June 22, 2022
IBANYS Weekly E-Newsletter
President's Message

Now that our IBANYS' 2022 Annual Convention has wrapped up, we wanted to share some of the comments from our attendees and and also the links to interviews conducted at our event by CBIS Services Vice President Ken Kraetzer:


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This is what our attendees are saying about IBANYS 46th Annual Conference – “Community Banks MOBILIZED – Banking for the Future”

  • Jenny and I really enjoy the convention – You and John did a great job of organizing it and making it fun. We met numerous people we are following up with – We cannot wait for the next in person event! 
  • Thank you so much for such a great event! It was great to finally meet you in person and I’m looking forward to working with you all more closely in the future! It was great for me (being new to this role) to be able to meet so many of my NY banks and to have conversations with some of those that are not members! Great job!!! Looking forward to the next time we are all together.
  • It was a hectic day today, so John, you beat me to it - but I had every intention of sending you an email today to say that, for me, this was the very best IBANYS Convention yet!! Not only was it GREAT to be with everyone in person, but it was an exceptionally good line-up of speakers & presentations, exhibitors, etc, etc ...And for all of that,I most especially want to say THANK YOU to both of you!!
  • Great event!
  • John. Thank you for all the hard work you and Linda put into the event. We found it extremely informative and are excited to work with some of the vendors that attended.
  • It was the BEST IBANYS annual conference I’ve ever attended! 
  • I just want to say as a first timer, what an experience. The convention was fantastic. Great information and great people, not to mention great food. Thank you both for organizing the event. Bringing community bankers and venders together for the best interest of our communities is great. The convention made it simple to meet new contacts. I’m looking forward to more opportunities like this in the future. Thank you again!

Thanks again to all our member banks, associate members, preferred partners, sponsors, exhibitors and speakers for helping to make our 2022 convention such a success. . .We hope to see all of you once again at IBANYS' major fall meeting: Our Executive Bank Symposium September 12 - 14 Location to be determined.

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IBANYS congratulates First National Bank of Dryden on a 120 years in business. Click here to learn more about the history of the bank.
 
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The annual summer congressional recess in August is now just around the corner, when your local Members of Congress will be back home in the district. It's a great opportunity to connect with them, remind them of all you do for your communities, and discuss important federal legislative issues and priorities. ICBA’s executive vice president of advocacy and strategic engagement (and Buffalo native) Aaron Stetter provides tips for making lasting personal connections with lawmakers to support top ICBA policy priorities in this month’s  Independent Banker magazine.  . .  Read more. 
CONVENTION Silent Auction Donors & Winners
THANK YOU!!!
IBANYS MEETINGS
September 12-14, 2022
Executive Bank Symposium

LOCATION TO BE DETERMINED
ASSOCIATE & PREFERRED PARTNERS
Contact: Andrew Rampulla, Area Vice President
7347 Charlotte Pike
Nashville, TN 37209
Phone: (732) 966-6906
E-mail: arampulla@banccard.com
IBANYS Welcomes our Newest Associate Member
BancCard of America
Transaction authorization, processing and network services for credit and debit cards.

We understand the importance of trusted relationships.

We meet our customers face-to-face and listen to their needs. Coordinating with our banking partners, we work closely with business owners in their own communities. And by locating close to the businesses we serve, we can respond quickly to the needs of owners where they work.

