November 28, 2018


In This Issue: 
Message From the President

By John Witkowski, President & CEO


As we approach the holiday season and final month of 2018, IBANYS is well underway with big plans for 2019. Our goal is to continue to provide real value to all of our members, with educational meetings & conferences, government relations updates, advocacy and more as we prepare for a very different political landscape.

The beginning of 2019 will be a transition period as the political dynamics will shift in both Albany and Washington, significantly affecting the community banking industry. New Democratic majorities will be seen in January, when the State Legislature and Congress convene, as well as Governor Cuomo giving his State of the State Address and Budget Presentation. The biggest changes will be seen within the New York State Senate and the U.S. House of Representatives as contrasting legislative agendas can potentially lead to political deadlock. In order to prepare,   IBANYS has recently mailed our outreach program to all member banks encouraging them to meet with the new members of the State Senate, State Assembly and New York Congressional Delegation. It includes:
  • Lists of the newly elected lawmakers (including the counties they represent) and
  • Talking points for use in your meetings, emails and phone calls to introduce yourselves and to help inform them about New York's community banks.
As the only state trade association in New York solely representing the interests of community banks, we are proud and thankful to be your advocates in both Albany and Washington. Join our government relations effort today by participating in our Government Relations Committee, participating in outreach efforts and scheduling meetings with elected officials. Your voice matters!

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IBANYS educational meetings and conferences are back! Beginning in March we will have various educational meetings and programs that cover a wide array of topics relevant to the community banking industry. These meetings are great not only for educational purposes, but also for networking with other organizations. Each conference also provides a chance to earn CPE (continuing professional education) credits. The following conferences will be held from March to May:
  • Compliance Conference
  • Directors Conference
  • Security Conference
  • Lending Conference
In addition, our Annual Convention will be held June 10-12, 2019 at Turning Stone Resort & Casino.

The meeting locations and dates are now available on our website and can also be reviewed below in today's newsletter. Keep an eye out for meeting materials and registration information that will be released in the future.

As always, thank you for your support of IBANYS and all that you do on behalf of New York community banks.

Remember: IBANYS is YOUR association. Make it work for you!

- John

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2018-19 IBANYS Dues Notices DuesNotice

2018 was a successful year for IBANYS, and we plan on making 2019 even better! There may be a few weeks left of 2018, but a new fiscal year has just begun at IBANYS effective November 1. As a result,  we have mailed membership dues renewal notices for November 1, 2018 - October 31, 2019. Included with the dues notice is an update on current IBANYS events and plans for the coming year. If you have any questions regarding your dues, please do not hesitate to contact me directly at  johnw@ibanys.net or 716-880-0518, or Linda Gregware at  lindag@ibanys.net or 518-436-4646.

We also have finalized our 2019 IBANYS Meetings Calendar, and we are excited about some changes we have made! The biggest involves our annual convention, which will now be held in June instead of the fall. 

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SocialMedia
Follow IBANYS On Social Media!

Have you found and followed IBANYS on social media yet? Connect with us today!


 

Facebook: @ibanys1 | Twitter: @ibanys1

Instagram: @ibanys1 | LinkedIn: @ibanys

Looking At 2019

Get Ready For Next Year's Convention!

 

SAVE THE DATE

When:

June 10-12, 2019


Where:

5218 Patrick Rd, Verona, NY 13478

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Get Ready for 2019 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:

Compliance Conference

                 March 12, 2019                                               March 13, 2019
                DoubleTree by Hilton                                                 Hilton Garden Inn
                1111 Jefferson Road                                                 235 Hoosick Street 
                Rochester, NY 14623                                                   Troy, NY 12180


Directors Conference

                   April 16, 2019                                                 April 17, 2019
           RIT Inn & Conference Cente                                  Hampton Inn Poughkeepsie
              5257 W.  Henrietta Road                                                  2361 South Rd.
                 Henrietta, NY 14467                                           Poughkeepsie, NY 12601


Security Conference

                   May 7, 2019                                                     May 8, 2019
           RIT Inn & Conference Center                                Hampton Inn Poughkeepsie
              5257 W. Henrietta Road                                              2361 South Rd.
                 Henrietta, NY 14467                                         Poughkeepsie, NY 12601


Lending Conference

May 21-22, 2019
Harbor Hotel Watkins Glen
16 North Franklin Street
Watkins Glen, NY 14891


Banking Executive Symposium

September 9-11, 2019
Location TBD


IBANYS' meetings provide insight into relevant issues spoken by experts in the field. They are also a great opportunity to network and earn CPE credits.

