. . . IN THIS WEEK'S ISSUE:
  • Just Over Three Weeks To Go! Register Today For IBANYS' 2017 Annual Convention: The Power Of Community Banking  
  • Donate Items NOW To IBANYS' Silent Auction -- Support Our Political Action Efforts
  • Congress Returns Next Week For Busy September
  • September Is National Prostate Cancer Month -- Good Time To Support Our "Cure The Blue" Initiative
  • New State DFS Cybersecurity Regs Are In Effect
  • How You Can Help Relief Efforts In Aftermath Of Hurricane Harvey
  • And Much, Much More. . .

Your IBANYS Team: 
Working Together To Make 2017 A Great Year 
For New York C ommun ity Banks !


In This Issue

Quick Links


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 2017 PAC contribution form. Help support IBANYS' political action efforts in New York State.

Partner

August 30, 2017
 

That's Right. There Are Just Over Three Weeks Left Until. . .

IBANYS' Annual Convention:
"THE POWER OF 
COMMUNITY BANKING"


Time is running short. In a little more than three weeks, New York community bankers, IBANYS preferred providers & associate members and guests will be at the Independent Bankers Association of New York State's 2017 Annual Convention September 25-27 in Niagara Falls, New York. It promises to be our best ever! Join us  for t hree days of business programs, recreational activities, networking opportunities and camraderie
  • Speakers and roundtables will focus on important issues and topics of the day... with opportunities for question and answer, dialogue and interaction. 
  • Our exhibitors conference will feature products and services to help New York community banks navigate today's business landscape and enhance their operations. 
  • Many of our traditional segments are back by popular demand, including our silent auction to support our political action efforts. NOTE: We need your donated items for the auction. Click here for details, or contact Linda Gregware for details. 
  • You'll enjoy our breakfast programs, receptions and dinner programs, and our six-minute presentations by preferred providers and associate members on important products and services for community banks. 
  • We'll also introduce new traditions: our "Innovation Showcase" highlighting new products and services to help community banks survive and thrive in today's marketplace; our "Emerging Leaders" welcoming the New York community banking industry's next generation of leaders, and a culinary school experience for spouses & guests sponsored by our good friends at The Bonadio Group. 
WHERE? Convention meeting rooms are in the Niagara Falls Convention Center, across the street from our sleeping room accommodations at
Sheraton at the Falls Hotel

HAVE YOU REGISTERED YET? We're confident that you'll find it to be a memorable conference in every way.  We hope to welcome you to Niagara Falls September 25 . Can we count on you to join us?  CLICK HERE   to register/for details on how to participate, to sponsor an event and/or exhibit in our  convention business show!

Don't Delay. . .REGISTER TODAY
     


Your Donated Items Needed 
For Our Silent Auction! 
Here is your an opportunity to help our New York community banking industry stay competitive in the state political process. Proceeds from our silent auction are used to support NYSIBPAC, IBANYS' state political action committee. NYSIBPAC contributes to New York State candidates and office holders who understand and support the vital role we play in our local and state economies, and the fabric of our communities. This is especially critical with a statewide election year ahead of us in 2018.
  • Donate A Gift! Showcase items from your region, or unique items others will enjoy. The gift donation is not tax deductible. Nationally chartered banks must donate through a holding company, an individual officer, or director. State chartered banks may donate directly, or through the holding company. IBANYS recommends a minimum value of $100 for each donation. All items shipped to IBANYS must be received by Friday, September 15. 
  • Please avoid gift certificates for specific values.  Participants tend to bid lower than the value stated on the certificates. Instead, consider donating a gift certificate for a specific item.
  • If you donate oversized, perishable or fragile items, consider providing pictures and/or marketing materials to advertise the item(s) during the auction, then ship the items themselves to the winning bidder once the convention is over.
  • Click here for a list of suggested items to donated -- and, to fill out and return to IBANYS the Auction Donor Information form found on page 11 of the convention registration packet. 
Thanks for your support of IBANYS Silent Auction, and of our political action efforts through NYSIBPAC.



