If this page doesn't display properly in your email, click here. November 29, 2017
New Jersey Bankers Association
NJBankers in the News

McWeeney Quoted in ROI "Aiming to take business (back) from fintechs" article
As CEO and president of the New Jersey Bankers Association, John McWeeney gets a zoomed-out view of the wide-ranging differences between the amount of technology local banks have.

*click headline for details

 
Industry News

CFPB Approves Final Revised Uniform Residential Loan Application
The Consumer Financial Protection Bureau has officially approved the final redesigned Uniform Residential Loan Application, confirming that the revised form is in compliance with Regulation B, which implements the Equal Credit Opportunity Act.

CFPB Formally Rescinds Arbitration Rule
Following congressional action to overturn the CFPB’s controversial arbitration rule using the Congressional Review Act, the CFPB has formally removed the rule text from the Code of Federal Regulations. The action has immediate effect.

DOL Finalizes 18-Month Extension for Fiduciary Rule Exemptions
As the Department of Labor continues its review of the Obama-era fiduciary rule, DOL has finalized its plans to extend to July 1, 2019, the compliance date for certain exemptions to the rule.


FDIC: Widening Interest Margins Drive Bank Revenue Growth
FDIC-insured banks and savings institutions earned $47.9 billion in the third quarter, up 5.2 percent from the industry’s earnings a year before according to the FDIC Third Quarter 2017 Quarterly Banking Profile. The rise in net earnings was largely driven by a 7.4 percent increase in net interest income as the Federal Reserve continues the process of normalizing interest rates.

FDIC Announces Webinar on Resources for Accessing Affordable Mortgage Credit
The FDIC is hosting a webinar on December 8, 2017, from 2:00 p.m. to 3:30 p.m. ET highlighting the FDIC's Affordable Mortgage Lending Guide. Panelists will discuss state and federal mortgage products. The goal is to increase lenders' awareness and understanding of available mortgage lending products and services.

Federal Home Loan Bank of New York Declares a 6.00% Dividend for the Third Quarter of 2017 
FHLBNY announced that, on November 16, 2017, their Board of Directors approved a dividend for the third quarter of 2017 of 6.00% (annualized).  The dollar amount of the dividend will be approximately $97.0 million.  The cash dividend was distributed to member financial institutions on November 17, 2017.

Mulvaney Imposes 30-Day Freeze on New Regs, Guidance at CFPB
The hiring freeze as well as a freeze on any new regulations or guidance will last for 30 days.

Otting Sworn In as Comptroller
Joseph Otting was sworn in on Nov. 27, 2017 as Comptroller of the Currency. A former bank CEO in California, Otting replaces Keith Noreika, who served as acting Comptroller for several months.

*click on headline for details

 
Japanese Bankers Visit Manasquan Bank


On Thursday, November 16th, Manasquan Bank had the fortune to host visitors from Toho Bank a Japanese, regional bank headquartered in Fukushima, Japan.  In attendance were several members of Manasquan Bank’s Leadership team who had the great opportunity to interact with roughly 17 members of the Toho organization.  Manasquan Bank’s Chairman, President and CEO James Vaccaro, lead the discussion during lunch with a translator present to support communication efforts.  The general conversation focused on the differing banking environments prevalent in the respective market places. 

 
 






SAVE THE DATE

Board & Management Summit
March 9, 2018

Womens Leadership Bootcamp
April 9, 2018

114th Annual Conference
May 16, 2018

Women in Banking Conference
June 13, 2018

See njbankers.com for details.

Other Industry Meetings
View Other Meetings
Mark Your Calendar
View Upcoming Events
 
Members in the News

NJBankers Members Named Some of New Jersey's 2017 Fastest Growing Companies
ConnectOne Bancorp, Inc., Peapack-Gladstone Bank, Lakeland Bank and First Bank have been named some of New Jersey’s 2017 50 Fastest Growing Companies. The award program is produced by NJBIZ, New Jersey’s state-wide business news publication. The NJBIZ 50 Fastest Growing Companies awards program celebrates New Jersey's most dynamic companies who progressively contribute to the success of the state's economic growth and stability.

Valley National Bank loses a giant: Longtime CEO Lipkin passing torch to Robbins
For many business owners, the process of growing an enterprise is similar to raising a child. They guide it from infancy to maturity, while trying to influence their offspring with a sense of morals — or best practices — providing them with the tools and experience to succeed on their own. It’s an apt analogy for Gerry Lipkin, the longtime chief executive officer and “face” of Valley National Bank, who recently announced he will be stepping back from day-to-responsibilities as of Dec. 31.

*click headline for details
 

 
Member News

Amboy Bank Holds Free Educational Seminars
Amboy Bank is offering free seminars to educate the members of their communities. For professionals, Amboy offers continuing education courses, such as CLE for Attorneys and CPE for Accountants. These for-credit classes provide an extensive explanation of Reverse Mortgage loans, including Benefits and Features of Reverse Mortgages, Objectives of Reverse Mortgage Loans as Financial Planning Tools, Counseling Protocol, Impact on the Estate, Contract Provisions and Closing the Loan. Recent presentations included the Middlesex County Bar and the CPA Society of Monmouth and Ocean Counties.

