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October 10, 2018


In This Issue: 
Message From the President

By John Witkowski, President & CEO



Get Involved In IBANYS Government Relations Effort!GRCommittee

IBANYS member banks have played an important role over the past few years in our government relations efforts. Together, we have won significant victories in both Albany and Washington, D.C. 

At the state level, we successfully battled to win significant tax savings for New York community banks. In addition, we stopped the credit union industry's aggressive push to gain entry into public and municipal deposits as well as the State Business Development Program. We also met with legislative leadership, bank committee chairs and individual legislators. We also led a media effort through countless telephone calls, emails and visits, which made a significant difference.

In Washington, we worked closely with our partners at the Independent Community Bankers of America (ICBA) to gain the most significant regulatory relief since the enactment of Dodd Frank: the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155). We also traveled to Washington to meet with the New York Congressional Delegation on the hill on S. 2155 and countless other community banking initiatives.

Through these various actions and working together we have made real progress in both Albany and Washington D.C., advancing the community bank agenda, and defending against onerours regulatory and legislative proposals. But there is so much more to do, and the landscape may be changing dramatically. There may be a new dynamic in January with new challenges posed by a potential Democratic-controlled State Senate and/or U.S. House.

Your participation is needed now more than ever.

Please sign up to join our IBANYS Government Relations Committee. During the legislative session (January to June), there will be scheduled conference call meetings at 9:00 a.m. every Friday morning to discuss policy proposals important to our membership and industry, monitor developments at the state and federal levels and plan our agendas and responses to the issues of the day.

This is the perfect opportunity to make your voice heard in the political sphere. By taking part in our G.R. Committee activities, you are able to voice your ideas in an open and welcoming environment,  drive the policy debate and identify and promote issues vital to your bank and the community banking industry.

IBANYS CEOs: Sign up yourself, or designate someone from your senior team to represent your bank in these efforts! Contact IBANYS' Government Relations Director Steve Rice at stever@ibanys.net or me at johnw@ibanys.net to join.

We also have other important committees and peer groups that would greatly benefit from your participation, such as our Compliance Peer Group, CFO/Senior Management Peer Group, and Innovation Committee. Please email me for more information on these committees and how to sign up. 

IBANYS is always open to new ideas. If you have suggestions on other committees you'd like to see established, tell us! IBANYS is  member driven and we work together to make the community banking industry better each day.

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What's Next?

Now that we've held a full calendar of meetings, conferences, seminars and our Annual Convention. . .what's next for IBANYS? 

We are currently planning our educational conferences in various subjects. Returning to our calendar in 2019 are: 
  • Compliance Conference
  • Directors Conference
  • Human Resources Conference
  • Lending Conference
  • Security Conference
  • Banking Executive Symposium
These meetings provide insight into relevant issues spoken by experts in the field. They are also a great opportunity to network and earn CPE credits. In addition, we have also begun planning for our 2019 Annual Convention, which will be held in June 2019 at Turning Stone Resort & Casino. More information for the 2019 Annual Convention can be found in the Convention section of today's newsletter. 

Have an idea for one of our meetings? Want to see a meeting or forum on a different subject? We want to hear from you!  Contact Linda Gregware at lindag@ibanys.net or me at johnw@ibanys.net with your thoughts and/or comments. 

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As always, thank you for your support of IBANYS and all you do for community banking.

Remember: IBANYS is YOUR association. Make it work for you!

- John
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2018 Annual ConventionConvention


Thank You!

Our 2018 Annual Convention at the Hilton Albany was a success and we can't thank everyone enough for attending and participating! Special thank you to our exhibitors, sponsors, donors to PAC, and speakers. We also would like to thank ICBA for their generous donation for our one mission growth to help support community banks in New York. Here is a quick recap of Convention events:

Tuesday, September 25:
  • People from across the U.S. gathered at the Hilton Albany to set-up their exhibitor booths, prepare their presentations, and network with individuals.  
  • Our Exhibitor Tradeshow opened and Mike Briggs, President & CEO of  USNY Bank & IBANYS Chair welcomed everyone.
  • Albany Historian Maeve McEneny-Johnson gave the keynote dinner speech and gave attendees insight into the local culture.
Wednesday, September 26:
  • Passing of the Gavel from Mike Briggs (President & CEO, USNY Bank) current Chairman of IBANYS' Board of Directors to incoming Chairman-elect Tom Amell (President & CEO, Pioneer Bank).  
  • Beginning of the educational component of our Convention with intriguing speakers such as Susan Powell Byrd, CEO of  Westover Strategy, Inc., Tina Giorgio, President & CEO of ICBA Bancard, Jeff Cardone & Ben Azoff, Esq., Partner,  Luse Gorman, P.C., among many others.
Thursday, September 27:
  • Lunch and closing remarks by John Witkowski, President & CEO of IBANYS

All of the  speaker's presentations are now available to view/download. We thank everyone for their continued support of IBANYS and believing in the power of community banking.


*Please Note: Tomorrow, October 11, IBANYS will be posting a "Thank You" Video for our 2018 Annual Convention. Watch our social media accounts & website so you don't miss it!

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2019 Annual Convention

 

SAVE THE DATE

When:  

June 10-12, 2019


Where: 

T urning Stone Resort & Casino
5218 Patrick Rd, Verona, NY 13478

New Feature!
Spotlight Bank of the Week

Spotlight Bank of the Week is a new feature that we have added to our website and e-newsletter. It is an opportunity to promote anything about your organization, such as fun facts, organization news, special events, etc. The Spotlight Bank of the Week will be featured on our homepage slider, e-newsletter, and our social media platforms for one week. So don't miss out on this exceptional opportunity to showcase your bank to thousands of people!

To apply, just fill out our registration form and email it to Natalie Rowan at natalier@ibanys.net.

IBANYS Education/WebinarsWebinars
IBANYS Webinars IBANYSWebinars


Are you participating in IBANYS' webinars? Your peers are! They provide timely, important information on subjects of interest to New York community bankers. They are valuable not only for their content, but for their convenience. Take part from the comfort and privacy of your office, without leaving the bank.  Our  Webinar Series  offers many topics in the following categories:
  • Audit & Accounting
  • Collections
  • Compliance
  • Directors
  • Frontline & New Accounts
  • Human Resources
  • Information Technology
  • IRA
  • Lending
  • Operations
  • Security & Fraud
  • Senior Management
We are always adding more programs based on needs and requests of our members,
who drive our focus!  Take a look at the various series of webinars we offer by clicking each of the links below.

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FREE WEBINAR: ICS & CDARS


What the New Law Means for Banks
Thanks to the newly signed regulatory relief bill, most reciprocal deposits are no longer brokered. This comes as banks face intense and increasing competition for deposits.

Join Us for a Webinar
Join Promontory Interfinancial Network-- the nation's leading provider and inventor of reciprocal deposit placement services-- for a free webinar that outlines key provisions of the new law and the impact ICS®, or Insured Cash Sweep®, and CDARS® can have on banks' balance sheets. The webinar will also cover how banks can use ICS and CDARS to capitalize on the opportunities at hand; presenters will discuss cost-effective ways to use the services to attract high-value relationships (even as deposit competition intensifies) and to lock-in more low-cost funding (even as interest rates continue to rise.) This webinar is a "must" for decision-makers at banks of all sizes, especially for community banks that utilize collateralized deposits and/or listing services.

Choose a date and time that works for you!


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Presents a  Complimentary Recorded Webinar for
Our Valued Webinar Participants

GDPR: WHAT IS IT & SHOULD YOUR
FINANCIAL INSTITUTION BE CONCERNED?

GDPR is a hot topic! The General Data Protection Regulation is the European Union's new data protection and privacy regulation that became effective May 25, 2018. Although these EU rules were developed a continent away, don't underestimate how they might affect you.

Privacy is a fundamental human right under the EU Charter. GDPR is intended to protect EU residents' data privacy rights even outside the EU. Mandatory compliance may be closer than you think. A few states have introduced similar legislation and others are following suit. This free webinar will explain how to analyze when and how your institution will be affected by GDPR, and how it differs from your existing privacy rules.

Click the image below to access this complimentary webinar.



This free webinar is available until December 31, 2018.

View full information , including info about the presenters.


