The Official Magazine of the Pennsylvania Bankers Association

Transcription

paBanker
This Issue:
2014 Residential Schools
2014 PBA Annual Convention
Women in Banking Wrap
TECHNOLOGY TRENDS: WHAT’S COMING IN THE NEXT 5-7 YEARS?
BALANCE SHEET MANAGEMENT IN A WORLD OF UNCERTAINTY
IS YOUR BANK’S REPUTATION DEFINED ON GOOGLE?
Volume 16.2
March-April 2014
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CIB PDF 1213-015-172002
paBanker
BRINGING TIMELY NEWS AND INFORMATION TO THE MEMBERSHIP OF THE PENNSYLVANIA BANKERS ASSOCIATION
FEATURED ARTICLES
Veterans Designation FAQ .....................................................Page 27
Pennsylvania Real Estate Tax Liens Expanded to Apply to All Real
Property of Delinquent Taxpayers....................................Pages 28-29
TECHNOLOGY TRENDS: What’s Coming in the
Next 5-7 Years..................................................................Pages 34-35
Balance Sheet Management in a World of Uncertainty ...Pages 36-38
2014 PA Banking Sector Outlook –
an Advisor’s Viewpoint ....................................................Pages 41-42
Is Your Bank’s Reputation Defined on Google .................Pages 44-45
Time for Some Regulatory Transparency .........................Pages 47-48
SPECIAL FEATURES
2014 PBA Residential Schools ................................................Page 14
2014 PBA Convention ....................................................Pages 15-22
2014 Bankers Day at the Capitol............................................Page 26
Women in Banking Wrap ................................................Pages 32-33
Economic Forcast Summit Wrap ............................................Page 40
IN EVERY ISSUE
Chair’s Ramblings .................................................................... Page 6
From the CEO ........................................................................ Page 7
Editor’s Notes ...........................................................................Page 9
Community News .......................................................... Pages 11-13
Welcome New Members.........................................................Page 12
Government Relations .....................................................Pages 24-30
PBA Services Corporation .............................................. Pages 53-58
Index to Advertisers ................................................................Page 58
PBA Calendar ........................................................................ Page 59
Vol. 16.2 • March-April 2014
3
PBA STAFF DIRECTORY
General Phone/Switchboard
(717) 255-6900
EXECUTIVE
J. Duncan Campbell III, [email protected]
president & CEO
255-6916
ACCOUNTING
Annette M. Moshgat, [email protected]
office accountant
255-6938
GENERAL COUNSEL & FEDERAL GOVERNMENT RELATIONS
Louise A. Rynd, Esq., [email protected]
general counsel
Lisa R. Brandt, [email protected]
legal assistant
255-6935
255-6936
INFORMATION TECHNOLOGY
Connie A. Ferraro, [email protected]
assistant vice president information technology director
255-6921
MEMBER RELATIONS & ADMINISTRATION
Cynthia L. Wallett, [email protected]
vice president member relations and administration
Linda A. Scott, [email protected]
administrative assistant member relations
255-6913
255-6903
PBA SERVICES CORPORATION
Wayne Whipple, [email protected]
vice president, business development &
managing director PBA Services Corporation
255-6925
PROFESSIONAL DEVELOPMENT & COMMUNICATIONS
Barbara W. Holbert, [email protected]
vice president professional development and communications
Jill Helsel Gingrich, [email protected]
assistant vice president communications director
Julie A. Carr, [email protected]
assistant vice president professional development
Jacqueline A. Catalano, [email protected]
assistant vice president professional development
AIB director
Donna L. Price, [email protected]
administrative assistant professional development
255-6923
255-6915
255-6914
255-6939
255-6926
RECEPTION
Jill A. Ametrano, [email protected]
receptionist
255-6960
STATE GOVERNMENT RELATIONS
Daniel J. Reisteter, [email protected]
vice president government relations
Erin L. Kanter, [email protected]
assistant vice president government relations director
Lisa E. Diehl, [email protected]
administrative assistant government relations
4
255-6933
255-6910
255-6937
paBanker
paBanker Magazine Staff
Editor-in-Chief ....................................Barbara W. Holbert
Managing Editor ...................................Jill Helsel Gingrich
Editorial Advisors ................................... Daniel J. Reisteter
Louise A. Rynd
Cynthia L. Wallett
J. Duncan Campbell III
Wayne Whipple
Jacqueline A. Catalano
PBA Services Corporation Board of Directors and Officers
President ........................................... Philip E. Fague, CPA
Secretary.................................................Glenn B. Marshall
Treasurer ....................................... J. Duncan Campbell III
H. Wayne Griest, Mark A. Zody, Daniel J. Santaniello,
David P. Ruddock, David S. Runk, Donald S. Shamey,
Brian H. Lehman, Angie Sargent, Laurel Leitzel,
Marcie Barber, Joseph W. Major
Address Correspondence to:
paBanker Magazine
c/o Pennsylvania Bankers Association
3897 North Front Street, Harrisburg, PA 17110
Tel. (717) 255-6915 Fax: (717) 233-1477
E-mail: [email protected]
paBanker Magazine is published six times a year by the
PBA Service Corporation (PBASC), a subsidiary of
the Pennsylvania Bankers Association (PBA). The PBA
serves Pennsylvania banks and financial institutions with
educational programs, member services and represents
members on the state and federal level. Since 1895, the PBA
has continuously worked to be the premier financial services
organization supporting a diversified membership through
volunteer participation, a knowledgeable staff, state of the
art technology and a commitment to excellence.
paBanker Magazine is the official publication of the
Pennsylvania Bankers Association. Subscriptions are free
to all member institutions and PBA volunteers. Additional
copies are available to members at a rate of $38 per year.
Non-member subscriptions are available for $55 per year.
Editorial
The opinions expressed in articles by authors other than
Association staff and officers are the responsibility of the
authors only and not necessarily those of the PBA, PBASC
or its members. All articles, unless otherwise noted, have
been written by paBanker Magazine staff. Questions and
comments should be addressed to the Managing Editor.
Pennsylvania Bankers Association members may reproduce
any non-commercial part of this publication with verbal
permission from the editor. All others must receive written
permission from the editor prior to reproduction of any
part of this publication. Copyright ©2003 PBA Services
Corporation. All Rights Reserved.
Advertising
Contact Account Executive at (717) 232-0144 or
[email protected] for rate information.
Postmaster, send all address changes to:
paBanker Magazine
3897 North Front Street
Harrisburg, PA 17110
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5
CHAIR’S
RAMBLINGS
Women in Banking: From Conversation to Action
When I entered the conference hall at the Hershey
Lodge and Convention Center on March 6, I was
Pennsylvania Banking Proud! More than 245 women
(and a few men) packed the room from institutions all
across the Commonwealth for one day of professional
development and networking. It was the culmination
of two and a half years’ of ideas, needs assessment,
grass roots interest, and PBA outreach—coming to life
in Hershey. With strong corporate banking sponsors
and professional service firm support, this event
inspired women from small community banks, global
powerhouses, and mid-size institutions.
In 2014, there has never been more conversation
in print or online about women in leadership, women
as executives, leaning in, or on-ramping. As a woman
who’s been in banking for 25 years, I can honestly say
the conversation hasn’t markedly moved the percentages
of women in leadership positions. But March 6 was a
day that we advanced the conversation from ideas to
action.
Strategically, our PBA Women in Banking initiative
has specific goals—uncover ways to provide women in
banking with a deeper sense of inclusion within their
institution and the industry; help women navigate
paths to success; and expand the involvement of women
in banking and in the Association. I am proud to say
that our inaugural PBA Women in Banking conference
delivered on every goal and had every attendee asking,
“When can we meet again?”
The educational sessions were led by 8 national
and regional speakers who challenged and sparked new
opportunities for the roomful of high-potential women.
Capitalizing on social media, we created an event
hashtag so women in banking and women interested in
#STEM careers around the world could benefit from
our discoveries and new networks.
6
A quick Twitter search for #PBAWIB will reveal
some of the day’s highlights: “We need women to put
our names in play.” “Put yourself in a position to be
found.” “Get out of your comfort zone.” “11.4% of
women are CFOs.” “Become peer mentors.” “Start to
describe yourself as visionary. Speak in strategic terms.”
More than 51 contributors shared 468 tweets from
the day. The conversation ignited young women to
consider banking as a high-growth career and to take
advantage of new opportunities within the PBA for
women to learn more, it encouraged mid-careerists to
achieve more, and strive to reach executive positions.
A 20 year experienced commercial lender
summarized her takeaways from the conference.
“Building up and better supporting other women,
the importance of having mentors, and the marketing
statistics for different generations was eye-opening!”
Valerie Pritchett, news anchor for WHTM TV 27,
and “Breaking through the Glass Ceiling” moderator,
said helping other women and networking are keys
to success. Learning how to engage on social media
and understanding new tools for personal and bank
branding is also critical for advancement.
The power of the ideas in the room, the strength
of the network, and learning how to reach our high
potential are all benefits that will inspire younger
generations to say, “I want to be CEO of a bank!”
Patricia A. Husic
President & CEO
Centric Bank
Harrisburg, Pa.
FROM THE CEO
TO THE CEO
I was talking to one of our bankers last month, lamenting
the harsh winter, when he confided in me that with every
snowstorm, every sub-freezing temperature day, his mind
has wandered south to the warm, sandy environs of Naples,
Florida and the 2014 PBA Annual Convention. There is no
place that he would rather be, he continued, and that was
before I mentioned that the entire Ritz-Carlton property was
renovated this past summer. He just smiled and closed his
eyes. While physically next to me, I know where he was.
Beyond the sun, the sand and the Greg Norman-designed
Tiburón Golf course, this year’s convention offers three days
of exceptional educational and networking opportunities for
bankers, directors, industry partners and guests, alike.
For those of you who have never attended a PBA
Annual Convention (and for those of you who have), let me
outline the schedule for you. A full conference brochure
may be accessed via: http://www.pabanker.com/eventsInfo/
conventionFiles/2014/Brochure.pdf, and for the first time,
we will be offering an exciting new App tool which will
allow convention attendees to access materials and other
important information via their smart phone or tablet. I
would encourage you to dive deeper into the agenda to learn
more about the conference program and the impressive slate of
speakers scheduled.
But, in the meantime, here’s what you can expect:
Wednesday, May 14, will kick off with registration and an
afternoon welcome reception. Later in the afternoon, there
will be a Directors training session focused on Asset Liability
Committee (ALCO) management. The first day concludes
with the Chair’s Reception -- a Barefoot Beach Bash which
will literally knock your socks off!
Thursday, May 15 starts with a PBA Services Corporation
dawn-duster program and break-out sessions specific to
balance sheet strategies; the bank’s reputation and online
presence; and third party vendor management. The PBA’s
Annual Business Meeting will take place, as members in
convention will receive the PBA Nominating Committee
report, elect and install the 2014-15 Officers and Board
representatives; and hear from PBA Chair Patti Husic. The
day concludes with a Washington perspective provided by
ABA Executive Vice President James Ballentine, and general
session remarks focused on two issues that are critically
important to the banking industry -- the next generation of
leaders and cybersecurity, respectively.
Friday, May 16 begins with an investment banking panel
and concurrent sessions on deal management, regulatory
risk management, the “new norm” of high performance
expectations and technology trends. Additionally, two sessions
are scheduled for our conference guests on travel safety and
investment literacy. Friday’s general session will focus on
global economics and development. The day wraps up with
an afternoon golf tournament at the Ritz-Carlton Golf Resort
Naples (Tiburón) and the closing Theme Party.
If you have never attended a PBA Convention, I would
encourage you to consider joining us in Naples. It will be a
great time to connect with fellow bankers, and celebrate the
industry we so proudly call our own.
Before you travel to Naples, we do need your assistance
this month. The PBA is a member of a group called the
Coalition of Bankers Associations. As a member of this group,
we support an on-line exam survey effort called the Regulatory
Feedback Initiative (RFI). RFI was developed to provide
honest and anonymous exam feedback to the regulators. To
date, approximately 2,000 of the nation’s approximately 7,000
banking institutions have completed a survey. During April,
we are making a concerted effort to broaden the amount of
data collected by asking each of our members to complete a
survey for your most recent safety and soundness and your
most recent compliance exams. From this data, we are able
to see a national picture of how banks are viewing their exam
experiences, and we can share this information back to the
regulators for their awareness and attention.
I have provided detailed information to each of our
members in print and electronically. You will see a related
article from Past PBA Chair Robert Rupel on page 47 of this
issue of the paBanker, as well as an RFI advertisement on page
46. Please let me know if you have any questions or concerns,
and thank you for your assistance with this important request.
I am looking forward to seeing you in Naples!
President & CEO
7
Pictured left to right:
Kenneth J. Rollins, Esquire
[email protected]
717-237-6782
Charles J. Ferry, Esquire
[email protected]
717-231-6631
Dean H. Dusinberre, Esquire
[email protected]
717-231-6618
Representing Financial Institutions For Over 75 Years
•
•
•
•
•
•
•
8
Mergers & Acquisitions
Capital Planning
SEC Compliance
Federal/State Regulatory Compliance
Corporate Governance
Mutual Thrift Conversions
Loan Documentation
• Executive Compensation
& Employee Benefits
• Fiduciary Services
• Human Resources
• Litigation
• Bankruptcy/Workout
One South Market Square • Harrisburg, PA 17101
29 Dowlin Forge Road • Exton, PA 19341
www.rhoads-sinon.com
EDITOR’Snotes
Barbara W. Holbert
VP-Professional Development &
Communications
Editor-paBanker
PA Bankers Association
TO OUR CONVENTION DELEGATION…
Convention season is upon us and excitement is
building with the PBA Team as we look forward to
bringing members, sponsors and guests together in
Naples for Convention 2014.
The PBA Convention experience encompasses
education, networking, entertainment and recreation at
a fabulous destination. At the beautiful Ritz-Carlton,
Naples, bankers from across Pa. will stand together to
discuss important banking topics such as; cybersecurity,
the global economy, balance sheet strategies, politics
and policies, developing the next generation of leaders
and technology trends. There will also be sessions that
will inspire, bring new perspectives to workplace norms
and highlight the amazing human spirit. For a preview
of the presenters, I encourage you to Google speaker
information and watch their YouTube videos.
New to Convention 2014 is the debut of PBA’s
Convention App. The app will allow convention
delegates to download important information regarding
program content, travel logistics and hotel maps and
layouts, while receiving up-to-the-minute notices about
convention events and activities. We hope that this new
App will make the Convention experience even more
seamless for those attending.
Convention presents a tremendous opportunity
for the PBA Team to serve volunteers in a unique and
personal atmosphere. It is a time when we benefit
through learning more about the concerns, challenges
and successes of our members and how the Association
may better meet the needs of every constituency. The
PBA Team appreciates this time to understand more
about members as leaders and as individuals. Please share
visions for the industry and the PBA with us at every
opportunity.
The PBA Team is confident that your 2014
Convention experience will be valuable, meaningful and
enjoyable. See you in Naples!
Google or YouTube these General Session speakers:
• Daniel Altman
• James Ballentine
• Marc Keilburger
• Kevin Streff
• Bruce Tulgan
For a full listing of the Convention Program, see
pages 16 through 21. PBA
9
Set an Upward course for your
Bank’s Bottom Line!
Chart your own course by owning a Bank Owned Life Insurance plan.
BOLI is an effective financing tool that offers favorable yields through
cash accumulation and insurance proceeds. A properly structured BOLI
program can be financially efficient, follow sound banking practices, and
be a performing addition to you balance sheet.
