March 28, 2018

In This Issue: 
  • Reg Relief Bill Needs Push In House; Contact Your Representatives! 
  • John Williams Reportedly Frontrunner For New York Fed Presidency
  • As Deadline Nears, Latest On State Budget 
  • News On IBANYS Meetings. . .Plus Latest On Upcoming Webinars
  • Welcome To Luse Gorman, IBANYS' Newest Preferred Partner
  • New Feature: Spotlight Member Bank
  • Follow IBANYS On Facebook, Twitter, LinkedIn and Instagram!

Message From the President
John Witkowski, President & CEO
IBANYS Welcomes Our Newest Preferred Provider Partner:
Luse Gorman, PC

We are pleased to announce a new member of our team of IBANYS Preferred Partners: Luse Gorman, PC. Luse Gorman, PC has specialized in representing community financial institutions for over 25 years. They are consistently one of the leading law firms nationally in mergers and acquisitions. They are also the leader in capital raising transactions, including stock and debt offerings, mutual-to-stock conversions, mutual holding company reorganizations and other capital raising transactions. Their attorneys have completed more than 150 mergers in the past ten years alone, and nearly 100 capital raising transactions during this time period. The firm also advises financial institutions on a broad range of executive compensation and employee benefits matters, including ESOPs. A substantial part of the firm's practice also includes advising clients on SEC reporting and compliance, stockholder relations, corporate governance, strategic planning and bank regulatory and enforcement matters. 

For more information, please visit the firm's website at

Successful Launch Of Our New "CEO Forums"

On Monday and Tuesday, IBANYS hosted two very successful "CEO Forums" moderated by Karl and Eric Nelson of KPN Consulting.  The discussions covered a number of topics that were suggested by our IBANYS member banks, ones that are consistently on every community bankers' mind.  Feedback has been very positive from the participating CEO's, and we are looking to scheduling more of these meetings for the fall. We want to thank the 19 CEO's who attended the forums and we look forward to hosting another successful round of these forums in the future. 
Don't Miss Next Week's First Global Webinar On Digital Payments

IBANYS is hosting a webinar with First Global Data/First Global Money on Wednesday, April 4th at 9am. First Global offers direct to consumer payments and mobile payment services. They have developed proprietary leading edge compliance oriented technology that incorporates U.S. and international compliance rules for the safe and compliant movement of funds and payments domestically and internationally. They are focused on innovation, and have won multiple awards for having developed the best leading edge mobile wallet and payment technology. All of their technology has been independently audited and has passed banking regulatory and cyber security audits. Please pass the info for the webinar to members of your team responsible for Digital Wallets and Digital Payments. For more information about the webinar, including how to sign-up, scroll down to our IBANYS Education/Webinars section.

We Need Your Voice & Your Presence In Washington April 10

ICBA's Capital Summit is from April 8 to April 11, and will feature a number of important speakers and presentations. Most importantly, IBANYS has scheduled meetings  with the New York Congressional Delegation on Tuesday April 10.  Please come to Washington DC to meet with our Representatives and with senior financial service staff from Senators Schumer and Gillibrand. It is so important that we have a strong New York community banker presence in D.C. to push forward the agenda for community banking, both in New York and nationwide. 

Latest On Federal Regulatory Relief, State Budget Talks

In Washington, Congress is out on a two-week recess, and will return the week of April 8. There has reportedly been a delay moving forward in the House of Representatives on S.2155, the regulatory relief bill approved by the Senate earlier this month. Some House Republicans  -- including Financial Services Committee Chairman Hensarling -- appear intent on negotiating in additional measures the House GOP wants included in the legislation. ICBA and IBANYS are concerned this could jeopardize the bipartisan support achiueved in the Senate. Contact your local Representative(s) and ask them to support S.2155. 

In Albany, we are in the home stretch on budget talks between the Governor and the Legislature. The negotiators want to wrap things up by tomorrow (March 29) -- in advance of the April 1 deadline in order to accomodate for the religious holidays.

Remember To Review Our Upcoming Meetings!
IBANYS is YOUR association. Make it work for you!

- John

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2018 Meetings

The 2018 ICBA Capital Summit

April 8- April 11- Washington, D.C.
Join us at the next month's  ICBA Capital Summit in Washington, D.C. April 8-11 , to help propel our voice in the nation's capital. ICBA and fellow community bankers gather to advocate for change in various areas such as access to capital, regulatory and tax relief, mortgage reform and agricultural lending through   ICBA's Plan for Prosperity . During the summit, share your story with members of our New York Congressional Delegation and urge reform in meetings with federal regulators and policymakers. IBANYS is currently scheduling meetings "on the hill" with our Senators and Representatives. These  "hill visits"  will take place on Tuesday, April 10

Speakers at the general sessions will include: 
  • Budget Director & CFPBActing Director Mick Mulvaney
  • Comptroller of the Currency Joseph Otting  
  • Senate Subcommittee on Financial Institutions and Consumer Protection Chairman Patrick Toomey (R-Pa.)
  • Pollster & political commentator Kristen Soltis Anderson 
Register today  at  We look forward to seeing you in Washington, and t hank you for all that you do in support of community banking.

