ICBA News, sponsored by Insured Cash Sweep—ICBA Nominates New Officers

Leadership
ICBA Nominates New Officers for 2013-14
ICBA announced the nominees for its 2013-14 executive committee. ICBA’s board of directors will vote on the nominations during the 2013 ICBA National Convention and Techworld in Las Vegas. During the convention, current ICBA Chairman Jeffrey L. Gerhart, president and CEO of Bank of Newman Grove, Neb., will become ICBA immediate past chairman, while Bill Loving, ICBA chairman-elect and president and CEO of Pendleton Community Bank in Franklin, W.Va., will become the new ICBA chairman.

Also nominated to become or continue as members of the ICBA executive committee are:

John H. Buhrmaster, president of 1st National Bank of Scotia, N.Y., for ICBA chairman-elect
Jack Hartings, president of The Peoples Bank Co. of Coldwater, Ohio, for ICBA vice chairman
Timothy Zimmerman, president and CEO of Standard Bank of Monroeville, Pa., for secretary
Nancy A. Ruyle, president and CEO of Citizens Bank of Rogersville, Mo., for treasurer
Sal Marranca, ICBA past chairman and president and CEO of Cattaraugus County Bank, Little Valley, N.Y.
Jim MacPhee, ICBA past chairman and CEO of Kalamazoo County State Bank, Schoolcraft, Mich.
Cynthia Blankenship, vice chairman and chief operating officer of Bank of the West of Grapevine, Texas, for consolidated holding chairman
Camden R. Fine, ICBA president and CEO.

Read ICBA Release.

Regulation
ICBA Congratulates OCC Minority Committee Members
ICBA congratulated the community bankers who have been named to serve on the Office of the Comptroller of the Currency’s Minority Depository Institutions Advisory Committee. The MDIAC will host its first meeting March 5 in Washington, D.C.

MDIAC members include:

Larry Briggs, president of First National Bank and Trust Co., Shawnee, Okla.;
Jeffrey Cheung, president and CEO of Gateway Bank, Federal Savings Bank, Oakland, Calif.;
Guillermo Diaz-Rousselot, president of Continental National Bank of Miami, Fla.;
John Hou, chairman and president of Asian Pacific National Bank, San Gabriel, Calif.;
Preston Pinkett, III, president and CEO of City National Bank of New Jersey, Newark, N.J.;
Joe Quiroga, president of Texas National Bank, Mercedes, Texas;
Norman J. Williams, chairman and CEO of Illinois-Service Federal Savings and Loan Association, Chicago, Ill.

Read ICBA Release.

Marketing
ICBA’s “I Luv My Community Bank” Campaign Returns
ICBA announced that its annual “I Luv My Community Bank” campaign has returned—just in time for Valentine’s Day. This national marketing and communications campaign celebrates the satisfaction customers have with their community bank by prompting consumers and small businesses to provide testimonials that highlight the positive impact community bankers have on their communities.

The campaign will run once again in conjunction with Community Banking Month in April. Testimonials and submissions from consumers will be accepted on the campaign website from Feb. 14 through April 12.

ICBA will launch a new app on the association’s Facebook page on Feb. 14 as a way to advance the campaign in 2013. Community bank users are encouraged to post comments, upload photos and deliver video testimonials about their community banking experiences. Read ICBA Release. Sign Up Today.

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Regulation
Report: 100 Community Banks End SEC Reporting
Approximately 100 community banks have taken advantage of an ICBA-advocated law reforming Securities and Exchange Commission registration and deregistration thresholds, The Washington Post reported. The beneficial reform was advanced in the ICBA’s Communities First Act and included in the Jumpstart Our Business Startups (JOBS) Act passed last year. The law raises the SEC’s deregistration threshold under the Securities Exchange Act of 1934 from 300 shareholders to 1,200 and increases the registration threshold from 500 shareholders to 2,000.

