If this page doesn't display properly in your email, click here. April 17, 2013
New Jersey Bankers Association
Legislative Update
Applications Bulletin
Regulatory Bulletin
Buy-Sell Loans/Participations
Web Seminars
FDIC to Refund $5.7 Billion in Prepaid Assessments

The prepaid assessments to banks will be refunded because of the Deposit Insurance Fund’s rapid improvement. According to the FDIC, the $45.7 billion in assessments prepaid on Dec. 30, 2009, resolved the FDIC's immediate liquidity needs. As required by the rule, any institution’s remaining prepaid assessment will be returned to the institution by June 30, 2013.   
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CFPB Proposes New Rule to Clarify 2013 Escrows Rule

The new rule clarifies and makes technical amendments to the 2013 Escrows Final Rule. The rule also established an exemption from the escrow requirement for certain creditors that operate predominantly in “rural” or “underserved” areas.
Read more

HUD Expands Relief to Homeowners Impacted by Superstorm Sandy

A series of additional measures have been designed by HUD to help families who may be impacted by foreclosure. Read more

FHFA Extends HARP to 2015

FHFA has directed Fannie Mae and Freddie Mac to extend HARP by two years to December 31, 2015 so more underwater borrowers can benefit from lower interest rates. The program was set to expire December 31, 2013.      Read more

BCG, Inc. News: Aetna to Offer Healthcare Rate Guarantee up to 17 months in NJ Small Group Market !

The health insurance landscape is constantly changing making it difficult to keep track of all the opportunities available. In 2014, changes set in motion by the Affordable Care Act (ACA) may lead to dramatic increases in premiums. Factors such as essential health benefits, maximum plan deductibles, the application of new taxes and fees, and new rating rules will combine to push insurance premiums up substantially for some small businesses. The rate impact can vary. Aetna has just announced a Premium Savings program that can help provide cost savings during this time of change.    Read more

Members Encouraged to Participate in NJBankers' 2013 Compensation Surveys

NJBankers has recently e-mailed information to managing officers and human resources directors on its annual compensation surveys.

The first survey is conducted by our survey partner, Crowe Horwath LLP, and provides position descriptions and useful benchmarks of compensation for 192 banking positions. The survey also provide participants a better understanding of the compensation, incentives, benefits and human resource practices of financial institutions. By participating in the survey, members will receive the survey results at a substantial discount. In addition to a report for the state of New Jersey, Crowe Horwath will also have a Comprehensive Report available based on financial institutions in multiple states. Members can participate in and purchase either the Compensation & Benefits Reports or the Salary Survey or both.

In addition to the Crowe Horwath Salary/Benefit Survey, NJBankers is again conducting its annual salary survey, which provides information on the top five salaries for each bank along with directors’ compensation. Results will be provided to all participants at no cost.    Read more

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Upcoming Conferences - Mark Your Calendar
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Banking Blitzkrieg: Still a Threat

In this article, McAfee Says Gozi Prinimalka Trojan Attacks Against Banks Quietly Continuing
by Tracy Kitten

The article explains that attacks against U.S. banks using Gozi Prinimalka, the Trojan behind a planned banking blitzkrieg, are quietly continuing, with the most recent infection discovered April 4, McAfee researcher Ryan Sherstobitoff says.

Business Continuity Planning, Cyber Security: State of DoS (denial-of-service) Attacks will be discussed at the upcoming  NJBankers Operations and Technology interactive roundtable program on April 30, 2013. Details of the program and registration are noted in the article later in the Bulletin.   

  Read more of the article which appeared in BankInfoSecurity

Professional Development and Exciting Activities


109th Annual Conference
“The Future of Community Banking”
May 15 – 19, 2013

Please note that The Breakers has informed NJBankers that they are in a sell-out situation on three nights of our stay. Please read full article for information about securing a room.   

