PLEASE NOTE: Next week's newsletter will be published on Tuesday, November 25 because of the Thanksgiving Holiday.

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To all community banks in NYS: There are issues at both the state and federal level that are important to all of us. The recent hearing on FDIC insurance, the continuous onslaught of credit unions talking to and acquiring community banks, the 1071 bill and many others.

Please take a few minutes to read through the Government Relations sections in the newsletter -- and, read below to learn more about our IBANYS Meetings and conferences.

IBANYS continues to keep you informed on the most recent important topics.

Here is more info on upcoming meetings and business partners.

As we move into the final weeks of 2025, it's time to focus on our upcoming meetings & conferences -- including one in December.

• IBANYS’ first virtual conference of Fiscal Year 2025-26 will be our Human Resources Conference on Tuesday, December 9 (8:30 a.m. to 12:30 p.m.) The half-day session was developed to help community banks enhance their people strategy, strengthen compliance, and lead with confidence. It's designed for community bank HR Managers, Training Officers, Branch Managers, Hiring Managers, Supervisors and IT professionals, and will bring together experts in HR leadership, cybersecurity, retirement planning, and organizational culture. You’ll gain actionable insights and practical tools to support your bank’s most valuable asset—your people.

. . . Agenda Highlights: 1) Ensuring Operational Compliance While Improving Participant Outcomes: Explore how to design compliant, high-performing retirement plans. 2) From Compliance Cop to Culture Catalyst: Transform HR’s role from policy enforcer to strategic culture leader. 3) Mitigating Hacker Vulnerabilities & Hiring Risks: How to protect against cybersecurity and hiring threats. 4) Leadership is Hard: Balancing Engagement, Culture & Well-Being: Discover how to cultivate an engaged, resilient workplace culture. . .Registration Deadline: Thursday, December 4, 2025. Download the brochure and register today! Questions? Contact Linda Gregware: lindag@ibanys.net or (518) 436-4646.

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MARK YOUR CALENDARS FOR THESE 2026 IBANYS CONFERENCES:

• Our 50th Annual Convention & Trade Show at Resorts World Catskills in Monticello, New York June 8-10, 2026 -- a New Date & Location, but still our same Premier Event. Save the dates -- and, please share the news with your officers and management teams!

• Our 2026 Executive Leadership Symposium October 5-7, 2026 at 1000 Harbor Hotel in Clayton, New York. Designed for CEOs AND senior executives of New York community banks.

. . . Stay tuned! As future meeting agendas are finalized, details and registration information will be shared via email, the IBANYS website (ibanys.net/meetings-schedule), and upcoming IBANYS Updates and newsletters.

. . . . .

• The Q3 2025 QwickAnalytics New York State Performance Trends Report is now available. Download the New York Q3 2025 QwickAnalytics® Quarterly Performance Trends Report.  .  . See how your bank’s performance compares across New York State and the nation. https://www.qwickrate.com/qrweb/documents/qcbi/NewYorkStatePerformanceReport.pdf

• The FDIC’s national rates and rate caps for savings accounts, interest checking accounts, money market accounts, and CDs have been updated and are available on the FDIC website. 

• In a blog post earlier this year, ICBA President & CEO Rebeca Romero Rainey discussed numerous community bank regulatory relief successes achieved through the first half of 2025.

• The latest Independent Banker magazine shares six tips for family-owned community banks to consider when creating succession plans. The article notes that while creating succession plans can be complicated, starting early, avoiding assumptions, and communicating often can avoid headaches.



. . . . .

Does your bank participate to the fullest extent in IBANYS? Know how to get the most value from your membership? Get your senior management teams, employees & directors involved!

1) Check out our committees, webinars, seminars, meetings and conferences. . . 2) Share our weekly updates and newsletters. . . 3) Keep them up-to-date on upcoming opportunities & activities impacting your bank and our industry. . .WANT TO GET MORE INVOLVED? NEED US TO ADD NAMES TO OUR DISTRIBUTION LISTS? Contact IBANYS' Director of Administration & Operations Linda Gregware (Lindag@ibanys.net) or me (Johnw@ibanys.net). . . Visit https://ibanys.net/ and re-read about IBANYS' mission and what we do for New York community banks. We’re still the voice at the table representing just New York community banks, just as we were founded more than a half-century ago.

