If this page doesn't display properly in your email, click here. November 7, 2012
New Jersey Bankers Association
Legislative Update
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Regulatory Bulletin
Buy-Sell Loans/Participations
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NJBankers Board Appoints New Officers and Members

Following the resignation of Robert King as first vice chairman, the NJBankers Board has taken the following actions:

Stewart E. McClure, Jr. (second vice chairman), president and CEO of Somerset Hills Bank, has been named the new first vice chairman.  Board member Gerald L. Reeves, president and CEO of Sturdy Savings Bank, has been named the new second vice chairman.  Thomas X. Geisel, president and CEO of Sun National Bank, has been appointed to fill the District 3 board vacancy (for a term expiring May 18, 2013) created by Mr. Reeves’ appointment as an officer.  James A. Hughes, president and CEO of Unity Bank has been appointed as an at-large member of the Executive Committee to fill the vacancy created by Mr. Reeves’ new appointment.     

Congratulations to all!   Read more

Obama Beats Romney; Dems Beat Expectations
By Michael Affuso, Esq., SVP/Director of Government Relations

President Obama was re-elected last night by a slim margin in the popular vote and a large margin in the Electoral College.  As of right now, Florida’s tally remains unconfirmed.  If the Obama’s margin in the popular vote holds, it will mark the fifth time in six elections that the GOP has not won the popular vote.  This is due largely to demographic shifts and failure of the GOP to revive the inroads made by President Bush in the Hispanic community.

For information on the outcome of the New Jersey races, please continue reading.   Read more

Federal Home Loan Bank of New York Directors Election Update

NJBankers urges all eligible members to vote for the incumbent New Jersey director, Jay M. Ford, president and CEO of Crest Savings Bank.  Mr. Ford is completing one full four-year term and currently serves as chairman of the Audit Committee and as a member of the Strategic Planning Committee.  His opponent is a representative from a New Jersey credit union.

Completed ballots are due back at the FHLBNY no later than 5:00 p.m., Thursday, December 6, 2012.   Read more

Operations & Technology Roundtable - NEW

Tuesday, December 4, 2012
Crowne Plaza Monroe, Monroe Township, NJ

Just Added: Lessons Learned from Hurricane Sandy.  The New Jersey Bankers Association’s Operations & Technology Committee is pleased to present another in a series of interactive roundtable programs on topics of interest to bankers.  This session, Emerging Technologies, will include presentations and roundtable discussions.   Read more

 Member Poll
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All Stars Project of NJ 2012 Benefit Dinner Honors Cummings

The All Stars Project of New Jersey has been focused on A Bold Plan for Newark over the past three years.  Its number one goal has been to create the Scott Flamm Center for Afterschool Development in downtown Newark as a beacon of hope and growth for Newark’s kids and community.

Just weeks away from opening the Center’s doors, the group will hold its annual benefit dinner at the Robert Treat Hotel in Newark on Thursday, November 15th.  Kevin Cummings, president and CEO of Investors Bank and current chairman of NJBankers, will be honored for his work in support of the All Stars Project.   Read more

Housing Partnership Honors Michael and Gerri Horn

At its 20th Anniversary Celebration dinner held on October 26, 2012, The Housing Partnership honored Michael and Gerri Horn.

The Housing Partnership for Morris County was established in 1992 to help provide solutions for those needing affordable housing in the Morris County region.  The partnership promotes home ownership, targeting working households on a more modest income, through group education, free one on one counseling, down payment assistance programs and matched savings clubs.   Read more

Guest Contributor: Making a Difference Every Day
By Frank Keating, President/CEO, American Bankers Association

Frank Keating, president and CEO of the American Bankers Association, discusses how banks make a difference every day in the communities they serve.      Read more

FDIC Issues FIL Regarding Expiration of Temporary Unlimited Coverage for Noninterest-Bearing Transaction Accounts

The FDIC has issued Bulletin 45-2012 regarding the expiration of temporary unlimited coverage for noninterest-bearing transaction accounts.  The temporary unlimited deposit insurance coverage for noninterest-bearing transaction accounts (NIBTAs), including Interest on Lawyer Trust Accounts (IOLTA), is scheduled to expire on December 31, 2012.  Unless there is a change to the law, the FDIC will no longer provide separate, unlimited deposit insurance coverage for NIBTAs at insured depository institutions (IDIs) beginning January 1, 2013.  IDIs are encouraged to take steps to provide adequate advance notice to NIBTA depositors of the changes in FDIC insurance coverage so that they may consider the impact of any change in coverage in their management of these accounts.

