Community Banker articles from April 2004

Community Banker archives from April 2004

Planning for success.(front matter)
April 1, 2004... The past few years have been an exhilarating time for the nation's community banks. Backed by year after year of unbelievable mortgage activity, banks have consistently set new records, only to break them. And Community Banker has been...

Focus on human capital is vital to a community bank's success.(chairman's corner)
April 1, 2004... Succession planning--the focus of this month's Community Banker cover story--is important to the future of our institutions and is the responsibility of every chief executive officer. Those who plan successfully make the most of our human...

ACB honored for achievements in corporate social responsibility.(ACB news)
April 1, 2004... America's Community Bankers has garnered two awards in an annual competition honoring socially responsible behavior by U.S. companies. In the annual Corporate Social Responsibility Awards competition, the publishers of PR News gave ACB the...

ACB conference takes bank stories to Wall Street.(ACB news)(Americas Community Bankers)
April 1, 2004... Executives from more than 20 community banks will present their stories to prospective investors at a forum hosted by America's Community Bankers in New York May 10-11. ACB's first-ever Community Bank Investor Conference will be held at...

16 financial services organizations team up to offer Check 21 guide.(ACB news)(Brief Article)
April 1, 2004... On March 11, in an effort to promote consistency in the industry, America's Community Bankers joined with 15 other financial services organizations to release a guide to the Check Clearing for the 21st Century Act, also known as Check 21. ...

Reporter's notebook: celebrating mutuality in the nation's capital.(ACB News)(Americas Community Bankers)
April 1, 2004... Praise, support and growth was the message of the day at America's Community Bankers' fifth annual Mutual Community Banking Conference, held March 8 in Washington, D.C. Dozens of bankers from across the country took part in the packed...

Scenes from the scene: a look at ACB's Government Affairs Conference.(nationwide news)(Americas Community Bankers)
April 1, 2004... In March, more than 200 bankers from across the country traveled to the nation's capital to participate in America's Community Bankers' annual Government Affairs Conference and to meet with their representatives in Congress. In photo essay...

Community comes first for First Shore Federal.(grass roots)
April 1, 2004... "In the community is where we get our new business." That was the lesson I learned from then-CEO of First Shore Federal Savings and Loan Association, Dave Rodgers, in 1985, when I joined the bank's staff. In my prior position as a...

Tips from the pros: effective investor presentations: what makes for a successful investor presentation? That's the question Community Banker editor Debra Cope recently put to four investor relations consultants. They offered practical tips and insights on what flies--and what flops--with investors.(market maker)
April 1, 2004... LYNN E. CASTEEL MANAGING DIRECTOR--INVESTOR RELATIONS PRACTICE TRAVERS COLLINS & CO. BUFFALO, N.Y. What does the investment community really want to hear in your presentation? How you plan to grow the size and profitability of...

Mutual funds: keeping them under the bank's roof.
April 1, 2004... Stewart Rose, a consultant who helps banks sell mutual funds and other investment products, marvels at the radio commercials he hears these days while driving to and from his Hingham, Mass., office. Right alongside the Dunkin' Donuts ads for...

Expecting the unexpected: how succession planning paid off for four banks.(Cover Story)
April 1, 2004... Fall River Five Cents Savings Bank didn't have a clear second in command when its president and chief executive officer died suddenly last June. The president, John J. McSweeney, had, however, told his board which of his top lieutenants was...

Choosing a core processor: one bank's approach.
April 1, 2004... choosing a core processing system is one of the most important technology decisions that community banks face. In many ways, the core processing system is the backbone on which all other technology decisions rest. And adding to the...

The 2003 tax rate cuts: big implications for community banks.
April 1, 2004... The lobs and Growth Tax Relief Reconciliation Act of 2003 decreased the top individual tax rates applied to capital gains, dividend income, and ordinary income, significantly altering the tax landscape for community banks and their...

Building on a solid foundation.(Special Report)(2004 real estate lending survey by America's Community Bankers)
April 1, 2004... At 98 pages, America's Community Bankers' 2004 Real Estate Lending Survey is a treasure trove of insights into the state of mortgage and real estate lending among depository institutions. Released in February, the 11th annual survey paints...

As refinancing wave recedes, all eyes are on staffing.(Special Report)
April 1, 2004... True or false: Layoffs are an inevitable consequence of declining mortgage volume. Increasingly, according to bank executives interviewed by Community Banker, the answer is False. Yes, lenders are taking a hard look at their staffing needs...

Automated underwriting is now business as usual.(Special Report)
April 1, 2004... Automated underwriting, now a decade old, has been the norm for the largest U.S. banks for years. And as ACB's 2004 Real Estate Lending Survey shows, it is fast becoming the standard among smaller banks as well. Sixty-eight percent of...

