May 29, 2019


In This Issue: 
Message From The President

By John Witkowski, President & CEO
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*UPDATE*
Credit Unions Municipal Deposits Bill 
Moves To Forefront In Albany UpdateCreditUnionsPresMessage

. . .As Senate Banks Committee Pulls It From Agenda

At this morning's State Senate Banks Committee, Chairman Sanders pulled from the agenda legislation (A.3262, Zebrowski/S.6079, Sanders) to allow credit unions  to accept and secure public deposits. It's positive news, in that no immediate action was taken, but there is still a great deal of work to do. With more than three weeks left in the 2019 legislative session, the Committee will continue to work on the bill, and the Chairman remains supportive. The Assembly has not yet taken any action on the legislation. IBANYS is strongly opposed to allowing credit unions, which are tax-exempt and not subject to CRA mandates, to accept public deposits. All of our efforts (IBANYS' testimony before the Assembly Joint Hearing last week, Memo in Opposition, response to the credit union "white paper" and member banks' outreach to local legislators and committee members) are clearly having an impact! 

Your letters and calls to legislators are making a difference. Please keep reaching out to strongly oppose this legislation, and explain the negative impact it would have on your bank, your local communities and your customers.
  • Read IBANYS' Memo in Opposition and detailed background analysis to members of the Legislature
New York community banks are not concerned with the competition for municipal deposits from credit unions. (There is significant competition for municipal deposits not only from banks, but from investment funds operated on a cooperative basis such as NYCLASS and NYLAF.) We are concerned with unfair competition. Community banks only want a level playing field. 

Thanks to IBANYS  Chairman Tom Amell, President & CEO, Pioneer Bank ; Industry consultant Lawrence Heilbronner-Kolthoff (who spent 21 years as CFO of Canandaigua National Bank and Trust Company , currently a Director), and  Kevin Klotzbach, EVP & Senior Financial Advisor of Five Star Bank  (who served as CFO & Treasurer) for their outstanding testimony on behalf of New York community banks. Thanks to all our member banks who have written and called their state legislators to oppose the legislation.

IBANYS Members:

Contact your local members of the State Assembly and Senate and express your strong opposition to this legislation.  Learn how in today's newsletter We'll continue to keep you informed of further developments as they unfold. 

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IBANYS' Annual Convention Is Less Than Two Weeks Away! 
Are You Registered? 

IBANYS' signature event of the year, our 2019 Annual Convention, is almost here!
  • Network with community bankers & potential business prospects; 
  • Hear expert presentations on important issues facing our industry;
  • Meet IBANYS' preferred partners, associate members and exhibitors;
  • Participate in our trademark Exhibitor Tradeshow; 
  • Learn about the best - and newest - products and services designed to help community banks' operations, strategies and bottom line; and
  • Support community banking in the legislative sphere with our PAC Silent Auction
With so many exciting reasons to attend, now is the time to register for IBANYS' Annual Convention at Turning Stone Casino & Resort in Verona, New York on June 10-12. Contact Linda Gregware to register, sponsor, or exhibit or visit our website

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2019 Meetings

Attend One of Our Educational Meetings! Meetings2019


Our 2019 Meeting dates and locations are now available! These educational conferences cover various subjects that are important within the community banking industry, spoken by the experts. T hey are also a great opportunity to network and earn CPE credits. Here is what we have planned for 2019:


Banking Executive SymposiumBankExecSymposium

September 9-11, 2019
200 Riverside Drive
Clayton, NY 13624

CPE Credits Available  = TBD

__________________________________________________________________

Have an idea for one of our meetings? Want to see a meeting or forum on a different subject? We want to hear from you! 
Contact Linda Gregware or John Witkowski with your thoughts and/or comments.

2019 Annual ConventionConvention19

Get Ready For 2019 Annual Convention!

 

SAVE THE DATE

When:

June 10-12, 2019


Where:

5218 Patrick Rd, Verona, NY 13478


 Brochure                    Registration Form



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Hotel InformationConventionHotel


Arrival Date: Monday, June 10, 2019
Departure Date: Wednesday, June 12, 2019


Each attendee must make their own reservations by calling the hotel directly at
1-800-771-7711.  All individual reservations will require one night's room deposit (including applicable taxes and surcharges) or a valid credit card to guarantee the reservation. Single/double occupancy is available in a Tower Room or a Junior Suite. Check in 3 p.m., check out 11 a.m. Reservations received after this date accepted on a space and rate availability basis and cannot be guaranteed at the conference rate. View full information on the hotel and booking. 

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Convention Favorites Are Back!ConventionFavoritesPAC


Six-Minute Drill 

For our 2019 Annual Convention, IBANYS is continuing with a favorite-the 6 minute drill.  This convention favorite offers our IBANYS preferred providers the opportunity - from the podium - to take a brisk six minutes and showcase their firms, products and services, and to demonstrate exactly what they can do to help New York community banks.

