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Note 21 - Wealth Management Transactions
9 Months Ended
Sep. 30, 2013
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

21.      Wealth Management Transactions


As previously disclosed, effective June 28, 2013, the Bank transferred all of its trust-related accounts to Thomasville National Bank (“TNB”), a wholly-owned subsidiary of Thomasville Bancshares, Inc., pursuant to the terms and conditions of a Transfer Agreement. Contemporaneously with the transfer, the Bank also began an Office Support and Referral Agreement with TNB under which the Bank provides office space and other support services in its existing facilities to the TNB employees who provide the trust services. In accordance with the agreements, TNB assumed ownership of the accounts, certain trust employees of the Bank, and all operational and fiduciary responsibility for administering the transferred accounts under the underlying client account agreements. In exchange, the Bank earns a percentage of the ongoing revenues generated from the assets under management in the transferred accounts owned by TNB and any new accounts subsequently referred to TNB.


On August 1, 2013, the Bank began a Non-Deposits Investment Products Marketing Agreement (the “Marketing Agreement”) with Investment Professionals, Inc. (“IPI”), replacing a similar agreement with a different broker-dealer. IPI provides brokerage services to clients of the Bank, including acting as clearing agent, executing purchases and sales of securities products on behalf of and for the account of clients, and maintaining securities in client accounts as agent. Under the Marketing Agreement, the Bank provides office space and other support services in its existing facilities to the IPI employees who provide the brokerage services. In exchange, the Bank earns a percentage of the ongoing revenues generated from the brokerage assets managed by IPI under the Marketing Agreement.


Other than an immaterial amount of contract termination costs, execution of the agreements did not result in the Bank recording any gain or loss upon the consummation of these transactions.