If this page doesn't display properly in your email, click here. April 3, 2019
New Jersey Bankers Association
Industry News

Federal Reserve Bank of New York Business Leaders Survey
Activity in the region’s service sector grew modestly, according to firms responding to the Federal Reserve Bank of New York’s March 2019 Business Leaders Survey. The survey’s headline business activity index fell three points to 10.8, indicating a slightly slower pace of growth than last month.

CFPB Report Highlights 98% Timely Response Rate to Complaints in 2018
The Consumer Financial Protection Bureau reported that banks and other companies responded in a timely manner to 98% of complaints submitted through the bureau in 2018, according to its 2018 Consumer Response Annual Report. The timely response rate reflects an increase of one percentage point from 2017.

Federal Reserve Board releases document providing additional information on its stress testing program
The Federal Reserve Board has released a document providing additional information on its stress testing program. The release of the document follows an announcement in February that the Board had finalized changes intended to increase the transparency of its stress tests without compromising their ability to test the resiliency of the nation's largest banks.
 
Regulators to Host Webinar on CECL
The federal financial institution regulatory agencies will host an interagency webinar on Thursday, April 11, at 2 p.m. EDT, covering the use of the weighted-average remaining maturity (WARM) method for estimating allowances for credit losses under CECL

Revised Interagency Examination Procedure
The Task Force on Consumer Compliance of the Federal Financial Institutions Examination Council (FFIEC) recently developed interagency examination procedures for Truth in Lending Act (TILA), implemented by Regulation Z and Electronic Fund Transfer Act (EFTA), implemented by Regulation E. 

 
Member News

Assemblywoman Angela McKnight and Cross River to Present a Series of Community Events for Financial Literacy Month
Together with Assemblywoman Angela McKnight (D- Hudson), Cross River Bank (“Cross River”), a New Jersey financial institution known for its innovative use of new technology, will be hosting a series of local events for National Financial Literacy Month in April.

Bradley Cusick joins Newfield National Bank as Senior Vice President/Commercial Lending Officer
John Borelli, Jr., President/CEO of Newfield National Bank recently announced the addition of Bradley Cusick, as Senior Vice President/Commercial Lending Officer. Cusick will focus on further expanding the bank’s commercial relationships in Camden and Burlington counties.

Valley National promotes banking veteran to EVP, chief accounting officer
Valley National Bancorp, the holding company for Valley National Bank, announced it promoted Mitchell Crandell to executive vice president, chief accounting officer.

URSB Launches Program Linking Checking Accounts and Non-Profit Organizations
URSB, Carteret’s hometown bank with over 100 years of an outstanding reputation for personalized service and commitment to the community, has introduced a Community Checking Account program designed to help local civic organizations, such as the local PBA or VFW, and non-profit organizations raise money while offering cash incentives to new customers.

Columbia Bank Announces The Appointment of Yvette Encarnacion As Senior Vice President, Human Resources
Columbia Bank is pleased to announce that Yvette Encarnacion has been appointed to Senior Vice President, Human Resources. In her new role, Ms. Encarnacion will direct the bank’s Human Resources initiatives in recruitment, employee development, compensation, and employee relations.   

 
Congratulations to NJBankers Members on the 2019 NJBIZ Power 100 List

NJBankers congratulates our members who have been chosen to appear on the NJBIZ Power 100 List. According to NJBIZ, a statewide business publication, these individuals are in positions to help shape the future of New Jersey.

Members include:
Joseph Boccassini, McCarter & English
Linda Bowden, PNC
Max Crane, Sills Cummis & Gross
Kevin Cummings, Investors Bank
Edward Deutsch, McElroy, Deutsch, Mulvaney & Carpenter
Robert Doherty, Bank of America
Patrick Dunican, Gibbons
Frank Giantomasi, Chiesa Shahinian & Giantomasi
John Harmon, African American Chamber of Commerce
Dan Schwartz, Chiesa Shahinian & Giantomasi
Gary Wingens, Lowenstein Sandler
Ted Zangari, Sills Cummis & Gross 

 
 






UPCOMING EVENTS

Marijuana Conference
April 9, 2019

STOC Conference 
April 10, 2019

Emerging Financial Leaders Group - Topgolf Networking Event
April 11, 2019

Accounting & Tax Seminar With FMS - NY/NJ
April 12, 2019

115th Annual Conference

 May 1-5, 2019
 

Women in Banking Conference
June 12, 2019

See njbankers.com for details.

