank.

The roles of the chairman of the board and chief execu ve officer have been separate since Jan. 1, 2010, Erwin when Erwin assumed CEO du es.

Prior to that me, L. Leon Pa erson served as the chairman and CEO, and he con nued in the role as chairman un l his re rement from the board at the end of 2011.

At that me, Glenn, who had been serving as the independent lead director, was elected as chairman and the independent lead director role was not filled.

Robert B. Goldstein assumed the role of independent lead director for the company on Jan. 1.

NBSC has named Stephen M. “Steve” Creech chairman of its South Carolina board of directors.

Creech has been a member of NBSC’s board since 1996. He is principal owner of Creech, Roddey, Watson Insurance Co. in Sumter.

“Steve has been a valuable member of the NBSC Board since 1996 and we are delighted he has taken on this expanded role,” said Chuck Garne , NBSC’s chief execu ve officer.

“As a proven leader, he represents the commitment of NBSC to the customers and communi es we serve,” Garne Creech added.

Creech is a na ve of Charleston. He is a long- me resident of Sumter County, and served as the mayor of the city of Sumter for more than a decade, from 1988 through 2000.

He is currently chairman of the Sumter Chamber of Commerce Military Affairs Commi ee.

NBSC is a division of Synovus Bank.

Creech Roddey Watson Insurance is a locally owned insurance agency.

23

Personal Transac ons

Bethea

Suess

Anderson Brothers Bank Elmore Bethea has joined Anderson Brothers Bank as a corporate inves gator.

CresCom Bank has added Diana Evans as branch manager for the ins tu on’s recently opened Litchfield/Pawleys Island branch.

Amy Cannon has joined Anderson Brothers Bank vice president/loan officer.

CresCom Bank has named Cara Gerrets vice president and mortgage opera ons manager.

Anderson Brothers Bank has added Kraig Thornton as a mortgage lending officer.

Lauren Henson is CresCom’s new senior vice president of training and employee development.

CertusBANK, NA David Hoppenworth has joined Easleybased CertusBANK, NA as execu ve vice president for opera ons and credit.

CertusBANK, NA has named Gary Suess chief opera ng officer for CertusBank Mortgage.

CresCom Bank Mark Branstrom recently joined CresCom Bank as its new Retail Mortgage Group president.

CresCom Bank has added five new members to its Retail Mortgage Group: Sco Branstrom, Griffin Morrow, Amanda Phillips, Craig Rabon and Pa y Stacy. Rabon and Phillips were named as assistant vice presidents for the Retail Mortgage Group, Stacy will serve as a mortgage originator for the North Myrtle Beach, Li le River, Conway, Loris and Brunswick County areas, Branstrom will work as a retail mortgage loan officer and Morrow will serve as mortgage loan officer.

CresCom Bank has promoted Ellen Cavanaugh to senior vice president.

24

Branstrom

April Hewe has joined CresCom Bank as a retail assistant at its West Ashley office in Charleston.

Jamin Hujik of CresCom Bank has joined the Federal Reserve Bank of Richmond’s Fi h District Payment Advisory Council.

Hujik, an execu ve vice president, will serve on the council through May 2016.

Kirsten Kjos has joined CresCom Bank as a teller.

Jamey Mateo has joined CresCom Bank as a teller.

Seth Strickland has joined CresCom Bank as a customer service representave.

CresCom Bank has promoted Jason Withers to banking officer within its credit analyst department.

CresCom Bank has hired Travis Dannelly as branch manager for the bank’s Conway loca on.

First Community Corp.

As part of its merger with Savannah Riv-

Evans

Phillips

er Banking Co., First Community Corp. appointed three Savannah River board members to the boards of First Community and subsidiary First Community Bank. The board appointed Randy Potter as a class I director, Paul Simon as a class II director and E. Leland Reynolds as a class III director. Simon is the former chairman of Savannah River’s board of directors and Po er is the former CEO.

First Ci zens Nate Barre has joined First Ci zens as commercial area execu ve for its Upstate South Carolina region.

David Berry has joined First Ci zens as retail sales manager and assistant vice president for the company’s Barnwell main branch.

Les Branson was recently appointed to First Ci zens’ in-house broker dealer, First Ci zens Securi es, as financial advisor and vice president for the Augusta area.

