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In This Edition:
- 40th Annual Convention August 25-27, Buffalo: Program Details & Registration Now Available;
- IBANYS Directors Conference A Success;
- 2013 NYS Legislative Session Over -- See Summary.
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BEING FRANK
By Frank Capaldo, President & CEO
Mission Accomplished-Setting the Example
Almost three (3) years ago I was hired to turn-around the Independent Bankers Association of New York State. To that end, as far as turning-around the organization, "Mission Accomplished". We introduced a plan for growth and value called the "Four Pillars" and we executed on that plan.
The results speak for themselves with 40% growth in net new membership and new programs and services that add true value. Every conference this year, including the "Directors Conference" I attended yesterday has broken attendance records and I expect the same for this year's convention. You can read about all of our accomplishments on our webpage.
However, turning-around an organization, which has been my specialty over the years, is different from maintaining and stewarding day to day. I promised the executive committee that hired me that I would turn-around the association within the three (3) year term limit of my contract. I have done that and kept my promise even in the face of other opportunities that have presented themselves. Why? Because it is the right way to conduct oneself in life and business and more important to continue to set the example for my children and employees.
With my contract ending at the close of 2013 it is appropriate to take steps to find the right person to maintain and build on what we have accomplished. While I would like to announce my retirement as four of my peers have done, I tried that before and new challenges arose which interested me and caused me to keep working. So, I guess we will see what opportunity appears in 2014 and make a decision at that time. I still have the fire in the belly and I will be looking for that new challenge to present itself.
Over the next six months, we still have a lot of work to do such as preparing and pulling off a successful Convention and Trade Show in Buffalo. In addition, the board will have to begin to find the right person to steward the association through the next phase after the turn-around. To that end it is only appropriate that I make this announcement to assist a smooth transition.
In closing, I would like to thank Steve Rice, Vicky Miller, Bill Crowell and Linda Gregware for their outstanding work with limited resources as they were all part of the turn-around. Also thanks to Paul Mello who had the vision to hire me and believed in the turn-around as well as Dave Nasca who, like Paul believes performance is the only measure. A special thanks to wonderful board members like Eileen Bagnolie, Chris Dowd and Mark Tryniski who were outstanding advisors, fun to talk to and visit with and who truly get it. My sincere thanks to all of the members who believed we could turn this ship around. Finally, a special thanks to my wife Lisa for her complete support.
See you in Buffalo.
NY Community Banks Going Strong!
Have you seen the first quarter data analysis from Veribanc of N.Y. community banks' performance in several key cayegories, including small business loans and small agricultural loans, consumer lending, 1-to-4 family mortgage lending, home equity loans and lines of credit, and savings deposits? Click here for the full report with charts.
HAVE YOU MARKED YOUR CALENDAR AND RESERVED THE DATES FOR IBANYS 40TH ANNUAL CONVENTION
AUGUST 25-27?
IBANYS' 40th Annual Convention is heading to the Grand Hyatt Regency in Buffalo, New York, August 25-27, 2013 and we want you to join us. This year's convention offers terrific opportunities to network, outstanding educational sessions, silent auction, golf and many other events. You won't want to miss this opportunity to meet new friends and to network with colleagues and industry leaders. There is something for everyone!
Industry leaders will present the following educational topics:
- Shift Happens: Strategy & Innovation in a Complex Market Place
- Preparing for the Impact of Regulatory Changes on Capital Actions
- Got Fraud?
- Bank Counsels and Regulators Panel
- "Don't Get Caught with Your Derivatives Down"...Practical Uses of Interest Rate Derivatives to Manage Interest Rate Risk
- Be Careful What You Wish For: Preparing for Higher Rates
- How to Build & Retain a High Performing Bank Board
- The Future of Social Media: Social Media Marketing & Compliance
- An Entrepreneurial Approach to Community Banking
- Relationship Management: Getting Back to What Works
- Economic and Demographic Trends
- The Investment Portfolio: What's Ahead for Our Industry
- Cyber Security: Top Technology Dangers-Cyber Attacks to Expect in the Future
- Asset Liability Management & Enterprise Risk Management
Join us on opening night, Sunday, August 25 for cocktails and dinner with keynote speaker, New York's own John H. Burhrmaster (1st National Bank of Scotia), Chairman-Elect, ICBA. Monday, August 26 is a full day of educational sessions, opportunities to visit with our Associate Members & Preferred Providers in the exhibitor hall, cocktail reception and silent auction to benefit PAC, and banquet dinner at the beautiful Statler Hotel. Our keynote speaker Dr. Benjamin Carson, Sr. will present "America the Beautiful: Rediscovering What Made This Nation Great". Tuesday, August 27 kicks off with breakfast with our Associate & Preferred Providers in exhibit hall followed by concurrent educational sessions. We will wrap the convention up with a lunch and prize drawings.