Please read more for information about hotel reservations.   Read more

2013 FMS NY/NJ Chapter & NJ Bankers Half-Day Seminar

2013 FMS NY/NJ Chapter & NJBankers Half-Day Seminar
Friday, April 19, 2013
Stony Hill Inn - 231 Polifly Road - Hackensack, NJ

Now Accepting Online Payments

8:00 a.m. Registration and Hot Buffet Breakfast

The program will include an Accounting Update presented by Brian Hecker, partner, Crowe Horwath LLP; Perspectives on Banking Strategy – 2013 presented by George Millward, managing director, The Kafafian Group; Interest Rate Risk presented by Dave Koch, COO, Farin & Associates, Inc.; Pending Regulations in the Community Bank Arena presented by Robert Pratt, fixed income application specialist, Bloomberg; and Cloud Computing Security: Myths and Realities presented by Gideon Lenkey, President, Ra Security Systems.   Read more

NJ Bank Marketing Association Presents "How to Make Sure Your Marketing Results in Sales"

Thursday, May 2, 2013
8:30a.m. – 11:30a.m.
Holiday Inn (formerly Crowne Plaza)
36 Valley Road, Clark, NJ 0706

Hear from Scott Agnoli, director of marketing, Investors Bank; Susan Mach, partner, Mach Creative Services; and D. Nicholas Miceli, market president, TD Bank, on making sure your marketing results in sales.   Read more

Colonial American Bank Receives New Jersey Charter Conversion Approval; Closes Horsham, PA Branch

Colonial American Bank announced that the New Jersey Department of Banking and Insurance has approved the conversion of the Bank from a Pennsylvania state chartered commercial bank to a New Jersey state chartered commercial bank. Read more

Magyar Bank Charitable Foundation Grants $5,000 to the Central Jersey Housing Resource Center

The Magyar Bank Charitable Foundation recently granted $5,000 to the Central Jersey Housing Resource Center. From left to right, Jay E. Castillo, president, MagyarBank Charitable Foundation, Sharon Clark, executive director, Central Jersey Housing Resource Center and Ken Bland, community relations specialist, Magyar Bank.    Read more

Pascack Community Bank Celebrates Grand Opening and Ribbon Cutting of Bank of Lodi, Division of Pascack Community Bank

Pascack Community Bank announced the bank’s grand opening celebration and ribbon cutting ceremony for its eighth branch, Bank of Lodi, Division of Pascack Community Bank, located at 2 Arnot Street in Lodi across from the municipal building. The reception, which took place on April 10, 2013 at the branch, included honorary guests, Lieutenant Governor Kim Guadagno and Lodi Mayor Marc Shrieks, who jointly officiated the ribbon cutting ceremony along with Jon F. Hanson, Chairman of the Board; Bruce M. Meisel, president & CEO; and Mike Elayan, vice president of Retail Banking and Operations. Read more

Regal Bank Celebrates Grand Opening of New Branch in Millburn

Regal Bank’s team of knowledgeable banking specialists will provide Millburn residents with superior customer service. L to R: Rita Weimer, branch manager; Kyle Avantagiato, customer service representative, Odete Luis, teller; Gume Rivera, head teller; and Helena Monteiro, customer service representative.   Read more

Unity Bank Expands Loan Management Team with Addition of Three New Staff Members


Patricia Mabus of Parsippany, Vincent Bagarozza of Oakhurst, and  Michael Torralbas of Somerville have joined the Unity Bank, bringing nearly a century of experience to Unity’s loan management team.   Read more

In Memorium - Linda Marie (nee Hogan) and Guido Lagar

With sadness we report the passing of two long-time Columbia Bank employees: Linda Marie (nee Hogan) and Guido Lagar.    Read more

NJBankers Webinar: Join Us on May 7th at 11am!

