If this page doesn't display properly in your email, click here. January 8, 2020
New Jersey Bankers Association
NJBankers in the News

State’s evidence: Murphy’s plan for state bank has sector’s experts looking to North Dakota for pros, cons

Mike Affuso, director of government relations at the New Jersey Bankers Association, put it more bluntly. “This is totally unnecessary,” he said. “We don’t think New Jersey needs another state agency when we have over $100 billion in unfunded liabilities.”

Minority matters: NJBankers’ McWeeney says industry must do better job diversifying ownership, leadership roles

The banking industry’s nearly absent diversity in ownership roles has been an elephant in the room. But John McWeeney, CEO and president of the New Jersey Bankers Association, isn’t pretending he doesn’t see it.

Industry News

Agencies Release Annual CRA Asset-Size Threshold Adjustments for Small and Intermediate Small InstitutionsT

The federal bank regulatory agencies have announced the annual adjustment to the asset-size thresholds used to define small bank, small savings association, intermediate small bank, and intermediate small savings association under the Community Reinvestment Act (CRA) regulations.

Federal Reserve approves modifications to National Settlement Service and Fedwire® Funds Service to support enhancements to the same-day automated clearinghouse service

The Federal Reserve has approved modifications to the Federal Reserve Banks' National Settlement Service (NSS) and Fedwire Funds Service to support enhancements to the same-day automated clearinghouse (ACH) service. 

Commissioner Marlene Caride was entitled to quasi-judicial absolute immunity when she made the ruling that prompted the suit, Judge Freda Wolfson ruled.

After Wawa breach, banks reissue thousands of debit, credit cards to customers

At least four banks are proactively reissuing thousands of debit and credit cards in response to the Wawa data breach that exposed customers’ payment card information for roughly nine months.

Member News
Thomas J. Kemly, President and CEO of Columbia Bank, is pleased to announce that Damodaram (“Damu”) Bashyam has been appointed Executive Vice President, Chief Information and Digital Officer. In that role, Mr. Bashyam will be responsible for leading Columbia Bank’s efforts to further enhance its technology and digital banking strategies to support the institution’s growth by enriching its digital banking and technology strategies. 
Provident Bank has announced that it is adding to its executive team with three new hires. Paul Keshian joins the Jersey City-based bank as vice president, relationship management with Provident’s commercial real estate team; Nick Latora comes on board as vice president, relationship manager with the business banking team; and Tonika Moore will lead the Matawan branch location as banking center manager.
There’s no harbinger yet indicating that 2020 will be the year of economic slowdown, according to a top bank official. In fact, Pete Dontas, who leads Wells Fargo’s New Jersey commercial banking outfit, might say the opposite: There’s a healthy interest in securing commercial business loans in the Garden State near the calendar’s turn. And that’s a good sign.
Lakeland Bank President and CEO Thomas Shara announced the addition of Bharat “BG” Nara to the Oak Ridge-based financial institution. Nara brings more than 20 years of industry experience to his new role as first senior vice president and director of the Technology Services Group, which Lakeland said will charge him with managing operations, strategic planning and future designs for that department.
Somerset Savings Bank Names New President
Somerset Savings Bank announced that Christopher Pribula has been named President and Chief Operating Officer of the Bank.  He is also a member of the Bank’s Board of Directors having first been elected to the Board in 2018. Pribula was previously Executive Vice President and Chief Operating Officer.  He joined the Bank in 2006 and has over 30 years of experience in the financial services industry. 
BCB Bank President and Chief Executive Thomas Coughlin has joined the board at the New Jersey CannaBusiness Association. Coughlin’s been in the banking industry for nearly four decades and believing that Bayonne was underserved by community banks, he co-founded Bayonne Community Bank, now BCB Bank, in 2000. 
Bottomline Technologies, a financial technology company, announced that it will help digitally transform Peapack-Gladstone Bank’s client experience through its Digital Banking IQTM Relationship Management and Insights.
Blue Foundry Bank Adds Seasoned Channel Management Expert to Team
Blue Foundry Bank, one of northern New Jersey’s largest community banks,  announces the addition of industry leader, Betty Medina, to its team as AVP/Channel Management Leader. In her role, Medina will be leading Channel Center operations, focusing on excellence in service delivery and the elevation of customer experience. She will be responsible for the development of a multi-channel contact center where customers will have the option to choose their preferred method of banking.
Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market:  PGC) and Peapack-Gladstone Bank are proud to announce that Douglas L. Kennedy, President and Chief Executive Officer, has been appointed to the Board of Directors of the Federal Reserve Bank of New York.  Mr. Kennedy was elected by peer member banks as a “Class A Director” for a three-year term ending December 31, 2022.
Bancorp of New Jersey Inc. is officially part of ConnectOne Bancorp Inc., following the Jan. 2 closing of its $113 million acquisition, first announced in August.
Bank of America has named Alberto Garofalo as market president for New Jersey. Garofalo succeeds Market President Bob Doherty, who continues to serve on the New Jersey leadership team and as a wholesale credit manager for the Healthcare, Education and Not-for-Profit group in the Northeast. As market president, he will be responsible for connecting the banking and investment resources offered through the company’s eight lines of business to companies, families and individuals in New Jersey. 
There’s always winners and losers when it comes to which banks totaled the most Small Business Administration loans to local businesses throughout the year.
Kearny Bank has its sights set on heading west in the Garden State, expanding branch operations into Somerset and Morris counties, and a millions-of-dollars merger is set to help the financial institution achieve that goal.
Northfield Bancorp. Inc. and VSB Bancorp Inc. – the parent company of Victory State Bank – said they entered a definitive agreement that will merge Victory with and into Northfield. 
First National Bank of Elmer Senior Vice President and Chief Financial Officer Matthew Swift is taking on an additional role, and new responsibilities, at the community bank.