Other Industry Meetings
View Other Meetings
Mark Your Calendar
View Upcoming Events
Endorsed Service Provider News

CRA Credit That’s Worth a Lot More Webinar - Time is Running Out!
Wednesday, April 17, 2019
10:00 am ET
Webinar Questions? Call 901-529-4765
CRA Partners is a compliance solution you can feel good about. Join this webinar to discover how your bank can lead the fight against elder abuse in your community and receive CRA credit on both the lending and investment test, along with service credit consideration – all through our unique, turnkey program. Register today and see how you can fulfill your CRA compliance by helping elders in your community. Meaningful CRA credit might be closer than you think.

BOLI - IRS Proposes New Transfer for Value Regulation
BFS-MC Group provides an Update and Potential Correction

On March 22, 2019, the Internal Revenue Service and the Treasury Department issued proposed regulations that potentially provides the needed clarity regarding circumstances in which bank owned life insurance policies are transferred as part of a bank merger or acquisition. In general, the guidance provides that tax-free transfers of policies between C corporations that do not have more than 50 percent of their assets in BOLI policies are not subject to the new reporting and income inclusion rules. This is an important exception and very good news. Click Here for a summary write-up and more details on the proposed regulations.

Community Banking Matters
ICBA Securities Corporation has partnered with Vining Sparks as an exclusively endorsed broker. Save the dates for their webinar series, Community Banking Matters. Take a look at the 2019 webinar dates and topics including:

  • Municipal Market Update: Investment Strategies and Credit
  • Balance Sheet Strategies for 2019
  • Balance Sheet Management for 2019
  • Mortgage Market Update and Opportunities and so many other topics to make your bank successful.

    Please see the article that follows for an upcoming Seminar. 
     

Register Now for Vining Sparks' and ICBA Securities' Balance Sheet Academy
Learn Portfolio and Balance Sheet Management with Your Peers
April 29-30, 2019
Embassy Suites, Memphis, TN
The Balance Sheet Academy advanced seminar is designed to expose seasoned community bank portfolio and balance sheet managers to advanced products and concepts.  The objective of this seminar is to enable the attendees to consistently outperform their peers. Join Vining Sparks and ICBA Securities and learn how the changing economic data impacts market interest rates. 

 
Associate Member News

Loren A. Weil Joins Holland & Knight
Loren A. Weil has joined as a partner in the Chicago office. Weil is a banking and finance lawyer who focuses his practice on a variety of corporate finance transactions. He has more than 30 years of experience representing banks, private debt funds and commercial lenders in loan transactions, workouts and other complex financial transactions.

Jamie Perry Named 2019 Woman of Innovation
COCC’s own Jamie Perry, Vice President, Corporate Risk Management at COCC, was honored as one of 11 winners at the 15th Annual Women of Innovation Awards. The awards, presented by the Connecticut Technology Council, honored 50 finalists for their contributions in science, technology, engineering and mathematics (STEM)

Verasoni Worldwide Appoints Rebecca Neill As Chief Operating Officer
Verasoni Worldwide has announced the appointment of Rebecca Neill as Chief Operating Officer effective April 1, 2019. Neill served as Director of Key Accounts since joining the firm in March 2017. 

 
In Memoriam

It is with sadness that we report the passing of Francis J. Coccaro, Jr. 84, of Hasbrouck Heights formerly of Jersey City, NJ and father of Joseph Coccaro, president & CEO of Bogota Savings Bank. Francis passed away peacefully at his home on Tuesday, March 26, 2019.

Read More 

 

 

 
115th Annual Conference

The Broadmoor, Colorado Springs, CO
May 1-5, 2019

NJBankers is heading to Colorado Springs

Feel like you're on top of the world and experience the NJBankers Annual Conference at the acclaimed Broadmoor in Colorado Springs, a resort that captures the spirit of the west. After being inspired by our renowned speakers, there are endless opportunities to explore this iconic resort, the awe-inspiring Rocky Mountains, golfing at the foothills of Cheyenne Mountain, fly fishing in a cool mountain stream, and so many more adventures! 

Check out this years Tours!

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

Marijuana Conference
April 9, 2019
9:00 am – 2:15 pm
The Sheraton Edison Raritan Center, Edison
Banking Marijuana- What is a bank to do?
The use of marijuana is legal, to some degree, in thirty-three states, the District of Columbia, Guam and Puerto Rico. Yet the possession, distribution or sale of marijuana remains illegal under federal law. This results in challenges for banking marijuana – is it even possible? The NJBankers Marijuana Conference will feature experts with insight about marijuana and the cannabis industry.