Thank you to our 6 minute drill sponsors!
gschwender 


PAC Silent Auction


Our PAC Silent Auction returns! This a wonderful opportunity to help our industry stay competitive in the political process in Albany by supporting IBANYS' state political action committee, NYSIBPAC. 

The PAC contributes to New York State candidates and officials who understand and support the vital role community banks play in our local and state economies, as well as our communities.   Donate a gift today! View full information on the PAC Silent Auction here or download the PAC Silent Auction form to submit an item. 

Need gift ideas?
View our video from last year's Convention for suggestions!

There is also a recently released video for this year's PAC Silent Auction that can provide additional gift ideas. Check out items that have been donated so far:


These are just some of the many items that will be available at the PAC Silent Auction. Don't miss out on the fun and register to attend or donate an item today!

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Sponsorship & Exhibitor InformationExhibitorSponsorshipConvention


Demonstrate your support for community banking by becoming a sponsor or exhibitor at our Annual Convention! Our Convention Trade Show provides the opportunity for exhibitors to discuss their products and services with attendees, while also providing something that is unmatched in today's digital age: face-to-face interaction.

THERE'S ONLY 9  SPACES LEFT!

IBANYS'  exhibitor trade show b egins Monday, June 10 at 5:30 p.m. and concludes Wednesday, June 12 at 11:00 a.m. View booths available, along with full exhibitor information. Or download the exhibitor registration form here


Becoming a convention sponsor gives your organization the chance to show its continuing support for community banking in New York, and to be recognized in our printed materials, signage and from the podium. Our Convention has various sponsorships available, including bronze silver, gold, and platinum sponsorships. Page 9 of our Convention brochure lists sponsorships available and what is included.

These two important opportunities give your organization a chance to both present your firm's products/services and show your support for community banking while networking with individuals who all value one common thing: the power of community banking.

Please take a moment to carefully review, and act soon to secure both your exhibitor booth location for the trade show and the event/activity you wish to sponsor.

Please note:  Both exhibitor space and sponsorships will be assigned on a first come, first served basis.
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EntertainmentEntertainmentConvention



Golf - Monday, June 10 at 10:30 a.m.
After-Dinner Party & The Beadle Brothers Band - Tuesday, June 11 at 9:00 p.m.

The 2019 Annual Convention has various recreational activities to enjoy during your down time. Beginning on Monday, June 10 at 10:30 a.m., registrants can enjoy golf at  Kaluhyat Course   with an 11:00 a.m. shotgun start. If you are interested in attending, please be sure to  mark it on your registration form or exhibitor registration form

At the conclusion of Tuesday evening's  PAC Silent Auction  and dinner, attendees can enjoy  The Beadle Brothers Band  at 9:00 p.m. at the  Tin Rooster , located inside of Turning Stone. No additional sign-ups or fees are required to attend the show, as it is part of our After-Dinner Party on Tuesday evening.

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SpeakersConventionSpeakers

Anthony Burnett
Customer Experience Director
Level5

A 20-year veteran of helping companies grow and improve performance, Mr. Burnett, and his firm  LEVEL5  have partnered with hundreds of financial institutions across America to help them achieve their hopes and dreams. 

Their approach quantifies the business case for expansion, transformation, technology integration and consumer experience to generate revenue for their clients and optimize return on investment.

Mr. Burnett is a recognized thought leader in Branch and Main Office Transformation, and is a frequent speaker and author on the topics of Retail Banking, Branch Strategy, Omni-Channel Delivery, and the Future of Branch Banking. Read full bio.

Mr. Burnett will be presenting on Tuesday, June 11 at 2:50 p.m. with his presentation "Transformation, Transformation, Transformation, Is It Just The Branch?".



Preston Kennedy
ICBA Chairman &
President & CEO of Bank of Zachary

Preston L. Kennedy has served in many leadership roles for the  Independent Community Bankers of America (ICBA) , the only national trade association that exclusively represents community banks.

President and CEO of Bank of Zachary (La.), Kennedy served on ICBA's Executive Committee and Board of Directors as an At-Large Member and as Treasurer, ending his term in March 2016. 

He currently serves as the Chairman of the ICBA Federal Home Loan Bank Task Force, and as a member of the Nominations and Policy Development Committees. Kennedy served two terms as Louisiana's elected representative on the Federal Delegate Board. Read full bio.

Mr. Kennedy will be our keynote dinner speaker on Tuesday, June 11 at 7:15 p.m. 

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These Community Banks Are Registered - Are You?


