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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FIS Is IBANYS' Newest
Associate Member
IBANYS is pleased to welcome FIS as our newest associate member.
FIS is the world's largest global provider dedicated to banking and payments technologies. They empower
the financial world with payment processing and banking solutions, including software, services and technology outsourcing.
Headquartered in Jacksonville, Florida, FIS serves more than 20,000 clients in over 130 countries. Their technology powers billions of transactions annually that move over $9 trillion around the globe. FIS is a Fortune 500 company and is a member of Standard & Poor's 500
Index. Welcome aboard!
Visit fisglobal.com or, contact Mary Neeb: (800) 822-6758, [email protected].
IBANYS' Innovation Committee Meets Oct. 5
-- Please Participate!
IBANYS will hold a post-convention meeting of our new
Innovation Committee Wednesday, October 5 at The Turning Stone. The committee will review presentations on products and services that may increase revenue and efficiency, and reduce expenses. IBANYS President & CEO John Witkowski is seeking volunteers to stay for an extra four hours to hear new ideas that help community banks, both in New York State and across the country.
For more information, contact John Witkowski:
IBANYS' Final Annual
"Convention Countdown"
Has Begun!
Join Us October 3-5 At
The Turning Stone Resort
. . .We Are Less Than A Month Away!
New York community bankers, IBANYS' preferred providers, associate members, sponsors and exhibitors and guests: Time is running out! If you have not yet signed up for our 2016 IBANYS Convention
October 3-5 at The Turning Stone Resort in Verona, New York, register today!
Our top-notch
business program will
feature outstanding speakers and panels on the challenges, opportunities and issues facing community bankers. (See the agenda below.) Plus, we'll provide ample
networking, recreational and dining/refreshment opportunities.
Community Bankers: Click here to register and to view agenda
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.
Remember: Our traditional PAC auction will offer a large collection of great items donated by bankers, associate members, preferred providers and exhibitors.
- Donate your gifts for the auction -- by no later than September 15
- Participate in the bidding at the convention
- The proceeds will support IBANYS' state political action committee NYSIBPAC. It supports state candidates and office holders who understand the importance of community banking. That's even more important than ever this year, as control of the crucial State Senate is hotly contested.
Our B
usiness Program
I
ncludes
T
hree Outstanding Keynote Speakers
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Ray O'Conor (
former President of Saratoga National Bank & Trust and a Past IBANYS Chairman). Ray 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. Ray 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. He will kick off our program Monday night, Oct. 3.
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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.
Scott, a
key voice for community bankers across our country, will share ICBA's perspective on community banking, update us on the federal legislative and regulatory scene, and discuss the importance and value of ICBA membership.
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Steve Greenberg
is a highly respected
New York State political analyst,
commentator and Siena College Pollster. Don't
miss his preview of the 2016 election and its meaning to community banks. The full NYS
Legislature and Congressional Delegation is on the ballot in November. Control of the State Senate is very much up for grabs, and many congressional races -- including several upstate -- are hotly contested. Hi
s closing address Wednesday, Oct. 5 is a "must see" presentation!
We'll Also Have Many Other
Outstanding Speakers
We'll have a full menu of speakers, panels and presentations on the most important issues and trends impacting New York community banks.
Speakers Such As:
- Dave Koto, VP of Banking Strategy with DefenseStorm, who will discuss "Bank Cybersecurity From A Senior Management Perspective." Long gone are the days when community bank executives could simply put a technology issue in the hands of their IT departments and move on. Technology is no longer just an IT issue - it's a CEO, senior management, and board issue. The organization's top leaders must stay informed and play a critical role in how their bank handles technology matters -- even more so when it comes to IT security. David Koto has over 25 years in the financial institution technology and consulting industry. This session will identify practical steps CEOs and senior managers must take in order to keep their bank secure in today's challenging world of IT security.
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E. Prescott Ford, Managing Director of Regulatory Affairs with First Empire Securities, who will examine "
Essential Elements Of An Effective Investment Policy."
He will
outline the important criteria needed to create a robust investment policy, and discusses how to review and maintain those policies. His presentation will offer insight on risk management considerations and pre-purchase constraints, and illustrate an effective policy to keep it in line with an institution's investment objectives -- including the need for safety, liquidity and yield.
