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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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IBANYS' ANNUAL CONVENTION:
October 3-5, The Turning Stone Resort
Tomorrow, we will turn the calendar to September
. . .just one month until New York community bankers, IBANYS' preferred providers, associate members, sponsors and exhibitors and guests will gather for our 2016 IBANYS Convention,
October 3-5 at The Turning Stone Resort in Verona, New York.
The convention will offer
an
important and timely business program featuring outstanding speakers and panels. Of course, we'll also provide ample opportunities for networking, recreation and great food and drink. For example, you can:
- Register to play golf
- Take a little time and enjoy the spa
- Do a little shopping
- Participate in IBANYS' first "Texas Hold'em" poker tournament
- Network with fellow bankers
- Learn more about the companies that support our industry throughout the year
- Sponsor and support IBANYS and our convention annually.
- Exhibit your firm's products & services for community banks at our traditional business show
- Sign-up to participate in our "6-Minute Drills" for preferred providers/associate members that we launched last year.
Please don't forget our traditional PAC auction. We have great items donated each year, and look forward to another great selection at the Turning Stone.
- Donate your gifts for the auction -- by no later than September 15
- Then, participate in the bidding at the convention.
- Proceeds go to support our state political action committee NYSIBPAC, which supports New York State candidates and office holders who understand the importance of community banking.
Our convention business program will include
three distinguished keynote speakers:
- Ray O'Conor (former President of Saratoga National Bank & Trust and a Past IBANYS Chairman);
- R. Scott Heitkamp, Chairman-elect of the Independent Community Bankers of America® (ICBA) and President and CEO of ValueBank Texas in Corpus Christi, Texas. He's also a previous chairman of the Independent Bankers Association of Texas;
- Steve Greenberg, veteran New York State politics analyst/ commentator/Siena College Pollster.
Ray O'Conor 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. He 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. Ray will kick off our convention Monday evening, Oct. 3.
R. Scott Heitkamp is the Chairman-Elect of the
Independent Community Bankers of America (ICBA),  the only national trade association that exclusively represents community banks. A key voice for community bankers across our country, Scott will bring the ICBA perspective on community banking, an update on the federal legislative and regulatory scene, and the importance and value of ICBA membership.
You won't want to miss hearing from highly respected political analyst, commentator and Siena College pollster Steve Greenberg.  He'll preview the crucial 2016 election, and its possible meaning for community banks. Every member of the New York
State Legislature and Congressional Delegation is on the ballot this November. Control of the State Senate is very much up for grabs, and many congressional races -- including several upstate -- are hotly contested.
Steve Greenberg's closing address Wednesday morning, Oct. 5 is a must see" presentation!
Convention Speakers. . .
We'll have a full menu of speakers, panels and presentations on the most important issues and trends impacting New York community banks. We'll be profiling some of our speakers in the next several weeks.
Jim Reber, ICBA Securities
"Is Your Liquidity Strategy Ready?"
For the first time in over a decade, community bank loan-to-deposit ratios have actually increased.  Other metrics of liquidity have declined as well. So, if the long-anticipated loan demand continues to grow, how are you going to fund your operations? In this workshop, Jim Reber of ICBA Securities will review examiners' expectations for liquidity management, and will give some suggestions for some low-cost and profitable sources of working capital.
Chuck Bruney, CEO, Align FSC:
"3 Steps To Optimize Your Bank's Branch Delivery System"
A perfect storm is brewing on the bank delivery front. Slow and cautious won't work in the face of  this storm. It has too much of a tailwind. If you don't position your organization now to effectively compete with the leaders and disruptors on the delivery front, you will find that your growth and profitability challenges will only get worse. This interactive session will lay out and discuss a prescriptive approach to rationalize, specialize and maximize your bank's branch network.
Thanks To These Supporters
& Sponsors Already On Board:
- ACBB
- Continuity
- Federal Home Loan Bank of New York
- ICBA
- Pentegra Retirement Services
- Roosevelt & Cross
- Sandler O'Neill & Partners
- T.Gschwender & Associates, Inc.
- Wolf & Company
Reserve Your Booth!
Become
A Sponsor!
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IBANYS' Annual Convention is a great opportunity for our preferred providers, associate members and related firms to
reserve a booth in our business show -- to showcase your company's products and services for community banks.
- It's also a chance to sponsor an event, provides your company a greater opportunity to connect with your target audience and to expose your brand. Don't delay: Select your exhibitor space and the event you would like to sponsor today.