Other Industry Meetings
View Other Meetings


Economic Leadership Forum
January 17, 2020

Thursday, March 5, 2020
Thursday, March 26, 2020
Women in Banking Conference
June 17, 2020

See njbankers.com for details.

Endorsed Service Provider News

Workshops will cover SECURE Act changes to IRA Contributions, IRA Distributions, Lifetime RMD Rules and IRA Death Distribution Rules!

Whether you are new to the industry or a seasoned professional, NJBankers Endorsed Service Provider PMC, a leader in  banker education for IRAs, guarantees that their 1 or 2-day workshops will build the confidence and ability to understand these valued products so attendees can provide the best service and expertise to your customers and prospects, especially the Baby Boomers who are nearing retirement.
Information about IRAs (and HSAs) can be a lot to digest for the banker and the customer! You need to be ready with up-to-the-second information about the advantages and potential setbacks of contributions, distributions, rollovers, conversions, transfers and inherited IRAs. 
Associate Member News
P&G Associates has changed the company’s name to acxell. Email contact information has been updated with a shift to end email addresses to end in @acxellrms. The company notes that you’ll still receive the same thoughtful communication but from a revitalized brand. Their website has changed to www.acxellrms.com and will be redesigned in 2020.
Abrigo, the leading technology provider of compliance, credit risk, and lending solutions for community financial institutions, is proud to be named a Best-In-Class vendor by Aite Group in its December 2019 Commercial Loan Origination Vendor Impact report. Of the 16 vendors evaluated for the report, Abrigo’s technology, the Sageworks Lending and Credit Solutions, scored a Best-In-Class rating. 
In addition, Abrigo presents AI, Machine Learning, and your BSA/AML Program
January 30, 2020, 1:00pm
In this webinar, Gary M. Shiffman, PhD, will explain the role of Artificial Intelligence (AI) and Machine Learning (ML) in your BSA/AML program. 
Nationally ranked Top 50 CPA firm The Bonadio Group added 52 assistant accountants this month in the firm’s offices throughout New York state with two joining the New York City office. More than 150 current employees – six in New York City – were also promoted to new positions, effective January 1, 2020.
Bankers Cooperative Group has New Addresses for Website and Email

Bankers Cooperative Group (BCG), the licensed insurance brokerage facility of NJBankers, has a new address for their website and emails.The address for BCG's website has changed to www.bcg-nj.com . You will no longer be able to access the website with the previous address. In addition, the email extensions for reaching BCG representatives has changed to bcg-nj.com. As an example, to reach Rich Siderko, president and CEO of BCG, you would use the address rsiderko@bcg-nj.com. The same goes for the BCG staff. 
Economic Leadership Forum Sold Out!


The Economic Leadership Forum is Sold Out so registration is now closed. We have 600 guests who see the value of the Forum so don’t forget to save the date for next year – January 15, 2021.

This year’s speakers include Steve Forbes, an internationally respected authority in Economics, Finance and Corporate Leadership; Karl Rove, Former Deputy Chief of Staff and Senior Advisor to President George W. Bush and a foremost Conservative Commentator and Strategist; Patrick Harker, President and CEO of the Philadelphia Federal Reserve and a sitting member of the FOMC; and Jelena Williams, Chair of the FDIC.

Featured concurrent session topics will include: The Importance of Diversity & Inclusion in Financial Services, presented by Federal Home Loan Bank of New York; Low Income Housing Tax Credits and Opportunity Zones: Synergies and Conflicts”  presented by Day Pitney LLP; How Community Bank Data Reveals a Hidden Portrait of the U.S. Economy, presented by The Invictus Group; and How Explainable Artificial Intelligence (XAI) Based Credit & Fraud Risk Modeling are Helping Banks in Making More Accurate Decisions presented by Matrix Analytics Corporation.