DAVID SHOEMAKER,
CPA/PFS, CFP ®
[email protected]
Tel: 901.754.4924
8000 Centerview Parkway | Suite 525
Memphis, TN 38018
Equias Alliance provides:
• Administration of BOLI and Executive & Director Nonqualified Benefit Plans
• Risk Assessment Review of BOLI and Executive & Director Benefit Plans
• Bank-Owned Life Insurance (BOLI)
• Executive & Director Benefits Consulting
www.equiasalliance.com
David Shoemaker, CPA/PFS, CFP® is a registered representative of and securities are offered through ProEquities, Inc., a Registered Broker/Dealer, and member
©2014 Equias Alliance
FINRA and SIPC. Equias Alliance LLC is independent of ProEquities, Inc. The American Bankers Association (through its subsidiary, the Corporation for American
Banking) has endorsed services provided by Equias Alliance.
AIB Principles of Banking
Principles of Banking
Tenth Edition
For 85 years Principles of Banking has supported the profession of banking and the professional
success of bankers. From its initial publication in 1925 as Banking Fundamentals to the current
10th edition as Principles of Banking, no other banking product or course has touched so many.
AIB Principles of Banking is offered in an instructor-led online format that integrates high
quality instruction with the convenience of a virtual classroom or can be taught in your bank.
It is the perfect course for every employee and is the most effective way to introduce new
personnel to the banking industry.
AIB Principles of Banking is only available in Pennsylvania through PBA.
Find out how you can provide your employees with the foundational course for industry recognized
AIB diplomas and prepare them for a successful career in banking by visiting www.pabanker.com and
clicking on Professional Development.
For more information visit www.pabanker.com, call (717) 255-6939 or
contact Jackie Catalano, [email protected].
10
COMMUNITYnews
FNCB Launches Student
Checking Account
Muncy Bank and Trust Company
New account available for students age 14-25
First National Community Bank (FNCB), locally-based
for over 100 years, has launched a new checking account
for students, simply called FNCB Student Checking. The
account has no minimum balance requirement, a free debit
card, ATM fee refunds up to $15 per month, no monthly
service fee and a full suite of free mobile banking options.
“Our customers told us they wanted an account that
their kids could use locally and take with them when they
went away to college,” said Joseph Earyes, Chief Retail
Banking and Operations Officer. “Student Checking is
the perfect option giving them money saving solutions
like ATM fee refunds while providing 24/7 access to funds
through our mobile and online banking options.”
FNCB’s new checking account is available for students
age 14-25, or those still enrolled in school, and features:
• No minimum balance
• Nationwide ATM fee refunds up to $15 per month
• Free debit card
• Free mobile app
• Free online banking
• Free account alerts
• Free Bill Pay
• Mobile Check Deposit PBA
The First Community Foundation Partnership of
Pennsylvania received $111,111 in donations from The
Muncy Bank and Trust Company through the Pennsylvania
Educational Improvement Tax Credit (EITC) Program to
benefit local school districts. Here, Betty Gilmour from
the First Community Foundation accepts the $111,000
check from Muncy Bank executives Kathleen Bower, Daniel
Berninger, and Dave Mayer. The EITC Program allows
businesses to donate to organizations approved by the
Department of Community and Economic Development,
such as the foundation.
In return the business receives a tax credit for its
donation. The business designates its donation to local
schools for Educator in Residence Grants and Venture
Grants for Teachers. Muncy Bank’s donation will benefit
five area school districts: East Lycoming, Montgomery,
Montoursville, Muncy, and Warrior Run. PBA
The Farmers National Bank of Emlenton Donates to United Way of Venango County
The Farmers National Bank of
Emlenton recently donated $8,270
to United Way of Venango County in
support of their annual fundraising
campaign for 2014.
Accepting the donation on behalf of United Way of
Venango County was Jane Klinger, Executive Director.
Representing the Farmers National Bank of Emlenton were
Scott Patton, Regional Manager and Michelle Hartle, Branch
Manager of the Cranberry office.
Annually, the employees of the Farmers National Bank
of Emlenton have the opportunity to donate towards the
campaign. The Bank has pledged to match all donations made
by the employees to the United Way in an effort to generate
support throughout all of the counties in which it serves. PBA
(Above, Left-Right): Michelle Hartle, Scott Patton, and Jane Klinger.
11
COMMUNITYnews
Pennstar Bank Helps Customers Save
The national financial
education movement “America
Saves Week” was celebrated
February 24 – March 1, 2014.
As a registered local participant, Pennstar Bank educated
individuals on the importance of saving and offered tools to
help community members reach their savings goals year-round.
“We took a very active approach to helping not only our
customers, but also the members our community – young
and old – to become more proactive in financial planning and
saving,” said Pennstar Bank President and Chief Executive
Officer David Raven.
Pennstar Bank supports the goals of America Saves Week
all year long by providing customers with specific savings tips,
and hosting its Strive® educational programs at local schools
across its footprint. The Strive® programs focus on topics
ranging from helping young audiences identify the difference
between need and want-based purchases to helping teens gain
an early understanding of credit and loan management and
savings techniques.
Strive® provides in-classroom and online financial
education to help today’s youth grow their money skills.
Starting early with fun and informative financial literacy helps
students of all ages develop good financial habits and pay more
attention to how money is wisely saved and spent.
Pennstar Bank and NBT Bank employees have conducted
over 150 classroom presentations in school districts and
community groups across the banks’ combined footprint. To
learn more, visit www.nbtbank.com/strive.
The theme of America Saves Week was “Set a Goal,
Make a Plan and Save Automatically.” Individuals at any age
can easily turn this theme into their own savings initiative
by following simple steps offered by the American Bankers
Association:
SET A GOAL
You can save more by having a goal in mind. Visualizing
what you want to save for gives your savings a purpose.
You may be tempted to withdraw from your savings if it
has no purpose. But once you have a goal in place, you
know that taking money out of your savings is taking away
from that ultimate goal. So what are you saving for? An
emergency fund, a home, retirement, a car?
MAKE A PLAN
Once you have your goal in place, make a plan for how
you are going to save. To start, cut down on your spending
and reduce high-cost debt. Next, keep track of what
you spend and make a budget. Once you know where
your money is going each month, you can cut down on
unneeded spending and save the difference. Don’t forget to
keep your savings safe, protected and growing.
SAVE AUTOMATICALLY
It can be hard to put aside money for savings. But there
is an easy way to save money without ever missing it.
Once you know how much you can save, make saving
automatic. Many employers allow you to divide your
paycheck into different accounts through direct deposit.
Take advantage by putting part of your pay into a savings
account. If you get paid in cash, take a small amount to
the bank to deposit into a savings account each week.
America Saves Week is coordinated by America Saves
and the America Savings Education Council. The Week is an
annual opportunity for organizations to promote good savings
behavior and a chance for individuals to assess their own saving
status. PBA
WELCOME NEW MEMBERS
We are pleased to present the newest members of the Pennsylvania Bankers Association (PBA). If you meet a
representative from one of these organizations, please welcome them to the PBA family.
AFFILIATE MEMBERS
The PFM Group
(Investment Consulting)
One Keystone Plaza
Suite 300
North Front & Market Streets
Harrisburg, PA 17101-2044
www.pfm.com
12
Mette Evans & Woodside
P.O. Box 5950
Harrisburg, PA 17110-1462
www.mette.com
Innovative Financing Solutions
(Bank consulting and advisory firm
specializing in the development and
implementation of government
guaranteed loan programs)
218 Ardmore Avenue
Ardmore, PA 19003
www.innovativefinancingsolutions.net
FNCB Donates $8,000 to Wyoming Seminary
Donation to provide scholarship assistance
First National Community
Bank (FNCB), recently announced
an $8000 donation to Wyoming
Seminary as part of its $181,000
Education Improvement Tax Credit
(EITC) commitment for 2013.
The donation to Wyoming Seminary will be used to
provide scholarship assistance to students attending the Lower,
Middle and Upper School campuses.
“Wyoming Seminary is most grateful to First National
Community Bank for its generous gift,” said John Shafer,
Vice President of Advancement. “FNCB has supported the
Seminary for nine years through this marvelous scholarship
program. Through these gifts FNCB has enabled academically
talented students to attend Seminary who otherwise would
not have been able to do so due to their family’s financial
circumstances.”
The support of Wyoming Seminary is part of FNCB’s
larger Community Caring initiative. PBA
(Above): Representatives from FNCB present an $8000 Education
Improvement Tax Credit (EITC) donation to Wyoming Seminary.
The donation will be used to provide scholarship assistance to students
attending the Lower, Middle and Upper School campuses. L-R: Joseph
Earyes, FNCB Chief Retail Banking & Operations Officer; John Shafer,
Wyoming Seminary Vice President of Advancement; and Patrick Barrett,
FNCB Senior Vice President, Regional Commercial Lending Manager.
Tell PBA about your community accomplishments.
PBA knows member banks and employees are active in the communities where you do business. You’re committed to
your customers and their families, and you show it by giving back. Please don’t keep the good news to yourself! Share your
community news with PBA and we will feature your stories and photos in paBanker magazine - a great way to spread the
word about your successes!
OUR COMMUNITY NEWS
NOW SEND IT IN!
Mail, fax or e-mail your
community news to:
Pennsylvania Bankers Association
Attn: Jill Helsel Gingrich
3897 North Front Street,
Name:
Title:
Bank:
Address:
City, State & Zip:
Tel.:
E-mail:
Fax:
Contact Jill; by phone,
fax or e-mail:
(717) 255-6915
Fax: (717) 233-1477
E-mail: [email protected]
13
Exciting things are coming...
www.pabanker.com
2014 PENNSYLVANIA BANKERS ASSOCIATION
PBA Residential Schools
The Penn Stater Conference Center • State College, Pa
The 2014 PBA Schools are the foundation on which successful banking careers are built. Graduates will develop
skills to prepare them to assume upper-level management positions in their respective financial institutions. Mark
your calendar and plan to take advantage of these exceptional residential educational offerings.
School of Banking
June 1-5
School of
Commercial Lending
June 1-5
Advanced School
of Banking
July 20-25
Cost: * Student tuition is for the complete in-residence program and includes registration, room and board, selected meals and
classroom materials.
• PBA Member: $1,995/Double Room • $2,445/Single Room
• Non-Member: $2,995/Double Room • $3,445/Single Room
Please visit www.pabanker.com for additional information on curriculum or contact Julie Carr, Assistant Vice
President, Professional Development, (717) 255-6914 • [email protected].
Professionals Dedicated to Your Success
14
2 0 1 4 P E N N S Y LVA N I A B A N K E R S A S S O C I AT I O N
2014 Convention
May 14-17, 2014 • The Ritz-Carlton, Naples • Naples, Florida
Brochure and registration
material available at
pabanker.com
15
PENNSYLVANIA BANKERS ASSOCIATION
PRESENTS
CONVENTION 2014
May 14-17, 2014 • The Ritz-Carlton, Naples • Naples, Florida
WEDNESDAY, MAY 14, 2014
1 p.m. – 4 p.m.
REGISTRATION
1 p.m. – 3:30 p.m.
WELCOME TO NAPLES
RECEPTION
This reception will highlight Naples
Italy for which Naples Florida is named.
Italian food, wine and music.
2:30 p.m. – 4:45 p.m.
DIRECTOR SESSSION Wholistic ALCO
Frank Farone
Managing Director
Darling Consulting Group
Newburyport, Mass.
They not only need to be up-to-date with the strategic
recommendations but also understand how the institution got
to that point and what drove the discussions.
Frank Farone is the Managing Director at Darling Consulting
Group where he consults nationwide with Directors, CEOs
and CFOs of banks to increase earnings through the proactive
management of capital, liquidity/funding, risk and interest
rate risk. He is a frequent speaker and author on topics such
as industry issues and trends, funding solutions, regulatory
issues, interest rate risk management, capital management and
derivatives hedging techniques.
6 p.m. – 7:30 p.m.
CHAIR RECEPTION
BAREFOOT BEACH BASH
THURSDAY, MAY 15, 2014
The board is ultimately responsible for Asset Liability
Committee (ALCO) Management.
“Existing interagency and international guidance identifies
the board of directors as having the ultimate responsibility for
the risks undertaken by an institution – including interest rate
risk.” – Advisory on Interest Rate Risk Management, January
6, 2010 “As part of their overall responsibilities, a bank’s board
and senior management should establish a strong model risk
management framework.” – Supervisory Guidance on Model
Risk Management, OCC 2011-2012.
Those two statements alone make it pretty clear that the board
needs to be knowledgeable in the entire “Wholistic” ALCO
process and have a solid understanding of their institution’s
current risk position and the strategies used to manage it.
7:15 a.m.
REGISTRATION
7:15 a.m.
CONTINENTAL BREAKFAST
7:20 a.m.
PBA SERVICES CORPORATION
DAWN DUSTER SESSION
8:15 a.m.
CONCURRENT SESSIONS
Concurrent A: Balance Sheet
Strategies In the New Journal
Dr. James J. Clarke, PhD.
Clarke Consulting
Villanova, Pa.
C O N V E N T I O N P RO G R A M
Dr. Clarke is on the faculty of a number of state banking
schools including New England School of Banking, Southwest
Graduate School, Connecticut School of Financial Students,
Pennsylvania School of Banking and Pennsylvania Advanced
School of Banking.
Jim conducts seminars on ALM and strategic planning for bank
associations and individual banks across the country. He has
worked with the Risk Management Association (RMA), the
Financial Managers Society (FMS), Regional Federal Home
Loan Banks, and Freddie Mac on ALM programs.
Journal, The Huffington Post, Central Penn Business Journal,
PA Banker, Ragan Communications, and a contributor to
several blogs, Anne holds dual bachelor degrees in English
and Communications/Journalism. Honored in 2007 as one of
Pennsylvania’s Best 50 Women in Business, she is a frequent
speaker and writer on entrepreneurship, women in business,
social media, and PR/marketing. She’s easy to connect with on
Twitter at @AnneDGallaher.
Concurrent C:
Third Party Vendor Management
J. Michael Edison
CEO
Fortrex Technologies, Inc.
Frederick, Md.
He is a frequent speaker to bank boards, and banking
conventions. In 2014 Jim will speak at the Connecticut and
Pennsylvania Bankers Conventions, RMA Convention, FMS
Forum and the Maine Bankers Directors Conference.
Dr. Clarke has written in the area of interest rate risk and asset/
liability management. Jim is on the editorial board of the
RMA Journal, and is a member of the board of two community
banks and an investment management company. Dr. Clarke
has a B.A. in Economics from LaSalle College and a Ph.D.
in Economics from the University of Notre Dame. He is a
former faculty member in the Finance Department of Villanova
University.
Concurrent B: Is Your Bank’s
Reputation Defined on Google?
Your Online presence is a
digital tattoo!
Anne Deeter Gallaher
Owner & CEO
Deeter Gallaher Group LLC
Mechanicsburg, Pa.
Anne is owner/CEO of the Deeter Gallaher Group LLC, a
marketing/PR firm that combines traditional and social media
to wield Powerful language. Smart marketing.®
Driven by measurable performance, Anne and her team create
award-winning results for clients in construction management,
mechanical contracting, engineering and infrastructure, IT,
banking, commercial real estate development, and music
entertainment.
Serving on The Salvation Army Harrisburg Capital Region
advisory board and the Harrisburg Regional Chamber/
CREDC board, Anne is also a member of The Wall Street
Journal’s Women in the Economy Task Force, 85 Broads, and
the founder of Harrisburg Social Media Club. Working to
build a stronger representation for her Music City clients, she
is a member of the Nashville Chamber of Commerce and is
establishing an office in Nashville.
Anne is the co-author with Amy D. Howell of Women in High
Gear: A Guide for Entrepreneurs, On-Rampers, and Aspiring
Executives released in 2013. Published in The Wall Street
Since co-founding Fortrex Technologies, Mr. Edison has been a
key figure in vendor risk management to the financial services
community. He is a frequent speaker at financial institution
seminars and conferences and has published whitepapers on
the subject of vendor risk management. He designed and
prototyped VendorPoint, Fortrex’s vendor risk management
solution. He obtained patent 7392203 Vendor Security
Management System which is the methodology upon which
VendorPoint is designed.
