If this page doesn't display properly in your email, click here. August 6, 2014
New Jersey Bankers Association
Legislative Update
Applications Bulletin
Regulatory Bulletin
Buy-Sell Loans/Participations
Web Seminars
OCC Issues Risk Management Guidance for Consumer Debt Sales

The Office of the Comptroller of the Currency (OCC) has issued risk management guidance for consumer debt sales to national banks and federal savings associations. Bulletin 2014-37 concerns  the application of consumer protection requirements and safe and sound banking practices to consumer debt-sale arrangements with third parties (e.g., debt buyers) that intend to pursue collection of the underlying obligations.

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FinCEN Proposes and Clarifies Rule Requiring Customer Due Diligence for Financial Institutions

The Financial Crimes Enforcement Network (FinCEN) is proposing rules under the Bank Secrecy Act (BSA) to clarify and strengthen customer due diligence (CDD) requirements for banks; brokers or dealers in securities; mutual funds; and futures commission merchants and introducing brokers in commodities.

The proposed rules would contain explicit customer due diligence requirements and would include a new regulatory requirement to identify beneficial owners of legal entity customers, subject to certain exemptions.

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FinCEN Updates MSB Registrant Search Web Page

Additional news from FinCEN indicates that an updated MSB Registrant Search web page, previously called the Money Services Business (MSB) list is available. The MSB web page contains entities that have registered as MSBs pursuant to FinCEN's Bank Secrecy Act regulations.

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Court rules in Bank's Favor in Account Takeover Case: What Does this Mean to You?
Reprinted from Safe Talk, the Newsletter and Loss Control Bulletin from ABA Insurance Services

Recently, in a relatively high profile court case, an appellate court ruled in favor of the defendant/bank rather than the plaintiff (the bank’s customer) in a dispute over an account takeover claim. Also, in a rare move, the court reversed a lower court opinion and ruled that the bank may seek attorney’s fees from the plaintiff. In many respects, the decision handed down will be a significant influence not only on future court cases, but also on security or verification procedures that a bank mandates or places on accounts regarding account transfer requests.

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American Bankers Association Offers Update for Business of Banking Primer

ABA has updated The Business of Banking, a publication that explains banks’ essential roles in their community and the economy.

The publication provides facts and figures regarding the banking industry. It covers the basics of the industry – from deposits and loans, to jobs and the economic prosperity banks generate. It also examines the effects of regulation and competition from nonbanks.

Information from the publication can be used when talking with representatives in the communities bank’s serve in addition to policymakers and other influencers.

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 Member Poll
Where are you vacationing this summer?

Click here to take the poll.

Other Industry Meetings
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Upcoming Conferences - Mark Your Calendar
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Director Online Training
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Senior Management Conference to Feature Journalist, Historian and Political Observer, Ronald Brownstein

Senior Management Conference
Wednesday-Friday, September 10-12, 2014
Stockton Seaview Hotel and Golf Club
Galloway, NJ
2 CLE Credits & 4 CPE Credits may apply 

Don’t miss the Senior Management Conference! Our Keynote is Ronald Brownstein, Journalist, Historian, and Political Observer on "American Politics, Today and Tomorrow". 

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:

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

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

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.

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  


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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

Don't miss out on this half day program that will highlight:

• 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 Outing Facilitates Networking

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

Last chance to register! Don't miss out on this 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! Come join us for good time with good food and good conversation. Yes, it’s good all the way around!  Come and connect with NJBankers staff!

DeLuca Named Assistant Vice President/Branch Manager of Kearny Federalís Caldwell Office

Anthony DeLuca has been named assistant vice president/branch manager of Kearny Federal Savings Bank’s Caldwell Office. DeLuca, an Essex County College graduate, has been with the Bank for seven years, most recently serving as assistant branch manager of the Pequannock Office.

In addition to day-to-day duties of managing the office, DeLuca will oversee promoting and marketing the branch and its products, growth of lending and deposit products and nourishing existing business and personal accounts.

Lakeland Bank Appoints New Officers


Lakeland Bank has announced the appointment of three new officers:

Hillel Judasin has been appointed vice president, IT audit manager, based at the Milton Operations Center in Oak Ridge. Judasin has nearly 25 years of audit experience including 13 years of industry experience. He earned a B.S. in accounting from Brooklyn College and a M.B.A. from Baruch College. He is a member of the Information Systems Audit and Control Association.
Charles Little has been named IT operations manager, based at the Milton Operations Center in Oak Ridge. Little has 30 years of experience in information technology with 10 years in community banking. Little attended New York Institute of Technology.

Dina Templeton has been appointed to assistant treasurer, branch operations manager, Boonton. Templeton has 30 years of banking experience.

Christopher L. Fittin Joins Peapack-Gladstone Bank as Senior Managing Director and Portfolio Manager

Christopher L. Fittin has been appointed senior managing director and portfolio manager at Peapack-Gladstone’s Princeton Private Banking office.  He has held high profile positions at several financial institutions over a 34 year career.

Fittin will be responsible for active management and guidance of new and present clients, providing highly personalized investment, asset allocation and portfolio advice and guidance for high-net-worth, retirement, trust and institutional clients.

He earned a B.S.B.A. and M.B.A. from the Leon Hess Business School at Monmouth University and has studied at the Wharton School in their Executive Education School earning a Certificate in Pension Funds and Investment management.

Jasones Joins The Provident Bank as VP/Area Manager

Pamela Jasones has joined The Provident Bank as vice president and area manager of the North Brunswick, Milltown and Highland branches. In this position, Jasones is responsible for overseeing and supervising business development, community relations and the daily operations of the three branches.  Jasones is a graduate of the American Institute of Banking.

