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Message From the President
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By John Witkowski, President & CEO
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2018 Annual Convention Ends; Thank You!
Our 2018 Annual Convention came to a close last Thursday and from everyone at IBANYS,
THANK YOU! Thank you to participants, community bankers, exhibitors, sponsors and speakers.
The convention was a success and it couldn't have been possible without your help and participation. With the end of the convention, there a just a few things to keep in mind.
Be on the lookout for CPE certificates in the mail, as they were sent out on Monday. Speaker presentations are also available on our website for your viewing. In the next coming days we will also release pictures from the convention, as well as a thank you video. Don't miss a thing! Keep checking our website and social media platforms to stay up-to-date with us. Again, we thank everyone who attended and helped with our Convention. We hope that you found the conference engaging, insightful and entertaining, and we hope to see you next year! Catch a preview of where our 2019 Annual Convention in the Convention section of today's newsletter.
A Strong Foundation For An Even Brighter Future
After our annual convention last week, IBANYS now looks to the final quarter of 2018, including the installation of our newly elected officers and directors for 2018-19. We are fortunate to have outstanding industry leaders Tom Amell of Pioneer Bank, Mike Wimer of Cattaraugus County Bank and Tom Carr of Elmira Savings Bank commit their time, expertise and vision to guide our association into the future. Together with outgoing Chairman Mike Briggs of USNY Bank, they will lead our Executive Committee.
In addition, we welcome two new board members: Theresa Phalon, President & CEO of North Country Savings Bank and Steven Woodard, President & CEO of Alden State Bank. We are excited to have them as part of our 2018-19 Board of Directors and bring fresh ideas to the table.
I know I speak for our membership when I thank Mike Briggs for all he has done to enhance community banking in New York State and build our association into the economically sound, politically effective, member-driven trade group it is today -- dedicated to protecting and advancing the interests of community banks.
In the four-and-a-half years that I've served as IBANYS' President and CEO, it
has been my privilege to work closely with IBANYS Chairmen Dave Nasca of Evans Bank, Chris Dowd of Ballston Spa National Bank, John Buhrmaster of First National Bank of Scotia, Doug Manditch of Empire National Bank and Mike Briggs. Each provided the leadership and dedication to help make IBANYS one of the nation's leading state associations representing and fighting for community banks. Tom Amell is eager to pick up that mantle and help us reach even greater heights in the future.
Without the participation and engagement of our member banks, associate members, preferred partners and staff, we could not have achieved what we have over these past years. Thank you for your active support and participation as we continue to enhance and promote community banking.
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Don't Miss This Fun Weekend -- For Great Causes!
On behalf of Buffalo Bills Alumni Foundation President, Booker Edgerson, I want to make sure that you are aware of the following dates for the annual Buffalo Bills Alumni Weekend of Events.
P
lease mark your calendars now and be a part of this outstanding fundraising event that benefits so many charitable organizations in the Western New York area.
Here are the dates for Alumni Weekend:
- Friday, October 5 - Alumni Foundation VIP Gala
- Saturday, October 6 - Alumni Charity Celebrity Golf Classic
- Sunday, October 7 - Bills vs. Titans
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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
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Follow IBANYS On Social Media!
Have you found and followed IBANYS on social media yet? Connect with us today!
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2018 Annual Convention
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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 last week's 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.
- Had an interesting and thought-provoking panel discussion on "Investigating & Preventing Employee Misconduct: Cybersecurity to Fraud" with Charles S. Amodio (CPA, Partner) of Ferraro, Amodio & Zarecki CPA's as the moderator. Panelists consisted of: Tom Fallati (Partner, Tabner, Ryan & Keniry), John Flory (Partner/VP, TAG Solutions), Teresa Goodwin (Manager of Background Investigation, Alliance Worldwide Investigative Group) and Paul Zarecki (Forensic Accountant, Ferraro, Amodio & Zarecki CPA's).
- 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.
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2019 Annual Convention
SAVE THE DATE
When:
June 10-12, 2019
Where:
Turning Stone Resort & Casino
5218 Patrick Rd, Verona, NY 13478
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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!
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IBANYS Education/Webinars
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IBANYS Webinars
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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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.