Prior to forming Fortrex Technologies, Mr. Edison held several
positions during his tenure with Pioneer Technologies. He was
the Corporate Director of Value Added services. In this position
he held responsibility for Pioneer’s entire systems integration
and component kitting operations. These operations combined
represented over $50 Million in revenue.
Prior to joining Pioneer, Mr. Edison held the position of Sr.
Scientific Programmer for Walt Disney World’s EPCOT Center.
He maintained responsibility for design, project management,
implementation, and maintenance of several systems within the
EPCOT complex.
9:15 a.m.
BEVERAGE BREAK
9:30 a.m.
GENERAL SESSION
The State of the Association
President & CEO
Harrisburg, Pa.
PBA Annual Business Meeting
Presiding: PBA Chair
Patricia A. Husic
President & CEO
Centric Bank
Harrisburg, Pa.
50-Year Club Inductions
PBA Annual Meeting
Nominating Report & Board Election
Installation of Officers
Other Business
Politics and Policies 2014
James Ballentine
Executive Vice President,
Congressional Relations &
Political Affairs
American Bankers Association
Washington, DC
James Ballentine is the Executive Vice President of
Congressional Relations and Political Affairs for the American
Bankers Association (ABA).
James, a 13 year veteran of ABA, leads the association’s
Congressional Affairs and lobbying group and is responsible
for managing and directing ABA’s political operations and
grassroots initiatives.
Prior to his current duties, James served as ABA’s Senior Vice
President for Grassroots and as Director of ABA’s Center for
Community Development. Prior to ABA, James served as the
Associate Deputy Administrator at the U.S. Small Business
Administration (SBA) and as the Senior Advisor to SBA’s
Deputy Administrator. Before SBA, James worked nine years on
Capitol Hill as Chief of Staff and Legislative Director (199398) to former House Banking Committee member Maryland
Congressman Albert Wynn (D-NY) and as Legislative Director
(1989-92) to former New York Congressman Frank Horton
(R-NY).
PBA Chair Remarks
Patricia A. Husic
President & CEO
Centric Bank
Harrisburg, Pa.
In March, 2007, Patricia A. Husic led a team of shareholders
to acquire, establish and turnaround Centric Bank and Centric
Financial Corporation, where she now serves as President and
Chief Executive Officer. Prior to taking the leadership role at
Centric Bank, Patti joined Vartan National Bank, serving as
Executive Vice President and Chief Financial and Operating
Officer. She was appointed to President in July 2005, making
her the only woman in Central Pa leading a financial institution.
In her current position as President and CEO of Centric Bank,
Patti has a diverse range of responsibilities, but is primarily
charged with carrying out the strategic direction of the bank
and meeting its financial goals as established by the Board of
Directors where she serves as a member. Under Patti’s leadership,
Centric Bank has been twice named among the Best Places to
Work in Pennsylvania and is a three-time award winner of the
50 Fastest Growing Companies in central PA.
In a nationwide recognition award event by American Banker,
“The Most Powerful Women in Banking in the US”, Patti
was named one of 25 “Women to Watch” in Banking and
Finance in the United States for 2011. She was an Athena award
honoree, a recipient of the Best 50 Women in Business in PA,
honored by Gov. Edward G. Rendell and the Department of
Community & Economic Development and named a Woman
of Excellence by the YWCA. Patti also served as a judge for
the Best 50 Women in Business in PA the year following her
award. Husic’s professional memberships include the PICPA
and AICPA, Women’s Business Network, and American Bankers
Association.
Patti is Chair of the Pennsylvania Bankers Association and
founder of its Women in Banking initiative. She is a board
member of the Whitaker Center for Science and the Arts,
American Heart Association, former board member of the
Capital Region Economic Development Corporation (CREDC/
Harrisburg Chamber of Commerce), and has been actively
involved in local charitable organizations including the Big 33
Scholarship Committee, Bishop McDevitt High School BlueGold Gala Committee, and chaired the “Light the Night Walk”
for the Leukemia and Lymphoma Society.
Before rising to executive positions at Centric Bank and
Vartan National Bank, Patti was a member of the executive
management team at Pennsylvania State Bank, where she
successfully spearheaded the finance and accounting area for 10
years. She also led the turn around and managed the technology
and management information functions for 4 years. Prior to her
distinguished career in banking, Patti worked for a local CPA
firm where she specialized in auditing financial institutions as
well as government and non-profit entities.
Ms. Husic is a graduate of Temple University where she earned
her B.B.A. in Accounting and Management Information
Systems. She is also a Certified Public Accountant in the state
of Pennsylvania.
11 a.m.
New Leaders: Developing the Next
Generation
Bruce Tulgan
Founder
Rainmaker Thinking
New Haven, Conn.
Bruce Tulgan is internationally recognized as the leading expert
on young people in the workplace and a leading expert on
leadership and management. He is a best-selling author, an
adviser to business leaders all over the world, and a sought-after
keynote speaker and management trainer.
Since 1995, Tulgan has worked with tens of thousands of leaders
and managers in hundreds of organizations ranging from Aetna
to Wal-Mart, from the Army to the YMCA. He has been called
“the new Tom Peters” by many who have seen him speak. In
recent years, he was named by Management Today as one of
the few contemporary figures to stand out as a “management
guru” and was named to the 2009 Thinkers 50 Rising Star List
(the definitive global ranking of the world’s top 50 business
thinkers).
6 p.m.
- RECEPTION
(By Invitation Only)
FRIDAY, MAY 16, 2014
Tulgan’s newest book is “It’s Okay to Manage Your Boss.” He is
also the author of the recent bestseller “It’s Okay to Be the Boss,”
as well as the classic “Managing Generation X.” Other books
include “Winning the Talent Wars,” which received widespread
acclaim from Fortune 500 CEOs and business journalists; the
bestseller “Fast Feedback; Not Everyone Gets a Trophy: How to
Manage Generation Y;” and “Managing the Generation Mix.”
Many of Tulgan’s works have been published around the world
in foreign editions.
Tulgan pens a regular online column for The New York Daily
News and his writing appears regularly in human resources,
staffing, and management journals. His writing has also
appeared in dozens of magazines and newspapers, including
Harvard Business Review, BusinessWeek, HR Magazine, The New
York Times, The Los Angeles Times, and USA Today. In addition,
his work has been the subject of thousands of news stories
around the world.
11:45 a.m.
SUPER DUPER SNACK &
STRETCH BREAK
11:50 a.m.
GENERAL SESSION RESUMES
Cyber Security
Dr. Kevin F. Streff
Professor/President
Dakota State University/Secure
Banking Solutions
Madison, S.D.
Dr. Streff is the Director of the Center for Information
Assurance at Dakota State University, which has been recognized
by the National Security Agency and The Department of
Homeland Security as a national center of academic excellence
in information assurance. Dr. Streff has extensive knowledge
of the financial services industry, including banking, insurance,
and credit operations, and speaks nationally on security issues
and solutions relevant to small and medium-sized financial
institutions. He is the founder and managing partner of Secure
Banking Solutions, a security consulting firm focused on
improving security in financial institutions across the country.
Dr. Streff is also President of InfraGard - South Dakota, a
partnership program between private industry and the U.S.
government (represented by the FBI). He has testified to
Congressional committees on behalf of small and medium-sized
financial institutions regarding cyber security issues affecting
their organizations.
1 p.m.
ADJOURNMENT
FREE AFTERNOON to
ENJOY NAPLES!
7:15 a.m.
REGISTRATION
7:15 a.m.
7:30 a.m.
INVESTMENT BANKING PANEL
Facilitated by: Mark McCollom
Senior Managing Director, Co-Head,
Financial Institutions Group
Griffin Financial Group, LLC
Reading, Pa.
8:30 a.m.
CONCURRENT SESSIONS
Concurrent A: Traversing
the Minefield –
Managing the Threats to your Deal
Kenneth J. Rollins
Partner
Rhoads & Sinon
Harrisburg, Pa.
Dean H. Dusinberre
Partner
Rhoads & Sinon
Harrisburg, Pa.
Ken Rollins is a member of the firm’s Financial Institutions and
Corporate Finance & Securities practice groups. Ken’s practice
focuses primarily on advising financial institutions on matters
involving regulatory compliance, acquisitions and divestitures,
capital raising, strategic planning and compliance with federal
and state securities laws and frequently presents on such topics.
In this capacity, Ken has substantial experience representing
clients before the Board of Governors of the Federal Reserve
System, FDIC, OCC, Pennsylvania Department of Banking,
SEC and various state banking and securities regulatory
agencies.
Mr. Rollins graduated in 2005 from the Dickinson School
of Law of the Pennsylvania State University. Active in the
community, Mr. Rollins is currently Corporate Secretary of
Aurora Social Rehabilitation Services, a Harrisburg based
nonprofit providing services to adults with mental illness and
mental retardation.
Dean Dusinberre serves as a member of the firm’s Executive
Committee. He also served as Manager of the firm’s Banking &
Securities practice group from 1996 through 2005.
Mr. Dusinberre represents banks and corporate clients in a
variety of merger and acquisition transactions and with respect
to matters of corporate governance and investor relations. He
regularly represents banks in regulatory matters before federal
and state banking agencies and frequently serves as lender’s
counsel in connection with complex commercial loans and
structured financing transactions and in connection with
developing and implementing workout strategies.
He is a frequent speaker on these subjects before the
Pennsylvania Bankers Association, the Pennsylvania Institute of
Certified Public Accountants and the Pennsylvania Bar Institute.
Guest Session: Know Before You Go
– Traveling Smart & Safely Abroad
Kevin Coffey
Founder
Corporate Travel Safety
Calabasas, Calif.
Detective Kevin Coffey is an expert in travel safety and other
crime avoidance advice, he has trained America’s business
travelers for over 10 years.
An active, 23-year police veteran and founder of the Airport
Crimes Investigations Detail, he is still with one of the largest
police departments in the United States. A pioneer in the area of
travel safety, he is passionate about reducing the victimization of
travelers.
Kevin’s client list includes ExxonMobil, Fireman’s Fund, Visa,
Motorola, Blue Cross, Honeywell, Pfizer, Samsung Electronics,
Toyota Motor Sales, countless associations and the United States
government.
In addition to speaking and training, Kevin is the founder of
Corporate Travel Safety which provides consulting services and
travel safety products.
9:30 a.m.
CONCURRENT SESSIONS
Concurrent A: The New Normal
Jack Salvetti, CPA
President
S.R. Snodgrass, A.C.
Wexford, Pa.
Jack leads management and director teams in the achievement
of high performance in the areas of strategy, enterprise risk
management, process improvement, and earnings growth. Jack
gained a national industry perspective assisting hundreds of
organizations located throughout the country. He combines his
background as a CPA with business experiences gained over a
career that has spanned four decades as well as his role leading
the firm as President and CEO.
Jack is recognized nationally as an expert in the financial services
industry, participates on the faculties of American Bankers
Association Stonier Graduate School of Banking and the
Pennsylvania Bankers Association Advanced School of Banking,
has authored several articles on bank performance-related topics,
and is a frequent speaker at financial management conferences.
Concurrent B: Technology Trends:
A CEO’s Blueprint to the Digital
Universe
Jack VonderHeide
President
Technology Briefing Centers, Inc.
Oak Brook, Ill.
Jack VonderHeide is one of the nation’s leading authorities
on technology and its impact on American business. He
is consistently ranked among the top speakers at industry
conventions, management conferences, corporate seminars,
board meetings and other events.
Prior to founding Technology Briefing Centers in 1993,
Jack was Vice President of Sales for a major financial services
company and held marketing positions with IBM Corporation.
Jack is regularly quoted in the Wall Street Journal and other toptier newspapers and magazines. He appears on television and
radio programs throughout the country and has been a guest
lecturer at Harvard Law School.
Jack’s clients include banks, financial services firms, trade
associations, Fortune 500 corporations and a variety of public
and privately held companies.
Guest Session: Investment Literacy:
Understanding the Basics
Binney H.C. Wietlisbach
President
The Haverford Trust Company
Radnor, Pa.
Binney Wietlisbach is the firm’s President and has been with
Haverford since 1992. She is a member of the Executive
Committee, a voting member of the Investment Selection
Committee, and a member of the Board of Directors of The
Haverford Trust Company. Binney is also the Vice President of
Haverford Financial Services. She holds FINRS Series 7, 24,
27, 63, and 65 licenses. Binney has worked in the investment
industry since 1985. Prior to her work with The Haverford
Trust Company, Binney was in the private banking department
at Meridian Bank.
Binney has been recognized by Barron’s “Top 100 Women
Financial Advisors” and “Top 1,000 Financial Advisors” and
voted a “Woman of Distinction” by the Philadelphia Business
Journal.
Wietlisbach currently serves and has served on numerous boards
of directors, several include; Children’s Hospital of Philadelphia,
Philadelphia Bar Foundation, Alumni Board, PA State
University and the Historical Society of Philadelphia.
Binney is the mother of two teenage children, an avid runner
and plays on the first golf team for Gulph Mills Golf Club.
10:45 a.m.
GENERAL SESSION
Global Economics and Its Risk to
U.S. Recovery
Daniel Altman
Chief Economist
Big Think
New York, N.Y.
Daniel Altman is an economist and writer and the founder of
the Emerging Design Centers initiative. He is also the founder
and president of North Yard Economics, a not-for-profit
consulting firm that provides economic analysis to governments
and non-governmental organizations in developing countries.
He writes commentary on economics (and occasionally on
soccer) in English and Spanish. Altman teaches economics as an
adjunct professor at the New York University Stern School of
Business and serves as Chief Economist of Big Think.
Mr. Altman was formerly director of Thought Leadership at
Dalberg Global Development Advisors. He also worked for
many years as an economic journalist, most recently as the
global economics columnist of the International Herald Tribune.
Previously, he had been one of the youngest-ever members of
the editorial board of The New York Times, under then-editor
Howell Raines. He was also on the staff of The Economist.
Outside of journalism, he served as an economic advisor to the
British government in 2003 and 2004.
Me to We: How One Person Can
Make a World of Difference
Marc Keilburger
Co-founder
Free the Children
Toronto, Canada
For over two decades, Marc has visited dozens of countries,
meeting people from all walks of life. He has been fortunate
to learn from some of the greatest spiritual, political and social
leaders of our time, including the Dalai Lama, Nelson Mandela
and Mother Teresa. He has shared simple meals with children
struggling in the slums of Calcutta, Brazil and Thailand, and
has shared the stage with heads of State at United Nations
conferences. He has also had the chance to speak with thousands
of students, parents and educators who hold a common
commitment to global change.
Free The Children, an international charity and educational
partner, delivers innovative programming to more than 4,000
youth groups and hundreds of thousands of young people in
Canada, the United States and the United Kingdom. As the
world’s largest youth-driven charity, the organization works in
eight developing countries and has built more than 650 schools
and school rooms, providing education to more than 55,000
children every day.
We Day, an annual event held by Free The Children engages
160,000 students from 4,000 schools in person and reaches
more than 5.4 million viewers through televised broadcasts. We
Day has more than three million followers on Facebook, making
it one of the largest charitable causes in the world.
Marc has also found time to hit the books, having graduated
magna cum laude from Harvard University, with a degree in
international relations. He won a coveted Rhodes Scholarship
and went on to complete a law degree at Oxford University.
Marc has also received nine honorary doctorates and degrees for
his work in the field of education and human rights.
12:45 p.m.
GOLF TOURNAMENT
TRANSPORTATION
1:30 p.m.
GOLF TOURNAMENT
Shotgun Start
Ritz-Carlton Golf Resort, Naples
7:30 p.m. – 10 p.m.
Closing Theme Party &
Entertainment
“BLACK & WHITE...
