If this page doesn't display properly in your email, click here. June 20, 2018
New Jersey Bankers Association
Cummings and Martin Named NJBankers Recommended Candidates for FHLBNY Board

At its meeting of May 16, 2018, the NJBankers Board of Directors named Kevin Cummings, president and CEO of Investors Bank and Christopher Martin, chairman, president and CEO of Provident Bank as the NJBankers’ recommended candidates for reelection to the Federal Home Loan Bank of New York’s Board of Directors. Both candidates are eligible for another term.

Mr. Cummings is an incumbent director who currently serves on the Audit Committee as Vice Chairman and sits on the Corporate Governance and External Affairs Committee and the Compensation and Human Resources Committee. He has also served as a member of the Housing Committee and Risk Committee. 

Mr. Martin is an incumbent director and serves on the FHLBNY Technology Committee, Audit Committee, the Compensation and Human Resources Committee and is Vice Chair of the Corporate Governance and External Affairs Committee.

Both Messrs. Cummings and Martin have served on the NJBankers Board of Directors for many years. Mr. Cummings has served on the Board for seven years and rose to Chairman of the Association. Mr. Martin has served NJBankers as a Board Member several times for the past 10 years and is again serving as a Board member.

Prior to joining Investors Bank, Cummings had a 26-year career with the independent accounting firm of KPMG as an audit partner in the Financial Services practice in the New York office and lead partner on a major commercial banking client. He also worked in the New Jersey community bank practice for over 20 years.

Martin has been in the banking industry for more than 34 years and previously served as President and CEO of First Sentinel Bancorp, Inc. which was acquired by Provident Financial Services, Inc. in July 2004.

The NJBankers Board of Directors urges members that are also members of the FHLBNY to support the candidacy of Mr. Cummings and Mr. Martin when voting takes place later in the year.

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NJBankers Women in Banking Conference Knocks it Out of the Park
The Palace at Somerset Park, that is!

The NJBankers Women in Banking conference saw more than 435 attendees enjoy a day of Knowledge, Power and Mentorship.

The Conference was designed by the Women in Banking Planning Committee which provides direction each year for topics, a community-based organization for contributions and so much more. Just take a look at the speakers who shared their wisdom!


A number of the members of the Women in Banking Committee strike a pose!

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Conference Collaboration Facilitates Needs of NJ and NY Human Resources Professionals


Each year, NJBankers produces a Human Resources Conference that delivers speakers who address timely topics of interest to HR professionals. This year, NJBankers teamed up with the New York Bankers Association to hold a comprehensive conference that benefitted NJBankers members as well as our neighbors to the north.

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UPCOMING EVENTS

2018 Compliance University
June 20-22, 2018

Bank Security Seminar
June 27, 2018

Annual Summer Golf Outing and Networking Reception
August 14, 2018

Annual Senior Management Conference
September 24, 2018

See njbankers.com for details.

Other Industry Meetings
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Mark Your Calendar
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NJBankers in the News

The Future of Banking: Digital Apps, Big Data and Artificial Intelligence
More than 1 billion mobile phone users will have made use of their mobile devices for banking purposes by 2018, according to a report from Juniper Research. Most banks have at least one mobile banking offering, either via messaging, mobile browser or an app-based service.

*click headline for details

 
Industry News

ABA Foundation Community Commitment Awards
The ABA Foundation Community Commitment Awards is a national program that recognizes and promotes the many valuable ways banks of all sizes and charters contribute to economic growth, community development and enhancing the quality of life in their communities. The 2018 award entry period was open May 1 and entry forms are available online. All submissions must be completed and submitted by June 29 at 11:59 p.m. EST. Banks that submit an entry will have the opportunity to showcase their program on the Banks in Their Community interactive map.

Federal Reserve Bank of New York Business Leaders Survey
Activity in the region’s service sector expanded strongly, according to firms responding to the Federal Reserve Bank of New York’s June 2018 Business Leaders Survey. The survey’s headline business activity index climbed seven points to 21.4, its highest level in more than a decade. The business climate index increased nine points to 21.0, a sign that firms, on balance, regarded the business climate as better than normal.

Sydney Menefee Named Deputy Comptroller and Chief Accountant of the OCC
The Office of the Comptroller of the Currency (OCC) has announced the selection of Sydney Menefee to be the agency’s next Deputy Comptroller and Chief Accountant. In this role, Menefee will lead the OCC's efforts for bank accounting and financial reporting, providing accounting counsel to examiners, the banking industry, and the accounting profession.

