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In This Issue
Senate Defeats Tester-Corker
IBANYS Contacts Reps
Small Business Lending Enhancement Act of 2011
IBANYS Opposes Expanded CU Lending Power
Delay of Regulation Q Termination Sought
More Updates
IBANYS Members in US Banker's Top 200
Bagnoli Featured in Visions
Convention 2011: It's Coming
New IBANYS Website
Do You Twitter?
Franklin Club: Get On the List
Grandpa Marranca
Quick Links

In Other News

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Date Changes for

Regional Meetings

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Due to scheduling conflicts, the dates for the Regional Meetings in Lancaster and Tarrytown have been changed.  Please be advised that the new dates are as follows:
  
Lancaster - July 13
Tarrytown - July 19
  
The locations will remain the same. 
Two additional meetings are planned for Fall 2011. 
If you have any questions or concerns, please contact
Crista Leigh Collins at (518) 436-4646 or [email protected].

 

IBANYS Video Links

How much money should 20- somethings save to retire?
How much money should 20- somethings save to retire?

 

Inside IBANYS 

Wednesday, June 15, 2011

Crista Leigh Collins, Editor

U.S. Senate Defeats Tester-Corker

 SENATE

The U.S. Senate voted last Wednesday 54- 45 to pass the Tester-Corker amendment, which called for the delay of swipe-free reform for a minimum of six months for further study.  However, the amendment needed to receive 60 votes for adoption.  The tally came after about an hour of debate on the issue from both sides.

 

The new swipe fee regulation, approved as part of last year's Wall Street overhaul law, goes into effect next month.  It would cap debit card swipe fees to 12 cents per transaction.  Fees now average 44 cents.
 

Where some say that the amendment explicitly exempts financial institutions with less than $10 billion in assets from swipe fee caps, others argue that this two-tiered system could ultimately harm community banks, as smaller institutions that keep their higher swipe fees could be rejected by merchants.

    

According to a recent report by bank-consulting firm Oliver Wyman, federal swipe-fee limits could trigger a 73% decline in financial firms' revenue, from $16.2 billion in 2009 to $4.4 billion.

 

IBANYS Contacts Representatives, Urges Members to Follow 


Letters were sent to Rep. Yvette Clarke, Rep. Gregory Meeks and Rep. Paul Tonko, urging support and co-sponsorship of the Communities First Act (H.R. 1697).  In the letters, IBANYS expressed the importance of this pro-Main Street legislation.

To further encourage co-sponsorship of the Communities First Act, IBANYS is urging all members to write their member of Congress and urge them to support this important piece of legislation.

The CFA is an extremely important piece of legislation to reduce the regulatory, tax and paperwork burden on community banks.  It includes a number of provisions benefiting community banks and narrowing the competitive gap with tax-exempt credit unions.  Securing as many co-sponsors as possible for CFA is a high priority for IBANYS and we hope that you will join us in spreading the message.

 

As you know, Rep. Greg Meeks sits on the House Financial Services Committee, which has jurisdiction over many community banking issues.  We are calling on all Main Street neighbors-- bankers, board members, employees, customers and advocates-- to contact Congressman Meeks and attempt to convince him to sign on as a co-sponsor of H.R. 1697.  In addition, you may also contact the office of Rep. Yvette Clarke, as she previously co-sponsored CFA.

 

Let the Representatives know that, not only can co-sponsoring CFA benefit their policy, but that it can also help out the community banks in the areas they represent. 

 

To contact Rep. Meeks Office:

Milan Dalal, (202) 225-3461, [email protected]

 

To contact Rep. Clarke's Office:

Mark Lee, (202) 225-6231, [email protected]

 

Small Business Lending Enhancement Act of 2011
Members may sign letter expressing opposition 
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A letter has been drafted that expresses the community banking sector's strong opposition to the Small Business Lending Enhancement Act of 2011.  This legislation would significantly expand the powers of taxpayer-subsidized credit unions and calls into question the credit union industry's commitment to their tax-exempt mission.  This legislation was recently introduced into the Senate (S. 509) by Senator Mark Udall (D-CO) and in the House of Representatives (H.R. 1418) by Representatives Ed Royce (S. 509) and Carolyn McCarthy (D-NY).