Registrations are coming in fast for the 2019 Annual Convention! Several community banks from across the state have already registered. Looking to join them? Now is the time! Register as a participant or exhibitor to secure your spot. You can also get involved by becoming a sponsor or donating an item to the PAC Silent Auction. Don't wait! Download the brochure to register for one of the most exciting New York community banking events of the year!
IBANYS Education/WebinarsWebinars
  WebinarSchedule2019

The 2019 Webinar Calendar is now available! The Independent Bankers Association of NYS (IBANYS) partners with CBWN to bring you more than 150 webinars each year covering compliance, lending, regulations, security, operations, new accounts, collections, fraud, security and other topics. Even better, each time you purchase a webinar, you support IBANYS, because a portion of your registration comes directly to us. Thank you!  

You can view the 2019 Webinar Schedule here or by category here. In addition, CBWN has made some recent updates to provide better service to its consumers. Unfortunately, some changes may have caused you to miss important webinar announcements. Please read the IBANYS letter to view the updates and ensure that you do not miss another webinar.

NEW WEBINARS ADDED FOR 2019NEWWebinars19

CBWN has added more than 140 webinars to the IBANYS webinar calendar, covering all the essential topics. Start the new year off right by gaining the knowledge and tools to make 2019 the best year yet! 


CBWN and IBANYS thank you for your continued support of the education in the community banking industry. 

Government Relations
AlbanyAlbanyGR

  

12 Days Left in Legislative Session

After today, there are 12 more scheduled legislative session days left in the 2019 session, and three-and-a-half weeks until the scheduled adjournment on June 19. 

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Credit Union Municipal Deposits Bill On Move:
Urge Your Legislators To VOTE NO On A.3262 / S.6079 CreditUnionDepositsAlbGR

As President John Witkowski detailed in his President's Message above, legislation that would allow credit unions to enter the municipal deposits business is very much under consideration in Albany. IBANYS is working herd to inform members of the New York State Senate, Assembly and the Chairs of the Senate and Assembly Banks Committee of why this legislation would seriously impact community banks and the municipalities and customers they serve.
The bill (A.3262, Zebrowski/S.6079, Sanders) - would amend the general municipal law and the banking law, in relation to allowing credit unions, savings banks, savings and loan associations and federal savings associations to accept and secure deposits from municipal corporations.  Today, the State Senate Banks Committee met  and held the bill. Chairman Sanders indicated he is supportive of the legislation and the Committee will continue to work on it. The Assembly has not yet decided on a course of action.

IBANYS testified on this issue last week on behalf of New York's community banks at a Joint Hearing of the New York State Assembly Committees on Banks and Local Governments. IBANYS was represented by Chairman Tom Amell, President & CEO, Pioneer Bank; Industry consultant Lawrence Heilbronner-Kolthoff (who spent 21 years as CFO of Canandaigua National Bank and Trust Company, and serves as a Director); Kevin Klotzbach, EVP & Senior Financial Advisor of Five Star Bank, who also served as CFO and Treasurer, and IBANYS President & CEO John Witkowski.

Please write to your local State Senators & Members of Assembly - and, to the members of the State Assembly and State Senate Committees on Banks and Local Government. 
  • Share your own bank's perspective;
  • Urge them to vote no on this legislation; and
  • Explain the impact of allowing credit unions into the municipal deposits business would have on your bank and your community. 
You can access individual legislators and committee members at:

NYS Assembly                   NYS Senate



Other Legislative Activity
  • The Senate Banks Committee considered A.7604 (Buttenschon)/S.5411 (Sanders) to extend the current banking "wild card" law (scheduled to expire this September) until September 2024. It allows the State Department of Financial Services (DFS) to maintain the competitiveness and the viability of the New York State banking charter in relation to the federal charter. The Banks Committee also reviewed A.1935 (Zebrowski)/S.4188 (Kennedy) which would require financial institutions to notify a customer prior to charging a fee based on account inactivity.
     
  • The Senate Consumer Protection Committee is considering   A.5635A (DenDekker)/S.5575A (Thomas) to expand data breach notification requirements and include a limited exemption for banks that notify regarding breaches under federal law (the Gramm-Leach-Bliley Act) to avoid imposing duplicate obligations. The bill was amended to require notice to several state agencies if the breach involves at least 500 state residents, and has support in the Assembly. It was introduced at the request of the State Attorney General.   
  • Legislation A.7688 (Schimminger)/S.6165 (Sanders) has been introduced at the request of the Empire State Development Corp. It would remove the maximum limit on the amount of a single Excelsior Linked Deposit loan (currently $2 million) and increase the maximum amount a business can borrow to $5 million.