John Douglass has joined the First Ci zens’ commercial banking team as commercial underwriter and vice president.

Richard “Tyler” Goldsmith has joined First Ci zens as assistant vice president and retail sales manager of the company’s Blu on Main office.

Aaron Jus ce has joined First Ci zens as a private banking rela onship manager for the company’s Charleston-area Wealth Management team.

First Ci zens’ Director of Learning and

Personal Transac ons

Stacy

Barre

Development Arfan Qureshi has earned the Cer fied Professional in Learning and Performance creden al from the American Society for Training and Development Cer fica on Ins tute.

First Ci zens has named Jus n Rice its Beaufort County Execu ve.

First Financial Holdings Inc. First Financial Holdings Inc. on Jan. 31 entered into an agreement with President and Chief Risk Officer R. Wayne Hall, pursuant to which he will step down as chief risk officer but will remain president un l June 30, 2015.

Horry County State Bank Wanda Maguire has been promoted by Horry County State Bank to vice president, branch manager and loan officer of the bank’s Li le River branch.

Independence Bancshares Inc. Greenville-based Independence Bancshares Inc. appointed Martha Long chief financial officer.

NBSC Samuel I. “Sam” Baxter has been promoted to regional execu ve by NBSC. NBSC has the appointment of Robert R. Clarkson to its Hilton Head-area board of directors.

Barre

NBSC announced recently that Charlene Grigsby has been promoted to banking officer.

Drew Kirkpatrick was recently promoted to banking officer by NBSC. William “Bill” LaMo e has been named senior commercial banker with NBSC. Richard Ryan Jr. has joined NBSC as assistant vice president and commercial banker.

Ryan Douglas Tiwari has been named vice president and commercial banker

by NBSC.

Oconee Federal Savings Bank H. Allen Salter has been appointed senior vice president and chief financial officer of Oconee Federal Savings Bank and holding company Oconee Federal Financial Corp.

Pinnacle Bank Pinnacle Bank of South Carolina has named Marshall Franklin to its board of directors.

Sandhills Bank Jolene Campbell has joined Sandhills Bank as assistant vice president and senior loan administrator.

Jessie C. Ford’s role with NBSC has been expanded to include managerial responsibility for the Private Banking team in Columbia.

SCBT David Kirkpatrick recently joined SCBT’s Wealth Management Group as senior vice president and por olio manager.

John C. Griggs III has been promoted to Columbia market president by NBSC.

Greg Lapointe has been named northern banking group president for SCBT

LaMo e

Tiwari

and First Federal, where he will have responsibility for Georgia, North Carolina and the Upstate and Foothills regions of South Carolina.

SCBT has named Thomas Ledbe er group president for its mortgage banking and wealth management divisions.

Brent Mackie has been named regional president for the Grand Strand Region of SCBT and First Federal.

Rebecca “Becky” Schauer Robertson of SCBT has been awarded the Cer fied Fraud Examiner creden al by the Associa on of Cer fied Fraud Examiners, the world’s largest an -fraud organiza on.

South Atlan c Bank South Atlan c Bank has promoted Don Kyzer to senior vice president.

South Atlan c Bank has hired four individuals to fill new roles within the bank’s mortgage department: Travis A. Minter, senior vice president and director of mortgage loans; Adam M. Paskanik, vice president and mortgage loan officer; Peter M. Insabella, vice president and mortgage loan officer; and Susan O. Burton, vice president and mortgage opera ons manager. Also, Douglas A. Arseneau has taken on the role of director of mortgage loan opera ons.

Southern First Bank Greenville-based Southern First Bancshares Inc. has hired three individuals: Lisa Gilstrap as mortgage originator, Michael Edens as senior vice president and Kevin Lee as senior vice president.

See Personal Transac ons Page 26 25

Personal Transac ons

Sche g

Kyzer

Robertson

Mackie

Kilpatrick

Tidelands Bank Mount Pleasant-based Tidelands Bank has hired Chris Berry as assistant vice president and community banker in their commercial lending department for the Summerville and North Charleston area.

Ashley Cowart Shuler has joined Tidelands Bank as a branch manager and banking officer in the West Ashley office.