. . .To Our Sponsors
IBANYS sends a special "thank you" to our early convention sponsors for their support of IBANYS, our convention and our industry -- 
during the convention and throughout the year:
  • Accume Partners
  • Atlantic Community Bankers Bank
  • BankSight, Inc.
  • CEIS Review
  • The Bonadio Group
  • Federal Home Loan Bank of New York
  • First Empire Securities
  • ICBA
  • Roosevelt & Cross
  • Sandler O'Neill
  • SHAZAM
  • Smith & Wilkinson
  • Strategic Resource Management (SRM)
  • Vitex, Inc.
  • Wolf & Company, PC
. . .And, To Our Exhibitors
Special thanks to our "early bird" exhibitor registrants for the business trade show. Be sure to visit them in the exhibition hall--see their booth numbers below. Visit our website at www.ibanys.net -- go to the Annual Convention tab under the education tab and click on "2017 Trade Show Floor Plan" to view booth availability.
  • Accume Partners (407)
  • BFS (302)
  • BSG Financial Group (200)
  • The Bonadio Group (516)
  • Bowers & Company CPA (512)
  • Federal Home Loan Bank of New York (400)
  • First Data Corp. (403)
  • First Empire Securities (307)
  • ICBA Securities (402)
  • Jack Henry Banking (304)
  • Kasasa (405)
  • M&T Bank (514)
  • Main Street, Inc. (404)
  • New York Bankers Association (201)
  • Promontory Interfinancial Network (301)
  • Pentegra Retirement Services (401)
  • SHAZAM (306)
  • Strategic Resource Management (101)
  • Vitex (406)
  • Wolf & Company, P.C. (300)
*     *     *     *     *


*     *     *     *     *

September Is Prostate Cancer Month:
Help IBANYS Support "Cure The Blue" 
September is national prostate cancer month, and an appropriate time to remind everyone of IBANYS' ongoing "Cure the Blue" campaign. Cure the Blue is the name of the program intended to help all New Yorkers participate in a comprehensive effort to help promote prostate cancer awareness and research. IBANYS is proud to be partnering with the Buffalo Bills Alumni Foundation, which sponsors the program under the leadership of the Bills' "Wall of Famer" and Foundation President Booker Edgerson -- himself a two-time prostate cancer survivor. IBANYS encourages member banks to participate in the program. One example of this is the great work being done by Lake Shore Savings Bank and President & CEO Dan Reininga. During September, Lake Shore will provide prostate cancer literature and Cure the Blue information at its headquarters in Dunkirk and all eleven of its branches. The bank will be offering "Cure the Blue" ceramic lapel ribbon pins to all customers for a $5.00 donation to Cure the Blue. President Reininga noted: "We fully understand the severity of this disease and the devastating effect it can have on families. Our support of the Buffalo Bills alumni Foundation's 'Cure the Blue' initiative is something that we are taking very seriously. We're proud to support it."
Prostate cancer  represents 9.6% of all newcancer  cases in the U.S. In  2017, it is estimated that there will be 161,360 new cases of prostate cancer and an estimated 26,730 people will die of this disease. The effort and visibility continue to grow in upstate New York, as Walmart stores and the Labatt brewery are on board with a major push in the Watertown and Buffalo areas! IBANYS urges all of our member banks, associate members and allies to help battle this disease by supporting Cure the Blue efforts to promote the awareness and research needed to battle this disease. To donate, please  visit 
www.curetheblue.com.  For more information, please contact either me (Johnw@ibanys.net) or Joe Ciffa (ciffaj@jrcpromotions.net).

