Georgia Bar Journal
GSB Vol. 13, NO. 6, Pg. 52.
Banker Receives James M. Collier Award
GSB JournalVol. 13, NO. 6April 2007Banker Receives James M. Collier AwardLen HortonGeorgia Bar Foundation President J. Joseph Brannen presented the fifth annual James M. Collier award to Loyd L. Smith, a former bank executive with C&S Bank, at the Midyear Meeting of the State Bar of Georgia.
The award recognizes an individual who has done extraordinary work to assist the Georgia Bar Foundation in accomplishing its mission. It is named for James M. Collier, a Dawson lawyer who found extraordinary ways to expand the Georgia Bar Foundation's ability to assist law-related organizations helping needful people throughout the state.
According to President Brannen, "Loyd was instrumental in getting IOLTA off the ground at C&S and in helping develop IOLTA account procedures that both banks and the Georgia Bar Foundation use to this day. Without his assistance, it would have taken a lot longer to get IOLTA up and running in Georgia."
Loyd Smith in 1986 was assigned to implement Interest On Lawyer Trust Accounts (IOLTA) for C&S National Bank, then Georgia's largest bank. At the time no other major bank in Georgia had begun offering IOLTA accounts. Loyd saw IOLTA as a product to generate new business and to establish his bank's leadership in the legal community. As we worked together, he became more than a bank officer assigned to implement a new product. He became a member of my team, which was working to implement IOLTA throughout the state and at banks other than just C&S.
He had begun his bank career in operations at C&S in Augusta after a career in the U.S. Army during the Korean War. He was transferred to Atlanta where he was assigned the responsibility for new programs. One of those new programs was IOLTA.
When I was having trouble getting IOLTA up and running in Georgia, I asked everyone I knew what they thought was the problem. Our IOLTA revenues were lagging several other smaller states' revenues, and no one could provide the insight needed to solve the problem. Until Loyd Smith.
"Of course I know what the problem is," he said with the confidence of a man who had little experience with failure. "Think of it this way, Len. Imagine two babies-one, say, in North Carolina and the other here in Georgia. Treat them identically...