If this page doesn't display properly in your email, click here. July 10, 2019
New Jersey Bankers Association
NJBankers Congratulates Graduates of Rider University Veteran Entrepreneurship Program

The New Jersey Bankers Charitable Foundation made a $15,000 contribution earlier this year to help sponsor the Rider University Veteran Entrepreneurship Training Program. This was the fourth consecutive year that NJBankers helped to support the program. There were seven veterans who completed the program which trained the veteran's on how to either start a new business or expand an existing one. Examples of the types of businesses included a multi-cultural hair salon, a short distance moving company, a Mediterranean Café and an online app to assist servicemen and servicewomen in finding new residences when they're transferred. After congratulating the program graduates, NJBankers President/CEO John McWeeney, Jr., who attended the ceremony at the University, reaffirmed the Association’s support for veterans. 

Pictured L to R: Dr. Mayank Jaiswal (instructor), John E. McWeeney, Jr., president & CEO, NJBankers, Elsa Negrin, Sean Smith, Ed Smith, Marissa Sarden, Darien Goens, Chase Taylor and Dr. Ronald Cook, director of Rider’s Center for Entrepreneurial Studies.

 
Industry News

Agencies Adopt Final Rule to Exclude Community Banks from the Volcker Rule
Five federal financial regulatory agencies including the OCC, FDIC, Federal Reserve, CFTC and SEC, have announced that they adopted a final rule to exclude community banks from the Volcker Rule, consistent with the Economic Growth, Regulatory Relief, and Consumer Protection Act.

Agencies Simplify Regulatory Capital Rules
The financial regulatory agencies including the OCC, Federal Reserve, and FDIC have issued a joint final rule to simplify the Basel III regulatory capital calculations for all but the very largest banks. The final rule simplifies the treatment of assets subject to common equity tier 1 capital threshold deductions and limitations on minority interest.


Consumers Indicate Continued Optimism about Job Availability; Inflation Expectations Tick Up
The Federal Reserve Bank of New York’s Center for Microeconomic Data has released the June 2019 Survey of Consumer Expectations which shows an increase in short- and medium- term inflation expectations. Respondents were generally more upbeat about their financial situation and about the labor market, with expectations about the U.S. unemployment rate, finding a job, and losing one’s job all improving.

Building Collaboration between Banks and Law Enforcement to Prevent and Address Elder Financial Abuse
July 25, 2019 - 2:00 – 3:00 pm
The FDIC is co-hosting a webinar with the Consumer Financial Protection Bureau on July 25, 2019 from 2:00 p.m. to 3:00 p.m. ET to promote appropriate ways in which financial institutions and law enforcement can collaborate to prevent and address elder financial abuse. In particular, the webinar will provide financial institutions with resources and strategies to develop strategic working relationships with law enforcement to address elder financial abuse.

OCC Issues Resources on HOLA Flexibility Final Rule

On May 24, 2019, the Office of the Comptroller of the Currency (OCC) issued a final rule to allow federal savings associations with total consolidated assets of $20 billion or less, as reported by the association to the Comptroller on its call report as of December 31, 2017, to elect to operate as covered savings associations. A covered savings association is able to engage in national bank powers. The final rule provides these federal savings associations with additional flexibility to adapt their business model without changing their charters and establishes a streamlined election process for them to operate as covered savings associations.

CFPB Extends Comment Period For ANPR on HMDA Data Points
The Consumer Financial Protection Bureau has announced that it is extending the comment period on its ANPR relating to HMDA. The extension will give interested parties an opportunity to review the Bureau’s annual overview of residential mortgage lending based on the HMDA data financial institutions collected in 2018. The ANPR, issued on May 2, 2019, solicits comment on certain data points in the Bureau’s October 2015 final rule that were added to Regulation C or revised to require additional information, and on coverage of certain business- or commercial-purpose loans. The comment period will be extended from July 8, 2019 to October 15, 2019.

 
 






UPCOMING EVENTS

The Bankers Cup
August 6, 2019

2019 Compliance University
September 11-12, 2019

Annual Senior Management Conference 
September 22, 2019

Cybersecurity Incident Response Planning Seminar 
October 3, 2019

Regulatory Visit to Washington, DC
October 3, 2019

See njbankers.com for details.