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M&A and Community Bank Valuation Update

When: October 16, 2018

Time: 10:00 a.m. CDT

ICBA Securities and its exclusively endorsed broker/dealer, Vining Sparks, will present a webinar on October 16 exclusively for the state associations that endorse ICBA Securities, as well as all other community banks.  This is the seventh in the 2018 webinar series. 

This session will address the current merger and acquisition environment, the key factors that contribute to your bank's value and will provide an update on community bank access to the capital markets.

What You'll Learn:
  • Community bank value and performance remain very strong this year.
  • The prices paid in connection with community bank mergers and acquisitions have increased this year over previous years as have the number of deals.
  • We will discuss the relevant factors considered in valuing your bank.
The webinar will last approximately 1 hour and is designed for those working as CEOs, CFOs, investment managers, bank directors, and anyone responsible for investment portfolio management. The speaker will be Tom Mecredy, Senior Vice President, Vining Sparks Community Bank Advisory Group. T
here is no cost for Vining Sparks customers orcommunity bank members and prospects. 


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Buy any 2 webinars and get a coupon code for 1 FREE 
until Oct. 31. 

Here's how to get your free webinar:

Add two webinars to your cart. Before completing your order,  enter  "Send my free webinar code!"  in the  Comments box A coupon code for your free webinar will be  emailed to you within one business day. Webinar topics can be seen under the IBANYS Webinars section above.

(Not applicable for full Series orders)


Government Relations
AlbanyAlbanyGR

 

Have You Contributed to NYSIBPAC?

This year's election is one of the most important in recent history for New York community banks. Control of the New York State Senate is very much up for grabs. Traditionally, the Senate -- under Republican control for most of the last half-century -- has provided a firewall for businesses, the financial services industry and particularly, for local independent community banks.  IBANYS' state political action committee, NYSIBPAC, works hard to determine candidates and incumbents for state offices -- including the NYS Legislature -- who understand the needs, priorities and challenges of New York's community banks. 
  • This is the year to make certain you support our efforts -- it could make all the difference going forward. 
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A Preview Of The 2019-20 State Budget?

Robert Mujica
According to a letter from State Budget Director Robert Mujica and reported on in the press, Gov. Cuomo plans to submit a budget proposal next year to continue to limit spending increases to 2 percent.  Mujica's letter "touts Cuomo's handling of the economy, the gains made on private-sector job growth and lowered taxes." 

However, he also  raised concerns the federal tax law of 2017 capping state and local tax deductions at $10,000 may have a detrimental impact on the state's finances.  "Now is not the time to be any less vigilant about our steadfast commitment to the principals of fiscal responsibility," he wrote in the letter. "Accordingly, the FY 2020 Executive Budget will continue the pattern of fiscal discipline by once again holding spending growth to two percent."  Mujica urged state agency heads to submit budget proposals that "assume zero growth from FY 2019 cash ceilings" excluding school aid and Medicaid, which are subject to caps set in statue and federal funding. The Governor  has stuck to a voluntary spending cap of 2 percent in his budget proposals. Senate Republicans have sought to make them state law.  The playing field could change if Democrats win control of the state Senate in November and push for more spending, for example on education and a single-payer health care system, which the Governor has supported at the federal level.

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Washington, D.C.WashingtonGR


Fed's Quarles Discusses Community Banks

Randal Quarles
Federal Reserve Vice Chairman for Supervision Randal Quarles, in remarks at the "Community Banking in the 21st Century" research conference, said community banks continue to play an important role in both urban and rural markets despite changes over the past 20 years. He said  while industry consolidation has led to fewer banks, most of the branches of acquired banks remain. Most mergers and acquisitions involved expansion  into new markets, not acquisitions of local competitors. That allowed local communities to continue to enjoy a variety of providers despite consolidation. He noted that t he average community bank has maintained or increased its deposit market share since 2008, suggesting that community banks have successfully competed with larger banks since the start of the recent recession. 

Meanwhile, the average number of banks in rural markets has increased in the past 20 years as community bank numbers remain stable and more large banks enter these markets.  However, Quarles also noted consolidation has led to a doubling in the number of banking markets in which no banks are headquartered, almost all of them rural. The Fed is conducting listening sessions to assess the effects of bank closures on rural communities.