DFS Establishes New Cybersecurity DivisionDFSCybersecurityDivision

Justin Herring
Acting State Financial Services Superintendent Linda Lacewell announced that DFS 
has established a new  Cybersecurity Division - the first of its kind in the nation established by a banking or insurance regulator. It will focus on protecting the state's consumers and industries from digital threats;  work with the consumer protection and financial enforcement divisions to conduct cyber-related investigations; issue regulatory guidance; offer counsel; enforce the agency's cybersecurity regulations, and  send trends and threat information to the state's financial institutions about cyberattacks to help the industry prevent future breaches. 

" As technology changes the financial services industry, regulation must evolve, and DFS is evolving to meet the challenges and opportunities of the new landscape, to protect consumers, safeguard the industry, and encourage innovation," Lacewell said. The move comes more than two years after DFS promulgated the nation's first wide-reaching cybersecurity regulations to protect the state's financial services industry and consumers from digital vulnerabilities.  Executive Deputy Superintendent  Justin Herring, currently chief of the cyber-crimes unit of the U.S. Attorney's Office of New Jersey and a former member of the U.S. Attorney's Economic Crimes Unit, will lead the division. 



Lacewell Building Leadership Team At DFS

Linda Lacewell
As she awaits Senate confirmation, 
Acting DFS Superintendent Linda Lacewell continues
to build her senior leadership team at the Department of Financial Services. She has named the following additions to her staff:
  • Wendy Erdly, named to serve as the agency's chief of staff, worked most recently as special counsel for ethics risk, and compliance at the New York State Liquor Authority. 
  • Sumit Sud, most recently served as deputy chief special counsel for ethics, risk, and compliance across dozens of state agencies, was appointed as Lacewell's special counsel
  • Shaunik Panse, an associate at Sullivan & Cromwell, was appointed special counsel for ethics, risk, and compliance at the agency.
  • Gareth Rhodes, former deputy press secretary to Gov. Cuomo who lost a congressional primary last year to Rep. Delgado (D-Hudson Valley) will serve as Special Assistant to the Superintendent.
  • Raquel Gonzalez was named deputy chief of staff and chief diversity and inclusion officer.
  • Cheyenne Aguayo another former Cuomo assistant, will be the the Superintendent's Director of Scheduling.
     


Cuomo Planning To Seek A Fourth Term

In a radio interview, Gov. Cuomo, already the nation's longest-serving Governor,  confirmed he is planing to run for a fourth term in 2022. 

"I believe I'm doing good things... I believe I know how to do this and it gives me a personal sense of satisfaction to believe that at the end of the day, with all the nastiness in the world and all the politics in the world and the critics and the naysayers and the negativity, I know what I got done. And we have a lot going on now, and I would like to do it for as long as the people of the State of New York believe I am a positive."  Cuomo has started fundraising again, and has re-named his campaign committee to reflect a potential fourth-term campaign. 



Washington, D.C.WashingtonGR



Flood Insurance Re-Authorization Is Stalled


Congress has again failed to re-authorize the National Flood Insurance Program, which will expire May 31 pending Congressional action. The Senate passed a two-week extension, retroactive to May 31, before adjourning last week for a one-week recess, but most House members had already departed Washington. An attempt yesterday to bring up the extension in the Senate, sponsored by Sen. John Kennedy (R-LA) was objected to by Rep. Thomas Massie (R-Ken.), making reauthorization unlikely until the House returns next week. The FDIC issued a FIL in 2010 pertaining to a lapse in the NFIP.



IBANYS, ICBA Support Rep. Maloney's 
"Corporate Transparency Act"

Rep. Carolyn Maloney
When IBANYS was in Washington for congressional visits April 30, we met in Rep. Carolyn Maloney's (D-Manhattan) office on a number of issues, including legislation regarding "beneficial owners." Rep. Maloney is a senior member of the House Financial Services Committee. ICBA this week urged Congress to require companies to disclose their "beneficial owners" when they are formed. 

In a statement for today's Senate Banking Committee hearing on collecting beneficial ownership information, ICBA is demonstrating support for Rep. Maloney's "Corporate Transparency Act" (H.R. 2513). As IBANYS shared with Rep. Maloney, and as  ICBA noted, collecting this information for all legal-entity customers is a difficult and onerous task for banks. 

On the other hand, requiring businesses to provide this information to the Financial Crimes Enforcement Network would provide no additional burden on these companies over what they currently provide to banks under the existing Customer Due Diligence rule.  ICBA also provided its July 2018 white paper on modernizing anti-money-laundering and anti-terrorist-financing laws and regulations. As Congress debates Bank Secrecy Act reform, the white paper advocates updating currency transaction report and suspicious activity report thresholds, providing more current information to financial institutions, and creating a tax credit to offset the cost of the Bank Secrecy Act.



ICBA To Regulators: "Finish The Job" For Community Banks 
Begun By S.2155 

Rebeca Romero Rainey
On the one-year anniversary of the signing of the S. 2155 regulatory relief law, ICBA President and CEO Rebeca Romero Rainey is calling on federal regulators to "finish the job" for community banks. 