Paul Crovo is returning to Tidelands Bank a er a 2-1/2 year hiatus in re rement. He will be serving the Blu on and Hilton Head Island area as vice president and branch manager.

Etc. The South Carolina Chamber of Commerce Board of Directors for 2013-2014 includes a number of Palme o State Bankers: Mike Brenan, South Carolina market president for BB&T, is the

Brice Sprayberry has been named assistant vice president by Tidelands Bank.

board’s past chairman; while Sharon Bryant, execu ve vice president and division execu ve for First Ci zens; Walter Davis, chief execu ve officer of CertusBANK, N.A.; Sara Fisher, execu ve vice president and chief opera on officer for NBSC; and Mickey M. Renner, senior vice president with Wells Fargo, also serve on the state chamber’s board.

Lynn Harton, former president and chief execu ve of The South Financial Group, was promoted to president of United Community Bank of Blairsville, Ga.

Legacy Academy Expands with SSBCI Financing Creates 25 New Jobs SSBCI with SBA 504 Bridge with Palmetto Bank, BDC and CDC s Legacy Academy for Children® franchise s New location in Greenville, SC (2nd location) s Child care and classroom instruction to 190 children s Owner: Cindy Agnew

Sherri Scearce Vice President & Loan Officer SScearce@BDCofSC.org

“Palmetto Bank was able to mitigate the risk during construction by using 504 bridge financing through BDC’s SSBCI program. Our bank strongly supports the economic development and job creation goals of the program.”

— Carter Hollis, Vice President and Commercial Relationship Manager, Palmetto Bank

803.744.0306

News

Stevens Joins Community Bankers Bank Anderson Brothers Long- me South Carolina banker Wil- Bank of Richmond and the Independent Bank Exec Toasted liam G. “Bill” Stevens has joined Com- Bankers of America. munity Bankers’ Bank as the company’s South Carolina marke ng director for South Carolina.

Stevens has enjoyed a long and successful career in banking.

He worked for Bankers Trust of South Carolina, then served as founder, director Stevens and chief execuve officer of Greenwood Na onal Bank, later CapitalBank, and publicly traded Community Capital Corp, the holding company for an opera on that had offices throughout the Upstate.

Stevens has served on the boards of the South Carolina Bankers Associa on, the Charlo e Branch of the Federal Reserve

“Bill Stevens is a commi ed community banker and appreciates the value of an equally commi ed correspondent partner like Community Bankers’ Bank,” CBB President and Chief Execu ve Officer Bill McFadden said.

“He is in mately familiar with the services and offerings of CBB as he served as a director from 2004 to 2008 and his bank was a shareholder and ac ve client,” McFadded added. “We are delighted that Bill has agreed to share our success story with South Carolina bankers and help us expand our footprint in the Palme o state.”

Henderson Duke, who had previously served clients in both South Carolina and North Carolina, will now serve as the rela onship manager for Community Bankers’ Bank customers in North Carolina.

65 YEARS STRONG Growing up without growing old.

www.gsblsu.org Photo taken in 1958 as bankers arrived at the Baton Rouge airport.

For information on our 2014 Session: May 25 – June 6 225-766-8595 • 4273 Highland Road, Baton Rouge, LA 70808

Lisa Rife of Anderson Brothers Bank was named 2013 Ci zen of the Year by the Loris Chamber of Commerce during the organiza on’s annual banquet in January.

Rife, a vice president with Anderson Brothers Bank, was one of three individuals nominated for the honor.

Joe Cox of Horry County State Bank presented the award to Rife.

“We all should have known that a young lady such as Lisa, who began suppor ng herself at the age of 14, would no doubt be a success in the world,” Cox said. “She has earned this award as ci zen of the year through her life’s example and her love of others and our city.”

Rife brings a wealth of knowledge and outstanding service to Anderson Brothers Bank, according to officials with the Hemingway-based ins tu on.

You’re never too old to set another goal or to dream a new dream.

We’re 65 and not ready to retire. The Graduate School of Banking at LSU has educated thousands of young bankers and we’re just getting started. Our up-to-date curriculum addresses the future leadership needs of your bank. Contact us today because those who keep learning stay young and continue to venture forward.

