March 31, 2021
IBANYS Weekly E-Newsletter
  • Visit our website at www.ibanys.net to review our daily updates on COVID-19.

The President's Message
By John Witkowski, President & CEO

April is a busy month for IBANYS and New York community bankers, with two important virtual programs on tap!


1) THE IBANYS MID YEAR MEETING - "ALL BANKS ON DECK" - IS APRIL 19-20 VIA ZOOM. . .Each day will begin at 8:45 a.m. and adjourn at 3:00 p.m. As we continue to work in our “new normal” this format provides IBANYS an alternative way to continue to provide important and timely educational programs to all New York Community Bankers and their staff until we can gather in person safely again. We have put together an outstanding slate of speakers who will share their knowledge and expertise on an array of timely and important topics. It's a single registration fee for the bank, and alll employees can then participate. . .and, earn up to 11 continuing professional education (CPE) credits. Here is the brochure with agenda details and registration information.


2) The 2021 virtual ICBA Capital Summit is set to livestream April 27 with remarks from Senate Banking Committee Chairman Sherrod Brown (D-Ohio). The event also will feature virtual Capitol Hill visits with members of Congress and staff on critical community banking advocacy priorities. Learn more and register.. . .ICBA's 2021 community banking agenda (provided in an open letter to Congress) urges a pragmatic agenda of regulatory relief and a more competitive landscape to promote a dynamic economy. READ ICBA RELEASE. . .Please watch your email for details on IBANYS' scheduling of virtual ZOOM meetings with New York congressional offices, and how you can participate. . .See the Washington section of today's newsletter for more information. To keep up: visit the 2021 ICBA Capital Summit information portal.

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This is budget crunch time for the Legislature and the Governor, with the minding "deadline" looming. Most everyone expects enactment will be delayed until later in the week. Major issues, including taxes, extension of the forbearance moratorium, are in the mix.

Also, this morning Governor Cuomo signed a bill to legalize recreational marijuana for all adults over the age of 21. His office said the marijuana industry in New York is expected to generate $350 million in tax revenue annually and potentially create 30,000 to 60,000 jobs.


Of course, the budget enactment won't end the 2021 legislative session, which runs through mid June. A number of other bills of interest to community banks remain in the legislative process, and IBANYS will keep you fully informed and involved as the session unfolds.

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We hope you are all staying safe, and we thank you for all you do every day for your customers, your communities and our industry . . .and, of course, for IBANYS!
Genesee Regional Bank
Recognized by S&P Global Market Intelligence as One of the Country’s Best-performing Community Banks in 2020
Rochester, NY. Genesee Regional Bank (GRB), a locally owned and operated bank specializing in business banking, personal banking, and home mortgages, has been recognized by S&P Global Market Intelligence as one of the “Best-performing Community Banks for 2020” for banks up to $3 billion in assets. Ranked at no. 23, GRB is the only New York state community bank on the nationwide list.

Read Press Release Here
IBANYS 2021 Virtual Education Meetings
Mark Your Calendars & Save These dates
A message from IBANYS Chairman of the Board – Michael Wimer, President & CEO, Cattaraugus County Bank

“ALL HANDS ON DECK”!! 

That’s indeed how many of us have been operating – especially over the past year+
Which makes it indeed an appropriate title for our April (virtual) gathering of New York’s independent community banks & bankers!

John and the team have done a great job of putting together another line-up that is so full of value – the speakers are top-notch, the topics and content are relevant and focused … and the “company” of all our friends from across the state will be “don’t-miss!”

While we are all eager to be able to gather in person again (hopefully even later this year – fingers crossed!), in the never-wiser words of Geoffrey Chaucer, “Time and tide wait for no man” – and neither does IBANYS! So while we work towards literally being in person again, don’t let this ship sail without you – come sail with us, all rowing in the same direction … and don’t risk being thrown overboard!!

(We’ll work on a few more clichés before April 19 – just make sure you’re there!)

See you all then,

- mike

COMPLETE BROCHURE AND MEETING DETAILS ARE ATTACHED!!
  • Monday & Tuesday, April 19-20, 2021 - "All Banks On Deck" - Community Banks Mid-Year Conference - 8:30 a.m. - 3:00 p.m. each day

We hope you join us for this amazing event. Here are some of the topics our speakers will discuss....more speakers and topics are being added.

