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A Special Edition of Inside IBANYS

Friday, September 16, 2011 


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Annual Convention Update! 

 

 The ship known as Navigating Change: The Champions of Main Street is almost ready to leave harbor. Your IBANYS crew are making sure everything is just right for our journey together. A storm named Irene kept us in port a little longer than expected, but that just means it will be bigger and better than we could have ever imagined!

 

 All of your regularly scheduled sessions have remained intact and on-time. We've lowered the room rates by $30/night! Guests have been contacting us with their excitement, and most are still able to attend despite the delay. Our Exhibit Hall is filled, and even more vendors are calling to get in! Can you feel the anticipation of this convention? You should, because you are the Champions of Main Street, and you deserve it!  

 

Important Reminders:

  •  If you are attending and haven't spoken to the hotel yet, please call to confirm your reservation with them.
  • Did you know you can still sponsor the event? It doesn't cost as much as you might think to make a real impression on our guests. Click here to find out more.  
  • We'll have additional information for you on Monday, including a new registration form for those who couldn't make it in August but can now attend! We can't wait for this amazing weekend in October!

 


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Don't Miss a Chance to Dine and Meet with NY State Senator Patrick M. Gallivan

 

President and CEO of Alden State Bank Dick Koelbl and IBANYS wish to invite you for a lunch meeting with State Senator Patrick M. Gallivan on Tuesday, October 11, 2011 from 11:00am to 1:00pm at the Lancaster Country Club. Get a chance to speak with the Senator on key issues facing community banks today.

 

We would love to see member banks in his district attending, as well as any other interested IBANYS members. Make your membership work for you with this special opportunity! 

 

Who: New York State Senator Patrick M. Gallivan (R, C, IP) 59th Senate District 

 

What: Lunch- Beef tenderloin, salad, potato & dessert; lunch will be served during discussion

 

When: Tuesday, October 11, 2011 - 11:00am to 1:00pm

 

Cost: $20 per person

 

Location: Lancaster Country Club, 6061 Broadway Street, Lancaster, NY 14086       For directions: click here   

 

How to Register: If interested, e-mail us here and we'll send you the form! Please let us know before October 1st!  

 


NYS Corporate Tax Update

 

 REIT deduction was on the agenda Thursday when the IBANYS CFO/GRC joint sub-committee on Corporate Tax met with the State Tax Department by phone. Specific topics included the Department's alternatives to REIT, the Qualified Residential Loan Portfolio Deduction, and the Small Business Loan Adjustment. IBANYS was there to offer alternatives to those the department proposed. These suggestions were derived from joint meetings of the CFO Council and the GRC.   

 

 While all participants did well yesterday, Legislative Council Bill Crowell's guidance was essential, Brian Flynn's numbers were right on and Larry Heilbronner's examples and articulation of the repercussions were exceptional.  Our take on the meeting was that the Department listened, asked good questions and had their eyes opened, and now better understands how this tax issue impacts community bank balance sheets, but could change how you operate in the future as it may well be cheaper for you to sell your loans and buy mortgage backed securities. This would result in further impact on employment of those who service loans and an overall reduction in the annuitized tax collected from loans held in NY.   

 

 We will have much more on this topic next week, and as it develops further. IBANYS is committed to advocating what is best for community banks in New York State.  

Frank J. Capaldo              
President / CEO
  
Victoria Miller
Director of Administration & Membership

Erin Clark
Director of Communications, Marketing & Development
  
William Y. Crowell, III
Legislative Counsel                      
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