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
- SHAZAM
- 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.
Associate Members,
Preferred Providers, Exhibitors:
to register, sponsor and reserve a booth!
For IBANYS' Regional
Security
Conferences October 19 - 20
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
Member Banks Preferred Pricing
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 September - October 2016 specials
Click here
INDUSTRY INSIGHTS
ICBA Sues NCUA Over
"Unlawful Commercial Lending Rule"
Today, ICBA President & CEO Cam Fine and Chair Rebeca Romero Rainey announced the Association has filed a lawsuit in federal court against the National Credit Union Administration (NCUA) for "an unlawful rulemaking allowing tax-exempt credit
unions to exceed commercial lending limits set by Congress." ICBA notes the rule would dramatically expand lending "loopholes" for credit unions by letting them exclude purchased nonmember commercial loans and participants from the calculation of their aggregate member business loans. ICBA's position is that the NCUA has transformed "from a federal financial regulator to a cheerleader for its taxpayer-subsidized industry."
ICBA stated: "
Only Congress has the authority to set credit union laws, and the NCUA has ignored the debate on Capitol Hill to satisfy large, growth-oriented credit unions that are subsidized by the American taxpayer," Fine said. "ICBA and the nation's roughly 6,000 community banks believe that the credit union industry should not be allowed to continue expanding its lending authority as long as it remains exempt from taxation and the federal financial regulations that taxpaying community banks are obligated to meet."
Read more about the lawsuit by visiting or cutting and pasting the link below to your browser.
www.icba.biz/stopcugrab/Pages/default.aspx
Credit Union Lending Up 10.5 Percent
Total lending at federally insured credit unions increased to $823.4 billion in the second quarter of 2016, according to the National Credit Union Administration. Loans rose 10.5 % from a year before, with growth in every major category. (There were increases in overall delinquency and charge-off rates from a year ago.) Total assets in federally insured credit unions rose 7.4% over the past year to more than $1.25 trillion.
CFPB: Bank Related Complaints Up
According to the Consumer Financial Protection Bureau (CFPB), American consumers continue to "experience problems" managing their accounts at banks and credit unions across the country. The report noted that
bank-related complaints rose dramatically, from 1,890 in May-July of 2015, to 2,239 in May-July of 2016, a 26% increase.
The CFPB said there are more than 200 million deposit accounts open nationwide, including checking, savings and certificates of deposit. Since March 2012, the CFPB has handled approximately 94,000 complaints about these accounts. The agency said the
majority of the complaints (64%) dealt with checking accounts, including account management (45%) and withdrawals (25%), followed by sending or receiving payments (13%), problems caused by low funds (10%) and trouble using a debit or ATM card (7%). CFPB Director Cordray noted: "Deposit accounts are an essential component of millions of consumers' financial lives. We are concerned that consumers continue to face difficulties accessing and managing this cornerstone financial tool. Consumers who are eligible for a deposit account should be able to get one and use it effectively."
Some in the banking industry
questioned the accuracy of the government data. The CFPB report noted the financial institutions with the most complaints between March and May of this year were Bank of America, Wells Fargo, JPMorgan Chase, and Citibank.
Financial Industry Added 15,000 Jobs In August
The financial sector added 15,000 jobs last month, accounting for about 10% of all job gains, according to the U.S. Labor Department.
Employment in the industry climbed 0.18% from the previous month, but slowed compared to the 18,000 jobs added in July, the Bureau of Labor Statistics reported
. The financial field gained of 6,000 workers in securities, commodity contracts and investments.
The financial industry employed about 8.317 million people in August, and has added 167,000 jobs the past year.
FDIC Community Banking Advisory Committee
The Federal Deposit Insurance Corporation (FDIC) added eight new members for its Advisory Committee on Community Banking, which has been providing advice and recommendations to the FDIC on a broad range of community bank policy and regulatory matters since it was established in 2009. The Advisory Committee members represent a cross-section of community bankers from around the country.
The Committee discusses and provides input to the FDIC on a wide variety of topics, including current examination policies and procedures, credit and lending practices, deposit insurance assessments, insurance coverage and regulatory compliance. For more information, visit http://www.fdic.gov/communitybanking/.