Capital Bank of New Jersey Appoints James R. Haefele, CPA as Director
Capital Bank of New Jersey announced the appointment of James R. Haefele, CPA to its Board of Directors. Haefele is a partner at Haefele Flanagan, a public accounting and consulting firm in Maple Shade, New Jersey. In addition to being a Certified Public Accountant, he is Accredited in Business Valuation and is a Master Analyst in Financial Forensics. When not serving the wide professional needs of his clients, Haefele is active in the community. He coaches youth sports and serves as Treasurer for the Legacy Foundation, which supports Legacy Treatment Services in Hainesport, New Jersey.

Columbia Bank Announces the Appointment of Tracy Zearfaus to SVP, Operations and Linda LeMond to SVP, Treasury Management

Thomas J. Kemly, President and CEO of Columbia Bank, announced that Tracy Zearfaus has been appointed Senior Vice President, Operations. In her new position, she will manage the bank’s Card Services Department, Loan Servicing Department and Customer Service Call Center. Kemly also announced, Linda K. LeMond has been appointed Senior Vice President, Treasury Management. In her new position, she will manage the bank’s Checking Operations team which provides customers with online and cash management solutions.

Metuchen Savings Bank announces the retirement of Martin D. Jessen as Chairman and elects Victor M. Richel as new Chairman of the Board
At the October 17th Board Meeting of Metuchen Savings Bank, Chairman Martin Jessen announced his decision to retire as Chairman of the Board, while continuing to serve as a Board member. The Bank is pleased to announce the unanimous election of Victor M. Richel to Chair the Metuchen Savings Bank Board of Directors, effective the 17th of October 2017. Mr. Richel was appointed to the Bank Board in April. Mr. Richel previously served on the Banking Advisory Board of the NJ Department of Banking and Insurance (NJDBOI) and on the boards of the New Jersey Savings League and the Thrift Institutions Community Investment Corp of New Jersey (TICIC).

Jeff Carfora Named CFO of the Year
Jeffrey J. Carfora, Senior Executive Vice President, Peapack-Gladstone Bank, has won the prestigious NJBIZ 2017 CFO of the Year Award for a Public Company. According to the article, Jeff is a winner because he's been recognized among his coworkers as a thoughtful individual and comfortable in every work situation. His knowledge of accounting is only surpassed by his skills as a great human being and solid leader. Jeff will soon be celebrating 35 years of serving the banking industry. From all of us at NJBankers, congratulations on this milestone, Jeff!

*click on headline for details

 
Registering for an NJBankers Seminar Has Never Been Easier!
Registering for an NJBankers seminar or conference has never been easier! At checkout, registrants can now pay by credit card or even select a “pay later” feature! Credit card checkout is easy and we safeguard your information. Pay later allows for payment under separate cover or we can send an invoice.
 
Just two more ways to ensure that your professional development needs are met. Take a look at the many seminars and conferences available to you by visiting www.NJBankers.com.
 


Don’t miss out on the chance to develop new business leads, meet, and network with the Garden State’s leading decision makers. The Economic Leadership Forum is also an opportunity to hear from key thinkers on the issues that shape our great Garden State. Wilbur Ross, Jr., the 39th Secretary of Commerce who will be the principal voice of business in the Trump Administration and named one of the most influential people in global finance by Bloomberg is a featured speaker.  Several sponsorship levels are available. Read More

 
It's time to plan for the 2018 NJBankers Annual Conference!

Time to think of warm sand, glistening turquoise water, your choice of hotel rooms as well as a stunning renovated hotel property!

NJBankers room block is officially open to book your room for the conference May 16-20, 2018 at the J.W. Marriott at Marco Island Resort, Marco Island, FL.  

The hotel anticipates being sold out, so you are encouraged and wise to make your reservations early.
Room rates:
Standard:  $299
Gulf View & Partial Gulf View:  $339
Suites – Information to book a suite can be found online

 

NEW this year:
• Daily Concurrent Sessions to offer you more educational content
• Three General Sessions
• Registration and the Market Showplace will open simultaneously this year allowing more time for networking and conversations on the products and services our exhibitors offer
• Fishing Excursion is on Thursday
• Golf Tournament will be on Friday at Hammock Bay
• What better way to end our event, then with our Saturday afternoon Life is a Beach Bash

Please follow the link below to make reservations as well as see the UPDATED CONFERENCE SCHEDULE, before making your arrival and departure reservations.

  Click here!

 
What Marijuana Legalization Could Mean for Banking Conference

January 31, 2018
Forsgate Country Club
Monroe Township, NJ


Ready, Set, Go? With the election of Phillip Murphy as Governor, he has pledged to legalize the recreational use of marijuana to boost the Garden State’s economy. Yet there are many questions for banks about serving marijuana businesses, their customers and suppliers as they would be conducting legal activities in New Jersey; but not on the federal level. The NJBankers Conference, “What Marijuana Legalization Could Mean for Banking”, will feature experts who can address what we know, at this time, in order to prepare for how the banking industry would/could service these businesses. 

