If this page doesn't display properly in your email, click here. September 17, 2014
New Jersey Bankers Association
Legislative Update
Applications Bulletin
Regulatory Bulletin
Buy-Sell Loans/Participations
Web Seminars
Senior Management Conference A Success

NJBankers Chairman Gerald L. Reeves, president and CEO, Sturdy Savings Bank welcomes attendees to the 92nd Annual Senior Management Conference at the Stockton Seaview Hotel and Golf Club.

The Conference in Galloway last week attracted 250 bankers, service providers and guests to the two-day event. 

Topics for this year’s event ranged from American Politics, Today and Tomorrow; Shooting the Real Estate Rapids; The Economy and Monetary Policy in a Post-QE3 World; Educational Marketing and much more.

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Susan M. Porter Receives Warren Hill Award

NJBankers President/CEO John E. McWeeney, Jr. (right) presented Susan M. Porter, retired senior vice president and chief administrative officer, First Hope Bank, with the Warren Hill Award.

Sue was presented the Warren Hill Award at the 92nd Annual Senior Management Conference during the General Session on Thursday, September 11, 2014.

The Warren Hill Award was established in 1998 in honor of Warren Hill, the New Jersey League’s president from 1966 through 1975. 

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In Memoriam - Ronald E. Hermance, Jr.

With sadness, we report the passing of Ronald (Ron) E. Hermance, Jr. chairman and chief executive officer of Hudson City Bancorp, age 67 of Ridgewood, NJ who passed away Thursday evening,  September 11, 2014.

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Changes in U.S. Family Finances from 2010 to 2013: A Survey of Consumer Finances Conducted by the Federal Reserve Board

The Federal Reserve Board’s triennial Survey of Consumer Finances (SCF) collects information about family incomes, net worth, balance sheet components, credit use, and other financial outcomes. The 2013 SCF reveals substantial disparities in the evolution of income and net worth since the previous time the survey was conducted in 2010.

The incomes and net worth of lower- to middle-income American families generally declined from 2010 to 2013, according to the survey. Although the incomes of the wealthiest 10 percent recovered from losses sustained during the financial crisis and ensuing recession, incomes for all other brackets declined over the three-year period. Average income rose 4 percent, but median income fell by 5 percent, indicating increasing disparities.

These years also saw declines in net worth for most income percentiles, although nowhere near the net worth declines associated with the bursting of the housing bubble during the previous survey period. However, 2010 to 2013 saw continued deleveraging, with median debt falling 20 percent and indicators of family debt burden falling as well. The fraction of families paying off their credit cards each month rose.

The survey also tracked financial behavior. The number of families reporting that they do not borrow or invest rose from 9.6 percent in 2007 to 13.7 percent in 2013. The overall savings rate edged up slightly from 2010 to 53 percent but remained three points lower than in 2007. The savings rate for families in the bottom half of income continued falling.

More respondents said they are shopping around for financial products. Those who shop around are more likely now to use the Internet and personal contacts and significantly less likely to call around or respond to media ads. The survey found that transaction account balances rose over the three-year period while certificate of deposit balances fell.

Read the survey results 

Few Americans Want More Government Regulation of Business

Just under half of Americans say there is too much regulation of business, according to a recent Gallup poll. The latest data is from Gallup's annual Governance Survey which was conducted September 4 to 7, 2014. Just 22 percent say there is not enough regulation, and 27 percent say the current amount is just right. The share of people who think there is too much regulation has exceeded those who think there is too little since 2002, although the gap has widened significantly since 2008. The percentage saying there is too much regulation is just one point off its high of 50 percent in 2011.

Click here for more information

Federal Reserve Releases Holiday Currency Information

For the 2014 holiday season, the Federal Reserve Banks will process holiday currency special requests during two separate ordering periods. The special ordering periods will be Friday, October 31 through Thursday, November 6, and Friday, December 5 through Thursday, December 11. For additional information, visit www.NJBankers.com. If you have questions, please contact your local Federal Reserve Office Cash Services Department.

