• Are You Following IBANYS On Social Media? Visit us on Facebook, Twitter, Instagram and Linked in!
  • Plan NOW To Be Part Of IBANYS' Busy Spring Schedule Of 

    Meetings, Conferences, Webinars: Take A Look!

  • Latest News From Albany & Washington
  • Industry Trends & Updates. . .News On Community Banking
Your IBANYS Team: 
Working To Make 2018 Another Great Year 
For New York's C ommun ity Banks !



IBANYS Webinars:
CLICK HERE to learn more about how  IBANYS' webinars can help your bank's officers, directors and employees.
Quick Links

Have You Contributed to NYSIBPAC This Year?
If not, now is the time! We need your help! 2018 is a statewide election year, with every member of the NYS Legislature on the ballot, as well as all statewide officials. Let's support those who understand the needs and priorities of community banks. 
Can we count on you?
CLICK HERE 
for our 2018  PAC contribution form. Help support IBANYS' political action efforts in New York State.


VISIT IBANYS' Preferred Providers. . .  CLICK HERE to learn more about IBANYS' preferred providers and what they can do for New York community banks.
January 31, 2018
As we close out January and move toward spring, 
I want to encourage our New York community bankers to take a close look at our upcoming IBANYS meetings and conferences--especially those scheduled during March and April. Your bank should plan to attend our Compliance Conferences, CEO Forums, Directors Conferences and Human Resources meetings to be held throughout March and April. Then, in May, we'll launch our new Bank Executive Symposium (which was previously known as the IBANYS CFO/Senior Management Conference) in Watkins Glen. All these programs will provide real value to our member banks, and offer excellent opportunities for IBANYS preferred providers and associate members New York community bankers should also plan to join us April 8-11 in Washington, D.C. at ICB's Capitral Summit--especially for our April 10 meetings "on the hill" with members of the New York congressional delegation. It's a busy spring schedule, and we look forward to seeing you at these important meetings, and throughout the year. Today's newsletter provides more information on all the aforementioned programs. Take a look, and share with your officers, directors and employees. . .
IBANYS is YOUR association. Make it work for you!  
-- John


Have You Found IBANYS On Social Media
Have you found and followed IBANYS on social media yet? You can f ind us on Facebook, Twitter, Instagram, and LinkedIn.  Contact Natalie Rowan: natalier@ibanys.net, or 518.4364646. 
Connecting with IBANYS couldn't be simpler: 

Facebook: @ibanys1 | Twitter: @ibanys1 | Instagram: @ibanys1 | LinkedIn: IBANYS 

Have You Contributed To NYSIBPAC? 
IBANYS' 2018 PAC Contribution Brochure  is now available. By donating to our state political action committee, you demonstrate support for null New York community banks. Your contributions  help support the election campaigns of individuals who support community based banking, and who share an interest in improving the business climate for independent banks in New York. NYSIBPAC contributions are made only to candidates for New York State offices. This year, every statewide official and all the seats in the NYS Legislature are on the ballot in November. Please click the link above and support NYSIBPAC.
 

. . .For These IBANYS'  2018 Meetings. . . 
IBANYS 2018 Calendar shows dates & locations for our 2018 meetings.   Member banks: Please share with your senior management team, key officers and personnel and directors. Preferred providers, associate members and business show exhibitors: Now is the time to plan to attend, participate, sponsor/exhibit.

 Get Ready For A Busy March & April. . .
  • Regional Compliance Conferences
    will be on March 20 (Rochester/Pittsford)
    and on March 21 (Troy). . .presentations by OCC, NYS DFS, industry experts and a peer bankers panel discussion
  • Our first three CEO Forums will be on 
    March 26 (Albany), March 27 (Syracuse)
    and March 28 (Rochester/Buffalo market). Please CLICK HERE for program flyer, and  CLICK HERE to register. 
  • The 2018 ICBA Capital Summit at the Grand Hyatt Hotel, Washington, DC will be held Sunday, April 8 - Wednesday, April 11. "Hill visits" with the New York congressional delegation will be Tuesday, April 10 & Wednesday, April 11.
  • Our Regional Directors Conferences are  April 10 (Rochester/Pittsford) and April 11 (Troy)
  • Our Human Resources Conferences will take place April
    24 (Rochester/Pittsford) & 
    April 25 (Troy)

