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Contribute $100 or more to the our state PAC, you will become a member of the Franklin Club.
Everyone receives a Franklin Club lapel pin and recognition at IBANYS events. We're also adding a part of ww.ibanys.net dedicated to Franklin Club members.
Click the link below.
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IBANYS' 2013 Annual Convention -- Our 40th:
Buffalo & Niagara Frontier, Here We Come!
IBANYS Chairman David Nasca (Evans Bank) unveiled plans for our 2013 Annual Convention. IBANYS will return to Buffalo, New York for the first time since 1993 when we host our 40th Annual Convention next August 25-26-27 at The Hyatt Hotel. Chairman Nasca, IBANYS' staff and the city's convention and visitors professionals are planning a conference with top-notch educational programs and outstanding recreational and networking opportunities for our members, associate members, preferred providers, sponsors, exhibitors and guests!!
From Niagara Falls, to Buffalo's renowned museums, art galleries, historic landmarks, and fabulous cultural, entertainment and sports venues...our State's second most populous city and the surrounding Niagara Frontier region offer a world of exciting activities and opportunities. . .from Buffalo's vibrant downtown and waterfront areas, to Niagara Falls' spectacular views, thundering roar and shimmering rainbows - a true national treasure just a short 20-minute drive away!
From our base at the beautiful Hyatt Hotel, take advantage of Buffalo's more than 50 art galleries, the prestigious Albright-Knox Gallery, and the city's many excellent restaurants and entertainment venues. We're planning lots of surprises. Mark your calendars, and plan to celebrate IBANYS' 40th Annual Convention in style! You'll be hearing much more from us soon!
IBANYS Board Meeting Highlights
IBANYS' Board of Directors Meeting December 6 in Syracuse was extremely well attended, and featured a jam-packed agenda. It was the first under IBANYS' newly installed 2012-13 officers: Chairman David Nasca (Evans Bank), Vice Chairman Greg Hartz (Tompkins Trust), Treasurer Chris Dowd (Ballston Spa National Bank), Secretary John Buhrmaster (First National Bank of Scotia) and Immediate past Chairman Paul Mello (Solvay Bank).
Among the meeting highlights: approval of amendments to IBANYS' By-Laws (to be submitted to full membership for ratification); approval of IBANYS' 2012-13 budget; a discussion of IBANYS' 2012 Year in Review and 2013 Goals; a review of IBANYS' "Four Pillars" of legislative, education & training, communications and services areas, and a comprehensive presentation and discussion of new non-dues revenue proposals including a "virtual" insurance agency & loan referral and placement services. New York community bankers: IBANYS' 2013 Calendar of Events is finalized...print it & mark your calendars!!
IBANYS welcomes our newest member bank: Putnam County Savings Bank, headquartered in Brewster, New York.
Joe Roberto, Chairman, President & CEO
Founded in 1871, the bank operates nine branches in the Lower Hudson Valley. Joseph Roberto, Chairman, President, and CEO, has 35+ years of banking industry experience with PCSB, Empire State Bank in Newburgh, and Yonkers Financial Corporation. "I am proud to lead Putnam County Savings Bank as we continue our long legacy of providing highly personalized service to individuals, families and businesses...For more than 140 years, we have been known as a bank that genuinely understands and cares about the communities that we serve. Our size and structure allows us to be flexible and responsive, especially as it relates to consumer and commercial lending options - resulting in a higher level of customer satisfaction." Feel free to contact Joe at 845-279-7101. Great to have you and your team on board with us, Joe!
IBANYS' Associate Member Spotlight Focuses on:
Jamesson Associates, founded in 1991. Mike Jamesson has over 30 years of experience in banking and related fields, from community, thrift, and metropolitan regional banks to regional and super-regional bank holding companies. Jamesson Associates focuses on financial advisory services for community banks and thrifts, including Strategic Planning, Asset/Liability Management and Investment Banking. Contact Mike Jamesson: michael@jamessonassociates.com, (585) 889-8090.
...AND, on Great Lakes Capital Fund.