OCC Reports Mortgage Performance Unchanged
Performance of first-lien mortgages remained unchanged during the first quarter of 2018 compared with a year earlier, according to the Office of the OCC's quarterly report on mortgages.

Federal Reserve Bank of Kansas City Presents Banking and the Economy: A Forum for Minorities in Banking
September 27 - 28, 2018
The Federal Reserve System will host the third annual Banking and the Economy: A Forum for Minorities in Banking in Charlotte, NC. The Forum is designed to provide senior level or high potential middle management minority bank leaders with industry, leadership and professional development knowledge that will enhance their careers and networks.

FDIC's New Chairman Says She's Ready to Rethink Bank Oversight
Jelena McWilliams’s first public remarks as chairman of the Federal Deposit Insurance Corp. show she’s probably a good fit with other regulators President Donald Trump appointed to overhaul how banks are supervised. The former Fifth Third Bank executive was sworn in two weeks ago as the last of Trump’s appointed banking regulators, clearing the way for easing rules that they say have overburdened lenders. McWilliams said she wants to implement the recently enacted overhaul of the Dodd-Frank Act “as soon as possible” -- especially where it grants relief to smaller banks.

Agencies issue host state loan-to-deposit ratios
The Federal Reserve, Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency have issued the host state loan-to-deposit ratios that they will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. These ratios replace the prior year's ratios, which were released on June 21, 2017.

Federal Reserve Board approves action by the Board of Directors of the Federal Reserve Bank of New York
The Federal Reserve Board has approved action by the Board of Directors of the Federal Reserve Bank of New York, increasing the discount rate (the primary credit rate) at the Bank from 2-1/4 percent to 2-1/2 percent, effective June 14, 2018.

*click headline for details

 
Member News

Roselle Savings Bank Announces Three Executive Hires
Roselle Savings Bank has announced three executive hires. The new team members are part of an overall push toward the bank’s newly launched suite of expanded business banking. The new commercial banking products include a streamlined interest and non-interest-bearing checking services for businesses, as well as checking accounts geared specifically to small businesses. Vincent Bagarozza has been named Senior Vice President & Chief Lending Officer, Brian McMahon has joined as Senior Vice President & Information Technology Officer and Jeffrey Schneider as the banks new Business Development Officer.

First Bank Named a Best Performing Community Bank
First Bank has been named one of S&P Global Market Intelligence’s Best-Performing Community Banks for its record of growth and profitability. S&P Global Market Intelligence, a leader in multi-asset class research data and insight, released its annual rankings of 2017's best-performing community banks with assets between $1 billion and $10 billion.

Metuchen Savings Bank Merger with Manasquan Bank to Strengthen Community Commitment and Broaden Services
Metuchen Bancorp, Inc., the holding company for Metuchen Savings Bank, announces that the merger with Manasquan Bank will allow Metuchen Savings Bank to maintain its community focus, while offering expanded products and services to its customers. Under the definitive agreement announced on May 24, the 121-year-old institution will continue to operate independently for up to a two-year period and Katherine Liseno will remain President & CEO of Metuchen Savings Bank during that time. She will also serve on Manasquan’s Board of Directors for two years.

Newfield National Bank Promotes IT Officer, Julius Wilson
Newfield National Bank is pleased to announce that Julius Wilson was promoted to Chief Information Technology Officer. Wilson is responsible for overseeing all technical activities of Computer and Network Operations.

Lincoln 1st Bank names new chief financial officer
The Bank has named Erik J. Terpstra its new chief financial officer and vice president.

Columbia Bank opens Westfield branch
Fair Lawn-based Columbia Bank has opened a branch in Westfield, its 49th location in New Jersey. The branch will be managed by Antonella Minardo and located at 251 North Ave. W. As part of the opening, the branch will offer high-yield checking with an account opening bonus, special high yield certificates of deposit and other promotions.

Somerset Savings Bank awards grant to advocacy group
Central Jersey Housing Resource Center has received a $27,000 grant from Somerset Savings Bank to help support low and moderate income households find housing.

*click headline for details
 

 
Associate Member News

Dr. Alan Blinder Discusses Rate Increase by FOMC
At its most recent meeting, the Fed decided to raise interest rates. Promontory Interfinancial Network is sharing Princeton economist Dr. Alan Blinder’s assessment of the Federal Open Market Committee meeting and the impacts that decision might have.