Spencer Savings Bank Promotes Four Long-Time Employees


  Spencer Savings Bank has announced the recent promotions of four members of its management team.

Jane E. Allerman-Rey has been promoted to first executive vice president/COO. Allerman-Rey has been with Spencer Savings Bank for more than 21 years, most recently serving as executive vice president/COO. She will align all aspects of retail banking, lending and compliance with key business processes for performance.

Robert L. Peacock has been promoted to executive vice president/strategic planning officer. Peacock has been with the Bank for 18 years and previously provided leadership as senior vice president/CFO. He will continue to work with the CEO and executive team on long-term planning initiatives advising on policies and growth initiatives to managing the balance sheet mix and mitigate risk.

Senior Vice President Thomas Mathews, CFA, has been promoted to CFO. Mathews has served the Bank for 10 years during which he served as SVP/Treasurer. Mathews will guide the overall direction of the Finance Division, with specific areas of responsibility including accounting, treasury, information technologies, investment-portfolio management and budget planning.

On the lending side, Charles P. Woehrle, Jr. has been named senior vice president/director of commercial real estate. With a career spanning three decades, Woehrle’s  diversified commercial real estate knowledge extends to underwriting, portfolio management, relationship management, and more.

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Kirsten Marino Appointed Vice President/Business Development Sales Manager at Sussex Bank

Kirsten (Keri) Marino has been appointed vice president/business development sales manager of Sussex Bank’s Sparta and Andover branches.

Marino has more than 18 years of banking experience with an extensive background in the banking industry including business development, sales, branch management and building community relationships.

Chris Ainsworth and Kevin Gibala Join TD Bank


TD Bank has named James C. (Chris) Ainsworth senior vice president, head of organizational development and talent in human resources. Ainsworth  will lead a team of more than 200 human resources employees responsible for talent acquisition and management; learning and development; organizational development; diversity and inclusion; and executive development.

Ainsworth has 24 years of human resources experience. He is a member of the Society of Human Resources Management. Ainsworth graduated from Northeast Louisiana University in Monroe and is a graduate of Wake Forest University in Winston Salem, NC.

The Bank has also named Kevin R. Gibala vice president, relationship manager in commercial lending. Gibala is responsible for providing a range of lending services and deposit products to small businesses located throughout Southern Gloucester, Cumberland and Salem counties in Southern New Jersey.

Gibala has 12 years of experience in banking and lending. He is a graduate of Messiah College in Grantham, PA.

Century Savings Bank Participates in Annual Women Build with Habitat for Humanity of Salem County

Century Savings Bank participated in a bank-sponsored Work Day in support of the 4th Annual Women Build project, sponsored by Habitat for Humanity of Salem County. The all-female employee build team rolled up their sleeves as they assisted with the building of a new home, In addition to helping with the construction, Century Savings Bank contributed $2,000 in support of the Women Build project. Members of the Century Savings Bank senior and branch management team helped in the build.

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Columbia Bank Foundation Grant Supports the EPIC School

Columbia Bank, through its Columbia Bank Foundation, has presented a $25,000 grant to The Educational Partnership for Instructing Children (EPIC) School, a non-profit school dedicated to providing educational services for individuals with autism and pervasive development disorder.  The community grant will be used to renovate their newest classroom, designed around a home setting to teach basic life skills.

Shown participating in a special presentation are (L to R) Diana Zitelli, assistant clinical director for Adolescent and Transitional Services; Dr. Paul Argott, Ph.D., clinical director; Thomas Kemly, Columbia Bank’s president/CEO; William Schmalz, EPIC School principal, and Michelle McGivney, Columbia Bank’s vice president and regional branch administration officer.

NVE Bank Receives Jewish Standard Readers' Choice Award

NVE Bank was once again awarded First Place in the Community Bank category of the Jewish Standard publications annual  Readers’ Choice Award. 

NVE was given “thumbs up” as the best in its category of community banks, by close to 1,000 voters that responded to the weekly publication’s annual survey.  The complete survey was included as an insert in the July 25th edition of the Jewish Standard.

TD Bank Participates in NJBankers 2014 Bankers Build

 TD Bank team members join NJBankers in the Bankers Build initiative. The home that is being built, through Coastal Habitat for Humanity, is in Neptune.

Two River Community Bank Opens Loan Production Office in Toms River

Two River Community Bank has announced the opening of its first loan production office in Toms River. This is the bank’s formal entry into Ocean County, although loans have been provided to the community prior to establishing the office.

Kelly Siegfried, VP/commercial loan officer will spearhead activities in the new market.

Valley National Bank Supports Growth of Community Access Unlimited, Inc. with Line of Credit to Expand Outreach Efforts in Union County

(L - R) Brian Tish (Valley), Millie Aurigemma (CAU), Sidney Blanchard (CAU) Mary Ann Beltz (Valley) and Mwaura Muroki (Valley).

Valley National Bank has provided a $2.5 million line of credit to support the expansion and growth of Community Access Unlimited, Inc. (CAU). CAU is an Elizabeth-based non-profit organization that is celebrating 35 years of providing a comprehensive network of services for individuals with developmental disabilities and at-risk youth throughout Union County. 


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!

FDIC New York Region Offers Regulatory Teleconference: Best Practices for Effective Liquidity Risk and Funds Management

Tuesday, September 30, 2014
2:00 p.m. EDT

The FDIC's New York Region will host a regional Regulatory Teleconference on “Best Practices for Effective Liquidity Risk and Funds Management.” The teleconference will present regulatory expectations surrounding liquidity risk management for community banks with an emphasis placed on liquidity measurement systems and how these systems form the foundation for stress testing approaches and contingency funding plans.


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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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