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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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New York Community Banker Menzo Case Named
To CFPB Advisory Council
Menzo Case, President & CEO of Generations Bank in Seneca Falls, New York, has been named to the Consumer Financial Protection Bureau's (CFPB) Community Bank Advisory Council. The Council advises the CFPB and shares with it the unique perspectives of community banks and the critical role they play in the health and viability of local economies. Congratulations on this singular honor.
IBANYS Welcomes Our Newest
Associate Members
IBANYS is pleased to announce and welcome our four newest associate member firms. We're delighted you're on board!
- BFS Group assists banks in all facets related to Bank Owned Life Insurance (BOLI) and executive/director compensation benefit plans. Visit www.bfsgroup.com
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COCC provides computer banking products and services, data processing, and internet banking products and services. Visit
www.cocc.com
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Residential Home Funding is a mortgage banker that services residential and commercial properties with a variety of loan products.
Visit
www.rhfunding.com
ONLY 39 DAYS UNTIL . . .
IBANYS' ANNUAL CONVENTION:
October 3-5, The Turning Stone Resort
October may seem a long way off, but there are just 39 days left 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.
As always, we will share an
important, timely and relevant business program, including outstanding speakers and panels.
We also want you to have a little fun. Of course, we'll have plenty of great food and drink.
Plus, 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.
Don't forget our traditional PAC auction. We have great auction items each year, and look forward to having a 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.
As for our convention business program, it 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.
Steve Greenberg will preview the critically important 2016 election for community banks. Every single member of the New York
 State Legislature and New York Congressional Delegation is up for election, and control of the New York State Senate is definitely expected to be hotly contested. A number of key congressional races are also up for grabs, and results could impact the balance of control. Steve will be our closing speaker Wednesday morning, Oct. 5.
We'll have a full menu of speakers, panels and presentations on the most important issues and trends impacting New York community banks. They
will focus on
innovative
topics and trends in banking
such as cashless societies
,
and
the
basic "blocking and tackling" of banking
-- such as building a successful ERM.
Check out the links below for all the details!
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.
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!
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Associate Members, Preferred Providers, Exhibitors:
IBANYS' Annual Regional
Security Conferences
Save these dates, and plan to attend IBANYS' Annual Regional Security Conferences --
October 19
(
Rochester
Marriott Airport)
and October 20 (Comfort Inn & Suites in Castletown, in the
Capital District
). These programs will once again provide top-notch sessions with outstanding speakers, who will 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 Offer Preferred Pricing
For Member Banks
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
GOVERNMENT RELATIONS
The New York State Legislature is adjourned until the new session begins in January, 2017. Congress is in recess until September 6. Nevertheless, legislative and regulatory actions continue to impact New York community banks.
- Following several months of slower-than-expected income tax collections, the Cuomo Administration is projecting a deficit for next year's budget. The
 State Division of the Budget lowered its projections for personal income tax collections by $600 million, starting in the current fiscal year (which began April 1, 2016) and running through 2020. Next year's budget deficit is now projected at $3.2 billion, though the Administration assumes $3 billion of that will be covered by unspecified cuts from various state agencies.
- The New York State Department of Financial Services has fined Taiwan-based Mega International Commercial Bank $180 million for alleged violations of anti-money laundering rules.
- More than 22,000 organizations and individuals filed comments regarding the Consumer Financial Protection Bureau's proposed regulations on the payday lending industry. Many of the comments came from payday-lender customers.
-
Democratic presidential nominee Hillary Clinton
again pledged to grant relief to small banks and credit unions if elected president, making her most high-profile commitment to the idea yet. She did not provide details on the type of relief she would seek to implement. A
nalysts and industry representatives are skeptical she could get her ideas passed.
- The Securities and Exchange Commission reached a settlement to end its legal action against Daniel Mudd, the former chief executive of Fannie Mae, pertaining to allegations that he misled the government-sponsored enterprise's investors about the risks posed by faulty mortgages in the lead-up to the 2008 financial crisis. Under the deal, Fannie Mae will pay $100,000 on behalf of Mudd to a Treasury Department fund.