In her "American Banker" op-ed, Romero Rainey cited regulators' unfinished business on maximizing community bank relief from risk-based capital standards and the quarterly call report, noting:  "Let's finish the good work we started for the benefit of communities and consumers nationwide-Main Street is counting it." 

Industry Trends & Updates

Cyber Security Tips Newsletter Available

The NYS Office of Information Technology Services Chief Information Security Office (NYS ITS CISO) announced this month's Cyber Security Tips Newsletter is now available. This month's issue contains tips on the importance of securing your online accounts using Multi-Factor Authentication (MFA). The monthly newsletter, developed by the Multi-State Information Sharing and Analysis Center (MS-ISAC), is located on the ITS CISO website. The information provided in the Monthly Cyber Security Tips Newsletters is intended to increase the security awareness of an organization's end us ers and to help them behave in a more secure manner within their work environment. 

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Title Insurance Records Leaked


KrebsOnSecurity has reported that First American Financial Corp.'s website exposed 885 million documents related to the title insurance and settlement company's mortgage deals dating back to 2003. The digitized records included bank account numbers and statements, mortgage and tax records, Social Security numbers, wire transaction receipts, and drivers' license images, and were available (without authentication) to anyone with a Web browser.

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Consumers Confidence Up, Including On Jobs

Consumer confidence improved in May following an April increase, according to the Conference Board. The Consumer Confidence Indexrose to 134.1, up from 129.2 the month before on stronger assessments of current business and labor market conditions.
Meanwhile, The Conference Board yesterday released data showing 47.2% of consumers polled in May thought jobs are "plentiful" - up from 46.5% in April, and, according to Bespoke Investment Group, is the most confident consumers have been on the labor market since January 2001.  The percentage of c onsumers who thought jobs were "hard to get" declined to 10.9% from 13.3%. The data also showed that the consumer confidence index rose to 134.1 this month, which exceeded expectations.

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Growth In Home Prices Slows

Home price growth continued to slow in March, according to the Case-Shiller index. The national index reported a 3.7 percent annual gain, down from 3.9 percent the previous month due to affordability challenges.

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DFS Takes Possession Of Unsafe, Unsound Credit Union
 

State DFS Acting Superintendent Linda Lacewell has announced that the DFS took possession of the New York City based   Municipal Credit Union (MCU) due to  unsafe and unsound conditions. The Superintendent announced that DFS had appointed the National Credit Union Administration (NCUA) as conservator. 

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Two Top New York Fed Officials Leaving

Simon Potter (left) & Richard Dzina (right)

Two top New York Federal Reserve officials are leaving the central bank on June 1. They are Simon Potter, the head of the NY Fed's markets group - which actually sets the US central bank's interest rates and is its main eyes and ears in the financial world - and Richard Dzina, head of the NY Fed's financial services group.

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BondAcademy
The Bond Academy

Learn Bond Basics with your Peers!

When: October 21, 2019

Where: Embassy Suites
1022 S. Shady Grove Road
Memphis, TN  38120

The Bond Academy is designed to provide community bankers with the basic knowledge needed to help plan and create effective investment portfolios.
A high performance investment portfolio can provide a noticeable increase to your bank's bottom line. The learning objectives of Bond Academy are aimed at providing you with the tools to understand how debt instruments work and their overall role in complementing the entire balance sheet.

This all new curriculum has been specifically designed to equip a new portfolio manager with basic portfolio management issues. Specifically, fundamentals of bond pricing, valuation, and selection will be covered extensively.  You'll learn the basics of the bank portfolio investment process. There is also an opportunity to earn up to 12 CPE credits!

Who Should Attend?

CPAs and those new to their roles as investment officers, cashiers, controllers, and internal control professionals will benefit the most from Bond Academy. New directors serving on the investment or asset-liability committee will also find this course beneficial. No advance preparation is necessary.

You Will Learn:
  • Bond basics, including bond pricing, duration, and price volatility
  • Bond types, including agencies, municipals, mortgage securities, and floating rate instruments
  • The composition of a high performing portfolio
  • How to understand the rate market: yield curves, spreads, monetary policy
  • How economic data affects the bond market
  • The impact of interest rate risk on portfolio management
  • Portfolio strategies of laddering, barbells, riding the yield curve
  • Day-to-day portfolio management techniques
  • Evaluating investment portfolio performance
Fees:

  • ICBA Members - $595 / session
  • Nonmembers - $695 / session
  • Members & Non-Members: Save $150/session for each additional registration from your bank.




