If this page doesn't display properly in your email, click here. July 16, 2014
New Jersey Bankers Association
Legislative Update
Applications Bulletin
Regulatory Bulletin
Buy-Sell Loans/Participations
Web Seminars
Members Urged to Support Kevin Cummings and Christopher Martin in 2014 FHLB Board Elections

The Federal Home Loan Bank of New York has announced the commencement of the 2014 election process for its Board of Directors. Among the vacancies are two New Jersey seats with terms expiring December 31, 2014.

Following an outreach to the membership to identify those interested, the NJBankers Board of Directors announced in May that it had named two recommended candidates and urged member support of Kevin Cummings, president & CEO, Investors Bank, and Christopher Martin, chairman, president & CEO, The Provident Bank. Cummings is currently completing the unexpired term of Ronald Hermance following his resignation from the board and the second seat is currently filled by Kevin Lynch, who is not eligible for re-election. 

Members eligible to vote in the election are urged to support Cummings and Martin during the election period later this year. For additional information on the election, please click here.

A Rifle-Shot Approach to Reg Relief
Frank Keating, president and CEO, American Bankers Association

One of the things I often hear when I have the opportunity to speak with you and your colleagues at your state bankers association’s annual convention is how new regulatory requirements are making it harder to lend and serve your communities.

We know your regulatory burden is excessive – the Dodd-Frank Act has delivered 7,000 pages of new rules and guidance so far, and there’s more to come. The cumulative impact across the banking industry and across our economy is staggering.

Banks’ compliance obligations also create unwieldy juxtapositions. When it comes to mortgage lending and servicing rules, for example, some banks are finding they must choose between serving customers and protecting themselves legally.

ABA believes the solution to this seemingly intractable problem lies in what we call “tailored regulation.”  By that we mean government policies that recognize the diversity of the banking industry and the communities you serve. Rules that correspond to a bank’s charter, business model, geography and risk profile help to avoid the negative economic consequences of unsuitable, inefficient bank regulation.

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CFPB Issues Ability-to-Repay Interpretive Rule

The Consumer Financial Protection Bureau  (CFPB) has issued a new interpretive rule clarifying  that when a borrower dies, the name of the borrower's heir generally may be added to the mortgage without triggering the CFPB’s Ability-to-Repay rule. The interpretive rule can also apply to other transfers, including transfers resulting from divorce or legal separation in addition to other family-related transfers. The interpretive rule does not require that the creditor or assignee of the loan accept the change of obligor(s); it facilitates such a change when the creditor or assignee is willing to accept it.

The clarification came in response to industry concerns that creditors may be obligated to determine the ability to repay of a successor-in-interest assuming a deceased borrower’s mortgage.

For more information and to read the rule, click here.

Other Industry Meetings
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Upcoming Conferences - Mark Your Calendar
View Upcoming Events
Director Online Training
View Upcoming Events

Senior Management Conference

Senior Management Conference
Wednesday-Friday, September 10-12, 2014
Stockton Seaview Hotel and Golf Club, Galloway, NJ 08205

The Senior Management Conference brings managing officers, senior executives and directors together for an educational and networking experience that focuses on the challenges facing banks of all charters in the tough economic and regulatory environment in which they all operate in today. Though there are global issues that affect economic revival, the Senior Management Conference distills and extracts the information to make it usable and practical for a financial institution in New Jersey.

The NJBankers Senior Management Conference provides the requisite knowledge and competencies for your financial institution’s success. The conference will include: a Legal Update; a Global Economic Update; a BSA/AML Panel; luncheon session focusing on Branding Through Financial Literacy; Cyber Security Hot Topics; a Federal Home Loan Bank of New York Update; Managing Your Investor Base as well as a session on How to Measure Your Customer Experience.  It will also include a keynote address by Ronald Brownstein, Journalist, Historian, and Political Observer on "American Politics, Today and Tomorrow".

We encourage you, your senior managers and directors to take advantage of this opportunity to attend a timely, informative program designed to help you shape your bank’s future.

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COSO 2013 Seminar

Join us for Summer School!
COSO 2013 Seminar
"What's Changed with COSO and How Can COBIT Help?"
Wednesday, August 13, 2014
Crowne Plaza Monroe, Monroe Township, NJ
3 CPE Credits Will Apply!

