If this page doesn't display properly in your email, click here. January 6, 2021
New Jersey Bankers Association
2021 Annual Conference and trade show
Happy New Year to all!

2020 is behind us and we go forward into 2021 with the roll-out of a vaccine to prevent the continued spread of COVID-19. Though developed, the distribution of the vaccine may mean that it will not be available to the general public until late summer or fall as noted by the CDC. 

Following up on an article in our Connections issue of December 16th, a decision was made to postpone the NJBankers Annual Conference and Trade Show which was scheduled for May 2021.  It was with the full membership’s health as well as the financial soundness of your Association that this decision was made.

The rescheduled Conference will be held in May 2023 at The Breakers, Palm Beach FL. 

The Association is looking toward the spring of 2021 to bring, in addition to our virtual seminars, additional outdoor networking opportunities when we can safely do so. Your Association team will also begin a dialogue with Ocean Resort Casino in Atlantic City to make our Senior Management Conference even more robust and add elements from the Annual Conference.

If you have any questions, please contact John McWeeney at jmcweeney@njbankers.com or Jenn Zorn at jzorn@njbankers.com.

 
NJBankers and BCG Donate to Local Food Bank


NJBankers and BCG staff stepped up during the Holidays to address the serious food insecurity issues created by the pandemic. 

Julie Carroll, Executive Director, The Cranford Family Care Association Inc., stated, "people that traditionally donated to our food pantry in the past are now in need for themselves due to furloughs and job losses'.  Added, Rich Siderko, BCG, "With the Holidays being such a food centric holiday, pantries are flush with donations, but focus shifts from food to presents in December resulting in a food shortage for community centers like Cranford Family Care". 

With our supermarket sweep efforts we were able to spread holiday cheer to twenty-five local Cranford families with food boxes containing everything from breakfast to dinner and dessert.  We were extremely glad to lend some helping hands.

 
NJBankers EFLG Holds Gingerbread House Contest during the Holidays


The EFLG held a “Bank of the Future” gingerbread challenge, where EFLG members were asked to design a gingerbread house based on what they thought banks in the future would look like.  We are thrilled to announce Chris Rozewski, Frist Vice President  and Director of Data Analytics, Kearny Bank as the winner.

Chris described his bank as “The Bank of the Future employs an omnichannel experience blending relationships, convenience, and simplicity. Customers feel engaged and bank on their terms.”

 
 






Upcoming Webinar

January 15th
10th Annual Economic Leadership Forum 

See njbankers.com for details.

Other Industry Meetings
View Other Meetings
Matthew Cooney Assumes Position of President/CEO of Bankers Cooperative Group, Inc.

With the recent retirement of Richard Siderko, Matthew Cooney assumes the position of President/CEO of Bankers Cooperative Group, Inc. Cooney comes to BCG with over thirteen years of group employee benefits experience.  He has a broad background with expertise in sales and business development, account management, customer service and operations.  He has held various positions at Kistler Tiffany Benefits, AmeriHealth Administrators, Independence Blue Cross, Allstate Benefits and Flexible Benefits Plans, Inc.  Matt was also former President of the Greater Philadelphia National Association of Underwriters. 

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Don't Miss Out - Last Chance to Register! NJBankers Economic Leadership Forum


Although economic indicators are continuing to improve, the sustainability of economic growth remains unclear.  The banking industry might be more deeply impacted by COVID-19 in 2021 and beyond.
 
At NJBankers 10th Annual Economic Forum, some of the best minds in economics and banking will discuss contemporary issues facing the New Jersey economy as well as the global economy. Some of those speakers include: D. Steve Boland, President, Retail, Bank of America; Brian Brooks, Acting Comptroller of the Currency, Office of the Comptroller of the Currency; Dambisa Moyo, Global Economist and Time Magazine's, 100 Most Influential People in the World and Juan Williams, Political Analyst, Fox News.
Discover how consumer behavior has changed as a result of the pandemic, explore the political landscape and its impact on the economy, gain insight into the future of Fintech, and understand the importance of company culture amid COVID-19.  

Don't miss out on this year's Breakout Sessions!