*     *     *     *     *
 
How To Help Community Bankers and Their Communities Recover From Hurricane Harvey 
Community banks across Texas have stepped up to provide vital assistance and aid to their neighbors and customers. Many community banks across the country have asked how they can help.
  • ICBA has partnered with MainStreet Bank in Fairfax, Va., to launch the Hurricane Harvey Community Bank Relief Fund donation portal via Aircharity(r) to help interested parties get involved and offer support. Through this portal, we can come together with the common goal of sending financial resources directly to other community banks, their employees and families in affected regions. MainStreet Bank is covering any service charges associated with the donations, allowing 100 percent of donations to go directly to community bankers in need. Banner ads for your website and e-newsletters are available at www.icba.org/SRPArticles<http://www.icba.org/SRPArticles under the Resources folder. The ads have the donation portal link embedded for ease of use. If you have any questions, please e-mail Chris Lorence, Group Executive Vice President, Member Engagement and Strategy: Chris.Lorence@icba.org. 
  • From the Independent Bankers Association of Texas: Donations may also be made to the Texas Bankers Foundation's Hurricane Harvey Relief Fund by clicking this link:  100% of every dollar collected will go directly to the relief effort. Texas Bankers Foundation is a 501(c)(3). Corporate and personal contributions are tax deductible. Make checks payable to the Texas Bankers Foundation, and denote it is for the Hurricane Harvey Relief Fund. 
Bankers may contribute to either of these funds, as monies will end up in the same place. 100% of the proceeds to go to banking families in need. 

Mortgage Interest Rates & 
Applications Down
Mortgage interest rates are at the lowest level since last November, but not quite at 2016's lows. 
According to the Mortgage Bankers Association, housing money total mortgage application volume decreased 2.3% (on a seasonally adjusted basis) last week when compared to the previous week. Applications are down nearly 25% compared to a year ago, due in large part to the lack of homeowners refinancing their loans. Applications to refinance fell 2% for the week, and are down 41% from a year ago. Mortgage applications to purchase a home fell 3% for the week and are just 4% higher than a year ago.

Economic Growth On Upswing
The U.S. Commerce Department said the economy grew faster than initially thought in the second quarter, at its quickest pace in more than two years. Gross domestic product increased at a 3% annual rate in the April-June period, revised upward from the 2.6%  pace reported last month, and reflected robust consumer spending and strong business investment. Housing was a drag on growth in the quarter. Investment on homebuilding contracted at a 6.5% rate, instead of the previously reported 6.8% pace -- the the worst performance in nearly seven years.

Fed Chair: New Rules Made System Safer; 
But Should Simplify Regs On Small Banks
Federal Reserve Chair Janet yellen told the fed's annual conference in jackson Hole, Wyoming that regulations enacted following the 2008 financial crisis have made the financial system "substantially safer, have boosted resilience without unduly limiting credit availability or economic growth" and positioned it to be better able to weather future shocks. Chair Yellen did note that some changes may be warranted, including simplifying regulations applying to small and medium sized banks. 

How Much Do Americans Earn, 
At Every Age Bracket?
The median household income in the United States is $56,516, according to  2015 data from the U.S. Census. But that rises and falls depending on close you are to  peak earning age. Below are  the median earnings for Americans at every age bracket, according to  data from the Bureau of Labor Statistics  for the second quarter of 2017.
  • 16 to 19 years: $422 weekly/$21,944 annually
  • 20 to 24 years: $525 weekly/$27,300 annually
  • 25 to 34 years: $776 weekly/$40,352 annually
  • 35 to 44 years: $976 weekly/$50,752 annually
  • 45 to 54 years: $975 weekly/$50,700 annually
  • 55 to 64 years: $966 weekly/$50,232 annually
  • 65 years and older: $904 weekly/$47,008 annually

GOVERNMENT RELATIONS
   
ALBANY UPDATE:

State DFS Cybersecurity Reg Now In Effect
The State Department of Financial Services (DFS) cybersecurity regulation officially took effect that August 28. DFS Superintendent Maria Vullo noted:  "With cyber-attacks on the rise and comprehensive federal cybersecurity policy lacking for the financial services industry, New York is leading the nation with strong cybersecurity regulation requiring, among other protective measures, set minimum standards of a cybersecurity program based on the risk assessment of the entity, personnel, training and controls in place in order to protect data and information systems." Click Here to read the full text of the DFS news release.