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 at lindag@ibanys.net or me at johnw@ibanys.net with your thoughts and/or comments. 

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It's Time to Double-Down On Your Involvement In IBANYS' 
Government Relations Efforts!

The political landscape in 2019 will be drastically different with a new Democratic majority in both the NYS Senate and the U.S. House of Representatives. In addition, new leadership will be placed in both chambers, including new chairs of the State Senate Banks and U.S. House Financial Services Committees. IBANYS will continue representing and protecting the interests of New York community banks, regardless of the political dynamic but we cannot do it alone. We need the active involvement and support of all New York community banks to bring a united, clear message to lawmakers about the importance of our industry to the state and local economies. IBANYS members: get involved in our Government Relations Committee!  With your participation, stay informed of legislative and regulatory activities/developments, and have full input as we formulate our positions and policies. It's the perfect opportunity to make your voice heard in the political sphere.

We also have additional committees and peer groups that would greatly benefit from your participation, including our Compliance Peer Group and our Security Committee. Learn more below. 

IBANYS CEOs: Sign up yourself, or designate someone from your senior team to represent your bank in these efforts!  Contact IBANYS' Government Relations Director Steve Rice at  stever@ibanys.net  or President/CEO John Witkowski at  johnw@ibanys.net  to join. NOW is the time!

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HearYourIdeas

In addition to our Government Relations Committee, we have other important committees and peer groups that would greatly benefit from your participation, such as our Compliance Peer Group, CFO/Senior Management Peer Group, and Innovation Committee. Please email  John Witkowski  or Linda Gregware for more information on these committees and how to sign up. 

IBANYS is always open to new ideas. If you have suggestions on other committees you'd like to see established, tell us! IBANYS is member driven and we work together to make the community banking industry better each day.


New Feature!
Spotlight Bank of the Week

Spotlight Bank of the Week is a new feature that we have added 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 natalier@ibanys.net.

IBANYS Education/WebinarsWebinars
IBANYS Webinars IBANYSWebinars


Are you participating in IBANYS' webinars? Your peers are! They provide timely, important information on subjects of interest to New York community bankers. They are valuable not only for their content, but for their convenience. Take part from the comfort and privacy of your office, 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.

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2019 Webinar Schedule  WebinarSchedule2019

The 2019 Webinar 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.

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

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VetterWebinar


Webinar:

Target Marketing - Activation at the Point of Excitement


Visit the Vetter webinar archives page to view/download recording and presentation materials from previous webinars:


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FREE WEBINAR: ICS & CDARS


What the New Law Means for Banks
Thanks to the newly signed regulatory relief bill, most reciprocal deposits are no longer brokered. This comes as banks face intense and increasing competition for deposits.

Join Us for a Webinar
Join Promontory Interfinancial Network-- the nation's leading provider and inventor of reciprocal deposit placement services-- for a free webinar that outlines key provisions of the new law and the impact ICS®, or Insured Cash Sweep®, and CDARS® can have on banks' balance sheets. The webinar will also cover how banks can use ICS and CDARS to capitalize on the opportunities at hand; presenters will discuss cost-effective ways to use the services to attract high-value relationships (even as deposit competition intensifies) and to lock-in more low-cost funding (even as interest rates continue to rise.) This webinar is a "must" for decision-makers at banks of all sizes, especially for community banks that utilize collateralized deposits and/or listing services.

Choose a date and time that works for you!


