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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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In This Issue:
- Important updates on the Annual Convention & Cyber Security Conference & A Quarterly Compliance Webinar
- A New ProposedDFS Cyber Security Regulation & House GOP Community Bank Reg Relief Bill
- Valuable Products & Services For Community Banks. . .And, Much more!
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An Important Message From IBANYS President & CEO
John Witkowski
Dear IBANYS Colleagues,
I hope everyone is looking forward to a fantastic IBANYS Annual Convention - "Transformation, Innovation and Collaboration" - at the Turning  Stone Resort in Verona, N.Y. October 3-5) now just a few short weeks away. We have assembled a great line-up of speakers, as well as some unique networking opportunities and entertaining activities this year. New York community bankers, IBANYS' preferred providers, associate members, sponsors and exhibitors and guests: Time is running out! If you have not yet done so,
register today!
Today, I need your help on three convention-related matters. If you have questions or want more details
on any of these requests, please contact me (
[email protected], 518- 436-4646) or Director of Operations Linda Gregware (
[email protected], 518 436-4646).
- As in the past, one of the most important activities at this year's Annual Convention is our "NYSIBPAC Silent Auction" Tuesday evening, October 4th. It has always been a success - primarily because of the generosity of our banks and associate members, who donate such interesting and attractive items. I am asking that you continue your generosity by donating items for this year's event, so we can display them in our business trade show booths during Tuesday evening's silent auction. Donate your gifts for the auction -- by no later than September 15. Earlier this week, I emailed you a list of ideas for auction items, where to send your donated items prior to convention, and the necessary forms that need to be completed. The silent auction is a key source of financial support for NYSIBPAC, IBANYS' state political action committee that supports state officials and candidates who understand New York community banks' needs and priorities. This year's hotly contested election makes it vital for us to be involved in the process!
- We also still have a few great sponsorship opportunities left for the convention as well. It is an important way to visibly demonstrate your support of New York's community banks, as we recognize our sponsors in our printed materials, signage and from the podium. I also e-mailed you the list of available sponsorships, and you can click on the link below to review and sign up.
- 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. I am looking for banker volunteers to stay an extra four hours at the end of the convention, to hear new ideas that help community banks, both in New York State and across the country. It's an important way we all can be involved in continuing to provide real value to our membership -- as well as to our association.
I hope we can count on you to help in each of these requests. As always, thanks for your continued participation and support of IBANYS!
IBANYS'
2016 Annual Convention
Is In Just 18 Days! Are YOU Registered?
- Community Bankers: Click here to register and to view the agenda.
- Associate Members, Preferred Providers, Exhibitors, Sponsors: Click here.
. . .There will be outstanding
networking, recreational and dining/refreshment opportunities:
- 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.
. . .Our B
usiness Program
I
ncludes
T
hree Outstanding Keynote Speakers
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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 will kick off our program Monday night, Oct. 3.
- R. Scott Heitkamp is Chairman-elect of the Independent Community Bankers of
 America® (ICBA) and President and CEO of ValueBank Texas in Corpus Christi, Texas. A key voice for community bankers across our country, Scott will share ICBA's perspective on community banking, and provide an update 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, We'll 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.
Panel On Accounting, Auditing
& Taxation
(L. to R.: John Doherty, Jana Bacon, Dan Morrill)
Three experts from Wolf & Company, PC will present "The Busy Banker's Panel On Accounting, Auditing and Taxation: Current Trends And The Rationale behind Them." Panelists will
include: John Doherty, CPA Member of the Firm, Jana Bacon, CPA Member of the Firm & Dan Morrill, CPA Director of Professional Practice. With all of the ongoing
significant changes in the areas of accounting, auditing and taxation, the panel will examine current trends that impact community banks, and the rationales by governing bodies to implement such changes. We'll examine the new accounting rules and their tax impacts related to such areas as leasing, stock based compensation and allowance for loan losses
. . .as well as trends in multi-state taxation.
The Web Is Your
Digital Branch:
Who's Walking In & Who's Walking Out?
Charlie Graham (Founder/Creative Director, Volum8, Inc.) will be our presenter. From  SEO and online reviews to your website and mobile apps, people are drawing conclusions about your bank before even stepping foot in a physical location. This presentation provides a current digital marketing overview for community banks focused on leveraging modern technologies with a Millennial mindset.
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.
Thanks To These Supporters
& Sponsors Already On Board:
- ACBB
- Continuity
- DEI, Inc.
- Federal Home Loan Bank of New York
- ICBA
- Pentegra Retirement Services
- Roosevelt & Cross
- Sandler O'Neill & Partners
- SHAZAM
- Smith & Wilkinson
- T.Gschwender & Associates, Inc.
- Wolf & Company
Reserve Your Booth!
Become
A Sponsor!
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As John Witkowski noted above, 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, providing your company the opportunity to connect with community bank leaders. Click on the link below to s
elect your exhibitor space and choose the the event you would like to sponsor today.
to sponsor/exhibit!