INFORMALLY”
Wear your favorite black and/or white
casual outfit and enjoy a fabulous night
of dining and dancing.
THANK YOU, CONVENTION SPONSORS
DIAMOND
Theme Party
Food & Beverage
Co-Sponsor
Theme Party Entertainment
Chairs Beach Bash
Co-Sponsor
Theme Party Entertainment
P L AT I N U M
Sponsor Speaker,
Daniel Altman
Co-Sponsor Speaker,
Marc Keilburger
Co-Sponsor Speaker,
Marc Keilburger
Sponsor Speaker, Bruce Tulgan
GOLD
Mobile App
Co-Sponsor Friday Breakfast
Black 80%
Airport Shuttle
Sponsor Speaker, Kevin Streff
SM
®
Welcome to Naples Reception
Co-Sponsor
Registration
C S
R i t ti Desk
D k
Officer Giveaway
Officer Giveaway
Officer Giveaway
S I LV E R
Confirmation Kits
Badge Lanyards
Co-Sponsor Registration Desk
Room Keys
Co-Sponsor Friday Breakfast
Sponsor in part
Super Duper Snack & Stretch Break
Sponsor in part
Golf Prizes & Refreshments
®
Convention Program
Co-Sponsor Thursday Breakfast
Staff Attire
General Session Break - May 15
Co-Sponsor Thursday Breakfast
American Banker
KPMG LLP
Meyer-Chatfield
Mosteller & Associates, Inc.
PULSE
Silver, Freedman, Taff & Tiernan LLP
SNL Financial
SunTrust Robinson Humphrey, Inc.
Travelers
Quest Analytics
*As of April 4, 2014
BRONZE
Accume Partners
Boenning & Scattergood
FinSecure, A Berkley Company
First Commonwealth Bank
Jack Henry & Associates
Sheila Mathews
President & CEO,
Four Corners Community Bank, NM
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GOVERNMENTrelations
GOVERNOR PROPOSES UNCLAIMED PROPERTY CHANGES
On February 4, 2014 Governor Corbett presented his proposed fiscal year 2014-15 state general fund budget for
the Commonwealth to a joint session of the Legislature. In it he called for changes in PA’s Unclaimed Property Law
that would reduce the “dormancy period” after which certain property, including various types of bank accounts, the
contents of safe deposit boxes, and property held in a fiduciary capacity, would be presumed abandoned and unclaimed
after three years, down from the current five year period.
For those unfamiliar with this law, a shortening of this dormancy period is presumed to result in an increased cash
flow to the Commonwealth, which is counted towards increased revenues. The Administration is estimating this change
will net the Commonwealth $150 million for the 2014-15 fiscal year.
PBA has historically opposed such a change and on its February 7 conference call, the Government Relations Policy
Committee determined that PBA should again oppose this as a high priority. PBA
ESTABLISHMENT OF A STATE OR COUNTY BANK
Several states have considered proposals to establish a state run bank. PBA recently was advised that Luzerne
County may be considering establishment of a county run bank.
On its February 7 conference call, the Government Relations Policy Committee determined that PBA should
oppose this concept, express its opposition in writing to the Luzerne County Commissioners and determine the views of
the PA Department of Banking and Securities on this issue. PBA
UPDATE ON DEPARTMENT OF BANKING AND SECURITIES ASSESSMENT PROPOSAL
In 2013, the Department of Banking and Securities proposed increases in state chartered bank and trust company
examination fees and other regulatory changes. PBA filed comments indicating the proposed regulation does meet the
goals of the Department in strengthening the financial well being of the Banking Department Fund. This proposal was
considered and unanimously rejected by the Independent Regulatory Review Commission (IRRC) during its meeting
on February 27. Commissioners expressed concerns that the automatic inflation adjuster mechanism contained in the
regulation was too ambiguous. The Department is expected to suggest clarifications to its proposal to address these
concerns. A revised proposal may be considered at the IRRC’s April meeting. PBA
BANK SHARES TAX STUDY
PBA continues to be in communication with the PA Department of Revenue to offer assistance and encourage the
Department to undertake the study of the Bank Shares Tax that was adopted as part of the broad changes to the Bank
Shares Tax that PBA successfully advocated for in 2013. This study is required to be completed by the Department by
December 31, 2014. PBA
Each legislative session, a significant number of issues that influence banking are considered
by the PA General Assembly that affect your bottom line.
Decisions that the legislature makes on financial-related issues concern you, your customers,
your job, your family and even where you bank. Will you sit and watch or will you get
involved?
24
IMPLEMENTATION OF NON-RESIDENT BENEFICIARY INCOME WITHHOLDING REQUIREMENTS FOR CORPORATE FIDUCIARIES
PBA continues to work with the Department of Revenue on implementation issues with regards to these new
requirements also contained in the Tax Code changes enacted as part of Act 52 of 2013. PBA will be seeking legislative
changes to address some of these issues. PBA
DELINQUENT TAX LIEN LAW – ACT 93 OF 2013
Act 93 of 2013 (House Bill 388) signed into law on November 27, 2013, allows a claim for unpaid property
taxes to be enforced as a judgment against the delinquent taxpayer in the form of a lien against other real property the
delinquent taxpayer owns.
PBA had raised concerns with this legislation when it was being considered by the Senate this fall, but was not
able to have the bill amended further to address these concerns. However, at the request of PBA, Senator John Blake
(D-Lackawanna), Minority Chair of the Senate Finance Committee, entered this statement for the record when the bill
was considered on November 20, 2013:
“It is important to note at the outset that the underlying tax claim will have already been subject to the procedural
requirements for a claim to be rendered absolute under the Real Estate Tax Sale Law, or to be given the effect of a
judgment under the Municipal Claim and Tax Lien Law. Both laws require the docketing of delinquent tax claims,
which can be searched by the public.
It is the intent of this legislation, and I believe that the language accomplishes this, that these liens must be treated
in the same manner as other judgment liens, subject to the same filing requirements and the same rules of priority. It
is critical that property owners, mortgage companies, parties to real estate transactions, and the world at large be able to
know where to find them, and understand their effect. The liens must be recorded in the manner provided and will be
given priority in accordance with Pa.C.S. §§ 4303 and 8141 and the Pennsylvania Rules of Civil Procedure.
In short, no lien will be effective unless all of the requirements of law are satisfied to give notice that the lien exists,
and no lien authorized by this legislation will be given priority over a previously recorded interest in the property subject
to the lien.
PBA is working with the PA Land Title Association (PLTA) to develop legislation to address the issues of concern
that have been identified by PBA and the PLTA. PBA
POWER OF ATTORNEY LEGISLATION
(HB 1429 & SB 620) limiting third party liability (banks) for accepting POA’s as the result of Dec. 2010 PA
Supreme Court Vine decision. PBA continues to ask Senate and House Leadership for final passage of one of these bills
this session. PBA
CONTINUED ON NEXT PAGE f
The time is now -- the choice is yours. Get involved!
At the PBA, our legislative advocacy efforts are one of the best and we want YOU to be
involved by becoming a Grassroots Advocate or Contact Banker.
Grassroots Advocates are responsible for responding to PBA’s Call-To-Action Alerts and
ensuring that appropriate responses are being generated to the legislature throughout your
bank.
Contact the PBA staff today – e-mail [email protected] or call (717) 255-6910.
25
GOVERNMENTrelations
...CONTINUED FROM PAGE 25
MECHANICS LIEN LEGISLATION
(SB 145 & HB 982) addressing priority of open end
mortgages (construction loans) over mechanics liens;
Commerce vs. Kessler decision; cost of construction
– said that if proceeds of the loan are used for soft
costs, they do not have lien priority over mechanics
liens; creates uncertainty in construction lending; PBA
continues to advocate for final passage of one of these
bills. PBA
Dept of Aging pushing; no bills introduced yet. PBA is
very actively engaged in this issue. PBA GRPC Chairman
Mike Allen testified at a House Aging Committee hearing
in December on this issue. PBA
SALES TAX EXPANSION TO INCLUDE INVESTMENT SERVICES
SB 76 & HB 76 would subject investment services
and potentially other banking services and professional
service to a 7 percent tax. The House rejected this
proposal but the Senate continues to deliberate on it.
PBA actively opposes. PBA
ELDER FINANCE ABUSE AND AMENDMENTS TO THE OLDER
MUNICIPAL FINANCE ISSUES
ADULT PROTECTIVE SERVICES ACT
Interest rate swaps and lending to local government
units – SB 901- & 903. PBA has formed a working group
to assist with providing input on this legislation. PBA
Mandatory reporting by financial institutions and
mandatory training for financial institution employees;
2 0 1 4 PE N N S Y LVA N I A B A N K E R S A S S O C I AT I O N
2014 Bankers Day at the Capitol
PBA’S BANKERS DAY AT THE CAPITOL WILL BE HELD
ON MONDAY, APRIL 28. TO COMMEMORATE 6 YEARS,
HERE ARE 6 REASONS TO ATTEND:
1
2
3
4
5
6
Make your voice heard! If you do not talk about your banking experience, who will? Elected officials
need to hear from you – a business in their community who are serving their constituents.
Engage your team. Consider asking a colleague or two to attend. This is an incredible opportunity to
expand knowledge among your emerging leaders and get them involved in the political process.
Dr. Terry Madonna, noted political analyst and entertainer, will provide his input and
prognostications on the 2014 elections. His perspective is always interesting and valuable.
Brunch is served. Breakfast? Lunch? At Bankers Day at the Capitol, brunch is served.
Hear from the Governor. A friend to the industry and to the business community, Governor Corbett
will join us in the afternoon. Listen to his take on the state of Pennsylvania and industry growth.
Bankers Day at the State Capitol is our opportunity to come together as ONE.
It’s not too late to register for Bankers Day.
Register on our Web site – www.pabanker.com
or e-mail Erin Kanter, [email protected]
26
GOVERNMENTrelations
Veterans Designation
Frequently Asked Questions
CLAIMING VETERANS’ STATUS WHEN
NOT A VETERAN HAS SERIOUS
CONSEQUENCES MISREPRESENTATION
OF VETERAN STATUS WILL RESULT IN
THE CANCELLATION OF YOUR DRIVER’S
LICENSE AND/OR IDENTIFICATION CARD
WHY WAS THE VETERANS DESIGNATION CREATED AND WHAT DOES IT
LOOK LIKE?
Act 176 of 2012 has allowed PennDOT to issue a
Pennsylvania driver’s license or identification card that
clearly indicates that the bearer is a veteran of the United
States Armed Forces. This has been accomplished by
creating an icon consisting of the American Flag with the
word “Veteran” beneath it for placement on the front of the
bearer’s driver’s license or identification card.
WHO IS ELIGIBLE FOR A VETERANS DESIGNATION?
Qualified applicants for a Veterans Designation on
their driver’s license or identification card include those
who have received a Certificate of Release or Discharge
from Active Duty/DD214 or equivalent for service in
the United States Armed Forces, including a reserve
component, or the National Guard who were discharged
or released from such service under conditions other than
dishonorable.
DD214 or equivalent for service in the United States
Armed Forces, including a reserve component, or the
National Guard who were discharged or released from such
service under conditions other than dishonorable.
HOW WILL YOU PROVE THAT I AM A VETERAN?
The Department of Military and Veterans Affairs will
audit submissions to verify veteran status.
Only applicants who have received a DD214 or
equivalent for service in the United States Armed Forces,
including a reserve component or the National Guard,
who were discharged or released from such service
under conditions other than dishonorable, should apply
the Veterans Designation to their driver’s license or
identification card.
WILL I HAVE TO CONTINUALLY REAPPLY FOR THE VETERANS
DESIGNATION?
HOW DO I OBTAIN A VETERANS DESIGNATION ON MY DRIVER’S
No, once the Veterans Designation is added to your
license or identification card it will be added automatically
with each renewal or replacement order.
LICENSE OR IDENTIFICATION CARD?
IS THE VETERANS DESIGNATION AVAILABLE FOR CDL HOLDERS?
Qualified applicants should visit www.dmv.state.
pa.us and click on the American Flag icon with the
phrase “Veterans Designation” beneath it. Applicants will
be given the opportunity to renew or order a duplicate
driver’s license or identification card which will contain the
designation.
Yes, qualified Commercial Driver’s License holders
may apply to have the Veterans Designation on their
license. However, CDL holders are not eligible to add the
designation via an online transaction.
To renew a CDL and add the Veterans Designation,
applicants must complete and mail in a DL-143CD form
and applicable fees.
To obtain a duplicate CDL and add the Veterans
Designation, applicants must complete and mail in a DL80CD form and applicable fees.
DO I HAVE TO PAY FOR THE VETERANS DESIGNATION?
There is no fee for the Veterans Designation itself;
however, qualified applicants must pay any applicable
initial issuance, renewal or duplicate driver’s license or
identification card fees.
IMPORTANT
Applicants must self-certify that they have received
a Certificate of Release or Discharge from Active Duty/
ARE VETERANS REQUIRED TO OBTAIN THE NEW DESIGNATION ON A
DRIVER’S LICENSE OR IDENTIFICATION CARD?
No, the Veterans Designation is optional.
PB
A
27
GOVERNMENTrelations
Pennsylvania Real Estate Tax Liens Expanded
to Apply to All Real Property of Delinquent
Taxpayers
UNDER LONG-STANDING PENNSYLVANIA LAW, PROPERTY TAXES
WHEN LEVIED IMMEDIATELY CREATE A FIRST-PRIORITY LIEN
AGAINST THE TAXED PROPERTY UNTIL PAID. Recently enacted
ABOUT THE AUTHOR:
Raymond P. Pepe,
a member of the
law firm of K&L
Gates, LLP, serves as
outside counsel to the
Pennsylvania Bankers
Association.
The article is not intended to convey or contain legal
advice and should not be relied upon in regard to
any particular facts and circumstances without the
advice of counsel. The new law is Act 93 of 2013
(House Bill 388, Printer’s No. 1794) (53 P.S. §
7106(a)(20-(5)), the text of which is available at
www.legis.state.pa.us.
28
legislation that took effect on January 26, 2014, further provides when
a claim for delinquent taxes is “reduced to judgment,” an additional
lien arises that is “enforceable” against other real property owned by
a delinquent taxpayer “in the same manner and to the same extent
as a judgment for money under the generally applicable laws of this
Commonwealth.”
Understanding how this new law works and will affect financial
institutions requires a general review of the procedures for enforcing
a money judgment against real property of the defendant and an
explanation of some arcane Pennsylvania legal terminology.
Upon receipt of a court order or “on praecipe of a party,” when
a verdict or order to pay a specific sum of money is entered in
any Pennsylvania court, the chief clerk of the court (known as the
prothonotary) is required to immediately enter into county’s judgment
index the names of the parties to the proceeding in which the verdict
or order was entered; the docket number of the case; the date and time
of entry of the verdict or order into the index; and the amount of the
judgment.
A praecipe is a request from the plaintiff made to the prothonotary
to enter the verdict or order in the judgment index, and must
be accompanied by a certified copy of the verdict or order. The
prothonotary may not accept a praecipe for entry of a judgment unless it
includes a certificate that a copy of the praecipe has been mailed to each
other party to the proceeding that gave rise to the verdict or order, or to
their attorneys of record. Immediately upon entry of a verdict or order
into the judgment index, the prothonotary is also required to give notice
of entry of the judgment to the parties to the proceeding.
Unlike a tax lien that automatically arises against any taxed property
when taxes are levied, a judgment lien is not a first priority lien. Instead,
a judgment lien takes priority from the time the writ of execution is
entered into the county judgment index. As a result, the judgment lien
is subordinate and inferior to prior existing liens, such as mortgages. A
judgment lien is effective for five years from the date entered, unless the
lien is revived and its effectiveness is extended. A judgment lien is only
effective against property in the county in which it is recorded, but the
GOVERNMENTrelations
lien may also be separately recorded in other counties in
which the judgment debtor owns real property, but only
takes priority in other counties when entered into their
respective judgment indexes.