Click here to view more

Fed Beige Book: Economic Activity Has Expanded

Reports from the twelve Federal Reserve Districts indicated that economic activity has expanded since the previous Beige Book report; however, none of the Districts pointed to a distinct shift in the overall pace of growth. The New York District characterized growth rates as moderate; Philadelphia reported modest growth. Overall, banking conditions continued to improve Loan volumes increased in nearly all reporting Districts, led by moderate gains in the Philadelphia District. Lending volumes rose in New York.

Auto lending was the category most often cited as growing though New York reported that overall consumer loans had leveled off.

Demand for business credit expanded in most reporting Districts including New York but reports from the Philadelphia District were mixed.

Demand for residential mortgages was less robust in most Districts; only Philadelphia, reported increases (which were typically only slight), and New York reported no change or slight decreases. For refinancing loans, New York and Philadelphia reported continued declines in this loan category.

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Enterprise Risk Management Conference Focuses on Risk Appetite and Role of CRO and ISO

Enterprise Risk Management Conference
Monday, October 6, 2014
Pines Manor, Edison
CPE Credits May Apply

Join NJBankers for our 3rd Annual Enterprise Risk Management Conference.

This program is designed for CEOs, CFOs, Compliance Officers, Risk Managers and other Senior Bank Managers.

The program will include topics such as:

Risk Appetite Statement and Link to Strategy
• Is a risk appetite statement necessary?
• Key points for developing a risk appetite statement
• Impact on strategic plan and future growth of the bank

Role of a Chief Risk Officer
• Responsibilities
• Reporting line
• Role in organization

Lessons Learned
• How to implement ERM

Role of an Information Security Officer
• When does a bank need one?
• What are their responsibilities?

Event Sponsor: Continuity Centers

Sponsorship Information:  This event is a great opportunity for service providers to gain exposure to these influential attendees and demonstrate their support for our industry. Contact: Jenn Zorn, Vice President/Director of Education and Business Development at jzorn@njbankers.com or 908-272-8500, ext. 611.

Click Here for program and registration information

Operations & Technology Vendor Management - Roundtable

Operations & Technology Forum: Vendor Management
Tuesday, October 7, 2014
Crowne Plaza Monroe, Monroe Township

The New Jersey Bankers Association’s Operations & Technology Committee is pleased to announce the latest in a series of interactive roundtable programs that will focus on vendor management. With increased outsourcing and heightened regulatory concern, financial institutions of all sizes must have a strong vendor management system in place. The ability of a financial institution to effectively select and manage vendors is directly related to the safety and soundness of the institution. Additionally, financial institutions may be held responsible for the actions of the companies with which they contract and must have an effective process for managing the risks of service provider relationships.

Topics will include:
• Vendor Management Regulatory Guidance Overview
• Assessing a Vendors Level Risk
• Managing Vendor Relationships through Contractual Terms
• Tools for Managing Continued Oversight

Sponsorship Information:  Event sponsorships are available for $500. These roundtables typically attract up to 50-60 IT and operations banking officers and offer an excellent opportunity for providers to heighten awareness of their products or services.  Please contact Jenn Zorn, Vice President & Director of Education and Business Development at jzorn@njbankers.com or 908-272-8500, ext. 611, for details.

Event Sponsors:
Domain Computer Services
IThreat Cyber Group
Continuity Centers
Praxis Data Systems
EDM Americas

Click Here for program and registration information

Bank Horizons 2014 Presented By NJBankers and The Warren Group

December 3, 2014
Tropicana Casino & Resort Hotel
Atlantic City, NJ

5 Reasons to Register for BankHorizons Right Now!

Mark your calendar - BankHorizons 2014 will be held on December 3 at the Tropicana Casino & Resort Hotel! This is a "can't miss" opportunity for banking professionals, managers and executives who work in operations, business development, marketing, compliance, technology, core processing and lending.

Here are 5 reasons why you should secure your spot right now:

1. Over 10 educational seminars covering topics from compliance, to marketing, and much more.

2. The exhibit hall will be open all day, featuring cutting-edge exhibits, complimentary buffet lunch and various raffle entries for you to enter!

3. Try out the latest products and technology designed to help you keep up with the change.

4. Spend a day out of the office and return as the office hero with knowledge and new insights to share.

5. Network and catch up with your peers and other C-level banking executives.

Need another reason to register right now? There are only 10 days left to save with early registration! Early registration ends September 12.