 
Upcoming NJBankers Conferences - Don't Miss Out on Opportunities for Professional Development!

Directors College with FDIC
Friday, December 1, 2017
Pines Manor, Edison, NJ
A bank’s board of directors serves a critical role in the successful, healthy operation of the bank. The Directors Certification Training Program validates that board members for financial institutions located in New Jersey are well trained for understanding the issues that mitigate risk in order to lead their bank with prudent corporate governance practices.

Operations & Technology Roundtable
CYBER SECURITY SUMMIT
Thursday, December 7, 2017
Ocean Place Hotel, Long Branch, NJ
Enjoy a session that will review the differences in policies, how to respond to a breach, and the new cyber attacks bankers should be aware of and more. The Framework is voluntary guidance, based on existing standards, guidelines, and practices, for organizations to better manage and reduce cybersecurity risk. A discussion about NIST and the forthcoming cyber regulations is a presentation not to be missed! Your afternoon will consist of a Data Breach Case Study where you will experience a response to a data breach from the beginning. Rather than a lecture from 20,000 feet, this interactive presentation will take information down to the ground level and walk through the various decisions that your bank might need to make along the way.

BankHorizons
Thursday-Friday, December 7-8, 2017

Ocean Place Hotel, Long Branch, NJ 
BankHorizons is right around the corner. Attendees will once again have the opportunity to network with peers, discover one-of-a-kind solutions from leaders in the banking community, and learn about the latest products and services revolutionizing the industry! This year Holly Hoffman, the last woman standing on Survivor: Nicaragua, will join us and sign her book, Your Winner Within.

 
NJBankers Leadership Academy

Advanced Leadership:  Leading Your Managers
December 5, 2017
NJBankers Office
Cranford, NJ
Leading your managers who have direct reports requires a very different skill set than managing a team of individual contributors. To be effective in that role, leaders need to move beyond making sure that work expectations are met and focus more heavily on coaching their managers to support and develop their teams.

Emerging Bank Leaders Program
The Emerging Bank Leaders Program is designed to enhance the organizational, performance, and leadership skills of highly motivated managers who have the potential to become future leaders in the banking industry. The program’s content is designed to develop emerging bank leaders in the areas of leading change, maximizing team development, talent development/performance management, communication effectiveness, strategic banking, and individual development planning.

Directors Training Web Seminars
The Webinar Package offers all of your directors and staff approximately 25 one-hour web-seminars (a year) that can be viewed live or at any subsequent time on an unlimited basis.  

 
Associate Member News
Baker Tilly Virchow Krause, LLP Presents NY DFS cybersecurity law: implementation lessons learned Webinar
Wednesday, January 31, 2018
1:00 p.m. ET
With almost a year past since the first effective date of the finalized New York State Department of Financial Services’ (NY DFS) cybersecurity law, many financial services institutions have implemented the regulation’s required policies and practices. Join us for this special webinar as Baker Tilly’s cybersecurity specialists review the finalized law, discuss lessons learned from institutions who have implemented portions of the regulation and provide best practices your organization can use while preparing for the remaining compliance requirements.


Boenning & Scattergood is pleased to announce the addition of Michael J. Hughes to the firm
Boenning & Scattergood, Inc. announced that Michael J. Hughes has joined the firm.   Hughes will assist our team in providing services to clients in the financial services, commercial and industrial sectors. Prior to joining Boenning & Scattergood, he was Chief Financial Officer of National Penn Bancshares Inc. Hughes previously served as Chief Financial Officer of SPI, a national building products distributor, Woodstream Corporation, a consumer products manufacturer and The Hershey Bank. He also held a senior role at Meridian Bancorp, managing its merger and acquisitions function. His additional experiences include serving as Chief Operating Officer of a regional investment banking firm and Chief Restructuring Officer of Boscov Department Stores, leading a successful Chapter 11 restructuring.

CFT Presents 2017 Fall Commercial Lending School

The Commercial Lending School curriculum is used by banking schools across the United States.  It delivers in-depth training in all facets of commercial lending, with an emphasis on financial analysis, cash flow versus profit, and loan structure.
 
Register Today for NJ Bank Marketing Seminar: Forecast 2018

Thursday, December 7, 2017
8:30 a.m. - 11:30 a.m.
Holiday Inn Express, Clark, NJ
Traditionally, the Forecast Meeting draws the largest audience and this one should be no exception. In fact, it promises to be one of the best with three outstanding professionals from banking, business and journalism presenting their views and predictions for New Jersey in 2018. Each has been recognized by their peers for leadership and outstanding achievement in their respective disciplines. Don't miss this one, register today!

Read More

 
Save the Dates for this spring's NJ March for Babies

Each week in NJ, 227 babies are born too soon. As a result, they can face serious health complications, physical and learning disabilities and some will not reach their first birthday.  March for Babies is the number one fundraising event for the March of Dimes that brings walkers, volunteers and sponsors together to celebrate their community. Coworkers, families and friends participate to fight premature birth and give more babies a healthy start. It’s never too soon to begin planning for this initiative. Here’s how you can get involved. Click here.

 

        

 
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