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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 2015 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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A MESSAGE FROM IBANYS PRESIDENT
& CEO JOHN WITKOWSKI
I would like to say a final special Thank You to all of the sponsors, exhibitors and speakers who made our recent 2015 IBANYS Annual Convention such a
 great success. West Point is a great venue, and the weather could not have been better. Thank you as well to all of the convention attendees who provided their feedback on our evaluation forms -- and, for all of your support during the year!
Meanwhile, I'm pleased to provide a couple of updates to close the books. Our new "Six Minute Drill" segments were well received, by the presenters as well as attendees, and our PAC Silent Auction raised close to $4000. Once again, thank you for all the support.
In conclusion, this event would not have been a success without the great work and tireless efforts of Linda Gregware, IBANYS' Director of Administration and Membership Services!
We are already planning for next year's Annual Convention and will have news on that soon, so watch this space!
. . .To Our Sponsors & Exhibitors For Their Support Of Our 2015 Convention!
Sponsors:
- ACBB
- BBN
- Bowers & Company
- Continuity
- Federal Home Loan Bank of New York
- Finger Lakes Technology
- Five Star Bank
- ICBA
- Jamesson Associates
- Main Street Checks
- New York Business Development Corp.
- NBT Bank
- Pentegra Retirement Services
- RidgeLogic
- Roosevelt & Cross
- Sandler O'Neill
- Smith & Wilkinson
- Strategic Resource Management
- T.Gschwender & Associates
- UHY, LLP
- Wolf & Company
Exhibitors:
- Accume Partners
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All Covered Finance
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Annie Mac Home Mortgage
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Bankers Healthcare Group
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Bowers & Company CPAs, PLLC
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CEIS Review
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Computer Services, Inc.
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Cummins Allison Corp
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Federal Home Loan Bank of New York
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Finger Lakes Technologies Group, Inc.
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First Data Corporation
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Genesis PPG
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ICBA
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ICBA Securities
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M & T Bank
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Magee Company
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Main Street Checks
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Meyer-Chatfield
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New York Bankers Association
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OTC Markets Group
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Pentegra Retirement Services
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PrecisionLender
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Promontory Interfinancial Network
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SHAZAM
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Strategic Resource Management
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The Bonadio Group
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The James Paul Group
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UHY Advisors
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Volum8 Creative, Inc.
- Wolf & Company, P.C.
Sign Up For IBANYS' Regional
Directors Conferences
- Wednesday October 21 (Rochester)
- Thursday, October 22 (Albany)
& Senior Officers Fully Informed?
Director education plays a vitally important role in ensuring your bank's future profitability and success. Regulators have made it clear they expect community bank board members and senior management to provide the guidance and leadership, and be fully up-to-speed on the multitude of challenges their institutions face in today's environment. In October, IBANYS will host two regional directors conferences designed specifically 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 & In The Future. . .
And, Provide Practical Best Practice Solutions
- 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.
IBANYS Webinar:
New Security Officer Training:
Responsibilities, Best Practices & Skill-Building
If you have been the security officer for less than three years, or have been newly assigned, this is the program for you. If you are a veteran security officer, this is a great refresher course on your
 position's requirements. Learn about the regulations, industry standard practices, and pointers on how to report to the board. This program will focus on implementing regulations for the Bank Protection Act, specifically on Regulation H, to demonstrate the framework of what your bank security program should contain. The implementing regulations are very specific, while allowing leeway for risk management decision-making. This webinar will include best practices and demonstrate with actual pictures what is needed to comply with the Bank Protection Act. Learn how to prepare and implement your security program for today's world.
Participants will also benefit from a TAKE-AWAY TOOLKIT:
- Regulation H checklist to determine if your security program is current
- Night inspection form to help implement your physical security inspections
- "Proper Employee Conduct During and After a Robbery" form for your training program
- Basic information on conducting physical risk assessments
- Basic information on different robbery styles
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
For additional details, and to register, click here
Have You Joined Our Cure The Blue Effort?
"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?
Here's How To Control
Health Care Costs
The "My Wellness Resource Card" may be your bank's solution in controlling health care costs. At the same time, you can 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
IN ALBANY:
GOP Candidate Ahead In Key State Senate
Race
In Southern Tier
A new Siena/TWC Poll this week found Republican candidate Fred Ashkar leading Democrat Barbara Fiala by 28% in the race to fill the NYS Senate seat
 vacated by the resignation of former Deputy Majority Leader Tom Libous. Ashkar leads by 34% among Independent voters. Ms. Fiala has been endorsed by Governor Cuomo, in whose cabinet she served as Commissioner of Motor Vehicles. The poll found 59% of likely voters in the district held an unfavorable view of the Governor. The election will be held this November. Republicans currently hold the governing majority, and enjoy the added support of members of the Independent Democratic Caucus and other senators elected as Democrats but who vote with the GOP.
