If this page doesn't display properly in your email, click here. September 19, 2012
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MORE IMPORTANT THAN DODD FRANK

Basel III is coming. You can do something.

As proposed, Basel III will have a negative effect on businesses and employment, banks and consumers.

The critical public discussion of Basel III in the U.S. begins now. The basic concept of uniform adequate capital levels is a good one. The details and impacts on various groups, however, need to be fully and carefully evaluated. Basel III is not written with an understanding of American community banks. Given the differences in size/complexity of financial institutions, it only makes sense to tailor capital requirements to reflect size, complexity of the institution and its services, interconnectedness, characteristics of the markets served, impact on credit in those markets, and other factors. Lenders facing an uncertain future will take a cautious approach and restrict lending until the rules are clear. Banks will resist growth and expansion (thus hurting their customers) until there is certainty.   Read more

 
NJBankers Meets with Regulators

On Tuesday, September 11, 2012, a delegation from NJBankers met with a group of regulators at the Federal Reserve Bank of New York in lower Manhattan. The meeting provided a forum for bankers to share directly with regulators their concerns over the costs of regulatory compliance as well as issues that arise during the examination process. The meeting was a follow-up to a June, 2012, meeting NJBankers had in Washington, DC with Fed Governor Daniel Tarullo where the same issues arose. Governor Tarullo offered to arrange a follow-up meeting with all of the regulatory agencies and, true to his word, we had our meeting last week.   Read more

 
Jay Ford Named NJBankers Recommended Candidate for FHLB-NY Director

The Board named Jay Ford, President & CEO, Crest Savings Bank, as the recommended candidate for the Board of Directors of the Federal Home Loan Bank of New York. Mr. Ford is completing one full four-year term on the Board and currently serves as Chairman of the Audit Committee and as a member of the Strategic Planning Committee. The Bank will mail ballots to eligible member institutions on November 2, 2012 with a voting deadline of December 3, 2012. NJBankers urges all eligible members to vote for Mr. Ford's re-election.   Read more

 
Insider Threat Study: Illicit Cyber Activity Involving Fraud in the U. S. Financial Services Sector

A 63-page report funded by the Department of Homeland Security in collaboration with the U.S. Secret Service and the Community Emergency Response Team (CERT) Insider Threat Center identified the following six broad findings relating to insider fraud in the financial services industry:

  • Criminals who executed a “low and slow” approach accomplished more damage and escaped detection for longer. On average, over 5 years elapse between a subject’s hiring and the identified start of the fraud;
  • Insiders’ means were not very technically sophisticated. Very few subjects served in a technical role or conducted their fraud using explicitly technical means;
  • Fraud by managers differs substantially from fraud by non-managers by damage and duration. Fraud committed by managers consistently caused more actual damage ($200,105 on average) than fraud committed by non-managers ($112,188 on average);
  • Most cases do not involve collusion. Only 16% of the fraud incidents involved some type of collusion, with 69% of those involving collusion exclusively with outsiders;
  • Most incidents were detected through an audit, customer complaint, or co-worker suspicion.  Routine auditing was the most common way that an attack was detected; and
  • Personally identifiable information (PII) is a prominent target of those committing fraud. Roughly one-third of the cases involved PII being the target by the insider or external actor with younger, non-managers stealing PII more often than older employees.

Please CLICK HERE to review the full report including further details on these findings.      Read more

 
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The Fed's third round of quantitative easing (QE3) will

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Agencies Release Results of Audits on Community Bank Exam Processes

The inspectors general of the FDIC and Federal Reserve have released results of audits they conducted on their agencies’ examination processes for small community banks.  The audits were requested by the Chairman of the Senate Committee on Banking, Housing, and Urban Affairs who relayed concerns from community banks about unclear or inconsistent examination standards and the appeals process.  The audits did not include assessments of the adequacy or the effectiveness of these processes.       Read more

 
FFIEC Announces Availability of 2011 Data on Mortgage Lending

The Federal Financial Institutions Examination Council (FFIEC) has announced the availability of data on mortgage lending transactions for 7,632 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). The data covers 2011 lending activity including applications, originations, purchases and sales of loans, denials, and other actions related to applications.   Read more

 
Senior Management Conference Wrap Up

The Senior Management Conference at the Borgata Resort & Casino in Atlantic City last week attracted over 240 bankers, service providers and guests to the two-day event.

