. . . IN THIS WEEK'S ISSUE:
  • Register Today For IBANYS' 2017 Annual Convention: The Power Of Community Banking. . .it begins in just 12 days!  
  • Donate Your Items NOW To IBANYS' Silent Auction -- Support Our Political Action Efforts. . .Deadline is This Friday, September 15
  • Kickoff The Convention Monday Afternoon With Our Brand New "Innovation Showcase" 
  • Register Your Bank's "Emerging Leaders" At Special Reduced Rates
  • Sign Up! IBANYS' Regional Security Conferences Are October 24 -25 in Rochester & Albany
  • Latest Updates From Washington & Albany
  •  Action Alert -- Urge Congress: It's Time To END The Credit Union Tax Exemption!
  • September Is National Prostate Cancer Month -- Good Time To Support Our "Cure The Blue" Initiative

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

September 13, 2017

There Are Only 
12
Days Left Until. . .

IBANYS' 2017 Annual Convention!

Have You Signed Up?


New York community bankers, IBANYS preferred providers & associate members and guests will gather together in Niagara Falls, New York for IBANYS' 2017 Annual Convention September 25-27.  Join us  for t hree days of business programs, recreational activities, networking opportunities and camraderie. . .


PLEASE NOTE:  T he deadline for IBANYS to receive your PAC Silent Auction items is FRIDAY,  September 15.


  • 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

SO? HAVE YOU REGISTERED YET? You'll find it 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. . . SIGN UP TODAY!


We Need Your Items For Silent PAC Auction:
Deadline Is This Friday, September 15! 

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.

A Letter From IBANYS President 
John Witkowski


First Ever "Innovation Showcase"
Will Launch IBANYS Convention 

We are excited that our Innovation Showcase will kickoff IBANYS' 2017 Convention ("The Power of Community Banking") Monday afternoon, September 25  at 3:30 p.m.   The Innovation Showcase will feature four 30-minute presentations from dynamic companies in the Fintech space who have developed their products for the community bank space. I would like to share some of these companies and their programs with our bankers. We'll profile two this week, and two more next week.

  • CapitalBase, a financial services software company, provides a holistic sales and service platform for banks that supports all of your unique lines ofbusiness. CapitalBase is the technology behind the personal touch of community banks, and can help streamline your entire organization and drive revenue growth. Even if you have existing systems in place, modules of CapitalBase can be customized and integrated smoothly into your existing environment. "Technology and the Personal Touch" by Michael Smith, President & Chief Technical Officer, will review financial services efficiency tools that empower banks to exceed customer expectations and build relationships to grow and expand business. Easy to use, customizable and affordable, CapitalBase's web-based software will have a measurable impact in sales growth, operating efficiency, cost reduction, staff productivity, process improvement, referral & retention rates and employee satisfaction.

 

  • First Global Data is an international financial technology solution ('FINTECH') company, headquartered in Toronto Canada, with subsidiary offices in the United States, South America and South Asia. Its two main lines of business are mobile payments and cross border payments. First Global's proprietary leading-edge technology enables the convergence of compliant domestic and cross border payments, shopping, Peer to Peer ('P2P'), Business to Consumer ('B2C'), and Business to Business ('B2B') payments. First Global enables its strategic partners and clients around the world with a leading edge financial services technology platform. First Global Data has a reputable list of partnerships including major Banks and Financial Institutions, Government Departments, Telecommunication Companies, Travel Agencies and other Organizations which has created a unique brand value within the respective industry. 
I hope you'll join us for this special convention kickoff, and take the opportunity to ask any and all questions you may have for our presenters.  l look  forward to seeing everyone in Niagara Falls.



. . .To Our Sponsors
IBANYS sends a special "thank you" to our convention sponsors for their support of IBANYS, our convention and our industry:
  • 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)
  • T.Gschwender & Associates
  • The Conference & Event Center Niagara Falls
  • Vitex, Inc.
  • Wolf & Company, PC

. . .And, To Our Exhibitors
Special thanks to our 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)
  • COCC (510)
  • Cummins Allison (305)
  • Federal Home Loan Bank of New York (400)
  • First Data Corp. (403)
  • First Empire Securities (307)
  • Freed Maxick, CPAs (508)
  • Genesis PPG (207)
  • 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)
  • Red Hawk Fire & Security (303)
  • SHAZAM (306)
  • Strategic Resource Management (101)
  • Travelers (205)
  • Vitex (406)
  • Wolf & Company, P.C. (300)
PLEASE NOTE: 
There are still prime booths spaces available for firms to showcase their company in the exhibit hall. With over 50 bankers from more than 30 different community banks from throughout the state, IBANYS' Convention is an outstanding opportunity to network and share your company and the services offered with the leaders of the New York community banking industry. C ontact Linda Gregware (lindag@ibanys.net). . .
or, click here.