  • ICBA Update
  • Compete to Win — Digital Strategies for Community Banking
  • Syncing Portfolio Analytics, Stress Testing, and Loan Review: The Exponential Power of the Three Combined
  • State of the Housing Market and the FHLBNY’s new Mortgage Asset Program (MAP)
  • Faster Payments
  • Continued Evolution of a Bank’s Investment Portfolio
  • Digital Marketing Strategies You Can Take to the Bank
  • Building High Performance Teams in an Agile Virtual World
  • Bank Cybersecurity: Looking Back to Look Forward
  • Cares Act Section 4013 Update
Event Platform: ZOOM Live Webinar (registration is required)
  • How to register: Each bank and supporting company of IBANYS will pay ONE REGISTRATION FEE. All employees of that bank/company may attend any and all sessions.
  • Each person must be registered (first & last name and email are required for each registrant).
  • A unique registration link will be sent to each registrant.
  • You may attend the entire event or select sessions.
  • You log in five minutes prior to the start of your session.
MEET THE SPEAKERS
Gary Hoy, Appointment University
Overcoming Contact Reluctance
Through years of trial and error, Gary developed an amazing ability to “open doors.” He went on to individually counsel hundreds of business owners and many Fortune 200 companies when he understood what he was doing to schedule appointments could be taught. He authored a book (Call Power) on call reluctance that sold 50,000 copies. He decided to stay focused on helping individuals with one key element of sales – dealing with the reluctance associated with prospecting.
Continued Evolution of a Bank's Investment Portfolio
Jim Reber is president and CEO of ICBA Securities, ® part of the ICBA Services Network® and a wholly owned subsidiary of the Independent Community Bankers of America®. Reber joined the company in 1990 and was elected president and CEO in 2005.
Prior to joining ICBA Securities, Reber was senior vice president and investment strategist of Vining Sparks IBG, a leading broker-dealer for institutional investors, now ICBA Securities’ exclusive broker. Reber also served as vice president of Union Planters Bank in Memphis.
With over 30 years of experience, Reber is a frequent speaker at bank conventions, seminars and conferences. He also writes a monthly investment column for the award-winning national magazine, Independent Banker®.
Reber is a certified public accountant and a chartered financial analyst. He is on the board of regents of the Paul W. Barret School of Banking and served as its chairman in 2017. Reber received a BS in accounting Magna Cum Laude from Christian Brothers University and serves on the Board of Trustees.
Jim Reber, President & CEO, ICBA Securities
ASSOCIATE MEMBERS & PREFERRED PARTNERS
AHT, a Baldwin Risk Partner, is an insurance brokerage and consulting firm offering property and casualty, employee benefits, retirement, personal and international services for clients throughout the United States and 42 other countries. We support numerous industries and boast national recognition for practices in areas, such as financial institutions, technology, government contracting and nonprofits.

Contact: Dennis Gustafson
Financial Practice Leader
Phone: 646-866-7451
E-Mail: Dennis.Gustafson@ahtins.com
Learn more: www.ahtins.com
Bank owned specialty financing platform that provides customized working capital solutions from $1 mm to $10 mm nationwide.

Contact: Mark Simshauser, Senior Vice President
Phone: 516-660-4501
E-mail: msimshauser@axiombanking.com

Contact: Dan Karan, Executive Vice President
E-mail: dkaran@axiombanking.com
ProcessMaker is a process automation platform that empowers banks to easily design and automate sophisticated banking processes such as commercial / retail account opening, treasury services / loan origination, and several back office processes.

Contact: Matthieu McClintock, Dir. of Marketing
Phone: 561-914-6075
E-mail: matt.mcclintock@processmaker.com
Learn more: www.processmaker.com
The Baker Group is one of the nation’s largest independently owned securities firms specializing in investment portfolio management for community financial institutions. Since 1979, we’ve helped our clients improve decision-making, manage interest rate risk, and maximize investment portfolio performance.