Regional Directors Conference

April 10- Rochester/Pittsford, NY at the Hilton Garden Inn Rochester/Pittsford
April 11- Troy, NY at the Hilton Garden Inn Troy

Click here for program details and  click here to register


Regional Human Resources Conferences

April 24- Rochester/Pittsford, NY at the Hilton Garden Inn Rochester/Pittsford
April 25- Troy, NY at the Hilton Garden Inn Troy

Bank Executive Symposium

May 7-9- Watkins Glen, NY at the Watkins Glen Harbor Hotel

Lending Conference

June 5-6- Fairport, NY at the Woodcliff Hotel & Spa


Regional Security Conferences

June 19 - Rochester/Pittsford, NY at the Hilton Garden Inn Rochester/Pittsford
June 20 - Troy, NY at the Hilton Garden Inn Troy


Annual Convention

September 25-27- Albany, NY at the Hilton Albany

Member banks:  Share this information  with your senior management teams, officers, directors, compliance, security and human resources  officers.  Preferred providers, associate members and business show exhibitors : Now is the time to plan to attend, participate, sponsor/exhibit.  Contact Linda Gregware: 
New Feature!
Spotlight Bank of the Week

Spotlight Bank of the Week is a new feature that we are adding to our website and e-newsletter. It is an opportunity to promote anything about your organization, such as fun facts, organization news, special events, etc. The Spotlight Bank of the Week will be featured on our homepage slider, e-newsletter, and our social media platforms for one week. So don't miss out on this exceptional opportunity to showcase your bank to thousands of people!

To apply, just fill out our registration form and email it to Natalie Rowan at

IBANYS Education/Webinars
IBANYS Webinars

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 convenience. Participants can take part from the comfort and privacy of their offices, without leaving the bank.
Our  Webinar Series offers many topics in the following categories:
  • Audit & Accounting
  • Collections
  • Compliance
  • Directors
  • Frontline & New Accounts
  • Human Resources
  • Information Technology
  • IRA
  • Lending
  • Operations
  • Security & Fraud
  • Senior Management
We are always adding more programs based on needs and requests of our members,
who drive our focus!  Take a look at the various series of webinars we offer by clicking each of the links below.

Digital Payments Webinar

hosted by
When: Wednesday, April 4, 2018
Time: 9:00 AM- 11:00 AM

Gain insight into the digital payments world with a webinar hosted by First Global data/First Global Money First Global is a digital wallet and an online payment software provider. They also offer direct to consumer payments and mobile payment services.They  have developed proprietary leading edge compliance oriented technology that incorporates US and international compliance rules for the safe and compliant movement of funds and payments, both domestically and internationally. They are focused on innovation, and have won multiple awards for having developed the best leading edge mobile wallet and payment technology. All their technology has been independently audited and has passed banking regulatory and cyber security audits.

Click here to learn more about First Global.

Webinar Information

Title: Webinar B/W First Global Data & IBANYS

How to Join- Web: Use your smartphone, computer, or tablet and use the link below to join the webinar on Wednesday, April 4th at 9:00 AM. 

* If it's your first GoToMeeting, you can do a quick system check by clicking here or by clicking this link:

How to Join- Phone: You can dial in to one of the numbers below using your phone and the access code to join the webinar on Wednesday, April 4th at 9:00 AM.

Access Code: 161-851-813 

United States:  +1 (224) 501-3318 

More Phone Numbers
Canada:  +1 (647) 497-9373 
Government Relations
State Budget Deadline Almost Here -- Agreement Appears "Close"