GOVERNMENT RELATIONS


State Budget Process Continues
The State Legislature has begun hearings by the Assembly Ways and Means and Senate Finance Committees on specific issues impacted by Governor Cuomo's proposed 2018-19 state budget. These hearings will continue throughout February. The Assembly and Senate have also released their preliminary analyses of the proposed budget.  The Governor has two opportunities to amend his proposed budget:  21 days and 30 days after the January 16 proposal was unveiled. (So, February 6, then February 15.) The Budget is due April 1.

State Senate First To Address 
Federal  Tax Issue
The State Senate passed S.6974A, which would address changes stemming from the "Federal Tax Cut and Jobs Act" that will impact the state's economy -- primarily, by restricting  New York taxpayers' State and Local Tax (SALT) deductions.  S.6974A would decouple New York's personal income taxes from the Federal Tax Code by changing the reference to the code in State law to the previous federal Tax Code that was in place on December 1, 2017 before the new federal tax bill was enacted. Other vehicles to address the tax issue will be forthcoming, both from the Governor and the Legislature. Meanwhile, Governor Cuomo has announced New York will join a lawsuit (with New Jersey and Connecticut) to challenge the Federal Tax Cut and Jobs Act. 

Key Special Election Set For April
Governor Cuomo has reportedly decided on April 24 as the date for a special election to fill two vacant State Senate seats and nine openings in the Assembly.  The special elections could prove pivotal, as control of the State Senate may hang  in the balance.  If Democrats win both seats, and then reconcile the breakaway eight-member Independent Democratic Conference with the "regular" Democrats into one conference, they would have a one-seat majority and control the chamber for the first time since 2010. The two vacant Senate seats include a Westchester district vacated Jan. 1 by Democratic Sen. Latimer, who was elected county executive. (Assemblywoman Shelley Mayer is the Democratic nominee; attorney Sarmad Khojasteh and former Yonkers Inspector General Dan Schorr are seeking the GOP nomination.) The other Senate vacancy is in the heavily Democratic Bronx district previously represented by Sen. Ruben Diaz Sr., who was elected to the City Council.

CLICK HERE to see the 2018 New York State Legislative Session Calendar

DFS Cybersecurity Filings Due 
By February 18
By February 15, all entities regulated by the State Department of Financial Services (DFS) who are covered by the Department's cybersecurity regulation must electronically file a certification of compliance requiring a statement to the Superintendent covering the prior calendar year. Meanwhile DFS  Superintendent Vullo has also announced that DFS will now incorporate cybersecurity in all its examinations.

   
Senate Reg Relief Bill Takes Center Stage 
  • ICBA sent the letter below, signed by all 43 of ICBA's affiliated state association partners including IBANYS, to members of the U.S. Senate. It urges the Senate to take up and pass the "Economic Growth, Regulatory Relief and Consumer Protection Act" (S. 2155) without any amendments that could upset its bipartisan balance. CLICK HERE to read full letter.
  • ICBA is also urging community bankers to send tweets and emails to their U.S. Senators urging support for S. 2155, the regulatory relief bill, which includes numerous provisions from ICBA's Plan for Prosperity. Click below to act today. 
    Click HERE to e-mail 
    CLICK HERE to tweet
  • ICBA and a coalition of other financial trade groups has also urged Senate leaders to take up S. 2155. ICBA's joint letter with the American Bankers Association, Credit Union National Association, and National Association of Federally-Insured Credit Unions cited strong bipartisan support: "At a time of frequent congressional gridlock in Washington, this bipartisan legislation is a shining example of how our elected leaders can advance necessary solutions by working together and across the aisle." The bill's original co-sponsors include 11 Republicans, 11 Democrats and one Independent. The bill includes numerous provisions inspired by ICBA's Plan for Prosperity platform, endorsed by IBANYS, to provide relief from mortgage, capital, and data-reporting rules, among others. 
  • In his State of the Union address last night, President Trump did not address issues of significance to the financial services industryAfter the speech, congressional sources said they still think there's momentum for the Senate to pass the bipartisan financial regulatory relief measure, even though it was not mentioned in the speech. 
  • Treasury Secretary Mnuchin told the Senate Banking Committee the Department has administrative options for addressing the status of Fannie Mae and Freddie Mac if Congress does not  act. However, his "strong preference" would be for Congress to overhaul the two GSEs through bipartisan legislation.
Tax Reform Scorecard
For details on how the new federal tax changes could impact community banks, the 
ICBA tax reform scorecard for community banks summarizes the new tax law's favorable outcomes as well as remaining tax challenges. The law includes ICBA-advocated tax relief and numerous improvements benefiting community banks, such as a small-business carveout from limits on the business interest deduction and enhanced treatment of Subchapter S community banks.

