Community Banker articles from February 2003

Community Banker archives from February 2003

Mortgages: a cornerstone of community banking. (front matter).
February 1, 2003... Home loans are a cornerstone business for community banks--the largest category of assets for savings institutions and the fastest-growing for commercial banks, according to Federal Deposit Insurance Corp. data. That's why, for the second...

The five C's of community banking. (president's message).
February 1, 2003... "What is a community bank?" Since I have been in banking these past 23 years, that is a question I have been asked repeatedly. Since becoming president of ACB three years ago, that question has come with increasing frequency. It seems that...

First-time home purchases expected to aid private mortgage insurance growth. (nationwide news).(Brief Article)
February 1, 2003... The nation's largest private mortgage insurer is predicting a full decade of growth, due to continued increases in first-time home purchases. Curt Culver, president and chief executive of Mortgage Guaranty Insurance Corp. of Milwaukee,...

ACB urges White House to adopt interest as tax relief. (nationwide news).(America's Community Bankers)(Brief Article)
February 1, 2003... America's Community Bankers and the Independent Community Bankers Association in a joint statement applauded the Bush administration for proposing a tax relief package in January to stimulate the economy and help the American investor. The...

Trade groups join forces on consumer privacy. (nationwide news).(America's Community Bankers and the Independent Community Bankers of America )
February 1, 2003... In another joint statement, the two trade associations representing the nation's community banks have formed a Privacy Working Group to advance the interests of community bank customers. America's Community Bankers and the Independent...

President Bush signs flood zone lending bill. (nationwide news).(Brief Article)
February 1, 2003... President Bush signed the "National Flood Insurance Program Reauthorization Act of 2003" on January 13, allowing lenders to continue making mortgages in flood plains. ACB and other groups worked to ensure that Congress made reauthorization...

ACB Housing Partners Foundation 2002 sustaining fund. (nationwide news).
February 1, 2003... ACB Housing Partners Foundation fundraising efforts for local charities in the cities in which ACB holds its Annual Convention are now in their twelfth year. To strengthen the Foundation's program, funds have been solicited from Sustaining...

ACB aids Congressional bank leaders' campaigns. (nationwide news).(Brief Article)
February 1, 2003... The repercussions of the dramatic 2002 U.S. Congressional elections are still being felt, with newly elected leaders in both chambers and reshuffled committee assignments. COMPAC, ACB's political action committee, played an active and...

Perspectives on financial planning. (wealth).(Perspectives on how financial planning fits in at banks )
February 1, 2003... Understanding customers' financial needs, resources, and goals is second nature to community bankers, and that's why they find financial planning to be an appealing way to approach retail investment services. Community Banker recently asked...

Working with realtors and mortgage brokers: A balancing act for bankers.
February 1, 2003... As the refinancing boom starts to wind down, lenders will be looking for ways to prop up waning mortgage volume. Two resources they can tap into are their relationships with mortgage brokers and their relationships with real estate agents. ...

State-of-the-art mortgage centers intensify the competition.
February 1, 2003... In the battle for home loans, community banks face stiff competition from mortgage brokers and non-banks. And now many community also are facing competition from new loan production centers. Loan production offices at institutions such as...

Purchase programs thrive: at the Federal Home Loan Banks.
February 1, 2003... Almost five years after the Federal Home Loan Bank of Chicago began purchasing mortgages from its member banks, the 12 FHLBanks have collectively increased their mortgage portfolios to almost $50 billion, and appear to be on the verge of...

In good faith: helping customers understand the mortgage process. (Cover Story).
February 1, 2003... For many Americans, the purchase of a home will be the most important financial transaction of their lives. And as anyone who's gone through it knows, the mortgage application process can be both lengthy and confusing, particularly when it...

Community banks stocks: a look back, a look forward.
February 1, 2003... Can community bank and thrift stocks pull it off again? Last year, as in the previous two years, these stocks' strong performance was in vivid contrast to the anemic general market. Fresh challenges are in store this year, but the outlook...