Sponsor and exhibitor opportunities are available. For more information, contact us at 617-896-5307 or via email at bankhorizons@thewarrengroup.com.

Save the Date for New Jersey's Most Important Economic Conference

Friday, January 16, 2015
8:00 a.m. - 2:00 p.m.
The Palace at Somerset Park
Somerset, NJ

We all have busy schedules and remembering specific dates can sometimes fall to the back burner. But, there are a few days throughout the year that are so exciting, we can't forget: birthdays, vacations, holidays, and the New Jersey Bankers Association's annual Economic Leadership Forum.

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 the state.

Here's your chance to be part of this critical initiative. Join us Friday, January 16, 2015, as the state's most influential organizations and leaders come together for an in-depth look at the region's financial future. With keynote presentations from some of the most prominent minds to panels and discussion forums that drill down to industry-specific details the Economic Leadership Forum is the bellwether of the Garden State's prosperity.

We're planning a great lineup for the 2015 Economic Leadership Forum. This year we have confirmed:

Stephen Moore, Chief Economist, The Heritage Foundation

Scott O'Neil, CEO of The New Jersey Devils, Philadelphia 76ers and The Prudential Center

James W. Hughes, Ph.D., Dean, Edward J. Bloustein School of Planning and Public Policy Rutgers, The State University of New Jersey

To learn more about participating in the Economic Leadership Forum visit www.njeconomicforum.com, or contact The Warren Group at 617-896-5307 or email events@thewarrengroup.com.

BCB Community Bank Branch Manager Named Hispanic Business Woman of the Year

Yolanda Jaco, BCB Community Bank branch manager has been named Hispanic Business Woman of the Year by the Bayonne Hispanic Association, Inc.

Jaco was honored, along with thirteen other honorees for their outstanding contributions to the Hispanic community of Bayonne, with a dinner in the Chandelier Restaurant of Bayonne on September 12th. She will also march along with her family in the Bayonne Hispanic Heritage parade in Bayonne on Sunday, March 28th.

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Colonial American Bank Promotes Lauren S. Bell to Chief Financial Officer

Colonial American Bank is pleased to announce the appointment of Lauren S. Bell to senior vice president and chief financial officer. Bell succeeds Michael Malloy, who served as senior vice president and chief financial officer.

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Columbia Bank Announces The Appointment Of Elizabeth McMullen to Human Resources Manager and Nicole Olaya to Director of Internal Loan Review


Columbia Bank has announced announce that Elizabeth McMullen has been appointed Human Resources Manager.  In her new position, McMullen is responsible for managing Columbia’s recruitment, employee relations, salary administration, payroll, benefits and Affirmative Action activities. Also Nicole Olaya has been appointed Director of Internal Loan Review.  In her new position, Olaya is responsible for ensuring that Columbia’s loan portfolio is in compliance with the bank’s credit policy, internal loan procedures and established state and federal banking regulations.

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Hawley Named Vice President/Assistant Director Retail Banking North at Kearny Federal

Jennifer Hawley has been named vice president/assistant director retail banking north at Kearny Federal Savings. Prior to that, she served as assistant vice president/branch manager of the Caldwell Office of Kearny Federal. Hawley is a Certified Financial Literacy Instructor, a member of the North Essex Chamber of Commerce and the Rotary Club of the Caldwells, serving her 2nd term as club secretary.

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The Provident Bank Forms Asset-Based Lending Group, Announces New Hires Sharon Bender is SVP; Arthur McCray is VP


The Provident Bank is pleased to announce the formation of an Asset-Based Lending Group that will serve businesses throughout the bank’s footprint in New Jersey and eastern Pennsylvania. Sharon Bender joins Provident to lead the new group as senior vice president and director of asset based lending and Arthur McCray joins Provident as vice president of the asset-based lending group.

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Members Take on NJBankers ALS "Ice Bucket Challenge"

Responding to a national fund raising appeal, and a challenge by NJBankers, bank members were recently doused with buckets of ice water to help raise awareness for amyotrophic lateral sclerosis (ALS), also known as Lou Gehrig's Disease. 

To commemorate this special event, member banks have made donations to the ALS charity. The latest member to take the challenge was Bogota Savings Bank.

