May 27, 2020
IBANYS Weekly E-Newsletter
  • Visit our website at to review all our daily updates on COVID-19 beginning on March 16.

The President's Message:
IBANYS News and Updates
By John Witkowski, President & CEO  
Hoping everyone is continuing to stay safe and healthy.
Since the pandemic hit New York in full force in mid-March, New York community banks have stepped up in a very big way, supporting their local communities and small businesses. . .providing critical access to the Paycheck Protection Program. . .working with borrowers to offer loan forbearance and fee waivers. . .in other words, doing what they do best: meeting the most important needs of their customers and communities.
IBANYS has worked extremely hard these past eleven weeks to serve as an important source of information and advocacy on behalf of community banks throughout New York State.
  • Since March 16, we have issued daily (and often, several times a day) updates with the latest developments, actions and information from federal and state regulators, the SBA, Congress, the White House and other key sources, including during the most hectic days of the ramp-up and launch of the PPP.
  • We have coordinated conference calls with key members of Congress and the State Legislature, the Small Business Administration, the Federal Home Loan Bank of New York, the OCC, and have spent countless hours in conversation with the NYS DFS, OCC, SBA, ICBA and our "sister" state community bank trade associations
  • We have testified in front of a Joint Legislative Hearing (represented by IBANYS Director Anders Tomson, President & CEO of Chemung Canal Trust) on the vital job that community banks have done to help small businesses during this crisis.
In summary, we have worked to keep you informed, plugged-in and prepared.
As New York's economy now moves through the stages of reopening, the operational, legislative, regulatory and societal challenges will continue to evolve as we seek "the new normal." IBANYS will continue to be community banks' chief source of timely information and committed advocacy.
This includes looking at your strategic vision for the future. 
IBANYS works with a number of companies that can help position the bank, provide direction on the future and/or implement products and services that can assist your bank and your clients. In this newsletter, you will find information on companies that will provide guidance to our banks on Digital Reporting, Artificial Intelligence, PPP guidance and support, balance sheet strategies, etc.
Please contact IBANYS if you have any specific questions about the companies in the newsletter.
. . .
-- John
There are articles, webinars and additional information that you may find helpful and informative listed below under Preferred Partners & Associate Members additional COVID-19 Information .
IBANYS Webinars

Are you participating in IBANYS webinars? Now is the time! IBANYS webinars provide timely, important information on subjects of interest to New York community bankers including human resources, business development, investment, compliance and security and much more. They are valuable not only for their content, but for their convenience and low-cost. Take part from the comfort and privacy of your office, without leaving the bank. 
Subscription Tokens
The More You Buy, The More You Save
How does it work:
T okens can be used to purchase live or recorded webinars anytime,  with no expiration ! Tokens for both live and recorded webinars are available for an additional fee. (What’s the difference?  Click here for the full description.)
Once you have your Subscription Token code, you can immediately register for webinars by using the code at checkout! (Subscription tokens not applicable for full series registrations, or other specials.)
Other Revenue & Income Generating Programs Products and Services
PURIFY GLOBAL offers high level disinfection services, specializing in end-use fogging application on various types of surfaces for advanced decontamination. Our services ensure thorough disinfection for both high-contact and low-contact areas, effectively prevents recontamination, and sets to improve the quality of life for employees, patients, and the general population.
100% non-hazardous solution. EPA Approved.
Kills 100% of pathogens & microorganisms including, but not limited to... COVID-19, H1N1, SARS.
Works on ALL surfaces including flooring, window treatments, fabrics, carpets, furniture, wood, metal, plastic, etc....
Once applied, the solution takes just 10 minutes to dry. Room is then able to be re-occupied. It would be 100% to go in immediately after. The 10 minutes is drying time.
Here are just a few of the other clients we are working with.
  • Wegman's - All stores on a weekly basis
  •  Phillips Lytle - All offices (Buffalo, Rochester, Albany, and NYC)
  •  Niagara Wheatfield Central School District - Daily disinfect of over 600,000 sf
  • Ted's Hot Dogs - All WNY stores
  • Buffalo Medical Group

Mike Jackson
Office: (585) 510-2600    Mobile: (716) 579 0719
IBANYS Preferred Partners & Associate Members &
Additional COVID-19 Resources
Webinar Series - Tuesday June 9, 2020 - 2:00-3:00 PM EST
New York's Economy:
The Path to Reopen and Recover
Can New York look to restart its economy without inviting another surge of infections? How do we transition back from a crisis that has crippled so many businesses, and left so many unemployed?
Hear from Lt. Gov. Kathy Hochul, and Congressman Thomas Suozzi (of the White House Task Force to Reopen) on what realities we should be prepared for, and what resources are available.
2020 Community Bank Webinar Series
Mortgage Market Update & Opportunities - June 2, 2020 - 10:00 a.m. CDT

ICBA Securities and its exclusively-endorsed broker, Vining Sparks, will present a webinar on Mortgage Market Update and Opportunities exclusively for the state associations that endorse ICBA Securities, as well as other community banks. This is the sixth in the 2020 webinar series. 
Kicking the can
Congress and the Fed are on a spending spree.
By Jim Reber
If you ultra-busy community bankers have been able to catch some of our policymakers commenting on the waves of fiscal and monetary stimulus rushing toward the U.S. consumer, what you heard essentially translated into an elaborate game of Kick the Can. Please note that I said “elaborate” and not “elegant.”