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Presents a  Complimentary Recorded Webinar for
Our Valued Webinar Participants

GDPR: WHAT IS IT & SHOULD YOUR
FINANCIAL INSTITUTION BE CONCERNED?

GDPR is a hot topic! The General Data Protection Regulation is the European Union's new data protection and privacy regulation that became effective May 25, 2018. Although these EU rules were developed a continent away, don't underestimate how they might affect you.

Privacy is a fundamental human right under the EU Charter. GDPR is intended to protect EU residents' data privacy rights even outside the EU. Mandatory compliance may be closer than you think. A few states have introduced similar legislation and others are following suit. This free webinar will explain how to analyze when and how your institution will be affected by GDPR, and how it differs from your existing privacy rules.

Click the image below to access this complimentary webinar.



This free webinar is available until December 31, 2018.

View full information , including info about the presenters.


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Reg relief makes most reciprocal deposits nonbrokered, providing banks the opportunity to attract even more deposits. Thanks to the newly signed regulatory relief bill, most reciprocal deposits are no longer brokered. This comes as banks face intense and increasing competition for deposits.

Join Promontory Interfinancial Network - the nation's leading provider and inventor of reciprocal deposit placement services - for a free webinar that outlines key provisions of the new law and the impact ICS®, Insured Cash Sweep®, and CDARS® can have on banks' balance sheets. The webinar will also cover how banks can use ICS and CDARS to capitalize on the opportunities at hand; presenters will discuss cost-effective ways to use the services to attract high-value relationships (even as deposit competition intensifies) and to lock-in more low-cost funding (even as interest rates continue to rise). This webinar is a "must" for decision-makers at banks of all sizes, especially for community banks that utilize collateralized deposits and/or listing services.

Numerous new banks are joining the Promontory Network. In order to give these newly on-boarded banks an opportunity to begin transacting, we have decided to extend this incentive program through March 31, 2019. 

Choose a date and time that works for you!


Government Relations
AlbanyAlbanyGR

 

The New York State Legislature will convene its 2019 legislative session the first week in January, when Governor Cuomo will deliver his 9th "State of the State Message" and will present his proposed 2019-20 state budget.

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Stewart-Cousins Is First Woman & Woman Of Color 
Elected NYS State Senate Majority Leader 

Andrea Stewart-Cousins
New York State Senate Democrats have elected Senator Andrea Stewart-Cousins (D-Yonkers) as Senate Majority Leader. When the Legislature convenes in January, she will succeed Senator John Flanagan (R-Suffolk County) as Majority Leader. (Flanagan has been elected by the GOP Conference as Senate Minority Leader.) She will also become the first woman - and first woman of color - to serve in that position. (Queens Democrat Malcolm Smith was the first African-American to serve as majority leader in 2009.) Upon her historic election, Stewart-Cousins stated: "I am honored to have the support of my Senate Democratic colleagues and thanks to them we will be shattering a glass ceiling in January. . .
New Yorkers have continually voted for a Senate Democratic majority, and finally they'll have it." She pledged to give New Yorkers the "progressive leadership they deserve." 

She continued noting " . . .We are looking forward to not only serving the people of New York, but doing it with the type of attention and integrity and intelligence they expect from us and deserve." Democrats will control 40 of the Senate's 63 seats come January.  Senator  Mike Gianaris (D-Queens) will serve as Deputy Majority Leader, and Senator Jose Serrano (D-Bronx) will be Conference Chairman. Stewart-Cousins is not expected to announce decisions on committee chairmanships and assignments for Democrats (including for the Banks Committee) until closer to or during a two-day Senate Democrats retreat in Albany mid-December. 

Stewart-Cousins was first elected to the State Senate in 2006 after serving in the Westchester County Legislature for a decade. She was chosen as Senate Minority Leader in 2013, and is now the first female majority leader in either chamber of the State Legislature.  Her election will end the so-called "three men in a room" (with the Governor and Assembly Speaker) who traditionally have negotiated the final agreements on budget matters and major legislation. 