2026 IBANYS MEETINGS

Stay tuned! As meeting agendas are finalized, details and registration information will be shared via email, the IBANYS website (ibanys.net/meetings-schedule), and in upcoming e-newsletters.

IBANYS DECEMBER WEBINARS

ASSOCIATE & PREFERRED PARTNERS

You're invited

2026 U.S. Economic and Interest Rate Outlook

December 2, 2025 | Webinar

The Promised Recession... So Where Is It?

Piper Sandler invites you to a live webinar with Dimitri Delis, director of fixed income research.

Inflation is cooling but still sticky, the job market is losing steam, and yet growth keeps surprising. Liquidity seems stable, but the market’s plumbing tells a different story. Join our 2026 U.S. Economic and Interest Rate Outlook Webinar to uncover why the long-awaited recession hasn’t arrived—and what’s really holding the economy up. We’ll explore:



• How the wealth effect is fueling spending and when does it run out of steam.
• Why the White House’s policy agenda could redefine America’s fiscal path.
• Whether liquidity strains are emerging and what they mean for markets.
• How the Fed and Treasury are reshaping near-term and long-term yields.

Don’t miss this in-depth look at the hidden forces shaping the next market cycle. 

Date & Time

Tuesday, December 2, 2025

1:00-2:00 p.m. ET

Add to calendar

Registration

To confirm your attendance, please register below.

Register Now

Questions? Please contact Dimitri Delis.

Hosted By

Dimitri Delis, Ph.D.

Managing Director,

Director of Fixed Income Research

312 267-5158

dimitri.delis@psc.com

THE WEEK OF NOVEMBER 17, 2025

The Municipal Market Monitor is a weekly overview covering key themes of the general municipal market. The update includes the AAA yield curve, municipal to treasuries ratio, fund flows, expected issuance volume and Piper Sandler’s weekly calendar, along with brief commentary, designed to provide issuers and investors insight into current market conditions.

Senior Lending Summit

December 2, 2025 (10:00 am – 3:00 pm CST)

Who it's for?

Senior Lenders, Chief Credit Officers, Chief Lending Officers, Senior Credit Officers and other senior bankers/managers responsible for lending-related functions.

Cost: $295 per bank with assets $2B and less

$395 per bank with assets in excess of $2B

What will it be like?

This will be an all-virtual event. Great lectures, roundtable discussions, numerous case studies, and opportunities to network.

5 hours of instruction are scheduled.

Topics Include:

• Review of Current Industries, Trends, and CRE Sectors
• Loan Pricing and Structuring Issues
• Dealing With Non-Bank Competitors
• Regulatory Exams, ALLL and Other Portfolio Management Issues
• It’s Time to Highlight and Recognize the Environmental, Social and Governance (ESG) Efforts of Your Borrowers
• The People Element: What Works for Hiring, Retaining and Training Lending Staff?

May 17-22, 2026

Barret Graduate School

Our three year graduate program. Annual one-week residency session.

Barret Graduate School Curriculum in Brief

One week per year for three years • 130+ hours of core classroom study • Nine on-campus case studies• Eight home study problems.

Over the three year graduate program, participants will have access to 200+ hours of training.

ICBA Information

ALBANY UPDATE

TAX & BUDGET TALKS

• “Gov. Hochul likes a fight...She’s in for several of them next year.” Hochul sat down with "City & State" to discuss her plans for navigating the upcoming political minefield of her reelection bid and why Democrats should stop criticizing each other. Hochul’s bona fides will be tested like never before as she navigates new political currents …dealing with unprecedented federal cuts from a president who has promised retribution. Hochul has "navigated the turbulence" better than other Democratic governors who have seen the National Guard deployed within their borders. The coming year’s fiscal needs would already be cause enough for concern, but the addition of Mamdani to the mix adds new weight to the careful balancing act Hochul has attempted to maintain. Read more here.  Meanwhile, Hochul is "starting to eye potential running mates" ahead of her reelection bid next year. (Gothamist)