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Federal Regulators Have More Than S.2155 On Their Plate

Jelena McWilliams
Federal regulators are in the process of implementing S. 2155, The Economic Growth, Regulatory Relief and Consumer Protection Act. The Federal Reserve Board is developing a proposal, mandated by the law, that revises its plan for supervising large banks -- specifically, which enhanced supervisory standards to apply to banks with assets of $100 billion to $250 billion. However, this week's Senate Banking Committee hearing with key principals from the agencies demonstrated that their current workload exceeds the S. 2155 changes. Fed Vice Chairman of Supervision Randal Quarles, FDIC Chairman Jelena McWilliams, Comptroller of the Currency Joseph Otting and National Credit Union Administration Chairman J. Mark McWatters also discussed their progress in updating capital requirements, modernizing how they enforce CRA and continuing enforcement issues at Wells Fargo. 

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ICBA Launches Bipartisan Campaign Supporting 
Pro-Community Bank Efforts of Lawmakers

The Independent Community Bankers of America (ICBA) today launched a bipartisan campaign applauding the work of pro-community bank members of Congress and encouraging them to continue their support of local communities. The ongoing issue advocacy campaign targets the constituents of 13 members of the House and Senate who have stood up for Main Street by supporting pro-community economic growth legislation, including the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155) signed into law this spring.  "ICBA's politics is community banking," ICBA President and CEO Rebeca Romero Rainey said. "We are bipartisan and support policies and policymakers that support the nation's more than 5,000 community banks and the communities and customers they serve nationwide. The passage of S. 2155 was a major victory for every Main Street town-urban, suburban and rural-that's served by a community bank. ICBA and community banks want to increase awareness of the critical role these members of Congress have served in furthering local lending, economic growth and job creation in their home districts."  As part of an ongoing strategic advocacy campaign, ICBA is delivering tens of thousands of mailings in 13 states and congressional districts. The direct-to-constituent postcards spotlight the critical role of the following members of Congress:

  • Sen. Mike Crapo (R-Idaho)
  • Sen. Heidi Heitkamp (D-N.D.)
  • Sen. Dean Heller (R-Nev.)
  • Rep. Andy Barr (R-Ky.)
  • Rep. Lou Correa (D-Calif.)
  • Rep. Sean Duffy (R-Wis.)
  • Rep. Bill Foster (D-Ill.)
  • Rep. French Hill (R-Ark.)
  • Rep. Bill Huizenga (R-Mich.)
  • Rep. Blaine Luetkemeyer (R-Mo.)
  • Rep. Patrick McHenry (R-N.C.)
  • Rep. Lisa Blunt Rochester (D-Del.)
  • Rep. David Scott (D-Ga.)
These and other ICBA-supported lawmakers were instrumental in passing the ICBA-advocated S. 2155, a landmark law that includes common-sense improvements to the nation's financial rules that will allow community banks to better serve their customers and communities. More information on the law, including ICBA's Road to Regulatory relief digital timeline, is available on its  "Passage of S. 2155" resource center. 

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New York Congressional Races Viewed As Competitive

Democrats have been targeting key House seats across the country in an attempt to regain control of the chamber. A number of the competitive congressional races are in New York state. According to three leading election analysts - Larry Sabato of the University of Virginia Center for Politics, Inside Elections with Nathan Gonzales/Roll Call and The Cook Political Report, they include: 
  • The 1st C.D. (GOP incumbent Lee Zeldin vs. Democratic challenger Perry Gershon;
  • The 2nd C.D., (GOP incumbent Peter King vs. Democratic challenger Liuba Grechen Shirley;
  • The 11th C.D. (GOP incumbent Dan Donovan vs. Democratic challenger Max Rose);
  • 18th C.D. (Democratic incumbent Sean P. Maloney vs. GOP challenger James O'Donnell;
  • The 19th C.D. (GOP incumbent John Democratic vs. Democratic challenger Antonio Delgado);
  • The 22nd C.D. (GOP incumbent Claudia Tenney vs. Democratic challenger Anthony Brindisi);
  • The 23rd C.D. (GOP incumbent Tom Reed vs. Democratic challenger Tracy Mitrano;
  • 24th C.D. (GOP incumbent John Katko vs. Democratic challenger Dana Balter);
  • The 27th C.D. (GOP incumbent Chris Collins, under indictment for insider trading charges) vs. Democratic challenger Nate McMurray

