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Have You Contributed to NYSIBPAC This Year?
If not...now is the time! We need your help in this statewide election year to support candidates and committees who understand community banks' needs. Can we count on you?
CLICK HERE for our 2016 PAC contribution form. Help support IBANYS' political action efforts in New York State.
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For more information, visit:
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NEWS FROM IBANYS
IBANYS In Washington:
Focus On Reg Relief, Data Security
Senator Schumer met with New York community bank delegation last week during IBANYS' congressional visits
IBANYS was in Washington, D.C. last week for meetings with members of the New York Congressional delegation -- and, to participate in the ICBA's Washington Policy Summit.
Our "hill visits" included sessions with key policy makers, including Senator Schumer, House Financial Services Committee member Carolyn Maloney (D-NYC), Ways & Means Committee member Tom Reed (R-WNY), additional Representatives and the top banking advisors to Senator Gillibrand and Financial Services member Peter King (R-L.I.)
We advocated for regulatory relief for community banks -- based on the Plan for Prosperity, the CLEAR Relief Act (S.812/H.R.1233) and CLEAR Relief Plus Act (S.927), the Community Bank Access to Capital Act (S.1816/H.R.1523), the Consumer Financial Protection Bureau Examination and Reporting Threshold Act (S.482/H.R.4099) and the community bank reg relief provisions of the Financial Regulatory Improvement Act (S.1484). We also supported the the Data Security Act (S.961/ H.R.2205), and reiterated our continued opposition to any effort to enhance or expand the powers and authorities of tax-exempt credit union powers and the Farm Credit System lenders.
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House Financial Services Member Carolyn Maloney (D-NY) also discussed IBANYS' priority issues.
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IBANYS Members: We Need Your Examples Of How Reg Burden Has Impacted Your Bank
The response from our federal legislators was extremely positive on a number of our initiatives.
Now, we need to follow-up, and we need your  help. Our elected officials have asked for specific examples of how increased regulatory burden has directly
impacted your bank's profitability and operations. Have you seen a decline in ability to lend? An increase in your compliance person-hours, at the expense of your ability to lend, or reinvest in your local communities? Send us your specific examples, so we can send them to our elected officials to document why there should be tiered regulation--and why community banks should not be required to meet the same regulatory oversight and standards as larger institutions. Please email examples to IBANYS President & CEO John Witkowski: [email protected].
IBANYS Also Met With Key Federal Regulators
IBANYS members also met with FDIC Chairman Martin Gruenberg;
Office of the Comptroller of the Currency Comptroller Thomas Curry;
Consumer
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Financial Protection Bureau Director Richard Cordray;
U.S. Small Business Administrator Maria Contreras-Sweet;
Senate Banking Committee Member (and strong community banking supporter) Jerry Moran (R-KS);
Federal Reserve Board Associate Director/Banking Supervision & Regulation Kevin Bertsch, and Managing Counsel of Supervisory Policy & Outreach/ Division of Consumer and Consumer Affairs Amy Henderson. Thanks to the banks who participated. If you couldn't join us this year, we encourage you to do so for the 2017 conference next spring.
Longtime State Senate Banks Committee Leader Farley Won't Seek Reelection
Longtime GOP State Senator Hugh Farley (R-Schenectady) announced this week he will not seek
 reelection this November. Senator Farley, first elected too the Senate in 1976, chaired the Senate Banks Committee for many years, is currently serving as Vice Chair of the Committee and has been a strong friend of community banks.
Senate Majority Leader Flanagan (R-L.I.) called Farley "caring...honorable....He will be sorely and profoundly missed." Among those mentioned as potential GOP candidates to succeed him: Republican Assemblyman and former Minority Leader Jim Tedisco.
Join Us Next Week IBANYS' At CFO/Senior Management Conference
Jack
Polman -- serving a two-year assignment as a Practice Fellow at the Financial Accounting Standard Board (
FASB) as
Project Manager on the Project for Credit Losses -- will address IBANYS' CFO/Senior Management Conference next week (May 9 - 11 at The Harbor Hotel in Watkins Glen, New York).
Jack is Audit Partner in KPMG's Department of Professional Practice,
and
will provide background on FASB's Credit Losses Project, key aspects of the forthcoming guidance and implementation considerations. He'll also discuss the current status of the project and the effective date. Jack Pohlman is uniquely qualified to address these issues. We are pleased he will join us at our conference.
