If this page doesn't display properly in your email, click here. December 7, 2016
New Jersey Bankers Association
NJBankers in the News

Mike Affuso Offers Insight as Guest on The Kafafian Group's, "This Month in Banking"
As a guest on The Kafafian Group’s podcast “This Month in Banking”, NJBankers EVP and Director of Government Relations Mike Affuso offers his insight into the possible effects of the Trump presidency on the banking industry.

*click on headline for details 

Industry News

Cyber Thieves Targeting Non-EMV-Enabled Merchants
In the wake of the decision by Visa and MasterCard to delay the EMV chip card liability shift for gas pumps until 2020, a new advisory emphasizes that cyber thieves are focusing on retailers who have not upgraded their systems. “Criminals are targeting the remaining merchants that have not upgraded, including gas pumps,” said the Financial Services Information Sharing and Analysis Center, the Retail Cyber Intelligence Sharing Center and the U.S. Secret Service in a joint release.

Berkshire Hills Completes First Choice Bank Acquisition
Berkshire Hills Bancorp, Inc. (NYSE: BHLB) has completed the acquisition of First Choice Bank and the merger of First Choice Bank into Berkshire Bank, effective at the close of business on December 2, 2016. As a result of this merger, First Choice Loan Services Inc. has become a wholly-owned operating subsidiary of Berkshire Bank.

Department of Banking and Insurance Issues Bulletin
The following bulletin has been issued by the New Jersey Department of Banking and Insurance and is posted on the Department's website.  Bulletin No. 16-08: Pre- and Post-Disaster Regulatory Guidance.
If you have any questions or comments, please e-mail them to: legsregs@dobi.nj.gov

FATF Report Credits ‘Robust’ U.S. AML/CFT Framework
The Financial Action Task Force has said that the U.S. framework for combating money laundering and the financing of terrorism is “well developed and robust” in a report released summarizing the findings of a recent on-site review. FATF noted significant improvements in coordination among U.S. federal agencies, law enforcement and others since the last report in 2006, crediting the financial industry in particular for its “evolved understanding of [money laundering and terror financing] risks and obligations,” and its mechanisms for monitoring and reporting suspicious transactions.

FHFA Increases Conforming Loan Limits for 2017
The Federal Housing Finance Agency indicated that it will raise the maximum conforming loan limits for mortgages Fannie Mae and Freddie Mac purchase in 2017 from $417,000 to $424,000. The announcement marks the first time FHFA has increased the baseline loan limit since 2006. In high-cost areas, such as Los Angeles, New York, San Francisco and Washington, D.C., the maximum loan limit will be $636,150. Meanwhile, limits will rise in all but 87 counties in the country.

OceanFirst Financial Corp. Completes Acquisition of Ocean Shore Holding Co.
As a result of the acquisition, Ocean City Home Bank will operate as a division of OceanFirst Bank until the integration of the operating systems is completed, which is expected to occur in the Spring of 2017.  In conjunction with the full integration of the operating systems, Ocean City Home Bank will be rebranded as OceanFirst Bank.

OCC Releases 2017 Assessment Schedule
The OCC has released its 2017 assessment schedule. Assessments are due March 31 and Sept. 30, based on Call Report information as of Dec. 31 and June 30, respectively, the OCC said. Marginal assessment rates were adjusted to 1.2 percent for 2017 due to inflation.

*click on headline for details 

Members in the News

Graves Comments on Complex Regulations’ Effect on Community Banks
In a recent article in CNN Money, Bank of New Jersey President and CEO Nancy Graves was interviewed and quoted regarding the difficulty of Main Street banks to implement the complex regulations resulting from Dodd-Frank.

Glen Rock Savings Bank President and CEO Henry P. Ingrassia Honored at Retirement Dinner

Henry P. Ingrassia, president and CEO of Glen Rock Savings Bank, was presented a resolution by James Meredith of NJBankers in recognition of his retirement after 43 years of service to the industry.