The State Legislature and Governor Cuomo face an April 1 deadline to enact the state budget -- and, have established their own arbitrary date for enactment of tomorrow, March 29, to allow for the religious holidays. Legislators  and Gov. Andrew Cuomo are seeking agreement on a $168 billion spending plan. Negotiators are reportedly close to agreement, with most major issues in place. Progress on a new state budget "limped along" Tuesday, a day after a Monday meeting of Governor Cuomo and legislative leaders described as "explosive in tone and language." Some provisions still remain unresolved despite the lengthy meetings. Many of the "policy positions" (e.g., the Child Victims Act, gun control measures and criminal justice reform) reportedly have been removed from the discussions. Complicating the negotiations this year: Senate Republicans view the Governor as working to remove them from power in Albany after next month's special election. Nearly all GOP senators have endorsed their Deputy Majority Leader John DeFrancisco in his effort to obtain the GOP gubernatorial nomination. (Dutchess County Executive Marc Molinaro is also running.) DeFrancisco was pleased by the removal of the policy issues. "It just seems like we're getting down to the dollars and cents, which is what a budget is." 
  • The election-year budget proposal attempts to deal a $4.4 billion deficit, and the threat of billions of dollars more lost in federal Medicaid aid. 
  • State Comptroller DiNapoli is concerned over rising debt, forecasts of future deficits and "murky" economic revenues that taxpayers may have to pay for in post-election-year budgets.
  • The budget plan would reportedly also include changes to the state tax code to skirt new federal limits on the deductibility of state and local taxes. 
  • Negotiators were also reportedly considering including a commission to consider increasing legislative  salaries, which have been fixed at $79,500 since 1998.

Washington, D.C.

 Congress On Recess -- Reg Relief Facing New Challenges In House 

Congress is on its two-week recess and will not return until the week of April 8. There has reportedly been a delay in the House of Representatives moving forward on S.2155, the  Economic Growth, Regulatory Relief and Consumer Protection Act passed by the U.S. Senate earlier this month. The legislation would provide the most meaningful regulatory relief from Washington since Dodd-Frank was enacted in 2010. Some House Republicans -- including Financial Services Chairman Hensarling -- want to negotiate additional measures favored by the House GOP into the bill already passed by the Senate, which could jeopardize the bipartisan support achieved by S.2155. IBANYS is asking New York community bankers, from the C-suite to the frontline to the board of directors, to reach out to their local Representatives at their district offices during this two-week recess and tell them you need them to vote for New York community banks' regulatory relief. You may also continue using ICBA's "Be Heard" grassroots action center at to urge them to support this vital legislation as is. As ICBA President & CEO Cam Fine recently noted: "Everything in the bipartisan Senate bill is good for community banks, credit unions and consumers. . .not every single good proposal is in the bill, but ICBA will not participate in killing a solid bipartisan bill just because it does not have everything we could want in it. . .Over 2,500 community banks have disappeared since the crisis as a result of crushing regulatory burden leaving hundreds of communities in this nation without any choices in financial services. It is time that Republicans in the House move as quickly as possible to get this essential regulatory relief bill for Main Street America passed. . ."

Time To Overhaul CRA Regulations?

Randal Quarles, the Federal Reserve's Vice Chairman for Supervision, recently noted that the Fed might need to overhaul Community Reinvestment Act regulations because of changes to lending to low-income customers that have come about as a result of financial technology advancements. He said the rise of online lenders, known as "fintech" firms, as well as industry consolidation, has reshaped the community lending landscape. Quarles joined the Fed Board of Governors and was sworn in as Vice Chairman for Supervision last October. His term as Vice Chairman for Supervision ends on October 13, 2021. 

New Federal Banking Regulatory Team Nearly Complete

Jelena McWilliams is set to succeed Martin Gruenberg as FDIC Chairman as earl y as next  month. Once in place, she will join Richard Otting (OCC), Jerome Powell  (Federal Reserve) and Mick Mulvaney (CFPB) to complete President Trump's lineup of financial regulators. Some observers expect to see a surge in relief from post crisis rules. Meanwhile, FDIC Deputy to the Chairman, COO and Chief of Staff Barbara Ryan will retire April 30. She has been at the FDIC since 2005. 

Morelle Will Run To Succeed The Late Congresswoman Slaughter

NYS Assembly Majority Leader Joseph Morelle (D-Rochester) announced he will run for the 25th congressional district seat left vacant by the death of longtime Representative Louise Slaughter. Morelle, first elected to the Assembly in 1990, has the support of the Slaughter family, Rochester Mayor Lovely Warren, and a number of local political leaders. Potential Democratic primary challengers include Rochester mayoral candidate Rachel Barnhard and Brighton Town Board member Robin Reynolds Wilt. The House primary is in June. James Maxwell, a neurosurgeon, as announced he is running on the Republican side. It remains to be seen who runs for Morelle's Assembly seat. The Assembly primary is in September.  

Who Will Control Tax Regulations: Treasury, Or OMB? 