DiNapoli: State Tax Collections Up
NYS Comptroller Tom DiNapoli said total receipts through the first five months of the State's fiscal year totaled $59.9 billion - $609 million higher than the state Division of the Budget's August
 projections. Spent funds of $54.9 billion over the period were $473.2 million below projections. "The state's cash position has improved further in recent months, largely because of higher than projected revenues and lower than projected spending. However, with the state's strong reliance on Wall Street profitability and the recent volatility in financial markets, the revenue outlook for the remainder of the fiscal year is uncertain." Business taxes collected through August totaled $164.2 million above recent projections. Business taxes totaled $2.4 billion through August, $246.9 million below last year.
IN WASHINGTON:
Congress "Must Act" On Community
Bank Regulatory Relief
In an op-ed article in the
Washington Times on the need for Congress to provide community bank regulatory relief, ICBA President & CEO Cam Fine wrote: ". . .Chairman Shelby's bill moves beyond the tired rhetoric heard
 over and over since the financial collapse. It offers a reasonable solution for moving forward on meaningful community bank regulatory relief so desperately needed in Main Street America. . .The U.S. Senate has an opportunity to do the right thing, but it must act. Democrats and Republicans need to reach across the aisle, end the bickering and uncertainty over financial reform, and find a path to support a compromise bill. They need to drop the ideological politics, focus on sound policy, and come together to pass common sense regulatory relief for Main Street. Otherwise, the Dodd-Frank Act will have the unfortunate legacy of regulating community banks out of existence and handing the banking system entirely over to Wall Street."
In other developments:
- ICBA and the industry have urged the House Financial Services Committee to pass regulatory relief bills today. They include H.R.1266, to replace single director governance of the CFPB with a five-member commission; H.R. 957, to create an independent CFPB inspector general, and H.R. 1090, to prohibit the U.S. Labor Department from issuing new fiduciary rules before the SEC issues uniform fiduciary standards.
- ICBA and the industry continued to strongly oppose any reduction in the dividend rate paid on Federal Reserve stock as a funding mechanism for transportation legislation. Community bankers are encouraged to oppose the provision. It would reduce the dividend fro 6% to 1.5%. Banks are required to hold the stock as state-chartered Federal Reserve members or as national banks.
- The Conference Board's Consumer Confidence Index inched up to 103 in September, beating estimates. Economists polled by Reuters expected a reading of 96.1. August's reading was 101.3. Consumers who said business conditions are "good" increased 23.7% to 28.0%, while those claiming business conditions are "bad" declined modestly from 17.8% to 16.7%. Consumer optimism about the short-term outlook was mostly flat in September. The percentage of consumers expecting business conditions to improve over the next six months increased from 16.6% to 17.9%, but those expecting business conditions to worsen also increased, from 9.1% to 10.3%.
- A monthly index measuring signed contracts to buy existing homes, so-called pending home sales, fell 1.4% in August compared to July, according to the National Association of Realtors. Expectations had been for a slight increase. While sales are still 6.1% higher than one year ago, the annual gains are shrinking. Pending home sales in the Northeast fell 5.6% for the month, but are 8.9% above a year ago.
- New York Federal Reserve Bank President William Dudley this week said the Fed is on track for a likely rate hike this year, possibly as early as October, and added he believes the Fed's two percent inflation target could be reached sometime next year, a year or more sooner than the median forecast by Fed policymakers earlier this month.
- Just 47.5% of employees in the mid-Atlantic region-(New York, New Jersey and Pennsylvania) were satisfied with their jobs last year, according to a September report by the Conference Board. That's below the national average of 48.3%, which was up marginally from 2013. "People are working more hours for less money, and the conditions have gotten worse," said Jeffrey Pfeffer, a Stanford Graduate School of Business professor and author.
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Small business owners are less optimistic about the economy and growth compared to a year ago, according to
Capital One
's Spark Business Barometer. According to the survey, less than a third of business owners reported improved financial positions over the past year, down four points since March. Growth expectations also fell: Just 38% expected improved financial position in the next six months, down from 47% in March.
IBANYS' WEBINARS ARE FOR NEW YORK
COMMUNITY BANKS
For YOUR Officers, Employees & Directors
. . .It's Why So Many Of Your Peers Participate
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. They
provide bottom line value. That's
why participation in IBANYS webinars has expanded dramatically over the past eighteen months! Take a moment to review our upcoming programs
below.
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IBANYS Spotlights. . .
Smith & Wilkinson is an executive search and recruiting firm for the banking and credit union industries. They are experts in delivering high level assets for community and regional banks.
As one of the top boutique executive search firms
 in the country, they have a keen eye for the exceptional, and their network of top companies and top talent is unrivaled. The firm's
dedicated team is nimble, discrete, and most importantly - effective. Their practice specialties include banking; credit unions; nonprofits & associations; payments processing; financial technology; insurance; wealth management; finance & accounting; human resources; information technology. Visit
www.smithandwilkinson.com or contact Carll Wilkinson, Managing Partner, at (207) 510-6666,
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DID YOU KNOW. . .
. . .What the Office of the Comptroller of the Currency (OCC) Senior Deputy Comptroller for Bank Supervision Policy & Chief National Bank Examiner
said recently about the role of bank directors?
- "Directors are integral to the long-term health and viability of community-based financial institutions."
IBANYS agrees. That's why we urge our New York community banks to register their board members (and senior management) for our Regional Directors Conferences October 21 and 22.
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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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