On taxes, Stewart-Cousins was asked about the possibility of extending or expanding the so-called "millionaire's tax" due to expire in 2019. She said the Senate Democratic conference has not had a conversation on the issue, but "the general sense is that the taxes in place will certainly remain." She has previously noted that Senate Democrats have no plans to raise taxes, noting the federal tax reforms are likely to negatively affect many New Yorkers. "We are not coming in...to raise people's taxes. I'm personally concerned about the impact of this federal tax bill on the New York taxpayers, and I think most people in our position are."



Senate Leaders React to Stewart-Cousins' Election


Governor Cuomo stated: "Since the beginning of her career in public service, Leader Stewart-Cousins has always been a trailblazer. . .she is a proven leader and a skilled legislator. . .Today more than ever, we need people like Leader Stewart-Cousins to forge the path ahead for this great state. . ."

Assembly Speaker Heastie commented: "Congratulations to NY Senate Majority Leader Andrea S. Cousins on becoming the first woman to lead a majority caucus in the NYS Legislature! I can't wait to work with you to craft a progressive agenda that puts NY families first."

Senate GOP Leader Flanagan noted: " Andrea Stewart-Cousins is a good listener and a good leader. . .a class act and a truly extraordinary person, and I wish her well. . .We have many difficult challenges to address in the weeks and months ahead, but I believe we can work collectively, responsibly, and in a bipartisan way to move our Senate and our state forward.

Assembly GOP Leader Brian Kolb commented: "As we recognize this incredible moment and achievement, I wish Sen. Stewart-Cousins well as Senate Majority Leader and hope all parties will take a collaborative approach to addressing the many challenges facing our great state." Kolb (R-Canandaigua) was unanimously re-elected as Leader of the Assembly GOP Conference for the new legislative session.



Cuomo To New York Congressional Democrats: End Cap On SALT

Governor Cuomo
Gov. Cuomo has urged Democrats in the New York Congressional delegation to push for an end to the $10,000 cap on state and local taxes (SALT). The Governor has strongly criticized the Trump administration and GOP-controlled Congress for the cap on state and local tax deductions, which impacts high-tax states like New York. 
A mechanism for working around the cap, essentially creating charitable organizations on the local level, is being reviewed by the Internal Revenue Service. 

With the victory in the 27th C.D. finalized this week by Republican Rep. Chris Collins (Western New York), there will be 20 Democrats and 7 Republicans in the 27-member House delegation as of January - down from the 18-9 ratio Democrats enjoyed in the last Congress. Meanwhile, the Governor again refuted speculation he may run for president in 2020: " I ran for governor, I have a full plate, I have many projects - I'm going to be here doing the job of governor."



New York State State Senator José Peralta Passed Away 

José Peralta

New York State Senator José Peralta (D-Queens) passed away last Wednesday. The 47-year-old Democrat had represented the 13th Senate District in Queens, but was defeated in a Democratic primary this fall by Jessica Ramos. He  was elected in March 2010, and was the first Dominican-American elected to the State Senate.
 

Washington, D.C.WashingtonGR


Congress returns to Washington this week. There are 25 days until the deadline to avoid a partial government shutdown, and only 12 legislative days days until Dec. 7 when funding runs out for a large part of the federal government. 

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Kraninger Awaits Confirmation To Lead CFPB

Kathy Kraninger
The U.S. Senate is still scheduled to vote this week on President Trump's nomination of Kathy Kraninger as Director of the Consumer Financial Protection Bureau. ICBA President and CEO Rebeca Romero Rainey noted Kraninger understands the critical role that community banks serve in providing access to credit and supporting local prosperity. 

Once confirmed, Kraninger will become the first permanent director of the CFPB since former Director Richard Cordray left last year. Office of Management and Budget (OMB) Director Mick Mulvaney has been serving as Acting Director in the interim.