Geri Kelly, executive vice president and human resources officer at Columbia Bank was the recipient of the 2012 Warren Hill Award. The award is presented annually to a current or former NJBankers committee member who has demonstrated an overall commitment to meeting the mission of the committee, including providing assistance to our legislative and regulatory efforts and in developing educational content for the membership, among other criteria. Geri is the current vice chair and long time member of NJBankers Human Resources Committee.    Read more

 
Bankers Legislative Day October 22 in Trenton

NJBankers is proud to present Bankers’ Legislative Day on October 22nd in Trenton.   Invited guests include legislative leaders as well as officials from the Executive Branch.  In the past, over 100 bankers have attended this event in Trenton.   Read more

 
NJBankers Welcomes New Associate Members

NJBankers welcomes six new associate members, approved by the Board of Directors at their meeting on September 12, 2012.   BancAlliance, Cyberthink, Inc., Guardian Analytics, Heartland Payment Systems, Levy & Watkinson, P.C., and Princeton Global Management, LLC are the new associate member firms.   Read more

 
Boardwalk Race Against Hunger - Last Call to Register, Runners and Walkers Hit the Boards to Support FoodBank Saturday

Last call to join NJBankers and the Jersey Shore Running Club this Saturday, September 22nd, in Asbury Park to help support The FoodBank of Monmouth and Ocean Counties.   The run is scheduled for Saturday, September 22, 2012 starting at the Stone Pony, 913 Ocean Avenue, Asbury Park. Registration is from 7:00 – 8:30 a.m. with the race beginning at 8:30 a.m.  

Individuals and teams of all abilities are encouraged to participate. To register, or for more information, visit www.boardwalkrelay.org or www.foodbankmoc.org. Read more

 
Susan Staples Promoted to Director of Internal Loan Review at Columbia Bank

Prior to joining Columbia Bank in 2002 as a loan review analyst, Susan Staples served as a financial analyst at IBM Canada and Bell Canada.  She also worked at the Bank of Montreal within the bank’s marketing and commercial account management departments.   Read more

 
Robert Greene Named SVP/Team Leader in Healthcare Financial Services for TD Bank

TD Bank has promoted Robert Greene to senior vice president, New Jersey team leader in Healthcare Financial Services.  Based in Piscataway, NJ, he is responsible for sales and relationship management for all of the bank’s New Jersey healthcare clients.   Read more

 
Crystal Bringuier Appointed to Controller at Sussex Bank

Crystal Bringuier has been appointed to vice president/controller at Sussex Bank.  Ms. Bringuier is a licensed Certified Public Accountant in NJ, and a member of the AICPA, NJSCPA and FMS.   Read more

 
Annual Human Resources Conference NEW

Annual Human Resources Conference
Thursday - Friday, October 18-19, 2012
Caesar's Resort & Casino, Atlantic City, NJ

Join your co-workers and peers for two days of educational sessions and networking as the New Jersey Bankers Association once again presents the Annual Human Resources Conference.   Read more

 
Community Bank of Bergen County Keeps Seniors Safe by Joining Endorsed Service Provider SHCPF

Community Bank of Bergen County recently joined the Senior Housing Crime Prevention Foundation, Inc. (SHCPF), and is helping to protect those seniors by funding the Senior Crimestoppers program for seniors residing in this care facility.  

Pictured are (left to right):  Dr. Timothy Eustace, DC, NJ State Assembly; Trevor Dublin, administrator, Maywood Center for Health & Rehabilitation; Peter Michelotti, president & CEO, Community Bank of Bergen County; Linda Palmisano, Maywood Center for Health & Rehabilitation; and Jenny Pallo, director of activities, Maywood Center for Health & Rehabilitation.   Read more

 
Enterprise Risk Management Conference

Join NJBankers for our Enterprise Risk Management Conference.  Designed for CEOs, CFOs, compliance officers, risk managers and other senior bank managers, the event will be held on Monday, October 1, 2012 at the Crowne Plaza Monroe, Monroe Township, NJ.   Read more

 
NJBankers Members Invited to NJ Chamber of Commerce Forum

The forum will be held on September 27 at the Pines Manor in Edison.  The event includes a reception and dinner.  Husband and wife political analysts James Carville and Mary Matalin are the guest speakers.  NJBankers members can purchase tickets at the Chamber’s member cost of $150.   Read more