We are looking for a great turnout. Register early, and book your rooms ASAP. Let's make our 2016 convention the best one ever!
Associate Members,
Preferred Providers, Exhibitors:
to register, sponsor and reserve a booth!
(NOTE: We will also have a post-convention meeting of IBANYS' new Innovation Committee Wednesday, October 5. The committee will review
presentations on products and services that may help New York community banks increase revenue and efficiency, and reduce expenses.)
Meanwhile, The Convention Isn't The ONLY Upcoming IBANYS conference
. . .For Our October Regional
Security Conferences
Plan for your bank to attend our Regional Security Conferences
October 19
(
Rochester
Marriott Airport)
and October 20
(Comfort Inn & Suites in Castletown, in the
Capital District
). We will once again provide outstanding speakers to address important security subjects, issues and trends impacting New York community banks.
The program will focus on:
- "Vulnerability & Penetration Testing: What You Need To Know"
- "Why The Board Can't be Bored With Cybersecurity",
- "Cloud Computing: Is It Safe For Your Institution & Your Customers?"
- "Proven Tips For Mitigating Your Top 10 Cyberthreats"
Click here for the brochure including program and registration information.
Thanks To Our Preferred Providers
We appreciate your partnership with our industry and Association, and your support of New York community banks throughout the year!
- Continuity is a leading provider of Regulatory Technology (RegTech) 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 at a fraction of the cost. Please visit continuity.net
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Pentegra Retirement Services has
delivered a different approach to every client solution f
or more than 70 years
. It begins with a strategic understanding of your needs, and putting those needs first. Pentegra offers Qualified Plan Solutions for Financial Advisors and Plan Sponsors, Non-Qualified Plan Solutions and BOLI. and Institutional Investment Management Solutions.
Please visit
pentegra.com
- T. Gschwender & Associates, Inc. has been providing services to financial institutions and businesses in the Northeast United States since 1984 -- ranging from small community banks with less than $100 million in assets to much larger regional institutions with over $5 billion in assets. They function as a highly sophisticated "Credit Department" able to handle all functions from initial borrower due diligence to collateral liquidation, and everything in between. Please visit tgschwender-assoc.com
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Wolf & Company, PC.
is
one of the top regional certified public accounting firms in the Northeast, New York and New Jersey. They provide audit and assurance; tax; business consulting; risk management services; and,
WolfPAC Integrated Risk Management.
Risk Management Services include
IT Assurance & Security Services,
Outsourced/Co-sourced Internal Audit Services,
Regulatory Compliance Services and
WolfPAC Risk Management Services.
Please Visit
wolfandco.com
- Promontory Interfinancial Network, LLC helps financial institutions of all sizes thrive. Promontory members use its solutions ̶Bank Assetpoint, Insured Cash Sweep, or ICS, CDARS, IND, Yankee Sweep ̶ to source new asset opportunities, diversify their asset portfolios, reduce collateral requirements, purchase funding and build multi-million-dollar relationships. Please visit promnetwork.com
- Travelers Insurance Company is one of the nation's largest property casualty companies, with more than 30,000 employees, 13,000 independent agents and multiple market segments across the personal, business, financial and international insurance groups. Travelers insurance experts recognize the unique needs of financial institutions - an industry they've served since 1890. Please Visit travelers.com
ICBA & Dell Offering Preferred Pricing
For Member Banks Through October
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.
To check the August - October 2016 specials
Click here
INDUSTRY INSIGHTS
The Battle Over Dodd-Frank, The CHOICE Act
& Financial Reform Continues
House Speaker Paul Ryan (R-WI.) and House Financial Services Committee Chairman Jed Hensarling (R-TX) criticized Democrats' position on community bank  regulations, noting their support for the 2010 Dodd-Frank Act. They noted
Sen. Elizabeth Warren (D-Mass.) now
supports Hillary Clinton's plan to provide regulatory relief for community banks, yet she told a
Senate Banking Committee hearing last year she was skeptical of giving small institutions relief from Dodd-Frank regulations. Chairman Hensarling urged support of his Dodd-Frank replacement plan, the Financial CHOICE Act, noting it "offers regulatory relief and no more bailouts."  Speaker Ruan's office also criticized Dodd-Frank: "This legislative behemoth is over 2,300 pages long and requires federal regulators to write some 400 rules - all of which are hurting our community banks. There is a better way to protect our economy and expand opportunity. House Republicans have put out a plan to expand banking services to low-income families and to lay down clear, firm rules for job creators and workers." To read the full article, click on the link below, or cut and paste it to your browser.