Bowman Sworn In As Fed Governor

Michelle "Miki" Bowman has been  sworn in  as a member of Federal Reserve's Board of Governors -- the first person to fill the Fed's community banking seat instituted by Congress in 2015. (ICBA and IBANYS had strongly advocated for the creation of the seat.)  Bowman has served as Kansas state bank commissioner and as vice president of Farmers & Drovers Bank in Council Grove, Kansas. She also worked for former Kansas GOP Sen. Bob Dole, the House Committee on Transportation and Infrastructure, the House Committee on Oversight and Government Reform, the Federal Emergency Management Agency, and the Department of Homeland Security.



ICBA To OCC: Don't Exclude De Novos

ICBA has informed the OCC it supports expanding flexibility for federal saving associations, but is concerned about a provision of proposed OCC eligibility rule. 

The proposal would implement an ICBA-advocated provision of the S. 2155 regulatory relief law allowing federal savings associations with $20 billion or less in assets to operate with the same rights as a national bank without applying for a national bank charter.  ICBA is concerned about the OCC's plan to provide eligibility to those with $20 billion or less as of Dec. 31, 2017. In its comment letter, ICBA said Congress did not intend to limit the ability of de novo federal savings associations to take advantage of this policy. ICBA asked the OCC to reconsider this provision.



Feds: Exam Relief Guidance On Way

Federal financial regulators said they support risk-focused examinations and pledged to issue examiner guidance if needed. As part of their Examination Modernization Project, the agencies said they have developed risk-tailoring principles and are working to institute those practices among examiners. Read the press release from the Federal Financial Institutions Examination Council (FFIEC). 




Jeffries Elected To House Leadership

Rep. Hakeem Jeffries
A member of the New York Congressional Delegation was elected to the House Democratic leadership team today. Rep. Hakeem Jeffries (D-Queens) was elected Chairman of the House Democratic Caucus,
the No. 5 leadership post . Jeffries replaces fellow New York Rep. Joseph Crowley (D-Queens), who was defeated in a primary in June by Representative-Elect Alexandria Ocasio-Cortez (D-Queens). Rep. Jeffries has been in Congress for only six years and is often mentioned as a future party leader, perhaps even a future Speaker.




Pelosi Nominated For Speaker of the House

Nancy Pelosi won support from Democrats by a vote of 203-32, and will be nominated for  Speaker of the House - the position she held from 2007-11 on January 3. However, a group of Democrats continue to oppose her for the job - and one of its leaders is Rep. Kathleen Rice (D-Long Island).

Industry Trends & Updates


EGF: 3 Client Success Stories
 
When banks partner with Excelsior Growth Fund (EGF), everyone wins. As a U.S. Treasury-certified Community Development Financial Institution (CDFI), EGF offers responsible and affordable financing options to small businesses.  By partnering with EGF, banks not only help their clients access capital, they also connect them to all the business services and support they need to become eligible for traditional financing in the future. 

Clients receive the funding they need to grow their business and banks get to help their clients succeed while keeping the door open with them for the future.  EGF values the critical role that their banker partnerships play in their mission. With the support of those partners, they're able to help small businesses and strengthen communities. To show their thanks and demonstrate the power of partnerships, EGF is sharing three success stories that were made possible by their banking partners.

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"Neo Banks" Posing New Challenges To Big Banks

The New York Times notes that there is a new wave of "alternative banks" challenging the big banks. Venture capitalists are pouring money into American start-ups that are offering basic banking services - known as neo-banks or challenger banks. So far in 2018, American neo-banks have gotten four times as much funding as they did last year, and 10 times as much funding as they did in 2015, according to data from CB Insights.  Big players from outside the consumer banking industry, like Square and Goldman Sachs, are also moving in. The consulting firm CG42 said in a recent report that it expected the 10 largest banks would lose $159 billion in deposits to smaller competitors over the next year. Read the full article. 
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ICBA Securities' Reber: "Put Unrealized Losses To Good Use"

Jim Reber
This just in: community bank investment portfolios have lost value in 2018. The rest of this column contains good news. At least, it does for those community bank portfolio managers who are interested in improving future earnings, creating a more diversified collection of bonds, tweaking their risk profile and, yes, deferring income. I hope that includes you.
 