 

Those who wish to express their opposition to this pending legislation are strongly urged to add their signature to the letters linked here and here.  Please do this no later than COB today, Wednesday, June 15th. 

 

IBANYS Signs On to Oppose Expanded CU Lending Power 


IBANYS has signed on with ICBA and state community banking associations across America to oppose legislation to dramatically expand the powers of credit unions by expanding the legal cap on "member business loans" from 12.25 percent to 27.5 percent of a credit union's assets.  In joint letters written to every member of the House and Senate, the coalition wrote that Small Business Lending Enhancement Act of 2011 (S. 509/H.R. 1418) should not be implemented while credit unions remain subsidized by American taxpayers with their tax-exempt status.

In addition, ICBA Executive Committee member Noah Wilcox will address these concerns about the legislation at 10 a.m. EST tomorrow before the Senate Banking Committee. 

Community bankers who wish to express their opposition to the plan with custom letters to Congress may click here.  To view a copy of the letter sent by IBANYS to Senator Kirsten Gillibrand (D-NY), Senator Charles E. Schumer (D-NY) and Representative Paul Tonko (D-NY 21st), click here.

 

IBANYS Signs On to Seek Delay of Regulation Q Termination 


Today, IBANYS added their signature to a letter to the Federal Reserve.  Written by ICBA Director of Grassroots Outreach Brian R. Anderson, the letter urges the agency to indefinitely postpone the proposed rescission of Regulation Q that prohibits the payment of interest on demand deposits until the banking agencies can fully study the safety and soundness consequences of allowing the regulation to expire. 

The repeal of Regulation Q is scheduled to take effect on July 21, 2011.

A copy of the letter written to Senate Majority Leader Harry Reid and Senate Minority Leader Mitch McConnell may be found on the IBANYS website by clicking here.  A copy of the letter written to Speaker of the House John Boehner and House Minority Leader Nancy Pelosi may be found here. 

 

Other Updates
 

Institutional Investor Recovery Act

A 6060-A (Lacman)/S 4497-A (Libous) expands the Martin Act, NY General Business Law 352 to permit public pension funds and private sector multi-employer health and welfare plans to bring an action if damaged under the Martin Act.  The Martin Act is exclusively enforced by the Attorney General, and does not require proof of intent by the defendant.  This bill was considered by the Assembly Codes Committee last week and removed from the agenda.  There were a significant number of negative votes on both sides of the aisle. 

Wild Card Time Limits

S.4612-A (Griffo)/A. 8156 (Lancman) would amend the wild card law to mandate that wild card applications be determined within one hundred and twenty (120) days of receipt by the Superintendent, unless the applicant consents to an additional time period.  The Superintendent is required to notify the bank within 10 days of the determination of the reason for failure to meet the requirements.  The Senate Banks Committee reported this bill to the Senate Calendar on Tuesday.  The Assembly Banks Committee also reported this bill on Tuesday to the Assembly Rules Committee.  This bill would require decisions on wild card issues and end the practice of indefinite deferral of a determination.

New York Bankers Make US Banker
Top 200 Community Banks and Thrifts List
 
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It's no secret that community banks are under more earnings pressure than ever before, and it is important to recognize our Main Street neighbors that are proving to be financially successful and stable.  Please join IBANYS in giving praise and regard to the following banks who made their mark on the US Banker Top 200 Community Banks and Thrifts list for 2011. 

#4:  Suffolk Bancorp

#8:  Bridge Bancorp

#12:  Canandaigua National

#22:  Steuben Trust Corp.

#31:  Lyons Bancorp

#72:  Greene County Bancorp

#73:  Solvay Bank Corp.

#80:  Adirondack Trust Co.

#81:  Ballston Spa Bancorp

#110:  Kinderhook Bank Corp.

#113:  First National Bank of Groton

#123:  Alliance financial Corp.

#128:  Orange County Bancorp

#133:  Chemung Financial Corp.

#138:  Glenville Bank Holding Co.

#179:  VSB Bancorp

 

Congratulations to everyone-- including all of our members-- who made the list.  To see the complete list (as of December 31, ranked by 3-year average ROE) click here. 

