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There's knowing what might happen. And then there's knowing what to do with it. For nearly a century, FTN Financial has been a provider of financial products for the investment and banking community. | |
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Reminder:
Community Bankers Forum
Monday, January 23, 2012
9:30a-12:30p
One State Street
New York, NY 10004 |
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Santa has elves.
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We need you.
Submit your e-newsletter ideas today!
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CONTEST!
Submit name ideas for our new magazine (out in July) and you could WIN a REGISTRATION FOR CONVENTION 2012!!!
E-mail us ideas before January 15th! |
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Inside IBANYS
December 21, 2011
Winter Solstice
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No matter how you celebrate this season, the team at IBANYS would like to wish you the happiest of holidays.
As we gather with friends, family, and colleagues, we reflect on what we are most thankful for.
IBANYS would like to thank you for your continued support all year long. Our industry is strong because of your efforts.
Happy Holidays from Frank, Vicki, Erin, Dan and Bill
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From the Top: Celebrating What We Do
By Sal Marranca, IBANYS Board Member, ICBA Chairman
In St. Louis, Midwest BankCentre employees recently spent a day making home repairs for a low-income family, an activity they have done for several families over the years. Meredith Village Savings Bank in Meredith, N.H., has been offering various free financial fitness seminars for people of all ages. Over in Honesdale, Pa., employees at The Dime Bank recently prepared and sent care packages to troops serving in combat assignments overseas.
Meanwhile, The First National Bank of Fairfax, Minn., is supporting an adult reading program it launched with its local libraries. The State Bank of Cross Plains, Wis., is spearheading fundraising to help defray medical bills and other expenses to help a local family provide brain cancer treatments for their teenage son. And the employees at Heritage Community Bank in Fairfield, N.J., have already rallied their community to donate carloads of holiday presents for underprivileged children.
Of course, these community banks do much more...
...read the rest here.
Sal Marranca is president and CEO of Cattaraugus County Bank in Little Valley, N.Y.
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CFO Peer Group Reminder: Webinar Thursday!
Date: Thursday, December 22nd
Time: 9:00 am-10:00am
Learning Objective: To obtain an understanding of how to properly identify and disclose a troubled debt restructuring (TDR) under the FASB's recent ASC Updates and under regulatory standards.
Prerequisites: None
Level of Knowledge: Intermediate
Specific NYS areas of Study: Accounting
Teaching Method: Webinar
Content:
- Determining whether a restructuring is a troubled debt restructuring under the new ASC Update, A Creditor's Determination of Whether a Restructuring is a Troubled Debt Restructuring (TDR) and use of a TDR Checklist for appropriate documentation.
- "Real life" examples of a TDR determination.
- Reporting Requirements under the new ASC Update, Disclosures about the Credit Quality of Financing Receivables and the Allowance for Credit Losses (and examples of the disclosures).
- Regulatory Reporting Requirements (Call Report disclosure).
- "Best Practices"
If you are interested in joining the CFO Peer Council Group, e-mail Vicki Miller at vickim@ibanys.net.
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Deadline Nears for Ending Paper Savings Bond Sales at Financial Institutions
With the end of over-the-counter sales of paper savings bonds only two weeks away, financial institutions are encouraged to continue preparing employees and customers for the upcoming transition to electronic savings bonds. Savings bonds are popular gifts so financial institutions may see an increase in inquiries during the holiday season.
As a reminder, financial institutions must stop accepting applications for paper bonds after December 31, 2011, but are encouraged to continue redeeming paper bonds for customers.
The U.S. Department of the Treasury is offering new resources and materials to help financial institutions address customer inquiries and manage internal processes, including:
Download these resources at: http://treasurydirect.gov/instit/savbond/otc/otcendtoolkit.htm
You can also go to www.treasurydirect.gov to buy, manage, and redeem electronic savings bonds and other Treasury securities online.
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Bank Critic Brett King Takes Heat Over Facebook-Based Account Opening
By: John Adams, Bank Technology News
December 1, 2011
As Brett King builds his online banking storefront, Movenbank, the bank critic and author of BANK 2.0 is facing some criticism himself over his plans to use Facebook in the account opening process.
Similar to Simple (formerly BankSimple), Movenbank, which is due to launch next year, will not actually be a bank. It will control the front end of the customer relationship, and will store deposits with a chartered bank or banks, which King would not identify because the agreements were not finalized. "We looked at getting a charter and found it would be so unwieldy to apply for a charter ourselves, with no guarantee that we would succeed within our timeline," King says.
Like Simple, King is positioning his venture as an alternative to traditional banks, with the underlying contention being that old school banks aren't responding to the digital age fast enough. "I guess that we see [Simple] as partners in crime," King says. "We are creating a new category of banking, the Amazon vs. traditional bookstore idea."
New clients will use Facebook for registration and logging into movenbank.com in a process called "social sign in." The idea is to let users avoid entering multiple pages of personal information, instead using a web profile to log in with a single click.
But Facebook has come under fire recently for its privacy policies. That's placing the startup on the hot seat...
...read the entire article here.
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FDIC: CRA Asset-Size Adjustments for Small and Intermediate Small Institutions
The federal bank regulatory agencies announced the annual adjustment to the asset-size thresholds used to define small bank, small savings association, intermediate small bank, and intermediate small savings association under the Community Reinvestment Act (CRA) regulations.
The annual adjustments are required by the CRA rules. Financial institutions are evaluated under different CRA examinations procedures based upon their asset-size classification. Those meeting the small and intermediate small asset-size threshold are not subjected to the reporting requirements applicable to large banks.
Annual adjustments to these asset-size thresholds are based on the change in the average of the Consumer Price Index (CPI) for urban wage earners and clerical workers, not seasonally adjusted, for each 12-month period ending in November, with rounding to the nearest million.
As a result of the 3.43 percent increase in the CPI index for the period ending in November 2011, the definitions of small and intermediate small institutions for CRA examinations will change as follows:
- "Small bank" or "small savings association" means an institution that, as of December 31 of either of the prior two calendar years, had assets of less than $1.160 billion.
- "Intermediate small bank" or "intermediate small savings association" means a small institution with assets of at least $290 million as of December 31 of both of the prior two calendar years, and less than $1.160 billion as of December 31 of either of the prior two calendar years.
These asset-size threshold adjustments are effective January 1, 2012. The agencies will publish the adjustments in the Federal Register. In addition, the agencies will post a list of the current and historical asset-size thresholds on the website of the Federal Financial Institutions Examination Council http://www.ffiec.gov/cra/examinations.htm#THRESHOLD .
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Frank J. Capaldo
President / CEO
Victoria Miller
Director of Administration & Membership
Erin Clark
Director of Communications, Marketing & Development
Dan Valente
Director of Government Relations
William Y. Crowell, III
Legislative Counsel
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