Palmetto Banker 2019-2

PALMETTO SOUTH CAROLINA BANKERS ASSOCIATION

Spring Issue 2019-2

Banker

Washington Trip 2019 SCBA Hill Visits Prove Beneficial

Save the date The 2020 SCBA Annual Convention

JUNE 14-17, 2020 | COLORADO SPRINGS, COLORADO

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

www.scbankers.org 2018-19 SC BA EXEC U TIV E CO M M ITTE E Chairman.....................................................................................David L. Morrow, CresCom Bank Chairman-Elect.............................................................................. Samuel L. Erwin, IBERIABANK First Vice-Chairman.............................................................. James A. Bennett, First Citizens Bank Treasurer............................................................................. K. Wayne Wicker, South Atlantic Bank Immediate Past Chairman................................................... R. Thornwell Dunlap III, Countybank

Contents 5 6 9 10 12 16 20 22 26 28 32 36 39

President’s Message

Washington, DC Trip 2019

2018-19 SC BA BOARD O F D IR E CTO R S 2nd Immediate Past Chairman.................................................Robert R. Hill, Jr., South State Bank ABA Update SCBA President & CEO.............................. Fred L. Green III, South Carolina Bankers Association Directors.......................................................................J. Neal Anderson, Anderson Brothers Bank

Laurence S. Bolchoz, Jr., Coastal Carolina National Bank

Curtis T. Evatt, Oconee Federal Savings & Loan

Fred Gilmer III, Southern First Bank Preferred Vendors

Fleetwood S. Hassell, The Bank of South Carolina

Boyd B. Jones, Synovus

Jennifer T. Jones, CBL State Savings Bank

Jan M. Malinowski, Palmetto State Bank

Ford P. Menefee, The Bank of South Carolina Legislative Update

Rose Buyck Newton, Bank of Clarendon

K. Reid Pollard, Enterprise Bank of SC

James B. Schwiers, GrandSouth Bank Young Bankers Division

Samuel R. Small, Jr., First Palmetto Bank

James B. Smith, Sandhills Bank 2019 Annual Conference

Charles K. Talbert, The Bank of South Carolina

2018-19 SC BA C OMM UN ITY B A N KE R S D IV IS IO N B OA R D Young Bankers Division Chairman............................................................................... Fred Gilmer III, Southern First Bank Chairman-Elect..................................................................... J. Ted Nissen, First Community Bank Advocacy Immediate Past Chairman...............................................Robert L. McKinney, South Atlantic Bank Directors.............................................................. Marion E. Freeman, The Conway National Bank

L. E. Griffin, Home Federal Savings & Loan Young Bankers Division

James A. Kimbell III, Coastal Carolina National Bank Palmetto Scholarships

Richard N. McIntyre, First Reliance Bank

Jamie O. Morphis III, Carolina Bank & Trust Co.

Barry L. Slider, First Citizens Bank

C. Kyle Thomas, Blue Ridge Bank Education & Professional 2018-19 SOUTH C ARO LIN A B A N KE R S S CH O O L B O A R D Chairman ................................................................. Ford P. Menefee, The Bank of South Carolina Chairman-Elect ................................................................................Annette L. Scott, Countybank Past Chairman.............................................................................Scott M. Frierson, CresCom Bank Directors............................................................................. Richard N. Burch, South Atlantic Bank

Robert P. Hucks II, Coastal Carolina National Bank

Calvin C. Hurst, Southern First Bank

John M. Leighton, South State Bank

Joseph A. Painter, First Community Bank

Marvin E. Robinson, Jr., CresCom Bank

J. Reeves Skeen, First Citizens Bank Robert L. White, Bank of Travelers Rest

Course Coordinators...........................................................................................James R. Clarkson

John C. Griggs III, Synovus

W. David Keller, The Citizens Bank

Francis A. Townsend III, South State Bank 2018-19 Y OUNG BAN KE R S D IV IS IO N B O A R D O F D I R EC T OR S Chairman ............................................................. Charles K. Talbert, The Bank of South Carolina Chairman-Elect..............................................................Elizabeth S. Steifle, Bank of Travelers Rest First Vice Chairman.................................................................Allison B. Cranford, TD Bank, N.A. Past Chairman.................................................................Jennifer T. Jones, CBL State Savings Bank Directors........................................................................... Thomas H. Anderson, South State Bank

Bradley R. Cantrell, Oconee Federal Savings & Loan

Rufus T. Dunlap V, Countybank

Casey L. Earl, United Community Bank

Margi M. Fleming, The Citizens Bank

Austin J. Goforth, Southern First Bank

Lauren D. Greene, Synovus

Jamin M. Hujik, CresCom Bank

Othniel W. Laffitte, GrandSouth Bank

David P. Looper, Wells Fargo

Jared A. Polk, Enterprise Bank of SC

Charles H. Redmond, South State Bank

B. Oneal Staples, Ameris Bank

H. Gibson Tucker, First Palmetto Bank

Development

Welcome New Members

Personal Transactions

Banking News

2018-19 Sponsors

SC B A St a f f President & CEO............................. Fred L. Green III Executive Vice President & CFO...... Donna S. Taylor Senior Vice President....................... Carolyn L. Bradley Senior Vice President....................... E. Anne Gillespie Senior Vice President & Counsel..... A. O’Neil Rashley, Jr., Esq. Director, Advertising & IT............... M. Caroline Snijders Administrative Assistant................... Bonnie E. Nelson The Palmetto Banker is a publication of the South Carolina Bankers Association. The magazine exists to serve its members by communicating news of interest, education and SCBA activities.

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

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President’s Message

GROWING FOR

together

overall success

As this year’s Spring Issue of the Palmetto Banker goes to print, we have just concluded our Annual Meeting. Held at The Sanctuary on Kiawah Island, we had around 450 attendees.

The next edition will go into more details about the event, the speakers, and the social interaction, but I keep thinking about the level of participation. In checking with our own SCBA historian, Anne Gillespie reports that this level is probably the highest in over 30 years.

In an era of rapid consolidation, there are much fewer banks today than 30 years ago. In fact, the first phase of consolidation began with the passage of interstate banking around that time.

Naturally, one would think that significantly fewer banks would equate to significantly lower levels of participations, but that hasn’t been the case. So why is that? I think our 2019-2020 Chairman Sam Erwin gave the main reason in his comments at last week’s annual convention. He said, “Just as banks need to remain relevant to our customers, the SCBA must remain relevant to our members.”

When we refreshed our Membership Benefits Statement several years ago, we also ranked our initiatives by their importance to our members. Political advocacy ranked the highest. This issue of the Palmetto Banker highlights some of our efforts in working toward a banking and business favorable environment. Our annual Washington trip was highly productive again this year.

Closer to home, our legislative initiatives were very successful in this year’s session of the South Carolina General Assembly.

Our Young Bankers Division, who are our future leaders of

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

our industry, also played a big role in our success. They are hosting an inaugural Sporting Clays tournament this fall to benefit our SCBA State BankPAC. Education was ranked as the second highest priority by our members. Similar to the high levels of participants at our annual meeting, the total enrollment in our upcoming SC Bankers School is at a level not seen in well over a decade. Participation in over 35 in-person seminars, our Community Bankers and Young Bankers meetings, and our numerous webinars remains very healthy.

