October 17, 2018

In This Issue: 
Message From the President

By John Witkowski, President & CEO


As we reach mid-October and head toward the closing weeks of 2018, I would like to share with you important IBANYS updates and our plan for the future:
  • Our educational programming for 2018 has been a success, thanks to high attendance and engaging content. Our various meetings, conferences and annual convention have covered issues prevalent to the community banking industry, spoken by experts in the field. This has increased attendance and has attracted positive reviews from attendees. Our online webinars have also continued to be both informative and well attended. We plan on continuing this in 2019, and will be highlighting our calendar in the near future. Check out a preview of our 2019 meetings. 
  • Our government relations efforts this year produced solid results -- both in Albany and Washington. At the state level, we managed to defeat a major push by the credit union industry to gain entry into the public and municipal deposits business. At the federal level, we gained the most significant regulatory relief for community banks in years with the passage and signing of S.2155, "The Economic Growth, Regulatory Relief, and Consumer Protection Act." Neither of these achievements would have been possible without the active support and involvement of our member banks, and we cannot thank you enough. Looking at 2019, there may well be a new political landscape in Albany and Washington after the midterms. In any case, IBANYS will continue to represent and protect the interests of New York community banks.
  • IBANYS continues to grow. Our financial condition is sound, and has strengthened significantly over the past few years. We have added new member banks, associate members and preferred providers during the past year. We are committed to building on this strong foundation we have built as we work together to enhance and promote New York's community banks.
  • Our communications efforts have been positive through the various channels we use to position New York's community banking industry, our association and issues. These channels include the weekly e-newsletter, our quarterly magazine Banking New York, targeted email blasts, legislative and congressional outreach, IBANYS programming and committees and social media posts. We will continue to carry all of these efforts forward in 2019. 
  • We have re-energized our social media presence on Facebook, Twitter, Instagram and LinkedIn. This is an effective way to enhance our ability to keep membership fully informed and active on key issues and developments on a real-time basis. I encourage you to follow us on all four platforms in order to stay up-to-date with all IBANYS news.
  • Lastly, we continue to benefit from the willingness of outstanding industry leaders to step up and share their time and vision as our officers and directors. These are the people who continue to lead IBANYS forward into an even brighter future. I look forward to working with our new Chairman, Tom Amell of Pioneer Bank; Vice Chairman, Mike Wimer of Cattaraugus County Bank and Treasurer/Secretary Tom Carr of Elmira Savings Bank when their terms begin November 1. I also welcome our two new directors -- Theresa Phalon of North Country Savings Bank and Steve Woodard of Alden State Bank -- and look forward to the new and fresh ideas they will bring to the table. IBANYS' governance is in good hands.
Without the active participation of our member banks, these accomplishments wouldn't have been possible. A big thank you to all of our member banks, associate members, preferred providers, speakers and presenters, and the Independent Community Bankers of America (ICBA) for everything you have done in 2018, and all we will do together in the years to come.


Get Involved In IBANYS Government Relations Effort!

IBANYS member banks have played an important role over the past few years in our government relations efforts. Together, we have won significant victories in both Albany and Washington, D.C. 

At the state level, we successfully battled to win significant tax savings for New York community banks. In addition, we stopped the credit union industry's aggressive push to gain entry into public and municipal deposits as well as the State Business Development Program. We also met with legislative leadership, bank committee chairs and individual legislators. We also led a media effort through countless telephone calls, emails and visits, which made a significant difference.

In Washington, we worked closely with our partners at the Independent Community Bankers of America (ICBA) to gain the most significant regulatory relief since the enactment of Dodd Frank: the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155). We also traveled to Washington to meet with the New York Congressional Delegation on the hill on S. 2155 and countless other community banking initiatives.

Through these various actions and working together we have made real progress in both Albany and Washington D.C., advancing the community bank agenda, and defending against onerours regulatory and legislative proposals. But there is so much more to do, and the landscape may be changing dramatically. There may be a new dynamic in January with new challenges posed by a potential Democratic-controlled State Senate and/or U.S. House.

Your participation is needed now more than ever.

Please sign up to join our IBANYS Government Relations Committee. During the legislative session (January to June), there will be scheduled conference call meetings at 9:00 a.m. every Friday morning to discuss policy proposals important to our membership and industry, monitor developments at the state and federal levels and plan our agendas and responses to the issues of the day.