Feature Lane “His involvement in and passion for the Charleston area is evident in his work with so many organiza ons and in the outcomes that have shaped so much of the progress of this community,” added Redden, who is based in Charleston.

“Hugh’s impact is felt not only in his stewardship of The Bank of South Carolina and in the community, but in the terrific example he’s set, that I and so many others have sought to emulate.”

Lane’s bank provided the first loan to Chris Fraser and his business partner, enabling them to start their real estate company, Avison Young, 25 years ago.

Today, Fraser is chairman of the Charleston Metro Chamber of Commerce, and he underscored Lane’s contribu on to the region and its success.

“Community leaders like Hugh are the bedrock of every community,” Fraser said.

Lane said his devo on to community is an inherited trait. When his father, Hugh Lane Sr., a member of the South Carolina Business Hall of Fame, moved to the state in 1937 to help run Ci zens and Southern Bank of South Carolina, he helped push the growth of Charleston, according to Lane.

“He recognized that there was a need for involvement by the banks in Charleston, and that Charleston would benefit from bank involvement in the community,” he added.

Civic par cipa on was an element that Lane con nued to stress when he started The Bank of South Carolina.

“Hugh set the bar in terms of community involvement and philanthropy,” Hassell said. “Philanthropy is actually built into the bank’s philosophy.”

For Lane, whose involvement in the community includes ac ve par cipa on in land-preserva on efforts, being engaged makes good sense.

“It’s your involvement that gets you in front of people,” he said. “The young people here pick up pre y quickly that community involvement is a part of our culture.”

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“Hugh’s impact is felt not only in his stewardship of The Bank of South Carolina and in the community, but in the terrific example he’s set, that I and so many others have sought to emulate.”

– Rick Redden S.C. President, Wells Fargo “Hugh did a great job crea ng rela onships at C&S and that’s been his secret here,” said Sass, who, along with Hassell and Chief Financial Officer Sherry Sharry, all worked with Lane at C&S. The Bank of South Carolina was begun with the inten on of being around for a long me, Lane said.

“One of the things that really differenated this bank as a startup was that a lot of people understood we were in this for the long haul, rather than looking to cash out a er five years,” he said.

The bank and its holding company, The Bank of South Carolina Corp. (BKSC), have been consistently run with a view toward long-term success, Hassell said.

“Our earnings are managed for the long haul, and for the benefit of employees, shareholders and the community,” he added. “That’s something that Hugh ins lled in us and how we’ve run the bank from beginning,” While today’s banking environment is decidedly different than that of a quarter century ago – “When we opened we didn’t even have a compliance officer or an internal auditor; today, we have three full me people dedicated to that area,” according to Sharry – the bank has adapted with the mes.

Last year, The Bank of South Carolina Corp. earned a li le more than $4 million, up more than 11 percent from

2012. Over the past five years, BKSC has earned nearly $16 million and since 2009 the company’s ROA has been above 1.0 percent each year and its ROE has been above 10 percent.

Original stockholders have benefited handsomely, as their investment in BKSC stock has risen 500 percent.

Lane’s biggest impression can also be seen in the influence he’s had on those he’s led over the years.

In 2012, as the bank’s 25th anniversary approached, Hassell, unbeknownst to Lane, asked employees to write about Lane and what it was like to work for him.

However, they hadn’t yet been told that Lane was about to step down as president and CEO, a decision then known by just a small handful of top bank execuves.

“The le ers we got back were wonderful and were really indica ve of what he’s meant to this bank,” Hassell said.

The bank ended up compiling the letters into a book. Even today, two years later, Lane becomes sen mental while reading over the words of those he’s hired and mentored over the years.

“My mother passed away about 18 months ago, but I was able to show the book to my mother, and it really made me proud,” Lane said.

Lane hasn’t decided when he’ll give up banking for good: He s ll enjoys coming into the office, interac ng with employees and customers, and being an ac ve part of the community.

But there’s li le doubt that even when Lane decides it’s me to call it a career, that which he’s built, nurtured and seen to frui on at The Bank of South Carolina – from the employees and execu ves he’s hired, the systems he’s helped install and the bank’s role in improving and preserving Charleston – will long remain a testament to his foresight and dedicaon to the community.