Expedited small-business loans: a new tool for main street companies.
February 1, 2003... Many community banks across the nation consider small-business lending critical for maintaining market share and profitability in this time of economic uncertainty. In fact, 68 percent of the 429 community bankers responding to a November...

How to use embedded deposit options. (investment management).
February 1, 2003... Last month we talked about the value of the prepayment option that is "embedded" into every mortgage loan we write. This month we want to switch sides and look at the embedded options included in our deposit contracts. In a perfect world,...

Analysis tools help improve bank performance and value. (market maker).(Community bankers' use of Economic Value Added)
February 1, 2003... Economic Value Added, or EVA, has become a widely accepted tool in corporate finance and equity analysis. In recent years, community banks have begun to adopt this concept to improve their performance and core value, which then improves their...

A compliance almanac for 2003. (compliance review).
February 1, 2003... 2002 was a very busy year in the compliance arena because the agencies were required to draft regulations to implement the USA Patriot Act. Also, the Securities and Exchange Commission has begun to draft regulations implementing the Sarbanes...

Banks may be liable for employee actions under the fair credit reporting act. (legal briefs).
February 1, 2003... Several courts have considered whether an employer can be held liable under the Fair Credit Reporting Act (FCRA) when an employee, acting completely outside the scope of his employment, obtains a consumer report without a permissible purpose....

2003: the outlook for mortgages. (business solutions).
February 1, 2003... As the mortgage industry comes out from the two biggest years in history in terms of volume, it's still anyone's call what 2003 will look like. Will rates rise enough to slow down the refi market? Or will rates take another dive? Will the...

Web insurance sales are booming. (technology report).(Brief Article)
February 1, 2003... Last year, 19 percent of private customers shopped for their insurance online. This year, more customers are expected to research--and buy--insurance through the Internet. One company that is taking advantage of the boom is Financial...

Stamps and other advanced functions are key for future ATM growth. (technology report).(Brief Article)
February 1, 2003... Automated teller machines remain a critical channel For retail banks' distribution networks, because they offer broad penetration and high transaction volume. Yet the sheer number of ATMs combined with the ease of receiving cash back at certain...

Internet banking services can boost loyalty. (technology report).(Brief Article)
February 1, 2003... Mainstream users continue to flock to online banking, according to a study by the Online Banking Report. And, when done right, banks are finding that online banking can increase customer satisfaction, boost retention and improve profits,...

XBRL reports are coming soon to a bank near you. (technology report).(Steering committee has been formed to promote XBRL)(Brief Article)
February 1, 2003... A steering committee has been formed to promote XBRL, a new standared computer language. The group includes such financial, software and government powerhouses as Microsoft, Bank of America, the FDIC, and IBM. XBRL (Extensible Business...

Banks are ranked second in customer service. (surveys & trends).(Brief Article)
February 1, 2003... Americans say that banks provide the second-highest level of customer service among major service industries, according to a recent survey. Fenton, Mo.-based Maritz Research interviewed 997 randomly selected adults via telephone as part of...

Hiring of financial professionals expected to remain steady in 2003; increased business may spur growth. (surveys & trends).(Survey of Chief Financial Officers)(Brief Article)
February 1, 2003... American chief financial officers anticipate the hiring of accounting and other finance professionals to remain stable in the first quarter of 2003, according to a recent national poll. Results from interviews with 1,400 CFOs from a random...

More banks offer freebies to attract new customers. (surveys & trends).(Brief Article)
February 1, 2003... Many banks are returning to the "freebie" trend of past decades, according to NewGround Resources, an international design, build and branding firm for the financial services industry. A spokeswoman for NewGround said that even though banks...

Make your needs known in Washington. (chairman's corner).
February 1, 2003... The daily operations and bottom line of every community bank are affected by decisions made in Washington, D.C. That is why ACB'S advocacy on key policy issues is so important, and why your participation is vital. You have an opportunity...