This is the perfect opportunity to make your voice heard in the political sphere. By taking part in our G.R. Committee activities, you are able to voice your ideas in an open and welcoming environment,  drive the policy debate and identify and promote issues vital to your bank and the community banking industry.

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 me at johnw@ibanys.net to join.

We also 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 me 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.


Get Ready For IBANYS' 2019 Meetings!

We are currently planning our educational conferences in various subjects. Returning to our calendar in 2019 are: 
  • Compliance Conference
  • Directors Conference
  • Human Resources Conference
  • Lending Conference
  • Security Conference
  • Banking Executive Symposium
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. You can preview when these meetings will be held on our website. In addition, we have also begun planning for our 2019 Annual Convention, which will be held June 10-12, 2019 at Turning Stone Resort & Casino. More information for the 2019 Annual Convention can be found in the Convention section of today's newsletter. 

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. 


As always, thank you for your support of IBANYS and all you do for community banking.

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

- John
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

2018 Annual ConventionConvention

Thank You!

Our 2018 Annual Convention at the Hilton Albany was a success and we can't thank everyone enough for attending and participating! Special thank you to our exhibitors, sponsors, donors to PAC, and speakers. We also would like to thank ICBA for their generous donation for our one mission growth to help support community banks in New York. Here is a quick recap of Convention events:

Tuesday, September 25:
  • People from across the U.S. gathered at the Hilton Albany to set-up their exhibitor booths, prepare their presentations, and network with individuals.  
  • Our Exhibitor Tradeshow opened and Mike Briggs, President & CEO of  USNY Bank & IBANYS Chair welcomed everyone.
  • Albany Historian Maeve McEneny-Johnson gave the keynote dinner speech and gave attendees insight into the local culture.
Wednesday, September 26:
  • Passing of the Gavel from Mike Briggs (President & CEO, USNY Bank) current Chairman of IBANYS' Board of Directors to incoming Chairman-elect Tom Amell (President & CEO, Pioneer Bank).  
  • Beginning of the educational component of our Convention with intriguing speakers such as Susan Powell Byrd, CEO of  Westover Strategy, Inc., Tina Giorgio, President & CEO of ICBA Bancard, Jeff Cardone & Ben Azoff, Esq., Partner,  Luse Gorman, P.C., among many others.
Thursday, September 27:
  • Lunch and closing remarks by John Witkowski, President & CEO of IBANYS

All of the  speaker's presentations are now available to view/download. We thank everyone for their continued support of IBANYS and believing in the power of community banking.


2019 Annual Convention




June 10-12, 2019


T urning Stone Resort & Casino
5218 Patrick Rd, Verona, NY 13478

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.

Buy any 2 webinars and get a coupon code for  1 FREE 
until Oct. 31. 

Here's how to get your free webinar:

Add two webinars to your cart. Before completing your order,  enter  "Send my free webinar code!"  in the  Comments box A coupon code for your free webinar will be  emailed to you within one business day. Webinar topics can be seen above.

(Not applicable for full Series orders)




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!


Presents a  Complimentary Recorded Webinar for
Our Valued Webinar Participants


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.



ICBA Securities and its exclusively endorsed broker/dealer, Vining Sparks, will present a webinar on October 16 exclusively for the state associations that endorse ICBA Securities, as well as all other community banks.  This is the seventh in the 2018 webinar series. 

This session will address the current merger and acquisition environment, the key factors that contribute to your bank's value and will provide an update on community bank access to the capital markets.

What You'll Learn:
  • Community bank value and performance remain very strong this year.
  • The prices paid in connection with community bank mergers and acquisitions have increased this year over previous years as have the number of deals.
  • We will discuss the relevant factors considered in valuing your bank.
The webinar will last approximately 1 hour. 

Government Relations


New York Joins Three Other States In Opposing IRS Plan 
To Prevent  Tax Cap "Workaround"

Barbara Underwood
New York State Attorney General Barbara Underwood has joined the attorneys general of California, Connecticut and New Jersey in fighting a proposed Internal Revenue Service rule aimed at preventing a workaround to the new cap on federal tax breaks for state and local taxes. Their efforts follow passage of last year's federal tax overhaul. The r
ates with residents hit by the change, including New York, have proposed to circumvent the new cap by having residents donate to state-run institutions and claim a charitable tax credit that is fully deductible at the federal level. The IRS wants to prevent that via the new rules. "The proposed rules would undermine state sovereignty by depriving state and local governments of the revenue necessary to sustain vital public services," the Attorneys General wrote to the federal tax collector last Thursday. "In addition, the proposed regulations would upset the status quo for the individuals, charities, and governments that have come to depend on existing programs." 


