ATLANTA–(BUSINESS WIRE)–Governor Brian P. Kemp signed SB
157 into law at the Community
Bankers Association of Georgia (CBA) headquarters today before a
group of community bankers from across the state.
SB 157 allows community banks, many of which are located in rural
Georgia, to accept local government’s funds and allows these banks in
turn to reinvest and loan monies back into their own communities and
spur economic activity. Increased lending will spur business growth,
jobs, and boost statewide economic activity. SB 157 was unanimously
passed by the legislature during the 2019 legislative session.
CBA’s President and Chief Executive Officer John McNair
stated, “We greatly appreciate Senator John Kennedy (R), Macon and
Representative Dale Washburn (R), Macon, for guiding the bill through
this legislative process. We are also thankful for our partnerships with
National Federation of Independent Businesses (NFIB), the Georgia
Municipal Association (GMA), and the Association of County Commissioners
(ACCG) in making this bill a possibility. SB 157 will change people’s
lives, and all of us at CBA are proud, honored and humbled to have had
the opportunity to impact Georgia’s community banking industry in this
most positive manner!”
Community banks are the primary providers of credit and banking services
throughout the state and play a vital role in helping the Kemp
administration fulfill its objective of further developing and growing
small businesses in Georgia. This bill will allow community banks to
compete with large, mostly out-of-state banks, for local municipal
accounts and deposits. Georgia’s community banks will be able to
dramatically increase lending in their local markets thereby helping
small businesses start and grow, funding homeownership as well as a
variety of agriculture and consumer loans.
Governor Brian P. Kemp stated, “By supporting small businesses
and local entrepreneurs, this legislation is another positive step
toward a new day in rural Georgia. I thank the General Assembly and the
Community Bankers Association for their hard work on this important
issue and their efforts to bring greater prosperity to all corners of
our state.”
“I am pleased and honored to have sponsored this legislation,” remarked
Senator John F. Kennedy, (R), Macon. “This is a ‘win-win’ for all of
Georgia, but especially rural Georgia, the local governments of Georgia
and our banking community who serve our businesses and help so much with
much needed economic development.”
“I’m so pleased to have been involved in the passage of this bill. It is
a good, practical piece of legislation that benefits local governments,
the banking community and economic development, especially in rural
Georgia,” commented Representative Dale Washburn (R), Macon.
The ceremony began with remarks by CBA Chairman Mr. Tim Jones (Citizens
Community Bank, Hahira), Senator John F. Kennedy (bill sponsor), CBA
President and CEO Mr. John McNair and CBA Director of Legislative
Affairs Mrs. Lori Godfrey. The Governor offered remarks, signed SB 157
and visited with community bankers afterwards. CBA hosted a brief
reception following the ceremony.
About Community Bankers Association of Georgia
Community Bankers Association of Georgia is a non-profit organization
serving community banks throughout Georgia for 50 years to enhance their
profitability and growth. CBA was founded in 1969 by a group of Georgia
community bankers to protect the political interests of locally-owned
community banks. Representing 150 community banks and nearly 200
associate member companies, CBA offers services in four distinct areas
which include political affairs, education, products & services and
networking. For more information about the Association, visit www.cbaofga.com
or call (770) 541-4490.
Contacts
John McNair
President and CEO
Community Bankers Association of
Georgia
770.541.4490
[email protected]
Lindsay
Greene
Vice President, Marketing & Member Services
CBA of
Georgia
770.541.0376
[email protected]
Emily
Banks
William Mills Agency
404-216-7924
[email protected]