GLCF helps socially responsible corporations invest in affordable housing and community economic development activities. GLCF raises capital from corporations and financial institutions, and invests in real estate development partnerships. The partnerships receive essential equity for their developments. The investors receive a competitive internal rate of return on their investment through tax benefits; and the community receives high quality, affordably-priced housing and/or commercial developments. Contact: Dennis Quinn, SVP: dquinn@capfund.net, (313) 820-6939.
GOVERNMENT RELATIONS
In Albany:
Cuomo's Tax Reform Commission, "Litmus Test"
Governor Cuomo announced his Tax Reform and Fairness Commission, and charged it with making the state's tax code "simpler and more fair" and helping to "reduce the tax burden faced by New Yorkers and businesses," and wants "revenue-neutral" policy recommendations. Among the panel's members: M&T Bank Chairman and CEO Robert Wilmers, and Deborah Wright, Chair, President and CEO of Carver Bancorp and Carver Federal Savings Bank.
Governor Cuomo also issued a 10-item "litmus test list" by which he will judge the new Senate Majority Coalition's effectiveness. It includes campaign finance reform and a minimum wage hike. Some observers believe the wage hike may be enacted - but without the indexing piece that Republicans and many in the business community strongly oppose.
Sandy's Cost To State Now Uncertain
In early November, Governor Cuomo estimated Hurricane Sandy had added at least another $1 billion to the 2013-14 projected budget deficit, bringing the total to $2 billion. This week, he changed his tune: "We had a billion-dollar deficit going in, and we're still about there. If there's going to be an effect from the storm that's significant, we don't have any good data yet that would suggest that."
Cuomo's, Clinton's Favorability Up
The new Siena poll found Governor Cuomo has a 72-21% favorability rating, (up from 67-24% in October), with 60% saying he's doing an excellent or good job as governor. 62% are prepared to re-elect him, but a plurality does not want him to run for President. Secretary of State Clinton has a 75-23% favorability rating, and by 54-39%, voters do want her to run for President. Nearly two-thirds had no problem with state senators switching allegiance to vote for the opposite party to control the Senate.
In Washington:
TAG Passes 1st Senate Test--Our Grassroots Efforts Succeed!
The U.S. Senate voted 76-20 to limit debate on S. 3637, which would extend the Transaction Account Guarantee coverage for two years. Thanks to the grassroots efforts of New York community bankers, Senators Schumer and Gillibrand both voted yes. Thanks for your support! The legislation still faces procedural hurdles, perhaps as soon as this Thursday, before it can receive a final Senate vote. Senate Majority Leader Reid filed motions preventing any amendments to the legislation, an important step in moving the measure ahead and getting a vote solely on a temporary TAG extension.
CFPB Now Sharing Complaints With State Regulators
The Consumer Financial Protection Bureau is sharing consumer complaint data involving credit cards, mortgages, student loans, checking accounts, savings accounts, credit reporting, bank services and other consumer loans with state regulatory agencies.
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MEMBER SERVICES & EDUCATION
IBANYS' WEBINARS Help Your Bank! IBANYS' webinars help your bank's employees stay current on any number of important best practices, trends and issues. Choose from: Effective IT Crisis Management, Completing the new SAR and CTR Reports, Dissecting Loan Loss Reserves, Escrow Account Compliance, Opening Trust Accounts, Social Technology Strategies for your bank, . . .and much, much more! Sign up TODAY & participate: http://financialedinc.com/IBANYSwebinars.html
IBANYS' 2013 Calendar of Events is now available for your planning purposes. Print and save, and hold the dates!!
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INDUSTRY INSIGHTS
Some Interesting Statistics
Selected banking measures for IBANYS member institutions from Veribanc provides an interesting look for the third quarter of 2012. Cumulative assets of member banks were up 8% from a year ago, to $44.5 million. Consumer loans were up just over 8% and represented 12% of all loans. Home mortgages (1-to-4 families) were up 7.75%, and comprised just under 39% of all loans. Small business loans (not agriculture) represented 8% of all loans, and were down slightly, but fared better compared to those of all banks in New York State. Savings deposits were up 13%. Stay tuned: More to follow.