- The FDIC says that despite the recovery in community bank earnings after the financial crisis, slow interest rates and narrow net interest margins have inhibited de novo
 bank formation. The agency's latest issue of "Supervisory Insights" notes there are tentative signs of rising interest in forming de novo, and that it is working to support the formation of new institutions. The agency reiterated its recent pledge to release a practical guide on how to apply for charters and deposit insurance for groups organizing de novo banks.
- Federal banking regulators released 2015 Community Reinvestment Act (CRA) lending data. Of the 751 reporting institutions, 246 had assets below the $1.221 billion threshold and reported voluntarily. Approximately 6.1 billion small-business loans totaling $228 billion were reported, an 8.5% increase from the previous year (including a 7.7% rise in originations). The number and dollar amount of small-farm loans rose by roughly 2% and 5%, respectively. Roughly 93% of the small-business loans and about 77% of the small-farm loans originated were for amounts less than $100,000. Lenders reported more than $87 billion in community development loans, up 16% percent from the previous year.
- Recent data from Realty Trac showed that, after ranking in the top five in the nation over the past several years, New York State has now dropped down to 17th in the country in foreclosures. However, it should be noted that New York is still in the top three states in the U.S. in terms of the length of its foreclosure process.
- The U.S. Commerce Department reported that new single-family home sales were up 12.4% in July -- and up 31.1% from the same time one year ago. The monthly increase was 40% in the Northeast.
- A report by the Financial Stability Board (FSB), the Basel, Switzerland-based international regulator whose members include the U.S. Federal Reserve, warned
 that the world's largest banks still can't be wound down in an orderly manner, thereby posing risks to economic stability. The report renewed calls for regulators to "wrangle too-big-to-fail financial institutions." The FSB also unveiled guidance for banks to help ensure they have sufficient liquidity to function during a resolution.
- From 2007 to 2013, the number of U.S. banks declined by 14%: more than 800 institutions that either shut down, were sold, or merged with other banks. Minority owned institutions were hit even harder. Black-owned financial institutions fell by by 24% from 2007 to 2009, according to the investment research and management firm Creative Investment Research. There are just 23 black-owned banks left in America.
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The Federal Reserve Bank of New York said New York City and surrounding areas are seeing strong job growth, but the
Upstate region is experiencing only modest gains  and continues to struggle from manufacturing losses. New York Fed President William Dudley noted:
"In Upstate New York, economic growth has generally been modest, with job growth running well below the national pace. This isn't new, as Upstate New York has historically tended to grow much more slowly than the nation." Dudley reported "little to no growth in the center of the state" and Utica and Binghamton continue to see employment declines. The positives? Job growth has picked up in Buffalo, due in part to improvements in the automobile manufacturing industry. The Capital Region continues to see sturdy growth, with significant manufacturing job gains in industries (e.g., nanotechnology) that are benefiting from partnerships with the region's higher education institutions. New York City is experiencing strong job growth, with most of it coming, surprisingly, from outside the financial sector.
Take Advantage Of These 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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. . .Computer Services, Inc. (CSI)
CSI is a customer service company that delivers innovative technology solutions to financial institutions nationwide. A total solutions provider, CSI offers core processing, managed services, mobile and internet solutions, payments processing, print and electronic distribution and regulatory compliance solutions. For details, contact
Stuart Mclellan, RVP at
(270) 442-7361,
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. . .that the original Community Reinvestment Act (CRA) was passed by the 95th United States Congress and signed into law by President Jimmy Carter on October 12, 1977? The CRA was passed as a result of national pressure to address deteriorating conditions of American cities, particularly lower-income and minority neighborhoods. The CRA followed similar laws passed to reduce discrimination in the credit and housing markets, including the Fair Housing Act of 1968, the Equal Credit Opportunity Act of 1974 and the Home Mortgage Disclosure Act of 1975 (HMDA).
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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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