*click headline for details
 

 
NJBankers Leadership Academy

The New Jersey Bankers Leadership Academy is an opportunity to learn the skills for moving the bank into the future and ultimately support advocating for the banking industry.

Directors Training Web Seminars
The Webinar Package in conjunction with FinPro 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. 

**Please Note:
FINTECH - FRIEND OR FOE? Webinar - New Date: Thursday, June 21, 2018, 11:00 a.m.

FinPro Webinar: ALCO & INTEREST RATE RISK
Thursday | June 28, 2018 | 11am
An Asset Liability Committee’s (ALCO) role is to provide important management information systems (MIS) and oversight for effectively evaluating on- and off-balance-sheet risk. Members incorporate interest rate risk and liquidity consideration into a bank's operating model. This webinar will focus on hot topics, best practices and key strategies that your institution can implement to avoid regulatory criticism and build value for your institution.  Join Gregory S. Garcia, Senior Managing Director, along with some special guests as we take an inside look into this important area facing institutions today and how best to prepare.  


*click headline for details 

 
Bank Security Seminar

Wednesday, June 27, 2018
Brookdale Community College, Lincroft
A one-day continuing education security seminar for anyone with responsibilities in bank security, risk management, bank operations or administration, legal counsel and fraud prevention. 
Your day will include the following topics: National Security Update, Robbery Training for Front Line Staff, The Four L's of Physical Security, Securing the Future and Call Center Security: Dialing for Dollars.

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Annual Summer Golf Outing and Networking Reception

Tuesday, August 14, 2018
Fiddler's Elbow Country Club
811 Rattlesnake Bridge Road, Bedminster
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! You don't need to be a golfer to enjoy networking in a casual atmosphere!

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2018 Bank Trainers Conference


June 26-28, 2018
OMNI HOTEL and RESORT
ChampionsGate – Orlando, Florida

The CBA is pleased to announce that they have joined the Bank Trainers Conference as an Event Partner.  The 2018 Conference is being hosted by the Center for Financial Training and Total Training Solutions.

The Bank Trainers Conference (BankTrainers.com) is designed for employees of financial institutions who are involved in training within their organization. 

AGENDA
This conference is action packed with two days of several sessions and more being added every day!  The program includes 2 pre-conference workshops, 13 confirmed speakers (with more coming), more than 30 training sessions, 3 learning tracks and networking with over 150 of your peers!  To view the entire schedule, visit http://banktrainers.com/agenda/.

REGISTRATION INFORMATION
To register, click here Select “State Association/League - Enter Referral Code Below” in the “How Did You Hear About This Conference?” section.  Type “NJBA” in the “Referral Code” box.

 
Monmouth Park Charity Bank Challenge for Charity

Sunday, July 29, 2018
Monmouth Park Racetrack in Oceanport, NJ.

Monmouth Park Charity Fund is holding their Annual Haskell Day - Annual 50-50 Raffle Day fundraiser. The mission of the Monmouth Park Charity Fund is to raise and distribute funds to non-profit agencies in Monmouth County that provide services related to health, those at risk in the community, and those in need of special services. Since 1946, more than 100 service organizations have been recipients of contributions from the Monmouth Park Charity Fund. To date, the Fund has distributed over $9,400,000 to nonprofit agencies and health-care facilities that provide services to residents in Monmouth County.

Click here for more information 

 
Check Out Endorsed Service Provider PMC's Winter/Spring 2018 Seminar(s)

Go for the gold with the Best IRA Training Value in America!  Announcing PMC’s Winter/Spring 2018 IRA Seminar tour.  As an endorsed service provider of NJBankers, PMC’s acclaimed staff will be conducting two day IRA training workshops in 14 convenient locations; in particular, Vineland and Cranford, NJ.

Note: All current members of NJBankers registered for one or two days of solid IRA & HSA training from PMC will receive 10% discount off of their low registration fee.

For more information and to register, Click here or call PMC at 800-233-3207. 

 
PMC's 2018 IRA Reference Volumes

No other IRA resources are updated and relied upon as PMC’s 2018 IRA Reference Volumes.  Utilizing PMC’s IRA reference volumes will give you confidence knowing you’re the IRA expert. Check out their three great options, perfect for any individual or team, and know that all current NJBankers members will receive a 10% discount when purchasing the most respected IRA Reference Volumes in America!  Order today: Click here!

 

        

 
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