The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) provides separate, unlimited FDIC coverage for NIBTA depositors through December 31, 2012.  Beginning January 1, 2013, the FDIC will insure NIBTAs in accordance with 12 C.F.R. Part 330, which generally provides each depositor up to $250,000 in coverage at each separately chartered IDI.      Read more

NJBankers and Crowe Horwath Offer Web Seminar on Compensation Survey

NJBankers and Crowe Horwath LLP invite members to join them on Thursday, November 8, 2012 from 9:30 to 10:30 a.m. for an informative web seminar covering information and highlights from the recently published 2012 Financial Institutions Compensation Survey.  This seminar will be presented by professionals from Crowe Horwath LLP who will provide practical suggestions on how to use the information in the survey and perspectives on industry trends.

This program will be of value to both survey participants as well as non-participants.  Read more

In Memoriam - Fletcher T. Fish

With sadness we report the passing of Fletcher T. Fish, chairman of the board at Glen Rock Savings Bank, on Monday, October 29, 2012.     Read more

FTC Warns Consumers: Charity and Home Repair Scams May Appear After a Disaster

In the wake of Hurricane Sandy, the Federal Trade Commission (FTC) is reminding consumers that scams often follow disasters.  Your institution may wish to remind customers to be extra cautious in the post-hurricane environment and be on the lookout for scams.

There will be many urgent appeals for charitable donations.  Remind your customers that if they are asked to make a charitable donation to help people in disaster-affected areas, that the FTC has provided tips in order to give wisely.   Read more

Registration Open for 2012 Commissioner's Banking Symposium

The New Jersey Department of Banking and Insurance is hosting the 2012 Commissioner’s Banking Symposium on November 28, 2012 from 8:30 a.m. to 3:00 p.m. at Battleground Country Club in Manalapan, NJ.  This event is always informative and a great opportunity to network.

Acting Commissioner Kenneth E. Kobylowski and the Division of Banking invite you to join fellow banking executives and board of directors to discuss issues impacting financial institutions.  The Keynote speaker will be Loretta J. Mester, Ph.D., EVP/director of research at the Federal Reserve Bank of Philadelphia.  More information will follow once the program is finalized.

Registration is now open.  Seating is limited and early registration is recommended.     Read more

The New Jersey Financial Institutions Directory Puts Your Company in Front of Industry Decision-Makers Year 'Round

Take advantage of the advertising opportunity in this in-depth guide to reach New Jersey’s banking industry.  Directories will be distributed to all member CEOs and associate member primary contacts as well as others in the industry.  Importantly, by advertising in the directory, you help support your Association! 

Last call to place an ad.   Read more

2012 BSA / Anti-Money Laundering Seminar

A One-Day Bank Secrecy Act Continuing Education Program
     Tuesday, November 27, 2012
     Renaissance Woodbridge Hotel, Iselin, NJ

Today’s bank regulatory environment has never been more challenging.  On top of the myriad changes from Dodd-Frank and regulatory reform, BSA compliance continues to be integral to the success of every financial institution.  From mandatory e-filing and new “dynamic” formats for CTR, DOEP and SAR reporting to enhanced exam expectations, the constancy of change continues to reinforce the need for continuing BSA/AML education. 

This program considers recent developments and the emergence of new risks.  Regulatory guidance and rulemaking are among the highlights, along with recent enforcement actions and examination findings.  Recent fines have extended to both the financial institution as well as to individual officers and directors.  In-depth analysis of FinCEN initiatives are covered, including new and proposed requirements.  This full-day working seminar is designed to explore in detail the nuances of managing risks associated with heightened expectations of BSA/AML compliance and to help financial institution professionals satisfy mandatory training requirements and benefit from networking and shared knowledge opportunities.   Read more

CFO Conference with FMS NY/NJ

Friday, November 30, 2012
Renaissance Woodbridge Hotel, Iselin, NJ

Join NJBankers and the Financial Managers Society NY/NJ Chapter for our annual half-day seminar.  This year's CFO Conference program is designed for CEOs, CFOs and other c-level and senior bank managers.