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M&A and Community Bank Valuation Update
When: October 16, 2018
Time: 10:00 a.m. CDT
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 and is designed for those working as CEOs, CFOs, investment managers, bank directors, and anyone responsible for investment portfolio management. The speaker will be Tom Mecredy, Senior Vice President, Vining Sparks Community Bank Advisory Group. T
here is no cost for Vining Sparks customers orcommunity bank members and prospects.
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Siena Poll: Good News For Democratic Statewide Candidates
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| Governor Cuomo |
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With just over a month to go before the election,
a new Siena College poll shows
Governor Cuomo leads his Republican challenger, Dutchess County Executive Marc Molinaro,
50% to 28% among likely voters. Four minor party candidates -- including Cynthia Nixon, who lost a Democratic primary race to Cuomo, split 14% of the vote.
In a two-person race, Cuomo leads Molinaro
56% to 38%.
56% of those surveyed did not know who Molinaro is.
Just 41% believe Cuomo is doing an excellent or good job, while 58% say he's doing a fair or poor job.
Cuomo leads by 61 points in New York City and 24 points in the suburbs,
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Sen. Kirsten Gillibrand
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where Molinaro is a county executive.
U.S. Sen. Kirsten Gillibrand, seeking reelection to a second full six-year term leads Republican challenger Chele Chiavacci Farley by a 60% to
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Letitia "Tish" James
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29% margin.
Democratic State Controller Thomas DiNapoli leads his GOP challenger Jonathan Trichter by 58% to 26% margin; more than 60% do not know DiNapoli, and nearly 90% don't know Trichter.
Democratic candidate for New York State Attorney General, New York City Public Advocate Letitia "Tish" James, is well positioned to win election.
James polled at 50 percent of the vote in a head-to-head race against Republican candidate Keith Wofford, who is at 36 percent. 14 percent of likely voters were undecided a month before Election Day. James leads by a commanding 63 points in New York City. She leads by seven points in the downstate suburbs and Wofford leads by seven points upstate.
- Meanwhile, in state legislative political news, New York State Senator Dave Valesky (D-Syracuse) announced he will not mount an active campaign as an independent candidate. Senator Valesky, a member of the former State Senate Independent Democratic Conference, lost a primary last month Rachel May but remained on the ballot. Six of the eight former members of the now-dissolved IDC lost their primary bids. Meanwhile, Governor Cuomo, campaigning to elect a Democratic State Senate next month, noted: "This is not a blue wave, my friends. This is a red, white and blue wave," Cuomo said. "We have to do it with the Congress and the Senate. . ."
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.
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Washington, D.C.
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House Passes "Tax Reform 2.0"
The House has passed legislation to permanently extend the lower individual tax rates included in the tax reform law signed late last year. Known as "Tax Reform 2.0," the package of bills would lock in lower rates set to expire at the end of 2025. In addition to cutting the top C-corp rate, the ICBA-supported Tax Cuts and Jobs Act of 2017 reduced the individual rates affecting Subchapter S banks. The legislation is not expected to be taken up by the Senate, however.
Senate Banking Hearing On Implementing S.2155
The Independent Community Bankers of America (ICBA) called on regulators to quickly implement provisions of the ICBA-advocated Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155), including simpler capital rules and short-form call reports for community banks. In a
statement released by ICBA, ICBA thanked regulators for their prompt efforts to date on providing rules and guidance on the pro-growth law while noting that community banks eagerly await needed rules on remaining issues.
Tuesday's hearing featured testimony from FDIC Chairman McWilliams, Comptroller of the Currency Otting, Fed Vice Chairman for Supervision Quarles and National Credit Union Administration Chairman McWatters.
ICBA noted additional action is required on several key provisions of S.2155. ICBA President and CEO Rebeca Romero Rainey said: "Providing highly capitalized community banks with relief from onerous capital rules and excessive reporting requirements will make a positive difference for local consumers and small businesses."
S. 2155 included a provision exempting well-capitalized community banks with less than $10 billion in assets from all risk-based capital requirements, including Basel III and its predecessors. It also requires regulators to create a short form call report for banks with assets of less than $5 billion to be filed in the first and third quarters of each year-a top ICBA priority for many years.
Fed's Powell: Economy In Remarkably Positive Period
Federal Reserve Chair Jerome Powell reiterated the Fed's predictions that the current state of low unemployment will not lead to a rise in inflation. In remarks this week, he noted the U.S. economy is in a "remarkably positive" and "historically rare" period. He added that the Fed is prepared to use "the tools we used in the financial crisis" in the event of an economic downturn.