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Leveraging Customer Data for GrowthMainStreetLeveragingCustomerData


Main Street has prepared an article on " Leveraging Customer Data for Growth."  
A recent survey revealed that 57% of banks say internal silos are their biggest obstacles to big data success. Sharing customer data across departments and even across marketing channels can be challenging, but the benefits are worth it.   Your bank may not be leveraging retail customer data to its' full potential, but the good news is that it is a big opportunity ...and it can be easy to implement. 

Data has the power to drive customer acquisition, improve customer relationships, unlock new opportunities and increase profitability. Analytics provides the knowledge to empower your institution to drive retail customer growth. Read the full article.

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2019 Crowe/ICBA Bank Compensation & Benefits SurveyCroweICBASurvey

For more than 30 years, Crowe Horwath LLP has conducted a comprehensive annual  survey of compensation-related practices in the banking industry. This year, the survey report will provide salary and bonus benchmarks for 273 positions as well as information on benefits, incentives, director compensation, succession planning, and human resource practices. It will also allow you to benchmark your bank's compensation practices against those of other similar banks.
 
Participating in the 2019 survey is the first step to accessing valuable bank compensation benchmarks and trends across 273 jobs, including:

  • Salary trends and incentive payouts
  • Employee turnover and staffing levels
  • Benefit trends
  • Generations in banking
  • Board of directors' compensation
The survey results can help you address questions such as:
  • Are our employees being paid competitively?
  • What are banks planning for salary increases?
  • Is our executive compensation package competitive?
  • How do our director fees compare to others?
  • What can we do to control the costs of benefits?
  • How do our human resource programs compare with those of other banks? 
By completing the entire survey, you will receive access to exclusive thought leadership and a substantial discount off the retail price of the survey report. 

*Survey Closes May 31*


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New York Community Banks: Take The Survey!


Community bankers are encouraged to participate in a survey from state regulatory agencies and the Conference of State Bank Supervisors (CSBS) on a range of topics for research purposes. CSBS has begun the annual process of surveying community banks on their economic condition, regulatory impacts and business plan. The goal is to get a more accurate understanding of how bankers are feeling about the future and to help provide an important barometer of the state of the industry. Survey results will be presented during the Community Banking in the 21st Century Research and Policy Conference, slated for Oct. 1-2 in St. Louis. Responses are due June 30. 
 

Banking News

Further Your Education at Barret Graduate School of Banking BarretGradSchool


Barret and IBANYS are aligned with a common interest: to represent the interests of the industry through effective advocacy and high quality educational offerings.

Located in Memphis, TN, Barret Graduate School of Banking offers a comprehensive graduate learning program for professionals in the financial services field. IBANYS has established partnerships with key industry educators including the Barret Graduate School of Banking. The school provides community bankers with an opportunity for a graduate degree in banking. 

We are currently endorsed by ICBA, ICBA Securities, Arkansas Community Bankers, CBAofGA, Indiana Bankers Association, CBAofKS, MIBA, CBAofOH, CBAofWV - with a couple more on the way. 

To learn more about Barret Graduate School of Banking, please visit   www.barret.ws.

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Keep The Door Open For Your Small Business Customers

Excelsior Growth Fund (EGF) is NYBDC's nonprofit Community Development Financial Institution and IBANYS' exclusive online lending partner. Join the growing number of banks that work with EGF to offer their customers an affordable and responsible option when they do not qualify for traditional financing. EGF offers loans up to $500,000 with a convenient, digital process. Loans under $100,000 are disbursed within 5 business days.

 EGF's experienced team can work hand-in-hand with yours to develop a customized process to make referring seamless. To learn more about offering your customers a second look through EGF contact Bryan Doxford, SVP, at bryan.doxford@excelsiorgrowthfund.org at at (212) 430-4512.

Convention Spotlight of the WeekConventionSpotlightofWeek

Convention Sponsors

Federal Home Loan Bank of New York (FHLBNY)

The Federal Home Loan Bank of New York (FHLBNY) helps community lenders in New Jersey, New York, Puerto Rico and the U.S. Virgin Islands advance housing and community growth. The FHLBNY is part of the congressionally chartered, nationwide Federal Home Loan Bank System, which was created in 1932 to provide a flexible credit liquidity source for member community lenders engaged in home mortgage and neighborhood lending. The FHLBNY increases the availability of mortgages and home finance to families of all income levels by offering high-value correspondent and cash management services to assist our members in more effectively serving their neighborhoods and meeting their Community Reinvestment Act responsibilities. 

The mission of the Federal Home Loan Bank of New York is to advance housing opportunity and local community development by supporting members in serving their markets.  The FHLBNY meets our mission by providing our members with access to economical wholesale credit and assistance through our credit products, mortgage finance program, housing and community lending programs, and correspondent services to increase the availability of home finance to families of all incomes. Learn more.



Wolf & Company, P.C.