Fixing Future Earnings Problems, TODAY.
June 9 & June 10 at 10am CT - (2) ONE-HOUR

For over 25 years, Performance Trust has been a leader in empowering community bank executives to make better financial decisions through education & a disciplined, math-based process. Better decisions mean better results. And better results mean you stay independent, you keep your jobs, and you continue doing good in your community.

Once and for all, we will be delivering 2 hours of actionable strategic advice on how to ensure your independence. These value packed sessions will touch on: how to stress test your enterprise risk (both credit & earnings), how to address the pain of rates down on your balance sheet, and how to intelligently find assets to offset earnings pressure. All done while adhering to the time-tested Shape Management lens.

Christopher W. Schutt
Director, Performance Trust
P 312 521 1631 │ C 312 584 6100 
Effectiveness of the Paycheck Protection Program (PPP): Phases 1+2
Due to the crucial role of small businesses in the US economy, it is important to evaluate the effectiveness of the PPP program. As some states have been hit harder than others from COVID-19 – such as NY, NJ, MI and PA – the effectiveness of the program will have a bearing on the recovery of those states. We evaluate the effectiveness of the two phases of PPP along the following questions. Are there any differences across states in how the funds of PPP have been distributed? Have the states with higher concentration of small businesses or financial institutions received more funds? Have the states hit with higher unemployment receive a bigger portion of the fund?The article is available here:
Albany Update
Legislature Returns -- Agenda Includes Residential Mortgage Forbearance Bill
The State Legislature returned to session this week for the first time since negotiating and passing the budget in late March/early April. Many of the legislators may be voting remotely. The agenda includes a number of COVID-19-related bills. Among the initiatives are expected to be legislation addressing homeowners and renters (perhaps including a $100 million program to subsidize the rent of many tenants who have seen a significant drop in their income.) IBANYS has been busy working with legislators, the Governor's office and the NYS Department of Financial Services representing the interests of New York's community banks. ( Note: IBANYS sent out copies of proposed residential mortgage forbearance legislation, IBANYS' memo in opposition and correspondence with senior DFS officials in our daily update issued over the holiday weekend.)

For a press summary of some of what may be expected this week, use the link below.
Governor Cuomo Meeting With White House
Governor Cuomo traveled to Washington this morning for a meeting with the President this morning to discuss a number of issues, likely including COVID-19 matters and response efforts, the need for an infrastructure spending package and the need for federal assistance to state and local governments. NYS Budget Director Robert Mujica accompanied the governor. At his follow-up news briefing, Cuomo said no commitments on infrastructure were made at the meeting. “It was a good conversation. He’s going to be thinking about it, and we will talk next week.” He also reiterated his call for a new federal stimulus bill that would include hundreds of billions in new funding for state and local government. “There cannot be a national recovery if the state and local governments aren’t funded.”  

The State Economy, And How To Fill The Deficit
The Governor warned that the economy is not going to “just bounce back” even as the state begins its phased reopening plan in some regions. “We’ve lost thousands of small businesses that are just not going to reopen their doors. . .You’re going to see pain in this new economy, and let’s start to dissipate that, and let’s start to deal with that now.” He is still resisting the idea of raising taxes, but has not discussed his own plan to plug the state’s multi-billion-dollar budget hole. 

IBANYS' Director Anders Tomson (Chemung Canal) Testified On Community Banks' Support Of PPP, Small Businesses During Pandemic  
IBANYS board member Anders Tomspn (President & CEO, Chemung Canal Trust) testified at last week's virtual New York State Legislative Joint Public Hearing on the federal response to the economic impact on COVID-19 pandemic on small businesses in New York State. He provided strong commentary on the role New York community banks have played throughout the pandemic, and in particular the vital part they played in the SBA's Paycheck Protection Program (PPP). Read the full testimony .
Washington Update
What's Next For "Phase Four" Spending Package?
  • House Majority Leader Steny Hoyer said the House and Senate should be able to quickly agree on changes to the Small Business Administration's Paycheck Protection Program to give loan recipients more flexibility in using funds. The House is poised to pass a bill on Thursday that would extend the current eight-week period during which businesses must use funds to have loans forgiven to 24 weeks or Dec. 31, whichever comes sooner.

  • Senate Majority Leader McConnell told CNBC Congress will "probably" need to pass another coronavirus relief bill -- but he wants it to be more narrowly tailored than the $3 trillion bill House Democrats approved earlier this month, and said state re-openings will inform how broad of a scope the bill will have. McConnell also said relief for state and local governments would be limited to help only with expenses and revenue lost during the coronavirus pandemic.

The Treasury Department and SBA report that through May 26, the Paycheck Protection Program (PPP) 4,435,038 total loans had been approved, for $511,253, 599, 685.
The average loan size was $115,276 and the number of participating lenders was 5,511. here's the latest data from the White House regarding the Paycheck Protection Program (PPP):

. . .

Take Action: Urge FDIC To Change Brokered Deposit Proposal
ICBA is calling on community bankers to urge the FDIC to change its proposed regulations on what constitutes a brokered deposit. ICBA's  Be Heard grassroots action center  offers a custom letter that community bankers can use to tell the agency that its proposal is too broad and places undue limits on community banks.