Anthony Labozzetta Honored as Community Banker of the Year
Anthony Labozzetta, president and CEO of Sussex Bank was honored as “Community Banker of the Year” by American Banker. The resulting article notes his vision and tactics for making Sussex Bank a successful financial institution. The article leads with the observation that Labozzetta isn’t afraid of change! The article notes just some of the changes that he and his team have implemented. John McWeeney, Jr., NJBankers president and CEO, is quoted in the article noting that Labozzetta is a “dynamic banker”. Labozzetta is a strong supporter of NJBankers and currently is serving a three year term on the association’s Board of Directors and is a member of the Executive Committee.

*click on headline for details


Economic Leadership Forum
Friday, January 20, 2017

Directors Certification Training:
Board & Management Leadership Summit

Friday, March 10, 2017

ABA Government Relations Summit
Monday-Wednesday, March 20-22, 2017

7th Annual Women in Banking Conference
Wednesday, April 5, 2017


  Dates TBD

 Dates TBD

April 25

NJBankers Leadership Academy
See njbankers.com for details.

Other Industry Meetings
View Other Meetings
Mark Your Calendar
View Upcoming Events
Happy Retirement to Jim Hyman!

On Monday night at Diamond’s Restaurant in Pennington friends and colleagues celebrated Jim Hyman’s distinguished career in banking. Hyman is regional president of Northfield Bank and former president & CEO of Hopewell Valley Community Bank.  Hyman noted in his remarks that he is proud to have been a community banker.  Often times banks focus on rates and numbers, he noted, but he was happy that he was in a job that made dreams come true for so many.  May your and Lynn’s dreams come true with many happy years of retirement!

In Memorium: Abraham Mamary

With sadness, we report the passing of Abraham Mamary, 83, on December 4, 2016. Mamary was former president & chief executive officer of Columbia Bank, Fair Lawn, New Jersey, and served as chairman of the New Jersey Savings League in its 1999-2000 year. Read More

Bank Horizons a Success

Bank Horizons a Success

photo courtesy of Donald Christensen, CI-Group

On December 3, attendees enjoyed an action-packed day complete with educational sessions, leading-edge exhibits, networking, and attendee raffle prizes.

A Celebration with New Leaders

photo courtesy of Donald Christensen, CI-Group

Thirteen up and coming bankers who are highly respected by their colleagues were honored at the New Leaders in Banking Award Gala in conjunction with BankHorizons.

Save the Date! Board & Management Leadership Summit


March 10, 2017 - SAVE THE DATE
Renaissance Woodbridge Hotel, Iselin
Qualifies for 5 credits toward certification*

This new conference format will focus on current and upcoming issues and opportunities for community banks and provide advice & solutions geared toward enhancing value for all attendees. Read More

Register Today! Economic Leadership Forum

The Economic Leadership Forum is an opportunity to hear from key thinkers on the issues that shape our great Garden State and the Nation. Experience a line-up of today’s thought leaders including Keynote Speaker, General Michael Hayden, retired four-star general who served as director of the CIA and NSA when the course of world events was changing at a rapid rate; Patrick Harker, president/CEO of the Federal Reserve Bank of Philadelphia who participates on the FOMC which formulates the nation's monetary policy; Dr. James Hughes, Distinguished Professor, Dean of the Edward J. Bloustein School of Planning & Public Policy at Rutgers, a nationally-recognized expert on demographics, housing, and regional economics; and many more experts and sessions, all while you network with New Jersey’s influential business leaders. Don’t miss out! This sell-out event attracts more than 500 attendees. Read More

Break out your flip flops - May 17 - 21, 2017 - for NJBankers Annual Conference
NJBankers is back at The Breakers in Palm Beach, FL for our Annual Conference & Market Showplace.  
The room block is open!  The Breakers anticipates a sell-out over our dates and encourages attendees to make their reservations early.  

Read more
NJ Bank Marketing Association's Annual Forecast Seminar Recap


Last week, John McWeeney, Jr., president & CEO, NJBankers; NJBankers 1st Vice Chairman, James Vaccaro chairman, president & CEO, Manasquan Bank and Michele Siekerka, president, New Jersey Business & Industry Association presented their views at the NJ Bank Marketing Association’s annual Forecast Seminar. This well-attended event draws participants from many different fields in banking, not just “marketers”. The seminar drew attendees from retail, commercial, business development and other disciplines. The seminar also drew bank service providers.

