If this page doesn't display properly in your email, click here. July 30, 2014
New Jersey Bankers Association
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NJBankers Team Participates in the 2014 Bankers Build

The New Jersey Bankers Association joined association members in the 2014 Bankers Build with Coastal Habitat for Humanity. More than 200 bank employees from 21 New Jersey banks, will donate approximately 2,000 volunteer hours this summer to help families return to their homes damaged during Superstorm Sandy. The NJBankers team traded in their suits for the day to assist in the rebuilding of a Neptune home that was damaged by Sandy.

After a successful day, pictured ( l to r) Erin Suckiel, Lauren Barraza, Jenn Zorn, Michael Affuso, Katie Davey, John McWeeney, Cindy Zaccaro, Jim Meredith and Cris Goncalves

 
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.

 
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Let's Cut Call Report Paperwork Down to Size
By: Camden R. Fine, president/CEO, Independent Community Bankers of America

Regulatory paperwork continues to occupy far too many community bank resources that could be dedicated to improving local communities, and the problem is only getting worse.

A new ICBA survey spotlights the tangible impact of one of the more onerous burdens that is only getting heavier—the quarterly call report. While regulators are proposing to yet again expand call report requirements for all banks, ICBA’s new survey details the impact of existing reporting rules.

Read More

 
Fed Beige Book: Economy Continues to Expand at a Moderate to Modest Pace

Reports from the 12 Federal Reserve Districts indicated that economic activity continued to expand since the previous report in April 2014. The pace of economic growth was characterized as moderate in the New York District. The Philadelphia District reported modest expansion. Most Districts were optimistic about the outlook for growth.

Read More

 
CFPB Proposes Amendments to HMDA Reporting Requirements

The Bureau of Consumer Financial Protection (CFPB) has published a proposed rule amending Regulation C to implement amendments to the Home Mortgage Disclosure Act (HMDA) made by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). The CFPB proposes to add several new reporting requirements and to clarify several existing requirements. It is also proposing changes to institutional and transactional coverage under Regulation C.

Read More

 
CFPB Proposal Designed to Give Consumers Opportunity to Publicly Voice Complaints about Financial Institutions

In related news, the Bureau of Consumer Financial Protection (CFPB) currently discloses complaint data regarding consumer financial products and services via the Consumer Complaint Database, its web-based, public database. The CFPB is proposing to expand that disclosure to include unstructured consumer complaint narrative data.  Only narratives with opt-in consumer consent and personal information scrubbing would be subject to disclosure.

Read More

 
FDIC Issues Proposal for Revision of Insurance Assessment Method

The FDIC has issued FIL-37-2014 to announce the agency's approval of a proposed rule that would revise the FDIC's risk-based deposit insurance assessment system to reflect changes in the regulatory capital rules that go into effect in 2015 and 2018.

Read More

 
FDIC Reminder for Call Report Due June 30

The FDIC has also issued Financial Institution Letter (FIL) 38- 2014 to remind financial institutions that the June 30, 2014, Call Report must be received by today, Wednesday, July 30, 2014.

Read More

 
OCC Proposes Schedule Shift and Adjustments to Regulatory Capital Projections

The Office of the Comptroller of the Currency (OCC) has issued Bulletin 2014-33 which proposes an adjustment to the timing of the annual stress testing cycle and clarifies the method used to calculate regulatory capital in the stress tests for national and federal savings associations with more than $10 billion in assets. 
 

Read More

 
FASB Issues Proposals to Eliminate Requirements for Extraordinary Items

The proposed FASB Update looks to reduce cost and complexity by eliminating the concept of “extraordinary items.” Current GAAP requires institutions to evaluate whether an event or transaction is an extraordinary item and, if so, to separately present and disclose the item. The concept of extraordinary items, however, causes uncertainty because it is unclear when an item should be considered both unusual and infrequent. The proposed Update would remove the concept of extraordinary items from GAAP.

Read More

 
NJBankers Senior Management Conference not to be Missed!

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

HOTEL RESERVATIONS:  Please note the following room rates apply to NJBankers conference.  Non Smoking King or Double Room - $169.00

Room reservations may be made by calling Stockton Seaview Hotel and Golf Club Reservations Department at:  609-652-1800 or 855-894-8698 and identifying yourself as an attendee of NJBankers Senior Management

Now open for your convenience is an online reservation portal to make your reservations with Stockton Seaview Hotel.  Please follow the provided link:  https://resweb.passkey.com/go/NJBankersSMC

ADVERTISING: Advertising is available in the Conference Program Guide.  Please contact Emily DeMasi at 908-272-8500, ext. 610 or edemasi@njbankers.com for details.