Wolf & Company is one of the top regional certified public accounting firms in the Northeast, New York and New Jersey. Building on our tradition of unparalleled guidance, we provide our clients with audit and assurance, tax, business consulting, risk management services, and  WolfPAC Integrated Risk Management┬«.




NYBDC


New York Business Development Corporation (NYBDC) promotes and advances the business prosperity and economic welfare of New York State by providing small business loans. Throughout its 60-year history, NYBDC has provided thousands of small businesses, including start-ups, mature businesses, and minority- and women-owned businesses, with access to loans when they do not meet the requirements for traditional financing. Learn more.



Strategic Resource Management

SRM (Strategic Resource Management) has been selected by more than 700 financial institutions to advise in areas such as payments, digital banking, core processing, and operational efficiencies. 

The company has unlocked billions of dollars in value and improved the competitive advantage of its clients with a reputation for industry-leading subject matter expertise, a proprietary benchmark database, and proven negotiating skills.

Their team of subject matter experts cover a broad list of critical areas including payments, digital banking, core processing, application of emerging technologies, and M&A. This expertise, combined with the firm's proprietary benchmark database and proven skills in areas like strategy development and negotiation, give SRM the ability to repeatedly add value to the bottom line of leading banks and credit unions. Learn more.



The Bonadio Group

Founded in 1978 and led by active, engaged partners, The Bonadio Group brings a passion and approach to our work that distinguishes us in our field. Each client assignment begins with the close attention of a senior partner, who continues to watch over and advise the relationship as it proceeds, to ensure we optimize the outcome of our services.

We are a nationally ranked, top 40 CPA firm that brings an integrated world of resources to every client, large or small. We have developed relationships with a diverse range of organizations - from private sector to public, tax-exempt to individual. And we are continually expanding our range of offerings and geographic footprint to ensure your growing needs are consistently met. Learn more.



COCC

COCC was created by a cooperative of financial institutions to deliver real banking technology. At COCC, we feel strongly that our carefully crafted mission statement, vision and corporate values are reflected in everything we do.

Our mission is to be a trusted partner, delivering secure, quality solutions that drive the success of financial institutions, while providing a challenging and rewarding workplace for our employees.Our vision is the hope that by embracing our business priorities and living our values, we will become the preferred technology provider in our industry.And our values are embraced company-wide and held up as a standard for quality in our industry.



Steuben Trust Company

On August 28, 1902, the Bank of Steuben was opened in the City of Hornellsville under the direction of then President, William Richardson, as a New York State chartered bank. Originally located in the former Babcock building on Main Street in Hornell, the Bank was built to accommodate the booming railroad village founded on the lumber, fur and farming industry of the region. This attention to regional industry and the communities served has stayed a primary focus to this day.

In 1914 the bank built its main office at 82 Main St. in Hornell, which the bank called home for the next 85 years. In 1920 the Bank of Steuben officially changed its name to, Steuben Trust Company as it began offering trust services.  Today, Steuben Trust Company, with assets over $550M, operates fifteen full service branches and one representative office across six counties in Western, NY and the Southern Tier. On September 17, 2018 Steuben Trust opened its doors at its first full service branch in Erie County in the Town of Clarence, NY. In addition to the Bank, Steuben Trust Company also operates Steuben Asset Management, for wealth management and trust services and Steuben Financial Services, a subsidiary offering insurance services. Learn more.




Accume Partners

Accume Partners is a trusted advisor that assists clients by delivering integrated Risk, Regulatory, and Cybersecurity solutions to help manage uncertainty and drive business value.  We focus on both emerging and established Financial Services, Commercial, and Education sectors.  We have over 25 years of experience, a local & national presence, and currently advise over 500 clients.

Accume Partners 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.
Learn more.



S.R. Snodgrass, P.C .

S.R. Snodgrass, P.C. was built on a strong foundation of stability, integrity, and high-quality customer service. 

Since 1946, their independent accounting and consulting firm has assisted clients in the ever-changing world by taking a consultative approach. S.R. Snodgrass, P.C. professionals provide vast expertise in the areas of auditing and assurance, internal audit and regulatory compliance outsourcing, information technology, consulting, enterprise risk management, and tax management. Learn more.



CEIS Review, Inc.

The CEIS Review mission is to be the preeminent provider of independent outsourced loan review, loan portfolio stress testing, ALLL methodology validation or refinement, as well as being a provider of related commercial credit management techniques to financial institutions worldwide. Their commitment is to commercial banks, savings banks, credit unions, foreign branches and agencies, multinational organizations and other firms requiring a third party assessment of loan portfolio quality and process. Learn more.



CloudBnq, Inc.