NJBankers has teamed up with Endorsed Service Provider Constellation to help members use data to forecast, plan and manage their energy spending. We are holding this complimentary webinar to help you understand the NJ Bankers Energy Program. This webinar will discuss practical strategies for building an energy procurement program that utilizes energy data to mitigate price risk, allow more accurate energy budgeting and forecasting, and provide your business with the flexibility to optimize its enterprise-wide energy spend and energy consumption.   Read more

NJBankers and Allstate New Jersey Continue to "Restore the Shore"

NJBankers and Allstate New Jersey have extended the Jersey Shore Relief - Restore the Shore Promotion exclusively for the member employees of NJBankers and associate members.  One auto quote will generate $30 to the Jersey Shore Relief Fund on the employee's behalf. Every NJBankers member employee or associate member employee who sends in an auto quote will be entered into a grand drawing for three $200 Pre-Paid Gift Cards to be raffled off the end of September 30, 2013. Read more

Publicizing Your REO Property- FREE Webinars

NJBankers is proud to announce its newest service for our members. REOdeedwagon.com allows banks to showcase their real estate for sale in front of an audience of potential buyers that extends well beyond local markets. Created by bankers for bankers and their clients, REOdeedwagon.com provides buyers and sellers a simple, easy-to-use resource for identifying, acquiring or disposing of Real Estate Owned (REO) properties. These properties are in possession of the banks as a result of foreclosure or forfeiture.   Read more

BFS Announces BFS MINTS Available for All BFS Clients

Bank Financial Services Group (BFS) formally announced the full availability of the BFS MINTS (Multi Informational Network Tracking System) for all BFS clients. This secure online portal provides full access to all information related to each client’s supplemental benefit plans and financing assets in one easy to use online location.   Read more

NJBankers Welcomes New Associate Members

Please join NJBankers in welcoming our new Associate Members. Read more to view members.   Read more

P & G Associates Welcomes New Audit Manager

P & G Associates is pleased to announce and welcome James K. Redding, CRISC as an audit manager.

Mr. Redding brings 13 years of Public Accounting experience in the financial services sector, including financial and internal audit, regulatory compliance, BSA/AML, information technology and enterprise risk management review services. He joins P & G Associates from Fontanella and Babitts, CPA, where he served as Senior Manager and supervised attest and non-attest audit engagements in accordance to Generally Accepted Auditing Standards (GAAS) and in compliance with Generally Accepted Accounting Principles (GAAP).
    Read more

Learn About Today's Residential and Commercial Mortgage Markets

Annamae Baerenbach Memorial
25th Annual Lending Conference
Friday, April 26, 2013
Renaissance Woodbridge Hotel,
515 US Highway 1 S, Iselin, NJ, 08830

This year’s program will have something for all lending professionals as well as your compliance department. Lenders are urged to share this program with their compliance department so that all divisions can be compliant. In today’s lending environment, your bank cannot afford to miss this opportunity to learn new solutions to old problems.   Read more

Operations & Technology Roundtable

Operations & Technology Roundtable
Tuesday, April 30, 2013
Crowne Plaza Monroe
390 Forsgate Drive, Monroe Township, NJ 08831

The New Jersey Bankers Association’s Operations & Technology Committee is pleased to announce the latest in a series of interactive roundtable programs. Topics to include Business Continuity Planning, Cyber Security: State of DoS (denial-of-service) Attacks, and a Potpourri Session of topics of particular interest to registrants.    Read more

NJBankers and NJ Society of CPAs 6th Annual Golf Outing

NJBankers & NJ Society of CPAs
Present the Sixth Annual Golf Outing
To Benefit K-12 Financial Literacy Education
Monday, June 10, 2013
Mercer Oaks Golf Course
725 Village Road West, West Windsor, NJ 08550

NJBankers to host joint CFO, Commercial Lending, and ERM Committee meeting

The New Jersey Bankers Association and the New Jersey Society of CPAs are again co-hosting this sixth annual golf event to help benefit K-12 financial literacy education. We have an exciting and fun day scheduled with many sponsorship opportunities available!    Read more

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