 
NJ Bank Marketing Association Hosts Seminar

The New Jersey Bank Marketing Association is hosting a Direct Marketing Seminar on Thursday, October 4, 2012, from 8:30 to 11:30 a.m., at the Holiday Inn (formerly the Crowne Plaza) in Clark, NJ (36 Valley Road, Clark, NJ 07066 – just off Garden State Parkway Exit 135).   Read more

 
NJBankers Members Welcome to Participate in Delaware Bankers Association Trust Conference October 2-3

The NJBankers Trust & Wealth Management Committee has arranged for NJBankers members to participate in the Delaware Bankers Association’s 2012 Trust Conference to be held October 2-3, 2012 at the Hotel DuPont, Wilmington, Delaware. NJBankers members will receive the DBA member registration fee.   Read more

 
Two-Day ERM Session with FinPro

This two day, step-by-step interactive session will build your institution’s Enterprise Risk Management program.  The session will be facilitated by Don Musso, Scott Polakoff, Nicholas Ketcha, Jr., Matthew Miller, Scott Martorana, Steven Musso, Patrick Rohan, James Devaney, Edward Butler, Gregory Garcia and Frank Sorrentino.

It will be held Tuesday & Wednesday, October 9-10 at The Somerset Hills Hotel in Warren, NJ.   Read more

 
PMC Hosting 36th Annual National IRA Conference

Pension Management Company presents their 36th Annual National IRA Conference October 15-17, 2012 in Sarasota, Florida.  The longest-running, most comprehensive IRA symposium of its kind in the country, the “National” provides the freshest information on every facet of IRA administration.     Read more

 
Senior Housing Crime Prevention Foundation Hosts 9th Annual Bankers Conference in Washington, DC

The Senior Housing Crime Prevention Foundation will host their annual Doing Well by Doing Good 9th Annual Bankers Conference October 25 and 26, 2012 at the Mayflower Hotel in Washington, DC.  This conference combines representatives from currently participating banks with prospective bankers who want to learn more about earning CRA credit while transforming and protecting the lives of nursing home residents across the country.  Being in the nation’s capital will bring insights from regulators on the current regulatory environment with a specific focus on CRA.

The Foundation provides complimentary conference registration, a travel reimbursement of up to $200 and one complimentary hotel room (including tax) for the night of October 25th.  One complimentary registration per bank.  The hotel space is limited, so signing up early is recommended.   Read more

 
Get Smart About Credit 2012

This year Get Smart About Credit will be celebrated on October 18th, with bankers connecting with youth and adults for credit education lessons throughout the month as well.   Read more

 
Join NJBankers for BankHorizons 2012

BankHorizons 2012
8:00 a.m. to 2:30 p.m.
Friday, November 2, 2012
Tropicana Casino & Resort, Atlantic City, NJ
Join us for BankHorizons and Discover What the Future Holds...    
Read more

 
2012 Financial Institutions Compensation Survey Reports Now Available

NJBankers and Crowe Horwath LLP are pleased to announce the availability of the survey report which provides detailed information on salaries, benefits and human resource practices for 202 banking positions.  In addition to a report for the state of New Jersey, you may select a Comprehensive National Report that includes compensation data on financial institutions in multiple states.

If you are interested in purchasing the survey, please contact Candice Cullen of Crowe Horwath at candice.cullen@crowehorwath.com or 616-752-4288.   Read more

 
Allstate New Jersey Olympic Summer Promotion to End September 28th

Allstate NJ's current promotion  – The Summer Olympic Promotion, runs through September 28, 2012.  For each quote for auto insurance received between August 1 and September 28, 2012, Endorsed Service Provider Allstate NJ will reward the member employee with a $20 gas card.  For each referral, you will receive a $10 gas card. In addition, if you are an existing Allstate Auto Customer, you are now eligible for a $75 credit toward your next renewal.  All NJBankers members and associate members are eligible to participate

Grand Prizes of a Kindle Fire and $200 Gift Card will be presented after the promotion ends.      Read more

 
E-Advertising with NJBankers Makes $en$e

The NJBankers Bulletin reaches over 5,000 subscribers in each weekly issue.   Read more

 
NJBankers Bulletin Poll Results

The results from the recent survey question – Are you seeing any change in the demand for business loans?

Sixty-two percent said, “Yes, refinancing (your bank or other lender)”
Twenty-Five percent said,
“Yes, new loans”
Twelve percent said, “No change in demand”

Please note, this is not a scientific poll. Read more

 
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