Convention 2011: Navigating Change: The Champions of Main Street |
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OCTOBER 23-25, 2011
Saratoga Springs, NY Less than 2 weeks away!!!
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BFS Group provides meaningful benefits for top bank executives and directors to help attract, retain and reward the key drivers of the bank's success and to finance those plans in a way that improves the bank's
bottom line.
Stay tuned for a special video message from BFS Group- coming soon!
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John Gianacaci
Fabrizio D'Uva
fduva@bfsgroup.com
www.bfsgroup.com
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Got a bright idea for our Newsletter?
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Don't leave us in the dark! Send it to
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Mark your calendars!
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Upcoming IBANYS Events:
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11/9/11- Fracking Meeting, Binghamton
11/15/11- Regional Meeting, Syracuse
11/17/11- Regional Meeting, Albany
??/??/11- Board Meeting, Turning Stone Resort
To find out more, click here!
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Inside IBANYS
October 12, 2011
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Convention 2011: Less than two weeks!
The air is crisp, the sun is out (after so much rain), and the IBANYS Annual Convention is less than two weeks away. It doesn't get much better than this. With all the media response, advocacy work, meeting planning, member services outreach, and more going on at IBANYS headquarters, the Annual Convention has felt worlds away recently. But everything we are accomplishing now just builds the anticipation and strength of the convention atmosphere. To be a Champion of Main Street takes work, and we are working hard with you and for you.
Did you know:
- We have doubled the number of vendors in this year's Exhibit Hall. Wait until you see it, the room will be practically overflowing with products and services your business can use!
- After dinner on Sunday, we're offering a very special treat to get you in the Halloween spirit. A ghost tour of the historic Canfield Casino and museum. Take a look at the program here...if you dare!
- One of our speakers is the President of a University that is home to an MBA program that has been ranked 3rd internationally. He is also a Dr. who is known as one of the leaders in the nation in business strategy, optimum performance, and change management.
Can you feel it? That feeling is the anticipation of things to come, and the joy and pride of being a true Champion of Main Street.
See you on the 23rd!
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Overrated
What's the big deal about a AAA rating?
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By: Jim Reber Late July 2011. The failure to reach an agreement on the handling of the growing national debt, Standard & Poor's warned quite transparently, would likely trigger a downgrade of Treasury borrowings. Congressional leaders, business editors, administration officials, and many bankers were unanimous in their conclusions about such an unprecedented step. It would be unmitigated disaster. "Decades-long repercussions" opined one pundit. "Irrevokable loss of prestige" claimed another. "Irresponsibility of the highest order" offered a federally-elected official. "Soaring costs to the taxpayer" was the refrain of more than one economist. One has the image of the scene from the classic movie "Monty Python and the Holy Grail," in which King Arthur's motley crew arrives at a fork in the road in the midst of a dense forest. The two options for travel are "Death" to the left, and "Certain Death" to the right. So the half-baked solution agreed to by Congress and the administration... read the whole article here. Jim Reber is president/CEO of ICBA Securities and can be reached at 800-422-6442 or jreber@icbasecurities.com. |
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Member helps fund after disaster
Federal Home Loan Bank of New York announced last week that it would provide up to $500 million in disaster relief loans in the wake of Hurricane Irene. The loans will be available through FHLBNY's Community Lending Program, and will help rebuild areas designated as FEMA disaster areas. 
This specific loan program can be used in lending for housing, small businesses, or economic development. FHLBNY member lenders can also use the loans for disaster relief financing, regardless of income status, to affected communities in New York State.
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Tell Congress NO on H.R. 1418!
H.R. 1418 would allow credit unions to expand their business lending by raising the cap on member business loans from 12.25 percent to 27.5 percent. The bill also would increase the size of loans exempt from the cap, exclude any loan made in an "underserved area" and repeal certain lending restrictions on undercapitalized credit unions, raising new safety and soundness concerns.
A House Financial Services subcommittee met today to debate the bill. Calls and emails are imperative now to minimize support for the measure.
You can customize your own letter with your information and logo, then send to the appropriate member from NY who co-sponsored the bill. Get the customizable letter here.
Below are the members who have supported and co-sponsored H.R. 1418.
Timothy Bishop - D-NY-1 http://timbishop.house.gov/
Carolyn McCarthy - D-NY-4 http://carolynmccarthy.house.gov/
Gregory Meeks - D -NY- 6 http://meeks.house.gov/
Edolphus Towns - D-NY-10 http://towns.house.gov/
Maurice Hinchey- D-NY-22 http://hinchey.house.gov/
Tom Reed- R-NY-29 http://reed.house.gov/
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Corporate Tax Update
| IBANYS has stayed the course on the Corporate Tax Reform proposal and the REIT issue. These are surely on the minds of every community banker in New York. Several member banks are going to complete a pro-forma to determine the impact of the small business loan subtraction deduction proposal based on a $1 million definition of small business loan, along with the inclusion of mortgage loans.
Any Corporate Tax Reform proposal which IBANYS approves of at this time is subject to change because both the Governor and the Legislature must become involved, particularly as to the applicable rate. An agreement with the Department of Taxation and Finance does not guarantee the content of the final product.
IBANYS is pursuing this with caution because the REIT deduction remains a known and positive quantity, and without an equivalent deduction community banks are disadvantaged. IBANYS is focused on preservation of the community bank business model as our only goal. To achieve that end, IBANYS is carefully approaching this issue and not committing to support until there is more certainty on impacts.
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| Hydrofracking Meeting set for November
One of the biggest issues facing New York state today is the issue of hydrofracking. We've developed a half-day program in Binghamton to answer all of your questions about how fracking could influence your bank or business. Topics include: pros and cons of natural gas exploration, explaining the physical process of hydrofracking, impacts on environmental, real estate, and municipal levels, and more! If you've ever had questions about this hot-button issue, this is a meeting you will not want to miss.
What: Hydrofracking Meeting
Who: IBANYS, Tioga State Bank, Hydrofracking Experts from PA and NY states
When: Wednesday, November 9, 2011
8:30am
Where: Riverwalk Hotel and Conference Center, Binghamton, NY
Interested in attending?? E-mail us!
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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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