1. Diversity, Equity & Inclusion
 Sponsored by: TD Bank
 Moderated by: Michael Affuso, EVP, Director of Government Relations, NJBankers
 Alethea M. Batts, SVP Learning and Organization Development, Chief Diversity Officer, Lakeland Bank
 Damien M. Ghee, SVP and Regional Vice President, Greater Philadelphia Area, TD Bank
 Lucy Sorrentini, CEO, Impact Consulting, LLC and Board Member, Columbia Bank

2. Culture Amid COVID: How the Crisis Revealed the Importance of Company Culture
Sponsored by: Federal Home Loan Bank of New York
 Moderated by: Adam Goldstein, Chief Business Officer, Federal Home Loan Bank of New York
 Kevin Cummings, Chairman & CEO, Investors Bank
 Heather Hendry, Vice President, ERM and Information Security Officer, Peapack-Gladstone Bank
 Wendy L. Cama, Partner, Crowe LLP

3. The Regulatory Perspective
 Sponsored by: The Invictus Group
Moderated by: Adam Mustafa, CEO & Co-founder, The Invictus Group 
Leandro De Almeida, Team Lead, NY Field Office, Office of the Comptroller of the Currency
Bill Spaniel, SVP, Supervision, Regulation & Credit Department, Federal Reserve Bank of Philadelphia 

4. Fintech and Bank Alliances: The Future is Here
Sponsored by: Wolf & Company, P.C.
Richard C. Fay, CPA, Principal, Wolf & Company, P.C.

5. Countdown to “LIBOR Leaving the Building”: It’s Now or Never for Banks to Prepare
Sponsored by: Chatham Financial 
Todd Cuppia, CFA, Managing Director, Head of Balance Sheet, Risk Management, Chatham Financial
Bob Newman, CFA, Managing Director, Mid-Atlantic Sales, Chatham Financial  

Attendees of the Economic Forum will have a special opportunity to chat with renowned speakers, connect with your peers, and engage with sponsors on our virtual platform.  Register today!

 

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Industry News

Harmon earns spot on advisory council for Philly Fed
John Harmon, the founder and CEO of the African American Chamber of Commerce of New Jersey, has been appointed to the Economic and Community Advisory Council of the Federal Reserve Bank of Philadelphia. 

IB features 2021 community bank CEO outlook
The January issue of Independent Banker features results of the magazine's annual Community Bank CEO Outlook survey. The results of this year’s survey show a different set of challenges—and opportunities—for industry leaders.

EIDL advance fix in effect as SBA writes new PPP rules
While the SBA writes new rules on the next round of the Paycheck Protection Program, the ICBA-advocated fix to Economic Injury Disaster Loan advances is effective immediately and retroactive.

Free Article Highlights Top Risk Trends for 2021
The COVID-19 pandemic has upended the game board for risk managers in 2021, with credit, operational and compliance risks reshaped by the policy response to coronavirus, according to the latest preview article from the next issue of the ABA Banking Journal.

OCC Proposes Tweaks to Requirements for Permissible Bank Premises
The OCC proposed changes to its current rules on national bank or federal savings association ownership of real property. The proposal will provide a set of general standards—including an occupancy test and excess capacity standards—that the OCC will use for determining whether the acquisition and holding of real estate is necessary for the transaction of an institution’s business. Read the Proposal here.

Federal Reserve Bank of New York Business Leaders Survey
Activity in the region’s service sector declined at its fastest pace since June, according to firms responding to the Federal Reserve Bank of New York’s December 2020 Business Leaders Survey. The survey’s headline business activity index fell eleven points to -26.9. The business climate index was little changed at -60.3, indicating that the vast majority of firms continued to view the business climate as worse than normal.

IRS: ‘Get My Payment’ Portal Now Live
The Internal Revenue Service announced that the Get My Payments portal—available in English and Spanish—is now live for individuals to log on and view the status of their economic impact payment. The IRS began issuing $600-per-person EIPs last week via ACH and also began issuing paper checks, which will continue to be sent through the month of January. The IRS this month will also begin issuing payments via prepaid debit cards for certain EIP recipients.