Before we get into the numbers, and at the risk of being Master of the Obvious, I want to mention that all of the decline in value this year is for the purest of reasons: rising interest rates.  In the recent past (i.e. the last decade), there have been certain securities whose prices had plummeted because either credit quality had deteriorated or spreads had widened. Two of the more notable examples of this are the cratering of Fannie Mae/Freddie Mac Preferred Stock in the aftermath of their being placed in receivership in 2008, and a couple of episodes of disruption in the muni market. Does Meredith Whitney on "60 Minutes"ring a bell?  Read the full article.

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Fed Chairman Powell:  Interest Rate Near "Neutral Level"

Jerome Powell
In remarks today, Federal Reserve Chairman Jerome Powell said he considers the Fed's benchmark interest rate to be near a neutral level - an important distinction from remarks he made less than two months ago. He also indicated the Federal Open Market Committee, which sets interest rates, does not have a predetermined idea for where rates should be but will make policy decisions based on developing economic and financial conditions.

The Federal Reserve also issued a cautionary note today about risks to financial stability, noting that trade tensions, geopolitical uncertainty and a buildup in corporate debt among firms with weak balance sheets pose strong threats.In a lengthy first-time report on the banking system and corporate and business debt, the Fed warned of "generally elevated" asset prices that "appear high relative to their historical ranges." The Fed further noted its' own rate hikes could also pose a threat.

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Economic Updates:

Latest on Mortgages, Home Prices & Consumer Confidence

According to the data released last Thursday by Freddie Mac, mortgage rates experienced the biggest one-week drop in almost four years:  

  • The 30-year fixed rate has fallen to its lowest level in seven weeks.
  • The 15-year fixed rate average dropped to 4.24 percent with an average 0.5 point. It was 4.36 percent a week ago and 3.32 percent a year ago.
  • The 5-year adjustable rate average fell to 4.09 percent with an average 0.3 point. It was 4.14 percent a week ago and 3.22 percent a year ago.
Meanwhile, according to the  Mortgage Bankers Association,  mortgage applications were flat . The market composite index (a measure of total loan application volume) declined 0.1 percent from a week earlier. 
  • The refinance index fell 5 percent from the previous week to its lowest level since December 2000. The refinance share of mortgage activity accounted for 38.5 percent of all applications.
  • The purchase index rose 3 percent.

As for new home sales, they are down both in the Northeast and nationally.  The U.S. Commerce Department reported that new home sales dropped 8.9 percent to a seasonally adjusted annual rate of 544,000 units in October - the lowest level since March 2016. The percent drop was the biggest since December 2017. New home sales, which account for about 9.4 percent of housing market sales, have now dropped in four of the last six months. Sales of new U.S. single-family homes tumbled to a more than 2½-year low in October with sharp declines in all four regions. They fell 18.5 percent in the Northeast to their lowest level since September 2015. The 30-year fixed mortgage rate is currently at 4.81 percent, not far from a seven-year high of 4.94 percent, according to data from mortgage finance agency Freddie Mac.

According to the Case-Shiller indices, gains in home prices continued to slow in September . The annual increase in the national index declined to 5.5 percent, the second monthly decline and the lowest rate since January 2017. Separately, the Conference Board's  Consumer Confidence Index  dipped in November but remained at a historically strong level. 

Federal Reserve Vice Chairman Richard Clarida hinted at another rate increase in December, but mentioned subdued inflation measures that could give the Fed the option to slow or stop its quarterly rate increases in 2019. 

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Fintechs Have An Unfair Advantage VetterFintech

By Bryan Adler, CEO of Vetter

Fintech companies undeniably have a big advantage over community financial  institutions (CFIs), particularly in lending, payments, and wealth management.  In the last few years, they have established powerful competitive forces to  banks and credit unions because they are able to use loopholes in regulations,  compliance, and routine audits due to the nature of their new industry.

Essentially, these fintechs are glossy front-ends with enhanced user
experiences, leaving the hard regulatory restrictions and data collection costs  to the banks. It's a term called regulatory arbitrage and they've seemed to have  mastered the model pretty well. Read the full article.