There are other areas that provide benefit to our members, but the closing section in the Benefits Statement says it best. “One of the most important initiatives of the SCBA is to facilitate peer-to-peer interaction for our member banks and business-tobusiness interaction for our banks and associate members. An intangible benefit of membership in the SCBA is the lifelong relationships offered through attending and participating in our many events.” In addition to a great venue, excellent speakers, wonderful weather and fun activities, I think the biggest reason for the high level of attendance at this year’s annual meeting was this intangible benefit of spending time with lifelong friends.

In his comments last week about remaining relevant, Chairman Erwin concluded by asking all of our members to continue to tell us what we can do to always remain relevant to you. Thank you for your tremendous support, and please let us know how we can be better.

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Cover Story

SOUTH CAROLINA BANKERS

Annual Washington Visit MARCH 31 – APRIL 3, 2019 Every year, a group of South Carolina Bankers visit our nation’s capital in conjunction with the ABA Government Relations Summit. We had great participation again this year with more than 40 South Carolinians. In addition to our bankers, there were over 1,000 bankers from states across the country gathering for this event.

As always, this trip was busy, action packed, and productive.

We met with every member of the South Carolina congressional delegation to discuss important issues to the banking industry.

“Many of the bankers who are veterans of this event said this was our best ever,” said Fred Green. For those who arrived on Sunday, Majority Whip Clyburn hosted our group for dinner in the Lincoln Room of the Capitol Building. We were able to sit in the House chambers and hear from Congressman Clyburn how legislation is debated. That night, in addition to

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the Congressman, his staff, and capital security, the South Carolina bankers were the only people in the Capitol Building.

All our visits on the hill were productive and we were able to spend additional time with some members. Everyone enjoyed a nice luncheon with Congressman Joe Wilson. We also shared a wonderful evening and dinner with Congressmen Ralph Norman, Tom Rice, and William Timmons at the Washington office of Nelson, Mullins, Riley and Scarborough that was hosted by Nelson Mullins, Elliott Davis, and Sandler O’Neil.

Our final night’s dinner was hosted by the Federal Home Loan Bank of Atlanta.

We encourage all of our bankers to attend this event next year on March 23-25, 2020. You don’t want to miss it!

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Cover Story

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ABA U p d at e

SOLVING THE BANKING INDUSTRY’S

Cannabis CONUNDRUM While there is still a healthy–and appropriate–debate on whether cannabis should be legalized at the federal level, there is growing consensus that something must be done to address the cannabis conundrum affecting banks.

The need for a solution is growing increasingly urgent. With marijuana now legal in 33 states and the District of Columbia in some form–a number that is likely to grow–more banks are having to choose between serving the banking needs of their customers and community, and following federal law.

Even banks that have no desire to bank a marijuana grower or dispensary are at risk of violating anti-money laundering laws if an existing customer is found to have a tangential connection to a cannabis business.

In fact, a recent ABA survey found that three in four ABA members have had to close an existing account, terminate a banking relationship or turn away a potential customer because of a connection to cannabis. These include a bank that ended its relationship with a retail strip mall after it leased space to a medical marijuana shop and another that turned down a loan to a fencing company that was hired to build a fence around a marijuana growing facility. Some banks have even had to end long-time customer relationships with law firms because those firms took on marijuana businesses as clients.

Leaving the cannabis industry–whose sales are estimated to reach $24 billion by 2025–unbanked has troubling implications. Such businesses have

resorted to dealing entirely in cash, which can make them lucrative targets for criminals and create potential public safety risks for local communities. They are also harder to monitor for compliance with tax laws or irregular financial activity.

These facts likely explain why an overwhelming majority of the banks– 99 percent in our survey–want Congress to resolve the conflict between state and federal law. The good news is that legislation is moving.

The House Financial Services Committee held its first-ever hearing on this topic earlier this year and soon after it passed the ABA-backed Secure and Fair Enforcement Banking Act–an important step toward providing regulatory and legal clarity–with a strong, bipartisan 45-15 vote. A House floor vote could happen in the coming weeks.

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

To be clear, ABA is not taking a position on the legalization of marijuana. But we believe that allowing cannabis businesses access to the regulated banking system in states where they have been legalized would make them safer, bring more transparency and accountability to the industry and better protect communities.

These are worthy goals.

Successful enactment of cannabis banking legislation this year would serve another worthy goal: Demonstrating that bipartisan solutions to societal problems are still within reach, even with a divided Congress.

Our experience with S. 2155, last year’s landmark regulatory reform law, proved that Washington can work and that banking is bipartisan. We look forward to replicating that success this year on this important policy issue and others.

The SAFE Act specifies that proceeds from cannabis-related legitimate businesses would not be considered unlawful under federal money laundering rules or other laws, and it would direct regulators to issue guidance and exam procedures for banks that serve cannabis-related legitimate businesses.

Similar legislation has been introduced in the Senate. While the path forward in that chamber will take more work, we are hopeful that a bill can pass there as well.

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WELCOME

Strategic Resource Management In choosing new Preferred Vendors, the SCBA places a strong emphasis on reviewing and ensuring that the candidate who is chosen demonstrates a well-roundedness in industry knowledge, abilities, and care that serves the best interest of our members. This selection process is of great importance to us and is never completed without heavy consideration.

Strategic Resource Management (SRM) is comprised of a team of industry veterans whose close familiarity with payments, vendors, and contract management practices allows them to assist clients in vendor selection and negotiations. Led by industry-leading subject matter experts, a proprietary database, and proven negotiating skills, SRM has provided more than 700 financial institutions with vendor, payment, and opportunity solutions resulting in more than $2 billion in value. Their dedication to giving bank a competitive edge, as well as prioritizing enhanced value, makes SRM the ideal vendor for cost savings and revenue growth advisory services at SCBA. We are thrilled to welcome them to the SCBA family as our newest Preferred Vendor!

Here are some testimonials from SRM’s previous clients: “We negotiate directly with most of our vendors, but there are areas where subject matter expertise is invaluable. Card branding is one of those areas. The SRM team was able to step in, organize our options, and explain clearly the benefits of each. All the work they did represented hours we could spend on other priorities, and if we had invested those hours we would still not have the breadth of knowledge we found at SRM.”

— David Richey, CFO of First State Bank

“SRM discovered sizeable ways for us to cut costs. They found that some contracts that were appropriate for us a decade ago no longer offered the best terms. They delivered on their promise to improve our bottom line, and there was absolutely no risk. They have a depth of knowledge and experience that led to dramatic savings for us, which was like found money. In addition, SRM negotiated better terms for us and we didn’t even have to make a transition to another vendor. It was a win for everybody.”

— Brad Tidwell, President & CEO of Citizens National Bank

Reach out today to SRM’s representative Dana Davis, SRM’s Senior Vice President for a free initial analysis for cost savings and revenue growth opportunities at (704) 906-0440, or by email at ddavis@srmcorp.com.

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having multiple states in one region utilizing the product together, the pool of available talented candidates will grow exponentially.

The intention is to show the full scope of available jobs, from operations and human resources to financial management and marketing.

The state banking associations of Alabama, Georgia, North Carolina and South Carolina are thrilled to announce the unveiling of BankTalentHQ. BankTalentHQ is designed as a talent management resource for the financial industry and is brought to you by 20 state banking associations across the country. BankTalentHQ is the premier talent management site for financial industry careers.

BankTalentHQ works to connect employers with top talent coming from inside and outside of the banking industry.