 
Member News

Bank of America Spotlights Pandemic Aid to NJ Communities, Citizens and Employees
Bank of America has come to the aid of numerous community organizations this past year – a year like no other. In response to the COVID-19 health crisis and the impact it’s having on New Jersey communities, Alberto Garofalo, New Jersey market president for the financial institution, spotlights a few of these investments.

New Jersey Banks and Foundations Pledge $265,000 to Local Hospitals for COVID-19 vaccine initiatives
With initial supplies of the COVID-19 vaccine beginning to arrive in New Jersey, OceanFirst Bank and OceanFirst Foundation and several locally headquartered banks and foundations have partnered to pledge $265,000 to hospitals to support their vaccination efforts.

 
SBA PPP Round 2 - Consolidated Appropriations ACT, 2021
Provided by Michael D. Ryan, President & CEO, Innovative Financing Solutions (IFS)


The Consolidated Appropriations Act, 2021 was passed by Congress this week and the proposed legislation includes significant updates to the existing Paycheck Protection Program (PPP) and guidelines relative to Round 2 of the Program. The Bill makes $284 billion of additional funds available for PPP loans and $20 billion for Economic Injury Disaster Loans (EIDL’s) both of which are overseen by the SBA. The Bill also includes substantive changes to SBA’s flagship SBA programs.

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FinPro's 2021 Global Webinar Package



FinPro’s Global Webinar Package is a series of 24 multi-faceted webinars offered throughout the year designed for Senior Executives and Directors.   It is structured with one flat fee for unlimited director and employee participation. All live webinars qualify for CPE credits and are also recorded for convenience.

Take advantage of this program for yourself, your board and your bank and show that you keep abreast of industry developments and trends.

Questions? Please contact Jenn Zorn at jzorn@njbankers.com or Scott Polakoff at spolakoff@finpro.us

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Endorsed Service Provider News

Are you heading into 2021 with critical issues to handle? Here’s how you and QwickRate can solve them now.
QwickRate has developed their products specifically for community banks, with impressive affordability that’s great for your budget, and amazing ease of use that helps your teams accomplish much more with less work. From now through January 31, 2021, QwickRate is pleased to offer all NJBankers member banks a discounted bundle price on two powerful solutions — IntelliCredit and QwickAnalytics — to help you get started.

PMC Winter/Spring 2021 Webinars
Back by Popular Demand - IRA & HSA Training
Join PMC for their series of Training Webinars. They are pleased to offer a variety of webinars that provide the latest updates in IRAs, HSAs, SECURE Act, CARES Act., and more!

NJBankers Endorsed Service Provider Innovative Financing Solutions Selects NJBankers Associate Member Vikar Technologies to Deliver PPP Loan Origination and Forgiveness Software to Network of Nationwide Lenders for Next Round of PPP Loans
Vikar Technologies (Vikar), digital commercial lending and client onboarding solution provider announced today that Innovative Financing Solutions (IFS), a lender consulting and business advisory firm and SBA & USDA Loan Program Expert has selected Vikar’s PPP Loan Origination and Forgiveness software to assist borrowers and lenders in meeting the requirements for both PPP loan origination and forgiveness as a result of the new relief bill passed by Congress.

Abrigo Presents ThinkBIG 2021 - BSA/AML - Lending - ALM - CECL
May 25, 2021 to May 27, 2021
In Person or Virtual

For more than two decades, Abrigo’s conferences have been educating lenders, risk professionals, and BSA/AML professionals, and we are excited to bring the ThinkBIG: Manage Risk. Drive Growth. and ThinkBIG: Fighting Financial Crime conferences together for one BIG event. Your financial institution’s need to grow and manage risk doesn’t go away just because COVID-19 isn’t contained yet. In fact, now more than ever, bankers need to think bigger to be able to help your communities survive and win.