Our CFO/Senior Management Conference was developed with input from our IBANYS' CFO Peer Group, the agenda reflects key topics, issues & challenges important to our industry. CEOs, CFOs, COOs,
Presidents, Senior Managers, Bank Directors and ALCO teams should plan attend. The program was designed to help community banks gauge the potential impact of higher interest rates, prepare for the final guidance on the FASB's current expected credit loss model, change the culture surrounding enterprise risk management and gain insights on how to approach key strategic issues including cyber security, credit stress testing, and succession planning.
Participants can earn up to 11 CPE hours (1.0 in taxation). We'll have g
olf, networking opportunities during breakfast, lunch, cocktail receptions and dinners -- including a reception/dinner cruise on Seneca Lake. This is also a chance for our associate members & preferred providers
to sponsor an event, and be recognized throughout the event. Please click on links below with details on the program, registration and sponsorship.
The Program Will Feature:
- Monday Evening Dinner Keynote Address by John Edelen, SVP & Chief Risk Officer, Federal Home Loan Bank of New York
- Economic & Capital Markets Update, by Gary Keith, Chief Economist with M&T Bank
- Deposit Analysis: Crucial Element In Understanding Your IRR Problem, by Al Forrester, CEO, FICAST Data Corp.
- Succession Planning: Developing The Next Generation Of Community Banking Leaders, by Flynt Gallagher, President, Compensation Advisors
- Revenue Enhancement: It's Not What You Think, by Lawrence Pruss, SVP & Revenue Expert, Strategic Resource Management (SRM)
- Historical Tax Credit Deal-Is This Something Our Bank Should Invest In? by Roger Upton, MS Consultants
- Credit Stress Testing: What Examiners Expect, and Steps To Deliver, by Shawn O'Brien, President, Qwickrate
- The New ALLL: A CECL Primer For CFOs, by Peter Brown, Senior Consultant, Sageworks
- Managing Your Investment Process: Best Practices For Assuring Consistency & Success, by Greg Roll, Senior Vice President, Investment Strategies, Vining Sparks
- Public Funds: Enhancing Your Deposit Business In 2016, by Kevin Hamilton, Regional Director, Promontory Interfinancial Network
- Bank Cybersecurity: State Of The Threat Landscape, by Alex Hernandez, Vice President, Customer Solutions, Praesidio
- Strategies for Successful Partnership Between Internal Audit, ERM and the Business -- How To Maximize The Value From Your Risk Functions, by Larry Hessney, CIA, CISA, PCI, QSA, Director-Risk 7 Technology Consulting Servixes, Freed Maxick
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NEW! Background on the FASB's Financial Instruments Credit Losses Project,
with Jack Pohlman, Audit Partner at KPMG on a two-year assignment as Practice Fellow at the FASB as Project Manager on the Credit Losses Project
- We'll have networking opportunities at refreshment breaks, breakfasts, lunches and dinners.
Thanks our sponsors, endorsed providers & affiliates for their continued support, at this conference and throughout the year!
- Federal Home Loan Bank of NY - Dinner Cruise
- FTN Financial - Cocktail hour (Tuesday)
- CEIS - Dinner Wine (Tuesday)
- Pentegra Retirement Serves - Closest-to-the-Pin & Longest Drive
- Bonadio - Networking Breaks (Tuesday
- Atlantic Community Bankers Bank - Breakfast (Tuesday)
- Roosevelt & Cross - Dinner Wine (Monday)
And, thanks to. . .Continuity, Pentegra Retirement Services, Promentory Interfinancial Network, T.Gschwender & Associates, Inc., Travelers, Wolf & Company, P.C., ICBA, ICBA Securities
. . .to register/for updated program
CLICK HERE
. . .for updated sponsorship opportunities.
IBANYS' Annual Lending Conference
In today's banking climate of rate environment, market conditions, steep competition and increased regulatory oversight, the lending and credit process offers community banks both opportunities and challenges -- in mortgage lending, consumer lending, commercial lending and small business lending. Join us June 28-29 at the Woodcliff Hotel & Spa in Fairport (Rochester) for IBANYS' Second Annual Lending Conference, co-sponsored by T.Gschwender & Associates. (See below for additional sponsorship opportunities!)