The annual Forecast Seminar is a terrific way to hear from industry experts on the issues that are anticipated in the new year that will impact banks in the Garden State. NJBankers is a proud supporter of the organization.

Endorsed Service Provider News

Pentegra Introduces "PENTalk" Webcasts
Pentegra Retirement Services is pleased to introduce their “PENTalks”, a series of webcasts that they will be hosting featuring their resident experts on a variety of newsworthy and topical subjects. Their first PENTalk topic will be on The Pentegra SmartPath and the path to retirement readiness on December 8th at 10am. Pentegra’s Rich Rausser, Senior Vice President of Client Services will discuss best practices in plan design and savings strategies geared toward helping participants achieve more successful outcomes.

*click on headline for details 

NJBankers Welcomes New Associate Members

NJBankers is pleased to announce that the following firms have joined the Association.  These firms recognize the value of membership in NJBankers and we applaud their support of the New Jersey banking industry.
- Cachet Financial Solutions
- CI-Group
- Meeker Sharkey   
- United Healthcare

Associate Member News

CI-Group Aims to be One-Stop Shop for Marketing
Don Christensen and his partner at Christensen Tamburri Communications, Bob Tamburri, had been looking to join forces with a larger communications company when they began talking to the team at CI-Group.

*click on headline for details

2016 Compensation Survey Available

The annual NJBankers/Crowe Horwath LLP compensation survey provides invaluable compensation-focused benchmarking data. This year’s survey offers insights to help you make critical decisions about compensation, human resources, and benefits, including calibrating compensation structures using industry benchmarks, structuring salary and incentive pay to support business strategy and identifying trends in employee acquisition, development, and turnover. To order, click here.

Show Off Your Stuff!
Get the Recognition you deserve

The Community Service Award program highlights the significant impact NJ banks have on their local communities.  Members are encouraged to submit information and photographs on initiatives that show how their financial institution makes New Jersey’s communities’ better places to live, work and play. We compile a book that includes the submissions and then distribute it to Legislators and Regulators. This book is shared with media outlets to prompt interest in your bank’s programs and reinforce the impact the banking industry makes on the communities that members serve. Join us in this initiative and benefit from the exposure! Please pass this information to the appropriate individual at your institution. Read More

Bergen County Habitat Seeks Retail Space

The Habitat for Humanity of Bergen County is investigating the possibility of opening a ReStore in Bergen County.  ReStores are nonprofit home improvement stores and donation centers that sell new and gently used furniture, appliances, home accessories, building materials and more to the public at a fraction of the retail price.  Proceeds from the ReStore would be used to assist the charity in implementing its mission statement of providing low-income, affordable housing to hardworking families of Bergen County.

The Bergen Habitat is hoping that NJBankers members may be able to assist in the ReStore project.  They are currently seeking location(s) in Bergen County for ReStore operations.  The wish list includes a retail space in Bergen County with a loading dock and a footprint of at least 8,000 square feet, and warehouse space in Bergen County of at least 10,000 square feet.  Alternatively, some type of flex space that accommodated both retail and warehouse functions, with a size of at least 15,000 square feet, would be highly desirable.  If any member has foreclosed upon, or is in the process of foreclosure upon, a property that generally fits any of these descriptions, and is interested in working with the Bergen Habitat in the establishment of a ReStore, they would love to hear from you.  Please contact Jack Fields at (201) 664-5400, x203, or jfields@oritani.comJack is a member of the Board of the Habitat for Humanity of Bergen County. Read More



 Connections Tools
Search Back Issues
Forward this Issue
Print-Friendly Version
New Jersey Bankers
411 North Avenue East
Cranford, NJ 07016
Phone: (908) 272-8500
Fax: (908) 272-6626
To ensure delivery of the New Jersey Bankers Connections, please add "info@njbankers.com" to your email address book or Safe Sender List. If you are still having problems receiving our communications, see our white-listing page for more details: http://www.commpartners.com/website/white-listing.htm

To safely unsubscribe from this group, click here.
Visit NJBankers.com Applications Bulletin Regulatory Bulletin Advertising Sponsorships