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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:
With the Calendar About To Turn. . .
The Focus Is On
Meetings:
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. Presentations and discussions will focus on topics such as
employee benefits; r
ecruiting strategies/talent acquisition; d
eveloping and retaining high potentials; p
erformance reviews/performance management. . .plus, employment law, regulatory updates for affirmative action employers, new FLSA exemption rules, creating a high-performance culture, building a collaborative workplace, implementing a culture survey, compensation issues, health care strategies and financial benchmarks, and demonstrating HR performance to senior management.
For details on the program and registration, please click on the link below:
GOVERNMENT RELATIONS
Albany
Legislative Update
As the 2016 session approaches its final weeks (adjournment is scheduled for June 16 in this election year), issues related to foreclosures, abandoned or vacant properties and expedited processes for the same continue to be in the Albany spotlight. Legislation sponsored by Sen. Klein (D-IDC, Bronx) and Assemblyman Weinstein (D-Brooklyn) at the behest of the Attorney General would maintenance of properties prior to a foreclosure judgement. IBANYS is working to preserve community banks' interests as negotiations continue. The bill has passed the Assembly, and has been referred to the Senate Housing, Construction and Community Development Committee. The issue has been in the press lately as well.
Click the link below to read an editorial from The Buffalo News.
- S.4305 (Griffo)/A.7096 (Brindisi) would authorize state chartered banking institutions to pledge investment grade corporate bonds to secure state and municipal deposits, and authorizes the pledging of municipal bonds having a maturity of more than five years. IBANYS opposes this legislation.
- S.5506-A Savino/A.7930-A Dinowitz would limit the loan assignee liability with regard to motor vehicle retail installment contracts. The legislation is on the Senate active list, and on the Assembly Consumer Affairs Committee agenda this week.
- S.5776 (Valesky)/A.7848, Lupardo) was on the Senate Finance Committee agenda this week. It would grant land bank access to tax delinquent property to assess environmental and structural conditions.
- S.579-C (Squadron)/A.6621, Kim), which would increase micro loans in small business revolving loan fund, is on the Senate calendar and the Assembly debate list.
- S.7184, Savino/A.9480, Jean-Pierre -- 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 legislation has been approved and delivered to the Governor.
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S.7183, Savino/A.9746, Richardson
-- This bill relates to defining consummation of a mortgage loan. It
would a
mend 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 legislation has passed the Senate and was reported to the floor this week by the Assembly Banks Committee.
Two Key State Senate Races
GOP Assemblyman Tedesco Announces
Run To Succeed Sen. Farley
Assemblyman Jim Tedesco (R- Glenville) announced he is running for the open 49th State Senate District to replace longtime GOP Senator Hugh Farley, who has announced his retirement. Farley is Vice President Pro Temper of the Senate and Co-Chair of the Senate Banks Committee, which he chaired from 1989-2012. Assemblyman Tedesco, elected to the Assembly in 1982, served Republican Leader from 2005-09. The 49th S.D. includes all or parts of Fulton, Hamilton, Herkimer, Saratoga and Schenectady counties.
Meanwhile, five Republicans and one Democrat are said to be considering running for the 54th New York State Senate District seat to be vacated by retiring Sen.  Michael Nozzolio. The 54th S.D. includes all or parts of Wayne, Seneca, Ontario, Tompkins, Cayuga and Monroe counties.
Control of the State Senate will be hotly contested this November.
Democrats actually hold one more seat than Republicans in the 63-seat chamber, but the GOP continues to operate a governing coalition with five members of the breakaway Independent Democratic Caucus, led by Sen. Jeff Klein (IDC-Bronx), and with Sen, Felder (D-Brooklyn), who also conferences with the GOP.
Washington, D.C.
CFPB Governance Structure In
House Appropriations Bill
The House Appropriations Committee's fiscal 2017 financial services bill would replace single-director  governance structure of the Consumer Financial Protection Bureau (CFPB) with a five-member commission, and would subject the CFPB to the congressional appropriations process. The CFPB currently gets its funding from the federal Reserve; this bill would place it under Congress for its funding. Both points are part of ICBA's Plan for Prosperity regulatory relief agenda endorsed by IBANYS, and have been advocated by IBANYS in Washington. The legislation would also fund the Internal Revenue Service at $10.9 billion -- $1.3 billion less than President Obama's request. The full Financial Services spending bill was scheduled to be marked up in Committee today.
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].
INDUSTRY INSIGHTS
The Latest Housing News. . .
New Home Sales Reach Eight-Year High
The U.S. Commerce Department reported that new U.S. single-family home sales recorded their biggest gain in 24 years in April, reaching a more- than-eight-year high.
Tuesday's report also showed  a surge in new home prices to a record high. New home sales jumped 16.6 percent to a seasonally adjusted annual rate of 619,000 units, the highest level since January 2008. The percent increase was the largest since January 1992. Data for February and March were also revised to show 39,000 more units sold than previously reported. New home sales account for about 10.2% of the housing market. Sales increased broadly across the country, except in the Midwest. The median price for a new home increased 9.7% from a year ago to a record $321,100. The average price rose 13.5% from a year earlier to $379,800. New single-family home sales in the Northeast jumped 52.8%, reaching their highest level since October 2007.
. . .As Existing Home Sales Are Also Up
The National Association of Realtors reported that existing home sales increased during the month of
 April. That marked the second consecutive month that sales increased, despite inventory shortages and faster price growth. The Realtors' index rose 1.7%, and was up 6% from one year ago, primarily due to increases in the Midwest and Northeast.