IBANYS 2ND Annual Directors Conference A Success!
Full room of of attendees, including IBANYS Chairman David Nasca (far right) participated in Tuesday's Directors Conference.
IBANYS' Second Annual Directors Conference yesterday was a major success, as a strong turnout of CEOs and their board members heard timely presentations on key issues and challenges facing bank directors. Speakers from First Principles Capital Management, Hunton & Williams, Vitex, StrategyCorps, FiCast Data Corp, KPN Consulting, Invictus Consulting Group and Paradigm Asset Management Co. provided in-depth looks at the capital markets, investment portfolios, capital plans and raising capital, mergers & acquisition activity, replacing lost fee income, ERM, managing risk, the board committee process and ratio-based strategic risk indexing. All of the presentations from the conference will be available on IBANYS' website.
In Albany:
2013 Legislative Session Over -- So, What Happened?
  
Gov. Cuomo, Sen. Skelos and Speaker Silver helped close down the 2013 legislative session late Saturday night in Albany
The 2013 session of the NYS Legislature ended late Saturday night and when the dust had cleared, IBANYS had succeeded in obtaining passage of a number of our priority issues, and in opposing and fending off a number of other proposals that would have had a negative impact on community banks.
Among the bills we supported that passed was one that will double the amount of state funds community banks can hold under the community bank deposit program, from $10 million to $20 million. We also obtained passage of legislation to conform NYS Law to federal changes enacted last winter, eliminating the requirement that banks post duplicate fee disclosure signage at ATM facilities, which already display disclosures on-screen. And, we were able to persuade the Legislature to cut in half the proposed increase regarding the ATM safety reporting requirement, from the proposed quarterly reports down to twice a year.
As in most years, IBANYS spent considerable effort in opposing and stopping a number of proposals that would have had a negative impact on community banks. More than a few involved credit unions, including legislation that would have allowed them to accept municipal deposits; another bill would have allowed them to accept state deposits under a proposed new program modeled after the Community Banks Deposit Program, and another would have allowed low-income credit unions into the Banking Development District Program among many others. IBANYS was also able to stop the proposed "whistleblower bill" that would have provided for payment of a bounty to bank employees who reported violations of the Banking Law. Another initiative we stopped would have significantly increased the paperwork burden related to requiring renewal of certain branches within banking development districts.
The Legislature did approve legislation sponsored by the two Banks Committee Chairs, Senator Griffo and Assemblywoman Robinson, that will benefit a small number of credit unions (only those with state charters) by seeking to expand membership fields and some powers. However, we are working to seek a veto of this bill. Another bill which passed both houses of the Legislature was introduced at the request of the Office of Court Administration and the Attorney General. It requires a complaint on a foreclosure against residential property to be accompanied by certification by the plaintiff's attorney that there is a reasonable basis for the action.
For a full update on all legislative actions of interest, please see IBANYS' end-of-summary report.
...AND, IN WASHINGTON
CFPB Director Richard Cordray
CFPB Proposes Changes To Mortgage Rules
The Consumer Financial Protection Bureau (CFPB) has proposed clarifications and some narrow revisions to its January 2013 mortgage rules to resolve questions identified during the implementation process, and to help the rules deliver their intended value for consumers. Proposed changes impact the ability-to-repay rule, mortgage servicing rules and the loan originator compensation rules. The CFPB also finalized rules that strengthened consumer protections for high-cost mortgages, and instituted a requirement that escrow accounts be established for a minimum of five years for certain higher-priced mortgage loans.
Comments on the proposal must be received on or before July 22, 2013. The proposal may be be found at:
http://files.consumerfinance.ov/f/201306_cfpb_proposed-modifications_mortgage-rules.pdf
N.Y. Community Bankers: IBANYS PAC Needs Your Help!
IBANYS needs your help to stay politically effective on your behalf in Albany. IBANYS' 2013 PAC Brochure explains how to support our efforts. Please review the brochure, and return the form and your contribution to:
Linda Gregware, NYSIBPAC, Independent Bankers Association of New York State, 19 Dove Street, Suite 101, Albany, New York 12210. May we count on your support?
IBANYS Webinars: Great Menu, Great Venue --
Your Bank!
IBANYS' webinars offer community bankers quality programs at affordable prices. Your officers, directors & employees can access timely, important educational sessions from their own offices. Our webinar calendar is now updated to reflect July through October programs. Register today!
