| | |
Leadership
ICBA Nominates New Board of Directors for 2013-14
ICBA announced the nominees for its 2013-14 board of directors. ICBA’s board of directors will vote on the nominations during the 2013 ICBA National Convention and Techworld, which will be held March 11-15 in Las Vegas. Nominations for the 2013-14 ICBA board of directors and their respective positions include:
- Chairman,
Bill Loving, president and CEO of Pendleton Community Bank in Franklin, W.Va.
- Chairman-elect and federal delegate board chairman, John H. Buhrmaster, president of 1st National Bank of Scotia, N.Y.
- Vice chairman, Jack Hartings, president of The Peoples Bank Co. of Coldwater, Ohio
- ICBA president and CEO, Camden R. Fine
- Treasurer, Nancy A. Ruyle, president and CEO of Citizens Bank of Rogersville, Mo.
- Secretary, Timothy Zimmerman, president and CEO of Standard Bank of Monroeville, Pa.
-
Immediate past chairman, Jeffrey L. Gerhart, president and CEO of Bank of Newman Grove, Neb.
- Past chairman, Sal Marranca, president and CEO of Cattaraugus County Bank, Little Valley, N.Y.
- Past chairman, Jim MacPhee, CEO of Kalamazoo County State Bank, Schoolcraft, Mich.
- Past chairman, R. Michael Menzies, president and CEO of Easton Bank and Trust Co., Easton, Md.
- Past chairman and consolidated holdings chairman, Cynthia L. Blankenship, vice chairman and chief operating officer of Bank of the West of Grapevine, Texas
-
At-large director, Rebeca Romero Rainey, chairman and CEO of Centinel Bank in Taos, N.M.
- At-large director and federal delegate board representative, Preston L. Kennedy, president and CEO of Bank of Zachary, La.
- At-large director, Noah W. Wilcox, president, CEO and vice chairman of Grand Rapids State Bank, Grand Rapids, Minn.
- At-large director and federal delegate board representative, R. Scott Heitkamp, president and CEO of ValueBank Texas, Corpus Christi, Texas
- Bank
education chair, Joe Pierce, president and CEO of Farmers State Bank, LaGrange, Ind.
- Bank services chair, Scott McBride, president of The First National Bank of Buffalo, Buffalo, Wyo.
- ICBPAC chairman, Jack Hopkins, president and CEO of CorTrust Bank, N.A., Sioux Falls, S.D.
- Policy development chairman, Greg Ohlendorf, president and CEO of First Community Bank and Trust, Beecher, Ill.
- Bank operations and payments chairman, Sam Vallandingham, senior vice president and chief information officer of The First State Bank, Barboursville, W.Va.
-
Corporate secretary, Mark A. Raitor, ICBA chief operating officer.
Regional News
New York Report Shows Community Banks Lending Leaders
The New York State Department of Financial Services
released a report showing that community banks provide most of the loans for the state’s small businesses and farms and are thus essential to the state’s economy. Although community banks have less than a quarter of bank assets in New York, they generate more than half of all small-business loans and almost all small-farm loans, the report found.
The report also found that:
- New York’s community banks grew during the financial crisis by continuing to lend to small businesses and homeowners as larger banks pulled back.
- Community banks hold 22 percent of New York state bank assets, but provide nearly 55 percent of all small-business loans and 90 percent of small-farm loans.
-
Community banks grew their small-business lending market share to 55 percent from 43 percent between 2001 and 2011.
- Community banks increased their aggregate deposits to $130.4 billion in 2011 from $116.3 billion in 2001.
ICBA NewsWatch Today is sponsored by QR Lending:
New
mortgage rules have some community banks questioning their future in residential mortgage lending. We’ve got the answer. Partner with a mortgage service provider who places you and your customers first. With QR Lending, you’ll benefit from your own Dedicated Loan Coordinator and dramatic 2-3 day turnarounds—loan-origination technology included. Call 888.766.4734 or register for a webinar.
Regulation
FDIC Outlines Modifications to FDIA Section 19
The
FDIC released a Financial Institution Letter on modifications to the statement of policy for Section 19 of the Federal Deposit Insurance Act. Section 19 prohibits individuals convicted of certain criminal offenses or entered into a pretrial diversion program from participating in the affairs of FDIC-insured institutions without prior FDIC consent.
On Dec. 11, the FDIC board of directors modified the de minimis exceptions regarding the potential fine and the number of days of imprisonment. The exceptions under which the FDIC will grant an automatic approval have been modified to reflect that the offense was punishable by imprisonment for one year or less and/or a fine of $2,500 or less and that the individual did not serve more than three days of actual jail time.
The
updated statement of policy was published on Dec. 18 and is available on the agency’s website.