Industry Trends & Updates

President Reacts To Fed Raising Interest Rates 

Jerome Powell
President 
Trump reiterated that he does not like the Federal Reserve's decision to continue to hike interest rates, said the United States economy does not have an inflation problem and that the Fed is moving too quickly in trying to curb price increases, noting: "I think we don't have to go as fast...I don't want to slow it down even a little bit." Trump has not spoken to Federal Reserve Chair Powell about the central bank's moves to raise rates. The Fed hiked its benchmark interest rate a quarter point in September, and raised expectations for economic growth for this year and next.


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Mortgage Rates, Jobs & Consumer Credit

  • According to the Mortgage News Daily, the average rate on the 30-year fixed loan, which was just under 4 percent one year ago and below 3.5 percent in 2016, has passed the 5 percent mark for the first time in eight years. A survey by Fannie Mae found that more people think now is a good time to buy a home, but more people also think mortgage rates will continue to go up.
  • The Federal Reserve reported that consumer credit increased at a seasonally adjusted annual rate of 6.2 percent in August. Revolving credit, which includes credit card spending, rose 5.6 percent. Non-revolving credit, such as auto and student loans, increased 6.4 percent.
  • Last week's non-farm payrolls report for September found that the total amount added to payrolls was 134,000, according to the U.S. Labor Department. That was well below Refinitiv estimates of 185,000, and the slowest pace since the 14,000 added in September 2017. September's unemployment rate of 3.7 percent was down two-tenths of a point from August, and was the lowest since December 1969, when the jobless level was 3.5 percent.
  • According to the National Federation of Independent Business (NFIB), small-business optimism reached record highs in August. The NFIB's index reached 108.8, surpassing previous high-water mark of 108 set in July 1983. The new record is highest in the survey's 45-year history. 
  • Fannie Mae has appointed Hugh R. Frater as interim CEO, effective Tuesday, Oct. 16. The appointment is subject to final approval by the Federal Housing Finance Agency. Frater will succeed Timothy Mayopoulos, who announced his intention to depart in July.
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FDIC Seeks Feedback On Improving Communication

The FDIC is seeking comments on how the agency can maximize efficiency and minimize burden when communicating information to banks and consumers. The request for information seeks feedback on the FDIC's process for disseminating information through Financial Institution Letters, its website, and other forms of communication. Comments will be accepted for 60 days after publication in the Federal Register.

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October is Breast Cancer Awareness Month OctBreastCancerAwareness

 

October marks the beginning of Breast Cancer Awareness Month. 1 in 8 women will develop invasive breast cancer over their lifetime. That is why it is essential to highlight the importance of self-exams and going to the doctor each year. The statistics below illustrate  how prevalent the battle against breast cancer is: 
  • In 2018, an estimated 266,120 new cases of invasive breast cancer are expected to be diagnosed in women in the U.S., along with 63,960 new cases of non-invasive (in situ) breast cancer.
  • About 40,920 women in the U.S. are expected to die in 2018 from breast cancer, though death rates have been decreasing since 1989. Women under 50 have experienced larger decreases. These decreases are thought to be the result of treatment advances, earlier detection through screening, and increased awareness.
  • For women in the U.S., breast cancer death rates are higher than those for any other cancer, besides lung cancer.
  • As of January 2018, there are more than 3.1 million women with a history of breast cancer in the U.S. This includes women currently being treated and women who have finished treatment.

To learn how you can help or donate to research please visit  www.nationalbreastcancer.org.


The Bond Academy

Learn Bond Basics with Your Peers


 
The Bond Academy, presented by ICBA Securities and Vining Sparks, is designed to provide community bankers with the basic knowledge needed to help plan and create effective investment portfolios. A high performance investment portfolio can provide a noticeable increase to your bank's bottom line. The learning objectives of Bond Academy are aimed at providing you with the tools to understand how debt instruments work and their overall role in complementing the entire balance sheet. This all new curriculum has been specifically designed to equip a new portfolio manager with basic portfolio management issues. Specifically, fundamentals of bond pricing, valuation, and selection will be covered extensively.  