The state banking associations of Alabama, Georgia, North Carolina and South Carolina have all made an individual commitment to a group effort that will undoubtedly bring success to the banking industry. These associations have one common vision and by moving forward together through teamwork and collaboration, will be able to overcome many challenges faced in the past. Carolyn Bradley, Senior Vice President of the South Carolina Bankers Association, says, “Our member banks will have the ability to use all the industry-specific search and recruitment tools offered by BankTalentHQ. We are in an exciting industry with endless opportunities, and BankTalentHQ will help fuel the passion of potential candidates, drawing them into the industry.

We are excited to bring this opportunity to the southeastern part of our nation and we hope you are just as excited to hop on board with us!”

The main focus for the website, located at banktalenthq.com, will be the job board, which will allow you to post job openings and internships for your institutions. While posting jobs is one way to utilize BankTalentHQ, the website offers several ancillary services including industry news and articles, resume writing, career learning center, and coaching. While the products are being offered across the nation, it is a top priority to make the site customizable to your institution. Additional services like career paths, job summaries, executive recruitment and outplacement are in development. The goal is to provide a nation-wide, industrywide resource that can be customizable to the exact needs of your institution.

BankTalentHQ is marketing to ideal candidates outside of the industry to pique their interest in banking careers, the key to driving additional talent into the financial services industry. By

In order to gather the top talent we are searching for, we need help from as many Georgia, North Carolina and South Carolina banks as possible. The more jobs posted, the easier it will be to build the talent pool of resumes. For a limited time, the SCBA will be offering FREE postings for banks and Associate Members in our states.

Please connect with Casey Widholm, BankTalentHQ Marketing Manager at cwidholm@banktalenthq.com or 217.789.9340 for your Free Posting Promotion Code or if you have questions about BankTalentHQ.

www.banktalenthq.com Our Preferred Vendors provide top quality service, offer generous benefits, and can add value to each institution. SCBA members value and appreciate the level of integrity associated with our Preferred Vendors Program. For a full listing, check out our website.

You may also contact Carolyn Laffitte Bradley, (803) 779-0850 or carolynbradley@scbankers.org for more information.

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F I R S T Y E A R O F L E G I S L AT I V E S E S S I O N E N D S W I T H

SCBA Bills Passed 2020 BUT MORE ISSUES TO BE HANDLED IN By: Neil Rashley, SCBA Senior Vice President and Counsel

The South Carolina General Assembly finished the first year of its two-year session on May 9th, returning the week of May 20th to finalize the state budget and wrap up a few limited issues. They are set to return on January 14, 2020 for the second year of the session.

Significant statewide issues, such as education reform, possibly selling Santee Cooper, and the Carolina Panthers’ proposed move of their headquarters across the state line to Rock Hill took up considerable time. Education reform did move forward but the issue slowed as more work needed to be done; a compromise was reached to accept bids on selling or managing Santee Cooper; and the bill offering incentives to the Carolina Panthers was approved.

Although there was no major banking issue (such as last session’s credit union bill) in 2019, there were a number of bills supported

by SCBA that were enacted and those bills that weren’t enacted did move forward favorably and will be taken up next year, starting in the same place they ended in 2019.

Following is a summary of significant bills passed affecting banking and then those bills that are still pending for 2020. The text for all bills can be found at www.scstatehouse.gov.

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BILLS ENACTED AFFECTING BANKING Community Development Corporation Tax Credits For years, South Carolina’s banks have invested in community development corporations and taken advantage of the tax credits granted for those investments.

However, the CDC program was set to expire and all authorized credits had been dispersed. H4133, signed by the Governor, reauthorized the CDC tax credit program and also the tax credits in the amount of $1 million for each year to the program. With the new program investors in CDCs receive a 50% tax credit on their donations.

Industrial Hemp South Carolina’s existing hemp farming program received a welcome boost as the General Assembly passed H3449, which establishes a program that is complaint with the USDA’s new hemp program.

With H3449, the SC Department of Agriculture will now apply to USDA for approval of the SC hemp plan, and, upon approval, it will be able to grant unlimited licenses to hemp producers. Present licensees are grandfathered in to the new program and can still operate while USDA approval is pending.

Flat Recording Fees

Account Data Sharing with the Department of Revenue

H3243, signed by the governor, modernized South Carolina’s fee structures for filings in Register of Deeds offices by establishing a flat fee system for recording real estate related documents and eliminating all per-page fees. Although the fees for deeds will increase to $15 and for mortgages to $25, overall fees at closings should now be reduced as the per-page fees are gone.

Eliminating those fees will also make disclosure of fees at residential real estate closings easier as there will be less chance of fees changing after the initial disclosure to the borrower. The new fees become effective on August 1, 2019.

S323, signed by the governor, establishes a process for the Department of Revenue to request from banks account data concerning taxpayers that are more than 180 days delinquent in paying taxes.

This process is similar to the existing data-sharing agreement that Child Support Enforcement has been using with banks. Per the new law, DOR will make quarterly requests to a bank, unless the bank agrees otherwise, and the bank can request reimbursement from DOR for the actual costs of retrieval. SCBA successfully asked for the bill to be amended to provide legal immunity to banks for releasing the data.

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TOP BANKING ISSUES PENDING FOR 2020 Tax Reform To start the session both chambers convened special committees to study comprehensive tax reform. The Senate committee met only once, making a few observations but postponing their work and any conclusions until 2020; however, the House Special Tax Study committee met numerous time and submitted two bills, one concerning individual income tax (H4334) and one on sales tax (H4532). The House committee did not address corporate income tax or property tax. As written, H4334 and H4532 will have a significant impact on banks and their customers as both bills take the approach of establishing a lower, flat rate by eliminating almost all credits, deductions and exemptions.

The individual income tax reform plan in H4334 sets an initial rate of 4.85% that will gradually lower to 4.5% in five years; presently the rate is 7%. Typically, an individual income tax bill would not affect banks but H4334 eliminates the tax credit that shareholders of S Corporation banks. Unlike other S Corps, the S Corp bank entity still pays a tax on its income via the bank franchise tax. However, the S Corp shareholders also pay income tax on the same revenue since an S Corp bank is a pass-through entity. Present South Carolina law allows these shareholders a credit against their pro rata share of the tax so that there is not double taxation on the bank’s income. H4334 eliminates the credit and would allow the state to tax the same revenue twice – once from the bank via the franchise tax and then again from the shareholders via the income tax.

Likewise, the sales tax bill, H4532, eliminates many exemptions; but it also greatly expands the sales tax to numerous services in order to achieve a new state sales tax rate of approximately 3%.

Exemptions would be phased out over three years and taxation of services would

be phased in over three years. For banks and their customers, the changes could be significant as H4532 eliminates the sales tax exemption for fees charged for ATM transactions, and, most importantly, now imposes a sales tax on most financial services provided by banks. These new sales taxes could result in substantial costs passed on to consumers so bankers should stay aware of these proposals.

Both chambers are expected to take tax reform and these bills up in 2020 and SCBA will be closely following the tax reform issue throughout this session.

standards with a greater emphasis on personal finance. Those standards were recently adopted and will be part of the Department’s 2020 Social Studies curriculum standards.

Finally, student loans were also part of the financial literacy discussion. H3199, passed favorably by the House Education committee, added student loan education as a required subject to be taught in the present financial literacy curriculum.