Presented by:
New Jersey Bankers Association
In conjunction with

The business landscape has evolved over the last twenty years since the Committee of Sponsoring Organizations of the Treadway Commission (COSO) released its original Internal Control – Integrated Framework.  The evolution’s largest driver has been technology.  In May 2013, COSO released an updated Internal Control Framework, revitalizing the guidance and making it more relevant to the current business environment.  This seminar will provide insights to the new COSO guidance and the relevance of the COBIT (Controls Objectives for Information Technology) framework. 

This half-day seminar will conclude with a panel discussion of bankers, auditors and consultants who will be able to share their implementation success stories and pitfall avoidance strategies.

Presentation highlights include the changes in the COSO five components, identifying the 17 principles and where they align with the components.  Specific attention will be paid to:

• Key changes to the COSO framework
• The impact to reporting on internal control over financial reporting
• The COSO seventeen principles and how they impact internal control
• How to build an IT governance and management framework with COBIT
• Timeline of implementation

Who Should Attend:
CFOs/Chief Risk Officers/Internal Auditors/Information Security Officers/Compliance Officers

Click here for program and registration information

NJBankers 2014 Annual Golf and Networking Outing

NJBankers 2014 Annual Golf and Networking Outing
Monday, August 11, 2014
Fiddler's Elbow Country Club, Bedminster, NJ

Join NJBankers for a great day of networking and a great day of golf.  Two course exclusivity for NJBankers tournament means quicker play time and more face time on our beautiful host course, Fiddler's Elbow in Bedminster, NJ!

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Associate Member "Asphalt in August" Picnic

  Associate Member "Asphalt in August" Picnic
  Tuesday, August 19, 2014 (Rain or Shine)
  11:30 a.m. to 2:30 p.m. - Open House
               NJBankers Office, Cranford, NJ

It’s that time of year again.  Time for NJBankers 3rd Associate Member “Asphalt in August” Open House Picnic! 
We will again be offering the picnic in conjunction with two "Meet and Greets" with Association staff at 10:30 a.m. or  2:30 p.m.
Come for the Meet and Greet—Come for the picnic or come for both!

Look for further information this summer!

5th Annual Women In Banking Conference

   5th Annual Women In Banking Conference
   Wednesday, April 22, 2015  
   The Palace at Somerset Park, Somerset, NJ

Make sure you mark your calendars for the 2015 Women in Banking Conference! 

What attendees said this year…

"This is my first time attending the conference and this was extremely innovating and inspiring; took so much away from this event"

"Learned many useful things to continue to be a great manager and be a great leader"

"Terrific! Proud to be a part of this"

NJBankers is pleased to announce our first 2015 Diamond Sponsor!

Thank you for your continued support!

FDIC and OCC Present Joint Mutual Forum

July 23 - 24, 2014
OCC Headquarters, Washington, DC

The Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency are presenting the 2014 Joint Mutual Forum.  The intent of the Forum is to promote the operations of mutual depository institutions and discuss industry trends. Attendees will have the opportunity to meet with executives from other mutual organizations as well as senior management from the OCC and the FDIC, including FDIC Chairman Martin J. Gruenberg and Comptroller of the Currency Thomas J. Curry.

Presentations will address topics of interest to the mutual industry, including the latest legislation, an economic outlook, cybersecurity challenges and regulatory compliance updates.  Breakout sessions will focus on interest rate risk, third party relationships and mutual holding companies.  Mutual bank executives are encouraged to communicate their strategies and successes to the industry, federal policy makers and others.

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Columbia Bank Announces the Appointments of Gordon Gorab to Senior Vice President and Mayra Rinaldi to Corporate Secretary


Thomas J. Kemly, president and CEO of Columbia Bank, has announced that Gordon Gorab has been appointed senior vice president, commercial lending middle market manager and that Mayra Rinaldi has been appointed corporate secretary.

In his new position, Gorab will manage the bank’s new Middle Market Department and will be responsible for developing and originating Commercial and Industrial (C&I), Real Estate and Construction Loans. Prior to joining Columbia Bank, Gorab served in a variety of commercial banking and relationship management positions with PNC Financial Services Corp., Inc. Gorab graduated from Washington College in Maryland where he earned a Bachelor of Arts Degree in economics and from Fairleigh Dickinson University with a Master’s Degree in finance. 

Rinaldi joined Columbia Bank in 2000 as a teller in the bank’s Linden office.  She was promoted to head teller in 2006 and was later named assistant branch manager.  In 2011, she was promoted to the newly-created position of BSA/AML supervisor. Rinaldi graduated from Kean University where she earned a Bachelor of Science degree in finance with academic honors.