Who should attend? CPAs and those new to their roles as investment officers, cashiers, controllers, and internal control professionals will benefit the most from Bond Academy. New directors serving on the investment or asset-liability committee will also find this course beneficial. No advance preparation is necessary. You'll learn the basics of the bank portfolio investment process. 


 
Dates: October 22-23, 2018 
Where: Embassy Suites of Memphis, TN

Cost:
Members-$595, Non-members-$695

Room Cost:
$179/night
*Save $150/session per additional registration from your bank*

CPE Credit:
Earn up to 12 hours of credit

You Will Learn:
  • Bond basics, including bond pricing, duration, and price volatility
  • Bond types, including agencies, municipals, mortgage securities, and floating rate instruments
  • The composition of a high performing portfolio
  • How to understand the rate market: yield curves, spreads, monetary policy
  • How economic data affects the bond market
  • The impact of interest rate risk on portfolio management
  • Portfolio strategies of laddering, barbells, riding the yield curve
  • Day-to-day portfolio management techniques
  • Evaluating investment portfolio performance

Seminar Schedule

Monday, October 22          8:00 AM - 5:00 PM        Bond Academy
                                          6:00 PM - 9:00 PM        Dinner provided

Tuesday, October 23         8:00 AM - 12:00 PM      Bond Academy
                                          12:00 PM                       Depart



Cybersecurity Awareness MonthCyberAwarenessMonth

IBANYS Is Pleased To Present The Following Article Provided By Advanced Cyber Security (ACS)

Hackers Leveraging Zoho To Distribute Keyloggers And Steal Data
  • The India-based online office suite software provider is being abused to carry out data-theft campaigns across the globe.
  • Experts are unsure as to why Zoho is being abused at such as massive scale.
Zoho, a free online office suite software provider has turned into a major target for cybercriminals, who are now leveraging the service to propagate keylogger malware and steal data. The India-based online office suite software provider is being abused to carry out data-theft campaigns across the globe. On September 25th, the online office suite provider, had its domain taken down by its registrar, TierraNet. Zoho was shut down after TierraNet discovered phishing violations originating from one of Zoho's services. The incident impacted over 30 million Zoho users.  According to security experts at Cofense, 40 percent of the identified keyloggers were found abusing the Zoho email domain to exfiltrate data from a victim's machine to the attacker.

What are Keyloggers?

Keyloggers or keystroke loggers are programmed to monitor and record keys that a user taps on to type on their computer. Keystrokes can help attackers obtain passwords, usernames, and other confidential financial information. Hackers tend to install keyloggers along with other legitimate programs that do not appear to be dangerous.
Modern keyloggers can also collect information such as webcam footage and screenshots and send them directly to the attacker's computer.

Keyloggers Exploiting Zoho Domain

Cofense researchers  told Bleeping Computer that the most common keyloggers they observed abusing Zoho domains were Hawkeye and Agent Tesla. However, both the keyloggers function in a similar way, sending compiled data stolen from the victims back to the attackers using a free email provider like Zoho. "The rise in Keyloggers seems to coincide with a real explosion of the Malware-as-a-Service model," Cofense researchers told Bleeping Computer. "With Phishing-as-a-Service also in existence, it's possible for would-be attackers to get end-to-end malware delivery without having to run a single command."

Zoho appears to be aware of the abuse and told Bleeping Computer that it will be instituting new policies that all free Zoho.com accounts must follow. Zoho CEO Sridhar Vembu added that the company is focused on preventing this type of abuse. Experts are unsure as to why Zoho is being abused at such as massive scale. However, Cofense researchers suggest that Zoho likely attracts attackers due to its lax security. "The reason for threat actors overwhelmingly abusing Zoho is unclear, but minimal security process enforcements - optional 2FA (not enforced), activity monitoring, etc. - combine with user susceptibility to create fertile ground," the researchers added.