Election Day Is Less Than Three Weeks Away: 
Have You Contributed to NYSIBPAC?

This year's election is one of the most important in recent history for New York community banks. Control of the New York State Senate is very much up for grabs. Traditionally, the Senate -- under Republican control for most of the last half-century -- has provided a firewall for businesses, the financial services industry and particularly, for local independent community banks.  IBANYS' state political action committee, NYSIBPAC, works hard to determine candidates and incumbents for state offices -- including the NYS Legislature -- who understand the needs, priorities and challenges of New York's community banks. 
  • This is the year to make certain you support our efforts -- it could make all the difference going forward. 


Brand New Analysis On New York State Senate Races

Governor Cuomo will reportedly launch a $2 million TV and digital ad campaign to help "flip" control of the State Senate to the Democrats. A net gain of one seat by Democrats would put them in control of the chamber. 

Meanwhile, the latest City & State Political Report sees 29 safe Democratic senate seats, 1 likely Dem seat,  19 safe GOP seats, 5 "likely" GOP seats, 3 "leaning" GOP seats and four "toss-up" seats -- including the Long Island seat held by Senate Banks Chair Elaine Phillips. Read the latest full analysis. 

Washington, D.C.WashingtonGR

Latest Regulatory Developments. . .

With Congress out on recess until after Election Day, the focus has primarily switched to the regulatory front.
  • ICBA said it appreciates the Bureau of Consumer Financial Protection's reexamination of its policy allowing banks to propose experimental disclosure statements. Authorized under the Dodd-Frank Act and established in 2013, the policy is designed to encourage the creation of disclosures that educate consumers better and more efficiently.  However, ICBA noted the bureau has not approved a single trial program in the five years since the policy was finalized, and said the bureau's proposals to improve application response times, collaborate with other regulators, and allow multiple parties to participate in a single trial would improve the policy.  ICBA also called on the bureau to permit longer trial periods, allow companies to join previously approved trials, and provide community banks more explicit assurances against liability.
  • ICBA joined with other financial and consumer groups in urging the Bureau of Consumer Financial Protection to quickly write rules subjecting Property Assessed Clean Energy (PACE) loans to the same standards as other forms of consumer mortgage credit.  PACE loans allow homeowners to fund energy-efficiency upgrades through an assessment on their property tax bill, which by law gives them the same priority over a first-lien mortgage as tax payments. A joint letter noted PACE loans have developed outside the consumer-protection framework and are plagued by deceptive marketing and unaffordability.  The S. 2155 regulatory relief law requires the bureau to incorporate PACE loans into disclosure, ability-to-repay, and consumer-protection rules.
  • Bureau of Consumer Financial Protection Acting Director Mick Mulvaney said the bureau is looking to define what it considers to be "abusive" practices by companies that sell financial services -- specifically, in the context of unfair, deceptive or abusive acts or practices (Udaap). Companies have complained it is difficult to predict what would trigger an enforcement action because the Bureau's Udaap policy was too broad.
  • The federal deficit for the fiscal year that ended Sept. 30 was $779 billion, according to the Treasury Department. That is 17 percent higher than last year's $666 billion, and the largest annual deficit since fiscal year 2012. The increase is being attributed, at least partially, to higher government spending and flat tax revenues following December's tax cuts. 

Collins, McMurray In Near "Dead Heat" In 27th C.D.

Rep. Chris Collins (left) & Nate NcMurray (right)

According to a new Spectrum News/Siena College Poll, the race in the 27th Congressional District in Western New York appears to be nearly a dead heat between incumbent GOP Rep. Chris Collins, who has been indicted on insider trading charges, and his Democratic challenger Nate McMurray. Collins had  46 percent, and McMurray had 43 percent. Forty-nine percent of voters have an unfavorable opinion of Collins compared to 37 percent favorable. That stands in contrast to these numbers: Respondents said they prefer that Republicans keep control of the house by an 18-point margin, and President Trump's job approval rating is also plus-18. Favorable/unfavorable rating is also plus-18 --  "by far the best numbers for President Trump we've seen in a congressional district in New York," according to Poll spokesman Steve Greenberg.