The Bogota Savings Bank video can be viewed on YouTube - Click here


NJBankers Takes on Round 2 at Bankers Build


The NJBankers staff returned to participate in the Coastal Habitat Bankers Build. The hardwork and dedication from all the banks is appreciated!

Columbia Bank Hosts Charity Golf Classic

Shown taking part in a special check presentation at the event are Thomas Kemly (left), President and CEO of Columbia Bank, and Robert Parker, NewBridge CEO.

Columbia Bank is pleased to announce that their Twenty-Sixth Annual Charity Golf Classic at High Mountain Country Club in Franklin Lakes raised $40,000 for the benefit of the NewBridge Services, Inc., a local provider of mental health and substance abuse services, educational programs and affordable housing development in northern New Jersey.  More than 100 golfers took part in this annual charitable fund raiser. 

Sussex Bank Opens Mini-Branch at Retirement Community in Hackettstown

Sussex Bank recently opened a new mini-branch in Heath Village, a non-profit, full service retirement community.   They hosted a grand opening and ribbon cutting ceremony on September 5th, which included food, give-a-ways and introducing their Personal Bankers to the residents of the community.

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Valley National Bank Supports Paterson Habitat for Humanity

Left to right:  Valley National Bank employees John Siberio, John Montesano, Dianne Grenz, Andrea Onorato and Lynn Borelli.

Valley National Bank participated in a Paterson Habitat for Humanity project.  Employees from all around the Bank spent the morning helping construction officials from the Passaic Chapter of Habitat for Humanity renovate two homes in Paterson, NJ.  Thirteen volunteers arrived at 7:30 a.m. at the construction site, ready to perform a variety of tasks designed to accommodate four deserving families, who will enjoy home ownership for the first time. 

Choose New Jersey Presents Growing the Garden State Rocking Reception 2014

Trump National Golf Club
October 9, 2014
5:00 p.m. - 9:00 p.m.
Bedminster, NJ

Join Choose New Jersey for a night of networking with business rock stars that will celebrate the people and organizations that make New Jersey a great place to do business.

Click here for sponsorships

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

Computer Services, Inc. Presents Social Media & Compliance: What Bank Communicators and Compliance Personnel Need to Know Webinar

Social Media & Compliance: What Bank Communicators and Compliance Personnel Need to Know Webinar

Wednesday, September 24, 2014
3:00 p.m. - 4:00 p.m.

Featuring speakers Amber Goodrich, Compliance Strategist and Lee Thomas, Customer Experience Manager

Is there anyone left who isn't engaged in some form of social media? It is obviously no longer a fad, or only used by younger generations. Social media has captured the attention of the masses. Every demographic, even difficult-to-reach ones like adult males, are conversing somewhere in this realm. The vast majority of consumers are now "social" and that is why financial institutions need to consider being social too. Facebook messages, tweets, blog posts, text messages, video ... in this webinar, we'll explore all sides of the evolving customer communication puzzle and ensure that your bank is communicating effectively—and complying—through social media channels.

Click here to Register

Come "Walk to End Alzheimers" Presented by The Alzheimer's Association

The Alzheimer's Association will be holding its annual "Walk to End Alzheimers" which was previously called the "Memory Walk". The walk raises funds for support programs and research. Funds also help provide a great source of information and guidance to caregivers and those afflicted with the disease.
Associate Member The Jordan Real Estate Group will participate in the walk and has done so for the past 11 years. They invite all to join their team!
The Walk takes place on Saturday September 27th in Pt. Pleasant, NJ.  Sign up and send an e-mail to The Jordan Group with a shirt size and they will have a “Team Jordan” shirt ready for you. The event is a rally with some food and beverages and then a walk along the Pt. Pleasant boardwalk.  If you, or someone you know, would like to help raise money and join "Team Jordan" please click on the "Team Page" link. Once you register, it automatically creates a personal web page for you and people can donate under your name.   Please sign up everyone who will attend including all children. Read more and get link.

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Associate Member KPMG Recognized As Top Anti-Money Laundering Firm

KPMG LLP, the U.S. audit, tax and advisory firm, has been named “U.S. AML Firm of the Year” in ACQ magazine’s 2014 annual “ACQ Global Awards.” Additionally, ACQ recognized KPMG International, a global network of professional firms providing audit, tax and advisory services, as the “International AML Advisory of the Year.”