A plan set to be considered -- and reportedly approved -- by the White House would give the Office of Management and Budget greater control over the issuance of tax regulations. The Treasury Department currently is able to independently issue tax rules. Some congressional Republicans and regulatory experts have called for more OMB involvement. However, House Ways & Means Chairman Kevin Brady (R-TX) has been a strong advocate for Treasury, arguing it should keep its exemption on regulation and guidance coming out of the IRS. At stake is the final say over IRS regulations - and the implementation of the Republicans' tax law. A final and formal decision is expected in the next few weeks.

New Farm Bill On Horizon

Congress is planning to write a new farm bill in the coming months, and ICBA has released a white paper with its principles for a new multi-year farm bill. ICBA's "Focus on Farm Policy" white paper provides community banker-inspired farm policy reforms ahead of the Sept. 30 deadline. It outlines key agricultural focus areas, including funding commodity programs and crop insurance, enhancing USDA farm loan programs, and reforming the Farm Credit System. It also includes five principles for the farm bill, such as regulatory relief and fair treatment of all stakeholders. IBANYS will be discussing the new farm bill during our congressional visits in Washington, D.C. April 10.

We Need New York Community Bankers To Come To Washington

null A key component of ICBA's "Capital Summit" (April 8-11)will be IBANYS' visits on Tuesday, April 10 with members of the New York congressional delegation. This is our once-a-year opportunity to meet with our Representatives in their Washington offices. It is our best chance to advocate for key industry priorities, including the passage of S.2155, the vitally important regulatory relief bill. Register for the conference and with the hotel at . Then, please e-mail IBANYS' Steve Rice ( the name(s) of your local Representative)s) so we can make sure to include you to our meetings. 
Make your voice heard .
Action Alert

Contact Your Local Congressional Representatives: 
Urge Them To Vote For S.2155 Regulatory Relief Bill As Is

The bipartisan Senate regulatory relief bill (S.2155), has been approved by the U.S. Senate 67 votes affirmative votes. T he action now moves to the House of Representatives. The challenge now is to urge the House to approve the Senate legislation as is, without adding any amendments that would jeopardize the bipartisan support demonstrated in the Senate, where 16 Democrats joined their Republican colleagues in voting for the measure.  IBANYS is conducting a grassroots outreach effort with the New York House delegation. To email or call your Representatives, click on the links below:

We have written to each member, but we need YOU to contact your local Representatives. Call their district offices while they are home for the two-week recess beginning this weekend. You can also visit and use their "Be Heard" grassroots site to tailor your messages.

Industry Trends & Updates
 Learn Portfolio and Balance Sheet Management With Your Peers

ICBA Securities is presenting its annual Balance Sheet Academy on April 23-24 in Memphis, TN. This is an intermediate-level program that will teach attendees how to profitably manage different parts of a community bank balance sheet.  It is a 1 ½ day class that can award up to 12 hours of CPE credit at a very cost-efficient price. The  Balance Sheet Academy  advanced seminar is designed to expose seasoned community bank portfolio and balance sheet managers to advanced products and concepts. The objective 
is to enable the attendees to consistently outperform their peers.  The dynamics of a community bank balance sheet require an investment professional to be versed in a widening range of topics.  Balance Sheet Academy  provides discussion and practical classroom exercises to equip the attendees for these demands.  Examples of these topics include in-depth mortgage analytics, detailed municipal credit evaluation, and more advanced interest rate risk management strategies.  Attendees will learn how the changing economic data impacts the bond market from the Vining Sparks Chief Economist and will also hear first-hand testimony from a fellow experienced community banker about successful balance sheet management. 

Click here for more information and to register.

Williams Reported Frontrunner To Succeed Dudley  As New York
Fed President

The Wall Street Journal and CNBC have reported that San Francisco Federal Reserve Bank President John Williams is the likely successor to William Dudley as President of the New York Federal Reserve Bank. He is a PhD economist and leading monetary policy expert who has spent nearly a quarter-century at the Fed. He was Director of Research at the under Janet Yellen during her tenure at the San Francisco Fed, then succeeded her as President in 2011. He is viewed as a centrist who supports gradual rate hikes now, but also as a leading proponent of keeping a relatively low interest rate for the economy in the long run. Williams' appointment has not been confirmed officially. "Nothing is final," according to a New York Fed spokesman.  Some House Democrats viewed the search as a litmus test for how serious the Fed is about promises to build a more diverse leadership team.  U.S. Sen. Elizabeth Warren has said Williams should testify before the U.S. Senate Banking Committee before being approved. The appointment does  not require Congressional approval.  Williams must still be formally nominated by the New York Fed Board and approved by the Federal Reserve Board of Governors,  subject to review by the Federal Reserve Board of Governors in Washington. The New York Fed is considered to be "first-among-equals" of the Fed banks. It  is the Fed's operational arm on Wall Street, and its  president always has a vote on interest rates, while other Fed presidents rotate. 