SPONSORS:  We encourage associate members to take advantage of the sponsorships available.  Sponsorships are a cost-effective way to raise the profile of your firm as well as reach the banking delegation from throughout the entire state of New Jersey.  For further information, please contact Jenn Zorn at the NJBankers office or via email at jzorn@njbankers.com.

PROGRAM HIGHLIGHTS: (Full Program Available Online):

Thank you to our sponsors:

PLATINUM
Bank Financial Services Group
Bankers Cooperative Group, Inc.
BDO USA LLP
Federal Home Loan Bank of New York
McGladrey, LLP
Peapack-Gladstone Bank

GOLD
Christensen Tamburri Communications LLC
Merchant E-Solutions, Inc.
Valley National Bank
Wells Fargo Bank, N.A.

SILVER
Atlantic Community Bankers Bank
Crowe Horwath LLP
Keefe, Bruyette & Woods, A Stifel Company
Lakeland Bank
Locke Lord LLP
PNC Bank, N.A.
The Prudential Insurance Company of America
Riker Danzig et al.
Sandler O'Neill + Partners, L.P.

PATRON
Accume Partners
Two River Community Bank

Please see our website to download the full conference packet detailing program, hotel, registration and sponsorship information by following the below link.

Click Here for program  and registration information  

 

Read More

 
COSO 2013 Seminar Provides Insights to New COSO Guidance

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 Sure to be Informative and Fun

  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!

 
Alexis Schoerner Appointed Vice President and Regional Branch Manager of Highlands State Bank

Alexis Schoerner has been appointed to vice president/regional branch manager at Highlands State Bank. Schoerner  will be serving at the Bank’s Denville office. She brings more than 25 years of business development experience with the past 20 years in the Denville/Rockaway area.

Schoerner joined Highlands State Bank in June 2014.  In September 2008, she served Heritage Community Bank as vice president/regional manager in Denville where she developed business relationships while playing a key role in development of policy and procedures and the daily operations of a DeNovo organization.

 
Senator Christopher "Kip" Bateman New Board Member at Fulton Bank of New Jersey

Senator Christopher “Kip” Bateman has joined the board of directors at Fulton Bank of New Jersey.

Bateman currently serves as a Senator and Deputy Conference Leader in the NJ State Legislature.  He is also an Attorney/Partner at DiFrancesco, Bateman, Coley, Yospin, Kunzman, Davis & Lehrer.
   
Bateman is a graduate of Ithaca College where he earned his B.A. in political science and history and earned is J.D. from Seton Hall University School of Law.  He is very active in his community and his legislative service includes General Assembly, Assistant Republic Leader, Assistant Republican Whip, Majority Whip and Assistance Majority Whip.

 
Investors Bank Employees Attain CRCM Certification

Three Investors Bank employees have attained the Certified Regulatory Compliance Manager (CRCM) certification.  After traveling to San Diego, CA to complete the ABA’s Intermediate Compliance School, and sitting for the exam, all three successfully passed.  CRCM is a recognized standard of knowledge and competence for regulatory compliance professionals working in the financial services industry.
 

L to R: Robert Carrano, Esq., CRCM, VP compliance officer; Denise Garry, CRCM, AVP compliance officer; and  Kevin Georgetti, Esq., CRCM CAMS, VP director of compliance/CRA officer.
 

 
Kearny Federal Announces Appointments to Senior Management Team

Seven vice presidents of Kearny Federal Savings Bank have been appointed to senior vice presidents as a part of the Bank’s expanded organizational structure.

The new team includes:

William Clement has been appointed SVP/director of C&L lending. A 30 year banking industry veteran, Clement previously worked for Provident Bank as first vice president within its commercial lending division. Clement received his Bachelor’s degree in finance from Fairleigh Dickinson University and is a graduate of the National Commercial Lending School at University of Oklahoma.

Linda Hanlon
has been appointed SVP/director of retail banking after 12 years with the Bank, most recently in the capacity of first vice president/director of retail banking. Prior to joining Kearny Federal, Hanlon was vice president and regional operations manager for the NY/CT area of Wachovia Bank.

Cheryl Lyons
has been appointed SVP/assistant secretary/loan servicing, after having served as first vice president/assistant secretary/loan servicing for several years. A 28 year veteran of banking, Lyons is a Fairleigh Dickenson University graduate.

Kimberly Manfredo
has been appointed SVP/director of human resources/assistant secretary after serving as first vice president/director of human resources/assistant secretary. Manfredo has nearly 30 years of banking industry experience with the last 20 in corporate benefits and human resources.

Timothy Swansson
has been appointed SVP/director of IT, after serving as first vice president/director of IT. Swansson had served as IT administrator for Atlantic Technology Systems. He attended Curtin University of Technology in Australia.

