Your IBANYS Team: 
Working Together To Make 2016 A Great Year 
For New York C ommun ity Banks !
 
In This Issue

Quick Links

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.

Partner
September 21, 2016

With less than two weeks to go, we are having 
a great response to our 2016 IBANYS Annual Convention. We want to make sure our attendees have the  opportunity to bid on great items at our NYSIBPAC Silent Auction Tuesday evening, October 4th. We need your help to succeed!

Donated Items Needed For 
IBANYS Silent Auction At Convention 
IBANYS' Annual Convention ("Transformation, Innovation and Collaboration" at the Turning Stone Resort in Verona, N.Y. October 3 - 5) features our "NYSIBPAC Silent Auction" on Tuesday evening, October 4. We are asking community bankers, associate members, preferred providers and exhibitors to please donate items for this year's auction ASAP  so we can display them in our business trade show booths during the silent auction. We have   e-mailed ideas for auction items, w here to send them in advance of the convention and t he forms to be completed. The  silent auction is an important source of financial support for NYSIBPAC, IBANYS' state political action committee. It supports state officials and candidates who understand New York community banks' needs and priorities. Your past generosity in donating has made previous silent auctions successful.  Can we count on you this year as well? Please E-mail [email protected] for details/with questions.. 

Convention Sponsorships Still Available
There are still a few sponsorship opportunities available for our annual convention. Sponsoring an event is an important way to visibly demonstrate your support of New York's community banks. Your firm will be recognized in our printed materials, on signage and from the podium. You can also reserve a booth in our business show to showcase your company's products and services for community banks.  Don't miss out!   
  • Community Bankers: Click here to register and to view the agenda. 
  • Associate Members, Preferred Providers, Exhibitors, Sponsors: Click here.

What To Expect At IBANYS 
Annual Convention?

Terrific Networking Activities. . .
  • 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. 
Outstanding Keynote Speakers. . .
  • Ray O'Conor is a fo rmer President of Saratoga National Bank & Trust and a Past 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, and a Special Agent with the U.S. Department of Defense and U.S. Border Patrol. He'll start our program Monday, Oct. 3.
     
  • R. Scott Heitkamp is Chairman-elect of the Independent Community Bankers of
    America and  President & CEO of ValueBank Texas in Corpus Christi, Texas.  A  key national voice for community bankers, Scott will share his perspective on community banking, and update us on the federal legislative and regulatory scene.
  • Steve Greenberg, a respected political analyst, commentator and pollster, will preview the 2016 election. The entire NYS Legislature and New York Congressional Delegation will be on the ballot, with control of the State Senate up for grabs. You won't want to miss Steve's insightful presentation. He will be our closing speaker on Wednesday, Oct. 5.

Plus, More Outstanding Speakers. . .

Jason Aplin, EVP of Sales and Marketing with IFAN Financial, Inc. will discuss "Creating Cashless Economies -- Disruptive Technology For The FinTech Sector". Jason began his relationship with software in the fourth grade with Cobalt and Basic in the cabinet of his private elementary school. His passion for problem solving, operations and leadership led him to consultancy and leadership positions with multiple organizations worldwide. Jason currently sits as the Chief Solutions Officer of Netclearance Systems, provider of payment beacons and other Internet Of Things hardware, as well as EVP and Board of Directors for IFAN Financial and Founder of PayX. Jason has 25 years of experience in the industry with the majority of his time spent with strategists, agencies and brands on how to leverage technology to create engagement, collaboration, brand advocacy and communities. It is the leadership and skillsets that Jason Aplin and Jeff Sparrow possess that are the link between all the companies that created the organization called InCircl. Jason and Jeff are its Founders.

The Return of IBANYS' SIX MINUTE DRILLS. . . 
By popular demand, we're bringing back a segment that proved so popular at last year's convention. That's right: Our  2016 Annual Convention will continue the 6 Minute Drills . They offer our preferred providers and associate members the opportunity - from the podium - to take a brisk six minutes and showcase their firms, products and services - in short, to explain what they can do to help New York community banks. Our Six  Minute Drills  will result in a win - for our member banks, our preferred providers and select associate members. 