• A scheduled state budget hearing in Albany includes state agencies presenting their formal requests. Tax talk is being closely watched as Gov. Hochul, seeking reelection, begins to put together her 2026 budget plan. She remains strongly opposed to any personal income tax hikes, and State Budget Director Blake Washington “threw cold water on tax hikes” after the state’s cash flow came in higher than expected. “Taxes are a last resort at this moment in time when we’re in a good spot financially and on good fiscal footing.”  He reiterated revenues are in better shape than expected due to more robust tax receipts from Wall Street, and said budget gaps are trending downward and “manageable.”  Read More.  Both state legislative leaders (Assembly Speaker Heastie, D-Bronx & Senate Majority Leader Stewart-Cousins, D-Yonkers) support NYC Mayor-Elect Mamdani’s call for tax increases.  Hochul may be inching towards supporting some kind of (non-income) tax hike. POLITICO first reported corporate tax rates may be on the table, likely on large corporations. Legislative Democrats “are intrigued by the possibility of changes to the corporate tax rate” but GOP legislators “criticized the door being cracked open to any tax increases.” https://www.politico.com/newsletters/new-york-playbook-pm/2025/11/14/stefaniks-upstate-edge-holds-as-blakeman-starts-tour-00652156.

• Tax Talk, Part II. Incoming Partnership for New York City leader Steve Fulop is no fan of raising the state’s corporate tax rate, or of Mamdani’s claim New York’s rate should match New Jersey’s. Mamdani urged the state to raise its current top corporate tax rate from 7.25% to 11.25%. In a post on X this weekend, Fulop said raising the state’s corporate tax rate would be “absolute suicide” for New York City, and noted an existing city business tax, combined with a higher state rate, would drive taxes far higher than those imposed on New Jersey businesses. “Even if [they] believe companies won’t move, what remains 100% indisputable is they certainly won’t create a single new job in NYC.” Backers of taxing the rich rallied in Manhattan, per Newsday, calling on state leaders like Hochul to support Mamdani’s fiscal agenda.

LEGISLATIVE

• NYS Sen. Liu and Assembly Member Forrest introduced new legislation that would raise taxes on millionaires in NYC.

• With the news that pennies will no longer be minted, State Sen. Skoufis (D-Hudson Valley) has a bill to create a rounding system for merchants to use — similar to the one Canada has in place after its penny was taken out of circulation. It’s meant to “fill a void created by the federal government,” which has not instructed merchants on how to price goods with the demise of the penny. Skoufis said his bill “would modernize and bring uniformity to how cash transactions are processed in New York State and help ensure a smooth transition from the penny.” https://www.politico.com/newsletters/new-york-playbook/2025/11/14/hochuls-taxing-times-00651582?nname=new-york-playbook&nid=0000014f-1646-d88f-a1cf-5f46b74f0000&nrid=00000152-f737-dcf0-a7d7-f73fb7700001.

• Gov. Hochul & NYC Mayor-Elect Mamdani met to discuss the upcoming 2026 state legislative session. link. Mamdani "appears to be assembling a team that blends progressive ideals with deep institutional expertise," Crain’s New York Business Editorial Board writes. 

ECONOMIC & POLITICAL NEWS

• Foreclosures are in decline in most New York metropolitan areas -- latest stats...link

• State tax receipts for State Fiscal Year (SFY) 2025-26 totaled $63.6 billion through October, $5 billion (or 8.5%) higher than the same period last year, according to the monthly State Cash Report released by Comptroller DiNapoli. In comparison to the Division of the Budget’s Mid-Year Update to the SFY 2025-26 Enacted Budget Financial Plan estimates, year-to-date collections were $296.7 million higher. https://www.osc.ny.gov/reports/finance

• According to a new 2025 survey from “Retirement Living,” New York is one of the worst states in which to retire, ranking second from the bottom just ahead of Hawaii. The report evaluated affordability, healthcare, quality of life, weather, and crime. New York scored poorly in healthcare and quality of life – “largely due to its high cost of living and taxes.” 1) Retirees in New York need over $1,037,000 in savings to live comfortably; 2) The state's income tax rate of 10.9% and property tax rate of 1.6% make it one of the most expensive places to retire. https://bronx.news12.com/new-york-ranked-second-worst-state-to-retire-in-2025.