IBANYS' Regional
Security
Conferences Are Oct. 19 - 20
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. Y
our bank should plan to attend IBANYS' Regional Security Conferences on
Oct, 19
(
Rochester
Marriott Airport)
and Oct. 20
(Comfort Inn & Suites in Castletown, in the
Capital District
), to hear speakers 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"
Click here for the brochure including program and registration information.
CSI To Host 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) is hosting the next complimentary Quarterly Compliance webinar. Join Keith Monson, CSI's chief risk officer, for a free webinar on important regulatory updates from this quarter and an executive summary of FinCEN's Customer Due Diligence (CDD) final rule. We'll 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 in order 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. It's important that bankers understand who their customers are, and what type of transactions they conduct, in order 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
Don't miss this important risk and compliance update.
Register today 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!
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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
- 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
Albany
DFS Proposes New Cyber Security Reg
Governor Cuomo yesterday announced a new proposed regulation "to protect New York State from the ever-growing threat of cyber-attacks." It would require banks, insurance companies, and other financial services institutions regulated by the State Department
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of Financial Services (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, and 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 noted:
"DFS designed this groundbreaking proposed regulation on current principles and has built in the flexibility necessary to ensure that institutions can efficiently adapt to continued innovations and work to reduce vulnerabilities in their existing cybersecurity programs. 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."
DFS surveyed nearly 200 regulated banking institutions and insurance companies "to obtain insight into the industry's efforts to prevent cybercrime". The Department met with banks and cybersecurity experts to discuss emerging trends and risks, due diligence processes, policies and procedures governing relationships with third party vendors.
The proposed regulation is subject to a 45-day notice and public comment period before its final issuance. New York community bankers: IBANYS' Regional Cyber Security Conferences are October 19 - 20 in the Rochester and Albany areas.
Click here to register.
Tuesday was primary election day in New York State, and
this link shows and analyzes the results of some of the higher-profile state legislative races.
Washington, D.C.
House Financial Services Committee
Passes "CHOICE ACT"
By a vote of 30-26, the House Financial Services Committee has passed H.R. 5983, Chairman Hensarling's (R-TX)
CHOICE Act, which
would provide regulatory relief to community banks  and other financial institutions. The bill includes a number of provisions from ICBA's "Plan for Prosperity" regulatory relief platform, which IBANYS has strongly endorsed and advocated for in Washington in meetings with New York's Representatives and Senators. Among other things, it includes reforms to mortgage lending rules and call report & data collection, and would repeal the Durbin Amendment price controls on debit card interchange fees. The bill may well be re-int produced by Chairman Hensarling in the new congress that convenes in January.
Meanwhile,
t
he U.S. Chamber of Commerce has proposed a broad overhaul of the financial regulatory system. The Chamber's plan has some similarities to the CHOICE Act, but includes broader issues such as creating a bipartisan presidential commission to restructure regulatory agencies; establishing a congressional panel to study the impact of financial technology, and "shining more light" on regulatory processes at the Federal Reserve and Financial Stability Oversight Council.
Can 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.
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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 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
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Smith & Wilkinson, an e
xecutive search and recruiting firm for the banking and credit union industries. Experts in delivering high level assets for community and regional banks, they are a leading boutique search firm specializing in professional level, middle management, and executive search.
Their
dedicated team possesses the skill and judgment to separate the exceptional from the average performer and the experience to assess each candidate against the needs of the position. This is not an easy skill, and it takes years of experience working within the banking community and speaking with and assessing thousands of Executives.
Smith & Wilkinson clients run the gamut, from publicly traded commercial banks, to mutual savings banks serving rural communities. With assets ranging from $100MM to $100B, they represent the breadth and diversity of our country's banking system.
Despite their differences, what all Smith & Wilkinson clients share is a commitment to hiring the best and the brightest, not just the most readily available candidates on the market.
As one of the top boutique executive search firms in the country, Smith & Wilkinson has a keen eye for the exceptional, and their network of top companies and top talent is unrivaled. Their
dedicated team
is nimble, discreet, and effective
in creating solutions for clients based on the specific circumstances of the search.
Visit the website at:
Or e-mail:
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...That
banks are among the most targeted institutions for cyberattacks. Not only do they hold vast amounts of money and sensitive personal information, but ATMs and online and mobile banking services may be exposed to hackers.
Cyberattacks on the country's largest banks are often in the headlines, but some regulators are concerned about the vulnerability of some smaller banks, with perhaps less robust cybersecurity, and whether they might be targets for those seeking to infiltrate the US financial system. S
maller banks often don't have the resources to hire technology experts, and cannot spend millions for the most sophisticated software to thwart cyberthreats.
Banks are so interconnected, doing business with each other and interacting with the Federal Reserve, that an attack on a community bank could eventually infect larger banks, spreading like a virus and threatening the stability of and confidence in the banking system.
New York community banks: Click here to register for IBANYS' Regional Security Conferences in the Rochester area(Oct. 19) and Capital District (Oct. 20).
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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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