To enforce a judgment lien, the judgment holder
must file a “praecipe for writ of execution” with the
prothonotary. A praecipe for writ of execution is a
request that the prothonotary issue a writ of execution.
A writ of execution is an order directed to the county
sheriff to initiate proceedings for sale of the defendant’s
real property to the extent necessary to satisfy the
judgment; sequester rents and other income generated by
the property; and grant other relief (such as blocking any
sale or transfer of the property) as directed by the court.
Notice of the writ of execution must also be entered
into the judgment index, and when entered, applies to
property that has come into possession of the defendant
after the time the verdict or order was entered into the
index.
A writ of execution may also request that the
prothonotary enter a “lis pendens” against real property
of the defendant held in the name of a “garnishee.” A
“lis pendens” is a notice that the judgment lien may
be applied to property of the defendant held by the
garnishee unless the defendant or the garnishee files
objections explaining why the claims against the property
of the defendant should not apply to property held by
the garnishee. A garnishee is a person who is deemed to
be in possession of property of the defendant by virtue
of a debt to the defendant; having custody, possession or
control of property of the defendant; holding fiduciary
property in which the defendant has an interest; holding
legal title to the property of the defendant; or possessing
property subject to a mortgage, judgment or lien in
which the defendant has an interest.
In order to seek enforcement of a property tax claim
against property other than the property upon which
taxes are delinquent, the tax claim must be “reduced
to judgment.” In jurisdictions in which delinquent
taxes are collected by the county tax claim bureau, this
generally occurs on January 1st of the year following
the year in which the tax claim is returned by the tax
collector to the tax claim bureau. For example, for
taxes dues in 2013, a claim will generally be reduced
to judgment as of January 1, 2015. In jurisdictions in
which delinquent taxes are not collected by the county
tax claim bureau, but instead are collected under the
Municipal Claim and Tax Lien Law, i.e., typically by
contingent fee collection attorneys hired by local taxing
authorities, the applicable time at which a claim is
reduced to judgment is not well defined. In general,
however, under the Municipal Claim and Tax Lien Law,
tax claims give rise to a judgment when a taxpayer is
given notice of the claim and fails within 15 days to file
an affidavit of defense, and a default judgment is entered
by the court, or if an affidavit of defense is presented,
when the court ultimately rejects the defense asserted to
the enforcement of the tax claim.
Under the new law, a judgment lien “exists separate
and apart from the tax lien” and “does not affect other
remedies available to a municipality for the collection of
taxes.” As a result, in addition to providing additional
tools to collect delinquent taxes when a tax sale generates
insufficient proceeds to satisfy tax claims, the new
law may also allow claims to be asserted against other
properties of delinquent taxpayers before efforts are
undertaken to sell tax delinquent properties. The new
law will also allow liens to be enforced against properties
not located within the jurisdiction of the political
subdivision levying the delinquent taxes, including
properties not located in the same county as the political
subdivision which levied the delinquent property taxes.
The Pennsylvania Bankers Association and the
Pennsylvania Land Title Association are working together
to evaluate the new law and identify any problems it may
create. In addition, the associations have begun joint
efforts to develop amendments to the law to better clarify
the procedures for enforcing liens; more clearly define
when liens may be enforced; specify how and when notice
must be given to property owners and other persons with
interests in property regarding lien enforcement; how
defenses to the enforcement of liens may be asserted; and
when and to what extent liens asserted against properties
other than those subject to delinquent taxes are afforded
priority over other interests, liens and mortgages. In
this regard, the Pennsylvania Bankers Association is
forming a Tax Lien Working Group to identify any
problems that the new law creates and participate in the
development of amendments to the legislation to ensure
that its provisions are fair and reasonable. If you or your
colleagues have identified issues other than those listed or
you wish to serve on PBA’s Real Estate Tax Lien Working
Group, please contact PBA’s Dan Reisteter at dreisteter@
pabanker.com or (717) 255-6933. PBA
29
GOVERNMENTrelations
PaBPAC
ABOUT THE AUTHOR: James E. Shreiner, 2014 PaBPAC Chairman, Senior Executive Vice President/
Administrative Services Fulton Financial Corporation, Lancaster, PA
IDENTIFYING AND MANAGING RISK IS A RESPONSIBILITY OF EVERY EMPLOYEE AT THE BANK. Risk
is a buzzword in our industry – from compliance risk to fraud risk to credit risk. However, political risk is
just as important. In today’s regulatory environment, we have had to re-evaluate our approach to political
risk.
It is critical to support candidates who believe in a competitive, fair-banking climate. They will spend
months considering proposed legislation that impacts our bottom lines. The risk of not supporting them is
detrimental to our business, our employees and our customers.
With the changing federal and state political landscape, it is more important than ever for bankers to assess
their political risk and become active in the legislative process. PaBPAC needs to continue to grow to meet
the needs of our industry, which is why we have set a goal of $420,000 for this year’s campaign.
I encourage you to think about managing political risk as you would fraud risk and credit risk. You
must understand the importance of political involvement. Contributing to PaBPAC is just one way
to mitigate some of the political risk facing your individual institution.
Thank you for all of your support in the past and all of your support in the future. Together,
we can support candidates who believe that the business of banking is the core of a strong economy.
If you have any questions about PaBPAC, please contact PBA’s Erin Kanter, [email protected]
or (717) 255-6910.
WHY
SHOULD I
PARTICIPATE
IN
GRASSROOTS
AT THE PBA?
30
BANKING FACES MORE REGULATION,
LEGISLATION, AND COMPETITION THAN
MOST OTHER INDUSTRIES DO. Every
year the state legislature spends months
considering legislation that affect bankers’
bottom lines and the way financial
institutions conduct business. The reality
is that the banking industry competes with
many other special interests in seeking to
influence the outcome of legislation being
considered that affects their industries. We
live in a competitive democracy and those
who sit on the sidelines lose out.
Don’t wait for someone else to speak up.
Use your voice to tell your legislators how
a specific bill impacts your bank and your
customers.
Visit www.pabanker.com for issue briefs on
issues or call PBA’s Government Relations
staff, (717) 255-6910 with questions.
They had the right mix of solid
experience and knowledge of
banking operations that kept my
institution ahead of the industry.
That’s confidence
through clarity.
We make it a priority to monitor legislative and regulatory
changes as well as economic trends that influence your day to
day business. Our 200 financial institution clients include de
novo banks to multi-billion dollar asset bank holding companies.
See what we can do for you.
ParenteBeard.com
© ParenteBeard LLC
Women in Banking Wrap Up
OVER 250 ATTEND INAUGURAL PBA
WOMEN IN BANKING CONFERENCE
More than 250 female financial services professionals,
representing over 80 organizations, attended the Pennsylvania
Bankers Association (PBA) inaugural Women in Banking
Conference held today. The participants were individuals of
banks, corporate sponsors and professional firms from across the
state, representing a diverse cross section of organizational size,
geographic location and levels of management.
The PBA Women in Banking Initiative, launched last fall, is
designed to recognize and highlight the contributions of women
involved in Pennsylvania’s banking industry, while providing
networking opportunities and professional development
tailored to strengthen and deepen involvement in the industry,
community and the Association.
The Conference consisted of a networking breakfast,
luncheon and educational sessions presented by
national and regional speakers. The program included:
• Patricia A. Husic, PBA Chair, President & Chief Executive
Officer, Centric Bank
• Gail Evans, Best-Selling Author, Speaker & Former CNN
Executive
• Valerie Pritchett, News Anchor, abc27
• Charlotte B. McLaughlin, CEO, PNC Capital Markets
• Kate Deringer Sallie, Esquire, Partner, Rhoads & Sinon,
LLP
• Jessica E. Myers, Owner & President, JEM Group
• Shawn Kent Hayashi, Founder, The Professional
Development Group
• Anne Deeter Gallaher, Owner & CEO, Deeter Gallaher
Group
• Kelly McDonald, President, McDonald Marketing
“We look forward to uncovering ways to provide women of
the banking industry with a deeper sense of inclusion within
their own organizations, communities, and the industry.
Understanding that this inaugural Women In Banking
Conference is truly just scratching the surface, we embarked
today on a journey to assist navigating paths to success,
providing the professional development necessary to forge those
paths and expanding the involvement of women in all areas of
the industry and the PBA,” said PBA Chair, Patricia A. Husic,
President and CEO, Centric Bank.
An Advisory Committee made up of 15 volunteer bankers,
led by Ms. Husic, will work within the Association’s structure
to provide expanded, focused resources to the women of
Pennsylvania’s banking industry.
Advisory Committee Members*:
• Group 2 Representative: Linda Bishop, Senior
Vice President, Specialty Markets, Milestone Bank,
Doylestown, Pa.
• Group 2 Representative: Stephanie Ritz, Vice President,
Branch Manager, Milestone Bank, Doylestown, Pa.
• Group 2 Representative: Dale Wentz, Senior Vice
President, Chief Retail Officer, QNB Bank, Quakertown,
Pa.
• Group 3 Representative: Mary McNichols, CTFA, PHR,
Human Resource Director, Fidelity Deposit and Discount
Bank, Dunmore, Pa.
• Group 3 Representative: Jill George, Vice President,
Human Resources, The Dime Bank, Honesdale, Pa.
• Group 4 Representative: Tracy Watkins, SPHR, Vice
President, Director of Human Resources, Citizens &
Northern Bank, Wellsboro, Pa.
• Group 4 Representative: Trisha Shearer, Vice President,
Director of Marketing/Human Resources, West Milton
State Bank, West Milton, Pa.
• Group 5 Representative: Lynda Glass, Executive Vice
President, Secretary & Chief Risk Officer, ACNB Bank,
Gettysburg, Pa.
• Group 5 Representative: Angie Sargent, Senior Executive
Vice President & Chief Information Officer, Fulton
Financial Corporation, Lancaster, Pa.
• Group 5 Representative: Diane McCann, SPHR,
Vice President, Regional Human Resources Manager,
Susquehanna Bank, Enola, Pa.
• Group 6 Representative: Susanne House, Community
Office Manager, Clearfield Bank & Trust Company,
Mount Union, Pa.
• Group 6 Representative: Susan Meier, Senior Vice
President & Human Resource Manager, Reliance Bank,
Altoona, Pa.
• Group 8 Representative: Jennifer M. Cloonan,
Government Relations Manager, FHLBank Pittsburgh,
Pittsburgh, Pa.
• Group 8 Representative: Jennifer A. Roxbury, Senior
Vice President & Chief Operating Officer, The Farmers
National Bank of Emlenton, Emlenton, Pa.
• Group 8 Representative: Rebecca Stapleton, Executive
Vice President, Human Resources & Employee
Communication, S&T Bank, Indiana, Pa. PBA
TECHNOLOGY TRENDS:
What’s Coming in the Next 5-7 Years?
ABOUT THE AUTHOR:
Jack Vonder Heide,
President, Technology
Briefing Centers, Inc.
Jack VonderHeide
is one of the nation’s
leading authorities
on technology and its
impact on American business.
* He will be speaking at the 2014 PBA
Annual Convention.
WHICH NEW TECHNOLOGIES WILL CHANGE BANKING AND WHICH WILL
PROVE TO BE NOTHING BUT HYPE?
There are several emerging trends
that could have a significant impact and banks should carefully monitor
them.
First, the cost of data storage has dropped exponentially during the
past decade and is predicted to drop at an even steeper rate over the next
few years. This means that banks should be able to store literally every
bit of information they have, indefinitely, at a very low cost.
Second, data analysis and logic tools are becoming more robust,
more intuitive and easier to use. Banks will be able to make practical
use of the data under their control without a lot of IT expertise. For
example, if a customer was coming in for a meeting, their banker could
request a two-page summary of the client’s background and banking
relationship and the report would be generated instantly.
Third, custom marketing tools will enable banks to promote the
exact services and products their customers need at the exact time
when they are most likely to buy. If a bank offered a zero percent teaser
rate on a credit card for 12 months and wanted to market the card to
existing customers who had credit cards with competing banks, a few
34
simple commands would set everything up. When an
existing customer went online to pay their monthly bill
for a competitor’s card, they would be displayed with
personalized information on how much money they
could save by transferring the balance to a new card.
Fourth, mobile payments will become more flexible.
Traditionally, when a business applies for a credit card
with the bank, a list of authorized users is provided and
each user is issued his or her own credit card. In the
future, customers will be able to authorize any employee
to make one-time charges on the company account. For
example, if a restaurant wanted to authorize a kitchen
worker to purchase dishwasher
detergent at a wholesale warehouse,
a QR code could be sent to the
employee’s smartphone. When
the employee arrived at the point
of sale, the QR code would be
scanned and a one-time charge to
the company’s account would be
authorized.
Fifth, new advances in
authentication technology will make
account takeover more difficult.
Voice recognition will enable a
mobile user to access an account by
repeating three random words that
the system generates. If the words
are spoken in the correct sequence
and the voice print matches what
the bank has on file, the customer
will be authenticated. Another
method allows the customer to use
a smartphone’s camera to take a
picture of their eye. The photo is
compared to the bank’s photo and,
if they are a match, account access is
granted.
These are just a few of the
promising technologies we can
expect to see during the coming
years. It is important for every bank
to plan a technology strategy that
provides outstanding customer
service while maintaining proper
cost controls. We are in for some
exciting times! PBA
IT IS IMPORTANT FOR
EVERY BANK TO PLAN A
TECHNOLOGY STRATEGY
THAT PROVIDES
OUTSTANDING CUSTOMER
SERVICE WHILE
MAINTAINING PROPER COST
CONTROLS. WE ARE IN FOR
SOME EXCITING TIMES!
APPI
energy
Member Benefits
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7YVJ\YLTLU[
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“Evaluating all of our options-from
aggregated pricing to fixed-pricing
from many reliable, competitive
suppliers-APPI Energy makes
customized recommendations in the
best interest of each of our locations.
We appreciate their thorough market
analysis and cost-reducing solutions.”
Maureen H. Beilman, CFO
4HE$IME"ANKs(ONESDALE0!
Pennsylvania Bankers
Association Member
>>>(770,5,9.@*64
35
Balance Sheet Management
in a World of Uncertainty
BALANCE SHEET MANAGEMENT IS DIFFICULT IN A WORLD OF
UNCERTAINTY, AND SINCE DECEMBER 2008 WE HAVE LIVED IN THAT
WORLD. SHORT-TERM INTEREST RATES ARE AT THE LOWEST LEVEL ON
RECORD.
ABOUT THE AUTHOR:
Jim Clarke, Ph.D.,
principal of Clarke
Consulting, Villanaova,
Pennsylvania Jim
can be reached at
[email protected]
*He will be speaking at the 2014 PBA
Annual Convention.
*This article is not intended to convey or
contain legal or investment advice and should
not be relied upon in regard to any particular
facts and circumstances without the advice of
investment counsel.
36
The federal fund rate can be tracked back to 1950 and in 64
years of history it has been below 2 percent three times: 1954, 2003
through June 2004, and 2008 through February 2014. It has been below
1percent only once: 2008 through 2014. At the short-end of the curve
we have never experienced this environment before 2008. The danger is
that bankers may be getting too complacent and beginning to view this
level of short-term rates as a new normal that could be with us for many
more years?
Long-term rates, using the long bond as the reference (ten year
Treasury) have also been at historic low levels. In the last 25 years the
long bond has averaged 5.15 percent. Since 2003 it has been below
5percent, but from 1989 to 2002 the 10 year averaged 6.6 percent.
Lest we get too comfortable with current rates and too complacent in
portfolio management take a longer view of history. Since 1945 the long
bond was above 2 percent every year until 2011 when it broke below 2
percent resulting from the S&P downgrade of U.S. Treasury securities.