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September 19:
ICBA Securities/ Vining Sparks Webinar:
"Municipal Market Update: Strategies & Credit"
 

The municipal bond sector continues to be a significant contributor to the performance of community bank investment portfolios.  Significant weightings in tax-free bonds can produce high tax-equivalent yields at a reasonable corresponding price risk.  The credit performance of the bank-qualified sector remains sound; however, investors must understand issuer credit dynamics and overall credit themes.  The market for tax-free securities has been dynamic over the last 12 months.  The post-election "Trump Bump" and the continuing dialog about tax reform caused prices of municipal bonds to first sell off, and then rally.  We will comment on the current impact this policy matter is having on the market.  Also, while the bank-qualified sector has seen very few downgrades, there are several local and state issuers experiencing challenges that are reflective of themes occurring in the broader tax-free market.
  
What You'll Learn:
  • The correlation between municipal bond investments and bank performance
  • Current credit issues in the municipal market
  • The state of the market for tax-free investments
  • Overview of tax reform efforts and its potential impact on bank municipal bond holdings
The webinar will last approximately 1 hour.
 
===============

 
Excelsior Growth Fund Live Webinar 
September 28:
"Top Strategies for Securing a 
Small Business Loan"

Overwhelmed by the idea of obtaining financing to start up your business? Do you need funding to grow your business but do not qualify for a bank loan? Finding the right lender for your business needs can be daunting. Set yourself on the right course, by attending this webinar hosted by The Excelsior Growth Fund and supported by New York Small Business Development Center. Join us September 28 at 1:00 PM EST to help kick off a new live webinar series offered by Excelsior Growth Fund (EGF). In this first webinar, "Top Strategies for Securing a Small Business Loan." you'll learn what you need to know about finding and qualifying for small business loans -- even if you've been turned down before.
You'll learn:
  • Action steps to get your business 'loan-ready'
  • Where to turn when you do not qualify for bank loans 
  • How to avoid predatory lenders
  • What lenders look for in a loan application
IBANYS Regional Security Conferences: 
October 24-25 In Rochester & Albany

IBANYS' annual Regional Security Conferences Tuesday,  October 24 (Marriott Rochester Airport) and Wednesday, October 25 (Albany Marriott). These programs are especially designed for security officers, operations and senior management personnel of New York community banks. As is the case with all of IBANYS meetings and conferences, they provide outstanding networking opportunities and educational programming.  The Security Conferences will focus discussions and presentations on key issues and challenges impacting New York community banks. Watch for details coming soon.

 


There are seven seats on the Federal Reserve's Board of Governors, and by next year President Trump  will have the opportunity to fill an unusually large number of them. He has already nominated two: Randal Quarles as vice chair of supervision, 
Yellen
to oversee  the U.S. banking system, and Joseph Otting as Comptroller of the Currency. Vice Chair Stanley Fischer will resign over the next month. Chair Yellen's term expires early next year. Treasury Secretary Steven Mnuchin  said Federal Reserve Chair  Janet Yellen  is still under consideration to retain her position as  Federal Reserve
Fischer
 chair, but "there's a lot of great people" being considered for the post. They include former Kevin Warsh, Jonathan Taylor, Marvin Goodfriend and Glenn Hubbard.   Mnuchin  has been working with the President  on filling the Fed chairman position. Meanwhile, the Fed reported that consumer credit increased at a seasonally adjusted annual rate of 5.9% in July. Revolving credit (includes credirt card spending) increased 3.2%; non-revolving credit (includes auto and student loans) increased 6.9%.   

September Is National Prostate Cancer Month:
Support Cure the Blue!

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 in this effort to promote prostate cancer awareness and research. IBANYS partners with the Buffalo Bills Alumni Foundation, which sponsors the program, and urges our member banks to participate. Lake Shore Savings Bank President & CEO Dan Reininga announced that this month, Lake Shore is providing prostate cancer literature and Cure the Blue information at its headquarters in Dunkirk and all eleven of its branches. The bank is also offering "Cure the Blue" ceramic lapel ribbon pins to all customers for a $5.00 donation to Cure the Blue. "We fully understand the severity of this disease and the devastating effect it can have on families. Our support of 'Cure the Blue' initiative is something that we are taking very seriously. We're proud to support it."  "Cure the Blue" continue to grow throughout upstate New York. 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 join the effort. . .
To donate or for more information please visit

GOVERNMENT RELATIONS
   
ALBANY UPDATE:

Yesterday was Primary Day across New York State. The results mean that t here will be a vacant state Senate seat in the Bronx, as conservative Democratic  Sen. Ruben Diaz Sr. won  a three-way NYC Council primary. Another possible vacancy in the state Senate could be created in November if Sen. George Latimer, who won a Democratic primary last night, defeats incumbent GOP Westchester County Executive Rob Astorino in Novembver. Another potential State Senate vacancy was avoided when Sen. Phil Boyle (R-L.I.) lost his primary for Suffolk County Sheriff. Meanwhile, incumbent mayors Bill de Blasio (NYC), Kathy Sheehan (Albany), Lovely Warren (Rocjester) and Byron Browne (Buffalo) all won their Democratic primaries, and in Syracuse, insurgent Democrat Juanita Perez Williams won over the party's endorsed choice in the race to succeed outgoing Mayor Stephanie Minor.

WASHINGTON, D.C. UPDATE

Contact Congress: Time To End The Credit Union Tax Subsidy!

Credit unions are back in Washington this week meeting with policymakers. IBANYS joins with ICBA in urging New York community bankers to contact their members of Congress regarding how the credit unions' national regulator, the National Credit Union Administration (NCUA), is expanding credut union commercial lending powers, providing them a nearly unlimited field of membership and easing restrictions on outside investor capital. It's time to end the credit union tax subsidy. Click here to send your message to your Representatives.

Urge Senate To Nullify CFPB Arbitration Rule
ICBA has joined with other trade groups, to urge the U.S. Senate to approve a House-approved resolution that would nullify the CFPB's recent arbitration rule, which would in effect prohibit the use of consumer arbitration agreements. Losing arbitration as an option could lead to continued industry consolidation and reduce consumer choice. IBANYS urges New York community bankers to use ICBA's "Be Heard" website at www.icba.org to send customized letters urging support of the resolution.   ICBA is also calling on the Senate Banking Committee to hold a hearing to examine the revelations of consumer abuse at Wells Fargo , which could undermine the trust Americans have in their financial institutions and stall momentum for community bank regulatory relief. Meanwhile,   the chief executive of Wells Fargo & Co. told an investor conference in New York that he couldn't promise that discoveries of wrongdoing at the bank are "exactly over with."

Federal Tax Reform Update

Speaking about possible tax reform, Treasury Secretary  Steven Mnuchin yesterday said he hopes reductions in federal tax rates can cancel out the loss of state deductions under the Trump administration tax plan.  "I'm hopeful that they'll (taxpayers who benefit from state deductions) get a slight decrease in federal government [taxes] which will offset what they will lose on the state deductions." Eliminating those provisions would affect New York. New York Governor Andrew Cuomo has previously stated that It would be "devastating" on the state of New York... if you didn't allow the people of this state to deduct their state and local taxes." Mnuchin also said the administration is considering backdating tax reform to the start of this year to "boost the economy." Mnuchin again said he believes tax reform can be enacted by year-end, but cast doubt on the likelihood of enacting a 15% corporate tax rate as proposed by the President.

With tax reform in the news, ICBA is spotlighting its "Principles for Tax Reform" white paper designed to strengthen the community bank/small business relationship. 
  • It recommends:allowing businesses to fully deduct interest expense
  • providing tax parity for financial services providers
  • modernizing Subchapter S of the tax code
  • lowering the marginal tax rates on C-corps, S-corps and individuals
  • repealing the estate tax, and
  • preventing new taxes targeting commercial banks or their customers
In Other Federal News:
  • The Senate confirmed Kevin Hassett to be the chairman of President Donald Trump's Council of Economic Advisers in an 81-16 vote. Under the Trump administration, the CEA chairman is not considered a Cabinet-level position as it was under previous administrations.
  • Congress has extended until December 8 the National Flood Insurance Program, which had been set to expire at the end of this month. IBANYS and ICBA have called upon Congress to ensure that flood insurance is affordable and readily available to all homeowners and business owners. 


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!  




. . .
Accume Partners
Accume has a long history of providing internal audit, regulatory compliance and risk management services to banks and financial institutions. As the level of regulatory and business complexity has surged, so has the need for specialized knowledge and focus. Accume is organized to achieve that goal, providing clients with deep knowledge, expertise and approaches in these areas:
  • Internal Audit
  • Regulatory Compliance
  • Enterprise Risk Management
  • Technology Risk Management & Cybersecurity Solutions
  • Operations and Process Improvement
Through these key areas of focus, Accume is able to stay in front of change, bring balanced perspectives and the specialized knowledge demanded by today's banks and financial institutions.

For information, contact Pamela Lipschutz: 

 
. . .That in the 2016 general election,  393 of 435 House representatives, 29 of 34 senators, and five of 12 governors sought reelection. 380 of the 393 House members (97%), 27 of 29 Senators (93%), and four of five governors (80%) were re-elected. 

 

 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