• Business activity increased at a solid pace in New York State in November, according to the Federal Reserve Bank of New York’s Empire State Manufacturing Survey. New orders and shipments increased significantly, delivery times lengthened modestly, availability worsened somewhat, inventories expanded, labor market indicators improved, and capital spending plans grew. In the Tri-State area, business activity continued to decline in the New York, northern New Jersey, and southwestern Connecticut service sector, according to the New York Fed’s Business Leaders Survey: Employment declined, wage growth remained modest, supply availability worsened somewhat, and both input and selling price increases slowed.

• A new study listed the New York State suburbs with the highest cost of living for essentials. GOBankingRates determined the priciest places by analyzing the monthly cost of essentials -- mortgage payments, groceries, utilities, healthcare, and transportation -- and 15 of the top 20 are on Long Island. Data was compiled from sources including the US Census American Community Survey, the Bureau of Labor Statistics, and the 2023 Consumer Expenditure Survey to reach their findings. The full GOBankingRates study is here.

• Business representatives and business owners joined Senate Minority Leader Schumer (D-NY) in the North Country to talk tariffs, and believe they, and American customers, are the ones paying the price. Read More

• Buffalo Mayor-Elect Ryan met with senior budget officials from the NYS Senate, Assembly, and Governor’s Office to discuss the city’s fiscal status, and discuss plans for addressing a deep budget deficit. Buffalo’s current 2025-26 city budget reportedly is operating with a $19 million deficit, and projections indicate it could increase up to $50 million in fiscal 2026-27. https://www.wxxinews.org/2025-11-18/ryan-tells-albany-budget-leaders-his-administration-will-have-plan-for-citys-fiscal-woes

• The new Siena College poll, the  first since Rep. Stefanik (R-North Country) launched her 2026 gubernatorial campaign, found Hochul leads Stefanik 52% to 32%, and leads her Democratic primary opponent, Lt. Gov. Delgado, 56% to 16%.(link). . . 60% favored raising taxes on high-income earners and favored hiking corporate taxes. 39% of voters think New York is on the right track, 45% say wrong direction. 30% say the nation is on the right track, 62% say wrong direction. https://sri.siena.edu/2025/11/18/hochul-approval-favorability-ratings-down-a-little-maintains-huge-lead-over-delgado-among-dems-leads-stefanik-by-20-points-down-from-25-in-september/. Hochul's job approval 52-43%. link. Schumer's worst favorability.link...Strong majorities oppose Trump. link

• Ten candidates are running for the Manhattan congressional seat of retiring Rep. Nadler, who has represented the district for 34 years. Here’s a look at the list. https://www.nytimes.com/2025/11/19/nyregion/nadler-candidates-who-running.html?unlocked_article_code=1.2U8.ZMN4.TiUxC29Amonm&smid=url-share

• Rep. Ritchie Torres (D-Bronx) – who serves on the House Financial Services Committee, has gone “from progressive darling to progressive target.” https://hellgatenyc.com/ritchie-torres-michael-blake-congress-primary/

FEDERAL UPDATE

LEGISLATIVE & REGULATORY

• President Trump has formally nominated Stuart Levenbach as the permanent CFPB director, according to congressional records. Levenbach is a top aide to White House Office of Management and Budget Director Russell Vought, who has been Acting CFPB Director, and has been overseeing natural resources and energy issues at OMB. The selection could be seen as a move “designed to empower Vought to continue leading” the CFPB as he moves to shut it down in the coming months. https://www.politico.com/news/2025/11/19/trump-cfpb-nomination-levenbach-vought-00659032?utm_medium=twitter&utm_source=dlvr.it.