Industry Trends & Updates

Latest On Housing & Homebuilding

According to Bloomberg Businessweek, in the 1990s and 2000s U.S. homebuilders put up houses by the millions. Today, even after six straight years of gains, single-family housing starts this year are running at only about half the pace of 2005, and rising interest rates appear likely to keep the pace from going much higher. The homeownership rate has bounced back to 64.3 percent of households (from 62.9 percent in 2016) but is well below 2004's record of 69.2 percent. Multifamily construction recovered more quickly after the recession; its share of overall residential building is generally higher than it's been since the apartment boom of the mid-1980s. In the 1970s through the early 1990s, about a third of new multifamily buildings had 20 or more units. In 2017, that was up to 83 percent.


Retail Sales Business Inventories Up

The U.S. Census Bureau reported that retail sales rose 0.1 percent in September and were up 4.7 percent from the same time last year. The August monthly increase was also 0.1 percent. The Census Bureau also said business inventories (a component of the gross domestic product) rose 0.5 percent in August, and were up 4.2 percent from a year ago.


The Latest On Consumer Confidence

The University of Michigan's monthly survey of consumers hit 99 in its preliminary reading for October, below the 100.4 expected from economists polled by Reuters. The index remained just below September's reading of 100.1. Within the survey, a key data point revealed growing bipartisan support for the government's economic policies.  American confidence in U.S. economic policy is at a 15-year high.  The overall index has slumped since March, when its highest level since 2004 reached a reading of 101.4. The survey considers 500 consumers' outlook on economic prospects, accounting for sentiment on personal finances, inflation, unemployment, government policies and interest rates.



October marks the beginning of Breast Cancer Awareness Month. 1 in 8 women will develop invasive breast cancer over their lifetime. That is why it is essential to highlight the importance of self-exams and going to the doctor each year. The statistics below illustrate  how prevalent the battle against breast cancer is: 
  • In 2018, an estimated 266,120 new cases of invasive breast cancer are expected to be diagnosed in women in the U.S., along with 63,960 new cases of non-invasive (in situ) breast cancer.
  • About 40,920 women in the U.S. are expected to die in 2018 from breast cancer, though death rates have been decreasing since 1989. Women under 50 have experienced larger decreases. These decreases are thought to be the result of treatment advances, earlier detection through screening, and increased awareness.
  • For women in the U.S., breast cancer death rates are higher than those for any other cancer, besides lung cancer.
  • As of January 2018, there are more than 3.1 million women with a history of breast cancer in the U.S. This includes women currently being treated and women who have finished treatment.

To learn how you can help or donate to research please visit  www.nationalbreastcancer.org.

Last Call For The Bond Academy

Learn Bond Basics with Your Peers

The Bond Academy, presented by ICBA Securities and Vining Sparks, 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.  

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'll learn the basics of the bank portfolio investment process. 

Dates: October 22-23, 2018 
Where: Embassy Suites of Memphis, TN

Members-$595, Non-members-$695

Room Cost:
*Save $150/session per additional registration from your bank*

CPE Credit:
Earn up to 12 hours of credit

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

Seminar Schedule

Monday, October 22          8:00 AM - 5:00 PM        Bond Academy
                                          6:00 PM - 9:00 PM        Dinner provided

Tuesday, October 23         8:00 AM - 12:00 PM      Bond Academy
                                          12:00 PM                       Depart

Cybersecurity Awareness MonthCyberAwarenessMonth

Cybersecurity Awareness Month Tips: Physically Protecting Your Devices

Every Thursday during October, IBANYS will post cyber security tips on our social media platforms. They can also be seen in our e-newsletter, the following Wednesday.

1. Password-protect your computer- Make sure that you have to enter a password to log in to your computer or mobile device. 


2. Keep your valuables with you at all times- When traveling, keep your device with you. Meal times are optimum times for thieves to check hotel rooms for unattended laptops. If you are attending a conference or trade show, be especially wary-these venues offer thieves a wider selection of devices that are likely to contain sensitive information, and the conference sessions offer more opportunities for thieves to access guest rooms.


3. Downplay your laptop or mobile device - There is no need to advertise to thieves that you have a laptop or mobile device. Avoid using your device in public areas, and consider non-traditional bags for carrying your laptop.


4. Be aware of your surroundings- If you do use your laptop or mobile device in a public area, pay attention to people around you. Take precautions to shield yourself from "shoulder surfers"-make sure that no one can see you type your passwords or see any sensitive information on your screen.