A seasoned, professional team.
Our depth of experience, industry intelligence and knowledge of the technology world enables us to recommend reliable solutions. And because we’re strategically aligned with the top processors in the industry, we’re able to deliver the most sophisticated and secure systems. We’re committed to driving down risk, pushing profitability higher, and supporting business relationships.
Contact: Ken Michael, Vice President
105 College Avenue
Rochester, NY 14607
Phone: (585) 473-7766
E-mail: Kenm@doxnet.com
IBANYS Welcomes our Newest Associate Member
Dox Electronics
New York State's IT Support Experts.
Dox has been serving New York since 1982 when Ken Michael founded the company in his basement. Dox Electronics began as a computer repair company, but quickly grew and expanded services as the market demand called for it.
Today, Dox has multiple locations in upstate, central, and western New York serving hundreds of clients in Rochester, Buffalo, Syracuse, Albany, and beyond where we provide the best in business technology and IT support. From consulting and cyber security to technical helpdesk support and computer support, we are here for small to large businesses.
It has always been our goal at Dox to provide enterprise-level IT practices and solutions that best fit our client’s needs and budget. Whether you want to protect the personally identifiable information (PII) of your clients, add Security Information and Event Management (SIEM), or employ a virtual desktop infrastructure (VDI), our experience has allowed us to build and develop the infrastructure needed to keep our prices affordable and our clients up and running.
 Aug 8-11, 2022                              Virtual/Live Training
  HR Management 2022
This workshop is designed to provide intensive training for employees in Human Resources Management.

TOPICS INCLUDE
  • Employee Recruitment, Selection, and Placement
  • Situational and Behavioral Interviewing
  • Driving Employee Engagement
  • Creating an Accountability Culture

AUDIENCE 
  • Human Resource Managers 
  • Branch Managers 
  • Department/Division Managers
  • Management/Hiring/Coaching/
  • Counseling Responsibilities
Instructor, Kerry Sauley, is the Marjorie B. Ourso Excellence in Teaching Professor at Rucks Department of Management, Louisiana State University, Baton Rouge, LA.

PRICE:
IN PERSON: $695
VIRTUAL (VIA ZOOM): $595
5 Areas a Financial Institution Should Review When Considering a Merger or Acquisition
Now might be the best time to consider a merger or acquisition (M&A) despite the uncertain environment. Technology is changing the way we bank daily, and financial institutions should be looking forward to meeting the needs of their account holders. A merger or acquisition can provide significant benefits if the strategy is well thought out before any formal agreement is made. However, getting all stakeholders on the same page about what matters most can be challenging.
ICBA INFORMATION
Up with Coupons
Larger interest payments can build a floor under your bond prices
By Jim Reber, ICBA Securities
Jim focuses on how larger interest payments can build a floor under your bond prices, and suggests strategies that can improve life for community banks.
ALBANY UPDATE

  • The Democratic and Republican primaries for statewide offices will be held next Tuesday, June 28. Early voting has already begun. We will have results in next week's newsletter and Updates.

  • Despite economic headwinds, there's no slowdown in hiring in parts of New York so far.   New York state's private sector added more than 27,000 jobs last month as hiring continued on a similar pace with the rest of the country despite spiking inflation.  Read More

  • State business leaders want Gov. Hochul to "tweak" legislation approved this year requiring employers to disclose the salary and salary range of any posted job listing before signing it into law.  Read More. Meanwhile, business owners and personal injury attorneys are battling over the proposed Justice for Injured Workers Act, which would increase workers compensation for milder injuries and make it easier for injured workers to seek additional benefits during their recovery.   Read More

  • New York State Comptroller Thomas DiNapoli  offered his thoughts on the state of the economy. Meanwhile, according to an annual report from DiNapoli's office, the number of projects by New York's local Industrial Development Agencies (IDAs) decreased by 58 (1.3%) since 2019 -- continuing a long-term trend during which project values have increased by 57% and the number of projects has declined by 4% since 2010.  Net tax exemptions doubled over the past decade, to $966 Million. Jobs gained during the 2020 COVID year were the smallest in the past decade. 

  • New York Green Bank's new fund will finance clean energy in underserved areas. The state-sponsored entity plans to launch a $250 million “community decarbonization fund” to finance electrification, energy efficiency and onsite power projects in disadvantaged communities. Read story →

REMINDER:

The New York State Legislature adjourned for 2022 without allowing credit unions to bid on municipal deposits, and did not approve establishing a state bank or public banking at the state or local levels. 1) Before leaving Albany, the Senate passed legislation in the closing hours to allow credit unions to accept and secure deposits from municipal corporations. However, the bill was never taken up by the Assembly. After discussions with IBANYS, New York community bankers and our allies, Assembly Banks Chair Pat Fahy (D-Albany) withdrew her Assembly version of the bill in May, saying it needed more work before being resubmitted for consideration. The bill was never put back on the agenda. . . 
2) Legislation to establish a state bank, and/or to allow localities to establish public banks at the level was introduced in both houses. IBANYS, New York community bankers and our allies met repeatedly with the Senate and Assembly Banks Committee Chairs to explain our position and concerns and propose alternative approaches to meet the needs of unbanked and underbanked communities by utilizing existing vehicles. In the end, the only bill considered -- to create a temporary special commission "to conduct a feasibility study on the formation and control of a state public bank ' -- was never brought to a vote in the Assembly.
WASHINGTON UPDATE

  • The FDIC plans to increase assessment rates by 2 basis points for all insured depository institutions. This would increase costs for banks as they continue to see high deposit growth more than a year after the last round of pandemic stimulus. The  FDIC proposal  — open for public comment through Aug. 20 — is designed to increase the likelihood that the DIF reserve reaches the statutory minimum of 1.35% by the September 2028 deadline. Due to economic stimulus measures enacted in response to the pandemic, deposit growth is outpacing Deposit Insurance Fund growth -- causing the DIF reserve ratio to decline below the required 1.35% minimum. The reserve ratio stood at 1.23% as of March 31. The proposed assessment rate schedules would begin with the first assessment period of 2023 and remain in effect unless and until the reserve ratio meets or exceeds 2%. ICBA said it is closely reviewing the proposal, and is concerned it would significantly affect many community banks.  ICBA will work with the FDIC to mitigate the potential adverse impact on community banks while ensuring the DIF reserve ratio meets its statutory minimum by. 9/3028. RE

  • Also: The FDIC eliminated underbanked households from its regular survey of the banking system during the Trump administration, but is now reversing that decision.   Read story →

  • ICBA and other groups   called on the FDIC   to reconsider its decision to eliminate the Office of Supervisory Appeals and reinstate the agency’s Supervision Appeals Review Committee.  In a joint letter, the groups said: 1) The SARC has long been an underutilized forum for supervisory appeals because it is not an independent or impartial decision-making body; 2) The FDIC did not give the public time to supply comments in advance, soliciting feedback only after instituting the change. Under last month's  revised  Guidelines, the FDIC replaced the OSA with the SARC as the final level of review in the agency’s supervisory appeals process—reversing guidelines released in December. The change was effective immediately with a 30-day public comment period. ICBA  said  reconstituting board-level review using the SARC calls into question the agency’s commitment to a more independent supervisory appeals process. ICBA has previously said said establishing a separate appeals office independent of the federal banking agencies is the best approach to establishing a more transparent and independent appeals process.

  • The House Financial Services Committee was set to meet today.  In a message to the committee ICBA urged: 1) Passage of the Close the ILC Loophole Act (H.R. 5912), which would amend the Bank Holding Company Act to permanently close the loophole. 2) Opposition to the Overdraft Protection Act (H.R. 4277), which contains overdraft restrictions that would force many community banks to stop offering overdraft services while increasing bounced checks and declined debit card transactions. 3) Opposition to the Small Business Fair Debt Collection Protection Act (H.R. 6814), which would make it harder for community banks to communicate with struggling small-business debtors to provide relief. ICBA has urged community bankers with representatives on the committee to speak out on the bills via a customizable action alert to their lawmakers.

  • President Biden urged Congress to suspend federal gas taxes – both the roughly 18-cents-per-gallon tax on unleaded gasoline and the roughly 24-cents-per-gallon diesel tax --  through September.  The proposal is not likely to receive sufficient congressional support. The President  also urged more states to suspend levies or find other ways to help consumers.   Read more...

  • President Biden will appoint  Marilynn "Lynn" Malerba -- Chief of the Mohegan Indian Tribe -- as U.S. treasurer, overseeing the U.S. Mint, acting as a conduit to the Fed and managing the Treasury Department's Office of Consumer Policy. Malerba is the first Native American to hold the position.  The Associated Press