The yield bottomed in July of 2012 at 1.43 percent. To experience this
environment one needs to go back to World War II. All bank portfolio
managers and ALCOs should reflect on this historical comparison
because we have never been here before. Also think about something
else: the Fed has never been here before.
We were long overdue for a wakeup call and in May 2013 we
finally experienced an abrupt signal of what the future could bring. On
April 30 2013 the long bond yielded 1.66 percent and by the first week
of January 2014 the yield broke 3 percent. What catastrophe caused
this dramatic change in rates? On May 1, Mr. Bernanke made some
comments related to unwinding QE3; on May 22 he did it again and in
July he repeated a potential plan to taper the bond purchase program.
This is all it took to move the long bond more than 130 basis points,
but more importantly an 81 percent increase.
Go back and look at the impact of this change on your bank’s
balance sheet. First the bad news, on April 30, 2013 most banks had
substantial capital gains in their investment portfolios and by year end
the portfolios showed capital loses. In April 2013 mortgage refinancing
continued to be robust. Banks that sold these loans were experiencing
good capital gains bolstering non-interest income and all of a sudden
the game ended as the 30-year mortgage rose above
4 percent. Thirdly, the yield curve steepened making
FHLB bank advance more expensive. But there was good
news, a steeper yield curve improved investment options
and a steeper yield curve has stabilized commercial loan
pricing. But whether the news is good or bad for your
bank the more important consideration is the overall
impact on balance sheet management driven by some
random chatter from the Chairman of the Fed.
Wakeup calls are valuable if they result in shaking
us out of complacency and get us to think about future
possibilities. The long bond averaged 5.15 percent over
the last 25 years and it current is 2.75 percent; therefore
if the rate would revert to the average the change would
be 88 percent. Try translating that into the losses in your
investment portfolio or more importantly the impact on
economic value of equity (EVE) in your interest rate risk
model. As serious as these changes would be to balance
sheet valuations, the more important issue may be the
impact on the income statement from a change in shortterm rates.
With respect to the federal funds rate the Fed
has framed the discussion around forward guidance.
Forward guidance was initially stated in terms of
dates, but in the 4th quarter of 2012 the Fed created
benchmarks as indicators of when the federal funds
rate would be increased. The initial metrics were based
on empoyment and inflation: an unemployment rate
below 6.5 percent or more than 2.5 percent inflation.
But as the unemployment rate approaches 6.5 percent
in the 1st quarter of 2014 it has become clear that
the Fed is lowering this guideline. The Fed policy
makers have obviously concluded that their definition
of unemployment is being impacted too much by the
decline in the labor force rather than the creation of jobs.
As we view the future from February 2014 it appears as
if the federal funds rate will not increase in 2014 and
based on most forecasters it looks more like late 2015 or
possibly 2016. One of the differences between long-term
rates and short-term rates is the Fed’s ability to control
rates. The bond market is bigger than Mr. Bernanke
as we found out in May 2013 so even the goals of a
relatively large bond purchasing program (QE3) can be
neutralized by bond traders. On the other hand the Fed
does have a good handle on short-term rates; therefore
we are not likely be surprised by a rate increase in 2014.
But do not get lulled to sleep, when the federal funds
rate is the lowest in history it will eventually increase.
FORWARD GUIDANCE WAS
INITIALLY STATED IN TERMS
OF DATES, BUT IN THE 4TH
QUARTER OF 2012 THE FED
CREATED BENCHMARKS
AS INDICATORS OF WHEN
THE FEDERAL FUNDS RATE
WOULD BE INCREASED.
Given this eventuality it is important to consider
the magnitude of the potential change. Over the last
25 years the average change in the federal funds in a
rising rate environment is 2.73 percent: this implies
a federal funds rate of approximately 3 percent based
on historical experience. But we have never started at
25 basis points. The last time the Fed raised rates was
2004 to 2006 and the rate went from 1percent to 5.25
percent or a 425 basis point change. The 2004 to 2006
experience is probably a better source of information
than twenty-five years of history based on the level of fed
funds at the beginning of the change in June 2004. Also
when the Fed did change rates in June 2004 the change
over two years was orderly: 25 basis points at every
meeting. If we repeat this formula the increase in rates
may be manageable, but there is no guarantee. Look at
a different scenario, from September 2007 to December
2008 the Fed dropped rates 500 basis points, but not
at 25 basis points a meeting. Bankers can handle a 25
basis points increase every six weeks, but our greatest
nightmare would be 50 to 75 basis points per meeting.
Under current regulation all banks are required
to conduct a stress test to determine their exposure to
market interest rates. A simulation model is engaged
quarterly to measure the exposure on the balance sheet
(EVE) and the income statement (NII). The results are
then compared to the policy limits set by the board. In
2010 the FFIEC sent a directive to all banks and Federal
credit unions reiterating modeling expectations. The
2010 directive upgraded the 1996 Joint Statement on
Interest Rate Risk. Vendors have upgraded their models
to address the new standards. It would appear banks
are in a better position today to accurately measure
exposure to rising interest rates. But all models depend
on assumptions, and assumptions very often depend on
historical experience. Therefore we need to be able to
CONTINUED ON PAGE 38f
37
Balance Sheet Management in a World of Uncertainty...CONTINUED FROM PAGE 37
back test our assumptions. But how reliable is back test
when we have never been here before?
For example, what is the prepayment speed of a 3.25
percent 30 year mortgage? How do you model a 3.25
percent coupon when there is no histroical benchmark?
How do model non maturity deposits when the last
historical benchmark is 2004 to 2006? These question
concerns our products and our customers. Have we
introduced new deposit products since 2006? High
interest checking, a product a number of banks use was
introduced in 2007. How will it respond in a rising
rate environment? Your guess or assumption is as good
as mine. Has customer behavior changed? By simply
looking at the shifting of deposits from certificates to
core deposits since 2007 may give you a hint of possibly
behavioral change. Has the customer changed? Bank
deposits increased $2.5 trillion since 2008 with much
of this money coming from investment companies. Do
these customers behavior the same as traditional bank
customers? These are some of the questions to ponder as
you examine your modeling results.
The point is that the world of banking has change
38
significantly since 2005 and it is very difficult to validate
assumptions when there is little historical precedence.
Given the level of uncertainty discussed throughout the
article I would offer a few suggests for managing the
balance sheet in 2014.
1. Hope for the best, plan for the worst. Most banks
can handle a 100 to 200 basis point increase in shortterm interest rates. Therefore focus on the impact of a
300 to 400 basis points change. If you have the ability
to manipulate the modeling assumptions, increase the
sensitivity of deposits for rate changes greater than 200
basis points.
2. Err on the side of conservatism. Modeling is not
perfect science; therefore do not expect 100 percent
accuracy. Assumptions are the devil in the details: Bias
deposit assumptions towards higher sensitivity (higher
betas). You are better off over estimating the impact on
financial statements than under estimating.
3. Long-term interest rates have been at historic lows
and many banks have been originating and retaining
long term fixed rate mortgages, ten year commercial
loans, and longer duration investments. End this
behavior in 2014: pay attention to
asset duration even if you need to
give up yield. This strategy cannot
reverse the decisions made in 2011
through 2013, but with a little bit of
luck rates may not increase until 2016
and disciplined strategies to shorten
duration will pay dividends in the long
run.
4. Lengthening liability may be a
good strategy in 2014. The FHLBank
advance line has steepened making it
more costly to lengthen duration, but
giving up some earning to lower future
risk may pay dividends in 2017 and
2018.
Looking back on recent history
provides some perspective on
the possibility of a different rate
environment. In September 2007, the
federal funds rate was 5.25 percent and
the long bond was above 5 percent. Is it
possible to repeat this scenario in 2015
or 2016? Of course it is: be prepared. PBA
PBA Bank Robbery
Matching Reward Program
BACKGROUND
In 2005, the PBA Board of Directors approved
the creation of a Robbery Reward Program. The
rewards would be made to established crime
prevention programs to further their efforts to
apprehend bank robbers.
PURPOSE
The respective members of the Security Fraud
Committee, who are already geographically
located in the PBA Groups around the state,
would present or report to the Committee such
bank robbery matters that fit a profile generally
represented below at the Committee’s regularly
scheduled conference calls or meetings.
As Committee members are approached or
solicited in these more serious robbery matters
where there is already an effort in place to
solicit contributions for a robbery reward
such as a county Crime Stoppers program, the
Committee will evaluate the possibility of a PBA
contribution to a local reward program. A PBA
contribution will not be made to individual
banks.
Guidelines for PBA’s Security/Fraud Committee Consideration in Determining
PBA Participation in Robbery Reward Programs
FUNDING
Contributions are made in accordance with
guidelines established by the Security/Fraud
Committee and a requirement that the
requesting financial institution must at least
match the Association’s contribution.
Projected funds not used in a PBA fiscal year will
not be carried over to the next PBA fiscal year.
ADMINISTRATION
The requesting financial institution must present
the scenario and a reward solicitation proposal at
a regularly scheduled meeting of PBA’s Security/
Fraud Committee. However, should a request
be made that needs immediate attention, an
email notification to the Committee members
will be sent.
The contribution will be drawn on a PBA
account that is funded internally as deemed
appropriate by the PBA.
The PBA Security Fraud Committee would
consider, as outlined above, providing a
contribution to the reward fund offered by local/
county groups for robberies involving :
1) Injuries or Violence: When a bank
employee, customer or law enforcement is
injured. This would include situations whereby
the employees or customers are pushed, kicked,
stepped on or otherwise abused in some manner.
2)Weapons: Displaying, brandishing,
discharging. Particularly automatic weapons.
3) Serial Robbers: Including note passers.
If you are interested in obtaining more
information or wish to propose a reward
solicitation to the Committee, please contact
(717) 255-6910.
Economic Forcast Summit
Wrap Up
PBA AND PA CHAMBER
HOSTED 2014 ECONOMIC
FORECAST SUMMIT
With so much attention centered on the status of the
economic recovery, here in Pennsylvania and at the national
level, the Pennsylvania Bankers Association (PBA) and the
Pennsylvania Chamber of Business and Industry hosted
their second annual Economic Forecast Summit on Tuesday,
Feb. 25 at the Sheraton Harrisburg-Hershey. Leading this
year’s discussion was Gov. Tom Corbett, who offered his
administration’s perspective on the state’s existing economic
challenges and new opportunities to grow the economy.
“Coming out of the recession, there is still a sense of
caution among employers and investors. The signs of
recovery are certainly there, but everyone is looking for
further signs of reassurance,” said PBA President and CEO
Duncan Campbell. “With the panel of experts this year, we
hope their unique perspectives provided attendees with the
information they need to help them move forward and grow
our economy.”
In addition to the governor, the event featured a panel
of economic experts whose perspectives on public policy
decisions and the nation’s financial outlook provided a
blueprint of what businesses can expect in the coming years.
The guests included: Ron Insana, Senior Analyst, CNBC
Financial Expert; Jack Vonder Heide, President, Technology
Briefing Centers, Inc.; and Dr. Martin Regalia, Senior Vice
President for Tax & Economic Policy and Chief Economist,
U.S. Chamber of Commerce.
“Employers throughout the state are committed to
strengthening their business and taking advantage of new
opportunities. To do so effectively, they need to be focused
on a broader long-term economic picture, both here in the
Commonwealth and at the national level,” said PA Chamber
President and CEO Gene Barr. “This event offered key
insight that detailed what we can expect and what can be
done to make our state a better home for business.”
The summit also included a presentation of the inaugural
Alan Walker Award for Public-Private Partnership by
the state Department of Community and Economic
Development.
Next year the Summit will take place on February 24 at
PB
the
40 Sheraton, Harrisburg-Hershey. A
(Above): J. Duncan Campbell III, President & CEO,
PA Bankers Association.
(Above): Martin Regalia, Chief Economist,
U.S. Chamber of Commerce.
(Above): Tom Corbett, Governor.
(Above): Ron Insana,Vol.
CNBC.
16.2 • March-April 2014
2014 PA Banking Sector Outlook –
an Advisor’s Viewpoint
AS AN INVESTMENT BANKER, I HAVE THE PRIVILEGE OF TRAVELING
AROUND THE STATE ON A REGULAR BASIS, VISITING WITH CEO’S,
ABOUT THE AUTHOR:
Mark McCollom is
a senior member of
Griffin’s Financial
Institutions Group where
he provides merger and
acquisition advisory,
capital formation and
strategic alternative
services to bank executives, directors,
stockholders and investors. Calling on his
more than 20 years of experience as a senior
financial executive in the banking industry,
Mark works with both major and regional
banks and thrifts, specialty lenders and asset
managers.
Over the course of his career, Mark has
coordinated the financial and operational
aspects of more than 50 transactions,
including mergers, acquisitions, asset
sales, sale/leasebacks and debt and equity
financings, with a combined transaction
value in excess of $20 billion.
Prior to joining Griffin, Mark was Chief
Financial Officer for Sovereign Bancorp, Inc.
and Sovereign Bank, a financial institution
with approximately $90 billion in assets
and 12,000 team members with principal
markets in the northeast United States.
Mark is a member of the American
Institute of Certified Public Accountants and
the Pennsylvania Institute of Certified Public
Accountants. He is also a frequent speaker
at banking industry conferences across the
country. He serves in a leadership capacity in
several nonprofit organizations.
*He will be speaking at the 2014 PBA
Annual Convention.
CFO’S AND BOARDS OF DIRECTORS OF MANY OF PENNSYLVANIA’S
200 PLUS FINANCIAL INSTITUTIONS.
My comments below represent a
composite of what we are hearing from you with respect to the operating
environment for 2014, as well as our own perspectives on mergers &
acquisitions activity and the capital markets outlook for community
banks for the balance of the year.
OPERATING ENVIRONMENT
How about some good news first? After years of slow grinding, asset
quality has dissipated as the top-of-mind issue for all but a handful of PA
banks. Profit gains in 2013 for many banks were driven by reductions
in loss provisioning, and we expect continued steady improvements to
credit throughout 2014.
Topline revenue growth, particularly the ability to generate quality
earning assets, has become the area of focus for most banks across the
Commonwealth. And, while 2013 median loan growth of 5.5 percent
was stronger than the prior four years’ average growth rate of around
3.4 percent, it is still below where banks believe they need to be in order
to have sustainable profitability. While the end of the “taper” in late
2014 may trigger rate increases in 2015, we do not believe this will be
the panacea many are hoping for (hope is always a dangerous business
strategy). Our research shows that the 25-year trend line for bank net
interest margins is a decline of 3-5 bps per year on average, regardless of
where we are in an interest rate cycle.
Earning asset pressures and continued challenges on compliance
costs will create more “separation” between successful banks and those
who are operationally challenged. Banks with excess capital should
strongly consider strategic deployment (share repurchases, M&A) as
a means to alleviate ROE pressures. Banks that can show strong asset
growth and maintain strong operating efficiency (either through size and
scale, or good, old-fashioned belt tightening) can continue to thrive in
2014 and beyond
CAPITAL MARKETS
In general, banks with market capitalizations greater than
$100 million had have a great two year run. For 2014, these larger
community (or small regionals) may still have decent upside, but it will
41
2014 PA Banking Sector Outlook – an Advisor’s Viewpoint...CONTINUED FROM PAGE 41
be episodic and company driven as opposed to the “high
tide” effect we have seen on the sector the past two years.
For smaller community banks, we are seeing more
institutional interest, even for banks as small as $200
million in assets. Smaller check sizes are becoming more
common as well. Investors still place a premium on a
growth-oriented story and strong management, among
other factors.
MERGERS & ACQUISITIONS
2013 saw six deals, or roughly 3 percent of PA’s
banks electing to merge or be acquired by a larger
entity. This is consistent with a 20 plus year trend,
where approximately 3-4.5 percent of the banks across
the United States tend to be merged away each year.