IBANYS Thanks Supporters  & Sponsors 
Already On Board. . .
  • ACBB
  • BankBosum/Equias Alliance 
  • Continuity
  • DEI, Inc. 
  • Federal Home Loan Bank of New York 
  • ICBA 
  • Kasasa
  • Pentegra Retirement Services 
  • Roosevelt & Cross 
  • Sandler O'Neill & Partners
  • SHAZAM
  • Smith & Wilkinson
  • Strategic Resource Management
  • Travelers Insurance Company
  • T.Gschwender & Associates, Inc. 
  • Wolf & Company
NOTE: IBANYS will hold a post-convention  meeting of our new Innovation Committee Wednesday, October 5 at The Turning Stone. This new committee will review presentations on products and services that may increase revenue and efficiency, and reduce expenses. We will hear new ideas that help community banks.  It's an important way we all can be involved in continuing to provide real value to our membership and association.
_______________________________

ONLY 27 DAYS LEFT:
HAVE YOU SIGNED UP? 
 
IBANYS' Regional 
Cybersecurity  Conferences: Oct. 19 - 20
 
CLICK HERE to register & For UPDATED PROGRAM

Regulators and bankers alike recognize the issue of cyber security as among the most important challenges community banks face. Your bank's officers, employees, directors - anyone responsible for/involved with your system security - must stay fully up-to-speed on these issues, which are evolving ever-more rapidly. Just last week,  Governor Cuomo and the NYS DFS announced a new proposed state regulation "to protect New York State from the ever-growing threat of cyber-attacks." It would require banks and other financial services institutions regulated by the  DFS to: 
  • Establish a cybersecurity program; 
  • Adopt a written cybersecurity policy;
  • Designate a Chief Information Security Officer responsible for implementing, overseeing and enforcing its new program and policy
  • Have policies and procedures designed to ensure the security of information systems and nonpublic information accessible to, or held by, third-parties, along with a variety of other requirements to protect the confidentiality, integrity and availability of information systems. 
New York community banks: Register here for  IBANYS' Regional Security Conferences on  Oct, 19 ( Rochester Marriott Airport)  and Oct. 20 (Comfort Inn & Suites in Castletown, in the  Capital District ). Speakers will address the very latest developments 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"
  • "Cybersecurity Risk Assessment - Are You Ready?"
CLICK HERE for UPDATED program and registration information.
___________________________

CSI's Complimentary 
Quarterly Compliance Webinar 
Tuesday, Oct. 11, 2016
Time: 2PM to 3PM CT
Speaker: Keith Monson, 
Chief Risk Officer
Contact: 
Pam.Farnsworth@csiweb. com

Computer Services, Inc. (CSI) hosts a complimentary Quarterly Compliance webinar on October 11.  Keith Monson, CSI's chief risk officer, will provide regulatory updates and an executive summary of FinCEN's Customer Due Diligence (CDD) final rule. He will discuss what your financial institution needs to know since FinCEN determined that more explicit guidance for financial institutions is needed within Bank Secrecy Act (BSA) rules and regulations to clarify and strengthen CDD with respect to "Beneficial Ownership" transparency. ( The final rule became effective July 11, 2016, with mandatory compliance beginning May 11, 2018.) Bankers need to understand who their customers are and what type of transactions they conduct to effectively combat all forms of money laundering under FinCEN's updated rule. Tune in on Oct. 11 for an overview of:
  • FinCEN's CDD final rule
  • Beneficial Ownership requirements
  • New risk-based procedures for conducting ongoing customer due diligence
  • Next steps and timeline for implementation
  Register by clicking on the link, or cutting and pasting it into your browser.
Registration Link:  

IBANYS Thanks Our Preferred Providers 
We appreciate your partnership with our industry and Association, and your support of New York community banks throughout the year!
  • 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
  • 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
  • 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 
  • 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 

 .BANK Toolkit & Digital Campaign
IBANYS encourages New York community banks to take a look at  a digital campaign that fTLD has put together to raise the visibility of .BANK in the marketplace.  ICBA asked us to pass along this opportunity for banks to join in with ICBA, ABA and the Financial Services Roundtable to promote .BANK. To view the campaign, view the toolkit and read nine different ads available for use, click on the link below, or cut and paste it into your browser.


GOVERNMENT RELATIONS

new york state capitol 
Albany

IBANYS Studying Proposed State  
Cyber Security Reg
Last week, Governor Cuomo and the State Department of Financial Services (DFS) announced a new proposed cyber security regulation that would require banks and other financial services institutions regulated by the DFS to: 
  • Establish a cybersecurity program; 
  • Adopt a written cybersecurity policy; 
  • Designate a Chief Information Security Officer responsible for implementing, overseeing and enforcing its new program and policy;
  • Have policies and procedures designed to ensure the security of information systems and nonpublic information accessible to, or held by, third-parties, along with a variety of other requirements to protect the confidentiality, integrity and availability of information systems. 