The ACQ awards recognize industry leaders, eminent individuals, exemplary teams and distinguished firms that represent the benchmark of achievement and best practice.

Residential Home Funding Foundation's Charitable Golf Outing & Dinner

With the fall comes Associate Member Residential Home Funding Foundation’s annual charitable golf outing! The event is always great fun, with a BBQ to start off the day, golf into the late afternoon, followed by a delicious dinner with raffles!

This year the event will take place on October 9th, at the Newton Country Club.

The Residential Home Funding Foundation is committed to enhancing the healing environment for children with acute medical issues. Our goal is to fund programs that make hospital stays less frightening and more enriching for a child.

This fall the proceeds from the Residential Home Funding golf outing will go to St. Joseph’s Hospital in Wayne, NJ and Newton Memorial Hospital in Newton, NJ.

So gather a foresome and contact Dana Kyriakou at dkyriakou@rhfunding.com to reserve your spot today!

Riker Danzig Presents Back to the Basics: Title Insurance for Lenders Seminar

Thursday, October 16, 2014
8:00 a.m. - Registration and Continental Breakfast
8:30 - 10:00 - Program
Held at: Riker Danzig's Trenton office
50 West State Street, Suite 1010
Trenton, NJ 08608
The landscape continues to change for professionals entrusted with interpreting title insurance policies and navigating the claims process.  Riker Danzig’s professionals will provide updates and insights from our depth of experience and expertise in title and real estate matters, including:   

• Covered risks
• Exclusions from Coverage
• Basic Conditions and Stipulations
• Key Endorsements to a Basic Title Policy
• The Claims Process

Seasoned professionals in our Title Insurance Group – Michael O’Donnell and Vince Sharkey –  will discuss these subjects and provide ample time for interaction and questions.

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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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Department of Labor and Workforce Development Presents Financial Services Luncheon

Monday, September 29, 2014
11:30am - 1:30pm
The Conference Center at Mercer County Community College
1200 Old Trenton Road, Trenton, New Jersey

In partnership with the New Jersey Department of Labor and Workforce Development, the Financial Services Talent Network is proud to host its first state-wide luncheon. The purpose of this event is to welcome companies, leaders and stakeholders in the financial services sector to build on existing state-wide partnerships benefiting employers and New Jersey jobseekers.

Special Guest Presenter: Kenneth Kobylowski, Commissioner
New Jersey Department of Banking and Insurance

Who should attend:
Employers and representatives from Banking, Insurance, Accounting, Commercial Lending, Investment Banking, Chamber Executives, H.R. Professionals, Financial Services Industry Recruiters, Workforce Development Strategist, and all industry stakeholders.
Register TODAY to reserve your seating at:
Jlogan@aaccnj.com or Cwallace@aaccnj.com

To register through Eventbrite please click here

NJ Bank Marketing Association Presents "What Bank Marketers Should Know About Direct Marketing"

New Jersey Bank Marketing Seminar
Thursday, October 2, 2014
8:30 a.m. - 11:30 a.m.
Holiday Inn, Clark, NJ 
$60 Early Registration ( Before 9/25/14)
$70 at the Door

Learn about how Direct Marketing can generate leads that convert to sales. Our direct mail and digital marketing experts will take you through the steps of defining segments, targeting prospects, creating messages that get results and how to measure results. Once the leads come in, learn about Lead Nurturing or effective ways to convert leads into sales.

Register by Phone/Fax:
Call Gerry at 908-419-1127
or fax to 732-264-1089

Click here for registration information

New York State Society of Certified Public Accountants Presents Global Money Laundering Seminar

Global Money Laundering: Sanctions, Risks, and Practice Opportunities
October 23, 2014
FAE Learning Center - New York City
Also Available via Live Webcast

CPE Credit: 8
CLE Credit (pending) for In-Person Only: 7

More than a dozen prominent speakers from leading financial institutions, CPA firms, and Government Offices will be on hand to share insight on what CPAs need to know in the fight against financial crimes. Get your questions answered by the experts in this field.

Click here for more Information 

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