Although the bill is still pending, the Department of Education’s new standards did specifically include instruction on student loans.

Financial Literacy In 2006, South Carolina enacted the Financial Literacy Act, adopting many provisions designed to emphasize instruction of economics and personal finance in South Carolina’s schools.

Thirteen years later, in this session, the General Assembly held a number of hearings to review the Act and bills designed to update the Act. One of the main proposals in these bills, particularly S15 and H4149, was to change the present curriculum to require personal finance courses for graduation, as opposed to just economics, and to test students on this material. SCBA tested in favor of these bills and part of that testimony was backed up by a 2014 Federal Reserve study that found that in states that required personal finance education and testing, that students saw increased credit scores above those students in states where there was no testing.

Substantive hearings were held on both bills but one of the main obstacles was that this required testing would have a $5 million impact on the Department of Education and local school districts.

This impact caused legislators to slow the issue down for more study; however, the Department of Education did testify that it had drafted new curriculum

Fin Tech Sandbox/Blockchain Technology Two bills, S738 and H4351, were introduced late in the session and seek to establish South Carolina as an incubator for financial technology industries using blockchain technology. The bills are modeled after recent enactments in Utah, Wyoming and Arizona. Primarily they create a Financial Technology Sandbox for the testing of financial products and services in South Carolina and permit a “light” regulatory framework for these industries. Both bills will probably be taken up in 2020.

Medical Marijuana South Carolina is one of only sixteen states that has not fully legalized the medical use of marijuana and S366, the bill that legalizes the medical use of cannabis, still has a long way to go for passage. S366 is limited in scope and would make cannabis legal for only certain medical purposes. After numerous meetings, the bill is still in the senate Medical Affairs committee and will be taken up next year.

Still, S366 has many supporters, so an extended debate is expected in 2020. For banks, S366 contains a safe harbor from

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(continued from page 13)

prosecution that, if S366 passes and marijuana remains illegal under federal law, a bank that does business with an entity or person involved with medical cannabis cannot be prosecuted by state or local authorities.

Electronic and Remote Online Notaries In 2019 both the Senate and House introduced bills, S486 and H3917, that would authorize electronic and remote online notaries in South Carolina. Both bills are based on model acts proposed by the Mortgage Bankers Association and the American Land Title Association and enacted in other states such as Texas, Tennessee, Virginia and Montana. Just as with present law, the Secretary of State’s office would handle these registrations

and would also be tasked with adopting security standards for these notaries.

The Senate passed S486 and sent it to the House. The House Judiciary committee amended H3917 by making it identical to S486; yet both bills were sent to the Ways and Means committee for further study on their financial impact. SCBA is hopeful that these issues will be resolved and one of these bills will pass in 2020.

Affordable Housing Tax Credits Introduced in the House, H3998 creates a state income tax credit for affordable housing investments, similar to the existing federal tax credit program administered by the State Housing Finance and Development Authority.

The House passed the bill, adopting an amendment that allows community

input into the project scoring system administered by the Housing Authority.

H3998 is now in the Senate Finance committee and SCBA will be working for its passage in 2020.

The General Assembly will be busy on many issues, including these, when it returns in January. Additionally, both the Senate and House are up for re-election and that will certainly affect how issues are handled. SCBA greatly appreciates its bankers’ involvement in public advocacy and input on bills and issues. For further information on getting involved with SCBA advocacy or for more information on these issues, please contact Neil Rashley at nrashley@scbankers.org.

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Annual Conference

2019 YOUNG BANKERS DIVISION

The Young Bankers Division Annual Conference is a fantastic opportunity to make new friends, establish, cultivate and maintain client relationships and learn about the critical issues facing bankers and the banking industry today. On March 8-10, over 200 bankers, associates, spouses and guests gathered in mountain city of Asheville, known for its funky and eclectic downtown, vibrant arts, historic architecture and burgeoning culinary scene, for the Annual Conference. One of the most important initiatives of the SCBA is to facilitate peer-to-peer interaction for our member banks and business-to-business interaction for our banks and associate members. The business sessions and special activities throughout the 2019 Conference created an opportunity for just that. Chairman Chase Talbert, The Bank of South Carolina was delighted to present a conference with a diverse and varied array of speakers able to talk on a range of important topics. Talbert said, “Our goal as a board is always to provide attendees the opportunity to hear from speakers who are passionate about sharing not only valuable insights into the banking industry and economy, but also wisdom we can apply to our everyday lives as we continue to emerge and establish ourselves as leaders in our banks, our industry and our local communities.”

The acquisition and dissemination of knowledge is vital to our efforts, our industry and the future of South Carolina.

Attendees heard from experts and professionals ranging from a South Carolina Banking Legend to a South Carolina College Football Legend. These speakers included Mark Vitner, Managing Director and Senior Economist, Wells Fargo Securities, LLC; Joe Micallef, Sales Strategist & Coach, Grow UP Sales; Molly M. Spearman, South Carolina State Superintendent of Education and Hugh C. Lane, Jr., Chairman, The Bank of South Carolina. The

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keynote speaker for the 2019 Conference was Congressman Ralph Norman, representative of the Fifth District of South Carolina. On Saturday morning, Marcus Lattimore, Director of Player Development at University of South Carolina, led an inspirational prayer breakfast that even Clemson fans enjoyed!

Building a strong network and cultivating relationships is equally as important as the educational components of this Conference. The SCBA planned special events for attendees on Saturday afternoon that included touring the sites and bites of Asheville, playing a round of golf or relaxing in the beautiful Omni Grove Park Inn. The Conference concluded with dinner and “A Night at the Races” on Saturday evening. Attendees dressed in their derby best—bow ties and big hats, seersucker and sun dresses, and had a ball enjoying a night of virtual horse racing.

One of SCBA’s newest Associate Members and Preferred Vendors, Matt Mingenback, Director of Sales, FiTech had this to say, “The Young Bankers Conference gave us an opportunity to build relationships with various bankers across South Carolina and to learn what issues in banking are most important to them. Our involvement in the conference— without question—helped us establish a solid foundation to build on throughout the next few years. The sessions were phenomenal and my favorite part was the Kentucky Derby party!”

Elizabeth S. “Betsy” Steifle, Bank of Travelers Rest, was elected to serve as Chairman of the Young Bankers Division Board for the 2019-2020 SCBA year and she is excited to announce the 2020 Conference will take place March 6-8 at The Ritz-Carlton Reynolds, Lake Oconee, Greensboro, GA.

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Young Bankers Division

POL I T I CAL

Advocacy By: Neil Rashley, SCBA Senior Vice President and Counsel

In 2019, the Young Bankers Division not only continued its state and federal advocacy efforts by visiting the State House and Washington, DC but increased them even more by getting out into their communities and meeting their elected officials. The goal is to let these elected officials know who these young bankers are as they are the future business leaders of the community and to make these legislators aware of what banking does for their communities.

In February, a group of about 20 young bankers visited the State House and met with key legislative leaders. First, Chairman Bill Sandifer of the Labor, Commerce and Industry committee spent some time discussing pending business and banking legislation in his committee.

Then, our young bankers expanded their knowledge of State House issues and met with Chairwoman Rita Allison of the House Education committee. Chairwoman Allison engaged the group with her review of the significant education reform bills in her committee. In the Senate, the young bankers had a wonderful joint meeting with Senate Majority Leader Shane Massey, Chairman Ronnie Cromer of the Banking and Insurance committee, Chairman Thomas Alexander of the Labor, Commerce and Industry committee, Chairman Luke Rankin of the Senate Judiciary committee and Chairman Paul Campbell of the Senate Agriculture committee.