CloudBnq.com turns Community lenders into Digital lenders. CloudBnq.com is a loan origination solution that enables all lending product types with no upfront capital or IT investment, does not change the lending policies in place today & reduces the cost/time across all loan origination. Learn more.



Metropolitan Commercial Bank

H eadquartered in New York City, Metropolitan Commercial Bank is a full-service commercial bank with banking centers in Manhattan, Boro Park Brooklyn and Great Neck, Long Island.  The bank is known for its white glove personal service. 

Combining the relationship-driven banking experience you would expect of a community bank with an extensive suite of products and services. They not only have the capabilities and capacity to meet your needs, but also have the ability to craft highly innovative solutions to your precise challenges based on an intimate familiarity with your business. Metropolitan Commercial Bank professionals are prudent lenders who look beyond the simple numbers on a spreadsheet for the context to understand your needs and help you take advantage of the opportunities that you make happen. Learn more. 



Compliance Anchor


Owned and managed by community bankers for community bankers, ACBB/Compliance Anchor has been serving financial institutions since 1983. They provide correspondent services to over 300 shareholder banks in addition to many non-shareholder banks. From their full product and service lineup to banking expertise with a personal touch, they help their customers meet the needs of their communities. ACBB can satisfy the correspondent needs of community banks of all sizes, including regional financial institutions. Learn more.



Info Agora

Founded in 2004 by Grigoris Karakoulas, InfoAgora delivers innovative prescriptive analytics, RegTech (IFRS9/CECL/IRRBB/Basel III)  solutions and risk management consulting that have enabled their clients to proactively manage risk/reward in their portfolios and increase profitability.

As a thought leader and provider of leading-edge analytics solutions, the company empowers Financial Services companies with new capabilities to understand and predict customer behavior, measure and mitigate risk under different macro and micro scenarios, at both the customer and portfolio levels, in order to gain competitive advantage.  Each of their solutions leverages proprietary machine learning technology. Their breakthrough data preprocessing and modeling techniques deliver dynamic and robust models for predicting customer behavior, such as default, loss given default, prepayment, usage, attrition, and fraud. Learn more.


Sandler O'Neill

Sandler O'Neill + Partners, L.P. is a full-service investment banking firm and broker-dealer focused on the financial services sector. Their clients include a wide variety of financial firms nationwide, and increasingly, around the globe. Sandler O'Neill  provides the full suite of investment banking services, including merger and acquisition advisory, capital markets, fixed income and equity trading and sales, equity research, balance sheet management, mortgage finance, and consulting services to financial institutions and their investors.

Sandler O'Neill is a partnership and different by design. Since the firm's founding in 1988, its partners have sought to provide banks, thrifts and other financial services companies with an alternative to large Wall Street banking firms. Their focus has always been to enhance the franchise value of their clients. They provide clients a wealth of experience and knowledge more critical to them today than ever. Learn more.
IBANYS Spotlight Is On...


New York Business Development Corporation (NYBDC) promotes and advances the business prosperity and economic welfare of New York State by providing small business loans. Throughout its 60-year history, NYBDC has provided thousands of small businesses, including start-ups, mature businesses, and minority- and women-owned businesses, with access to loans when they do not meet the requirements for traditional financing. 

Together with affiliates Excelsior Growth Fund and The 504 Company, NYBDC offers small businesses access to suite of financing options that includes SBA 504, 7a and Community Advantage loans, as well as online alternative loans. 

For more information, contact the corporate office in Albany:

Phone: (518) 463-2268

You can also visit the website at www.nybdc.com.

*NYBDC also has regional offices in Binghamton, Buffalo, Melville (Long Island), Mount Kisco (Westchester), New York City, Rochester and Syracuse.

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:
HERE'S WHAT YOUR FELLOW NEW YORK
COMMUNITY BANKER SAYS. . .
"I wanted to let you know that some of our employees and I have been using "Teladoc" and it is one of the best things we have done for the bank. We all love it: We are saving time, avoiding waiting in an urgent care center or a doctor's waiting room for non-emergency related illnesses . . .and it is easy to use and convenient. Once you use it, you are hooked! This was a great find! Would recommend it to all banks."

Mario Martinez 
Chairman & CEO
Catskill Hudson Bank

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  curetheblue.com  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. www.icba.org 

Did You Know?


. . .that credit unions were originally established by Congress, and were granted a federal tax exemption because they existed "to serve those of modest means who share a common bond". . .
  • Today, many credit unions are virtually indistinguishable from taxpaying community banks. Credit unions have leveraged their taxpayer subsidy to aggressively grow.
  • Today, the credit union industry has become a $1 trillion industry. The larger credit unions have drifted far from their original mission, and outgrown their tax-exempt status. . .

As the credit union industry expands, it does so at the expense of all taxpayers.  Taxpayers can no longer afford to continue subsidizing the credit union industry.

 
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