Latest On Community Banks Small Business Lending
 Community banks are more prolific small-business lenders than previously reported, according to a new FDIC report. The agency survey found that community bank small-business lending was understated by at least 29 percent in 2015 because many commercial-and-industrial loans are above the loan-size limit of $1 million.
The survey also found that while community banks are relationship-based small-business lenders, large banks rely on transaction-based methods. It noted that community banks are more likely to define their small-business-lending trade areas locally and to focus on community involvement and personal attention.
The survey was previewed at last fall's FDIC Advisory Committee on Community Banking meeting and covered in ICBA's Independent Banker magazine earlier this year.
Many Congressional Races In New York Are Viewed As Competitive
- The 1st C.D. (GOP incumbent Lee Zeldin vs. Democratic challenger Perry Gershon;
- The 2nd C.D., (GOP incumbent Peter King vs. Democratic challenger Liuba Grechen Shirley;
- The 11th C.D. (GOP incumbent Dan Donovan vs. Democratic challenger Max Rose);
- 18th C.D. (Democratic incumbent Sean P. Maloney vs. GOP challenger James O'Donnell;
- The 19th C.D. (GOP incumbent John Democratic vs. Democratic challenger Antonio Delgado);
- The 22nd C.D. (GOP incumbent Claudia Tenney vs. Democratic challenger Anthony Brindisi);
- The 23rd C.D. (GOP incumbent Tom Reed vs. Democratic challenger Tracy Mitrano;
- 24th C.D. (GOP incumbent John Katko vs. Democratic challenger Dana Balter);
- The 27th C.D. (GOP incumbent Chris Collins, under indictment for insider trading charges) vs. Democratic challenger Nate McMurray
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Industry Trends & Updates
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Economic Outlook:
September 2018
Vice Chairman and Cofounder, Promontory Interfinancial Network
Professor of Economics and Public Affairs, Princeton University
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Dr. Alan S. Blinder
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Sometimes the most exciting thing about a statement from the Federal Open Market Committee (FOMC) is blank space-something they don't say. That was the case on Wednesday.
Everyone on earth who pays attention to U.S. monetary policy knew that the FOMC would raise its target range for the federal funds rate by 25 basis points-from 2 to 2¼ percent.
The modest rate hike came right on schedule.
The "debate" over what the Fed would do, which engaged only true aficionados, was over whether it would drop or possibly modify a phrase it has been using to describe its monetary policy decisions ever since it started raising rates in December 2015: "the stance of monetary policy remains accommodative." Those words are now gone.
Not that I want to turn this molehill into a mountain, but I read this change in language as a bit dovish. Think about it. With the funds rate now just a hair below the inflation rate, the real federal funds rate is essentially zero. It is hard to find a serious person who believes the neutral real funds rate-often called r*-is that low today (the depressed past is another matter). While there may be no consensus on r* today, the central tendency-if I may borrow that phrase-is probably more like 1 percent than zero. If so, the Fed's current policy rate is still 75-100 basis points below neutral. In the usual jargon, the Fed would call that accommodative.
So does dropping the accommodative phrase from Wednesday's statement mean that some FOMC members, maybe even the majority
-maybe even Chairman Powell, think that 2¼ percent might be neutral? That seems implausible to me. But it's a tantalizing possibility.
U.S. Justice Department Update On ADA Web Accessibility
 The U.S. Justice Department told members of Congress it is evaluating whether to issue guidance on web accessibility standards under the Americans with Disabilities Act (ADA). Responding to a bipartisan letter from 103 members of Congress, the DOJ stood by its interpretation that the law applies to websites, but left room for a flexible approach.
The DOJ letter said public accommodations have flexibility in complying with nondiscrimination and communications requirements. It also said that "noncompliance with a voluntary technical standard for website accessibility does not necessarily indicate noncompliance with the ADA."
The
ICBA-supported
congressional letter encouraged the DOJ to issue guidance and restrict the rising number of unsubstantiated demand letters and lawsuits from private plaintiffs. It noted that website accessibility demand letters and lawsuits rose from 57 in 2015 to 814 last year-a 1,328 percent increase.
ICBA has updated its guidelines for community banks with advice on how to respond to plaintiffs' demand letters.