INDUSTRY INSIGHTS
1st National Bank of Scotia's John Buhrmaster
& BFS Group Help Fund Financial Literacy
L. to R: Zachary Low, BFS, SVP-Northeast; Anthony McCracken Jr.,
BFS Sales Associate; Susan Kay Salvaggio, Niskayuna Superintendent; Alfred Sive, Niskayuna Social Studies Director; John Buhrmaster, First National Bank of Scotia, President.
John Buhrmaster, President of First National Bank of Scotia, IBANYS Secretary and Chairman-Elect of the ICBA, was the raffle winner of a $5,000 charity prize sponsored by BFS Group. Buhrmaster chose to donate the prize to the Niskayuna Central School District to fund the development of a financial literacy curriculum at the elementary, middle and high school levels in Niskayuna. "We greatly appreciate this contribution from the BFS Group to help create what will be an incredibly valuable program for our schools and our students. There is a need for this kind of instruction, and I know we will put together an excellent program in Niskayuna" Buhrmaster said.
Lawsky: Wall Street Banks Being Investigated
NYS Financial Services Superintendent Benjamin Lawsky told CNBC's "Power Lunch" that Wall Street banks are being investigated for transactions that violated sanctions on Cuba, Iran, Myanmar, Sudan and other countries with ties to terrorism. "When you see that banks are systematically stripping information from wire transfers to hide the fact that they're doing business with terrorist nations, it makes your blood boil," Lawsky said. He added it is "surprising" how many banks violate sanctions, noting that DFS is investigating a "line-up of other banks....As regulators, most importantly, we need to create real deterrents, and we need to send a message that doing business that facilitates terrorism, for example, is not going to be tolerated." Lawsky did not specify the number of inquiries, however, or which banks are being looked at.
New Home Sales At Highest Level In Nearly 5 years
Sales of new U.S. single-family homes rose to their highest level in nearly five years in May, confirming the housing market's strengthening tone. The Commerce Department said Tuesday that sales increased 2.1 % to a seasonally adjusted annual rate of 476,000 units-the highest level since July 2008. It was the third straight month of gains in new home sales.
Sales increased 3.3 % in April. Economists polled by Reuters had expected new home sales to rise to a 462,000-unit rate last month.Sales last month were up in the Northeast, Midwest and West.
...Consumer Confidence, Too!
Americans' confidence in the economy rose to its highest level in more than five years, bolstered by a more optimistic outlook for hiring. The Conference Board's consumer confidence index jumped to 81.4 in June, the best reading since January 2008, and up from May's reading of 74.3. Consumers' confidence in the economy is key, as consumer spending accounts for about 70 % of U.S. economic activity. The report shows consumers are more positive about current economic conditions and have a more optimistic view of the economy and job market in the next six months.
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This Week, IBANYS' Spotlight Shines On:
Four Corners Energy, LLC. . . a one stop energy management resource for businesses, municipalities and not for profits.
They partner with clients to research their energy needs and find market, technology and governmental resources to save them time and money in gaining control over their energy bills. Their practice is based on collaboration and research- they make it easy for clients to manage risk and save money in today's volatile electricity and natural gas markets. At Four Corners, they don't take a step without understanding precisely what their customers need. Based on their research of your energy past and forecast energy use, they work with their network of suppliers and energy efficiency firms to obtain the best solutions -solutions customized to your unique needs. The company is designed to assist customers with all of their energy needs. The firm gives customers the advice and knowledge they need to choose the energy options that will lower and control energy costs. The principals of Four Corners Energy, LLC have nearly 90 combined years of experience in the energy field in New York State. Four Corners Energy is involved in all aspects of the New York energy environment. Their experience ranges between electricity/natural gas pricing, energy services, green energy technology as well as municipal and government relations. Whether it's purchasing electricity/natural gas, or lowering energy demand through energy services measures, Four Corners will work with you to find a way to lower your energy costs and manage your energy needs for the future. Call Andrea McMaster at 518-944-1571, or e-mail her at [email protected].
Did You Know. . .
That the NYS Legislature, which just concluded its 2013 session, originated in the revolutionary New York Provincial Congress, assembled by Rebels when the Provincial Legislature would not send delegates to the Continental Congress?
This is no time for N.Y. community banks to be "rebels"...we need you to send "delegates" to our 40th Annual IBANYS Convention August 25 - 27 in Buffalo to see how IBANYS is still "connecting community banks" all across New York State!
Why not click here to register today?
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Frank J. Capaldo
President / CEO
Stephen W. Rice
Director of Government Relations & Communications
Linda Gregware
Director of Administration & Membership Services
William Y. Crowell, III
Legislative Counsel
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