"The Power Of Community
Banks"
& Debate Over
Financial Reform
A recent article in "Politico" by the Roosevelt Institute's Mike Konczal, whose issue portfolio includes financial reform, noted the "power" of community banks in Washington, D.C. -- but warns  it may be detrimental to what he describes as overall efforts toward financial reform. Konczal writes: "...Local banks exist in every congressional jurisdiction and have built trust with local communities. Being on the wrong side of community banks can have serious consequences for politicians." However, he cautions: "While most attention on Dodd-Frank has focused on the efforts of big banks to water down the financial regulations, community banks have received an astonishing amount of carve-outs and benefits.... Rather than a bulwark against the largest banks, community banks are just as likely to support changes that would help the largest banks while providing no new protections on them. Meanwhile research shows that community banks are doing fine financially, not struggling from regulations as most coverage shows."
Click on or cut and paste the link below to your browser to read the full article.
GOVERNMENT RELATIONS
The New York State Legislature is adjourned until January, 2017. Congress is in recess until next Tuesday, September 6. Nevertheless, legislative and regulatory actions continue to impact New York community banks.
Washington, D.C.
ICBA To Senate: Time To Pass Community Bank Regulatory Relief Agenda
ICBA has written to the 70 members of the U.S. Senate who recently urged the Consumer Financial Protection Bureau (CFPB) to consider the implications of its rules on community based  financial institutions. ICBA provided a list of pending bills that would support local economic and employment growth. Also included was a list of pending Senate legislative measures that would implement provisions of ICBA's "Plan for Prosperity" legislative platform, such as the CLEAR Relief Act (S.812) and the Community Bank Access to Capital Act (S.1816). IBANYS has endorsed both. CFPB Director Corday had responded to the senators with a list of several CFPB rules with community bank accommodations, but ICBA reiterated the cumulative impact of over 5,000 pages of rules and regulations that require software updates, testing and training and legal and audit expenses.
- Rep. Carolyn Maloney (D-Manh.), Ranking Democrat on the House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises,
 wants financial regulators to release the two years of collected trading data relating to the Volcker Rule. That Dodd-Frank provision limits proprietary trading. Rep. Maloney said the disclosure would shed light on the rule's "efficacy" and highlight "the general trading activities of U.S. banks, and the degree to which these trading activities have changed over the past two years."
- Some federal regulators, including the Treasury Department, distributed a white paper intended to clarify "myths" about the enforcement of anti-money laundering laws. It stated that regulators do not employ a "zero tolerance" policy for enforcement, and noted approximately 95% of enforcement efforts are resolved without monetary penalties.
- According to the American Action Forum, the Consumer Financial Protection Bureau's (CFPB's) "pace of rulemaking is 3.5 times faster than that of other significant executive agencies."
- The House GOP's financial reform bill could result in a revisiting of the battle between banks and retailers over the potential to repeal the "Durbin amendment" in Dodd-
 Frank that placed a cap on the fees card-issuing banks charge on debit card transactions, effectively halving them. The banking industry believes it is costing banks billions of dollars, providing considerable savings to retailers and has resulted in costs being passed on to bank customers, without the corresponding drop in prices promised by retailers. Rep. Neugebauer (R-TX), sponsor of the repeal legislation, expressed optimism the measure would get support from his colleagues.
FDIC Quarterly Banking Profile
The FDIC issued its latest Quarterly Banking Profile yesterday. The nation's 5,602 institutions identified as community banks reported $5.5 billion in second-quarter aggregate income, up 9% from a year ago. They reported a $41.2 billion increase in
 total loans and leases during the quarter, with net operating revenue up 7.1% over a year ago. Community bank loan and lease balances were up 2.9% from the first quarter -- outperforming non community banks (1.9%). Community bank net interest margin of 3.58% was 57 basis points above that ion non-community banks. The Deposit Insurance Fund (DIF) increased from $75.1 billion (at the end of March) to $77.9 billion at the end of June. The reserve ratio rose to 1.17% . The number of banks on the FDIC's "Problem List" declined from 165 to 147 -- the fewest in over seven years.
Consumer Confidence Up In August
The Consumer Confidence Index hit 101.1 in August, The Conference Board said.
July's consumer confidence reading was revised to
 96.7 from 97.3.
Lynn Franco, director of economic indicators at the trade group, noted:
"Consumer confidence improved in August to its highest level in nearly a year, after a marginal decline in July."