Who should attend? Loan Officers, Mortgage Officers, Consumer Lending Officers, Commercial Lending Officers, Credit Officers, CFOs and other members of the bank's management team involved in there credit and lending process. The program
will review all aspects of the lending process, with presentations and discussions on loan review, risk, sales, portfolio management and the impact of CECL.
NOTE: SEE LINKS BELOW FOR UPDATED REGISTRATION, PROGRAM DETAILS
& SPONSORSHIP OPPORTUNITIES
Presentations will include:
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2016 Outlook for Credit & Bank Profitability,
with Chris Nichols, Chief Strategy Officer, CenterState Bank
- Credit Stress Testing: What Examiners Expect, and Steps To Deliver, with Shawn O'Brien, President, QwickRate
- The New ALLL -- A CECL Primer For Lenders, with Emily Bogan, Director of Consulting, Sageworks
- Tapping Into Membership to Combat Emerging Competition, with a representative from the Federal Home Loan Bank of New York
- Mortgage Pipeline Management Best Practices, with Robert Perry, Managing Director of ALM Fist
- Disruption in the Online Lending Marketplace: Creating Value For Your Business Customers & Your Bank, with Bryan Doxford, SVP & Program Manager - Community Lending, New York Business Development Corp.
- The Role Of Risk Tolerance and Risk Culture In Managing Portfolio Credit Risk, with David Ruffin, Co-Founder & Managing Partner, Credit Risk Management Analytics
- Friend Or Foe: The Rise Of Peer Lenders & What It Means For Banks, with Armistead Boyd, VP of Product Marketing, nCino
- Managing Credit Risk, with Bharpur "Bo" Singh, President & Owner, T.Gschwender & Associates
- The Loan Participation Puzzle: The Key To Diversification, with Lori Bettinger, Executive Vice President, Alliance Partners
- Navigating The Headwinds Of Change: Lessons Learned From The Great Recession, with Karl Nelson, Founder & CEO, KPN Consulting
- Understanding Environmental Risk, with Ben Bremer, President, LCS, Inc.
. . .to register & for UPDATED program
. . .for UPDATED sponsorship opportunities
IBANYS Annual Convention:
Oct. 3-5,
The Turning Stone
IBANYS' 42nd Annual Convention -- our premier educational meeting and business show of the year -- will be held at The Turning Stone October 3-5. We'll have a  full menu of top notch speakers and presenters, including Steve Greenberg, a veteran political analyst and commentator who will preview the critically important 2016 election for community banks. With every member of the New York State Legislature and New York Congressional Delegation up for election, and control of the State Senate expected to be hotly contested, it will be a timely presentation.
We'll also hear from keynote speaker
Ray O'Conor
. Ray is a former President of Saratoga National Bank & Trust and former IBANYS Chairman. He is the author of
She Called Him Raymond: A True Story of Love, Loss, Faith and Healing --
a candidate for the 2016 Pulitzer Prize for non-fiction.
Ray has also  been a newspaper columnist,
Special Agent with the U.S. Department of Defense and U.S. Border Patrol Agent. His presentation will share the story behind his book, and provide a look into the true tale of two ordinary people who led extraordinary lives during the most tumultuous of times. W
e'll also hold our business show, silent PAC auction and much more! Watch for program details and sponsorship opportunities.
IBANYS Members: Check Out These
Exciting IBANYS Initiatives!
IBANYS has introduced exciting new initiatives to benefit member banks, We encourage you to take full advantage of them.
- The "My Wellness Resource Card" offers a low-cost, non-traditional program to help community banks to save time and money. It helps provide on demand health care from U.S. board-certified doctors who provide
 diagnosis, treatment options and necessary prescriptions via unlimited telephone medical consultations. The My Wellness program offers discounts and significant savings on a variety of medical and dental products, and is designed to improve productivity, decrease absenteeism and boost morale without straining your bottom line. It's an exciting new way for community banks to provide health care benefits, reduce cost and retain employees. For more information, contact Alan Justin, Managing Partner at (716) 907-5500.