GOVERNMENT RELATIONS
Albany
Governor Signs Micro-Business Loan Bill
The NYS Legislature remains out until next January, when the 2017-18 session begins, but there is still activity in Albany. Governor Cuomo has signed A.6621-B (Kim), which amends the small business revolving loan fund program to include micro-businesses (independently owned with less than five employees). It waives application fees for micro-loans under $5,000, and provides for a preference in awarding funds to lending organizations that serve micro-businesses and micro-loans. The bill is now Chapter 254 of the laws of 2016.
Washington, D.C.
Congress Returns To Work
Congress reconvenes this week for the month of September after a long summer recess. The only "must-pass" item on the agenda before the November election is funding the government past
Sept. 30
, when the annual spending authority expires.
The House GOP conference met to discuss the September agenda, and how to move forward on negotiations for a stopgap funding measure to keep the government open. Congress likely needs to resolve a dispute over Planned Parenthood to pass funding legislation to fight the Zika virus, and avoid a government shutdown. Some observers believe Congress will pass a continuing resolution to extend the funding deadline, setting up another deadline in December.
Meanwhile, regulatory relief for community banks remains a key topic of discussion. House Financial Services Chairman Jeb Hensarling's (R-TX) draft relief bill may be introduced before the Sept. 30 deadline.
New Senate Banking Chair In 2017
(L. to R.: Senators Brown, Shelby, Crapo)
Sen. Richard Shelby (R-AL) is in his final months as Senate Banking Committee Chairman. He
is likely to easily win reelection in November, but cannot keep his chairmanship in the next Congress due to Republican term limit rules. Sen. Shelby was Chairman from 2003-07, and returned in 2015 when the GOP regained control of the Senate. Leading contenders to chair the Senate Banking Committee next year: Sen. Mike Crapo (R-Id) if the GOP holds the majority, or Sen. Sherrod Brown (D-OH) if Democrats take control. Sen. Brown is currently the Committee's Ranking Democrat.
Sen. Warren, Allies Involved In Potential
Clinton Administration Appointees?
According to an article in Politico, Sen. Elizabeth Warren (D-MA) and her allies are developing a list of the types of people they'll oppose in key positions of a potential Clinton administration. They reportedly plan to oppose nominees "with ties to big banks" and corporate executives named to regulate their former industries.
One way they may be influencing the process is through the Roosevelt Institute, a New York-based tax-exempt organization researching candidates to fill roles in a Clinton administration.
The Institute staff includes Warren allies who talk regularly with her current staff, members of the transition team and the Clinton campaign leadership.
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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With roots dating to 1864, FTN Financial has always been about helping customers.
From their beginning as a small bank department, they have emerged as a leading provider of fixed income solutions known throughout the world, providing mortgage trading, underwriting agency debt, providing customized portfolio strategies and more. They
serve approximately 5,300 institutional customers in more than 50 countries, and
have an
average daily trading volume of approximately $5 billion
. FTN Financial customers include approximately 40% of all domestic depository institutions and approximately 50% of all banks (For the two years ending 3Q15 with portfolios over $100 million). FTN Financial has also become an industry leader in balance sheet management solutions, such as asset/liability management, derivatives strategies, loan trading, and management consulting services. They provide investment management for financial institutions and cash management for public funds.
Further, they provide a wide range of portfolio accounting, analytics, reports, and economic data you need to thrive amidst fast-changing financial markets.
contact V.P. Preston Carpenter (901) 435-4725,
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Credit unions are a $1 trillion industry competing for the same business and offering the same products as community banks? When Congress established credit unions in the 1930s "to provide small-dollar loans to close-knit groups of people of modest means", it exempted credit unions from federal income taxes to encourage them in that mission? Today, many credit unions bear little resemblance to the original industry that received that tax exemption, and are hard to differentiate from banks.
Credit unions have leveraged their taxpayer subsidy to grow into a $1 trillion industry. There are now over 200 credit unions with more than $1 billion in assets. Just 20 years ago, there were only 13.
Since 2001, credit unions have increased the deficit by not paying an estimated $20.5 billion in federal income taxes. They also pay no state income tax.
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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." _________________________________ |
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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