April existing-home sales in the Northeast climbed 2.8% to an annual rate of 740,000, and are up 17.5% from a year ago. The median price in the Northeast was $263,600, which is up 4.1% from April 2015.
. . .And Mortgage Applications Rise As Well
The Mortgage Bankers Association reports total mortgage application volume increased 2.3% on a seasonally adjusted basis for the week, compared
 to the previous week, and up nearly 24% from a year ago. Applications to purchase homes were up 5% for the week and 17% over the same week a year ago, while a
pplications to refinance rose just 0.4%. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to 3.85% from 3.82%; points increased to 0.37 from 0.34 (including the origination fee) for 80 percent loan-to-value ratio loans. The average loan size for purchase applications reached a survey high at $307,700. Most of the homes available for sale this spring appear to be on the higher end of the market, while starter homes are in short supply.
The inventory of homes for sale nationally in April was 3.6% lower than in April 2015, and the
inventory drops are most severe in the lower-priced tier of the market.
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, aveteran 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. Steve Greenberg will be our closing keynote speaker Wednesday morning, October 5.
Ray O'Conor will be our opening night Keynote speaker
Monday evening, October 3
. 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 also have:
- A full menu of speakers, panel discussions and presentations on the most important issues and trends impacting New York community banks
- And, 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.
WEBINAR UPDATE:
Latest In Cyber Series:
FFIEC Cyber Security Risk Assessments:
Recent Findings & Recommended Actions
"Learning from Recent Cyber Security Risk Assessments"
Wednesday, June 8, 2016
3:00 pm - 4:30 pm ET
Cyber security is now considered the number one risk faced by financial institutions. Cyber security preparedness and risk management will be key areas of focus during upcoming exams. This webinar will review case study results from first and second quarter regulatory exams with an eye towards the FFIEC cyber security governance requirements and how financial institutions are successfully utilizing the FFIEC Cybersecurity Assessment Tool (CAT). Join us for practical advice on how to utilize the CAT to define inherent risk, measure control effectiveness (i.e., maturity), and assess residual risk.
This informative session is designed for individuals with oversight or responsibility for information technology, including internal audit, IT audit, IT risk management, and IT operational management.
Continuing Education:
Attendance verification for CE credits upon request
PLEASE NOTE:
Webinar content is subject to copyright and intended for your individual financial institution's use only.
Presenter Randall J. Romes (CISSP, CRISC, MCP, CliftonLarsonAllen LLP)
will cover:
-- Updates to FFIEC audit requirements over the last two years leading to the release of the CAT
-- Significant changes to the FFIEC
IT Handbook
that influence completion of the CAT including:
- Inclusion of cyber security as a key component throughout the handbook
- Enhanced focus on IT risk management
- Change removing vendor management as a standalone section and integration throughout all 14 sections
-- Inherent risk assessment and maturity profile completion.
TAKE-AWAY TOOLKIT Will Include:
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- Sample cyber security assessment tool report document
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
To register and for additional details, please click on the link below:
https://financialedinc.com/a/ibanys/webinar/cyber-series-ffiec-cyber-security-risk-assessments-recent-findings-recommended-actions
All IBANYS Webinars Are 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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. . .New York Business Development Corporation (NYBDC)
- Formed in 1955, NYBDC is a consortium of 124 banks and 83 economic development agencies. Under President & CEO Pat Mackrell and his team, NYBDC's goal is to promote the business prosperity and economic welfare of the State of New York by providing loans to small businesses at all stages of maturity with a particular emphasis on start-up, early stage and minority/women owned businesses.
- NYBDC makes both SBA 7(a) and conventional loans. NYBDC is examined for safety and soundness by the Department of Financial Services pursuant to Article V-A of the Banking Law of the State of New York.
- NYBDC's goal is to assist, promote and, through the cooperative efforts of its lending partners, advance the business prosperity and economic welfare of the State of New York by providing loans to small businesses including start-up, early stage and mature businesses with a particular emphasis on minority and women owned businesses.
- NYBDC seeks to offer credit opportunities not otherwise available to small business in order to facilitate access to capital in support of economic development, to create or preserve job opportunities and to stimulate the growth, expansion and modernization of small businesses in New York State.
- NYBDC is a complement to conventional banking, working in partnership with banks to provide term loans, many of which do not meet the requirements for traditional financing. NYBDC's goal is to be more creative in its underwriting. In many cases, they include multiple participations, SBA guarantees, flexible amortization and long-term payouts.
- NYBDC also manages Empire State CDC: The 504 Company. The 504 Company is licensed by the U.S. Small Business Administration (SBA) to provide the SBA 504 Loan Program - a fixed-asset economic development program designed to promote growth and job creation in small businesses & to eligible New York State businesses.
- A third component of NYBDC is the Excelsior Growth Fund, a not-for-profit Corporation, whose capital is used to promote the expansion and growth of new and existing businesses located throughout some of the more economically depressed areas in our State.
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here are more than 600 counties in the United States -almost one out of every five U.S. counties-that have no other physical banking offices except those operated by community banks? Did you know more than 2,500 community banks in the nation have been in business for over 100 years? Did you know community banks make more than 50% of small business loans and 90% of agricultural loans?
Community banks are worth knowing about -- and, talking about to your customers, community leaders and elected officials!
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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. 
