Hope everyone is doing well and looking forward to warmer weather this month!!

The last few weeks have been a little intense when it comes to our industry....and it will stay that way for a little longer based on what the fed and state regulatory agencies are doing to 'oversee' community banks. With the bank failures of SVB and Signature, the oversight and additional reporting of data by community banks is a little overkill by the agencies. The unfortunate piece is that most, if not all community banks, have reviewed your loan portfolios, investment portfolios, balance sheet and have taken the proper steps to ensure you stay well capitalized and in good standing.  

If there are any comments or concerns you want to share with me, please email me at your convenience.

Public Bank: This issue is alive and well in the legislature. In May, we are having a roundtable discussion with state senate and assembly members of the banks committee. There will be attendees that oppose (IBANYS) and activist groups in favor of a Public Bank. If anyone has any comments, please email me at Johnw@ibanys.net.

IBANYS is hosting our Virtual Spring event, Community Banks: Committed to our Communities on April 17-18. It is a PAY ONE PRICE for the bank and all employees are welcome to join the Zoom call for their choice of speaker or speakers.

NOTE: CPE CREDITS ARE AVAILABLE - Specific details are in the brochure and registration page.

It is time to register for the IBANYS ANNUAL CONVENTION AT THE TURNING STONE RESORT AND CASINO, JUNE12-14 - Hotel block ends soon and rooms are moving fast. Please reserve as soon as possible.

Exhibitors, sponsorship information

Attendee registration, NYSIPAC, and hotel information

We are happy to have Jack Hubbard sharing his professional experiences in helping bankers build and strengthen their relationships with clients. This Co hosted event with Jack Hubbard is on June 21 at Turning Stone. Brochure and registration form click here.

IBANYS MEETINGS

BHG Financial

COCC

Compass IT Compliance

Dox Electronics, Inc.

Federal Home Loan Bank of NY

Freed Maxick CPAs

Harris Beach PLLC

Hartman Executive Advisors

Heilbronner Consulting

ICBA Securities

InfoAgora, Inc.

KOW Building Consultants

NEACH

Newcleus Bank Advisors

Plante Moran

Rivel, Inc.

Smith & Wilkinson

ATM Consultants

BHG Financial

Brown Security Solutions, LLC

COCC

Compass IT Compliance

DataSure24

Dox Electronics, Inc.

Federal Home Loan Bank of New York

Hartman Executive Advisors

InfoAgora, Inc.

IntraFi Network

KOW Building Consultants

La Macchia Group

Magee Company

NEACH

NES Group

Newcleus Bank Advisors

R&T Deposit Solutions

The Bonadio Group

IBANYS has partnered with Innovation Refund (IR) to provide banks and their small business clients an opportunity to receive Employee Retention Credits.  

This is a great opportunity to call your small business and commercial clients and strengthen your relationship by introducing them to IR. 

Please join us for an informative session on how to generate revenue for the bank and for your clients because they 'did the right thing' during the pandemic.

Here is the webinar information:

Winning with ERC! Webinar, Tuesday, April 11, 9:30-10:30 Eastern

Please Join Us for an educational webinar presented by Innovation Refunds our chosen Partner for assisting Community Banks educate and assist their Clients with all things ERC.

Are you SMB Clients asking you about claiming the Employee Retention Credit (ERC)? 

Are you unsure of how ERC works, who is eligible, how your Clients can access it and how much longer the program runs? 

This educational webinar will address all of those questions as well present how the Innovation Refunds marketing partnership will benefit your bank and your state association. 

Agenda:

ERC Overview

• What is it?
•  Who is eligible?
• When does the program expire?

Innovation Refunds Overview

• Who we are and what is our role with your bank
• How we help your Clients claim ERC
• How our Marketing Partnership works to grow your deposits and non-interest income

We will be addressing the most common FAQ’s

• Is my bank eligible for ERC?
•  Is Innovation Refunds the right ERC partner for us and will they be around after ERC is over?
•  What happens if there is an audit?
• How much work and cost is required to get started?

