If this page doesn't display properly in your email, click here. July 19, 2017
New Jersey Bankers Association
NJBankers in the News

NJBankers Releases Op Ed: In protecting the elderly, banks at forefront
NJBankers has released a well-received Op Ed regarding the important role banks have in protecting the elderly.

*click on headline for details

New Jersey Bankers Charitable Foundation Assists Veteran Students

Earlier this year, the trustees of the New Jersey Bankers Charitable Foundation approved funds for Rutgers University’s veteran programs and for the  Center for Entrepreneurial Studies’ at Rider University. Here is an update of the programs.

• Rutgers University’s Office of Veteran and Military Programs and Services assists veteran students facing temporary financial setbacks that, if not resolved, may impact their ability to continue with their education.  This semester, a Rutgers Newark Veteran had to withdraw from a class because of extenuating circumstances that required he provide additional support for his family.  This put the student on part time status which impacted the students GI Bill benefits.  The aid provided by the office alleviated the financial hardship dropping under full time caused the student allowing him  to focus on the family situation.  The student is registered to return to full time this fall.  Currently, the Rutgers office is working with a student who is experiencing a housing crisis and another student who needs assistance covering some of the initial costs of getting started at the University. 

 Foundation Helps Veteran’s Entrepreneurial Program Kick Off For Fourth Year - Thanks to the support of the New Jersey Bankers Charitable Foundation, the Center for Entrepreneurial Studies’ at Rider University will again be providing a free, nine week entrepreneurship curriculum for veterans this summer. This program has the veterans develop a business plan to explore a new venture idea or guide an existing business, and takes place on Rider's Lawrenceville campus. It runs in two phases. Phase one has veterans develop their business concept.  This concept then guides the veteran into phase two, the full business plan creation process. Following the completion of the classroom instruction, veterans will receive one year of mentoring. The program also features a subject matter expert panel, consisting of business professionals who will provide answers to technical questions on topics like accounting, legal issues, etc.  This year’s program has the veterans’ researching business concepts ranging from motels, daycare, laundromats, coffee shops, a distillery, to a trucking business.  We look forward to seeing these ideas transformed into possible ventures.  The program also receives support from the Uncommon Individual Foundation (UIF). Look for updates later in the year.

Treasury's Roadmap to Reg Relief
by Rob Nichols, American Bankers Association

There’s a saying in Washington that “personnel is policy.” The truth of that statement is illustrated well by the Treasury Department’s recent report on ways financial regulation can be reformed to promote economic growth. Read More



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Members in the News

Frank Sorrentino Quoted in NJBIZ Article
Most entrepreneurs wouldn't want to hear “no” uttered even once in a conversation with a banker about funding their venture. Frank Sorrentino, Chairman and CEO of Englewood Cliffs-based ConnectOne Bank, said that his fear in a business lending space increasingly influenced by the ease of accessibility of fintech is that they won’t hear enough of it.

NJBIZ Releases “40 Under 40” Award Winners
Congratulations to our member and associate members who received an “NJBIZ 40 under 40” Award. These up-and-coming stars of the New Jersey business community have achieved professional excellence at a young age, representing the future of their industries and the state as a whole.

Our best wishes to:
• Michael Coletti, Mazars USA LLP
• Jennifer Core, BDO USA LLP
• Joseph Rehm, Capital Bank of New Jersey
• Bethany Abele, Riker Danzig Scherer Hyland & Perretti LLP
• Rachel Gonzalez, Day Pitney LLP

*click on headline for details

Industry News

Beige Book: Economic Growth Continues
Economic expansion continued across all 12 Federal Reserve districts at a slight to moderate pace in June, according to the Federal Reserve in its fourth Beige Book release of 2017. In the New York District, economic growth has picked up to a modest pace in recent weeks. In Philadelphia, economic activity appeared to slow to a slight pace of growth, demand softened for autos, new home construction, and nonresidential construction.

CFPB Finalizes Rule Dramatically Curtailing Arbitration Agreements
The Consumer Financial Protection Bureau has finalized a rule that prohibits customers from waiving their ability to participate in class action suits and limits drastically the use of mandatory arbitration agreements for financial products and services.

CFPB Finalizes Latest Round of TRID Amendments
The Consumer Financial Protection Bureau has finalized amendments to the TILA-RESPA integrated disclosure rule. The 500-page final rule sets guidance, clarifications and technical corrections on a range of topics, and will take effect 60 days after publication in the Federal Register, with a mandatory compliance date of Oct. 1, 2018.

