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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:
Don't Miss These Two
Important Meetings In June. . .
Next Up:
I
BANYS' Annual Lending Conference June 28-29
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? Your bank's 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:
- Stress Testing: How To Use Results & Current Areas Of Regulatory Focus, with Elizabeth Williams, Managing Director/Special Projects, CEIS Review
- C&I Lending: Should You Or Shouldn't You? with Craig Poms, SVP & Bank Partnership Director, LSQ Funding
- 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 Daria Milburn, Chief Environmental Risk Officer, LCS, Inc.
. . .to register & for UPDATED program
. . .for UPDATED sponsorship opportunities
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New York Community Bank
Human Resources Professionals:
IBANYS & NYBA Co-Sponsor
2016
H.R. Management Conference
The Independent Bankers Association of New York State and New York Bankers Association are co-sponsoring a 2016 Human Resources Management Conference
June 23 - 24 at the Holiday Inn in Saratoga Springs, New York.
For room reservations, please call the Holiday Inn Saratoga Springs at 888-465-4329 and mention group code BRB to qualify for the group rate of $169 per night, plus tax, for a single or double.
Or, visit
www.saratogahi.com
. You must enter group code BRB to receive this rate. Reserve early! The room block will be held until June 3.
The following program has been submitted to the HR Certification Institute for review.
Thursday, June 23
7:30 am Breakfast & Table Discussions:
Employee Benefits;
Recruiting Strategies/Talent Acquisition;
Developing and Retaining High Potentials;
Performance Reviews/Performance Management
8:30 - 9:50 am: General Session - Legal, Regulatory and Compliance Perspectives
- Current and Emerging Issues in Employment Law: What You Need to Know NOW!Christopher M. Valentino, Esq., Jackson Lewis LLP
10:10 am - 12:00 noon: General Session - Legal, Regulatory and Compliance Perspectives
- Regulatory Updates for Affirmative Action Employers, with Andrea Muller, Senior Affirmative Action Project Manager, HR Works, Inc.
- New FLSA Exemption Rules: Preparing for the Changes, with Christopher M. Valentino, Esq., Jackson Lewis LLP; Stuart Smith, HR Business Partner, Community Bank, N.A.
12:00 noon - 1:00 pm: Lunch and Networking
1:00 - 2:00 pm: General Session - Corporate Culture, Talent, Engagement and Retention
- Creating a High-Performance Culture: Linking Talent and Corporate Performance, with Geri R. Forehand, President & CEO, Forehand Strategy Group
2:00 - 2:10 pm: Stretch Beak
2:10 - 3:30 pm: General Session - Corporate Culture, Talent, Engagement and Retention
- Building a Collaborative Workplace, with Amy A. Pearl, President, RV Rhodes LLC
- Implementing a Culture Survey: One Bank's Case Study, with Michelle L. Pedzich, Senior Vice President, Human Resources, The Canandaigua National Bank & Trust Company
3:30 - 3:45 pm: Refreshment Break
3:45 - 5:00 pm: General Session - Corporate Culture, Talent, Engagement and Retention
- Compensation Challenges in Today's Environment, with Jennifer Loftus, Founding Partner & National Director, Astron Solutions
- The impact of salary compression; compensation conversations with employees; incentive compensation as a tool for employee engagement and retention
5:00 - 6:00 pm: Conversations over Drinks and Hors d'oeuvres
Reception compliments of
HR Works, Inc.
7:30 - 8:30 am: Continental Breakfast & Table Discussions:
Employee Benefits; Recruiting Strategies/Talent Acquisition; Developing and Retaining High Potentials;
Performance Reviews/Performance Management
8:30 - 10:30 am: General Session - Health Care Conversations
- Health Care Financial Benchmarks: Managing Costs and Efficiencies, with Richard G. Gendron, Senior Consultant, Willis Towers Watson, and Lindsey Conan, Healthcare Consultant, Willis Towers Watson
- Strategic Health Care: Perspectives on Bank Health Care Decision-Making, with Vanessa Flynn, Vice President, Client Consulting, POMCO Group, Edward M. Lenz, Vice President, Human Resources, The Adirondack Trust Company & Catherine M. Scarlett, Executive Vice President, Chief Human Resources Officer, NBT Bank
10:30 - 10:45 am: Refreshment Break
10:45 am - 12:15 pm - General Session - Tying It All Together
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HR Metrics: Demonstrating HR Performance to Senior Management, with
Rishi Agarwal, Principal - People Analytics, PricewaterhouseCoopers LLP
12:15 pm: Adjournment
Hotel Reservations: For room reservations, please call the Holiday Inn Saratoga Springs at 888-465-4329 and mention group code BRB to qualify for the group rate of $169 per night, plus tax, for a single or double. Or, go online at
www.saratogahi.com.