 

 
Associate Member News

The Baker Group Presents Bank Investment Strategies for 1st Quarter 2021 Webinar
Wednesday, January 13, 2021
11:30 a.m.-12:30 p.m. EST
Complimentary Webinar
1.5 Hours of CPE Credits
Financial institutions’ CEOs, CFOs, investment officers, board members, and those who are directly or indirectly responsible for financial management functions will benefit from this webinar. Topics include: Economic Immunization and the Fed’s Game Plan for 2021; Regulatory and Banking Outlook: Where Regulators Are Focusing Their Efforts in the New Year; Update on the Latest Round of PPP and the Outlook for Liquidity in Q1; Is It Time to Change Our Strategy Given the Recent Yield Curve Steepening?; Where to Deploy Excess Liquidity for the Best Relative Value in Today’s Market; and Has the Current Refi Wave Run Its Course or Will Prepayment Risk Remain Elevated in 2021?

Upcoming Freddie Mac Webinars
Freddie Mac is offering three webinars throughout Q1 to assist with any questions you may have regarding their enhanced Loan Product Advisor (LPA), redesigned Uniform Residential Loan Application (URLA), and to answer any question you may have regarding the Uniform Loan Application Dataset (ULAD).

Moving Forward: Loan Product Advisor and the Redesigned URLA
Monday, January 25, 2021, 2 – 3:30 p.m. EST

Introduction to The Redesigned URLA and New ULAD
Monday, February 8, 2021, 2 – 3:30 p.m. EST

Redesigned: The Loan Product Advisor Feedback Certificate
Monday, March 8, 2021, 2 – 3:30 p.m. EST

In each session, you’ll also have an opportunity for Q&A with subject matter experts who can answer your questions about Freddie Mac policy.

Newcleus Completes its Combination and Rebranding Strategies
Newcleus, LLC (“Newcleus”) has completed its brand consolidation that began with the combination of Bank Financial Services Group, Meyer Chatfield and Compensation Advisors approximately two years ago. With all of our advisors and staff now together under the Newcleus brand, the process has reached its final step, culminating in a market-leading design and administration provider of compensation, benefit, investment and financing strategies. The brand consolidation went into effective January 1, 2021.

NJBankers Endorsed Service Provider Innovative Financing Solutions Selects NJBankers Associate Member Vikar Technologies to Deliver PPP Loan Origination and Forgiveness Software to Network of Nationwide Lenders for Next Round of PPP Loans
Vikar Technologies (Vikar), digital commercial lending and client onboarding solution provider announced today that Innovative Financing Solutions (IFS), a lender consulting and business advisory firm and SBA & USDA Loan Program Expert has selected Vikar’s PPP Loan Origination and Forgiveness software to assist borrowers and lenders in meeting the requirements for both PPP loan origination and forgiveness as a result of the new relief bill passed by Congress.

 
Discounts for Employees of Members & Associate Members

As a member of NJBankers, there are benefits that are available to your bank or company but did you know there are direct benefits – discounts –  just for you as an employee?

NJBankers has partnered with Rider University for a tuition reduction, Plymouth Rock for auto insurance discounts, the ASPCA for pet insurance, and even Office Depot for supplies & printing discounts.  You’ll be surprised at the money you and your family will save!

Take a look at the details and discounts for the NJBankers partnership programs and learn more about how you and your family will benefit. NJBankers is pleased to make the Connections that can contribute to your bottom line!

Bank Members Click Here - Associate Members Click Here

 



CLICK HERE FOR MEMBER COUPONS GOOD THROUGH JANUARY 11th!

 
Help us Tell your Bank's Story!

Since the start of this health crisis, New Jersey banks have prioritized the safety of employees and customers. Throughout the pandemic, banks have offered an array of programs to help individual and business customers affected, including fee waivers, deferred payments and other accommodations depending on the customer's circumstances.

Banks continue to do everything they can to make things a little easier right now from helping customers get financial relief and approving a record number of business PPP loans to looking out for the well-being of their communities.

CHECK OUT THE AMAZING JOB BANKS ARE DOING, READ THEIR STORIES HERE!

It's no secret the tremendous work bankers have been doing around the clock to serve their customers and communities and keep operations flowing successfully through the uncertainty. Our industry should be very proud of our accomplishments and NJBankers would like to help you tell your banks story. We encourage you to share your story with us to get the word out on the exceptional job banks are doing during this trying time.

Please send your banks story to: Erin Attilio at esuckiel@njbankers.com.

 

        

 
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