The annual SCBA Washington Trip was in April and three members of the Young Bankers Board attended—Jennifer Jones of CBL State Savings Bank, Past Chairman, Betsy Steifle of the Bank of Travelers Rest, 20

Chairman and Chase Talbert of The Bank of South Carolina, Chairman. Again, this was an educational trip as the group met with members of South Carolina’s congressional delegation and attended the ABA Government Relations Summit, including the Emerging Leaders Forum.

Most importantly this year, the Young Bankers Board began a significant advocacy initiative designed to get more young bankers involved in their communities—meeting their local elected officials, discussing the importance of banking in those communities, and what the Young Bankers Division’s efforts in financial literacy and teaching college students about banking career options.

Groups of two to three board members met with their local senators and representatives during the last six months not only discussing these issues but also establishing positive relationships with these elected officials that will last for years.

Finally, the Young Bankers Division began a grassroots contacts program asking young bankers what elected officials they know and how they know them.

Bankers and elected officials change over the years and it is important to SCBA that we learn about these new relationships.

The success of that program led SCBA to expand these efforts to all bankers.

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If any young banker would like to get involved in the Young Bankers Division advocacy initiatives or if any banker wishes to participate, please contact Carolyn Laffitte Bradley or Neil Rashley at SCBA. Getting banking’s message out to our local leaders is critical to our banks and their communities.

Young Bankers Division

2019 PALMETTO

scholarships

We understand that many students today find themselves burdened by tremendous debt upon graduation. The Palmetto Scholarship has awarded thousands of dollars to students statewide over the years through money raised at our Scholarship Golf Tournament and the SCBA Education Foundation.

By offering the Palmetto Scholarship to children of bank employees and part-time employees who are also students and meet criteria, the SCBA seeks to help students pursue higher education while also helping lay the foundation for the next generation of South Carolina’s leaders.

We are pleased to announce that we were able to award $66,000 to deserving students this year.

A celebration of this honor was held on May 21st at The Palmetto Club in Columbia.

Congratulations to the following students: AMERIS BANK

BANK OF AMERICA

Rachel Anderson, University of South Carolina, daughter of Tina Anderson Scott Samson, University of South Carolina, son of Brian Samson

Addie Cromer, University of South Carolina, daughter of Kevin Cromer Katherine Giraldo Escobar, Clemson University, daughter of Rosalia Escobar LaCourtney Jackson, Clemson University, employee Bri Kennedy, Presbyterian College, daughter of Stephen Clyburn Taylor Ramsue, College of Charleston, daughter of LaTasha Gandy Leanne Schutz, Coastal Carolina University, daughter of Dawn Schutz Caroline Trembly, Clemson University, daughter of Mark Trembly

ANDERSON BROTHERS BANK Summer Goewey, University of South Carolina, daughter of Dean Goewey

ARTHUR STATE BANK Grayson Fallaw, Presbyterian College, son of John Fallaw

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BANK OF TRAVELERS REST

HOMETRUST BANK

Skylar Hicks, Coastal Carolina University, daughter of Kelly Eldridge Kayelin Talley, Clemson University, daughter of Christopher Talley

Sam Gooding, College of Charleston, son of Ron Gooding

BB&T Tristyn Peterson, University of South Carolina, son of Amanda Peterson

CAROLINA ALLIANCE BANK Halley Gainey, Clemson University, daughter of Tina Gainey Kaylin Rogers, Anderson University, daughter of Gina Rogers

CAROLINA BANK & TRUST CO.

PALMETTO STATE BANK Will Gooding, Clemson University, employee

SOUTH ATLANTIC BANK Will Monts, Clemson University, son of Michelle Pennell Austin Siau, University of South Carolina, son of Danny Siau

SOUTH STATE BANK

Morgan Roberts, University of South Carolina, daughter of Chris Roberts

Haleigh Kauffmann, Winthrop University, daughter of Greg Kinkade Rachel Spitzmiller, College of Charleston, daughter of Mike Spitzmiller Jayme Chisholm, South Carolina State University, daughter of Mary Chisholm LeighAnn Faulkner, College of Charleston, daughter of Rob Faulkner Eli Goodwin, Anderson University, son of Marty Goodwin Reagan Kilpatrick, College of Charleston, daughter of Carl Kilpatrick Abbie Kline, College of Charleston, daughter of Katie Moore Amy Petrolawicz, College of Charleston, daughter of Lee Petrolawicz Brittany Shelley, Coastal Carolina University, daughter of Becky Shelley Marshall Westbrook, Wofford College, son of Andy Westbrook

CRESCOM BANK

SYNOVUS

*Kaitlyn Coleman, North Greenville University, daughter of Angela Coleman *Shane Peters, Coastal Carolina University, son of Helen Peters

Jessica Coffin, Winthrop University, daughter of Byron Coffin Parker Futrell, Erskine College, son of Kevin Futrell Allie Kyber, Clemson University, daughter of Neal Kyber

Zoe Geddie, Francis Marion University, employee

COASTAL CAROLINA NATIONAL BANK Eugene Utley, Clemson University, son of Maura Utley

COASTALSTATES BANK MaryAllan Dolyniuk, Winthrop University, daughter of Randy Dolyniuk

COMMUNITY FIRST BANK TJ Galloway, Anderson University, son of Sheila Galloway

CONWAY NATIONAL BANK Audrey Hinson, University of South Carolina, daughter of Anita Hinson

COUNTYBANK

FIRST CITIZENS Houston Bennett, Coastal Carolina University, son of James Bennett Boyce McCool, University of South Carolina, son of Gerald McCool Morgan McCrary, Wofford College, daughter of Vicki McCrary Oliver Tucker, Clemson University, son of Angelia Henry

FIRST COMMUNITY BANK Riley Branham, University of South Carolina, daughter of Charlie Branham Rachel Hair, University of South Carolina Aiken, employee Peter Jones, Anderson University, son of Kevin Jones Andrew Lyon, University of South Carolina, son of John Lyon Whitney Roberts, University of South Carolina, daughter of Gina Roberts

FIRST RELIANCE BANK Isaac Smith, Winthrop University, son of Catherine Smith

GRANDSOUTH BANK Beale Wood, Clemson University, son of John Wood Mary Wallace Martin, Furman University, daughter of Patrick Martin

TD BANK, N.A. Addison Blome, Coastal Carolina University, daughter of Geoff Blome Jessica Lane, University of South Carolina, daughter of Craig Lane Rebecca Little, Furman University, daughter of Lucinda Little Vedanti Patel, University of South Carolina, employee Aditya Pradhan, University of South Carolina, son of Preeti Pradhan

UNITED COMMUNITY BANK Caroline Currey, Clemson University, daughter of John Currey Madeline Durrell, Clemson University, daughter of Bill Durell

WELLS FARGO Will Holstein, Clemson University, son of Elizabeth Holstein Madeline Huffman, Clemson University, daughter of Vivian Huffman Forrest Redden, Clemson University, son of Rick Redden *Denotes students who won the Donna Major & Katie Skeen Palmetto Scholarships

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When Cashflow is YOUR LIFELINE Look to A/R Funding

800-756-3386 www.arfunding.com

Save the date

SCBA BankPAC Sporting Clay Tournament Fundraiser WEDNESDAY, NOVEMBER 20, 2019 The Young Bankers Division will host the first BankPAC Sporting Clay Tournament at The Palmetto Shooting Complex, Edgefield, SC. The proceeds from this tournament will be contributed to the SCBA StatePAC. Save the date for this special day. Sponsorships will be available.