Contact: Michael Murphy
Phone: 405-415-7200
Email: mmurphy@gobaker.com
Learn more: www.gobaker.com
How to Evaluate Marketing Success with Limited Resources
Measuring marketing campaigns and efforts is necessary for both optimizing processes and proving value. Especially with the lasting budget impacts from COVID-19, the need to prove marketing effectiveness has increased to justify any marketing costs as well as gain ongoing approval and buy-in from leadership. Find out how leveraging the right marketing technology solution can enable you to easily measure the value of your marketing campaigns.

News from ICBA
2021 ICBA Capital Summit - Virtual
April 27, 2021
Join ICBA and fellow community bankers as we advocate for change in these areas through our Plan for Prosperity legislative platform. By coming together and espousing the community bank message, we will make change happen for our business, our customers and our communities.
 
While the last year was unexpected and unprecedented to say the least, community banks continued to show up and support their communities as they have before. This year is the start of a new Congress, and new and incumbent members of Congress need to hear about the importance of our industry directly from community bankers like you.
Community banks invest in and support their communities in good times and bad. Community banks build more resilient communities, and the COVID-19 pandemic demonstrated this positive economic impact firsthand as community banks once again rose to the challenge—saving tens of thousands of local small businesses and jobs across the nation.
 
Join us for the 2021 ICBA Capital Summit, the preeminent annual event to advocate for our industry and your community.
 
To keep up with the speakers, session info and agenda, visit the 2021 ICBA Capital Summit information portal.

ICBA Securities - Bond Academy
 April 19-22, 2021 Virtual Event
We are excited to introduce our virtual Bond Academy, an 8-part series designed to provide bank portfolio managers with the basic knowledge needed to help plan and create effective investment portfolios. 
A high performance investment portfolio can provide a meaningful increase to your institution’s bottom line and serve as a valuable risk management tool. These hour-long sessions will provide you with the tools to understand how debt instruments work and their overall role in complementing the entire balance sheet.

WEBINARS
IBANYS Webinars

Are you participating in IBANYS webinars? Now is the time! IBANYS webinars provide timely, important information on subjects of interest to New York community bankers including human resources, business development, investment, compliance and security and much more. They are valuable not only for their content, but for their convenience and low-cost. Take part from the comfort and privacy of your office, without leaving the bank. 
Subscription Tokens
The More You Buy, The More You Save
 
How does it work:
Tokens can be used to purchase live or recorded webinars anytime, with no expiration! Tokens for both live and recorded webinars are available for an additional fee. (What’s the difference? Click here for the full description.)
 
Once you have your Subscription Token code, you can immediately register for webinars by using the code at checkout! (Subscription tokens not applicable for full series registrations, or other specials.)
Albany Update
The state budget "deadline" is11:59 p.m. tonight, but it is unlikely that legislators find a way to finish up the state’s spending plan on time -- later in the week is more likely. The biggest question still seems undecided: how much the state might make in new revenue from increased taxes on high earners. While the Senate and Assembly supported $7 billion in new taxes, Governor Cuomo has said only about $2.5 billion is needed due to recent federal aid.

This budget bill (Part LL from S.2508-C A.3008-C the TED budget bill) extends the covered period for residential mortgage forbearance until at least 12/31/21 or until the Executive Orders issued during the pandemic are not in effect. This bill is the first budget bill in print.

  • With a most unusual legislative session very different budget negotiations, "Spectrum News" took a look at the background and a review of five things to watch for in the budget -- including on taxes: https://spectrumlocalnews.com/nys/central-ny/ny-state-of-politics/2021/03/31/5-things-to-expect-from-new-york-s-budget

Latest State Legislative Activity
Bill introductions for March 8th through March 26th, as well as bill activity for last week and committee agendas for this week, are provided: 

  • A06617A prohibits bank set off and execution of judgments against emergency relief funds and is on the Assembly Codes agenda. 

  • S.2061/A.6281 would amend the State Banking Law (section 9-L) to prohibit a bank from imposing a fee on a non-customer of the bank when cashing a check drawn on an account of the bank. IBANYS is preparing a Memo in Opposition.

Legislation permitting credit unions to participate in the Linked Deposit Program was reported by the NYS Assembly Economic Development Committee to the Assembly Ways & Means Committee with no negative votes. IBANYS is monitoring this issue closely and will be prepared to offer our opposition, as we have successfully done in previous years.