• The House Financial Services Committee discussed a wide array of issues during a hearing on deposit insurance reform, including supporting community banks and improving the bank resolution framework. Chair Hill (R-AR) said “guiding principles should be to ensure the stability of the banking system, maintain depositor confidence, fairly apportion costs, enforce market discipline, and reduce moral hazard.” The committee began discussion on several ICBA-supported bills: 1) The Community Bank Deposit Access Act of 2025 (H.R. 5317), which would allow custodial deposits to be held by community banks without being considered brokered deposits, provided the custodial deposits do not exceed 20% of banks’ total liabilities; 2) The Keeping Deposits Local Act (H.R. 3234), which would raise the percentage threshold of reciprocal deposits that may be held by a bank without being considered brokered deposits, which are subject to certain capital and interest-rate restrictions; 3) The Main Street Depositor Protection Act (S. 2999), bipartisan legislation to provide increased insurance coverage for small-business customers while minimizing additional costs for community banks. In a statement for the record ahead of the hearing, ICBA and 25 state affiliates said permanent solutions to deposit insurance reform will proactively bolster the safety of the financial system. 

• Deposit Insurance Reform, Part II. In its new principles for deposit insurance reform, ICBA encourages lawmakers to: 1) Promote depositor confidence in community banks; 2) Curb too big to fail; 3) Control the cost of deposit insurance for community banks; 4) Provide increased coverage for uninsured deposits; 5) Expand the FDIC’s ability to protect community banks and their customers during crisis; 6) Protect the bank-funded DIF for bank resolutions. In a recent blog post, ICBA said large bank failures of 2023 demonstrated the need to reform the deposit insurance system. 

• ICBA will host a complimentary webinar covering the CFPB’s updated 1071 proposed rule. ICBA experts will break down the proposed rule, highlight key policy shifts, and provide a grassroots guide to help community bankers submit impactful comments.Attendees are encouraged to bring questions for the live Q&A session. The CFPB last week issued an updated 1071 proposed rule that would exempt more community banks and small-business loans, as advocated by ICBA. The proposal would: 1) Exempt financial institutions that originate fewer than 1,000 covered small-business loans per year—up from the bureau’s previous 100-loan threshold; 2) Exempt more small-business loans by defining small businesses as having gross annual revenues of $1 million or less, down from the previous $5 million threshold, and 3) Dramatically reduce the data points that covered banks would be required to collect. Read ICBA’s national news release and message to community bankers, The CFPB’s 2023 rule and implementation deadlines remain on hold for ICBA community banks amid ongoing litigation and new rulemaking. 

• With large credit unions announcing two acquisitions of Main Street community banks in as many days, ICBA said it is time for Congress to eliminate the federal tax exemption for credit unions over $1 billion in assets to prevent further harm to local communities. In a national news release, ICBA cited an ICBA data analysis that found these acquisitions harm small-business and mortgage lending in affected communities. ICBA’s “Repair, Reform, and Thrive” plan and open letter to the 119th Congress urge lawmakers to address credit union tax and regulatory advantages. Further, an ICBA policy resolution calls on policymakers to end the federal tax exemption for credit unions with $1 billion or more in assets or to establish tax parity between credit unions and community banks.

• The USDA announced the second phase of supplemental disaster relief payments that would be distributed under the Supplemental Disaster Relief Program. The first phase was announced in July. The USDA said producers may apply for disaster relief until April 30, 2026, under either phase. The department is expected to provide $16 billion or more under the program. Separately, the administration could announce in the coming days a farm aid package of $10 billion or more providing financial aid to producers, as ICBA has suggested. Congress may also consider other bills in coming months, such as one to advance a portion of next fall’s expected reference prices as provided for in the Bridge the Gap for Rural Communities Act (H.R. 5710), which ICBA supports.

• The Conference of State Bank Supervisors published data showing banking regulation is more burdensome on community banks. Based on 10 years of data from its Annual Survey of Community Banks, CSBS said: 1) Smaller banks reported spending 11%-15.5% of their payroll on compliance tasks, compared with 6% to 10% at the largest institutions; 2) Data-processing costs consume 16.5%-22% of small banks’ budgets versus 10%-14% for larger banks; 3) Consulting costs diverged the most, at roughly 50%-64% for the smallest banks compared to 19%-30% for the biggest. Securing regulatory relief for community banks is a key priority of ICBA’s “Repair, Reform, and Thrive” plan and open letter to the 119th Congress.