OCC Issues Revised Guidance on Filing Requirements
The OCC has issued a new version of the General Policies and Procedures Booklet in the Comptroller's Handbook. The revised version covers how to file applications and notices with the OCC, general filing requirements and the OCC's review process for licensing filings.

Fed Seeks Comments on Proposed Reporting Changes for BHCs
The Federal Reserve is seeking comments on a proposal to revise the FR-Y9 report that bank holding companies with more than $1 billion in assets are required to file. The proposed changes are nearly identical to those made to the Call Report and include the elimination of several data items and a more streamlined questions for reporting on complex or specialized activities. Comments are due Sept. 18.

Fed Survey: Noncash Payments Increase, Debit Most Popular with Consumers
Consumer noncash payments increased significantly between 2000 and 2015, according to new data from the Federal Reserve. The number of noncash transactions grew at a rate of 4.7 percent per year during that time, with total transaction values increasing from $75.87 trillion in 2000 to $177.85 trillion in 2015.

State Regulators Issue Cybersecurity Best Practices
State banking regulators and the U.S. Secret Service released banker best practices for managing the risks of certain cyber-threats. Community bankers participated in the development of the best practices through the Bankers Electronic Crimes Task Force.

Survey: Digital Banks Lead Branch-Based Banks in Customer Satisfaction
Digital “direct” banks outpaced traditional branch-based banks in customer satisfaction, according to a new J.D. Power study. These online platforms scored an average of 865 out of 1,000, 49 points higher than the traditional bank average. More than three quarters of direct bank customers said they would recommend their bank to a friend, compared with 57 percent of branch-based bank customers.

*click on headline for details

Member News

Northfield Bank Announces Retirement of John Alexander
Northfield Bank announced that John W. Alexander, Chairman and Chief Executive Officer, has advised the Company’s Board of Directors that he intends to retire as Chief Executive Officer of the Company effective October 31, 2017. The Boards of the Company have selected Steven M. Klein, President and Chief Operating Officer, to succeed Alexander as CEO as of November 1, 2017.

Crown Bank has a new board member, Paul E. Fitzgerald
Crown Bank announced that Paul E. Fitzgerald has joined the Board of Directors. Fitzgerald has over 40 years experience in banking.  Previously Fitzgerald served as President/CEO of First Choice Bank in Kingston and President and CEO of First Bank in Hamilton.  He was also President and CEO of two de novo banks in Bergen County, North Jersey Community Bank and Freedom.  He served on the Board of Directors of NJBankers and is past president of Community Bankers Association of NJ and Northern NJ Community Bankers. 

Two Senior-Level Promotions at Lincoln 1st Bank
Lincoln 1st Bank announced two key promotions. Philip B. Vaz, who currently serves as Chief Financial Officer, has been named Executive Vice President and Chief Operating Officer; while Tracey McGovern, currently the Bank’s Vice President and Controller, will transition into the Acting Chief Financial Officer position.  

Lakeland Bank Appoints Angelo Frangella Senior VP and Team Leader
Angelo Frangella has been hired as Senior Vice President, Team Leader for the Commercial Lending Team based in Teaneck, N.J. Joining Lakeland with more than 25 years of industry experience, he was most recently a Regional Manager, Commercial Banking for Astoria Bank for New York/Long Island.

First Bank’s Board Welcomes Doug Borden & Michael E. Salz
First Bank welcomed Doug Borden, a partner of the Borden Perlman Insurance Agency, and Michael E. Salz, of Linden Bulk Transportation Co., Inc., a bulk carrier and intermodal depot with terminals headquartered in Linden, as new members of its board of directors.

The American Diabetes Association Honors Paul Van Ostenbridge, President of Atlantic Stewardship Bank, as Father of the Year

Paul Van Ostenbridge, President and CEO of Atlantic Stewardship Bank, was selected by the American Diabetes Association’s Father’s Day Council and was honored at the Father of the Year Awards.

Metuchen Savings Bank appoints new Director
Metuchen Savings Bank announced the appointment of Gary S. Horan to the Board of Directors, that was effective the first of June, 2017. Horan, President and CEO of Trinitas Regional Medical Center for the last 17 years, arrived shortly after the merger of St. Elizabeth Hospital and Elizabeth General Medical Center which gave birth to Trinitas in January, 2000.