For more information about the tournament: Carolyn L. Bradley, carolynbradley@scbankers.org For more information about the SCBA’s BankPAC: Donna S. Taylor, dtaylor@scbankers.org

SCBA Webinars:

another source for your training needs!

The SCBA has partnered with Total Training Solutions to provide webinars to your financial institution on topics most important to the success and compliance of your bank. Whatever your online training needs may be, SCBA/TTS can assist you. We have webinars ranging from customer service to sales to underwriting—and everything in between. We can’t wait to show you how we can make your job easier!

Visit scbankers.org/webinars to learn more about the SCBA/TTS webinars and to see the schedule for a myriad of topics. There are over 63 webinars to choose from.

HERE IS A SAMPLING OF UPCOMING WEBINARS: JULY 1....................Troubled Debt Restructuring JULY 9....................Dealing with Dysfunctional Teams JULY 11..................Lending to Local Government Units JULY 17..................Introduction to Commercial Lending JULY 25..................Online Deposit Account Opening AUGUST 1...............Accounts Receivable and Inventory Financing AUGUST 8...............Deposit Compliance Issues AUGUST 15.............Compliance Management AUGUST 22.............Driving Results with Your Bank’s Data AUGUST 27.............Writing Effective Email

Visit www.scbankers.org for new webinars added daily.

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There’s lending, and there’s intelligent lending.

The tools to succeed in every stage of your lending lifecycle.

Learn more at spglobal.com/commercial-lending Market Insight & Lead Generation

Portfolio & Lender Performance Analysis

Pricing & Total Relationship Optimization

Credit Surveillance & Portfolio Tracking

Credit Analysis & Assessment

Copyright © 2019 S&P Global Market Intelligence Inc. All rights reserved.

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E ducation and P rofessional D evelopment

COMMUNITY BANKERS

spring peer group

70% After questioning our division, 70% of the responses asked to hear about BSA compliance.

We put together a panel of bankers that have been involved with regulators in this capacity and held a very interactive discussion and panel on this topic.

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The event was attended by 30 bankers from across the state.

We also had two representatives cover FinTech and the impact for community banks.

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The attendees also heard from a very special guest, General Glenn Walters, President of The Citadel.

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MAY 15, 2019

SCBA Mortgage Bankers C O N F E R EN C E

“The Mortgage Bankers Committee was extremely pleased with the inaugural SCBA Mortgage Bankers Conference. We worked quickly to organize and coordinate this event and could not be more excited to see what the future holds for this committee. The feedback received was positive and very complimentary of the speaker topic relevance.

Our attendees represented financial institutions from across the state. We appreciated the excellent support of SCBA member mortgage bankers!”

— Travis A. Minter, Chairman, SCBA Mortgage Bankers Committee

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New

M e mb e r s

Welcome

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

ASSOCIATE MEMBERS Affordable Equity Partners 206 Peach Way Columbia, MO 65203 573.443.2021 www.aepartners.com

Affordable Equity Partners, Inc (AEP) is a financial resources company that provides a full range of services for developers and investors in the Section 42 LIHTC Program. AEP has been involved in over 400 tax credit developments and has syndicated over $3 billion in Federal and State Tax Credits.

Ellen Vossbrink 206 Peach Way Columbia, MO 65203 573.443.2021 evossbrink@aepartners.com

Compensation Advisors 411 South State Street, 3rd Floor Newtown, PA 18940 866.796.6222 www.compensationadvisors.com

Joseph R. Llewellyn IV (JR) 1671 Carriage Ridge Drive Greensboro, GA 30642 678.427.1015 jr.llewellyn@compensationadvisors.com

Compensation Advisors, a member of Meyer-Chatfield Group, is recognized as a leader in compensation consulting, serving financial institutions and firms nationally. Compensation arrangements for executives, directors and staff are best considered when aligned with the company’s culture, values, and business strategy. We work with management, boards, individuals and institutions, delivering services and solutions that maximize value. We provide solutions and strategies that assist with recruiting, retaining and rewarding top-tier employees.

Our experts help organizations stay abreast of industry trends and developments while maintaining a competitive edge.

We have the tools and resources to deliver Insightful Solutions with Proven Results.

Eclipse Brand Builders 5050 Research Ct., Suite 600 Suwanee, GA 30024 678.894.4360 www.eclipsebrandbuilders.com G. Michael Smith 5050 Research Ct., Suite 600 Suwanee, GA 30024 678.894.4360 msmith@eclipsebrandbuilders.com

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Eclipse Brand Builders is a leading provider of design-build services based in Suwanee, Georgia. Having completed more than 600 facility programs, including new construction, renovations/remodels and tenant fit-outs, our in-house team of professionals has extensive experience providing consulting, branding, architecture, interior design, furniture procurement, and construction management services to banks throughout the Southeast.

Hunton Andrews Kurth LLP 2200 Pennsylvania Avenue NW Washington, DC 20037 202.955.1500 www.huntonak.com

Hunton Andrews Kurth LLP is a law firm created by the 2018 merger of two preeminent firms, each more than a century old: Hunton & Williams and Andrews Kurth Kenyon. With 1,000 lawyers in the United States, Asia, Europe and the Middle East, the firm serves clients across a broad range of complex transactional, litigation and regulatory matters.

Heather Archer Eastep 8040 N. Park Street Dunn Loving, VA 22027 202.955.1954 heastep@huntonak.com

The combination brings together two internationally preeminent energy practices, uniting a tier one oil and gas practice with a tier one power practice. It also integrates two deep, diversified corporate and finance practices, strengthening already robust capabilities in capital markets, private equity and structured finance. The firm now has one of the largest full-service litigation practices in the country, with particular depth in the key litigation markets of Texas, California, Florida and the Mid-Atlantic.

Hunton Andrews Kurth brings together multiple widely recognized industry-leading practices, including privacy and cybersecurity, intellectual property, environmental and P3, public finance and infrastructure.

Resurgent Performance, Inc. 4920 Atlanta Highway, Suite 309 Alpharetta, GA 30004 770.664.9239 www.resurgentperformance.com

L. T. “Tom” Hall 4920 Atlanta Highway, Suite 309 Alpharetta, GA 30004

770.598.7637 lthall@resurgentperformance.com

Strategic Resource Management, Inc. 5100 Poplar Ave., Suite 2500 Memphis, TN 38137 901.681.0204 www.srmcorp.com

Dana P. Davis 17114 Bridgeton Lane Huntersville, NC 28078 704.906.0440 ddavis@srmcorp.com

Resurgent Performance Inc. is a partner to community banks seeking profitably and growth opportunities, as well as already High Performing institutions seeking continuous change and process improvement. RPI’s customized services enable financial institutions to reach higher levels of performance quickly and for the long-term.

From bank-wide Transformational Change engagements to area specific projects, such as Lending Optimization, Marketing Assessments, Non Interest Income Enhancement, and Core Processing Evaluations, Resurgent Performance always guarantees positive change and bottom-line results. With decades upon decades of experience, our team is passionate about positioning community banks to be High Performance leaders.