Vetter is a digital loan platform built specifically for community banks, in partnership with a couple of NYS banks. The Vetter platform is a combination of a loan-type agnostic online loan application along with a management workspace that allows the bank to generate fee income on all loans, collect updated financials from borrowers automatically, enhance the customer experience and stay compliant.

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. 

Spotlight Bank of the WeekSpotlightBank


USNY Bank is an independently-owned, commercial bank chartered by New York State and headquartered in Geneva, NY. The bank operates two full-service banking units. Bank of the Finger Lakes with offices at 389 Hamilton Street in Geneva, NY and 100 Main Street in Penn Yan, NY and Bank of Cooperstown with offices at 73 Chestnut Street in Cooperstown, NY and 34 Main Street in Oneonta, NY. USNY Bank currently has total assets of approximately $380 million.

Cooperstown, NY Branch

The idea to form a new bank in Cooperstown began with the family of Robert O'Neill in early 2006. O'Neill contacted the late Robert Ranger and Mike Briggs, current USNY President & CEO, to become the original founders of the de novo bank. O'Neill and Ranger were both honored as Director Emeritus for their efforts on behalf of the bank.

Geneva, NY Branch

The original bank charter was approved in March 2007 and the bank received FDIC approval to open its first branch in Geneva. The Cooperstown branch opened in December 2007, the Oneonta branch in September 2014, and the fourth branch opened in Penn Yan in June 2017. Upstate New York Bancorp, Inc. was created on July 1, 2016 as the holding company for USNY Bank. 

Oneonta, NY Branch (left) & Penn Yan, NY Branch (right)

The Bank is both an SBA Preferred Lender and FSA Preferred Lender, specializing in providing banking services for small and mid-sized businesses, agribusinesses, farms and wineries; in addition to providing retail lending services to local consumers.
USNY Bank has received recognition for its financial performance by various bank industry firms. The bank has experienced consistent growth in total assets and net income since its inception. 

President & CEO Mike Briggs added, "We're very pleased to have been listed among the top performing banks in the country. This just didn't happen. It's a testament to the high-quality customer service consistently delivered by our employees; the commitment of our directors, community board members and management; the investment by our shareholders; plus the loyalty of our bank customers. USNY Bank remains committed to reinvesting local deposits back into the communities we serve. We're here to serve our customers and make positive contributions to the local economy. We make loans that help support local businesses and farms to help them grow. And that supports helps everyone. It's what we mean when we say What Starts Here, Stays Here. When people bank with us, they know that the money stays right here."

Briggs is also the Immediate Past Chairman of IBANYS, current Chairman of Atlantic Community Bankers Bank, and Atlantic Community Bancshares, Inc.

For more information, please visit 
www.usnybank.com .


IBANYS Spotlight Is On...








For more than 40 years,  the Brown name has been synonymous with excellent customer service in Upstate New York. They pride themselves on their ability to handle your bank security needs quickly and accurately, each and every time. What does this philosophy really mean for you?

Their dedication to superior service translates into less hassle, more efficient security solutions and the peace of mind that comes with knowing your operation will be well protected - when it matters most. Brown Security Solutions, LLC has been a leader in the Electronic and Physical Equipment Security field for more than four decades across New York State.

Sampling of Services Offered:

  • Electronic & Physical Security Products
  • Special Projects
  • Service Contracts
  • Burglar/Fire Protection
  • Surveillance
  • Card Access Control
  • ATM & TCR Sales and Service
  • Vault & Safe Sales and Service
For more information visit the website at www.brownsecuritysolutions.com or contact Don Musielak at:

Phone: (716) 648-6012

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 a game-changing moment in modern banking occurred on Sept. 2, 1969 when the first automated teller machine (ATM) in the United States was installed at a Chemical Bank in Rockville Center, New York in Nassau County, Long Island. "Online banking" was first introduced in the early 1980s in New York by Citibank, Chase Bank, Chemical Bank and Manufacturers Hanover.

 
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