Regulation
OCC Issues Bulletins on Updated Regulatory Thresholds
The Office of the Comptroller of the Currency released three bulletins on dollar-amount thresholds relating to home mortgage and consumer credit regulations. The bulletins outline:
Congress
Senate Banking Panel Names Subcommittee Chairs
Senate Banking Committee Chairman Tim Johnson (D-S.D.) announced the panel’s subcommittee chairmen for the 113th Congress, including Sens.:
- Sherrod Brown (D-Ohio): Financial Institutions and Consumer Protection
- Robert Menendez (D-N.J.): Housing, Transportation and Community Development
- Jeff
Merkley (D-Ore.): Economic Policy
- Jon Tester (D-Mont.): Securities, Insurance and Investment
- Mark Warner (D-Va.): National Security and International Trade and Finance
The full committee is expected to finalize the subcommittees with a vote this week.
Regulation
OCC Newsletter Highlights State Small Business Credit Initiative
The
Office of the Comptroller of the Currency’s latest edition of its Community Development Investments electronic newsletter features the State Small Business Credit Initiative. The newsletter describes how national banks and federal savings associations can implement the program to increase credit available for small businesses. The initiative was funded with $1.5 billion to strengthen state programs that support lending to small businesses and manufacturers.
Regulation
OCC Fills Ombudsman, Consumer Law Posts
The Office of the Comptroller of the Currency named Larry Hattix as the agency’s senior deputy comptroller for enterprise governance and ombudsman. In this new role, Hattix will be a member of the OCC’s executive committee and will oversee the agency’s enterprise governance function, national bank and savings association appeals program, and customer assistance group.
The OCC also named Donna Murphy
as director for community and consumer law. Murphy will oversee the OCC’s Law Department Division, which provides legal interpretations and advice on consumer protection, fair lending, and community reinvestment and development issues.
Economy
Wholesale Inventories Down in December
Wholesale inventories declined 0.1 percent in December from the previous month but were up 5.5 percent from a year ago, the Commerce Department reported.
The November estimate was downwardly revised 0.1 percentage point to a 0.4 percent increase. Sales were virtually unchanged following a 2.2 percent gain in November.
Economy
Trade Deficit Shrinks in December
The U.S. trade deficit declined to $38.5 billion in December from $48.6 billion in November, the Commerce Department reported.
In December, the United States reported exports of $186.4 billion and imports of $224.9 billion. The goods and services deficit was down $13.2 billion from December 2011.
ICBA News
ICBA Extends PSP Relationship with Main Street Checks
ICBA extended its agreement with Main Street Checks Inc. as an ICBA Preferred Service Provider. The agreement will allow ICBA community bank members to continue receiving exclusive discounts on Main Street Checks’ check printing and check-related products. Main Street Checks has provided check printing and related services to more than 1,000 ICBA community bank members since signing on as an ICBA Preferred Service Provider in 2005. Read ICBA Release.
The Week Ahead
Senate Hearings Cover Treasury Nominee, Wall Street Reform
The Senate Finance Committee is scheduled to hold a hearing this Wednesday to consider the nomination of White House Chief of Staff Jack Lew to be the next Treasury secretary. Also this week, officials from Treasury and the federal banking regulators are slated to testify Thursday before the Senate Banking Committee on implementing Wall Street reform.
Poll
This Week’s Quick Poll
Take this week’s Quick Poll on the impact of new Federal Housing Administration rules on private mortgage insurance, and view results from the previous poll on the new FHA rules. View the Archive.
Education
ICBA Webinar on Challenges in Estimating ALLL
Can your community bank's Allowable Loan and Lease Losses hold up to the examination of outside auditors and regulators? In today’s banking environment, you need to have a careful understanding of the challenges associated with ALLL estimation. An upcoming ICBA webinar, scheduled for 11 a.m. (Eastern time) tomorrow, will examine challenges in estimating ALLL and new solutions for ALLL management. Register Online.
Education
ICBA Audio Call Covering New Mortgage Rules
ICBA and BuckleySandler LLP are hosting a free audio conference on new Consumer Financial Protection Bureau regulations affecting the mortgage market. “The New Mortgage Environment: Details on the CFPB's New Mortgage Rules,” scheduled for 2 p.m. (Eastern time) this Wednesday, will cover new rules on qualified mortgages, high-cost loans, loan-originator compensation, mortgage servicing, appraisals and escrow accounts. Register Now.
Products and Services
ICBA, FHLBank Webinar Series Continues
ICBA and the Federal Home Loan Banks continue their webinar series with a webinar next week on how the FHLBanks can help community banks better manage risk. The next webinar, slated for 3 p.m. (Eastern time) Wednesday, Feb. 20, will cover how to manage risks related to interest rates, liquidity, investments and more. Learn More and Register.
Products and Services
Webinar: Legislation and the Farm Bill in the 113th Congress
ICBA Preferred Service Provider Farmer Mac is hosting a webinar on the latest updates and discussions on various legislative issues that affect the agricultural community. The webinar also will explore how some of these issues, including the farm bill, may impact producers and agricultural lending efforts. The webinar is scheduled for noon (Eastern time) this Wednesday. Register Online.
Products and Services
New Checklist Helps Community Banks Prepare for Next IT Exam
Last year featured the energized return of the IT regulatory examiner committed to the ongoing importance of the IT risk assessment. Compushare, an ICBA Preferred Service Provider, offers a new checklist to help community banks prepare for their next IT exam with confidence. Read the Article.
|
| | | | |
|