Cyber Security Tips Newsletter
 This month's "Cyber Security Tips Newsletter" is now available The New York State Office of Information Technology Services Enterprise Information Security Office (NYS ITS EISO) . This month's issue highlights National Cybersecurity Awareness Month. October 1st kicks off this month-long campaign devoted to ensuring everyone has the resources they need to stay safe online. The monthly newsletter, developed by the Multi-State Information Sharing and Analysis Center (MS-ISAC), is located on the ITS EISO website.
The information provided in the Monthly Cyber Security Tips Newsletters is intended to increase the security awareness of an organization's end users and to help them behave in a more secure manner within their work environment. While some of the tips may relate to maintaining a home computer, the increased awareness is intended to help improve the organization's overall cyber security posture. End users should adhere to the direction provided by their organization's policies.
In addition, IBANYS will be celebrating Cyber Security Awareness Month by sharing cyber security tips each Thursday throughout October on our Facebook and Twitter pages. Be sure to check our accounts tomorrow for our first set of tips!
Fed To Revise Capital & Liquidity Thresholds?
According to reports, the Federal Reserve is getting ready to revise certain thresholds in its capital and liquidity rules that could broaden the number of banks eligible for regulatory relief. The reported changes, which would redefine what counts as a big bank, could lead to lower regulatory costs for certain banks, though the "Wall Street Journal" noted this is less likely for gigantic firms such as Goldman Sachs Group Inc. and Citigroup Inc.
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
Cost:
Members-$595, Non-members-$695
*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
FDIC Seeks Feedback On Improving Communication
 The FDIC is seeking comments on how the agency can maximize efficiency and minimize burden when communicating information to banks and consumers. The request for information seeks feedback on the FDIC's process for disseminating information through Financial Institution Letters, its website, and other forms of communication. Comments will be accepted for 60 days after publication in the Federal Register.
October is Breast Cancer Awareness Month
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.
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Further Your Education at Barret Graduate School of Banking
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 [email protected] at at (212) 430-4512.
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Spotlight Bank of the Week
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Steuben Trust- 1910
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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.
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Steuben Trust- 1920
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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.
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Steuben Trust Branches
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At Steuben Trust we understand an important key to success is cultivating and maintaining relationships. Our long tenured and knowledgeable staff has a passion for meeting the needs of customers. We are proud to offer a wide range of financial products and services for individuals, businesses, not-for-profit organizations and municipalities.
Steuben Trust is committed to maintaining a community focus with local decision making.
Supporting local communities with strong relationships and leadership involvement has also been a focal point for Steuben Trust Company throughout its history. Our employees make a real difference with their dedication to and participation on local and regional boards, community sports teams and local organizations help to ensure our communities are supported and thrive.
In 2017, the Bank and its employees provided well over 225 charitable contributions to various organizations and initiatives with the communities served. In December of 2017, the Federal Home Loan Bank of New York awarded $1.4 million under the Affordable Housing Program to the City of Hornell Housing Authority for the Hornell Community Apartments project, through the coordinated efforts of our CRA Officer. This project involves the rehabilitation of 147 housing units across 10 sites throughout the City of Hornell and will serve a range of moderate- to very low-income families.
In 2017 Steuben Trust Company was presented with the Bronze award for SBA guaranteed lending activity, by the Small Business Administration. This program enables our customers to have access to valuable government programs throughout their business life cycle and leads
directly to the creation of jobs and keeps resources in our communities. Steuben Trust Company is proud to work directly with regional small and mid-sized businesses, agribusinesses and farmers to provide lending and depository products and services.
As a true community bank our focus will always remain on our loyal customers, employees and shareholders. We will continue to remain engaged in community involvement, dedicated to product and technological innovation, and provide the highest level of quality customer service.
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IBANYS Spotlight Is On...
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Promontory Interfinancial Network helps financial institutions of all sizes thrive. Promontory Network members use its solutions ̶ Bank Assetpoint®, Insured Cash Sweep®, or ICS®, CDARS®, IND®, and Yankee Sweep® ̶ to source new asset opportunities, diversify their asset portfolios, reduce collateral requirements, purchase funding, and build multi-million-dollar relationships.
For more information and how to find out how Promontory can help your bank manage its balance sheet more profitably contact:
Kevin Hamilton
Phone: (866) 776-6426 ext. 3329
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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
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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
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Democrats have been targeting key House seats across the country in an attempt to regain control of the chamber. A number of the competitive congressional races are in New York state. A