Please use the link provided to RSVP today! https://qr.codes/Kc0TW5

Join Wolf & Company and Shield Compliance for an Executive Forum on Cannabis Banking in New York City on May 4, 2023. This one-day event is for executive leaders at financial institutions in the Northeast who are either considering or currently developing a cannabis banking program. Industry experts will cover regulatory requirements, legal considerations, compliance and risk management, financial modeling, lending, and cannabis banking best practices. Association members receive a $100 discount by using promo code IBANYS at registration.

1071 Press Release

I’m guessing you heard 1071 was released last week. Ncontracts would like to share the attached press release with our partners. It highlights Ntransmittal’s new functionality required by 1071. Please feel free to share with your members. Link to Release: https://www.businesswire.com/news/home/20230330005756/en/Ncontracts-Ready-for-Section-1071

Ask the Expert: How to Draft Risk Assessments 

Creating the most effective risk assessments involves a combination of research, analysis, experience, and collaboration. This month’s article features a Q&A from Ncontracts Monica Bolin, CERP, NCRM about her method for crafting risk assessments, the elements of a good risk assessment, and strategies for drafting a risk assessment when unfamiliar with the area being assessed. Read Article

Webinar to promote to your members – Section 1071 Compliance: What Does the Final Rule Mean for Small Business Lenders Like You?

Date/Time: Thursday, April 20, 2023 at 1pm CST

Speakers: Alesha Briley, Monica Bolin, and Stephanie Lyon

Description:

The CFPB has finally released its final rule implementing Section 1071 of the Dodd-Frank Act. What do small business lenders need to do to comply? Our regulatory compliance experts have gone through all 800+ pages and are ready to break it down for you.

In this webinar, we’ll explain:

• Which lenders must comply with 1071
• Definition of a small business under 1071
• Data fields and deadlines
• What you need to do to comply
• Best practices for implementation

Whether you're a commercial lender, compliance professional, or member of the C-suite, this webinar will help you understand what the Section 1071 final rule means for your team and how to move forward with confidence. Link to register: https://hubs.ly/Q01JHDZd0

ICBA’s 2023 Capital Summit in Washington, D.C. will feature remarks by OCC Comptroller Hsu, FDIC Director Gruenberg, CFPB Director Chopra, Treasury Assistant Secretary/Financial Institutions Steele, senior representatives from the Fed, and Senate Banking Committee member Rounds (R-SD). . . Register here.  NOTE: IBANYS will coordinate meetings "on the hill" with members of the New York congressional delegation. We have New Yorkers on a number of key House committees, as well as

9 new members of the delegation since we gathered last spring. Watch for more details.

We will be back next week with more updates on legislative and regulatory issues important to NY Community Banks.

A quiet state Capitol as legislative leaders and Hochul meet behind closed doors to try to reach a budget deal, now five days late…

ICBA launches National Campaign — With banking news making national headlines, ICBA formally launched its national public awareness campaign to differentiate community banks from other financial institutions and educate consumers on the benefits of banking locally.

New Campaign: The ICBA National Campaign:

• Includes market research, creative advertising, public relations, and media strategy.
• Provides resources to help community banks amplify the benefits of banking locally.
• Drives consumers to banklocally.org to help them find a community bank in their area.

Read More

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Bank trading revenue declines in Q4: OCC — The OCC reported cumulative trading revenue of U.S. commercial banks and savings associations of $9.6 billion in the fourth quarter of 2022, down 24.5% from the previous quarter and up 33.9% from a year ago.

Details: The agency said 1,139 insured institutions held derivatives, with four large banks holding 88.2% of the total. Derivative contracts remained concentrated in interest rate products, which represented 73.2% of total derivative notional amounts.

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CFPB 1071 final rule exceeds letter of the law: ICBA — ICBA said it is deeply frustrated with the Consumer Financial Protection Bureau’s newly released final rule implementing Section 1071 data collection and reporting requirements for small-business loans. ICBA Response: In a national news release, ICBA said the final rule dramatically exceeds the letter of the law and will require community banks to burden millions of their small-business customers with invasive questions about their livelihood beyond what Congress required. “The CFPB’s rigid data collection requirements will hamper the ability of community banks to tailor loans to meet the unique needs of local businesses,” ICBA President and CEO Rebeca Romero Rainey said. Read more