IBANYS Member Eileen Bagnoli Featured in Visions Magazine 
Bagnoli 

Pioneer Bank President/CEO Eileen Bagnoli was featured on the cover of the June 2011 issue of Visions magazine.  The article talks about Bagnoli's rise from bank teller to bank president, as well as her nearly 40 year career at Pioneer.  She has held nearly every position at the company and was quoted in the article as saying, "The most important thing is to find something that feeds your soul.  If it doesn't, you're not going to be successful or extremely happy".  Read the full article at the Albany-Colonie Regional Chamber of Commerce website. 

Registration is OPEN for Convention 2011compasswmap

Navigating Change:  The Champions of Main Street
will be held August 28 - 30 at the Gideon-Putnam Resort in Saratoga Springs, NY and is sure to be our largest Annual Convention to date.  Featuring events such as horse racing at the world famous Saratoga Race Course, golf at the infamous Saratoga National Golf Course, a ballroom gala, a very, very important keynote speaker-coupled with exciting exhibits, networking cocktail hours, enlightening seminars, and delectable dining-our members can expect a deeply educational, wildly fun, and undoubtedly memorable trip to "the Spa" that they will not soon forget. 
 

Your attendance is requested at this can't-miss event.  Please watch your inbox for information on registration, accommodations, exhibit rates, and the ways in which you can learn to navigate change in the world of community banking.
 

View all of the information here:  2011 Convention Brochure

IBANYS Website: Fresh, New Look 
newandimproved

 

We are pleased to announce our website has undergone a transformation.  You will notice a drastic difference in asthetic value, navigational ease, and overall value. 

 

In the coming weeks, members can expect to see a wealth of new information, special features, and members-only content on the new website.  We expect to fully launch our brand new IBANYS website at Convention 2011.  In the meantime, watch for content as we continue construction on the page.

 

Suggestions and comments may be directed to our Director of Communications via email at [email protected].  Thank you for your support!

IBANYS is Trendingfollow me


 
Facebook:  Our new Facebook page lets YOU join the discussion!  Make comments on our wall posts, view pictures from CFO 2011 (and tag yourself, too!), get information on future events, read and give thoughts on our notes, and learn how IBANYS can benefit your organization!  Just search for Independent Bankers Association of New York State on Facebook, click "Like", and let the fun begin! 

Twitter:  Minute-by-minute updates of the latest happenings in your world-straight to your desktop!  Pictures, links, news, and crucial information will be relayed via Tweet-as well as some of the daily activities in the IBANYS office!  Follow us at www.twitter.com/IBANYS and we will send a mention your way! 

 
And yes-we follow back and retweet!

That's right-IBANYS has officially joined the world of social media!

 

Make sure you check out our brand new Twitter and Facebook

pages for updates about our association, community banking, industry trends, and much more!

 

 
Franklin Club:  Are You a Member? 
FRANKLIN


 

Take the challenge of asking every one of your board members and senior staff to take the "Franklin Club" Challenge by each contributing $100 (a Franklin) to the our state PAC.

 

Everyone who contributes will receive a lapel PIN with the Franklin Club designator on it, and recognition at the Convention and on the Association website. In addition, for every Franklin you contribute, the contributor will have an equal number of opportunities to have their name placed into a drawing. ($100=1 opportunity; $500=5 opportunities).   

 

The winner will receive two (2) free registrations to our convention in Saratoga Springs. (A question of fact must be asked of the drawing winner prior to receipt of the free registrations.)  Click here for the form 

 

Over 45% of our member banks, directors, officers, and individuals contribute to the Franklin Club!  Want to join?  Contact Crista Leigh Collins at [email protected]

Convention 2011 is Coming! 

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ICBA Chairman Welcomes 
First Grandchild  

 

SALwBABY

Chairman of ICBA.

Director, President and CEO of Cattaraugus County Bank.

Grandpa.

 

Congratulations to Salvatore Marranca, wife Kay, and daughter Mindy on the arrival of Violet Marranca Glynn, who was born May 29, 2011.  

 

Don't forget-- send in pictures of YOUR bank to be featured in the IBANYS newsletter!  Have a happy and safe weekend!

 

  
Frank J. Capaldo              
President / CEO
  
Crista Leigh Collins
Director of Communications & Newsletter Editor
  
Victoria Miller
Director of Administration & Membership
  
William Y. Crowell, III
Legislative Counsel                      
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