“Hugh’s created a legacy in this ins tuon that will outlive us all,” Hassell said.

“You can’t say that about many banks, or people, anymore.”

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Bank News BNC Corp.

SCBA-member BNC Bancorp has announced plans to acquire Chapel Hill, N.C.-based Community First Financial Group Inc. and Albemarle, N.C.-based South Street Financial Corp. Community First Financial Group is the holding company of Harrington Bank, FSB. Carolina Financial Corp.

Stock in Carolina Financial Corp., the Charleston-based parent of CresCom Bank, has begun trading on the OTC Bulle n Board under the cker symbol “CARO,” according to the company.

Coastal Carolina Na onal Bank Coastal Carolina Na onal Bank acquired Investors Mortgage Co. Inc., late last year. The Investors Mortgage team became a part of Coastal Carolina Na onal Bank effec ve in October, according to the bank. Laurence Bolchoz Jr., president and chief execu ve officer of the bank and parent Coastal Carolina Bancshares Inc., founded Investors Mortgage in 1983 along with Dave Brunko.

First Community Corp.

Lexington-based First Community Corp. completed its merger with Augusta, Ga.based Savannah River Financial Corp., effec ve Feb. 1. Under the deal, Savannah River shareholders have the right to receive either $11 in cash or 1.0618 shares of First Community common stock, or a combina on thereof, for each Savannah River share they owned prior to the merger.

Greer State Bank Greer State Bank kicked off the celebraon of its 25th anniversary in January with commemora ve banners and signs highligh ng a quarter-century of service to the Upstate. The celebra on will con nue through 2014.

Park Sterling SCBA-member ins tu on Park Sterling Bank of Charlo e has announced it is entering the Virginia market with the hiring of two line-of-business execu ves and a commercial banking team based 30

in the Greater Richmond region. Ini al ac vi es will be conducted through a loan produc on office while the company seeks facili es and approval to provide full banking services.

Pinnacle Bank of S.C. Pinnacle Bank of S.C. has joined with the Senior Housing Crime Preven on to help protect individuals living in state veteran nursing homes in the U.S. and allow them to live their lives in safe and secure environments through the Senior Housing Crime Preven on Founda on’s Senior Crimestoppers program.

South Atlan c Bank South Atlan c Bank has doubled the size of its mortgage department to include

addi onal originators and opera ons staff.

Yadkin Bank The parent of SCBA-member Yadkin Bank is merging with Raleigh-based VantageSouth to create one of North Carolina’s largest community banks, it was announced in late January. The new en ty, to be called Yadkin Financial Corp., will be headquartered in Raleigh and will have about $4 billion in assets.

The deal has already been approved by both companies’ boards of directors and is expected to close in the second quarter. The deal is structured as merger of equals, although Yadkin will be listed as the legal acquirer and the surviving en ty.

SCBA News

SCBA Set for Inaugural Women in Banking Symposium Gov. Nikki Haley and Nephron Pharmaceu cals Corp. Chief Execu ve Officer Lou Kennedy are among speakers scheduled for the Inaugural Women in Banking Leadership Symposium, set for Tuesday, April 29 and Wednesday, April 30 at the Center City Marrio in Charlo e.

The South Carolina Bankers Associa on Kennedy and the North Carolina Bankers Associa on are working together to host the event, which will include business sessions on Tuesday and Wednesday, a recep on and dinner Tuesday evening and a luncheon Wednesday.

Women have always been a significant part of the banking workforce, but as

banking con nues to evolve, so do women’s roles in the industry, said Sara Fisher, chief opera ng officer for NBSC and a member of the SCBA board of directors.

“It is exci ng to watch the growing number of women in leadership posions,” Fisher said. “To be an effec ve leader, it is important to learn from those who went before us, and it is important to encourage and mentor those that will follow.

“Women leaders make their own unique contribu ons, insuring a brighter future for our banks and our communies,” she added.

The focus of this program will be the achievements that women have made in the banking industry, poli cs, the professional world and life.

Women from all career levels of the banking world are encouraged to a end.

It will be an opportunity to learn, network and grow.

Gov. Haley was elected South Carolina’s 116th governor in 2010.