Economic Updates:
Fed Keeps Easing, Sets Target for Rates The Federal Reserve today pledged to keep interest rates low until unemployment falls below 6.5% and inflation tops 2.5%. Economists had been expecting the Fed to accelerate its quantitative easing to the tune of another $45 billion a month, and it came through. With its move to buy $40 billion of mortgage-backed securities a month, that would bring the Fed balance sheet expansion to about another trillion dollars in 2013, and $4 trillion overall.
Housing Recovery? Yes... And, No
It's a double edged sword. Rising home prices are necessary for the overall housing market to recover, and for more borrowers to get back "above water" on their mortgages. But, they're also cutting into the affordability that's been bringing more buyers back to the market in the first place. However, applications for U.S. home mortgages rose last week, as loan requests for new purchases hit a third straight high point on the year, and fixed 30-year mortgage rates hit a historical low.
Small Business Owners More Pessimistic
Small business owners were more pessimistic in November after the election and Hurricane Sandy. The National Federation of Independent Business small-business optimism index dropped 5.6 points to 87.5. The number of owners "expecting better times ahead" fell 37 points, and nearly half of those surveyed were pessimistic. The biggest drags? Expectations that business conditions will be worse in six months, the looming 'fiscal cliff, the possibility of higher health care costs and the "endless onslaught" of new regulations.
But, New Yorkers Upbeat On Economy, Personal Finances
A new Siena Research poll found 39% of New Yorkers think the national economy will be better next year, 22% worse and 36% about the same. For New York State's economy, 34 percent say it will be better, 21% worse and 42% about the same. By 55-32% margin, respondents said New York is "headed on the right track as opposed to the wrong direction," and for the first time since August 2009, 50% said the country is on "the right track." Meanwhile, 27% believe their personal finances will be better next year, 18% worse and 53% about the same.
Voters Still Split On Hydrofracking
The Siena Poll found voters narrowly support hydrofracking in parts of upstate by a 42-36% plurality. A majority of downstate suburban voters and a solid plurality of New York City voters support it, while upstaters are opposed, 45-39%. Democrats and Independents are closely divided, but Republicans strongly support it.
Developing: "Izz ad-Din al-Qassam Cyber Fighters," the group claiming to be aligned with Islamic terrorism that launched an attack against U.S. bank websites earlier this fall, has threatened another round this week against J.P. Morgan Chase, Bank of America, U.S. Bancorp, PNC Financial Services and SunTrust Banks. The individuals behind al-Qassam have yet to be identified, but the name is a reference to the armed wing of Hamas.
IBANYS' CLASSIFIED SECTION
IBANYS Members: Have a classified ad you'd like us to run? Send it to Steve Rice at stever@ibanys.net
Cattaraugus County Bank/CCB (Little Valley NY) would greatly appreciate any IBANYS member's help in the recruitment of applicants to fill a senior retail/loan officer position. Please contact, or have potential applicants contact, Mr. Max Pickard, Chief Lending Officer, at 716-938-8506, address: 120 Main Street, Little Valley NY, 14755, email: mpickard@ ccblv.com.
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DID YOU KNOW. . . That Buffalo, New York . . .was selected as an All America City and Community? Helped shape the country as the western terminus of the Erie Canal? Is the place where Teddy Roosevelt took the oath of office as our 26th President? Features historic architecture by Frank Lloyd Wright, Louis Sullivan and H.H. Richardson, and a gorgeous system of parks and parkways by Frederick Law Olmsted? Is the home of the NFL's Bills, NHL's Sabres and the New York Mets' Triple A franchise, the Bison? Buffalo is full of surprises! Come find out at IBANYS' 40th Annual Convention next August!
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Frank J. Capaldo
President / CEO
Stephen W. Rice
Director of Government Relations & Communications
William Y. Crowell, III
Legislative Counsel
Martin J. Donnells
Associate
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