You must enter group code BRB to receive this rate.
Remember: M
ake your reservations early! The room block will be held until June 3, 2016.
Wednesday, May 25 Webinar On Elder Financial Exploitation: What Financial Institutions Can Do To Protect Older Account Holders
The Consumer Financial Protection Bureau (CFPB) is offering a webinar Wednesday, May 25 on how banks and credit unions can protect older consumers from financial exploitation. The call will begin with remarks from CFPB Director Richard Cordray and will be followed by a presentation from the CFPB's Office for Older Americans and an opportunity for questions. This presentation will highlight a recent CFPB report that provides an in-depth look at financial exploitation, case scenarios, and detailed recommendations for banks and credit unions on how to prevent, recognize, report, and respond to financial exploitation of older Americans. For information, contact the CFPB's Office of Financial Institutions
(202) 435-7840.
GOVERNMENT RELATIONS
Albany
Legislative Update
IBANYS' Government Relations Committee will hold a conference call this Friday morning to discuss state and federal activity. Among the issues we'll be discussing is S.7434 (Klein)/A.10072 (Weinstein),
which w
ould amend the State Banking Law to require financial institutions that obtain a judgment of foreclosure to submit a notice to the State DFS providing contact and geographical information within ten days of learning that the foreclosed residential property is vacant or abandoned. DFS would be required to maintain a registry of these properties. The NYS Attorney General would be authorized to begin civil actions, against a financial institution to enforce the duty to maintain, and impose fines on institutions which knowingly fail to maintain such properties.
Two other bills that IBANYS supports are on the move in the state legislature.
- S.7184, SAVINO -- This legislation extends provisions relating to participation in the banking development districts program to January l, 2023. This is the same as A. 9480 Jean-Pierre. The bill would amend S4, Chapter 526 of 1998 by extending provisions relating to participation in the banking development districts program to January 1, 2023. The bill is on third reading in the Senate.
- S.7183, SAVINO -- This bill relates to defining consummation of a mortgage loan. This is the same as A. 9746 Richardson. It would amend Section 2 of the New York State Banking Law as it related to defining consummation of a mortgage loan. It clarifies that consummation occurs when the mortgage applicant executes the promissory note and mortgage. The Senate legislation is also on third reading.
Business Groups To Governor:
Support Regulatory Reforms
A coalition of business-backed organizations -- including "Unshackle Upstate" and the National Federation of Small Business and local chambers of  commerce -- wrote to Governor Cuomo's commission reviewing New York's business climate. They urged enactment of a number of long-sought regulatory reforms, including addressing the high cost of doing business in the state (especially for small businesses) and reforms of workers compensation and health care costs. They cited the growing importance of their message, in light of the 2016 budget process that produced a dramatic increase in the minimum wage and the family leave mandate.
Washington, D.C.
FDIC Urged To Reduce Regulatory, Compliance Burden To Boost De Novo Formation
Senate Banking Committee member Dean Heller (R-Nevada) has asked the FDIC for information on how it can ease regulatory barriers to new bank
 formation. Sen. Heller said regulatory burdens and compliance costs inhibit the formation of de novo banks, even as there is a need for more community banks. FDIC Chairman Gruenberg noted that the agency recently reduced the period of "heightened de novo supervisory monitoring from seven years to three years.
New York community banks: Send your bank's specific examples of how increased regulatory burden/compliance has negatively
impacted your bank's bottom line, operations and business model.
Have you seen a decline in ability to lend? Have you seen an increase in your compliance person-hours, at the expense of your ability to lend, or reinvest in your local communities? A number of the congressional offices we met with have requested such data. Send us your specific examples, so we can send them to our elected officials and help 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. Email your examples to John Witkowski at [email protected].
"Audit The Fed" Gaining Traction?
The
Federal Reserve Transparency Act will be marked-up this week in the House Oversight and Government Reform Committee. The bill seeks not
 a financial exam of the U.S. central bank but rather a peek behind the curtain of how monetary decision-making happens. The markup comes after several failed efforts to move the legislation ahead, and supporters believe there now is enough backing in Congress to go forward.
The Fed's policymaking arm, the Federal Open Market Committee, does not meet in public and only communicates its decisions through carefully worded statements at the end of its meetings and through officials' remarks at speaking engagements and through the press.
INDUSTRY INSIGHTS
Consumer Prices Up In April
U.S. consumer prices recorded their biggest increase in over three years in April. G
asoline prices jumped 8.1%, the largest gain since August 2012, adding to March's 2.2% increase. Food prices rose  0.2% after falling 0.2% in March.
There were also increases in medical care and food prices. Data on April retail sales suggested economic growth regained some steam early in the second quarter, but a slowdown in payrolls gains and an increase in new applications for unemployment benefits raised concerns about the labor market's health.