Both Kennedy and her husband Bill, who together run Nephron, are na ves of the Palme o State and graduates of the University of South Carolina.

Nephron is a privately owned manufacturer of generic inhalaon solu ons. It Haley produces more than 1 billion doses of medicine annually.

Cost for two-day event is $295 and the hotel rate is $189 a night.

For more informa on contact SCBA Senior Vice President Anne Gillespie at 803.779.0850, or by email at agillespie@ scbankers.org.

STONIER To be the best, learn from the best.

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Now accepting applications for Stonier 2014.

The ABA Stonier Graduate School of Banking June 5–12, 2014 University of Pennsylvania Philadelphia, PA

Visit abastonier.com for details.

Welcome New Associate Members Accume Partners 8209 Market St., Suite A Wilmington, N.C., 28411 Phone: 910.338.2371 Contact: Laurie Reiss Website: www.accumepartners.com Email: lreiss@accumepartners.com

with Community Bankers Bank and offers a full suite of investment products designed specifically for community banks. Our services include fixed income trading and sales, por olio accoun ng, safekeeping, asset liability management, and bank-owned life insurance.

For almost 20 years, Accume Partners has been providing banks with internal audit, regulatory compliance, technology risk management and enterprise risk management services.

Through these key areas of focus, Accume is able to stay in front of change, bring balanced perspec ves and the specialized knowledge demanded by today’s banks. Accume professionals are former bank execu ves, regulators, auditors, accountants, compliance officers and risk managers with extensive experience in the pressing issues faced by the banking community. This experience, along with the insights gained from serving clients daily, provides us with the basis for effec ve insights, thought leadership and prac cal soluons. Accume has served more than 600 financial ins tu ons.

ING 128 South Tryon Street Suite 1950 Charlo e, N.C., 28202 Phone: 888.571.4075 Contact: Rodney Dodson Website: www.ing.us Email: Rodney.Dodson@us.ing.com

FNBB Capital Markets 600 University Park Place, Suite 380 Birmingham, AL 35209 Phone: 205.262.2600 Contact: Wes Caudell Website: www.bankers-bank.com Email: wcaudell@bankers-bank.com FNBB Capital Markets is a division of First Na onal Bankers Bank, a na onally chartered banker’s bank with offices in Louisiana, Mississippi, Alabama, Arkansas, and Georgia. We serve more than 600 community banks throughout the Southeast and Eastern United States with a focus on being a trusted partner – not a compe tor. In South Carolina, FNBB Capital Markets works in partnership 32

ING Employee Benefits is dedicated to developing the best possible benefits solu ons that bring value to producers, simplicity to employers, and fairness to employees. Our products include: group insurance products such as individual excess risk insurance, aggregate excess risk insurance, life insurance, AD&D insurance and disability income insurance. In the area of voluntary insurance products we offer universal life insurance, whole life insurance, cri cal illness insurance, disability income insurance and accident insurance. ING Employee Benefits products and services are provided

by ReliaStar Life Insurance Company.

ReliaStar has more than 90 years of experience in the design, implementa on and administra on of employee benefit plans. ReliaStar is licensed in all states except N.Y. Queens University The McColl School of Business 1900 Selwyn Avenue Charlo e, N.C. 28274 Phone: 704.337.2232 Contact: Tracy Grooms Website: www.queens.edu Email: groomst@queens.edu The McColl School of Business at Queens University has launched a new

ini a ve to create a Banking concentra on with the Bachelor of Business Administra on degree with a finance major.

Tracy Grooms, a former Bank of America execu ve, was recently named to lead the program and will be working with bankers across N.C. and Upstate S.C. to ensure the curriculum prepares students for successful careers in banking.

Palme o Trust 306 E. North Street Greenville, S.C., 29601 Phone: 864.250.6060 Contact: George Campbell Website: www.palme otrust.com Email: gcampbell@palme otrust.com Palme o Trust, a division of Thomasville Na onal Bank, is a full-service trust and wealth management firm with offices in the Greenville, Spartanburg and Laurens branches of The Palme o Bank.

As a provider of financial services with na onal trust powers, TNB operates 11 offices across five states, managing $1.5 billion in assets through community bank pla orms.

