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In This Issue
Being Frank
Cuomo proposes Budget
New IBANYS Member Bank!
Hinchey to retire
Join IBANYS on LinkedIn
ICBA National Convention
Quick Links

Reminder:

Community Bankers Forum

Monday, January 23, 2012 

9:30a-12:30p

One State Street
New York, NY 10004 



Upcoming IBANYS Events: 
 
Regional Meeting - Wolferts Roost Country Club, Albany, 2/8/12
8:30-11:30am 

Regional Meeting
- Turning Stone Resort, (Verona) 
Syracuse, 2/15/12 
8:30-11:30am 

Board Meeting
- Albany, 3/1/12    
Find out about more IBANYS happenings and Register HERE!!!



The new year is bright with new ideas.   
IDEA
Send your newsletter suggestions today!
 
FRANKLIN
Join the
Franklin Club today!

 Are you a member yet? If you contribute $100 or more to the our state PAC, you will become a member of the Franklin Club. It is that simple! 

 

Everyone who contributes will receive a lapel PIN with the Franklin Club designator on it, and recognition at IBANYS events. We're also adding a part of www.ibanys.net dedicated to Franklin Club members. 

 

Interested? Click the link below.   

 

Inside IBANYS 

January 18, 2012

Being Frank: You own it...so why not buy and invest in what you own!

Most likely when you think of the Independent Bankers Association of NYS, you think of advocacy for community banks...but you need to start thinking as owners, shareholders and stewards of this association and what it offers and can offer!

 

That is not crazy thinking, but rather common sense! What you invest your time, money and effort into, you expect a return...just like your bank, your community and the schools, businesses and institutions that comprise your life within that community. You want your community members coming to your bank and they in turn expect you, your employees and your community bank to buy local, invest local, play, go to school and contribute and participate in what the community offers. Call it building and supporting growth and prosperity, but it is the financial services circle of life. Each part supports the other in a symbiotic relationship.

 

Obviously, we all know I am preaching to the choir and you know how the financial circle of life works, so how come many of our community banks do not buy from themselves? Confused! Don't be. Your association has many community banker system provided services like turnkey credit/debit card products, brokerage and insurance services to name a few. These are products and services (the Fourth Pillar of the "Four Pillars" plan) that your IBANYS offers via partnerships with ICBA, ACBB or stand-alone products. Combined with Advocacy/Government Relations, Communications/PR and Education/Training, the Four Pillars is complete.

 

So, all we ask, is that when you are doing your shopping around and due diligence on a new service, or a new provider of an existing service, give IBANYS, the association you own a shot at your business. Let IBANYS and its community bank owned partners a chance to respond to your RFP and provide you with a quote. At the very least, your association will have provided a service by giving you a quote you can compare to the competition.

 

In the end, if our services are comparable or better in quality and price, you will buy from yourself...your association. Doing so, keeps down dues, diversifies our reliance on other income streams and makes us all stronger within the community bank system. As we grow stronger this association can reinvest in our primary singe focused mission, to protect and preserve community banking in New York.

 

Take a few minutes and browse your association's services at: http://ibanys.net/index.php/members/affiliates   

 

Governor Cuomo Proposes 2012-13 Executive Budget

By Dan Valente - IBANYS Dir. of Gov't Relations

 

On Tuesday, Governor Cuomo unveiled his 2012-13 Executive Budget Proposal and Reform Plan. The Governor's proposal attempts to closes the current $2 billion budget deficit with no new taxes or new fees. The Executive Budget proposal includes $132.5 billion of total spending in the fiscal year that begins April 1, 2012, a decrease of $225 million from 2011-12. This budget represents the first time in decades that a decrease in spending has occurred in consecutive years. Highlights of the plan include: 

  • Closing the current budget gap with no new taxes, fees or gimmicks, and including zero growth in State agency spending
  • Allocating $1.3 billion in State investment designed to spur a total of $25 billion from public/private partnerships to launch and accelerate major infrastructure projects and create thousands of jobs;
  • Creating a plan for the State to take over 100% of the costs of Medicaid growth that will be phased in over three years;
  • Creating a pension reform plan for public employees aimed at increasing retirement contributions, retirement age from 62 to 65 years of age and lessening the burden of mandates on state and local governments; and
  • Increasing school aid by $805 million, including $250 million linked to improved academic performance and management efficiency, and implementation of an enhanced teacher evaluation process.  