Other Industry Meetings
View Other Meetings
Mark Your Calendar
View Upcoming Events
Member News

Goodbye, Boiling Springs; hello, Blue Foundry
Boiling Springs Savings Bank, based in Rutherford, has changed its name. The bank and financial services provider will be called Blue Foundry Bank. The new name reflects a reinvention and acknowledges today’s community members — makers, movers and shakers — it added.

Columbia Bank Announces Appointment of Oliver Lewis
Columbia Bank announced that Oliver Lewis has been appointed to Senior Vice President, Commercial Banking Market Manager. In his new role, Lewis will be responsible for the bank’s Commercial and Industrial (C&I) and Middle Market activities in central and southern New Jersey as well as parts of Pennsylvania.

First National Bank of Elmer may not be down the Shore, but it’s making inroads with seafood industry
When the First National Bank of Elmer got started 115 years ago, it was founded in a barbershop in its namesake Salem County borough. That’s at least an hour’s drive from the Shore. So, when the bank recently went fishing for a customer segment, what it came up with might be a surprise.

Lakeland Bank Named a “Best-In-State Bank” by Forbes and Statista
Thomas J. Shara, president and CEO of Lakeland Bancorp, has announced that Lakeland Bank has been named by Forbes and Statista to the “America’s Best-In-State Banks” list for 2019.

Magyar Bank Announces New Chief Lending Officer
Magyar Bank announced that Peter M. Brown has been named as Chief Lending Officer. Brown has over thirty years’ experience in the Banking Industry, and has been with Magyar Bank for six years as Vice President, Commercial Lending Officer. 

OceanFirst adds former Goldman exec to board
Steven Scopellite was appointed to the boards of OceanFirst Bank NA and its holding company, OceanFirst Financial Corp., effective immediately.


URSB Welcomes Timothy J. Touhey to Board of Directors

URSB announced that Timothy J. Touhey has joined the Bank’s Board of Directors. Mr. Touhey currently serves as the Chief Executive Officer for Atlys Global, a $500 million national lending platform that benefits states and communities impacted by natural disasters. Atlys Global is also the leading financial company in providing capital to Puerto Rico, St. Thomas and St. Croix in the wake of Hurricane Maria’s devastation in 2017.

Wells Fargo/Gallup Study: Investor Optimism Drops 18 Points from a Year Ago
The Wells Fargo/Gallup Investor and Retirement Optimism Index dropped to 85 for second quarter 2019, down 18 points from 103 a year ago. Investors are less optimistic than a year ago about maintaining their household income and reaching their 12-month and five-year investing goals. 

 
It's time to nominate your bank's up-and-coming leaders for an NJBankers Rising Star Award!

 

NJBankers Rising Star Awards recognize the up and coming, energetic new leaders of the banking industry. You know who they are at your bank so nominate your rising stars for an award! Let us spotlight their success!

Take advantage of this opportunity to show them that you applaud their achievements, value and service to your bank, the banking industry and the communities they serve with this prestigious award.

It’s simple! Just tell us why you feel your Rising Star deserves an award. Complete a Nomination Form and submit your nomination(s) by Friday, September 6, 2019. A panel of independent judges will review all entries and select the winners who will be notified on Thursday, September 19, 2019 along with the nominator.

All winners will be recognized at the Awards Dinner to be held at the Stone House at Stirling Ridge in Warren, NJ on November 7, 2019.

 

 

 
Endorsed Service Provider News

Seller's Market? A guide to finding liquidity among your holdings
By: Jim Reber, President and CEO, ICBA Securities
Quick: What’re the most saleable assets on your community bank’s balance sheet? If you get this wrong, you need to be running a “not-for-profit depository financial institution.”


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.


 
Associate Member News

Artiles named head of McCarter & English cannabis practice
Artiles rejoined the firm in January to help lead its government affairs practice. In his new role, he leads a group of about 20 cannabis business attorneys. 