Jeana M. Piscatelli Elected Vice Chair and James S.Vaccaro Elected Treasurer of Monmouth University


Monmouth University's Board of Trustees has elected Jeana M. Piscatelli, principal, Wells Fargo Business Banking, as vice chair and James S. Vaccaro, president & CEO, Manasquan Savings Bank, as Treasurer.

Piscatelli joined Wells Fargo’s Business Banking Division in January 2014 and is based in Summit, N.J.  Piscatelli is responsible for expanding the bank’s portfolio with a concentration in Investment Real Estate and Healthcare.  She previously served as the director of Institutional Foreign Exchange (FX) Sales and Cross-Sell for two years within Wells Fargo’s International Division in New York.

Vaccaro, recently elected as second vice chairman of NJBankers,  joined Manasquan Savings Bank 2012, and previously served as the executive vice president and COO of Springpoint Senior Living, a nonprofit provider of senior housing and health care. He has more than 30 years of experience in the financial and insurance industries, having served as chairman/president/CEO of Central Jersey Bancorp, among others.

Stacey S. DeAlmeida of First Choice Bank Graduates from ABA Stonier Graduate School of Banking at the University of Pennsylvania - Wharton School

First Choice Bank is pleased to announce that Stacey S. DeAlmeida has graduated from ABA Stonier Graduate School of Banking at the University of Pennsylvania - Wharton School. The Stonier program is specifically designed to prepare senior-level bankers and regulators for the decision-making and oversight required to navigate in challenging times. The school is focused on providing the knowledge and skills to recognize and address high-level management issues, and implement effective solutions.

Ted Economou Joins TD Bank as Regional Sales Representative in TD Merchant Services for Hunterdon and Somerset Counties

TD Bank has named Ted Economou as assistant vice president, regional sales representative in TD Merchant Services, based in Bridgewater, N.J. He is responsible for providing a range of customized solutions for cashless payments, including credit card processing, e-commerce, mobile payments and gift and loyalty card programs, to new and existing retail and commercial customers at 18 TD Bank stores throughout Hunterdon and Somerset counties in New Jersey.

Economou has eight years of experience in banking and merchant services and also has owned his own business. Prior to joining TD Bank, he served as a Merchant Service Representative and a Business Banker in Hunterdon, Somerset and Middlesex counties. He is a graduate of the City University of New York.

Grand Bank Celebrates Graduates of the Bank's Financial Scholars Program

Pictured (l to r) are Brian Bittings, Ewing Township Schools District supervisor, Financial Literacy Program Students, Bonnie Rendina, compliance analyst for Grand Bank, N.A.,  James Yensel, vice president of Grand Bank N.A., Alicia Hewlett, financial literacy teacher

Grand Bank NA celebrated graduates of the bank’s Financial Scholars Program, an ongoing initiative to bring financial literacy education to the Ewing and Trenton High Schools.

In a class certification ceremony at Ewing High School, the bank certified 20 students who successfully completed the New Jersey Financial Scholars Program.  At Ewing High School, over 80 students reached certification in the course this academic year and Grand Bank’s New Jersey Financial Scholars Program has reached 1,165 students in the Trenton region over the last three years.

This Financial Program is a web-based program that uses the latest in new media technologies-video, animations, 3-D gaming, avatars and social networking- to bring complex financial concepts to life for today’s digital generation.  Through the EverFi platform, students were taught and assessed over 600 topics in financial education, allowing them to become more informed, responsible citizens.

Grand Bank, N.A. has partnered with NJBankers endorsed provider EverFi, Inc. to bring the interactive financial management program to Ewing High Schools, as well as the high schools in the Trenton Public Schools.

Haddon Savings Bank and Junior Achievement Present to the "Future Entrepreneurs" of the Fifth Grade

Volunteers from Haddon Savings Bank and Junior Achievement recently had the pleasure of presenting to the “future entrepreneurs” of the fifth grade class of Coopers Poynt School, located in Camden, New Jersey. The students eagerly participated in the discussion expressing many thoughts and ideas of their own in running a successful business. This was one of many community oriented activities that the bank participates in that serves grade and high school students, seniors and small businesses.

Joseph M. Skowronski, senior loan officer, Haddon Savings Bank, noted that “it was amazing how quickly these young students appreciated the challenges of running a successful business.”  He credited their teacher, Ms. Robinson, in fostering learning of valuable social and life skills and building good character of her students.  Go Class of 2021!