SRM (Strategic Resource Management) has been selected by more than 700 financial institutions to advise in areas such as payments, digital banking, core processing, and operational efficiencies. The company has unlocked billions of dollars in value and improved the competitive advantage of its clients with a reputation for industryleading subject matter expertise, a proprietary benchmark database, and proven negotiating skills. SRM Offers: • Experienced, highly specialized advisors in all facets of banking management • Fair-market benchmark analyses using data from hundreds of peer institutions • Strategies approaching disruptive tech trends in today’s payments and banking industries • Non-disruptive, flexible project-based engagements SRM delivers success by employing its proprietary benchmark database, proven negotiation skills, and industry experience. The firm’s consulting services span areas such as: • Payments • Vendor Management • Portfolio Optimization • Core Processing

• Intelligent Automation • Operational Efficiencies • Digital Banking

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Credible. Timely. Competitive.

Compass South Appraisals specializes in appraising commercial and agricultural properties.

There are very few appraisal companies that seek this kind of specialization.

Locations Served • Agriculture and Timberland appraisals are provided in all counties below • Commercial property appraisals provided in the blue highlighted counties below

Typical Examples Include • Offices • Retail Spaces • Industrial Buildings • CAGE Animal Operations • Agricultural & Timberland • Orchards

843-538-6814 | PO Box 1766, Walterboro, SC 29488 | www.CompassSouthAppraisals.com Email Requests to: officemanager@CompassSouth.com 30

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Personal

Transactions

Ashley Bean

Diana Bernal

Shane Johnson

Ashley Jackson

Kentley Lipps

Holly West

Hannah Eades

Bradley Cox

Mac Hogan

Kimberly Blackwell

Andrew Howard

Katie Melton

Amanda Olson

Alisa Suddeth

Julie Whitfield

James H. Wilson, Jr.

Bill Looby

Dawn Kinard

Russell Vedder

David Charpia

John Golding

Chris Fincher

Cynthia O’Dell

ABBEVILLE FIRST BANK Dr. Larry Lawson has elected to retire from the Board of Directors effective May 1. Anne Marie Hempy will fulfil the remaining term of Dr. Lawson.

AMERIS BANK Ameris Bank has named Brian Horton senior vice president and commercial banker.

ANDERSON BROTHERS BANK Ashley Bean, Director of Training/Retail Operations Manager has successfully completed the John C. Maxwell Certification Program.

Diana Bernal and Shane Johnson have joined Anderson Brothers Bank as Universal Bankers in the Grissom Office.

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Ashley Jackson has joined Anderson Brothers Bank as a Loan Assistant in the Mullins main office.

Mac Hogan has joined its Spartanburg office as Vice President, Relationship Manager.

Kentley Lipps has joined Anderson Brothers Bank as a Universal Banker in the Common Market office.

COMMUNITY FIRST BANK

Holly West has been appointed Branch manager of the Myrtle Beach Grissom Parkway Office.

Kimberly Blackwell has been promoted to Vice President and Commercial Lending Officer in Anderson County.

BLUE RIDGE BANK

Andrew Howard has joined the bank as Senior Vice President and Commercial Lending Officer in Charlotte, NC.

Hannah Eades has joined the Bank’s Operations Department as Operations Specialist.

Katie Melton has been promoted to Vice President and Director of Human Resources.

CAROLINA ALLIANCE BANK

Amanda Olson has joined the bank as Assistant Vice President and Branch Manager in Anderson County.

Bradley Cox has joined the Greenville office of Carolina Alliance as Vice President, Relationship Manager.

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Alisa Suddeth has been promoted to Senior Vice President and Chief Talent and Marketing Officer.

Julie Whitfield has joined the bank as Assistant Vice President and Branch Manager in Oconee County.

James H. (Hal) Wilson, Jr. has joined the bank as Assistant Vice President and Branch Manager in Greenville.

COUNTYBANK Tony Lawton has joined Countybank as Commercial Relationship Manager in the Upstate area.

CRESCOM BANK COASTAL CAROLINA BANK Jeremy A. Baird has been named Executive Vice President, Strategy & Services Director.

Krystal Furlough has been promoted to Senior Accountant.

Christine R. Houston has been named Executive Vice President, Chief Credit Officer.

Robert P. Hucks II has been named Executive Vice President, North Strand Market Executive.

James A. Kimbell III has been named Executive Vice President, Upstate Market Executive.

Justin M. Lee has been named Executive Vice President, Chief Lending Officer.

Bill Looby was hired as CCNB’s new Vice President,Mortage Loan Officer in Greenville.

Dawn Kinard has been named CCNB’S Executive Vice President, Chief Operating Officer.

Lori M. Smith has been promoted to Vice President, Garden City Branch Manager.

Maura L. Utley has been promoted to Senior Vuce President, Director of Marketing.

Russell A. Vedder has been named Executive Vice President, Chief Financial Officer.

Ryan Benton has been promoted to Regional Market Executive in the Charleston Market.

PINNACLE FINANCIAL PARTNERS Mary Garcia has been named the new regional president for the South Carolina coast.

SOUTH ATLANTIC BANK Karen Atwood has been named construction loan manager.

Jordan Miller has been promoted to Senior Vice President.

Derick Powers has been promoted to senior vice president, credit risk officer.

Jill Whisonant has been named Vice President and Branch Manager of the Meeting Street Branch in Charleston.

Mary Jo Rogers has been promoted to the new role of chief lending officer.

FIRST COMMUNITY BANK Joe Sawyer, CFO and David Proctor, Chief Credit Officer will retire effective July 31.

John Walker was appointed First Community’s new Chief Credit Officer.

Danny Siau has been promoted to Grand Strand regional executive, overseeing area executives in North Myrtle Beach, Myrtle Beach, and South Strand offices.

SOUTHERN FIRST BANK

GRANDSOUTH BANK

Southern First Bancshares, Inc., holding company for Southern First Bank, announces the appointment of Cal Hurst as Executive Vice President, Chief Banking Officer.

Kristi A. Eller has been named the new COO of GrandSouth Bank.

TD BANK

Terry Garner has been named Director of Deposit Operations at GrandSouth Bank.

TD Bank has named Chris Fincher as regional vice president for the Upstate market.

Rob Phillips has been promoted to Coastal Market Regional Executive at GrandSouth Bank.

UNITED COMMUNITY BANK

John Wood has been promoted to Upstate Regional Executive at GrandSouth Bank.

GrandSouth Bank Board of Directors welcomes three new members: John W. Shealy, Jr., Anthony Morgan, and Edward Monts Rast, Jr.

United Community Bank is pleased to announce veteran commercial banker John Golding as its new Head of Commercial Banking Solutions.

H. Lynn Harton, CEO has been appointed Chairman, effective May 8.

WELLS FARGO COMMUNITY BANKERS’ BANK

HOMETRUST BANK

James B. Smith, President and CEO of Sandhills Bank has been appointed to the Boards of CBB Financial Corp. and Community Bankers’ Bank.

David Charpia has been appointed Senior Vice President, Market President for HomeTrust Bank’s South Carolina Locations.

Cynthia O’Dell has joined Wells Fargo as a senior wealth planning strategist.

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Beyond Expectations As smart, practical business thinkers who see our clients’ needs holistically, we cut to the chase quickly, show up prepared and get it right.