 
Kudos to Associate Members Recognized on the 2019 NJBIZ Law Power 50

According to NJBIZ, a  statewide business publication, there are a lot of places where lawyers demonstrate their skills and acumen — the courtroom, the boardroom, legislative chambers or at the bargaining table. The professionals who were recognized help set the agenda for NJ.

Congratulations to NJBankers Associate Members recognized on the NJBIZ Law Power 50! 

Check out the list here! 

 
Volunteer Today! NJBankers Continues Philanthropic Parternership with Eva's Village

NJBankers is excited to announce that we will be continuing our philanthropic partnership with Eva’s Village this year. Together we led a highly successful first year with Eva’s Village by donating a total of $30,000 which provided 51,600 meals to homeless and indigent individuals. Members' generosity has been noted and you’ve made a huge difference in people’s lives. We encourage your participation. Volunteer spots fill up fast. Please contact Erin Suckiel at esuckiel@njbankers.com or 908-272-8500 ext. 629 to participate.

 
The Bankers Cup Golf and Networking Outing
Sponsorships Available!

Tuesday, August 6, 2019 - Fiddlers Elbow Country Club
Join more than 200 NJBankers members for a day of networking and connections at The Bankers Cup. Gain visibility and recognition at our premier golf outing through a sponsorship. Contact Jenn Zorn at 908-272-8500 ext. 611 or jzorn@njbankers.com.    

Read More 

 
NJBankers Senior Management Conference

Sunday, September 22, 2019 – Tuesday, September 24, 2019

Registration is now open!
Your guidance drives the success of your bank. Your C-level and Senior management team put your vision into action. Your directors have the duty to govern your bank prudently.

At the Senior Management Conference, discover the top trends and topics that will help you guide your bank to excellence. Learn how AI isn’t science fiction but a solution. Explore if M&A is the way to drive deposits. Examine the most frightening cybersecurity threats. And that’s just the General Session. Take a look at the program and take advantage of a Conference combining the information you need with social & networking opportunities like receptions with savory and sweet treats, the acclaimed golf tournament & fishing excursion.

This year, take advantage of the early bird discount if you register by August 23rd

Make your hotel reservations NOW at https://book.passkey.com/go/GBNJA19.

Room reservations may be made by calling Borgata Hotel & Casino at: 609-317-1000 and identifying yourself as an attendee of NJBankers Senior Management Conference Group Code: GBNJA19 or online at:
https://book.passkey.com/event/49676682/owner/9863/home

Reservations must be received by August 26, 2019. Any requests for rooms after that date will be handled on a space-available basis only.

Check out the Program here! 

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

2019 Compliance Conference
Wednesday, September 11, 2019 - Thursday, September 12, 2019
The Sheraton Edison Raritan Center

Compliance managers must first identify the most significant compliance risks and then propose and maintain controls to mitigate those risks. Questions continue to emerge and Compliance University presents timely topics to ensure that you have the tools for a successful compliance program.

Cybersecurity Incident Response Planning Seminar
Thursday, October 3, 2019 
NJBankers Office, Cranford

In this highly interactive workshop, attendees will learn how to build and implement an incident response program. Participants will be taken through the six phases of the framework: Preparation, Identification, Containment, Eradication, Recovery and Lessons learned, to understand the practical application of each element.
Attendees will partake in real world scenario testing and work in teams to develop appropriate responses to attacks.

Regulatory Visit to Washington D.C.
Thursday-Friday, October 3-4, 2019
There’s empathy and movement in Washington regarding the regulatory burden on banks and the ability to address the needs of consumers and businesses in the communities they serve. Success on the regulatory front depends on action and NJBankers is providing the opportunity to be heard. The Regulatory Visit to Washington connects NJBankers members with the FDIC, OCC, Federal Reserve, CFPB, FHFA and Treasury for two days in the nation’s capital. Your participation is vital so regulators understand the concerns of the banking industry and incorporate them into their guidance. Join us!

 
FMS NY/NJ Chapter announces East Coast Regional Conference

September 8 - 10, 2019
Long Branch, NJ

The Financial Managers Society New York/New Jersey Chapter invites you to attend the FMS East Coast Regional Conference designed to explore trending topics that can provide attendees with a competitive edge.

Read More 

 
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.

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 

 

        

 
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