Bridging underwriting and loan origination systems offers challenges, payoffs.(Special Report)
April 1, 2004... More, better, faster. That's the technology mantra among mortgage lenders. ACB's 2004 Real Estate Lending Survey shows banks in the mortgage business increasingly are linking their automated underwriting systems with their origination...

In fixed-rate mortgage race, 15-year loans are gaining.(Special Report)
April 1, 2004... Move over, 30-year fixed-rate mortgages. Make room for your 15-year fixed-rate cousins. Participants in ACB's 2004 Real Estate Lending Survey said 32 percent of the loans they originated last year were 15-year fixed-rate products, just...

Home equity lending holds promise in 2004, bankers say.(Special Report)
April 1, 2004... Yogurt, raisin bran, and chicken weren't the only items on sale at a busy suburban supermarket in Alexandria, Va., the last weekend of February. "Home Equity Sale. This Saturday, February 28th and Sunday, February 29th, only," proclaimed...

Financial training programs are helping banks to build creditworthy borrowers.(Special Report)
April 1, 2004... New South Federal Savings Bank in Birmingham, Ala., is a relentless advocate for financial education in its community. Its executives will talk about credit and home ownership wherever they can gather people to listen. Like 48 percent of...

Embedded options offer banks higher upfront rewards, but limit control.(investment management)
April 1, 2004... Who's in charge of your portfolio? When I ask this question I'm not asking which of your officers or employees are running the portfolio. I'm asking if the bank is actually in charge of its own portfolio anymore--or if it has sold so many...

New guidance clarifies the spousal signature provisions of Reg. B.(compliance review)
April 1, 2004... In the face of misunderstanding by creditors and examiners alike, the Federal Deposit Insurance Corp. has issued a Financial Institution Letter (FIL) explaining the spousal signature provisions of Regulation B, the regulation that implements...

The "ABC'S" of BOLI: it's more than a funding mechanism.(business solutions)(Bank Owned Life Insurance)
April 1, 2004... Bank Owned Life Insurance (BOLI) programs offer community banks a way to support officer and director compensation plans. But BOLI is much more than a funding vehicle for non-qualified benefit plans. Traditionally, community bank BOLI...

Preparing for the next wave of fair lending enforcement and litigation.(legal briefs)
April 1, 2004... As this article goes to press, lenders around the country are focused on complying with the significant new reporting requirements under the Home Mortgage Disclosure Act, or HMDA, which went into effect Jan. 1. As lenders work through the...

Study: tech investments can pare cost of Sarbanes-Oxley compliance.(technology report)
April 1, 2004... The Sarbanes-Oxley Act of 2002 "does not specifically mandate investments in technology." However, "financial reporting is inextricably linked to information technology (IT) systems and hence the more stringent [Sarbanes-Oxley] financial...

Amended NACHA rule lets consumers 'opt out' of ARC.(technology report)(Brief Article)
April 1, 2004... In March, NACHA approved an amendment to the rules governing accounts receivable (ARC) payments that will require users to give consumers the right to "opt-out" of having their checks converted to electronic ACH debits. The new rule takes...

Banks can blend technologies to offer a better customer experience, bearing point survey says.(technology report)(Brief Article)
April 1, 2004... Implementing new technologies can provide a better customer experience, while ultimately helping banks cut costs, according to a report from Bearing Point and the Economist Intelligence Unit. When asked which CRM technologies would be most...

Managers face unique challenges when working outside their area of expertise.(surveys & trends)(Brief Article)
April 1, 2004... Should managers oversee projects for which they have limited experience? The answer is mixed, according to a survey released March 10 by Accountemps, a division of Robert Half International Inc., which is headquartered in Menlo Park,...

Serving the credit needs of small businesses is good business, says Hawke.(surveys & trends)(Brief Article)
April 1, 2004... Small businesses are the bedrock of our economy, according to Comptroller of the Currency John D. Hawke Jr. They "employ more than half of all private-sector workers" and "generate 60 percent to 80 percent of all net new jobs each year," Hawke...

Fed banks expand ACH service into Mexico.(surveys & trends)(FedACH International services)(Brief Article)
April 1, 2004... The Federal Reserve Banks have expanded FedACH International services into Mexico. Through this service, which offers credit payments from the United States to Mexico, U.S. financial institutions will be able to send automated clearinghouse...

Rewards may help boost check card use, says Visa.(surveys & trends)(Brief Article)
April 1, 2004... Do rewards tied to check card transactions increase card usage? According to Visa, the answer is yes. A Visa survey found that 82 percent of participants were interested in qualifying to win the amount of their purchases, and 59 percent...

Real estate roundup: a look back at 2003.(bank on it)
April 1, 2004... By any measure, 2003 was a phenomenal year for mortgage lending. Production was the highest on record, eclipsing a record-breaking 2002 by approximately 70 percent. Elsewhere in this issue, we take a closer look at the Findings of ACB's 2004...