The conference kicks off with an Economic Update presentation by Dr. James W. Hughes from the Edward J. Bloustein School of Planning and Public Policy at Rutgers University.  Dr. Hughes will be followed by Tal Scheer and Dave Thornton of Crowe Horwath LLP, who will provide an Accounting / Tax Update.  After a break, attendees will hear from Stephen King and Martin M. Caine, of Wolf & Company, P.C., on Compliance and Safety and Soundness Issues.  

The conference will conclude with a Basel III Update & ERISA / DOL Fiduciary Responsibilities for CFO’s with Dennis Gibney, FinPro Inc. and Donna Massanova, ParenteBeard.   Read more

Directors College - Presented by NJBankers in Partnership with the FDIC

Thursday, December 6, 2012
Crowne Plaza Monroe, Monroe Twp, NJ

The New Jersey Bankers Association, in partnership with the Federal Deposit Insurance Corporation, is pleased to present a Directors College training program for the directors of financial institutions located in New Jersey.

The Directors College is an interactive, one-day seminar that provides ongoing education to bank directors on current topics and various elements of bank supervision. It is designed to help directors, both new and experienced, stay abreast of the ever-changing regulatory and economic environment. Now more than ever, directors are under constant pressure to remain current in their knowledge of the banking industry and the segment their institution serves.   Read more

Annual Joint Mortgage Lending Conference

Tuesday, December 11, 20120
Crowne Plaza Monroe, Monroe Twp., NJ

The New Jersey Bankers Association and the Mortgage Bankers Association of New Jersey join together once again to present the 2012 Joint Mortgage Lending Conference.

This annual one day event is a must if you want to hear the latest information relating to mortgage lending trends. The morning kicks off with a panel on the Ability to Repay, QM & Fair Lending, followed by remarks from NJ Department of Banking & Insurance Acting Commissioner Kenneth E. Kobylowski  and a Legal Update. Wrapping up the afternoon will be our luncheon keynote speaker, Patrick O'Keefe, director of Economic Research at CohnReznick LLP, with a housing market update and a panel on Mortgage Loans Not Subject to QM or Ability to Repay Criteria, to sum up your day.

In addition to timely educational sessions, leading industry service providers will be exhibiting their latest products and services, allowing for an excellent opportunity to network with lending institutions from throughout the state!   Read more

NJ Bank Marketing Association Presents Forecast 2013 Seminar

The New Jersey Bank Marketing Association is presenting their annual Forecast on Thursday, December 6, 2012 from 8:30 a.m. to 11:30 a.m. at the Holiday Inn (former Crowne Plaza), Clark, NJ (Garden State Parkway exit 135).   A Continental breakfast will be served.

A distinguished panel of experts, Kevin Cummings, president and CEO of Investors Bank and current NJBankers Chairman; Dr. James W. Hughes, dean, Edward J. Bloustein School of Planning and Public Policy at Rutgers University; and Christopher Martin, chairman, president and CEO of The Provident Bank, will present their views on the government, banking and business climate for New Jersey in the coming year.      Read more

Allstate New Jersey Holding Fourth Quarter 2012 Promotion

Allstate NJ has launched its newest promotion providing NJBankers members and associate members a unique value proposition.  For each quote for auto insurance received between October 15 and December 28, 2012, Endorsed Service Provider Allstate NJ will reward the member employee with a $20 gas card.  For each referral, 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.

The promotion runs from October 15 to December 28, 2012 with Grand Prizes of a Kindle Fire or $200 Gift Card.  
Read more

Rutgers Business School Presents Risk Management Conference

Friday, November 9, 2012
Rutgers Business School Financial Institutions Center
1 Washington Park, Newark, NJ 07102

NJBankers members are invited to attend a conference sponsored by Rutgers Business School.  The Risk Management in a Fast Changing Regulatory Environment Conference will be held on Friday, November 9, 2012 from 8:30 a.m. to 3:45 p.m. at the Rutgers Business School Financial Institutions Center, 1 Washington Park, Newark, NJ 07102.  
Read more

E-Advertising with NJBankers Makes $en$e

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

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