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Cybersecurity Awareness Month Tips: Protecting Yourself From Viruses

Every Thursday during October, IBANYS will post cyber security tips on our social media platforms. They can also be seen in our e-newsletter, the following Wednesday.

1. The most common type of viruses are pop-ups displaying unusual security warnings & asking for credit card or personal information

2. Be cautious when opening web links or attachments from unknown senders

3. Keep your software patched and updated.

4. Monitor your credit cards fro unauthorized activity.


Banking News

Further Your Education at Barret Graduate School of Banking BarretGradSchool



Barret and IBANYS are aligned with a common interest: to represent the interests of the industry through effective advocacy and high quality educational offerings.

Located in Memphis, TN, Barret Graduate School of Banking offers a comprehensive graduate learning program for professionals in the financial services field. IBANYS has established partnerships with key industry educators including the Barret Graduate School of Banking. The school provides community bankers with an opportunity for a graduate degree in banking. 

We are currently endorsed by ICBA, ICBA Securities, Arkansas Community Bankers, CBAofGA, Indiana Bankers Association, CBAofKS, MIBA, CBAofOH, CBAofWV - with a couple more on the way. 

To learn more about Barret Graduate School of Banking, please visit www.barret.ws.

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Keep The Door Open For Your Small Business Customers

Excelsior Growth Fund (EGF) is NYBDC's nonprofit Community Development Financial Institution and IBANYS' exclusive online lending partner. Join the growing number of banks that work with EGF to offer their customers an affordable and responsible option when they do not qualify for traditional financing. EGF offers loans up to $500,000 with a convenient, digital process. Loans under $100,000 are disbursed within 5 business days.

 EGF's experienced team can work hand-in-hand with yours to develop a customized process to make referring seamless. To learn more about offering your customers a second look through EGF contact Bryan Doxford, SVP, at bryan.doxford@excelsiorgrowthfund.org at at (212) 430-4512. 

Spotlight Bank of the WeekSpotlightBank



Bank of Akron was founded in 1900 and began as the Wickware National Bank of Akron at 38 Main Street in Akron. Then, in 1919 it was renamed the Bank of Akron and changed to a State Charter. In 1927, it was relocated to the new & present location at 46 Main Street in Akron. The new bank cost $43,500 to build at that time and employed five people. 

Construction of 46 Main St.

Eugene Forrestel
Bank of Akron survived the Depression as many banks failed and closed their doors. Mr. Eugene Forrestel, who was the Director and Vice President of the bank at that time, arranged with the State Banking Department to invest his money in the bank so that it could remain open. He was then elected President of the Bank of Akron in 1932 and served as President for 43 years. His entrepreneurial spirit and belief that
every community is better served by having its own local bank is ingrained in everything we do.

Bank of Akron currently has 5 locations: 46 Main Street, Akron where we have been since 1947; 9470 Clarence Center Road, Clarence Center which opened in 1993; our Akron Teller and Drive Up located at 77 Buell Street which opened in 1996; 9865 Main Street in Clarence which opened in 2002; and 3619 Walden Avenue in Lancaster which opened in 2007. As the bank continues to grow we are looking to expand our current footprint within the next year or so.

Bank of Akron Branches

As a local bank, we feel it is our responsibility to be fully entrenched in the communities we serve. Our branch managers are immensely involved in their local Chamber of Commerce and Rotary groups. We also host annual Customer Appreciation Days, giving out close to 4,000 hotdogs over 4 locations. While it is called Customer Appreciation, it really is Community Appreciation - we are so thankful to be there to support and serve their financial needs.

Customer/Community Appreciation Day

Another one of our passions is financial literacy. We are involved in our schools, particularly with the Clarence Academy of Finance where numerous employees coach, mentor and train the students in the program. We are also active with the Junior Achievement program teaching classes anywhere from the elementary to high school level.

Mentoring at the Clarence Academy of Finance

And last, we look forward to continuing on the entrepreneurial legacy of our past. We are excited to add another location in the upcoming year, along with advanced technologies and new products and services to keep us relevant and competitive in a crowded Western New York market.

To learn more about Bank of Akron, please visit www.bankofakron.com.

IBANYS Spotlight Is On...




