IBANYS UPDATE
IBANYS' 2015 Annual Convention:
A Major Success!!
IBANYS' Annual Convention last week at The Hotel Thayer at West Point was a major success. A very strong turnout of community bankers, associate members, preferred providers and business show exhibitors/ vendors enjoyed great weather throughout the entire three days.
BELOW: IBANYS Incoming Chairman John Buhrmaster (1st National Bank of Scotia) accepted the Chairman's Gavel from 2014-15 Chairman Chris Dowd (Ballston Spa National Bank), as IBANYS President & CEO John Witkowski looked on. IBANYS' 2015-16 officers will be Chairman Buhrmaster, Vice Chairman Doug Manditch (Empire Bancorp) and Secretary/Treasurer Mike Briggs (USNY Bank).
Special thanks to IBANYS' two Board Members whose terms expire next month: Dave Nasca (Evans Bank, N.A.) and Greg Hartz (Tompkins Trust). Both are Past IBANYS Chairmen.
Welcome to newly elected IBANYS Directors Tom Carr (Elmira Savings Bank), Gerald Klein (Mahopac National Bank) and Mike Wimer (Cattaraugus County Bank).
With our meeting rooms overlooking the Hudson River by the legendary United States Military Academy at West Point, our venue was both historic and beautiful. It all began with
Wednesday afternoon's Golf Tournament on a magnificent course (with each hole marked by blocks of granite detailing the history of the nation's wars from the West Point perspective including the number of cadets involved, military leaders, etc.)
The winning foursome included: Mike Wimers (Cattaraugus County Bank), Avi Barak (Sandler O'Neill), John Eagleton (Evans Bank, N.A.) and Scott Randall (Main Street Checks). Congratulations!
Wednesday night's Dinner Keynote Speaker, NYS Financial Services Acting Superintendent Anthony Albanese, discussed the Department's agenda for, and relationship with, community banks.
ABOVE: After a discussion with IBANYS' John Witkowski on the priorities and concerns of our community bank members, Superintendent Albanese said he is open to the idea of meeting with New York community bank CEOs to discuss the multiple challenges they face, including frequency and redundancy of exam cycles, duplicative state and federal regulatory burden, cyber threats/cyber security and the increasing difficulties these pose to our member banks. Mr. Albanese stayed for questions following his remarks, and promised to stay in touch with IBANYS and our membership to continue the dialogue.
Our new "Six Minute Drills" were also a success, as six of our partner firms (preferred providers and associate members) had the opportunity to showcase their products and services from the podium. Pat Hughes (UHY), Ken Swain (1st National Bank of Scotia), Jennifer Carmicheal & Michael Goodhines (Accume), Chris Hartman (All Covered Finance) and Chris Hart Nova (RidgeLogic) had their registration cards drawn during the drills, and had $250 donations to Cure the Blue made in their names or their company's names.
BELOW: ICBA Chairman Jack Hartings discussed community banking, and the industry's federal priorities and activities. Meanwhile, two Past IBANYS Chairmen and current members of our Board and Government Relations Committee, Paul Mello of Solvay Bank and Bob Fisher of Tioga State Bank, discussed the industry and Association federal and state priorities.
Presentations were very well received. Business sessions covered a wide array of issues, from branch transformation, cyber security, risk management, investment management and so much more! Presentations will be available on IBANYS website: www.ibanys.net. A number of comments and evaluations from bankers, partner firms, exhibitors and presenters gave this year's conference high remarks and favorable reviews, rating it among IBANYS' best ever.
ABOVE: ICBA Securities President Jim Reber presented a royalty check for more than $67,000 to IBANYS' Chairman Chris Dowd and President John Witkowski.
The Silent Auction to benefit NYSIBPAC, IBANYS' state political action committee, raised 43,900 in financial support for the Association's important political action efforts in New York State. Thanks to all our auction donors and bidders for your contributions and support! Our evening entertainment -- a bourbon and port tasting coordinated by
Tom Setino of FHLB and terrific musical entertainment by Nick Marizzo -- were well received and appreciated, as were all our sponsors!
Our Annual Convention Is Over. . .
What's Next?
