If this page doesn't display properly in your email, click here. December 4, 2013
New Jersey Bankers Association
Legislative Update
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Members Urged to Ratify Proposed By-law Amendments

At its meeting on November 20, 2013, the Board of Directors recommended that the membership ratify changes to the New Jersey Bankers Association Bylaws. A packet of information relating to the proposed changes was mailed to all Regular Member banks on December 2, 2013. Members are urged to review the information and vote on the changes as soon as possible, but no later than January 16, 2014. The Board of Directors urges ratification of all the proposed amendments.  
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In Memoriam - Maurice T. "Maury" Perilli

It is with sadness that we report the passing of Maurice T. "Maury" Perilli, 95, on Monday, Nov. 25, 2013. Perilli joined the board of directors of Roma Bank in 1970 and was appointed executive vice president in 1979, a title he held until June of 1991, when Roma Bank converted to a federal charter. He was later appointed chairman of the board, a position he held until his retirement in 2011.    Read more

Fannie, Freddie Loan Limits Unchanged in 2014

In determining 2014 loan limits under the terms of the Housing and Economic Recovery Act (HERA), the Federal Housing Finance Agency (FHFA) did not change the baseline maximum conforming loan limit for the U.S. The baseline limit, $417,000 for one-unit properties in most areas of the country, [in the contiguous U.S.,]  was left unchanged based on historical index values for FHFA’s monthly and quarterly House Price Index (HPI). For New Jersey, the one-unit limit is $625,500 for the following counties: Bergen, Essex, Hudson, Hunterdon, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex and Union.  
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Pollster Frank Luntz to Keynote Economic Leadership Forum 2014

Economic Leadership Forum
Friday, January 10, 2014
The Palace at Somerset Park, Somerset, NJ


With a dynamic and impressive roster of presenters touching on New Jersey’s most important business sectors, the Economic Leadership Forum is the most far-reaching conference on the issues that shape our state.

The Economic Leadership Forum is proud to welcome the following speakers pictured above (from left to right:) Robert Barchi, president, Rutgers University; Marc Edenzon, president & CEO, Special Olympics New Jersey; Ethan Harris, co-head of Global Economics Research, Bank of America Merrill Lynch Global Research; and Wayne Hasenbalg, president & CEO, New Jersey Sports & Exposition Authority.

In addition to the speakers above, you'll also have the chance to hear from a healthcare panel of distinguished speakers, including Ken Kobylowski, Commissioner, New Jersey Department of Banking & Insurance; John Lawrence, president, Aetna New Jersey; and Eleanor Thompson, special counsel, McCarter & English presented by Aetna New Jersey.

The agenda also features a Financial Services Industry Outlook Session Moderated by Wendy L. Cama, engagement executive, Crowe Horwath LLP with panelists Kevin Cummings, president & CEO, Investors Bank; Robert Doherty, New Jersey state president, Bank of America; James S. Vaccaro, president & CEO, Manasquan Savings Bank; and  Anthony Giordano, III, president/CEO, Colonial American Bank presented by Crowe Horwath LLP.

Our third Concurrent Session will be a Real Estate Panel moderated by Ryan Nee, regional manager, Marcus & Millichap with panelists Jonathan Schultz, co-founder/managing principal, Onyx Equities; Eric Witmondt, CEO, Woodmont Properties; and Michael Allen Seeve, president, Mountain Development Corp.; and R. John Wilcox, II, vice president of East Coast Capital Markets, Marcus & Millichap presented by Marcus & Millichap.

Plus, you'll have the chance to hear from keynote speaker Frank Luntz (pictured top right).

Political pollster Frank Luntz, once dubbed "The Nostradamus of pollsters," pioneered the "Instant Response" focus group technique. A well versed commentator and lecturer, the keynote by Luntz at this year's Economic Leadership Forum is not to be missed!  Read more

NJBankers Service Awards Recognize Milestone Anniversaries

Employees and directors of member institutions who are celebrating their 15th, 20th, 25th, 30th, 35th, 40th, 45th, and 50th years of service to the banking industry will be recognized at the NJBankers 2014 Annual Conference. Those being recognized will be included in the Service Awards booklet which will be distributed at the Conference and hand delivered or mailed with a certificate following the Conference. Outside bank directors will be presented with certificates at the NJBankers Directors & Managing Officers Conference on March 14, 2014.    Read more

FHLBNY Declares a 4.00% Dividend for the Third Quarter of 2013
Al DelliBovi, President/CEO of Federal Home Loan Bank of New York

I am pleased to announce that, on November 21, 2013, your Board of Directors approved a dividend rate for the third quarter of 2013 of 4.00% (annualized). The dollar amount of the third quarter of 2013 dividend was approximately $53.9 million. The cash dividend was distributed on November 22, 2013.   Read more

Fine Points - Human, After All
Camden R. Fine, President and CEO of ICBA

So where are we all heading? Or to a more important point, what are we becoming? The answer lies in the upcoming generations.

Perhaps no group of people has been polled, probed and analyzed more by marketers and social researchers than today’s young adults. A lot has been said, overanalyzed and oversimplified about their values, attitudes, habits and aspirations. Much of this spotlight has shined on the so-called Generation Y, the second-largest cohort and potentially the group with the greatest purchasing power since the all-pervading baby boomers. Those in the Gen Y tribe, now 19 to 36 years old, have or soon will come of age personally, professionally and financially. Today, they account for over $1 trillion of purchasing power annually, a figure that will grow exponentially.   Read more

Endorsed Service Provider Allstate Offers Holiday Promotion

NJBankers is pleased to offer to our entire membership, the following Holiday Promotion from our Endorsed Service Provider Allstate New Jersey Insurance Co.