Housing Starts Up. . .
U.S. housing starts rose more than expected in April. Construction of single- and multi-family- homes were up. The U.S. Commerce Department reported yesterday that g
roundbreaking increased 6.6% to a seasonally adjusted annual pace of 1.17  million units. (March's starts were also revised up slightly, to a 1.10 million-unit rate from the previously reported 1.09 million-unit pace.)
Groundbreaking on single-family housing projects, the market's largest segment, rose 3.3% to a 778,000-unit pace. However, s
ingle-family starts fell in the Northeast.
Housing starts for the more volatile multifamily segment soared 13.9%, to a 394,000-unit pace.
Building permits rose 3.6%, percent to a 1.12 million-unit rate last month. Permits for the construction of single-family homes increased 1.5% last month, while multifamily building permits advanced 8.0%.
. . .But Mortgage Applications Down
Total mortgage application volume fell 1.6% last week from the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association. Volume was 18.4% higher than the
 same week one year ago.
Volume was driven lower by applications to purchase a home, which fell 6% last week. Purchase volume was nearly 12% higher than one year ago. Applications to refinance a home loan rose 1% from the previous week, seasonally adjusted, and are 24% higher than one year ago. Mortgage rates were slightly higher a year ago at this time. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) remained unchanged at 3.82%, with points unchanged at 0.34 (including the origination fee) for 80% loan-to-value ratio loans.
DFS Investigating Investment Firms
For Low-Income Housing Deals
The New York State Department of Financial Services (DFS) has opened an investigation into housing deals marketed by investment firms to
 low-income buyers who don't qualify for mortgages. DFS
sent subpoenas last Friday to firms involved with seller-financed home sales to determine whether they violated New York state lending laws. According to a DFS spokesperson, the firms in question were Battery Point Financial,
New York Mortgage Trust
Inc.,
Apollo Residential Mortgage
Inc.
and a subsidiary of
Apollo Global Management
LLC. DFS noted t
he investigation is in its early stages, and this is the first time the agency has opened an inquiry into such housing transactions.
ARE YOU READY FOR IBANYS' 42ND ANNUAL CONVENTION THIS FALL?
Join Us October 3-5 At
The
Turning Stone Resort
IBANYS' 42nd Annual Convention will take place at The Turning Stone Resort 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.
Of course, we'll have a full menu of speakers, panel discussions and presentations on the most important issues and trends impacting New York community banks. . .and, w
e'll also hold our traditional business show, silent PAC auction and much more! Watch for program details and sponsorship opportunities.
Is YOUR Bank Taking Advantage Of These IBANYS-Endorsed Programs?
During the past year or so, IBANYS has introduced several new initiatives that can provide real value and benefits to community banks. Take a look at these programs, and if you have questions, contact us or visit our website at www.ibanys.net. We hope you'll decide to take full advantage of these exciting opportunities.
- 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 & Dell Offer Preferred Pricing
For Member Banks
Also, do you know that the Independent Community Bankers of America (ICBA) and Dell Computers have an agreement in place that
allows community banks that belong to ICBA to take advantage of preferred pricing on computer equipment such as work stations, servers and laptops? Participating banks will also have access to a dedicated account executive familiar with ICBA's program to advocate for them with appropriate Dell teams, including technical experts.
For additional information, please visit www.dell.com/icba.
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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. . .Continuity
Continuity is a Compliance Managment System for community banks and credit unions. Engineered to reduce the time, cost and risk impacts of rugulation, this unified system automates the entire regulatory lifecycle - managing regulatory updates, policies, procedures, risks, vendors, audits, business continuity, exam preperation, compliance strategy and planning.
Continuity provides technology solutions that automate compliance management for financial institutions of all sizes. By combining regulatory expertise and cloud technology, Continuity provides a proven way to reduce regulatory burden and mitigate compliance risk.
They are a team of bankers, former examiners, regulatory compliance experts and leading edge technologists that have come together to execute on this mission.
With ever-increasing regulatory change, managing compliance is now a significant part of a financial institution's cost structure. It doesn't have to be this way. Continuity provides a combination of technology, expertise and leadership designed to make compliance a seamless part of how your institution does business. They
are a long-term partner that works with clients to leverage collective experiences in managing compliance in an efficient, process-oriented way. Based on their experience with hundreds of institutions, they guide you through a strategic plan to convert your existing compliance management process into a Core service, bringing huge benefits in terms of cost and effort reduction, risk mitigation and providing you the space to focus on being a better institution. For further information, visit www.continuity.net.
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...there are 1,615 community bank branches located throughout New York State, which employ more than 39,000 people? Did you also know they hold $293 billion in assets, and $135.5 billion in deposits?
New York community banks: Worth Knowing
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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. 