- We also joined the "Cure the Blue" effort to raise funds and awareness regarding prostate
 cancer in New York State. We are partnering with the Buffalo Bills Alumni Foundation, and hope to see a number of IBANYS members participate. Please join us in supporting this worthwhile cause. Visit www.curetheblue.com to get involved!
ICBA Securities, the institutional broker/dealer of the ICBA, will present a webinar on May 17 featuring Rick Redmond, Director of Balance Sheet Strategies at Vining Sparks, as presenter. This is the third in the 2016 webinar series.
Last December the Fed increased its target rate for the first time in almost a decade. This is an important milestone since it may be the first in a series of Fed rate increases that will directly and immediately impact key profitability drivers. This session discusses the business-driven balance sheet management process and demonstrates best practices/strategies for building sustainable performance in any rate environment.
What You'll Learn:
- Why swap rates are lower than treasury yields
- How bank balance sheets have evolved over the current rate cycle
- How to compete for long-term fixed rate loans
- How to substantially reduce the cost of wholesale funding
- How to minimize price volatility and still book attractive yields in the investment portfolio
The webinar will last about an hour.
To register:
https://cc.readytalk.com/cc/s/registrations/new?cid=jz91ymmb2czu
GOVERNMENT RELATIONS UPDATES
Zombie Properties In News
State Senator Jeff Klein (IDC, Bronx, Westchester) -- who leads the Independent Democrats Caucus --
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and Sen. Terrence Murphy (R-Westchester/ Putnam/Dutchess Counties) unveiled "The Great American Bank Robbery" study on the impact of foreclosed "zombie properties" in the Hudson Valley. They called for new legislation to monitor bank-owned homes, require banks to maintain zombie properties, expedite the foreclosure process, give communities more powers to repair and maintain such properties and create a community reinvestment fund to "rid communities of the blight." The legislation would also increase transparency by creating a registry of foreclosed, vacant or abandoned properties in the state and grant the NYS Attorney General authority to impose fines and initiate legal proceedings against financial institutions in violation of the law.
In legislative activity,
Sen. Marchione (R-Saratoga) introduced S.7295, "The Zombie Property Remediation Act of 2016" (same as A.1392-A, Magnarelli). It would permit a municipality to compel a mortgagee to either complete a mortgage foreclosure proceeding or to issue a certificate of discharge of the mortgage for any property certified abandoned. The legislation was referred to the Senate Committee on Housing and Assembly Judiciary Committees.
A new Siena Research Poll found corruption in state government and ethics reform -- considered among the top issues remaining on this year's legislative agenda--was also the top priority on the minds of respondents: 82% listed it as the number one concern. They also listed education reform and the problem of heroin addiction. In political matches, Senator Schemer holds a commanding 57%-32% lead over his GOP challenger Wendy Long, and a presidential matchup, Hillary Clinton held a wide lead over Donald Trump in New York State. Governor Cuomo's favorability rating was at 54%-41%, but his job performance rating was at just 43%.
Meanwhile, former Democratic NYS Assembly Speaker Sheldon Silver was sentenced to 12 years
in prison for his conviction on corruption charges.
Appointments At DFS
The New York State Department of Financial Services named Matthew Levine as executive deputy superintendent for Enforcement. He will guide the Department's enforcement actions to ensure that regulated parties are held accountable for unlawful business practices, under the direction of the superintendent. Levine is a former federal prosecutor.
In other news, former corporate attorney Scott Fischer was executive deputy superintendent for insurance, reporting to Acting DFS Superintendent Maria Vullo. Levine will oversee overseeing about 1,700 companies with more than $4 trillion of assets. Jennifer Smith was also appointed special assistant to the Superintendent. She was an attorney at Skadden, Arps, Slate, Meagher & Flom LLP.
Shirin Emami serves as the
Executive Deputy Superintendent for Banking.
IN WASHINGTON
Community Banks At The White House
ICBA participated in the White House Rural Council conference, and highlighted the important role of community banks in investing in the rural economy. Former ICBA Chairman Jack Hartings noted community banks are "outsized small business and agricultural lenders" and help meet unique credit demands to start and grow small businesses, and work with community leaders to strengthen local workforces and attract businesses.
Rep. Chris Gibson (R-Columbia County), who is not seeking reelection, announced he is ending his exploration of running for Governor in 2018 and does not plan to seek that -- or any other -- political office.