Community banks can now save significant SEC-associated costs annually by deregistering and can also raise greater shareholder capital without tripping SEC registration. ICBA is urging the SEC and Congress to allow thrift holding companies to deregister under the act in the same manner as bank holding companies. In a November letter to the SEC, ICBA noted that thrift holding companies were left out of the legislation due to a drafting oversight and that the banking agencies have already interpreted the statute as broad enough to include thrifts that are registered with the agencies under the Exchange Act.

Regulation
CFPB Examining Campus Financial Products
The Consumer Financial Protection Bureau launched an inquiry into the impact of financial products marketed to students through colleges and universities. The CFPB said it intends to use the information gathered to determine whether these arrangements are in the best interest of students.

The bureau noted that the Credit CARD Act of 2009 restricted financial institutions from using certain types of marketing practices on college campuses. It is asking the public, students, families, the higher education community and financial institutions to provide input on their experiences with these products.

Hurricane Sandy
Regulators Extend Foreclosure Relief for Storm Victims
Regulators announced that the Federal Housing Administration, Fannie Mae and Freddie Mac will extend expiring protections against foreclosure actions against homeowners whose properties were damaged or destroyed due to Hurricane Sandy. The additional 90-day foreclosure moratorium applies to homeowners with properties in states where the president issued major disaster declarations following the hurricane.

Economy
Employers Add 157K Jobs in January
Nonfarm payroll employment increased by 157,000 in January, the Labor Department reported. The unemployment rate rose slightly to from 7.8 percent to 7.9 percent. Retail trade, construction, health care and wholesale trade added jobs over the month. The number of unemployed persons, at 12.3 million, was little changed.

Economy
Manufacturing Activity Up in December
Economic activity in the manufacturing sector expanded in December following one month of contraction, the Institute for Supply Management reported. ISM’s manufacturing index rose 1.2 percentage points to 50.7. It was just the third expansion in the past seven months.

Economy
Consumer Sentiment Advances in January
Consumer sentiment improved in January and was up from preliminary estimates, according to the Thomson Reuters/University of Michigan index. The index rose to 73.8 from 72.9 in December and was up from the preliminary January estimate of 71.3. The index of current economic conditions eased to 85 from 87, while the gauge of consumer expectations rose to 66.6 from 63.8.

Poll
This Week’s Quick Poll
Take this week’s Quick Poll on new Federal Housing Administration rules, and view results from the previous poll on the impact of new mortgage regulations. View the Archive.

Convention
Early Bird Offer Extended Until Feb. 11
The $300 early bird discount for the 2013 ICBA National Convention and Techworld has been extended through Feb. 11. Scheduled for March 11-15 at the Wynn Las Vegas and Encore in Las Vegas, this year’s convention already has a packed lineup of speakers, workshops and networking opportunities. Register Online.

Education
ICBA Audio Call on Improving Best Assets
Your employees offer the most compelling reason why customers should choose to do business with you. Understanding their true strengths and weaknesses is the responsibility of every good manager. ICBA is hosting an audio conference at 11 a.m. (Eastern time) tomorrow on how community banks can significantly increase their “people difference” quickly. Register Online.

ICBA News
ICBA and Promontory Interfinancial Announce Bank Assetpoint
Through its cooperative marketing alliance with Promontory Interfinancial Network, ICBA announced Bank Assetpoint^SM, Promontory’s newest service. Now in beta launch, Bank Assetpoint is a new, nationwide, online marketplace that connects participants looking to buy or sell performing or distressed bank-owned assets. Banks can use the marketplace to search for and post assets for sale, either directly or through a broker, and to connect with specialty service providers. Read ICBA Release.

ICBA News
United Banker’s Bank Commits to iHELP Student Loan Program
United Bankers’ Bank is the latest ICBA member to commit loan capital to the iHELP private student loan program. Headquartered in Bloomington, Minn., UBB has community bank customers in 13 states and will be a sponsor of the iHELP referral program, which enables community banks to offer student loan services to their customers. For more information about the iHELP private student loan program, contact Program Manager Kevin Moehn at kmoehn@ihelploan.com or (571) 313-1307. Read ICBA Release.