Price of Homes Increasing at Double the Rate

Data from S&P Dow Jones Indices released yesterday showed that prices of U.S. homes are increasing at double the rate that the economy is growing. Prices for homes went up at an annual rate of 6.2 percent in January compared to the same period in 2017. Two factors cited as supporting price increases are 1) the low inventory of homes for sale and 2) the low vacancy rate among owner-occupied housing.


Consumer Confidence Down in March

The Conference Board reports consumer confidence slowed in March from an eight-year high. The Consumer Confidence Index dipped to 127.7 from 130.0 in February. Assessments of current conditions and expectations declined, but overall sentiment remains favorable. Meanwhile, U.S. economic growth slowed less than previously estimated in the fourth quarter, thanks to the biggest gain in consumer spending in three years. GDP expanded at a 2.9 percent annual rate in the final three months of 2017 (revised from the previously reported 2.5 percent), according to the U.S. Commerce Department. That was a slight moderation from the third quarter's brisk 3.2 percent pace. After-tax corporate profits increased at a 1.7 percent rate in the fourth quarter after rising at a 5.7 percent pace in the third quarter. Growth in consumer spending, which accounts for more than two-thirds of U.S. economic activity, was revised up to a 4.0 percent rate in the fourth quarter from the 3.8 percent pace reported last month.

Banking News
Online Lending

Excelsior Growth Fund (EGF) is NYBDC's nonprofit Community Development Financial Institution and IBANYS' exclusive online lending partner. Their  mission is to help businesses in New York, New Jersey and Pennsylvania grow by providing small business loans and advisory services. As a nonprofit organization and a U.S. Treasury-certified Community Development Financial Institution  (CDFI) , they're a responsible lender you can trust. Their  products are affordable and flexible, and their advisory services can help you reach your business goals. Their signature product, the EGF SmartLoan™, provides up to $100,000 through a streamlined online platform.  Loans are approved in 1-2 days and funded in a week.  For more details, please visit: 

Spotlight Bank of the Week

Alden State Bank was founded in 1916 and serves Alden, NY and surrounding communities. Alden State Bank is committed to providing innovative, state-of-the-art banking products and services with a focus on customer service. Some of their many services offered include personal and commercial deposit & loan products, debit cards, and online/mobile banking.

Alden State Bank has a strong community presence and is involved in numerous programs and activities. This year, Alden State Bank will again sponsor for 2018 a TQ Midget car that races at short-tracks and it will make several promotional appearances across Western New York. The bank is a primary sponsor of several prominent community events as well, such as Alden Winterfest and the 5K "Dollars for Scholars" Race. Alden State Bank also supports many non-profit fundraisers in Alden and neighboring communities. During the summer months, the bank holds annual customer appreciation hot dog roasts at both of their locations, which are always well-received by the community. Other recent promotional events include a "money booth", sponsored by their Kasasa rewards checking products, and appearances at the local farmers market. 

To read more information about Alden State Bank or to learn more about their products and services, please visit

IBANYS Spotlight Is On...


This program serves banks & diversified financial institutions.  Meeting the insurance needs of depository financial institution clients, which can range from a community bank to a credit union to a diversified financial company, can be a challenge. Fortunately, Travelers has many solutions for this varied client segment.  For more information, contact Mark Horton:   (800) 542-8770.

For information on their services offered, click here or visit
IBANYS Endorsed Services

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

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:
"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

Contact Alan Justin: (716) 907-5500. 

"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.  Lake Shore Savings Bank has 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  to get involved! Of all new cancer cases in the nation, prostate cancer represents 9.6%. In 2017, there were an estimated 161,000 new cases, and more than 26,000 fatalities due to the disease. Support IBANYS' "Cure the Blue" campaign to help New Yorkers participate to promote prostate cancer awareness and research.

Secure. Enhanced Internet Presence

The .bank program by fTLD operates trusted, verified, more secure, easily-identifiable internet locations for financial companies and customers. 

Did You Know?

That nine individuals have served as President of the Federal Reserve Bank of New York? Paul Volcker later went on to serve as Chairman of the Federal Reserve under Presidents Carter and Reagan. Timothy Geithner later served as Secretary of the Treasury under President Obama.

New York community banks play a key role in our state and local economies. Help spread the good news among our customers, business, elected leaders and the media!

John J. Witkowski
President & Chief Executive Officer

Stephen W. Rice
Director of Government Relations & Communications

Linda Gregware
Director of Administration & Membership Services

William Y. Crowell III
Legislative Counsel

Natalie Rowan
Marketing & Social Media Assistant
Connect With Us!