• The Fed released information regarding new operating principles for bank supervision, and said the principles, provided to all supervisory leadership: 1) Prioritize Fed staff attention on a banking organization’s material financial risks rather than process or documentation issues that are not material to safety and soundness; 2) Reduce duplication resulting from exams and supervision by both Fed staff and by other state or federal banking supervisors, and 3) Require Fed staff to prioritize deficiencies that could have a material impact on a firm's financial condition when issuing matters requiring board attention, and prohibit Fed staff from communicating MRAs in vague or overly broad language. The Fed said it will continue to refine these principles and expects to formalize them in public supervisory guidance or regulatory changes. ICBA last month called on federal banking regulators to reduce regulatory burdens on community banks. ICBA has urged Fed Vice Chair for Supervision Bowman to appropriately tailor regulation, and provided the administration with deregulatory recommendations prioritizing practical reforms, to reduce unnecessary burdens, and support innovation.

• The OCC confirmed permissible bank activities related to paying cryptoasset network fees and said that a national bank may hold amounts of cryptoassets as principal necessary for testing otherwise permissible cryptoasset-related platforms. In a letter to the Basel Committee last year, ICBA agreed with the assessment that tokens on permissionless networks should not receive Group 1 treatment due to a number of unique risks, some of which cannot be sufficiently mitigated.

• ICBA continues to ask community bankers to urge their senators to ensure proposed crypto market structure legislation bars all digital assets market participants from offering yield, interest, or rewards on payment stablecoins. The GENIUS Act stablecoin law prohibited payment stablecoin issuers from paying yield or interest directly to stablecoin holders, though this prohibition can be evaded by marketing the interest as “rewards” to stablecoin holders and having payments come from affiliates, exchanges, and other third parties instead of directly by the stablecoin issuer. Use a customizable message on ICBA’s Be Heard grassroots action center to tell senators to minimize risks to the banking system and local economies by extending the prohibition to crypto exchanges and other third parties.

• Federal banking regulators released data on small business, small farm, and community development lending during 2024, as required by the CRA. There were 731 reporting lenders in 2024, up from 721 the year before. They reported roughly 9.1 million small-business loans totaling nearly $276.6 billion, an 8.1% increase in the number of loans and 6.2% increase in dollar amount.

• ICBA continues calling on Congress to advance: 1) The 1071 Repeal to Protect Small Business Lending Act (H.R. 976/S. 557), which would repeal the statute that underlies the CFPB rule; 2) The Small LENDER Act (H.R. 941) and PROTECTED Act (S. 2352), which would mitigate the adverse impact of the rule on small businesses and community banks. 

• The CFPB proposed amending provisions related to disparate impact standards -- the rule would: 1) Provide that the Equal Credit Opportunity Act does not authorize disparate impact claims; 2) Amend the prohibition on discouraging applicants or prospective applicants to clarify that it prohibits statements of intent to discriminate in violation of ECOA and is not triggered merely by negative consumer impressions; 3) Amend the standards for special-purpose credit programs offered or participated in by for-profit organizations to include new standards and related restrictions. Comments on the proposed rule are due by Dec. 15. 

• The Senate Agriculture Committee has released a draft of crypto market structure legislation with bipartisan backing – which the Senate Banking Committee has been unable to accomplish so far this year. The draft would empower the Commodity Futures Trading Commission to regulate crypto tokens, Jasper Goodman and Declan Harty report. The discussion draft led by Chair Boozman (R-AK) and Sen. Booker (D-N.J.) is a work in progress, with many key components marked as “unresolved” – not yet fully agreed to between the two parties. Crypto advocates and allies are pleased -- GOP Banking Committee member Lummis (WT)) said: “I hope it spurs us on.”https://punchbowl.news/archive/111125-am/

ECONOMIC & INDUSTRY NOTES

• “Unpacking” President Trump's 50-Year Mortgage Proposal. link

• Advances from the Federal Home Loan Banks dipped in the third quarter, but experts do not necessarily see the dip as a sign of ample liquidity in the economy. https://www.americanbanker.com/news/federal-home-loan-bank-advances-to-member-banks-dip-in-q3?utm_campaign=NL_AB_Daily_Briefing_11192025&position=1&utm_source=newsletter&utm_medium=email&campaignname=NL_AB_Daily_Briefing_11192025&oly_enc_id=6022C2600790I8Z