If this page doesn't display properly in your email, click here. June 22, 2012
New Jersey Bankers Association
Legislative Update
Applications Bulletin
Regulatory Bulletin
Buy-Sell Loans/Participations
Web Seminars
Gerry Reeves Appointed to FRB-Phil Advisory Council

The Federal Reserve Bank of Philadelphia has appointed Gerald L. Reeves, president & CEO of Sturdy Savings Bank, to a three year term on the Community Depository Institutions Advisory Council. The 12-member council is composed of representatives from commercial banks, thrift institutions, and credit unions and convenes twice a year to share insights on economic and business trends facing community depository institutions in their local markets.

Mr. Reeves currently serves as a member of the NJBankers Board of Directors and Executive Committee and is co-chairman of JEBPAC.  He is also a member of the NJBA Service Corporation board of directors.
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NJ Chamber of Commerce Seeks Banker Input on Regional Innovation Cluster & Infrastructure Project

PlanSmart NJ, in partnership with the NJ State Chamber of Commerce, is preparing a report to add to the work of the Administration on "Regional Innovation Clusters" in the state's new Strategic Growth Plan. NJBankers members and associate members are encouraged to participate in a short online survey (http://www.surveymonkey.com/s/MK2DDYC) to assist in gathering information for the project.

This is a great opportunity for New Jersey's banking industry to be heard and participate in this important economic initiative.  Your response to the survey needs to be completed by June 29th. Your assistance would be appreciated. Read more

Senior Agency Officials to Attend NJBankers Washington Regulatory Briefings

June 26 - 27
NJBankers has learned that senior level officers will be attending next week's regulatory briefings in Washington.  Scheduled to participate are Martin Gruenberg, Acting Chairman, FDIC; Daniel Tarullo, Governor of the Federal Reserve Bank and Jennifer Kelly, Sr. Deputy Comptroller for Mid-Size Community Bank Supervision for the OCC.

The trip is designed for all levels of bankers to give them a better understanding and input into the myriad of issues affecting our industry.   Meetings are scheduled with the Consumer Financial Protection Board, Federal Reserve, Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation.  Thirty-two members have signed up and there is still time to register.    
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FASB and IASB Agree on Lease Accounting Approach

The Boards agreed to a lease accounting model where all leases with a term of one year or more would be recorded on the balance sheet. In addition to a lease liability estimated at inception that represents the current value of the lease’s non-contingent payments, a corresponding right-of-use asset would be recorded.

This is a significant change from current practice where the majority of leases are maintained off-balance sheet. It could significantly affect banks’ leverage ratios and also introduce timing differences to the recognition of certain leasing expenses that could adversely impact Tier 1 capital. Read more

 Member Poll
A recent American Banker article said that the banker-examiner relationship, once described as testy, has now thawed. Agree or disagree?

Click here to take the poll.

NJBankers 2012 Annual Golf Outing
Monday, August 13, 2012
Fiddler's Elbow Country Club, Bedminster, NJ
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County League and Other Industry Meetings
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FDIC Issues FILs Regarding the Revision of General Risk-Based Capital Rules and the Measurement of Risk-Weighted Assets

The FDIC has issued a Financial Institution Letter, FIL 25-2012, regarding a proposed rule that would revise the general risk-based capital rules to incorporate revisions by the Basel Committee on Banking Supervision to the Basel capital framework (Basel III). The proposed rule would generally revise the definition of regulatory capital components and related calculations. This Financial Institution Letter is applicable to all banks.

The FDIC has also issued FIL 27-2012 regarding a proposed rule that would revise the measurement of risk-weighted assets by implementing changes made by the Basel Committee on Banking Supervision to international regulatory capital standards and by implementing aspects of the Dodd-Frank Act. The FIL is applicable to all banks. Read more

OCC and Fed Release Financial Remediation Guidance

The Agencies have extended the deadline for requesting a free, independent foreclosure review to September 30, 2012.  Read more

Security Committee Discusses Elder Financial Abuse

At its June 21 meeting, the NJBankers Security Committee met with a representative of Adult Protective Services to discuss elder financial abuse.  Click on read more for information on resources discussed.
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Community Bankers Association Names Officers

The Community Bankers Association has announced new officers for its coming fiscal year: President: Peter Kenny, Heritage Community Bank; Vice President: Bill Moss, Two River Community Bank; Treasurer: Dennis Flanagan, Rumson-Fair Haven Bank & Trust.  Paul Fitzgerald, First Bank, is the outgoing president.
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BCG and Balance Point Payroll Present Webinar on June 28th

Members are invited to participate in a web seminar (Thursday, June 28, 2012, 9:30 a.m. – 10:15 a.m.) titled “Examining Healthcare Enrollment Patterns You Might Not Have Thought About” and “How Technology in Payroll Administration Can Put Time Back In Your Day.” Read more

Constellation Energy Presents Web Seminar on June 26

NJBankers endorsed provider, Constellation Energy, will host a complimentary Web seminar, “Strategic Energy procurement: Using Data to Forecast, Plan and Manage Your Energy Spend” on Tuesday, June 26th.  The program will include the following topics for discussion:  Why are many companies not optimizing energy data?  What is strategic energy procurement?  How are leading companies lowering energy cost and consumption?

Farah Saeed, principal consultant, North America, Energy and Power Systems with Frost & Sullivan, will highlight issues that are influencing companies to take charge of their electricity consumption.

Andrew Singer, vice president of major accounts at Constellation, will discuss practical strategies for building an energy procurement program that utilizes energy data to mitigate price risk, allows more accurate energy budgeting and forecasting, and gives you the flexibility to optimize both energy spend and energy consumption across your enterprise. Read more

Allstate New Jersey Supports the NJBankers Education Foundation with Matching Grants

Allstate New Jersey will provide matching grants to the New Jersey Bankers Education Foundation for each auto quote the company receives until June 29, 2012. Allstate is an endorsed provider of the the NJBAnkers.

The New Jersey Bankers Education Foundation was established in 2005 to honor fallen or permanently disabled military members in the post - 9/11 Afghanistan and Iraq conflicts by providing scholarships to their eligible dependents. Read more

In Memoriam - Dorothy J. Coccaro

Dorothy J. Coccaro was the mother of Joseph Coccaro, president and CEO of Bogota Savings Bank.
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NJBankers External Affairs Conference Call Slated for June 29

The call will discuss NJBankers various legislative and press initiatives thus far in 2012. Read more

Last Week's Poll Results - 21% of Responding Banks use Social Media

Nearly half of all respondents (48%) do not use social media, while 31% responded, "not yet."  Twenty- one percent are using social media.  Read more

E-Advertising with NJBankers Makes $en$e

The NJBankers Bulletin is delivered to 5,000 subscribers in each weekly issue. At this time, your company can purchase any four issues for only $500. For more information and to reserve your space, contact Emily DeMasi, director of communications, at edemasi@njbankers.com or ext. 610. Read more

North Carolina Bankers Association Presents Second Annual American Mortgage Conference

The North Carolina Bankers Association will be presenting their Second Annual American Mortgage Conference, which will bring together leading experts in the financial services industry, mortgage practitioners of every kind, policy makers and investors to discuss timely issues and to analyze what progress is being made in Washington. The Conference is a place for those involved in housing to come together to share ideas, services and products. It will be held September 18 – 20, 2012 at the Marriott Crabtree Valley, Raleigh, North Carolina.  Read more

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