However, with the exception of Bank of Bird-in-Hand
(go PA!) new charters are not being granted, so the
current net rate of decline feels higher than in the past.
The aforementioned business pressures and the
42
recent lift in buyer currencies create two of the necessary
ingredients for increased M & A. (Note - the median
price for PA banks greater than $1.0 billion in assets is
around 151 percent of TBV, which is higher than the
recent P/TBV for M & A deals in the Mid-Atlantic
region of 130 percent). The wildcard for whether
activity picks up from its current pace is boardroom
sentiment. Director education and an honest and open
review of your strategic alternatives on a periodic basis
are healthy exercises for any public company to consider.
We hope you will join us at the PBA’s Annual
Convention in May, where I will be moderating the
Investment Banking Panel on Friday, May 16 at 7:30 a.m..
I will be joined this year by Emmett Daly from Sandler
O’Neill, Chad Hull from Boenning & Scattergood, and
David Lazar from KBW, and we will expand on many of
the topics discussed in this article. We all look forward to
seeing you in sunny and warm Naples! PBA
2014 M&A AND CAPITAL
RAISING SEMINAR JUNE 11
HERSHEY COUNTRY CLUB, HERSHEY, PA
7:30 - 8:15 am
SEMINAR 8:15 - 12 pm
LUNCH 12 pm - 1 pm
GOLF 1:15 - 5:45 pm
M&A Forecast
Successfully Navigating the Regulatory Process
Capital Raising
Acquisition of Non-Depository Institutions
Accounting for Acquisitions
BYBEL RUTLEDGE LLP
For more information, contact:
[email protected] or call 717.731.1700
F O C U S
O N
S O L U T I O N S
Hidden problem
loans can lead to
big expenses.
SNL Banker provides tools
to help you minimize surprise
foreclosures for a stronger
balance sheet.
Collateral Concentration Report
$2.5M
$5M
$75k in carrying
loan
foreclosed property
costs for 6 months
+
6% or $300k
$375k
in REO costs
in total costs
Banks today face a growing number of
high-risk loans that are hard to identify.
A single REO transaction can put an unexpected
expected blemish on your balance
sheet and result in hundreds of thousands of dollars in carrying costs and
foreclosure expenses.
›
Credit Quality Dashboard
Pennsylvania Bankers Association members: Learn more about managing your
bank’s NPAs. Contact Julie Jones at 434.951.4419; [email protected].
43
Is Your Bank’s Reputation
Defined on Google?
THE SIMPLE ANSWER IS YES. THE INTERNET IS NO RESPECTER OF
SERVICE, PRODUCT, OR EXECUTIVE POSITION.
ABOUT THE AUTHOR:
Anne Deeter Gallaher
is CEO/Owner of
Deeter Gallaher Group
LLC, a marketing and
PR firm headquartered
in Mechanicsburg, PA.
She can be easily found
on Twitter at @AnneDGallaher or via
email at [email protected].
For more steps on how to build a
strong online reputation for your bank,
join Anne Deeter Gallaher on Thursday,
May 15, at 8:15 a.m. in Concurrent
Session B for “Is Your Bank’s Reputation
Defined on Google?”
*She will be speaking at the 2014 PBA
Annual Convention.
44
In 2014, you are who
Google says you are. Google searches for bank branches are surging at
a mind-numbing pace—up roughly 200 percent in the last six years,
according to TheFinancialBrand.com. And what appears on page 1 of
Google search are the most influential elements of your digital tattoo.
Every employee, company, and institution has a digital tattoo.
Identical to its ink counterpart, it’s fairly easy to acquire and painfully
difficult—almost impossible—to remove.
But the similarities end there. No one can apply an ink tattoo
without your knowledge; however, in the digital world, customers
are defining your bank’s tattoo every minute. Understanding the
social platforms, learning how to communicate on them, blending
traditional and digital marketing, and setting strategies to build online
communities are excellent reputation-building tools for financial
institutions.
Have you Googled your bank name lately? Regardless of the size
of your institution, what appears on page 1 is almost always owned
media—content created by you or your ad agency. You should be
monitoring your bank’s online reputation on a regular basis and
including top-level executives’ names in your Google Alerts as well.
It only takes one inappropriate comment or one dissatisfied customer
rant to expose your bank to a new kind of run—a loss of customers,
shareholder confidence, reputation, and community trust.
What’s the good news? Banks can participate and engage in twoway conversations with their customers and really showcase their value.
Most banks provide similar menus of services at fairly competitive rates.
So how do customers decide who to partner with? A quick glance at a
bank’s Facebook page shows me its brand personality, the people that
represent the bank, the level of responsiveness, and their community
support.
From a tweet or Facebook post, I can see that the CEO marched
in the Memorial Day parade; I can see that you have a new campaign
to support veterans returning to work; and I can see that you’ve been
tweeting safety information during Hurricane Sandy
or the Pax blizzard in the Northeast. Are any of these
conversations related to your lending rates? No, but
when I see the compelling stories of your investment
in our community, I am encouraged to bank with you
because I feel you care.
A popular rebuttal to online engagement begins
with a statement that Facebook is fading. Facebook has
1.11 billion users—fading to where? Facebook remains
the dominant social networking platform, and according
to Pew Research Center (February 2014), adult
Facebook use is intensifying. Chances are high that most
of your customers have a presence on Facebook, Twitter,
YouTube, or LinkedIn. Checking into social media is
often the first thing Millennials do when they awake,
and the last thing they do before sleeping.
There is no business advantage to ignoring the
conversations on social media. In fact, to the consumer,
an absence on social media can demonstrate the
following:
1. Your institution is not technologically savvy. This
poses a serious concern since smartphones now
account for 64 percent of all mobile phones used
in the U.S. “It is looking like 2014 will be the
year that the human element of mobile banking
finally catches up with the technology,” according
to Bank Systems & Technology.
2. Your institution will be unable to protect its
reputation and respond to a crisis ahead of a news
cycle because you have no online community to
engage. You must build your community before
you need it;
3. Your institution is allowing other banks and
people to tell its story. If you don’t tell potential
customers what your bank is about, your
competitors will.
Warren Buffet said, “If you lose dollars for the
company, I will be understanding. If you lose reputation
for the firm I will be ruthless.”
To strengthen your bank’s reputation and build an
online community, here are some simple steps:
1. Be found. More than 90 percent of businesses
rely on Search for first knowledge. Produce good
content that your customers want, and you’ll be
ranked higher than your competitors.
2. Choose your channels wisely. Know where your
customers are and “Fish where the fish are.”
3. Build your narrative and show the emotional
side of banking. Parting with our hard-earned
money involves emotion. Numbers are important
to customers, but the narrative can be the critical
tipping point between choosing a lender, finding
a bank to grow with, and referring friends and
family. PBA
WARREN BUFFET
SAID, “IF YOU LOSE
DOLLARS FOR THE
COMPANY, I WILL BE
UNDERSTANDING.
IF YOU LOSE
REPUTATION FOR
THE FIRM I WILL BE
RUTHLESS.”
45
Let your voice
be heard !
(without revealing your identity)
By taking our survey you are providing anonymous feedback that will be used to hold
regulators accountable. More than 2000 bankers have already participated.
Take a stand. Take the survey.
Take the RFI survey at www.allbankers.org
*
*RFI = Regulatory Feedback Initiative
a proud member of
Time for Some Regulatory
Transparency
BANKS ARE PERHAPS THE MOST HEAVILY-REGULATED BUSINESSES IN
AMERICA.
ABOUT THE AUTHOR:
Robert A. Rupel, Past
Chairman of PBA,
ABA/PBA Direct
Contact Banker, Chair
of PBA’s Government
Relations Residential
Mortgage Lending
Advisory Committee and President &
CEO of Team Capital Bank, Bethlehem
PA
As just one example of the challenge we face, the regulations
implementing the new RESPA-TILA mortgage form total 1,888 pages.
In my forty-three years in banking, I have always respected the
power that bank regulators have over our industry. But as in any system,
checks and balances are important.
Like many of my colleagues, I am troubled by what I see in our
regulatory system. Regulators hold significant sway over every aspect of
our banks’ operations - from the smallest operational details to the very
survival of our banks. As a result, many bank and thrift executives feel
relatively powerless to push back against perceived regulatory over-reach
or supervisory inconsistency.
In an effort to improve regulatory transparency and accountability,
with assistance from the American Bankers Association, the Coalition of
State Bankers Associations created an electronic tool that we believe has
already improved the regulatory climate despite its short existence. We
call it the “Regulatory Feedback Initiative (RFI).”
The RFI consists of a confidential electronic platform where bankers
can anonymously provide details on their most recent examination or
visitation. The survey questions were reviewed by the regulatory agencies
and do not inappropriately divulge confidential supervisory information.
The information can be aggregated and analyzed on a national, district,
or state level, so ABA and the Coalition can identify disparities in how
bank regulations are being enforced. Such disparities might exist among
different bank agencies, geographic regions or even examiners within
the same agency. The timing of this Initiative could not have been better
given the avalanche of new regulations that has poured down on us.
In addition to inputting their exam experiences, our member banks
may request a report through the RFI that summarizes the feedback of
similarly-situated banks to help them prepare for an upcoming exam.
The goal is to avoid surprises, and if they occur, identify inconsistencies.
Bankers and our associations are now armed with statisticallysignificant data as we promote a better environment in which our
industry and its customers can flourish. This data is used to make our
case with the regulators as well as with Congress and the administration.
If the RFI is used by every bank after each examination or visitation,
every bank will have enough information to know whether it is receiving
unfair treatment or appropriate and consistent regulatory scrutiny.
47
Time for Some Regulatory Transparency...CONTINUED FROM PAGE 47
The survey is powered by Allegiance Inc., an
independent third party with a reputation and track
record of collecting anonymous and protected feedback
from bank customers and employees. This anonymity
allows banks to shed their isolation without violating
confidentiality or exposing themselves competitively.
Since its launch, the RFI has collected exam
information from over 2,000 banks. During April, we
are asking every bank that has not already completed a
survey on both its last safety and soundness exam and its
last compliance exam to do so, regardless of when your
last exam occurred.
PBA CEO Duncan Campbell will email our
member bank CEOs providing them more information
and a link to the RFI survey. The hyperlink is the only
way to access the confidential and anonymous survey.
After our month-long RFI awareness campaign
concludes, we ask each bank to incorporate the RFI
survey into its examination process and return to the
website to freshen its submission.
ABA and the Coalition of Bankers Associations has
met with representatives of the FDIC, OCC Federal
Reserve, and CSBS, and to their credit, the regulators
welcome the insights the RFI affords. They know their
job is getting more difficult and their processes are not
perfect.
We believe that an appropriate level of examination
transparency will add important checks and balances to
an otherwise one-sided regulatory process. Even a slight
shift in this balance could yield significant returns for
our communities and our member banks as we emerge
from the recent economic crisis and struggle to adapt to
the new regulatory challenges presented by the DoddFrank Act and its implementation by the regulators.
If you have any questions or concerns about
participating in the RFI, I would be glad to talk to you
about them as would PBA’s Duncan Campbell. PBA
Enrich Your Retirement Experience
with PBA’s Retired Banker Program
Times have changed and so has retirement. The Pennsylvania
Bankers Association’s Retired Banker Program helps you stay active,
engaged, and current with the industry even though you are retired
or semi-retired.
Membership in the Retired Bankers Program offers a unique way to
keep an open door to the industry where you have built your success
and made a difference. This program provides valuable benefits,
helps you keep up with professional and personal contacts and share
your insights and experience with those
whose careers are still in the making. For
more information, or to join for free, please
contact Cindy Wallett, (717) 255-6913,
[email protected].
48
BANK HEALTH CARE CONSORTIUM OF PA
28 BANKS
RECEIVED
CREDITS IN
SURPLUS OF
OVER 5.2 MILLION
DOLLARS IN 2013
WITH AN AVERAGE
NET FUNDING
INCREASE UNDER
5 PERCENT.
WHAT IS A CONSORTIUM?
A consortium is joining together for the advantages of economies of scale and cost efficiencies. Each member organization
can choose the benefit plan design and employee contribution structure that best suits its needs while paying its own rate.
The rates are based on the financial institution’s demographics and historical claims experience.
HOW WILL THE CONSORTIUM ASSIST MY ORGANIZATION?
• The consortium model is a vehicle to stabilize costs and cash flow for employee health benefits.
• It provides benefits design flexibility, enabling even small institutions to offer employees a customized benefit program.
• If health benefits claims cost less than the coverage funded, the institution may receive a credit for the surplus toward
the funding of future health care costs.
• The consortium model offers financial institutions protection from excessive costs in a year in which employees
experience high/shock medical claims.
THE CONSORTIUM CURRENTLY WORKS WITH THE FOLLOWING NETWORKS
Highmark Blue Shield (Central PA) • Aetna (Southeast PA)
• BCNEPA (Northeast PA) • Highmark Blue Shield and Blue Cross (Western Pennsylvania)
LEARN MORE ABOUT THE PROGRAM
If your institution is interested learning more about the consortium, contact:
Wayne Whipple - PBASC
Booker Moore - L.R. Webber Associates, Inc.
or
(717) 255-6925 • [email protected]
(814) 695-8066 x233 • [email protected]
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Security, Fraud and BSA
Training Materials
Charley Bitterman, (954) 327-1223
profi[email protected]
L.R. WEBBER ASSOCIATES, INC.
Multiple Medical, Drug, Dental &
Vision Options and EB Solutions
Brad Webber, (814) 695-8066
[email protected]
INVESTORS TITLE INSURANCE
COMPANY
Multi-Bank Owned Title
Insurance Program
Karen Brittain, (419) 577-5900
[email protected]
GLOBALVISION SYSTEMS, INC.
Anti-Money Laundering
Catherine Lew, (818) 998-7851, ext. 128
[email protected]
COMPLIANCE ALLIANCE
Quality Compliance Services
That Complement and Assist
Internal Compliance Personnel
Wayne Whipple, (717) 255-6925
[email protected]
AFFINION GROUP
Customer Appreciation Program,
and Value Added Retail Packages
Morgan Harris, (615) 764-2753
morgan.harris@affiniongroup.com
FORTREX TECHNOLOGIES
Vendor Risk Management System
Lisa Graham, (540) 575-7468
[email protected]
BITS
Managed Service Provider for Voice
and Data Communication
Christian Ericson, (973) 474-1828
[email protected]
FDI COLLATERAL MANAGEMENT
Electronic Lien Title Program
[email protected]
Financial Education Technology Platform
Andrew Dana, Dir. of Business Development
c: (202) 258-6832 w: (202) 625-0011 Ext 341
adana@everfi.com
Electricity and Natural
Gas Procurement Services
Jane Seagraves, (800) 520-6685
[email protected]
BANK
HEALTH CARE
CONSORTIUM
OF PA
BANK HEALTH CARE
CONSORTIUM OF PA
EVERFI
AFFILIATED POWER
PURCHASERS INT’L
28 banks received credits in surplus of over
$5.2 million in 2012 with an average net
funding increase in single digits
[email protected]
ACCUME PARTNERS
Outsourced Internal Auditing
and Risk Management Services
Jay Bowman, (484) 844-7132
[email protected]
EQUIAS ALLIANCE, LLC
Boli, Executive Compensation
and Long-Term Care
David Shoemaker, CPA/PFS, CFP®
(901) 754-4924
[email protected]
DELUXE
Check Program
Todd Wroblewski, (732) 625-5599
[email protected]
APPROVAL PAYMENT SOLUTIONS
ABA INSURANCE SERVICES
Merchant Processing
Todd J. Maple, (888) 311-7248 ext. 223
[email protected]
Bond, D&O, Internet Bank Liability
Insurance, and Employment
Practice Liability
Patricia Williams, (216) 220-1280
[email protected]
* Vendor selections and recommendations are made in accordance with PBASC’s stated mission. It is believed that the promoted products and
services merit strong consideration by PBA member banks. PBASC due diligence and selection criteria should not be construed as a guarantee, as
the ultimate appropriateness may vary from bank to bank. In addition, PBA member banks are encouraged to conduct their own due diligence
reviews of recommended vendors. Remuneration received by PBASC is utilized in-part to support the Pennsylvania Bankers Association through
contracted agreements, corporate sponsorships and overhead coverage. This financial support expands resources and strengthens the services and
programs of the PBA.