The Department of Financial Services is allocated to receive $552.2 million from this year's budget. This is a decrease of $2.8 million from the 2011-2012 budget. The decrease primarily reflects reduced spending in programs funded by the Department but administered by other State agencies.  Major budget actions included for the DFS are:  

  • Rationalization of central agency services to reduce costs and enhance overall efficiencies for this newly merged entity. Actions include the consolidation of leased office space resulting from restacking efforts and the transfer of call center operations to the Department of Taxation and Finance.
  • Sufficient funding to establish a new Foreclosure Relief Unit within the Department to provide counseling, mediation and related services to help New Yorkers stay in their homes. This initiative was highlighted by Governor Cuomo in his State of the State address.

To view all budget related documents for the 2012-2013 Executive budget proposal please click here 

 

To view documents related to the allocation of funds to all state agencies click here

 

To view budget documents related to Bank Tax Receipts click here 

 

To view budget documents related to Corporation Franchise Tax Receipts click here 

 

To view documents related to Insurance Tax Receipts click here 

 

As always, if you have any questions related to the budget or any other government relations issues that you would like to discuss please contact Dan Valente at [email protected] 



IBANYS welcomes new Member Bank!

 

IBANYS is proud to welcome the National Bank of Coxsackie as our newest Member Bank! Located in the upper Hudson Valley Region of the state, NB Coxsackie was founded in 1852. Now with six branches, the community bank's headquarters is still in the same space they moved into in 1869.  

 

NB Coxsackie President James Warren says the bank is pleased to be a part of IBANYS. Please help us in welcoming the National Bank of Coxsackie!   

Rep. Maurice Hinchey to retire 

From: Binghamton's Press & Sun Bulletin, 1/18/12
By: Brian Tumulty

 

Ten-term Democratic Rep. Maurice Hinchey of Ulster County is retiring.

 

Hinchey, who recently completed treatment for colon cancer and has been declared cancer free by his doctors, will announce tomorrow that he will not seek reelection and will retire at the end of his current term, his office said.

 

The announcement will be at 1 p.m. at the Senate House State Historic Site located at 296 Fair Street in Kingston, NY where Hinchey announced his first campaign for Congress in 1992.

 

The 73-year-old congressman underwent a second round of surgery for colon cancer earlier this month at Albany Medical Center, following an initial procedure in July.

 

Hinchey felt "very fortunate to be cancer-free'' following the recent surgery, according to spokesman Mike Morosi. He described that operation as "a final benchmark procedure, marking the completion of (Hinchey's) cancer protocol."

 

In April, Hinchey released a statement from his doctor saying he was undergoing radiation treatment for colon cancer at the Ulster Radiation Oncology Center in Kingston. He underwent surgery July 12 at the Albany Medical Center, followed by periodic chemotherapy that continued through the end of 2011. Last week, Morosi said Hinchey faced "a number of hurdles" in deciding whether to seek re-election. 


One of them is redistricting. The current configuration of Hinchey's 22nd Congressional District favors Democrats by including numerous cities and colleges. The western boundary includes Ithaca and Binghamton, while the eastern boundary includes the mid-Hudson Valley cities of Poughkeepsie, Newburgh, Middletown, and Kingston.

 

New York is losing two of its 29 House seats under redistricting this year because the state's population grew slower than the rest of the country. The State Legislature has not yet agreed on new lines.

 

Hinchey's fundraising also has lagged behind many other New York incumbents in Congress. He ended September with $107,213, much less than the $225,000 to $890,000 held by each of three Republican freshmen in surrounding congressional districts. Hinchey's campaign has not yet released its year-end 2011 fundraising report.

Two Republicans already have announced they're running for the 22nd District seat.

 

George Phillips, a teacher from the Binghamton area who lost to Hinchey in 2008 and 2010, had $55,640 at the end of September. Tom Engel, a former assistant U.S. attorney in the Southern District of New York, declared his candidacy in October. An Ulster County resident, Engel is a principal in the McKool Smith law firm.

Join the IBANYS LinkedIn Group

Show your Independent Bankers Association of New York State pride by joining our Linkedin group. Any current member of IBANYS is welcome to join.  

   

While in the group, you can pose questions to us or other members, connect with other bankers and financial service companies, and more!   

 

Join today: http://www.linkedin.com/company/independent-bankers-association-of-new-york-state



Join IBANYS members and ICBA colleagues from around the country at this year's ICBA National Convention and Techworld. Held over four days in March, the convention features something for everyone, and all the latest news and technology from around the world. See you there!


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