Millington Savings Bank Awards College Scholarships to Outstanding Graduating Seniors

Pictured (l to r) above at the scholarship luncheon: Brendan Cox (Ridge High School), Michael A. Shriner, Hannah Alexander (Watchung Hills Regional High School) and Christopher Carle (Bridgewater-Raritan Regional High School).

Michael A. Shriner, Millington Savings Bank president & CEO, recently presented $500 scholarships to graduating seniors from local area high schools.  Students were selected on a variety of criteria, including academic achievement, exemplary participation in extracurricular activities and work experience. Shriner presented three of the scholarship recipients with their awards during a special luncheon.  

Northfield Bank Support the Banking for a Cause Program

 Northfield Bank back office employees make a donation in order to dress down one day each month to support its “Banking for a Cause” program.  Banking for a Cause is a bank-wide fundraising program that raises money for local charities for one month each quarter.  In addition to the dress-down fundraisers, branches conduct various fundraising activities in order to raise money for their specific charity.  The Banking for a Cause New Jersey charity for this past quarter was Autism Speaks.

Rutgers Office of Continuing Professional Education (OCPE) Invites you to attend 2nd Annual Training Showcase

Rutgers Office of Continuing Professional Education (OCPE) presents 2nd Annual Training Showcase
July 17, 2014
9:30 a.m. - 10:00 a.m. Registration and Breakfast
10:00 a.m. - 10:40 a.m. Opening Remarks
10:50 a.m. - 1 :50 p.m. Sessions
1:50 p.m. - 2:30 p.m. Q&A
New Brunswick, NJ
The Office of Continuing Professional Education (OCPE) invites you to attend our Training Showcase. This workshop will introduce you to our premier instructors and the courses that we can offer your organization.

Attendees will have the ability to:

  • Network with other professionals
  • Attend six 20 minute training sessions to sample our courses
  • Meet with OCPE staff and our instructors
  • Learn about grant and training opportunities
  • Schedule convenient Training dates 

Click here for Course Selection and Descriptions 

For Registration and Information please call:
Felicia Conte - 732-932-9271 ext. 662 –
conte@njaes.rutgers.edu  or click here to register.

Eighth Annual Mid-Atlantic Anti-Money Laundering (MAAML) Conference

The Eighth Annual Mid-Atlantic Anti-Money Laundering (MAAML) Conference
August 11-14, 2014
Mayflower Renaissance Hotel, Washington, DC

This conference will focus on current money laundering trends, successful investigations as well as lessons learned. The conference will additionally serve as an opportunity for law enforcement and industry partners to network and establish working relationships that will help secure our country and shutdown vulnerabilities within the financial and economic sectors.

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Endorsed Service Provider Allstate Offers Second Quarter 2014 Promotion

NJBankers is pleased to offer to its membership the second quarter "2014 Spring into Summer Promotion" from our Endorsed Service Provider Allstate New Jersey Insurance Co. As a benefit to your employees, Allstate will provide a free $20 pre-paid gas card when they get an auto quote from Allstate. Receive an additional $10 pre-paid gas card for referrals to Allstate. Please click here to download the flyer and a quote* sheet.  If your bank/company would like hard copies, please contact Neil Greco directly at 973-364-8040 or njgreco@allstate.com.

*Please note quotes apply to NJ residents only.

Endorsed Service Provider PMC Presents National IRA Compliance Seminar

See IRAs in a whole new light. With over two dozen intensive hands-on workshops led by PMC, America’s foremost IRA experts.  As an endorsed service provider of NJBankers, PMC is offering a 10% registration discount to all NJBankers members.

Click here to register and for more information

NJBankers announces the PMC Regional IRA Tour schedule

Locations in New Jersey include:
October 29 – 30 , Resorts, Atlantic City, NJ
November 12 -13, Holiday Inn, Somerset-Bridgewater, NJ

PMC's 2-day IRA training events provide the most current information on IRAs and the rules and regulations surrounding them. Nationally recognized authorities on IRA training, PMC's instructors are skilled at presenting complex information and making it easy to understand and apply. Read More or Register

Please note:  NJBankers members get a 10% discount on all training provided by PMC!

E-Advertising with NJBankers Makes $en$e

The NJBankers Bulletin reaches over 3,500 subscribers in each weekly issue. E-Advertising with NJBankers makes sense.  Dollar$ and $en$e!  Your firm can benefit from cost-effective advertising that targets the New Jersey banking industry. At this time, your company can purchase any four issues for only $600.

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NOTICE: The Bulletin will not be published on 7/23/14. The next Bulletin will be published on 7/30/14
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