Earlier legislative activity
Other recent legislative activity in Albany (both committee agendas and bill activity) for the current week: See here and here . . .See here and also here click here. . . here . . . here. . . here. . . here

Other previous legislative activity 

State Comptroller DiNapoli reported that job losses from the pandemic and the ensuing economic shutdown were swift and deep: employment in New York declined by nearly 2 million jobs from February to April 2020. New data released by the State Department of Labor show less than half of the jobs lost during that time have been recovered, and employment remains more than 1 million jobs below pre-pandemic levels. The finance and insurance industries, within the broader category of financial services, lost about 7,000 jobs since May 2020, in addition to the 8,100 job decline in March and April, on a seasonally adjusted basis. Read the full report: www.osc.state.ny.us

New York will become the latest state to legalize marijuana. The legislation passed the state Senate by a vote of 40-23 Tuesday night, followed by a 100-49 vote in the Assembly. Governor Cuomo plans to sign the bill. Legal sales are expected to begin a year or more from now for adults 21 and over, eventually growing into a new industry generating $350 million in annual revenue for the state. Read More


IBANYS will monitor developments, and will keep you fully informed.
Washington Update

  • April 27 is the 2021 ICBA Virtual Capital Summit. We urge you to participate -- and, to join in IBANYS' grassroots push in virtual "congressional visits" with members of our New York Congressional Delegation. In the face of the pandemic, New York community banks once again demonstrated our positive economic impact, saving thousands of local small businesses and jobs throughout our state. Our New York Representatives need to hear about the importance of our New York community banking industry -- FROM YOU. Click here to learn more & register. . .then, let us know which congressional office "visits" you would like to join.


  • While ICBA last week submitted its comment letter urging the National Credit Union Administration to withdraw a proposal on credit union services organizations, community banks can still submit comment letters after the agency extended the deadline 30 days. Details: The NCUA proposal would allow these corporate entities owned by credit unions to make any type of loan permitted for federal credit unions—even though they are not supervised by the agency and are exempt from Federal Credit Union Act consumer protections. Background: CUSOs are owned by credit unions but are not mutually owned, member owned, required to serve credit union members, or overseen by credit union laws and regulations. Instead, they're privately owned and often for-profit businesses. Taking Action: ICBA's Be Heard action center makes it easy for community banks to urge the NCUA to withdraw the proposal to avoid further eroding the credit union industry's tax-exempt mission. SUBMIT COMMENTS



  • A number of House Democrats – including Rep. Tom Suozzi (D-L.I.) and “Problem Solvers Caucus” Co-Chair Josh Gottheimer (D-N.J.) are threatening to withhold support from President Biden’s $3 trillion infrastructure proposal unless there is a repeal of the rule that limits state and local tax (SALT) deductions to $10,000, which was enacted as part of the 2017 tax law. Rep. Suozzi stated: ““It's a body blow to my entire state. It's an existential issue. People are leaving my state because of the cap on the SALT deduction and it's only been exacerbated by the coronavirus. And when people leave the state because they lost the SALT deduction, then moderate-, low-income [taxpayers] and the rest of us are left behind holding the bag…Which means either our taxes are going to go up or our services are going to get cut. And neither of those are a good alternative for us.” Senate Majority Leader Schumer and Senator Gillibrand are strong proponents of eliminating SALT deductions cap.  

  • PPP extension signed into law. President Joe Biden signed into law ICBA-advocated legislation to extend the Paycheck Protection Program ahead of its scheduled expiration. Background: Previously, any PPP application not approved by March 31—even if it was submitted prior to that date—could not receive PPP funds. The new law allows borrowers to apply for loans through May 31 and gives the SBA until June 30 to consider applications. ICBA Position: ICBA strongly supported the two-month extension to ensure small-business and nonprofit applicants are not stranded by an abrupt shutdown. What's Next: With the PPP extended, ICBA continues urging Congress and the SBA to make program fixes related to eligibility, use of proceeds, farm partnerships, and Schedule C borrowers. More: PPP information and resources are available on the SBA and Treasury sites and ICBA's PPP and EIP News page.