The survey
measures sentiment toward business conditions, short-term outlook, personal finances and jobs
, and is a closely followed barometer of consumer attitudes,
Home Price Gains Ease In U.S.
The pace of U.S. home price gains slowed during June from the previous month, but strong appreciation in the West and South kept growth above the two-year average. The S&P CoreLogic Case-Shiller 20-City Composite index rose 5.1% year over year, versus expectations for an increase  of 5.2%. That marked a sequential slowdown from May's revised 5.3% increase.
The June gains were slightly above the 4.8% annual pace over the last two years. The S&P/Case-Shiller U.S. National Home Price Index, which measures all nine U.S. census divisions, was also up 5.1% in June from the previous year. Meanwhile, a new report from Black Knight Financial Services found that June marked 50 consecutive months of annual national home price appreciation, with prices up 33% from the post-recession bottom in 2012. The report measured the average national home price in June at $265,000, just 1.1% off a record high. The report also noted that the average home price hit a new high in New York State, at $359,000.
IBANYS' Member Service Programs
IBANYS has introduced
several initiatives
which can
provide real value and bottom line benefits to New York community banks
. Take a moment to review these programs. If you have any questions, contact us, or visit
www.ibanys.net. We hope you'll decide to take full advantage of these exciting opportunities.
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IBANYS and NYBDC have announced a partnership with Excelsior Growth Fund (EGF), a nonprofit Community Development Financial Institution formed by New York Business Development Corporation (NYBDC). EGF is endorsed by IBANYS as the exclusive online lending partner for association
 members.
EGF provides innovative financial solutions and business advisory services to underserved small businesses in New York State through a fast, simple and secure online lending platform. Its core product is the EGF SmartLoan™, which features amounts up to $100,000, approvals within 1-2 days and disbursements within one week. Importantly, interest rates a fraction of those typically offered by online lenders.
EGF offers banks a unique customer retention solution when a customer either does not qualify for a bank's loan offerings, or is seeking the fast,
transparent process available through online lenders. To facilitate retention, EGF shares performance information on the referred loan portfolio on a quarterly basis and offers the opportunity for the bank to purchase referred loans at par at any time.
Additional details on the EGF SmartLoan, including eligibility criteria, are available at:
- 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!
IBANYS Webinars: Designed For
New York Community Bank Officers,
Directors & Employees
On a daily basis, New York's community banks must cope with an ever wider array of challenges. Your officers, board members and employees understand that their responsibilities -- and, potential liabilities -- are not about to diminish. Is YOUR community bank providing the information and tools required to help them meet their responsibilities, and properly prepare the bank for the future? Here's an outstanding -- and convenient -- way to do so. Sign them up for
IBANYS' webinars, designed to meet the needs of New York community banks. The webinars are effective and cost-effective. Your officers, directors and employees can participate directly from the ease and comfort of their offices. Over the past two years, the number of bankers participating in IBANYS webinars has risen significantly. Join
your industry and association peers and take full advantage of these timely webinars.
Review our upcoming programs by clicking the link below:
https://financialedinc.com/a/ibanys/category/live
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Luse Gorman, P.C. is a Washington, D.C. based law firm that represents financial institutions and other business enterprises in corporate, securities, bank regulatory, tax, transactional, governance and employee benefits and executive compensation matters.
Few firms in the nation can match their depth of experience in the financial services industry. The firm offers an exceptional combination of knowledge and experience that is derived from the extraordinary number of securities offerings and merger and acquisition transactions that they have handled, combined with a strong team of regulatory lawyers that have worked for the federal banking agencies and the Securities and Exchange Commission. C
lients include banks, saving banks, financial holding companies, domestic and foreign money center banks, credit unions, insurance companies, investment banks and, to a lesser extent, high-technology companies and industrial corporations. Clients range from small community and de novo banks to large international banking organizations.
For further information, visit the website at luselaw.com or contact Jeffrey Cardone at (202) 274-2033, [email protected].
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. . .The U.S. House Financial Services Committee unveiled a Dodd-Frank Burden Tracker? The online resource (www.financialservices.house.gov) was established to keep track of all the new government rules and red tape required by the Dodd-Frank Act. The Act was
passed by Congress in 2010 and mandates that government regulators write over 400 new rules and requirements that will be imposed on the private sector.
Since the law was signed in July 2010:
- regulators have written 224 of the 400 rules;
- these 224 rules consume 7,365 pages;
- it will take private sector job-creators over 24 million hours (24,180,856) every year to comply with these first 224 Dodd-Frank rules.
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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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