Independent Community Banks 

More Than Willing to Lend

Exclusive to the Wall Street Journal

Many in the media and politics have created the impression among the general public that all banks are the same and all banks were responsible for the toxicity that caused this great recession. The Independent Bankers Association of New York State (IBANYS) is writing this article to address those inaccurate impressions. Instead, we seek to replace those negative impressions with positive factual information that families and small businesses of the Empire State can find security in and rely upon.

Simply stated,New York Independent Community Banks should not be lumped in with all banks and non-bank banks.

We commend the members of the Fourth Estate for the light they have shed on the practices of financial and too big to fail institutions. However, there has been a failure by those who hold the pen and the bully pulpit, to distinguish community banks from the crowd. To not separate out all those independent community banks that lend, that are safe and sound, and did not, for the most part, involve themselves in the sub-prime debacle, misinforms the American people and perpetuates disruption on Main Street.  Too many headlines and speeches continue to deter recovery with such statements as banks are "less able or willing to lend than before the recession... have reduced money available in credit lines...and have reduced home equity credit lines."

For New York independent community banks, these statements simply do not tell the entire story. We believe for numerous reasons, of which only a few can be touched upon herein, that community banks are distinguishable from the pack as "Champions of Main Street". They were before, during, and we are confident, after our resilient country rises phoenix-like from this recession.

Through responsible loan practices, which remained consistent pre- and post-recession, to credit worthy individuals, families and small businesses, community banks were able to maintain or increase their lending ability. More important our New York community banks were there for their communities during the worst of the recession and now, at the start of the road to recovery. The standards held by independent community banks have been their mainstay for generations, and it is not something that will change. Just ask John Buhrmaster, fifth generation community banker and President of 1st National Bank of Scotia, or Peter Forrestal, CEO, fourth generation community banker at Bank of Akron, and a host of others.

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These councils, which are Governor Andrew Cuomo's new approach to spending economic development money, are designed to involve local business expertise in deciding development policy.

Each regional council will be chaired by Lt. Gov. Robert Duffy, and will be led by two regional co-chairs from the business and academic community. Each council will develop a plan for the development of their region.

Could your card plastics benefit from a redesign? Would a revamped image help reinvigorate your brand? Join ICBA Bancard and CPI Card Group for a FREE 30-minute webinar detailing how online card design software can be used to:

· Refresh your design and your image in the process;

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Select from over 300 card designs, including remember 9/11-inspired imagery. In just 30 minutes learn how to register, create a custom card design, request a quote and place an order.

More Information:

 Register for a session now by clicking a date below:

· Tuesday Aug. 16, 11-11:30 a.m. EDT

· Wednesday Aug. 17, 12-12:30 p.m. EDT

· Thursday Aug. 18, 3-3:30 p.m. EDT

Private-sector employment increased a seasonally adjusted 114,000 in July, according to the ADP National Employment Report. Services-sector jobs advanced 121,000 while the goods-producing sector declined 7,000. The June increase was revised down from 157,000 to 145,000. The report is derived from payroll data and measures the change in total nonfarm private employment. 

Services-sector economic activity slowed in July but continued to expand for the 20th straight month, according to the Institute for Supply Management. ISM's non-manufacturing index registered 52.7 percent, down 0.6 percentage points from June. The business-activity index increased 2.7 percentage points to 56.1 percent. The indexes of new orders, employment and prices all declined, indicating slower growth.

The FDIC New York Region will be hosting a Regional Regulatory Conference Call on September 29, 2011 at 2:00 p.m. (EST).  The topic for the teleconference will be "Troubled Debt Restructuring." The conference is 90 minutes and will discuss outstanding guidance on troubled debt restructurings including the recently issued Accounting Standards Update (ASU) No. 2011-02, "A Creditor's Determination of Whether a Restructuring Is a Troubled Debt Restructuring." 

Register Here