Keith Suchodolski
has been appointed SVP/controller, after serving as first vice president/controller. With 14 years of banking experience, Suchodolski has spent the last nine years as a controller for both commercial and community banks. He has an M.B.A. in finance from Fairleigh Dickenson University.  

Mary Webb
has been appointed SVP/operations, after serving as first vice president/operations. Webb has been with the Bank for 13 years. She graduated with a Bachelor’s degree in accounting from Kean University.

 
Gregory Cieslik Promoted to Senior Relationship Manager of TD Bank in Greater Philadelphia

TD Bank has promoted Gregory B. Cieslik to vice president/senior relationship manager in commercial lending. Cieslik  is responsible for managing existing relationships and growing a commercial loan portfolio in Greater Philadelphia.

He has 17 years of commercial banking and lending experience having served in positions of increasing responsibilities. Cieslik received an M.B.A. in finance  and an undergraduate degree  from Rider University
.

 
Valley National Bank Promotes Kuhnert and Roio to Assistant Vice Presidents/Commercial Loan Officers

    

Steven Kuhnert has been promoted to assistant vice president /commercial loan officer in Valley’s commercial lending team. Kuhnert joined the Bank as a credit underwriter.  After completing the Bank’s credit underwriting training program, he joined the Wayne Commercial Lending Team. His responsibilities will continue to include the origination, development and evaluation of new commercial lending opportunities, as well as maintaining existing relationships in the portfolio. Kuhnert received a Bachelor’s degree in finance with a minor in accounting from Marist College. 

Cassandra Roio has been promoted to assistant vice president / commercial loan officer in Valley’s commercial lending team. Roio previously served in the Nutley branch and completed the Bank’s credit underwriting training program before joining the North Plainfield commercial lending team. As a commercial loan officer, her responsibilities will continue to include the origination, development and evaluation of new commercial lending opportunities, as well as maintaining existing relationships in the portfolio. Roio received a Bachelor’s degree in business administration from Montclair State University. 

 
Atlantic Stewardship Bank Provides Lunch for Paterson Habitat for Humanity Kids Kamp

The Paterson Habitat for Humanity held its annual Kids Kamp which is geared toward children ages 5 to 12. The program serves as an introduction to Habitat for Humanity, teaching children how to help their neighbors in ways that are practical and meaningful. The five hour program is filled with fun activities including a visit to a Habitat construction site, arts and crafts and a field trip to the Paterson Great Falls. Each camper also received a healthy lunch provided by Atlantic Stewardship Bank.

 
BCB Community Bank Team Member Deploys to the Middle East

 Members of the BCB Community Bank loan department take time out to wish one of their own, Jonathan Hall, (pictured center wearing tie and glasses), good luck as he prepares to be deployed to the Middle East as a member of the United States Army

 
Columbia Bank Foundation Helps Burlington County Habitat For Humanity

The Columbia Bank Foundation recently presented a $7,000 community grant to Burlington County Habitat for Humanity.  The grant will be used to fund Habitat’s affordable housing projects throughout Burlington County.

Taking part in a check presentation at the Habitat for Humanity offices are (L to R) Bill Cossaboon, regional vice president/commercial lending; Lori Leonard, Burlington Habitat’s executive director; Judy Sailer, Burlington Habitat’s director of operations/resource development; and Theresa Freedman, the Bank’s Medford branch manager.
 

 
Oritani Bank Sponsors Vehicles for North Jersey Friendship House

 he OritaniBank Charitable Foundation granted $55,000 to North Jersey Friendship House, a non-profit organization that provides a safe haven for individuals with varying levels of disabilities to receive counseling, vocational training and eventual job placement assistance.

This grant was used to purchase three minivans. One van will be dedicated to the adult autism program and will transport participants to and from internships and life skills outings. Another van will be utilized as part of the vocational supportive services for both Custodial Learning for Employment and Networking and Innovative Culinary Opportunity Network programs. The third will be used to help with supportive employment.
Photo

(L to R): Kevin Lynch, president, OritaniBank Charitable Foundation and Jack Doyle, chief executive officer, Friendship House.

 
Provident4Women Online Community is Launched

The Provident Bank has launched Provident4Women, an online community to engage and help women.

On the Provident4Women website (
www.provident4women.com), women will discover insights from women for women about what’s most important to them:  family & home, career and business, life goals and investments. Additionally, women can participate in the conversation on the Provident4Women LinkedIn group at www.linkedin.com/groups/Provident4Women-8112364  and Facebook page at  www.facebook.com/Provident4Women.

Each month, new videos and original and curated content will be posted to all three Provident4Women locations. The Provident4Women Team—20 women with diverse perspectives and over 100 years of wide-ranging experiences—will share practical insights to help women make decisions to enhance their lives.