5. Consider an alarm or lock- Many companies sell alarms or locks that you can use to protect or secure your laptop. If you travel often or will be in a heavily populated area, you may want to consider investing in an alarm for your laptop bag or a lock to secure your laptop to a piece of furniture.


6. Back up your files- If your mobile device is stolen, it's bad enough that someone else may be able to access your information. To avoid losing all of the information, make backups of important information and store the backups in a separate location Not only will you still be able to access the information, but you'll be able to identify and report exactly what information is at risk.

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.


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. 


6 Steps to Help Clients Prepare for Loan Applications

Capital is critical when expanding a business, and one option your clients may consider for financing is a business loan. To help increase their chances of approval, we're sharing   six common issues we see in loan applications and steps to help your clients overcome them.

When Oneida Franco and Rick Diaz, of  Franco Blueprint, Inc. needed working capital to keep up with their rapid growth, they turned to EGF. Thanks to their preparedness, Oneida and Rick were quickly approved. Learn more about how an EGF loan allowed them to expand their marketing budget and hire new staff to help take on their business's increasing demand.

Spotlight Bank of the WeekSpotlightBank

Empire National Bank is a Long Island-based independent bank that specializes in serving the financial needs of small and medium sized businesses, professionals, nonprofit organizations, municipalities, real estate investors, and consumers.  The bank has four full-service banking offices located in Islandia, Shirley, Port Jefferson Station, Mineola as well as a private banking branch office in Manhattan. Our bankers take pride in understanding the needs of each customer so the bank can deliver the highest quality service with a sense of urgency. 

Empire National Bank's locations

Empire National Bank is pleased to have the opportunity to offer both the SBA 7A and 504 products so that customers are afforded additional financing solutions for business growth, machinery, equipment or commercial real estate acquisitions. Our SBA loan applications receive prompt, personal attention.

SBA 7A term loans offer flexible options and wide criteria for businesses that may not qualify for conventional lending, such as companies that have been in business as few as two years.

They offer amounts ranging from $50,000 to $5,000,000 so that borrowers can use the funds to:
  • Refinance existing business debt
  • Purchase or refinance existing real estate
  • Purchase inventory
  • Purchase machinery and equipment
  • Expand an existing business
  • Purchase a franchise
  • Obtain working capital
  • Acquire an existing business
Terms have maturities up to 25 years, which are fully amortized as well as a Loan to Value that can be as high as 90%. The benefits of a SBA 7A include: wide lending criteria; loans with higher LTVs; companies in business as few as two years; longer terms that conventional loans; lower monthly payments based upon longer amortizations, etc.

With a SBA 504 term loan, borrowers can purchase owner occupied commercial real estate or refinance owner occupied real estate with loan amounts up to $5,000,000. Terms include the commercial portion up to 25 years, with five (5) year interest rate resets; and the SBA portion to 25 years with a fixed interest rate. The Loan to Value has a maximum combined as high as 90%.

For more information or to apply for your SBA loan today, please call Phil Amico, SBA Specialist at 631-533-9940 or visit empirenb.com/SBA.

Phil Amico

Let's build together.

IBANYS Spotlight Is On...


The  SHAZAM  network is a member-owned electronic funds transfer (EFT) network providing choice and flexibility to community financial institutions across the United States since 1976. Shazam's mission is to strengthen community financial institutions by being their trusted partner providing answers, choice and innovation. They are committed to providing community financial institutions with memorable experiences that go beyond great customer service. Their clients are more than a name on a contact list - they're Shazam's partners. 

SHAZAM is a single source provider for the following services: debit card, core, fraud, ATM, marketing and more. Contact James P. Ghiglieri, Jr., Sr. Vice President at:  (309) 678-9021 or jghiglieri@shazam.net.

Or visit  SHAZAM.net  and follow @SHAZAMNETWORK.

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  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.

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Did You Know?

. . .That in the last mid-term election cycle in 2014, turnout of the voting-eligible population was just 36.4 percent , according to the projection from the United States Elections Project? That was down from 41 percent in the previous mid-term in 2010, and was the lowest overall in 70 years

Election Day is Tuesday, November November 6. On the ballot are: 
  • All 435 seats in the United States House of Representatives
  • 35 of the 100 seats in the United States Senate
  • All 63 seats in the New York State Senate 
  • All 150 seats in the Assembly 
  • Four statewide offices: Governor, Lt. Governor, State Comptroller and Attorney General.

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