Payscape Advisors 34 Radcliffe St., Suite B Charleston, S.C., 29403 Phone: 843.300.4170 Contact: Richard Hull Website: www.payscape.com Payscape Advisors is a financial technology company that offers dynamic payment solu ons to businesses of all different sizes. Our dedica on to payment technology and industry innova on is consistent; our mission is clear: to make it simple for business owners to collect money. Whether your clients accept credit cards at their retail storefront, process payments on their mobile

Welcome New Associate Members phone, promote gi cards, operate an online shopping cart, or electronically invoice clients, Payscape offers financial cash flow needs.

Sowell Gray Stepp & Laffi e, LLC 1310 Gadsden Street PO Box 11449 Columbia, S.C., 29211 Phone: 803.231.7828 Contact: Amy L.B. Hill Email: ahill@sowellgray.com Website: www.sowellgray.com Sowell Gray Stepp & Laffi e LLC offers a tailored approach to li ga on, whether maximizing recovery, minimizing damage and legal fees, or protec ng business prac ces. Diverse backgrounds, educa on and experience promote an open exchange of knowledge and ideas.

You define the objec ve; we analyze the op ons, consider the costs and risks, and recommend approaches so that you can choose among the alterna ves.

Serving clients ranging from mul -naonal corpora ons to small businesses, we deliver respec ul service, regardless of client size. Skilled in all areas of li ga on, Sowell Gray a orneys provide business and li ga on advice as well as representa on in all state and federal trial and appellate courts.

The Floyd Law Firm, PC PO Box 14607 Surfside Beach, S.C., 29587 Phone: 843.238.5141 Contact: Bradley A. Floyd Website: www.floydlaw.com Email: bafloyd@floydlaw.com Established in 1973, The Floyd Law Firm is a general business law firm providing legal services regarding business, estate planning, li ga on, personal injury, criminal defense, real estate, probate ma ers, social security disability, family law, golf

law, animal law and other a number of other areas. Our a orneys have the knowledge and experience to ensure you, your family or your business receive the best legal guidance the Grand Strand has to offer. We have a orneys who have been in prac ce for over 50 years.

We take our responsibili es seriously, knowing that the effort we expend and the results achieved for our clients will o en have a las ng impact on their lives. Our goal is to build las ng rela onships with our clients so that they are “clients for life.” Although our slogan is “It’s Our Job to Know,” it’s also our job to care about you.

The Todd Organiza on 24610 Detroit Rd., #210 Cleveland, Ohio, 44145 Phone: 440.871.7700 Contact: Rich DeVita Website: www.toddorg.com Email: devitar@toddorg.com Founded in 1957, The Todd Organiza on is noted as a na onal leader in BOLI consul ng, financing and administra on, as well as non-qualified re rement and execuve benefit plans. With hundreds of plans implemented, Todd serves banks of all sizes and companies in all major industries, providing benefit financing op ons, benefit security solu ons and service. Our mission is to help organizaons finance long term corporate obligaons and enhance shareholder value.

Vision So ware Solu ons 1 Carriage Lane, Building K Charleston, S.C., 29407 Phone: 843.571.5700 Contact: Barry Brinson Web: www.visionso waresolu ons.com Email: bbrinson@visionso waresoluons.com Vision So ware Soluons is a Charlestonbased technology

firm focused on the specific needs of community banks. FISCAL Credit Suite provides credit underwri ng and risk management through a suite of products: FISCAL: analyze borrower financial statements, generate ra os, trends, industry comparison, global cash flow and a credit memo; Excep onComplete: track financial statements, loan covenants, policy excep ons, UCCs, etc.; and CrossLink: map and import customer and loan data from your core system.

Purchasing at a Glance raises opera onal efficiency and reduces cost through a purchasing and inventory management system for teller supplies, printed materials, fixed assets, contracts and other items used by your employees.

Your Marke ng Co 110 Laurens Rd. Greenville, S.C., 29602 Phone: 864.908.9291 Contact: Bo McDonald Web: www.yourmarke ngco.com Email: bo@yourmarke ngco.com At Your Marke ng Co. the success of our business and our clients is based on three words: Relaonships, ideas and results. We develop, nurture and maintain strong rela onships with each client. We’re in it for the long term. We take the me to get to know our clients because we’re creating a bond, not just selling something.