WASHINGTON, D.C. UPDATE

Congress Returns Next Week 
To Busy Agenda
Congress will return from its August recess next week after Labor Day to a full agenda of issues, including:  funding the government by Sept. 30, (the end of the fiscal year); raising the debt limit by Sept. 29 ( when Treasury estimates  the government would be in danger of defaulting on its borrowing obligations), and authorization of the National Flood Insurance Program, scheduled to expire Sept. 30 without congressional action. All this, plus any effort toward tax reform, will likely be limited by a short legislative calendar next month. There are only 12 days in September when both the Senate and House are scheduled to be in session. Meanwhile:
  • Sen. John Kennedy (R-LA), a key Republican vote on a pending congressional resolution to undo the CFPB's limits on arbitration clauses in financial companies' consumer contracts, has not studied the proposal and is uncertain how he'll vote. The House has already passed a measure reversing the rule, and Senate Banking Chairman Crapo (R-ID)  and colleagues have introduced their own version. Senate Republicans can only afford to lose two GOP votes. Sen. Graham (R-SC) doesn't support overturning the regulation; the status of Sen. McCain's (R-AZ) health makes it uncertain he will be able to vote, and Sens. Murkowski (R-AK) and Collins (R-ME) remain undecided.
  • In a letter to Consumer Financial Protection Bureau Director Cordray, House Financial Services Committee Chairman Hensarling (R-TX) wrote that speeding up the finalization of the payday lending rule in coordination with Cordray's possible entry into the Ohio governor's race would open up the regulation to legal challenges. The payday rule, which would among other things require payday lenders to vet in advance if borrowers can pay back their loans, is one of the last major Cordray-era regulatory proposals not yet finalized.

MEMBER BENEFITS

IBANYS identifies offers products and services that provide value to your banks, companies, employees communities. These brief summaries provide links for information. Please contact IBANYS President John Witkowski with questions. 

Health & Wellness:  The health and wellness landscape continues to evolve. "My Wellness Resource" can be a nice addition to your existing benefit package. Contact Alan Justin: (716) 907-5500 or visit: 
 
 
 
Secure, Enhanced Internet Presence
The .bank program by fTLD operates trusted, verified, more secure, easily-identifiable internet locations for financial companies and 
customers. 
www.icba.org/SRPArticles < http://www.icba.org/SRPArticles > page  

Online Lending
Excelsior Growth Fund (EGF) is NYBDC's nonprofit Community Development Financial Institution and IBANYS' exclusive online lending  partner . Visit 

Battle Against Prostate Cancer
Cure the Blue"  raises funds and awareness regarding prostate cancer in New York State. Visit  www.curetheblue.com to get involved!  
 




. . .SHAZAM
The SHAZAM network is a member-owned electronic funds transfer (EFT) network providing choice and flexibility to community financial institutions across the US since 1976. SHAZAM is a single source provider for the following services: debit card, core, fraud, ATM, marketing and more. Visit SHAZAM.net, or contact Senior Vice President James P. Ghiglieri, Jr. at: (309) 678-9021, jghiglieri@shazam.net

 
. . .That as Hurricane Harvey has inflicted such severe damage on Texas, the Weather Channel ranks the so-called  "Galveston Hurricane" of  September 1900 was t he deadliest hurricane in U.S. history? The Category 4 storm included seas 20 feet above normal. An estimated 8,000-to- 12,000 people died. The " South Florida Hurricane" of  September 1928 was a  Category 5 storm near West Palm Beach. The storm surge caused Lake Okeechobee to overflow, putting the surrounding area more than 10 feet under water. At least 2,500 drowned, and more than 1,700 homes were destroyed. Please see the links in today's newsletter to learn how to help support relief efforts in the aftermath of Hurricane Harvey. 

 

 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 former 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."

_________________________________

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