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The Fed last week gain decided not to raise interest rates.
"Economic activity appears to have slowed," the Federal Open Market Committee said in a statement. "Growth in household spending has moderated, although households' real income has risen at a solid rate and consumer sentiment remains high."
The Fed hiked its target rate a quarter point in December, the first increase in more than nine years, and FOMC members indicated four hikes were likely this year. However, at their last meeting, it was suggested there would likely be only two hikes this year.
- The Fed reported that its survey of senior loan officers found that banks tightened their standards on commercial and industrial and commercial-and-industrial and commercial-real-estate loans during the first quarter of the year. Demand for C&I loans weakened, while CRE loan demand strengthened.
- Private job creation slowed even further last month as firms added just 156,000 jobs in April. Small businesses added the most jobs last month, as employment in such businesses grew by 93,000, at about the same rate as March. Job growth in medium-sized businesses slowed considerably, as these firms added just 39,000 jobs last month, compared to 66,000 a month earlier.
- U.S. economic growth braked sharply to its slowest pace in two years as consumer spending softened and a strong dollar continued to undercut exports.
IBANYS Webinars: Specifically Designed For Community Banks
Are your officers, directors and employees getting all the information they need on the latest trends, issues and developments impacting the bank? New York's community banks cope with a wide array of challenges. Your bank's officers, board members and employees know their responsibilities and potential liabilities are not about to diminish. Are you doing everything you can to ensure that they have access to the very latest information and tools they need to meet their responsibilities, and to properly prepare the bank for the future? One way to do so is by signing them up for
IBANYS' webinars. Our programs are specifically designed to meet the needs of community banks, and are both effective -- and, cost-effective. Your bank's officers, directors and employees can participate directly from their offices.
There's a good reason
why a rapidly growing number of your industry and association peers are taking advantage of these webinars.
Review our upcoming programs by clicking the link below:
https://ibanys.fed.financialedinc.com/store/webinar
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IBANYS Spotlights
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FTN Financial
From its beginning as a small bank department, FTN has emerged as a leading provider of fixed income solutions known throughout the world. Whether it's providing mortgage trading, underwriting agency debt, providing customized portfolio strategies or more, they serve about 5,300 institutional customers in more than 50 countries. Their expertise includes
Investment Banking Management: Investment, tax, interest rate risk, asset/liability, liquidity management, trust preferred issuance, stock research, bank stock trading, executive and employee benefit design & implementation, bank owned life insurance, corporate finance. They
have an ambitious goal at FTN Financial - to be the world's finest fixed income distribution company for institutional investors. They know only one way to accomplish this objective - act with integrity, maintain a strong work ethic, and, most importantly, always deliver what they promise.
Beyond the fixed income trading and sales that they're known for, FTN Financial has also become an industry leader in balance sheet management solutions, such as asset/liability management, derivatives strategies, loan trading, and management consulting services. They also provide investment management for financial institutions and cash management for public funds.
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DID YOU KNOW. . .
. . .
That the U.S. Treasury
department says that community
banks funded 71% of loan amounts issued under the State Small Business Credit Initiative? In comparison, regional banks funded 15%, and Community Development Financial nInstitutions funded 14%. The SSBCI was created under the Small Business Jobs Act of 2010. It has supported nearly 17,000 small businesses through loans or investments totalling $8.5 billion.
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| New York community banks play a key role in our state and local economies. Help spread the good news among your customers, business and elected leaders and media! |
| Click here for quotes from Governor Cuomo and DFS Superintendent Lawsky extolling the performance and value of New York community banks. |
| Click here for the full NYS Study on community banking. |
| Click here to read IBANYS President & CEO John Witkowski's comments on the new tax changes and benefits for New York community banks as approved in the 2014-15 State Budget. Click here for IBANYS' letter to the Editor of Consumer Reports Magazine correcting failure to mention community banks as an alternative to using "big banks." _________________________________ |
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John J. Witkowski
President and Chief Executive Officer
Stephen W. Rice
Director of Government Relations and Communications
Linda Gregware
Director of Administration and Membership Services
William Y. Crowell, III
Legislative Counsel
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Business Development Corporation (
Importantly, interest rates a fraction of those typically offered by online lenders. 