We’ll get to know you, your personality and your goals. Then we’ll create and execute a marke ng plan with strategies tailored for you and your budget.

We provide great ideas based on the individual needs of each client. We’ll highlight your brand’s unique personality and posi on in the community in a custom way. The individual a en on you provide separates you from the compe on – as does ours. So let us help you shake up the status quo with a modern marke ng message planted on the founda on you’ve worked hard to establish.

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Good Samaritans Ameris Bank Ameris Bank Midlands loca ons collected more than 288,800 non-perishable food items, part of Ameris Bank’s fourth annual “Helping Fight Hunger” ini a ve, launched late last year.

Altogether, Ameris Bancorp collec vely donated $75,000, with the funds distributed among local food banks. Dona ons collected in the Midlands area went to Christ Central Ministries; Palme o Project (Snack Pack – Richland 1); McGregor Presbyterian Church (Snack Pack); Sharing God’s Love; and Lexington Interfaith Community Services.

“I am so proud of the results of our efforts and I am extremely thankful for the support from our employees, customers and the community,” said regional President Richard Sturm.

“We all know that one food drive won’t completely eliminate the need, but we hope it brought a en on to a growing issue and provided help to our local food bank,” Sturm added. “Addi onally, we thank our business partners who graciously agreed to display a collec on box in their business – their partnership made the ini a ve even more successful.”

First Ci zens The First Ci zens Founda on recently awarded $20,000 to Southern Wesleyan University, a not-for-profit university serving more than 450 students. The funds will provide scholarships for undergraduate students and will support programming and faculty ini a ves. The $20,000 award will be paid out over a two-year period beginning in 2014.

“First Ci zens is proud to support Southern Wesleyan University and its mission of fostering a student-focused learning community where students can grow as dedicated scholars and servantleaders,” said First Ci zens Senior Vice President Bill Harley.

“First Ci zens applauds Southern Wesleyan’s efforts to ensure that both faculty and students have access to the resources they need to thrive,” Harley added.

Added Dr. Lisa McWherter, vice 34

Late last year officials with TD Bank presented a check for $40,000 to the Harvest Hope Food Bank. Pictured are, from le , Zealy Jenkins, TD Bank retail market manager; Karen Smith, TD Bank regional vice president; Denise Holland, Harvest Hope execu ve director; and David Lominack, TD Bank market president for the Upstate and Midlands.

president for development at Southern Wesleyan, “First Ci zens’ partnership is cri cal to our con nued ability to provide an outstanding educa on for our students and a great environment for our faculty to teach in.”

The First Ci zens Founda on recently awarded $15,000 to Hub City Writers Project, a nonprofit organiza on dedicated to cul va ng readers and writers through diverse literary programming.

The award will specifically support the organiza on’s Hub City Bookshop, a store that offers a variety of children’s and adult books, works by regional authors and Hub City Press tles.

“First Ci zens is proud to support Hub City Writers Project as it provides workshops, author visits and programming events for the local community,” said Emma Harrill, Vice President for First Ci zens. “The organiza on has enhanced the cultural vitality of downtown Spartanburg over the past decade, and we look forward to Hub City’s future ini a ves,” she added.

NBSC NBSC partnered with Gov. Nikki Haley and The Original Six Founda on to

collect new and gently used children’s and South Carolina history books. NBSC team members across the state parcipated in the ini a ve and collected more than 1,600 books.

These books will be distributed to libraries, schools and a er-school programs in several coun es, including Allendale, Bamberg, Barnwell, Clarendon, Marion, Marlboro and Union, to benefit students.

TD Bank, NA Representa ves of the TD Charitable Founda on, the charitable giving arm of TD Bank, recently presented a combined total of $80,000 to Harvest Hope Food Bank in Columbia and Lowcountry Food Bank in Charleston.

The money was used to help the pantries serve the community during the holiday season and aid in assis ng thousands who will experience a reducon in their food stamp benefits due to the expira on of the Supplemental Nutri on Assistance Program.

Harvest Hope Food Bank and Lowcountry Food Bank received grants of $40,000 each. In all, the TD Charitable Founda on donated $900,000 in grants to food pantries throughout the na on.

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