  

Millennials Are Driving A 
Homeownership Increase
A "Wall Street Journal" article notes that the  homeownership rate in the United States rose in 2017 for the first time in 13 years. The homeownership rate rose to 64.2% in the fourth housing money quarter of 2017 from 63.7% a year earlier, according to the U.S. Census Bureau. The homeownership rate fell to a 50-year low of 62.9% in the second quarter of 2016. The homeownership rate remains below the long-term average of around 65%. The article further states that the annual increase marks a turning point, as it came without a significant push from the federal government, which has retreated from policies that encouraged Americans to buy homes during the previous housing boom. "This time, what's driving the market is a shift in favor of owning rather than renting coming from the largest homebuying generation since the baby boomers: millennials. National home prices reached a record in September 2016, a decade after the peak of the housing bubble. Adjusted for inflation, prices 
remain below their 2006 peak.

California's Response To Federal Tax Law:
Harbinger For New York?
As Governor Cuomo and the NYS Legislature seek ways to cope with and offset the ramifications of the new federal tax law on state taxpayers, California's state Senate approved legislation allowing residents to pay taxes through a federally deductible, state-run charity. Similar measures are under consideration in New York and New Jersey. California is the first state to advance such a measure, according to the Washington, D.C.-based Tax Foundation.

McWilliams: FDIC Will End Delay On 
Special  Lending Licenses
In testimony before the U.S. Senate Banking Committee, President Donald Trump's nominee for FDIC Chair Jelena McWilliams said she would address the "hold-up" in issuance of special lending licenses. It could potentially pave the way for companies like Wal-Mart Stores and fintech firms to enter the banking sector.  McWilliams said she believed such licenses, overseen by the FDIC, did not pose a threat to the safety of the banking system and added that she would ensure the FDIC moved "swiftly" to consider ILC license applications.

Home Prices, Consumer Confidence 
On The Rise
The S&P CoreLogic Case-Shiller Home Price Indices are the leading measures of U.S. residential real estate prices. They track changes in the value of residential real estate, both nationally as well as in 20 metropolitan regions.  Home prices increased 6.2% in November from one year earlier, according to Case-Shiller's national home-price index. It rose a seasonally adjusted 0.7% month-to-month. Separately, the Conference Board reported the Consumer Confidence Index improved in January after declining in December. The January improvement was attributed to stronger economic expectations. The Conference Board publishes the Consumer Confidence Index on the last Tuesday of every month. 

 

FDIC: Community Banks Deposits, Branches Were  UP In 2017
According to the latest issue of the FDIC Quarterly, community banks reversed a long-standing trend and reported greater deposit growth in 2017 than larger banks.  Figures from the latest FDIC Summary of Deposits showed community banks saw deposits rise by 6.4%, while non-community bank deposits grew 4.9%.  Community banks also slightly increased their number of branches in 2017, by 0.1%, while branches of non-community banks fell by 3.3%. Rural  areas - where community banks hold more than two-thirds of all deposits - continued to see higher per-capita banking office penetration, with 4.7 offices per 10,000 people, compared with 2.5 in urban areas. The rate of office closures was also faster in metropolitan and micropolitan areas, where branch closures have less of an effect on the availability of financial services in those communities, and was driven by higher expenses, charter consolidation and technological improvements.