*click on headline for details

Endorsed Service Provider News

You're Invited: Mirador's 2017 Summer Product Update
Wednesday, July 26, 2017
1:00 pm Eastern/10:00 am Pacific
NJBankers endorses Mirador for bringing advanced lending technology to members. Mirador offers a white labeled, small business lending platform that enables banks to make faster, more profitable loans, build stronger customer relationships, and attract qualified new borrowers. 
Learn more about the Mirador solution and the new features that have launched as part of Mirador’s spring product release and the continued evolution of the lender/borrower experience.

FinPro's Annual Conference

Thursday, November 2, 2017
Fiddlers Elbow Country Club, Bedminster, NJ

This conference qualifies for credits towards the Directors Certification Training Certificate. The conference will focus on current and upcoming issues and opportunities for community banks providing advice and solutions geared towards enhancing value for all attendees. As the information provided during this conference will give attendees an edge in 2017, the materials and content from this conference will only be available to attendees.

For registration or questions contact:
Email finpro@finpro.us
Phone: 908-234-9398

*click on headline for details

Associate Member News

COCC Turns the Corner on 50 Years of Excellent Service
COCC celebrated 50 years in business on June 30, 2017. Founded in 1967 as the Connecticut On-Line Computer Center, COCC was formed by members of the Savings and Loan League of Connecticut in an effort to pool the resources of several small community banks for core services and data processing.

*click on headline for details

Banker's Toolbox Releases BAM+ 4.0 upgrade

Banker's Toolbox solidifies its position as the premier solution for fast-growing financial institutions with the release of BAM+ 4.0 upgrade. With over 20% of the market share for financial institutions over $1 billion in assets, and 30% of the market for financial institutions over $5 billion, Banker's Toolbox aims to extend its dominance in the highest tiers of the BSA/AML and Fraud prevention marketplace with the release of BAM+ 4.0.

Annual Senior Management Conference

Annual Senior Management Conference
Wednesday – Friday September 13-15, 2017
Borgata Hotel & Casino, Atlantic City, NJ

The NJBankers Senior Management Conference presents an overview of the hot topics and emerging trends that will change the way your bank conducts its business now and in the future. The conference provides an invaluable opportunity for staying current on the issues affecting our rapidly changing industry and to network with peers and solution providers.

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Annual Summer Golf Outing and Networking Reception

Monday, August 14, 2017
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 less play time and more face time on our host course, Fiddler's Elbow in Bedminster, NJ!  Thanks to Unity Bank for being our course host and our event sponsor Wolf & Company, P.C.

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The Delaware Bankers Association and the Delaware Financial Education Alliance Present the 12th Annual Delaware Trust Conference

October 24th & 25th
Chase Center on the Riverfront
815 Justison Street, Wilmington DE 19801
The Delaware Trust Conference is an ideal opportunity tailored to the needs of: Trust Professionals, Portfolio Managers, Financial Advisors, Attorneys, CPAs, CTFAs, Wealth & Asset Management Services Executives, Executive Trust Officers, Investment Officers, Investment Managers, and Trust Department Managers.

Read More

Participate in this Innovative Way of Addressing Your Talent Needs

The African American Chamber of Commerce of NJ, in partnership with the NJBankers is preparing to form a consortium of industry experts committed to creating sustainable career pathways for residents of New Jersey. This initiative will be lead in part by the Financial Services Talent Network but streamlined by Financial Service Employers.  The task for this consortium will be to: create a comprehensive curriculum, develop talent and build internal capacity for the employers on board.  Please contact NJBankers EVP/Director of Government Relations Michael Affuso if you would like to participant in this innovative way of addressing your talent needs.

Individual Seeks Employment

A skilled communicator with more than two decades of experience in all facets of communications and public relations in the public and private sector including business advocacy, publishing, telecommunications and education.

Expert in strategic and executive communications, media relations, digital communications, including social media and video and crisis communications.  Have also excelled in message development and advocacy communications aimed at producing a positive policy result and communicating successes to stakeholders, the media and government officials.

Will help establish and expand your branding through all communications channels to help achieve positive business results.

Please contact Erin Suckiel (908-272-8500, ext. 629; esuckiel@njbankers.com) for a copy of the resume



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