IBANYS' Regional Directors Conferences
Bring YOUR Bank's Board Members
- Wednesday, October 21 (Rochester)
- Thursday, October 22 (Albany)
Director education is a crucial component to your bank's future profitability and success, and IBANYS is pleased to host two regional conferences specifically designed for New York community banks' board members and senior officers. As the banking industry works out of the latest financial/banking crisis, there has been a decline in the number of community banks, and a continued increase in
 our regulatory burden.
How can community banks survive and prosper in the current regulatory, business and banking environment? One way is by providing their board members and senior management teams with the necessary tools and best practices to help lead the bank to future growth and success. IBANYS' two single-day regional conferences will help you do exactly that.
We'll Examine Challenges YOUR Bank Faces:
Today, And In The Future
- Enhancing the branch structure
- Preparing for interest rate changes
- Ensuring strong financial performance and acquiring the requisite data
- Trends in compensation
- ERM & The Committee Process: Directors' Role
- Maximizing Profitability In A Consumer-Driven Market
- Creating Shareholder Value Beyond Just The Share Price
- The Job Of The Audit Committee
- Regulatory & Industry "Hot Button" Issues
Our Speakers Include:
- Shawn O'Brien, President of QwickRate;
- Greg Dingens, Head of Investment Banking at Monroe Financial Partners;
- David Ruffin, Co-Founder, Credit Risk Management;
- Flynt Gallagher, President, Compensation Advisors;
- Phil Pratt, Senior Consultant, Digital Insight (an NCR Company)
- Peter Scully, Managing Director, BancList.com,
- Patrick Hughes, Partner, & Laurie Shen, Principal, UHY, LLP;
- Karl Nelson, CEO, KPN Consulting
Click here for the full agenda and to register for our 2015 IBANYS Directors Conference.
Have You Signed Up For The Suspicious
Activities Webinar?
How do we catch the bad guys? The ways financial institutions monitor for suspicious activities must constantly be adjusted to keep pace with criminal masterminds. A free IBANYS webinar Wednesday,
 October 14 (from 3:00 to 4:30 PM) will address advanced monitoring techniques and highlight the latest money laundering schemes. Take the elevated risk out of your institution by learning ways to identify, monitor, and thwart money laundering activities. This webinar will provide useful tools for strengthening monitoring processes and valuable information for everyone from the frontline to the board. This webinar is designed for community banks' compliance officers, BSA officers and assistant officers, and other bank personnel responsible for monitoring suspicious activities.
Is YOUR Bank Supporting
Cure The Blue?
"Cure the Blue" raises funds and awareness regarding prostate cancer research in New York State. Lake Shore Savings Bank President & CEO Dan Reininga recently joined former Buffalo Bills Head Hall-of-Fame Coach Marv Levy and former Bills and Buffalo Bills Alumni Foundation  members Booker Edgerson and Ed Rutkowski at a recent event on behalf of Cure the Blue. The Bills Alumni Foundation and IBANYS are spearheading this long overdue effort, and IBANYS' member bank Lake Shore Savings Bank is strongly supporting the campaign. The bank has "Cure the Blue" ribbon pins available for purchase for a donation at all eleven of the bank's branches, and plans a branch wide fundraising event during September.
Lake Shore President & CEO Dan
Reininga has noted:
"
The exciting thing about this is that it's going to be a national campaign at some point. It's very exciting and we're very proud. It's what Lake Shore is all about - putting people first.
Can we count on YOUR bank or firm to join this truly important effort?
How Can Community Banks Control
Health Care Costs?
The "My Wellness Resource Card" may be your solution to helping to control your health care costs. Upgrade your employee benefits with a low-cost,
 non-traditional program to save time and money, and help retain employees. Provide on demand health care from U.S. board-certified doctors who will provide diagnosis, treatment options and necessary prescriptions via unlimited telephone medical consultations through
Telehealth. This program will also provide discounts and significant savings on a variety of medical and dental products.
Sponsored by My Wellness Resource, Inc. and by IBANYS, this program was
specifically designed to improve productivity, decrease absenteeism and boost morale without straining your bottom line.
Click here and
here to learn more about this exciting new alternative, or visit
www.ibanys.net for details and to enroll.