IBANYS' webinars provide timely, informative sessions on important topics and issues of interest for community bankers. They are valuable not only for their content, but for their cionvenience: Participants can take part from the comfort and privacy of their offices, without leaving the bank.  Upcoming offerings include presentations on 2018 credit analysis and underwriting, IRAs, consumer debt, compliance, new accounts, call reports, programs for directors, marketing and cyber security.  Take a look at the schedule of all upcoming IBANYS webinars by clicking here


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. 

"Cure The Blue" Helps Banking Industry
Battle Prostate Cancer!
The "Cure the Blue" program sponsored by the Buffalo Bills Alumni Foundation allows New Yorkers to participate in one of the most comprehensive efforts to help promote prostate cancer awareness and research in the United States. September was National Prostate Cancer Awareness Month, and Lake Shore Savings Bank provided prostate cancer literature and Cure the Blue information at all eleven of its branches and their headquarters in Dunkirk. The bank also offered Cure the Blue ceramic lapel ribbon pins for a $5.00 donations to Cure the Blue to all their customers.  "We fully understand the severity of this disease and the devastating effect it can have on families" said Lake Shore Savings Bank President and CEO Dan Reininga. "Our support of the Buffalo Bills Alumni Foundation's "Cure the Blue" initiative is something that we are taking very seriously and are proud to support." Buffalo Bills Wall of Famer and Alumni Foundation President Booker Edgerson, a two time prostate cancer survivor, said the bank has been a tremendous longtime supporter, noting: "They have really stepped up to the plate with their unwavering support of our Cure the Blue initiative." IBANYS urges all of our member banks, associate members and allies to join the effort. Cure the Blue" raises funds and awareness regarding prostate cancer in New York State. Visit curetheblue.com to get involved! Of all new cancer cases in the nation, prostate cancer represents 9.6%. In 2017, estimates are there will be 161,360 new cases, and that more than 26,000 people will die of the disease. Support IBANYS' "Cure the Blue" campaign to help New Yorkers participate to promote prostate cancer awareness and research.

Health & Wellness 

My Wellness Resource & TELADOC
The health and wellness landscape continues to evolve. "My Wellness Resource" can be a nice addition to your existing benefit package.  Teladoc can save your banks time and money, and provide real value to your employees as this  testimonial from a New York community bank CEO proves:
HERE'S WHAT YOUR FELLOW NEW YORK COMMUNITY BANKER SAYS. . .
"I wanted to let you know that some of our employees and I have been using "Teladoc" and it is one of the best things we have done for the bank. We all love it: We are saving time, avoiding waiting in an urgent care center or a doctor's waiting room for non-emergency related illnesses
. . .and it is easy to use and convenient. Once you use it, you are hooked! This was a great find! Would recommend it to all banks."
Mario Martinez 
Chairman & CEO
Catskill Hudson Bank
Click here to learn more, or contact Alan Justin: (716) 907-5500. 

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

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

 

. . .Approval Payment Solutions
Approval Payment Solutions  offers a complete menu of electronic payment solutions to businesses of every type and size through dynamic Agent Bank Partnerships. APS now also offers a wide array of digital marketing products to businesses, including core local (SEO optimization), website design, social media posting and blog writing. For more information, c ontact  Jason   Dates, Director of Agent Bank: 

 
. . .That President  George Washington  delivered the first regular annual message before a joint session of Congress on January 8, 1790, in  New York City , then the provisional U.S. capital? For many years, the speech was referred to as "the President's Annual Message to Congress".[9] The actual term "State of the Union" first emerged in 1934 when Franklin D. Roosevelt used the phrase


 

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  

Natalie Rowan
Marketing and Social Media Assistant