Click here to read the DFS press release. 


 

DFS Superintendent Vullo said: "...Regulated entities will be held accountable and must annually certify compliance with this regulation by assessing their specific risk profiles and designing programs that vigorously address those risks." The proposed regulation is subject to a 45-day notice and public comment period before its final issuance. 

IBANYS' is reviewing the language, and will be seeking input from member banks on how it would specifically impact New York community banks. (FYI: IBANYS' Regional Cyber Security Conferences are October 19 - 20 in the Rochester and Albany areas.
 
CLICK HERE  to register and to view UPDATED CYBERSECURITY PROGRAM.

New Siena Poll: Good News For Clinton, Schumer, Incumbent  Legislators
According to a new Siena poll, Hillary  Clinton leads Donald Trump by 21 points (51%-30%), down slightly from a 25-point lead last month. eight percent of voters saying they support Libertarian candidate Gary Johnson had 8% and  Green Party nominee Jill Stein 3%. In New York' s U.S. Senate race, incumbent Senator Chuck Schumer  (D) leads  challenger Wendy Long (R-C) by 46 points, up from 39 points last month.  In other findings: 
  • The New York State Senate has a 48%-41% favorability rating - the best it has ever been, and up from% 41%-45 last month. By a 51%-38% margin, voters are inclined to re-elect their local senator, up from 46%-39% last month. 
  • The State Assembly has a 44%-40 favorability rating, within one point of its best ever rating and up  rom 41%-40% month. Voters are inclined to re-elect their local Assembly member by 46%-38% margin, up slightly from 42%-36% last month.
  • Gov. Cuomo has a 57%-39% favorability rating, up from 53%-40% last month. His job performance rating is a negative 41%-57%, down from negative 43%-55% last month. If he runs for re-election in 2018, 45% are e prepared to re-elect him, and 49% percent would prefer someone else. 
Reminder: Siena Pollster Steve Greenberg will address IBANYS' Annual Convention on Wednesday morning, October 5 and share his insights on the 2016 election. Don't miss his timely presentation! Community Bankers  Click here and associate members/preferred providers and others click here to register for the convention.

CNBC CFO Survey Finds Slight Movement 
Toward Trump
Meanwhile, w ith less than 50 days remaining until the 2016 presidential election, t he possibility of a Trump victory, although still small, has risen among U.S.-based business leaders, while expectations that Clinton will assume the presidency have fallen.  In July, 90% of U.S. respondents to the CNBC Global CFO Council Survey predicted a Clinton win. The latest survey (released yesterday), which included responses from 25 U.S.-based CFOs, found confidence in the Clinton campaign down approximately 10%. Trump's chances of a win doubled, to 20%. The number of individual CFOs who think Trump will win the presidency rose to five.  In the previous survey, only 2 expected him to win. A separate CNBC Fed Survey, also released Tuesday, showed a big decline among respondents expecting Clinton to win the election, down month over month from 84 percent to 51%.


Washington, D.C.

ICBA Reminds Congress:
Don't Regulate Community  Banks 
Like Wells Fargo
ln light of the controversy involving Wells Fargo's reported consumer fraud issue -- and its CEO's subsequent "grilling" before the Senate Banking Committee -- ICBA is urging Congress to keep in mind the differences between community banks and mega "too big to manage" banks as considering possible legislative responses to the issue. ICBA President & CEO Cam Fine called for targeted regulatory relief for community banks to promote consumer choice in financial services. ICBA noted that community banks are "outraged" by the scandal, and operate a relationship-based approach. 

Update On ICBA Lawsuit Against NCUA
On September 7, ICBA filed a lawsuit against the National Credit Union Administration for approving a final rule that allows credit unions to unlawfully exceed commercial lending limits set by Congress.
ICBA has filed suit "because it is the right thing to do for our community banks, our economy and our nation's financial services industry."  ICBA is fully prepared to do whatever is necessary to achieve a successful outcome with both the Member Business Lending and soon-to-be released Field of Membership rules. In response to  inquiries from community bankers on how they can help in the legal challenge against the tax-exempt industry's regulatory "rubber stamp,"  ICBA established the ICBA Credit Union Litigation Fund to allow community bankers to directly challenge the taxpayer-subsidized industry's efforts to unlawfully expand its powers by participating financially in the fight (visit  www.icba.org/StopTheCUGrab).   All contributions are strictly voluntary and will be directed solely to the association's campaign to level the playing field through the courts. T here are two ways to make monetary contributions: 
  • Simply return your contribution in the postage-paid envelope to: ICBA Credit Union Litigation Fund, Attention:  Cam Fine, 1615 L Street NW, Suite 900, Washington, DC 20036. Funds may be corporate, personal, or both.
  • Contribute via mobile device*. Text "ICBA" to the number 56512. You'll receive an immediate text back with a link to securely use your credit card to contribute. (*Message & data rates may apply)
FDIC DIF Reserve Ratio To Reach 1.35% 
 Ahead Of Schedule?
FDIC Chairman Martin Gruenberg reported that the agency's staff projects that the Deposit Insurance Fund (DIF) reserve ratio should reach 1.35% in 2018, roughly two years ahead of the statutory deadline. If accurate this means the FDIC may be less likely to need to raise rates unexpectedly in the event of future stress. Greenberg said that supports stable, predictable assessments.
________________________________