 
Provident Bank Foundation Provides Cancer Support Community Central NJ with a $5,000 Grant

The Provident Bank Foundation has provided a $5,000 grant to the Cancer Support Community Central NJ (CSCCNJ) in support of C.H.E.F.S (Cooking, Healthy Eating and Food Strategies Program). The program helps individuals achieve sustained behavioral and lifestyle changes in the food they are eating and techniques in cooking cancer-fighting foods. C.H.E.F.S. cooking classes focus on the preparation of whole, plant-based foods while explaining the evidence that supports their cancer-fighting properties.

Shaunna Rubin of The Provident Bank Foundation and Sandra Kennedy, area manager, Provident Bank attended the first C.H.E.F.S. class. Both have been affected by cancer in different ways and were able to gain new insights.

 
Roselle Savings Bank Marks 125th Anniversary with Prizes

Roselle Savings Bank celebrated its 125th anniversary year with a series of drawings for Smart TVs, repeating a tradition that began in 1957 when the Bank awarded a free black & white TV at the opening of their current headquarters location. The prizes commenced with drawings from the Bank’s Roselle, Bernardsville, Cranford and High Bridge locations.

Pictured accepting the new 42” flat panel Smart TV is the Bernardsville branch winner, Stacey Demas of Basking Ridge (second from left).  She is accompanied by her husband Leonidas.  Presenting the prize are Roselle Savings Bank Senior Vice President Janice Ritz (far right) and Bernardsville Branch Manager Maureen Wright.  

 
Sussex Bank Operations Moving to New Regional Office and Corporate Center

 Sussex Bank has announced that it will be moving its Sussex County operations to a new regional office and corporate center in Wantage, NJ. The office will include a regional commercial lending team, deposit & loan operations, administrative and executive offices.  The new regional office in Sussex County is located at 15 Boulder Hills Blvd., in the Town Center at Wantage Plaza.

 
Unity Bank Car Show Raises $5,600 for Family Promise

Unity Bank recently donated $5,600 to Family Promise of Hunterdon County and Family Promise of Warren County. The proceeds are from the 8th Annual Cruisin’ Bob's Classic Car Show. The funds were raised through sponsorships, food sales and registration fees to compete in the classic car competition.

The car show was a community effort thanks to local business sponsorships, which helped make the show a success.

 
Pentegra Retirement Services Announces New Board Appointments

Pentegra Retirement Services President and CEO John E. Pinto announced recent appointments to its boards of directors.

José R. González has been named to the Pentegra Defined Benefit Plan for Financial Institutions Board of Directors. Gonzalez is president/CEO of the Federal Home Loan Bank of New York.

Cindy L. Konich has been named to the Pentegra Defined Benefit Plan for Financial Institutions Board of Directors. Konich is president/CEO of the Federal Home Loan Bank of Indianapolis.

Samuel L. Laverack has been named to the Pentegra Defined Benefit Plan for Financial Institutions Board of Directors. Laverack is president/CEO of Meredith Village Savings Bank, Meredith, NH.

Alton K. McRee has been named to the Pentegra Defined Contribution Plan for Financial Institutions Board of Directors. McRee is president/CEO of Fidelity Homestead Savings Bank, New Orleans, LA.

Richard S. Swanson has been named to the Pentegra Defined Contribution Plan for Financial Institutions Board of Directors. Swanson is president/CEO of the Federal Home Loan Bank of Des Moines.

Pentegra’s boards of directors are comprised of its clients -- both current and former presidents and CEOs who use Pentegra’s retirement plan products and services for their own organizations. These boards include: Pentegra Services, Inc.; Pentegra Defined Benefit Plan for Financial Institutions; Pentegra Defined Contribution Plan for Financial Institutions; Pentegra Trust Company; and Pentegra Retirement Trust.

 
Dress for Success Morris County

Spearheaded by Counsel Stephanie Wolfe, attorneys and staff from Riker Danzig Scherer Hyland & Perretti LLP donated over three racks of clothing, shoes and handbags to benefit Dress for Success Morris County.  Dress for Success promotes the economic independence of disadvantaged women by providing professional attire and a network of support and career development tools to help women thrive in work and in life.


 

First row seated ( l to r): Richelle Delavan, Anne Shulman, Stephanie Wolfe, Eva Rykr, Marianne Aughey. Second row ( l to r): Cheryl Carfagno, Bethany Abele, Iryna Kastsiuk, Danielle Rubin, Anne Carrasco, Diane Gerstel, Maha Kabbash, Aran McNerney, Tom Sheridan. Third row ( l to r): Scott Ohnegian, Stuart Lederman, Joshua Jacobs, Robert Schoenberg

 
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 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

 
PMC Regional IRA Tour to Include New Jersey

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!

 
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