With a rich history as one of the South’s largest law firms, Turner Padget’s depth of knowledge, technical strength and diverse experience makes us sharp, talented business thinkers with a strong understanding of what it takes to do business in the Southeast. Some describe us as “darn good lawyers.”

We like to think of it as being highly effective.

Celebrating 90 Years

Augusta | Charleston | Columbia | Florence | Greenville | Martinez | Myrtle Beach CEO C. Pierce Campbell, 843-662-9008

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5/22/19 10:07 AM

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Banking News

ANDERSON BROTHERS BANK Anderson Brothers Bank announces they have received approval to purchase property located at 11975 Highway 17 Bypass, Murrells Inlet at the corner of Hwy 17 Bypass and Inlet Square Drive, formerly BNC. Plans are to apply for permission from state and FDIC regulatory to establish a branch there later this year.

Anderson Brothers Bank congratulates Randy Altman for being presented from The Home Builders Association of The Greater Pee Dee the “2018 Associate Member of the Year Award.”

Randy Altman

Anderson Brothers Bank celebrated the grand opening of their newest branch located in the Myrtle Beach Community of Horry County at 1010 London Street on Thursday, June 13th.

BB&T BB&T Corporation and SunTrust Banks, Inc., announced Truist as the name for the combined company to be created through their merger of equals. Truist will be the sixth-largest U.S. bank holding company serving more than 10 million households in the U.S., with a leading presence in many of the most attractive, high-growth markets in the country.

CAROLINA ALLANCE BANK Carolina Alliance Bank has merged into Park National Bank.

COASTAL CAROLINA NATIONAL BANK Robert Hucks II, has been appointed to Horry-Georgetown Technical College’s Area Commission, the nine-member governing board of the college. He was appointed by Governor Henry McMaster.

CRESCOM BANK Joe Bonacci, Senior Vice President for CresCom Bank presented the 2019 John M. Settle, Sr./World Affairs Council of Charleston Awards to three Charleston County Public High School students at an awards ceremony on April 17th. The annual Settle Awards are named after John M. Settle, Sr., who was CEO of Community First Bank until 2002, and prior to being CEO he was Chairman Emeritus of Community First Bank, which later became CresCom Bank.

Charles “Chuck” H. Stuart and Curtis Loftis

FIRST CITIZENS BANK First South Bancorp, Inc. shareholders approved the sale of the company and its unit, First South Bank, to First Citizens Bank & Trust Co. The deal is effective May 1st.

FIRST RELIANCE BANK State Treasurer Curtis Loftis welcomes Charles “Chuck” H. Stuart to the South Carolina Board of Financial Institutions. Mr. Stuart was confirmed by the Senate to serve a four-year term on the state board. Stuart is the executive vice president of mortgage banking at First Reliance Bank, where he is responsible for all residential mortgage lending activities. He is a member of the Mortgage Bankers Association and is currently serving on the Board of Mortgage Bankers of the Carolinas. A Certified Financial Services Auditor, Stuart is also a member of the Institute of Internal Auditors.

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GRANDSOUTH BANK The Company plans to open its first full-service branch in Charleston through the conversion of its existing loan production office at 291 East Bay Street in the second quarter of this year. This new branch will allow for growth in core deposits following the substantial loan growth experienced at this same office.

PICKENS SAVINGS AND LOAN ASSOCIATION Pickens Savings and Loan Association, F.A. announced that it has entered into a definitive agreement to purchase the Six Mile, South Carolina, branch of Select Bank & Trust Company located at 115 North Main Street. The acquisition of the new Six Mile branch will expand Pickens Savings and Loan’s presence in Pickens County.

TD BANK, N.A. TD Charitable Foundation contributed $50,000 to the Greenville Housing Fund toward its equitable housing development program focusing on the neighborhoods that surround the city’s planned Unity Park and other parts of Greenville experiencing gentrification pressure.

UNITED COMMUNITY BANK

United Community Bank recently partnered with the Blue Star Mothers of America’s Greenville-Upstate chapter to send care packages to troops serving overseas. The packages were assembled by the bank’s SBA lending team and given to the Blue Star Mothers to be sent to active duty personnel from the Update.

WELLS FARGO Wells Fargo hosted their Community Service Super Saturday on April 27th. Hundreds of team members participated and volunteered at dozens of nonprofits. Region Bank Presidents Justin Hawkins and Jim Lawrence volunteered with their team members building a house in Greer with Habitat for Humanity of Greenville County, and helping clean up the marshes in Charleston with the Surfrider Foundation. In Spartanburg, Ethan Burroughs, business Banking leader, help the nonprofit Christmas in Action with renovations on a house and then he and a group of team members presented the nonprofit with a $15,000 grant from Wells Fargo.

Wells Fargo donated more than $5.3 million through 389 grants to South Carolina nonprofits, schools and community organization in 2018. The company’s South Carolina team members donated nearly $565,000. That means that nonprofits in the state received nearly $5.9 million from Wells Fargo and its team members in 2018. That amounts to an average daily donation of more than $16,000.

United Community Bank donated $2,500 to Mount Pleasant (HFAMP), a 501 (c) 3) nonprofit committed to fostering attainable housing.

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Loan Insights for Parents

Save thousands compared to the federal Direct PLUS loan.

We want what's best for you and your student, which is why we give you the knowledge and tools to make the best decisions for your financial future. See how our locally-funded and processed fixed rate PAL Parent Loan stacks up next to the federally-funded and processed Direct PLUS Loan.

Our SC PAL Parent Loan vs federal Direct PLUS Loan If you borrowed $20,000 and repaid over ten years, here's how it all breaks down¡: Federal Direct PLUS Loan

Fees

4.248%

Interest Rate

7.6%

Payment

$239

Total Interest

$8,613.02

Total Disbursed

$19,144.00

Lender

Borrow from the federal government

I I I I

PAL Parent Loan (uslogavg,,ate) 0% 6.114% (6.22%APR) $224 $6,782.46 $20,000.00

Borrow from a non-profit in SC

} Savings in interest and origination fees with us based upon SC PAL average fixed rate: Direct PLUS

Our Parent Loan

$9,463.02

$6,746.05

$2,680.56

Visit scstudentloan.org/save or call our local advisers at 1.800.347.2752 to start planning.

Variable rates are also available. Additional fees such as returned payment, late fees, etc., may apply.

* Our PAL fixed interest rates range from 3.88%-6.99% (3.95% - 8/83% APR) and includes a .25% reduction for automatic bank draft. The APR shown

in the illustration is based on a $20,000 loan amount with one disbursement and reflects the accruing interest, the effect of capitalized interest, an enrollment period consisting of at least four years of half-time enrollment, and making equal payments over the term of the loan. The APR varies with the length of the repayment period.

The interest rate for the federal Direct PLUS loan is valid between 7/1/18 and 6/30/19 and fees shown are valid between 10/1/18 and 9/30/19.

Rates for federal loans are set by federal law, not the U.S. Department of Education. Rate and fee examples for the Direct PLUS Loan were verified on the Federal Student Aid (FSA) site, studentaid.ed.gov, on 2/1/19. The savings shown in the sample assume both loan types enter immediate repayment after being fully disbursed and are paid in 120 on-time installments over a level ten year repayment term. (e) Payment amounts are rounded up to the nearest whole dollar.

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