We are pleased to note that we added two more speakers to the Diversity and Inclusion panel: Marlene Caride, Commissioner of the New Jersey Department of Banking and Insurance and Lucy Sorrentini, the CEO of Impact Consulting.

Don’t miss out next year! Look out for “Save the Date” reminders!

116th Annual Conference - San Diego Here We Come! ROOM BLOCK IS OPEN
May 27 - 31, 2020
Manchester Grand Hyatt San Diego
San Diego, CA
We mean it!
The hotel expects to be sold out so don’t delay. On the fence? Just take a look at our slide presentation of what’s in store for you at the Annual Conference in addition to the expert speakers, timely topics and networking. There’re direct flights and May weather couldn’t be any nicer. Take a look at what’s in store (wait until you see the opening reception).
Upcoming NJBankers Conferences - Don't Miss Out on Opportunities for Professional Development!

CECL Implementation

February 26, 2020
The Sheraton Edison Raritan Center

CECL is about to make a huge difference in banking. The new accounting standard will have an effect on what banks’ financial statements and earnings look like, as well as future lending practices. 

In this highly informative seminar, attendees will gain an understanding of the newly proposed and updated changes to the standard and what new policies, processes and controls may be necessary for you to implement at your bank. Gain a detailed understanding of the different CECL models with different data applications and understand new disclosure requirements. Learn how to use economic data as part of your analysis and forecasting, and learn best practices from public companies in CECL implementation.

Emerging Financial Leaders Group Conference

Thursday, March 19, 2020
Embassy Suites by Hilton

Discover your leadership style, understand the importance of personal branding, and learn from bank CEO's how to take your career to the next level.

Board & Management Summit a Must for C-Suite and Directors
Thursday, March 5, 2020
CPE and CLE Credits may apply
Today’s banking environment continues to innovate and evolve, with a critical need for new approaches to board education, director involvement, and strategic planning. As the banking industry continues to change, many boards are not prepared for future challenges associated with new technologies and innovations. Is your bank’s Board of Directors prepared for the future?

The Board & Management Summit is designed for bank directors and senior staff who serve the critically important role of leading your institution. Attendees of this program will:
  • Understand the importance of Strategic Planning for 2020 in an uncertain economic environment and turbulent presidential election

  • Learn new investment strategies and investment instruments to avoid in a slowing 2020 economy

  • Discover new insights from regulators on key risks, concerns, and regulatory hot topics.
Leap into 2020: Demonstrate Directors are Informed

Jointly developed by FinPro and NJBankers, the Global Webinar Package is a multifaceted program designed for Bank Directors to demonstrate that they are keeping abreast of industry developments and trends. Senior executives will also benefit from this package. 

It is a series of 24, 60-minute webinars, offered throughout the year. All webinars are recorded should a director or senior executive be unable to attend a live webinar. CPE credits  apply to live webinars as well so ask for details. 

For questions, contact Jenn Zorn, jzorn@njbankers.com or 908-272-8500 x611.

Read More 

ABA Offers CRCM Preparation Program
February 10 - 14, 2020
Reston, VA
Prepare with confidence to sit for the CRCM exam with a program developed for compliance professionals and led by esteemed industry experts.
2020 National Interagency Community Reinvestment Conference (NICRC) March 9-12 in Denver, CO
How can we work together to foster equitable community investments? The 2020 National Interagency Community Reinvestment Conference is your chance to connect with leaders and peers from across the country and find out what works. We will explore new partnerships and strategies to advance equitable growth. The conference program features CRA modernization updates and compliance training for banks of all sizes; Emerging community development trends and issues; and tours highlighting on-the-ground success stories in Denver. The 2020 National Interagency Community Reinvestment Conference is approved by several organizations as a continuing education opportunity as well. Get more details and register today.
Seeking Position Commensurate with Experience
Team builder contributing to the bottom line through effective management, skilled negotiations and successful business and transaction management. Knows how to get the job done with a high degree of integrity. Skilled problem solver who institutes long-term fixes and works well independently or within a team Environment. Focuses on providing excellence in client services and leads by example. Spearheaded numerous residential mortgage-backed securitizations during career. Developed and managed residential/commercial mortgage and commercial real estate warehousing facilities.Built a Mortgage and Asset-Backed Securitization investment banking group for a Wall Street broker-dealer. Currently provide valuations for a private equity firm on portfolios of European and US performing and non-performing residential and commercial mortgages. For a copy of the resume, email Emily DeMasi at mailto:edemasi@njbankers.com.


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