STOC Conference
April 10, 2019
The Sheraton Edison Raritan Center
The world of Security, Technology, Operations and Cybersecurity advances quickly. How do you position yourself as the expert that can help bankers through it all? You become a sponsor of the inaugural NJBankers STOC Conference! This Conference is for bankers who keep their banks, staff and customers safe and informed. Reach bankers who keep their products & services functioning with a seamless execution in the back office. If you offer products & services for a STOC banker, build awareness of your company’s solutions with a sponsorship!
For sponsorships, contact Jenn Zorn, SVP/Director of Education and Business Development at jzorn@njbankers.com.

Human Resources Conference
May 14, 2019
The Heldrich Hotel, New Brunswick
In less than two years, sweeping laws have changed the employment landscape. Get up to speed with these new labor laws to ensure compliance, and have policies in place to defend claims by employees. Get tips for combatting leave of absence abuse, work at home issues, and managing technology in the workplace.

 
2019 Director Webinar Package

 
Bank boards are under regulatory, economic and competitive pressures especially as the banking industry continues to innovate and evolve.  

The 2019 Director Webinar Series, a partnership between NJBankers and FinPro, is a year-long series of educational opportunities designed to address prudent governance, mitigate risk, and develop effective supervision skills.

The Director Webinar Series helps your board easily earn credits to show regulators that directors are active, informed, prudent and provide independent guidance to executive leadership. In today's world, directors must demonstrate that they have the skills to oversee the bank effectively.

The Director Webinar Series provides broad exposure to the challenges and opportunities faced by all banks. With the Director Webinar Series, directors will demonstrate that they are keeping abreast of industry developments and trends all while participating in a flexible learning platform that fits their lifestyle.

Whether a seasoned director or new to the responsibility, directors will emerge with a focused understanding and tools for providing prudent governance and independent guidance to bank leadership. Take advantage of this program and demonstrate that the Board is active and the bank compliant.

Read More 

 
NJ State Bar Association Reception and Dinner

94 Church Street, New Brunswick, NJ
Wednesday, April 10, 2019

The Banking Law Section of the NJ State Bar Association will hold an informal cocktail reception and dinner at Panico’s restaurant in New Brunswick, NJ.  This is a great opportunity to meet other members of the banking bar from New Jersey and beyond.  Even if not a member of the Banking Law Section, this is a great networking opportunity! Click here for Registration Information.

Read More 

 
NJCC Recruiting volunteers for the Jobs for New Jersey Graduates (JNJG) Career Development Conference
This annual event brings together over 150 JNJG students from Vineland, Camden, New Brunswick, Newark and Carteret to engage in friendly competitions that showcase the skills they have developed in 11 categories.  The day starts at 8:45 am for our business volunteers who will receive training on the competitive events and rubric prior to the arrival of the students at 9:30.  Judging begins at 10:00 and concludes at 1:00.  The awards ceremony runs from 1:00 to 2:00 and then the students are dismissed.  Breakfast and lunch are provided.

Read More 

 
FMS NY/NJ Chapter Releases Professional Development Opportunities for 2019

The Financial Managers Society NY/NJ Chapter is dedicated to enhance the professional development of financial personnel within financial institutions. The Chapter has released the 2019 schedule of seminars and events. The schedule can be found here.

Half Day Seminar with FMS/NJBankers
April 12, 2019
A half-day conference jointly sponsored by the NY/NJ Chapter and the New Jersey Bankers Association. An expert panel of speakers will present a range of topics including balance sheet strategies, an expert view of the economy, industry financial trends, asset/liability management techniques and more! Breakfast and a full course luncheon will be served. Click here for more information.

 
Bank Trainers 2019 Conference and Expo

May 7-9, 2019
Grand Hyatt Buckhead - Atlanta, Georgia

The Bank Trainers Conference and Expo is an annual educational event that brings together hundreds of training professionals, representing financial institutions from across the country and beyond. A wide-variety of workshops cover everything from eLearning and Gamification to Presentation Skills and Managing Change. Un-Paralleled Networking Opportunities with the greatest minds in Learning and Development await you at every turn.

Click here for more information! 

 
PMC's 2019 IRA Reference Volumes & Upcoming Winter/Spring 2019 IRA Seminar Tour

No other IRA resources are updated and relied upon as PMC’s 2019 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!

Also the PMC's 2019 IRA & HSA Customer Brochures have been updated to reflect retirement plan and HSA limits (with applicable cost-of-living adjustments) for 2019. Click here for more information.

**Click here to check out PMC's upcoming Winter/Spring 2019 IRA seminar tour**

 

        

 
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