These IBANYS Programs
Benefit New York Community Banks 
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. 
  • 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:
     

    For details, or to make a referral, contact Bryan Doxford, Chief Lending Officer at Excelsior Growth Fund:  bryan.doxford@excelsiorgrowthfund.org or  (212) 430-4512.
  • 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! 
_____________________________

A REMINDER:
In Dangerous Times, Preparedness 
Is Critical
In light of recent events that have occurred in New York and New Jersey, as well as Minnesota, we thought we would share with you information ICBA received from the Financial Services - Information Sharing and Analysis Center (FS-ISAC). This week, a private sector partner call was held by the Dept. of Homeland Security. It seems fair to say that the "lone wolf threat" is something that is very real to those communities impacted by events over the weekend, but we can all use a reminder that the "vigilance of individuals" can make a significant difference. Those who knew something was wrong and contacted authorities helped save lives. Businesses are urged to r each out and develop relationships in the community, including local law enforcement. Having these relationships established before an incident occurs can help speed up the response when something happens.
 
Homeland Security recommends that businesses:
  • Develop relationships with local law enforcement and businesses in your area. Invite local law enforcement to tour your business.
  • Connect with community security and preparedness organizations such as the Federal Bureau of Investigation's public-private partnership program "InfraGard."
  • Contact the local DHS Protective Security Advisor who is available to support your efforts. Protective Security Advisors are security subject matter experts who engage with State, local, tribal, and territorial (SLTT) government mission partners and members of the private sector stakeholder community to protect the Nation's critical infrastructure.
  • Communicate with your customers and let them know about the security measures you are taking to ensure a positive experience and to maintain public safety.
  • If your business is located at or near a Federal facility, connect with DHS's Federal Protective Service at1-877-4FPS-411.
The following links are provided for your convenience:
https://www.dhs.gov/hometown-security#plan





IBANYS Webinars For 
New York Community Banks 
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


. . . Travelers Insurance Company, 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.  Meeting the insurance needs of depository financial institution clients, which can range from a community bank to a credit union to a diversified financial company, can be a challenge. Fortunately, Travelers has many solutions for this varied client segment.  Travelers insurance experts recognize the unique needs of financial institutions - an industry they've served since 1890. 

Travelers has flexible insurance options for a wide spectrum of financial institution professionals, including coverages for banks, credit unions, insurance companies, investment advisers, hedge fund, and mutual funds, venture capital, and private equity firms. With dedicated policies for financial institutions, Travelers offers a range of  insurance protection, including D&O, cyber, professional liability, financial institution bonds, ID fraud expense reimbursement and a full portfolio of property/casualty coverages. Choose either standalone coverage or a suite of coverages. Travelers has the flexibility to adapt to you and your business. 

Travelers offers a range of  insurance protection through Travelers SelectOne+®. This flexible product line provides a robust portfolio of insurance options, including D&O, cyber, bankers professional liability, financial institution bonds, ID fraud expense reimbursement and property/casualty coverages. Their portfolio includes coverage options to address financial institutions' management liability and property/casualty coverage needs, including:  
For additional information, contact Managing Director  Jason Crittendon :  (267) 675-3151,  e-mail:  [email protected].  Or, visit  travelers.com.



 
...That f or decades after the Federal Reserve Board was reorganized in the 1930s, it usually operated at full strength. That has changed dramatically in recent years. According to the Bipartisan Policy Center's  Nominations Tracker , during the same period when the Supreme Court had a vacancy only 2% of the time, the Fed board had at least one vacancy almost 75% of the time. During three separate periods since 2009 - totaling 103 days - the Fed has operated with only four of its seven governors in place. 



 

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