Are you SEARCHING for
QUALIFIED BANKING
PROFESSIONALS?
PBASC Career Center...
CONNECTING PROFESSIONALS
Many employers are discovering the advantages of searching online for qualified
candidates to fill their specific industry jobs. But when it comes to finding qualified
banking professionals, the mass-market approach of the mega job boards may not
be the best way to find exactly what you’re looking for. The PBASC Career Center
gives employers and job seeking professionals a better way to find one another and
make that perfect career fit.
EMPLOYER BENEFITS:
• Targeted Advertising Exposure -- reach a focused audience of industry professionals;
• Easy Online Job Listing Management;
• Resume Search Included with Job Posting;
• Automatic e-mail notification when job seekers match your criteria;
• Build Company Awareness -- list company information and link to your Web site; and
• Competitive Pricing -- package and high-member discounts available.
www.pbasc.com/careerCtr/careers.htm
PBASERVICES
CORPORATION
PROVIDES SAVINGS, SERVICE AND QUALIT Y
In response to the plea for help from banks across the Commonwealth and the Nation,
Compliance Alliance was formed to increase the effectiveness of banks’ compliance programs
and to facilitate broad industry initiatives directed at addressing a variety of compliance
functions for member banks and concerns of common interest. The primary goal of
Compliance Alliance is to provide quality compliance services and allow more hours for
the bank’s compliance personnel to focus on strategic bank-specific functions. For more
information contact Kimberly Ramberger, PBA Services Corporation (717) 255-6928.
YOU CANNOT PICK UP A FINANCIAL MAGAZINE, NEWSLETTER, OR
LISTEN TO NEWS SOURCES WITHOUT BEING LEAD TO BELIEVE THAT
THE COMMUNITY BANKS ARE IN IMMINENT DANGER OF BECOMING
EXTINCT.
ABOUT THE AUTHOR:
Scott Daugherty, President and General
Counsel, Compliance Alliance Inc.
Contact him, scott@compliancealliance.
com or (888) 353-3933.
*This article is for informational purposes and does
not contain or convey legal advice. The information
herein should not be used or relied upon in regard
to any particular facts or circumstances without first
consulting a lawyer.
We have all seen the reports and heard the so called
experts tell us that we are going to see a wave of mergers that will
eliminate twenty-five percent or more of the community banks in
the country.
As I read these publications and listen to different speakers I
tend to reflect on the strength of the community banks and the
communities they serve. Community banks have historically found
ways to survive all of the obstacles thrown at them. Whether those
obstacles are economic or regulatory, those challenges have always
been faced head on by the community bankers, and after the clouds
have cleared, the bank stands firm and strong. The pressures put
on the community banks by Dodd-Frank has led to the most
current rush to judgment causing all the rumors of sell, merge or
liquidate to survive.
The Federal Reserve Bank of Minneapolis attempted to
quantify the costs of implementing the Dodd-Frank requirements
by modeling the effect that hiring new compliance personnel has
on banks’ profitability. Naturally they found that “the impact on
profitability is most significant for the smallest banks.
Their analysis, “suggest that a large part of the labor cost of
complying with regulations is the time that bank officers and
managers devote to compliance activities, especially the time
devoted to complying with new regulations or major revisions
of regulations. The FRB also reports that the study revealed that
“compliance issues may also affect the customers of small banks.
Small banks, looking for ways of recouping the increases in fixed
costs, may, depending on the competitive landscape, pass these
costs on to customers in the form of limited product offerings and
53
PBASERVICES
CORPORATION
Compliance Alliance...CONTINUED FROM PAGE 53
higher prices for basic products and services. Regulatory
burdens, therefore, can result in harm to small bank
customers.”
These are the type of reports that have led the
media, regulators and unfortunately bankers to accept
that community banks can’t keep up with the new
regulations. I strongly disagree with this premise as I
know that the community banks can and will not only
survive but will thrive. The answer is not sale, merge
or liquidate. I hate to imagine what our communities
would be like without community banks.
Community banks have always been able to adapt
and thrive and this environment is no different. But we
must rethink how we tackle compliance. The old ways
54
of doing things are not sufficient or efficient. There is a
new way to do things that will allow community banks
to thrive in this environment and continue to serve their
customers and their communities as they have for more
than 100 years.
Think back to January 10, 2014. The ability
to repay/qualified mortgage rule became effective.
Not imagine what your compliance officer and the
compliance officer at every community bank in the
country did leading up to the effective date. Imagine
being tasked with the following:
• Read and understand the 800+ pages of the rule
• Develop a plan to deal with the rule
• Write a policy
PBASERVICES
• Write procedures for the bank to follow
• Develop training for bank staff and conduct the
training
• Develop ways to track and monitor compliance
with the new rule
Where does the compliance officer find the time to
do this in addition to many tasks they are responsible for
everyday not to mention the many other new rules and
regulations that are coming out every month? It makes
no sense in this new regulatory environment for every
community bank to have staff that is doing the exact
same thing as their counterparts. Now close your eyes
(figuratively not literally) and imagine if, for just the
QM/Ability to Repay Rule, your compliance officer had
the following at their fingertips:
• Ability to Repay and Qualified Mortgage Rule
Summary
• QM Balloon Payment Exception Policy
• QM Small Creditor Exception Policy
• QM temporary Small Lender Exception Policy
• Mortgage Small Servicer Policy
• Consumer Real Estate Policy
• Mortgage Servicing Policy – small lender
• Mortgage Loan Officer Compensation Guidelines
Policy
• QM & HOEPA Points and Fees Cheat Sheet
• ATR QM Comparison Chart
• Small Creditor QM Flowchart
• Characteristics of a Loan Request Matrix
• Small creditor qualified mortgage checklist
• TILA Closed-end disclosure checklist
• Balloon QM checklist rural and underserved
creditor
• Balloon QM checklist small creditor
• Ability to repay checklist
• Ability to Repay Calculator
• General QM checklist
• Compliance Alliance QM and Appendix Q
webinar
• QM and appendix Q webinar audio recording
• Mortgage Tsunami webinar
• Qualified Mortgage Board Training
Imagine if for every new rule or regulation your
compliance officer had these kinds of tools at their
CORPORATION
THE CONSEQUENCES OF
COMPLIANCE COSTS ARE
REAL. COSTS ARE RISING,
ACCESS TO CAPITAL IS
LIMITED AND REVENUE
SOURCES ARE LIMITED. THE
LAST THING THAT OUR
BANKS NEED IS TO TRY AND
RECRUIT AND RETAIN EXTRA
PERSONNEL. WE HAVE THE
ANSWER FOR YOU...
disposal. Imagine if your compliance officer had a team
of bank attorneys, former regulators and compliance
experts at their disposal. Imagine if your compliance
officer had policies, procedures, checklists, worksheets,
cheat sheets, flow charts, training tools, risk assessments,
reviews, a compliance hotline, and many other tools at
their fingertips. Imagine if your compliance officer had
these tools at their disposal that would save many hours
of time every week not having to recreate the wheel for
these things.
At a time when our banks are, or may be having
a difficult time attracting qualified personnel (at an
affordable rate), most likely are aware that hiring or
recruiting at a time when regulatory changes are forcing
all banks to hire more compliance personnel, is very
difficult. We here at the TBA are keenly aware of the
difficulty our banks are having in this area and we
strongly believe that our communities cannot survive
without the financial and credit needs of its citizens,
business’ and governing bodies being met. We were so
concerned that we created a company that was built to
assist our bankers in meeting the requirements of the
governing regulations. The consequences of compliance
costs are real. Costs are rising, access to capital is limited
and revenue sources are limited. The last thing that
our banks need is to try and recruit and retain extra
personnel. We have the answer for you, your ally,
Compliance Alliance a TBA Company. PBA
55
SOMEONE IS MAKING MONEY
ON TITLE INSURANCE.
IT SHOULD BE YOU.
It’s like owning your own title insurance company, only better.
PBA Services Corporation – along with Investors Title Insurance
Company – will help you become part of a multi-bank owned
title insurance agency and share in the profits every time title
insurance is written. To learn more, simply
give us a call at (717) 255-6925 and we’ll
show you how your bank can earn noninterest income from title insurance.
FORMS INCLUDED!
PBA Services Corporation is proud to offer Compliance Solutions through
Are you tired of spending thousands of dollars and
countless hours purchasing and/or updating your
forms?
For many banks, updating forms comes with a $1,000 a year price tag
along with the hassle of ordering new forms each time there is a revision.
There is an easier way!
Included in your Compliance Alliance membership are more than 65 forms
that can be updated by simply downloading or printing the updated
version.
See the changes quickly and easily
We redline not only the forms, but each of the additional 400+ documents
available for download, as soon as they are revised so you can easily see
the changes that have been made and decide if your bank would like to
switch to the newer version.
Save time and money
In addition to saving your bank money and the headaches associated with
ordering new forms, you can download compliance documents from our
website and access our Compliance Specialists, Attorneys or Ex-Regulator.
Plus, you can have an unlimited number of users access our website.
What else is
included?
• Cliff Notes on New
Regulations
• Policy Templates
• Procedures
• Processes
• Action Plans
• Lending Matrices
• Compliance Hotline
(Phone, Live Chat and
Email)
• Cheatsheets
• Checklists
• Worksheets
• Calculators
• Compliance Calendar
• Risk Assessment Tools
• Tracking Tools
• Review of Advertising &
Marketing
• Evaluate new products
to ensure compliance
• Review Disclosures to
ensure compliance
• Training Tools
• Statutes
• Regulations
• Rules
• Compliance Newsletter
• Forms
• Webinars
Compliance isn’t just a line of business for Compliance Alliance, it is our sole focus. Banks can
depend on the Compliance Alliance team to efficiently help manage their compliance risk.
Contact us today!
Compliance Alliance, Inc. • 888-353-3933
LQIR#FRPSOLDQFHDOOLDQFHFRPZZZFRPSOLDQFHDOOLDQFHFRP
RU3%$6HUYLFHV&RUSRUDWLRQ
57
PBASERVICES
CORPORATION
Suffolk County National Bank—
A Commercial Bank Integrates
Community Messaging
FOUNDED IN 1890, SUFFOLK COUNTY NATIONAL BANK (SCNB) IS A
COMMUNITY BANK WITH BRANCHES AND REGIONAL COMMERCIAL
LENDING OFFICES SERVING LONG ISLAND, NEW YORK. While SCNB is
ABOUT THE AUTHOR:
Mitchell Goss, CPCU, VP of Sales
& Operations of Zero-In,
[email protected] or 888.260.7291
x125, or visit http://zero-in.com/pba.
INDEX TO ADVERTISERS
ABAIS ...................................................... Page 23
AIB Principles of Banking ........................
10
APPI Energy............................................. Page 35
Art Communication Systems, Inc.............
BC
Bank Health Care Consortium of PA ....... Page 49
Burns White ............................................. Page 5
Byble Rutledge ......................................... Page 43
The Coalition of Bankers Associations ..... Page 46
EquiasAlliance .......................................... Page 10
McFarland Business Systems..................... Page 38
Parente Beard, LLC .................................. Page 31
PBA Bank Robbery Reward Matching ..... Page 39
PBA Retired Banker Program ................... Page 48
PBASC Career Center .............................. Page 52
PNC ........................................................
IFC
Rhoads and Sinon .................................... Page 8
SNL Banker ............................................. Page 43
Snodgrass ................................................. Page 8
58
a commercial bank, focused on serving small and middle market businesses,
its relationship-based approach, and its long-term tradition of community
involvement are important to the Bank’s brand.
In addition to the Bank’s business banking communication that is
consistent across all markets, its corporate marketing team also retains the
element of “community” that each individual market expects from its local
community bank. SCNB’s service area incorporates densely populated markets
such as NYC suburban communities, rural farming communities on the North
Fork, and the oceanfront region known as “the Hamptons.” As such, SCNB
marketing initiatives need to be appropriate for a wide variety of neighborhoods
and communities.
One channel that enables the team to efficiently customize its client
messaging is a network of video screens, prominently displayed throughout
its branch offices. The communication strategy for this channel includes
support of current bank-wide advertising and other marketing initiatives;
communication of SCNB news, events, and information; and support of notfor-profit organizations that are community specific. The community-based
communication features local charity fundraisers, high school events, seminars,
conferences, and services. In any one week the bank may have an American
Heart Association fundraiser in one community, a high school play in another,
and a regional music festival that incorporates several branch markets.
An easy-to-use, web-based system allows corporate marketing to retain
control over all messaging, while also providing the flexibility for local
messaging appropriate for different communities within its network.
The system consists of pre-designed templates that allows end users to
update text and images. Content can be scheduled in advance to ensure timely
promotion and automatic removal so that content is never in jeopardy of being
outdated.
By providing community news that affects your customers’ friends,
families and neighbors, you connect with and engage them. This results in the
perception that the word “community,” in community bank, is not just a word,
but is part of the DNA of the organization that is genuinely integrated into the
local market. This makes good business sense. When your clients think about
their next business or consumer loan, they will think of your organization-one they know to be integral to the community that they live in, work in, and
value. PBA
PBACALENDAR
APRIL
Strategy to Accountability – How to Translate Your Strategy
to Ground Level Accountability
April 17 • PBA Office • Harrisburg
Group 3 Spring Summit
April 21 • Radisson Lackawanna Station • Scranton
April 22 • Sheraton Harrisburg Hershey • Harrisburg
April 23 • Williamsport Country Club • Williamsport
April 24 • Doylestown Country Club • Doylestown
Bankers Day at the Capitol
April 28 • Harrisburg Hilton • Harrisburg
MAY
Training the Credit Analyst
May 1 • PBA Office • Harrisburg
Advanced Commercial Lending
May 6-7 • PBA Office • Harrisburg
Annual Convention
May 14 -17 • The Ritz-Carlton, Naples • Naples, Florida
CFO Seminar
May 29 • PBA Office • Harrisburg
JUNE
School of Banking
June 1 - 5 • The Penn Stater • State College
School of Commercial Lending
June 1 - 5 • The Penn Stater • State College
Art of Leadership
June 10 - 11 • PBA Office • Harrisburg
JULY
Advanced School of Banking
July 20 - 25 • PBA Office • Harrisburg
2014-15 ASSOCIATION EVENTS
SEPTEMBER
Executive Leadership
September 11 - 12 • PBA Office • Harrisburg
Human Resources
September 17 • PBA Office • Harrisburg
Consumer Lending School
Art of Leadership
OCTOBER
Essentials of Commercial Lending
October 14-15 • PBA Office • Harrisburg
Wealth Management & Trust Conference & Exhibition
October 29-31• Hershey Lodge & Convention Center • Hershey
NOVEMBER
Real Estate Lending Compliance
November 4 -5 • Location TBD
Lending Conference
November 20- 21 • The Hotel Hershey • Hershey
DECEMBER
Lending to Small Businesses
December 2 • PBA Office • Harrisburg
December 4-5 • PBA Office • Harrisburg
2015
FEBRUARY
Economic Summit
February 24 • Sheraton Harrisburg Hershey • Harrisburg
MARCH
March 12-13 • PBA Office • Harrisburg
JUNE
June 4-5 • PBA Office • Harrisburg
59
paBanker
PRSRT STD
US POSTAGE
PAID
HARRISBURG PA
PERMIT #411

The Official Magazine of the Pennsylvania Bankers Association

Transcription

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