As a member benefit to your employees, Allstate will provide an additional discount off their Allstate Insurance.    Read more

2013 BSA/Anti-Money Laundering Seminar

2013 BSA/Anti-Money Laundering Seminar
Wednesday, December 11, 2013
Brookdale Community College, Lincroft, NJ  (NEW LOCATION)

Who Should Attend?  This seminar is appropriate for anyone who is responsible for your bank’s BSA/AML program, especially those designated BSA officers and staff, risk managers, compliance/operations/administration, legal counsel, trainers and auditors. Special focus is given to the second person with BSA responsibilities in your bank.  Read more

City National Bank Announces the Retirement of Eugene Giscombe as Chairman

City National Bancshares Corp., holding company of City National Bank, announced that Chairman of the Board Eugene Giscombe will retire after 22 years of service, including 16 years as chairman, effective December 31, 2013.    Read more

Nancy E. Graves Elected to Junior Achievement State Board of Directors

Junior Achievement of New Jersey (JANJ) announced that Nancy E. Graves of Pascack Community Bank and Pascack Community Bancorp, Inc. has been elected to their State Board of Directors.

Graves currently is president, CEO & board director of Pascack Community Bank and Pascack Community Bancorp, Inc. and brings over 30 years of outstanding banking experience with her to the bank.   Read more

Heritage Community Bank Welcomes Payne

Heritage Community Bank announced the hiring of Jamie M. Payne.

Payne has approximately 16 years of commercial real estate and construction lending experience  and specializes in non-owner occupied (investment) mortgages and construction lending.   Read more

AJC New Jersey Metro Region Honors Cummings with National Human Relations Award

The Metro New Jersey Region of American Jewish Congress (AJC) honored Kevin Cummings, president and chief executive officer of Investors Bank with its prestigious National Human Relations Award at the Hilton at Short Hills. Cummings is seen accepting AJC’s National Human Relations Award. Pictured from left to right: Melvin Feigenbaum, Joseph Moeller, Amy Reisen Freundlich, Kevin Cummings, Paul Silverman and Christopher Martin.   Read more

Amboy Bank Hosts Annual Food Drive

In the month of November, all 23 offices of Amboy Bank collected food and household items for food banks in their branch area. Every Amboy office manager selected a food bank to collect for in their community. In many cases Amboy has a strong relationship with the organizations including Elijah’s Promise, the Old Bridge Food Bank and the Samaritan Center.

Percy Williams, volunteer at the Old Bridge Food Bank; Anthony Detoro, Amboy VP branch administration; Gregory Scharpf, Amboy senior vice president and Jennifer Flaherty, Old Bridge Food Bank load up two vans full of food collected at the Administration Building during Amboy’s food drive.    Read more

Kearny Federal Participates in 55 Kip Center's Annual Festival of Trees & Wreaths


Kearny Federal Savings Bank was one of many local organizations participating in the 55 Kip Center’s Annual Festival of Trees and Wreaths. Kathy Duffy, branch manager and Liz Prokos, assistant branch manager of Kearny Federal’s Rutherford office, presented the branch’s hand-decorated wreath to Peggy Letsche, executive director of the Center. From left to right:  Liz Prokos, Peggy Letsche, and Kathy Duffy. Read more

NVE Bank Spreads Thanksgiving Cheer to Neighbors in Need

NVE Bank coordinated a Thanksgiving food drive during the month of November to benefit the families who rely upon the Office of Concern Food Pantry located at St. Cecilia’s church in Englewood.  Through donations by staff and customers, NVE was able to donate over 70 bags of food to the pantry, whose volunteer staff supply weekly groceries to over 800 families in Englewood and surrounding communities.  Staff members also volunteered at the Pantry, distributing 700 turkeys to needy families in the days prior to Thanksgiving.

Pictured left to right:  NVE President Rob Rey; Office of Concern Volunteer John Nolan; NVE Staffers Nicole DeFero and Martin Rios and Office of Concern Volunteer George McKenna
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The Provident Bank Foundation Presented $10,000 Check to Rising Tide Capital

The Provident Bank Foundation presented a check in the amount of $10,000 to Jersey City-based Rising Tide Capital, a Jersey City-based organization that helps entrepreneurs start and grow successful businesses.

Pictured from left to right: Michael Caslin, managing director of strategy and development of Rising Tide Capital; Alfa Demmellash, chief executive officer of Rising Tide Capital; Alex Forrester, chief operations officer of Rising Tide Capital; Jane Kurek, executive director of The Provident Bank Foundation; Konstantin Yusipov, vice president and area manager of Provident Bank, and Jay Savulich, managing director of programs of Rising Tide Capital.   Read more

Regal Bank Employees Walk to Make a Difference

Team Regal Bank poses for a group photo at the Heart Walk in Essex County. The Heart Walk is the American Heart Association’s premiere event for raising funds to save lives from heart disease and stroke. Regal Bank employees raised $6,867 for the Heart Walk campaign, which will help the AHA deliver up-to-the-minute research to doctors, support groundbreaking stroke and pediatric heart research, and provide critical information to the public. Read more

Join the Fight Against Distracted Driving!

We’re taking a stand against distracted driving, and we need your help. Why join the fight against distracted driving? In a recent study by associate member Plymouth Rock, approximately HALF of the passengers polled have asked a driver to stop texting. By signing the Distracted Driving Pledge, you can help make our roads a safer place by committing to stay focused on the road 100% of the time you are behind the wheel. Let's work together to stop accidents before they happen.   Read more

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

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