GOVERNMENT RELATIONS UPDATES
Schumer's & Gillibrand's Ratings Down
A new Quinnipiac Poll found that New York State voters approve of the job that U.S. Senator 54 - 32 percent of the job U.S. Sen. Charles Schumer is
 doing by a margin of 54% to 32% -- the lowest rating he has had since May 2, 2000. By a margin of 56% to 34%, voters believe Schumer deserves to be reelected in 2016. Sen. Kirsten Gilibrand had a job approval rating of 49% to 25%, her lowest rating since February 2012. New York State voters also gave President Obama a 51% to 46% job approval.
IN ALBANY:
-
Governor Cuomo floated the possibility that his proposed $15-an-hour statewide minimum wage could be accompanied by tax cuts for the business community to help ease the burden of paying workers more. He provided no details, such as how much of a break businesses might receive or which businesses would qualify for the relief.
- The New York State Department of Financial Services has posted its initial set of draft regulations regarding implementing legislation for corporate tax reform.
IN WASHINGTON:
Regulatory Update: Good News
From CFPB And FDIC
The Consumer Financial Protection Bureau (CFPB) released a summary of its final rule broadening the Qualified Mortgage rule's small creditor and rural
 designations, as advocated by both ICBA and IBANYS. The agency will update implementation materials on its Title XIV Rule Implementation webpage. The final rule will allow more community banks to receive QM legal safe-harbor protection for loans they originate and retain in portfolio, and will provide more relief from mandatory escrow
 requirements and include more balloon-payment loans as qualifying mortgages. ICBA continues to support statutory changes to the QM rule under its Plan for Prosperity program. Meanwhile, the FDIC released a Financial Institution Letter on banking egulators' proposed rule to simplify community bank call reports. Regulators have called for deleting certain data items and revising reporting thresholds, and are considering more relief such as a streamlined version of the call report. ICBA and the industry hope the decision to drop certain items from call reports is the only beginning of supervisory efforts to streamline the forms, and to further reduce community banks' burden.
On September 18, The American Banker ran an article detailing community banks efforts on the call reports issue. It quoted ICBA Senior EVP Terry Jorde: "We feel we are just at the beginning...but at least the process is starting and they are looking at this very closely."
To read the full article, click here.
INDUSTRY INSIGHTS
NYS DFS Seizes Credit Union
Manhattan-based Montauk Credit Union, a big lender to taxi-medallion owners, was seized last Friday by the New York State Department of
 Financial Services. That could be just the first such action, as several other credit unions have lent heavily against taxi-medallions, which are rapidly losing value due to the rise of Uber. DFS said Montauk operated in an "unsafe and unsound" manner and its operations would be taken over by the National Credit Union Administration, a federal regulator. It is the first time the DFS has seized a credit union since the agency was created in 2011.
Economic Items
- The number of Americans filing new applications for unemployment benefits fell for the week ended September 12, according to the U.S. Labor Department. The filings reached their lowest level in eight weeks. Initial claims for state unemployment benefits dropped 11,000 to a seasonally adjusted 264,000.
- U.S. home re-sales fell more than expected in August. The National Association of Realtors said on Monday existing home sales dropped 4.8% to an annual rate of 5.31 million units. Economists polled by Reuters had forecast a 5.51 million-unit pace of home sales last month. Sales were up 6.2% from a year ago. Nationwide, the median home price fell slightly in August to $228,700. That was still up 4.7 percent from a year earlier, but left the year-over-year rate at its lowest since August 2014.
IBANYS' WEBINARS ARE FOR NEW YORK
COMMUNITY BANKS
OUR Sessions Designed For YOUR Officers, Employees & Directors!
It's why more and more of your peers are participating. Shouldn't YOUR bank too?
In today's banking and business environment, community banks face a number of significant challenges. Bank officers, board members and employees understand that their responsibilities (and potential liabilities) continue to evolve. Is YOUR bank doing everything possible to provide them with the information and tools necessary? Are You Ensuring that they are fully informed, and equipped to manage the bank and guide it into the future?
IBANYS' webinars are specifically designed to meet the needs of community banks, and are both effective -- and, cost-effective. Your bank's officers, directors and employees can participate directly from their offices. The sessions are timely and provide real bottom line value.
THOSE are some reasons why participation in IBANYS webinars continues to grow. To review our upcoming programs, c
lick on the link below.
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