Brown Security Solutions, LLC has been a leader in the Electronic and Physical Equipment Security field for more than 40 years across New York State.
Among the services they offer are: 
  • Electronic & Physical Security Products 
  • Special Projects 
  • Service Contracts 
  • Burglar/Fire Protection 
  • Surveillance 
  • Card Access Control 
  • ATM & TCR Sales and Service
  •  Vault & Safe Sales and Service.
For details, visit www.brownsecuritysolutions.com, o r contact   Don   Musielak at (716) 648-6012 or dmulsielak@brownsecuritysolutions.com.

IBANYS Endorsed Services
IBANYS identifies offers products and services that provide value to your banks, companies, employees communities. These brief summaries provide links for information. Please contact IBANYS President John Witkowski with questions.

Health & Wellness

My Wellness Resource & TELADOC

The health and wellness landscape continues to evolve. "My Wellness Resource" can be a nice addition to your existing benefit package. 

Teladoc can save your banks time and money, and provide real value to your employees as this testimonial from a New York community bank CEO proves:
HERE'S WHAT YOUR FELLOW NEW YORK
COMMUNITY BANKER SAYS. . .
"I wanted to let you know that some of our employees and I have been using "Teladoc" and it is one of the best things we have done for the bank. We all love it: We are saving time, avoiding waiting in an urgent care center or a doctor's waiting room for non-emergency related illnesses . . .and it is easy to use and convenient. Once you use it, you are hooked! This was a great find! Would recommend it to all banks."

Mario Martinez 
Chairman & CEO
Catskill Hudson Bank

Contact Alan Justin: (716) 907-5500. 


"Cure the Blue" Helps Banking Industry Battle Prostate Cancer!

The "Cure the Blue" program sponsored by the Buffalo Bills Alumni Foundation allows New Yorkers to participate in one of the most comprehensive efforts to help promote prostate cancer awareness and research in the United States.  Lake Shore Savings Bank has provided prostate cancer literature and Cure the Blue information at all eleven of its branches and their headquarters in Dunkirk. The bank also offered Cure the Blue ceramic lapel ribbon pins for a $5.00 donations to Cure the Blue to all their customers. "We fully understand the severity of this disease and the devastating effect it can have on families" said Lake Shore Savings Bank President and CEO Dan Reininga. "Our support of the Buffalo Bills Alumni Foundation's "Cure the Blue" initiative is something that we are taking very seriously and are proud to support." Buffalo Bills Wall of Famer and Alumni Foundation President Booker Edgerson, a two time prostate cancer survivor, said the bank has been a tremendous longtime supporter, noting: "They have really stepped up to the plate with their unwavering support of our Cure the Blue initiative." 

IBANYS urges all of our member banks, associate members and allies to join the effort. Cure the Blue" raises funds and awareness regarding prostate cancer in New York State. Visit  curetheblue.com  to get involved! Of all new cancer cases in the nation, prostate cancer represents 9.6%. In 2017, there were an estimated 161,000 new cases, and more than 26,000 fatalities due to the disease. Support IBANYS' "Cure the Blue" campaign to help New Yorkers participate to promote prostate cancer awareness and research.


Secure, Enhanced Internet Presence

The .bank program by fTLD operates trusted, verified, more secure, easily-identifiable internet locations for financial companies and  customers. www.icba.org 

Did You Know?


. . . That  the New York State Senate has been under Republican control for most of the past century and a half? Since World War II, more than 70 years ago, Democrats have only controlled "the upper house" twice: In 1965, for one year, and in 2009-10, for two years.  Did you also know that since 1878, 42 individuals have served as Senate Majority Leader (or its predecessor position, President pro Tempore). Only nine have been Democrats. . .Oneof them, "Gentleman" Jimmy Walker, later served as Mayor of New York City from 1926-32.

"Gentleman" Jimmy Walker


 
New York community banks play a key role in our state and local economies. Help spread the good news among our customers, business, elected leaders and the media!



John J. Witkowski
President & Chief Executive Officer

Stephen W. Rice
Director of Government Relations & Communications

Linda Gregware
Director of Administration & Membership Services

William Y. Crowell III
Legislative Counsel

Natalie Rowan
Marketing & Social Media Assistant
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