Community Banker articles from January 2003

Community Banker archives from January 2003

Untangling the Web. (front matter).(banking web sites)
January 1, 2003... Sorting through technology strategy is seldom an easy task for bankers, particularly when it comes to balancing services that are evolving at lightning speed against customer needs that are unfolding more subtly. Bank Web sites are a case...

Koch named by Innovator of the Year by American Banker. (nationwide news).(Charles John "Bud" Koch, chairman and chief executive officer of Charter One Financial)(Brief Article)
January 1, 2003... Charles John "Bud" Koch, chairman and chief executive officer of $39 billion-asset Charter One Financial, was hailed as Innovator of the Year at American Banker's Annual Banker of the Year Awards gala, held Dec. 5 in New York City. Koch is an...

Community bankers open NASDAQ Stock Exchange. (nationwide news).(Brief Article)
January 1, 2003... On Dec. 9, E. Lee Beard (center, right) and ACB President and Chief Executive Officer Diane M. Casey (right) opened the NASDAQ Stock Market in New York City. Beard, a former ACB chairman, is president and CEO of First Federal Bank in Hazleton,...

Fed appoints community bankers to Thrift Council. (nationwide news).(Brief Article)
January 1, 2003... The Federal Reserve Board has appointed seven community bankers--including six ACB members--to its Thrift Institutions Advisory Council. This council is a 12-member panel that meets with Fed officials three times a year to review key issues for...

ACB's 2002 Market Expo draws record crowds. (nationwide news).
January 1, 2003... There was standing room only on the Market Expo floor at America's Community Bankers' Annual Convention in November. More than 100 service providers offered their latest products, services and systems for improving community banks' performance....

Compliance corner: disclosure, acknowledgement and compliance rules for insurance consumer protection interagency responses to questions on the insurance sales practices regulation. (nationwide news).
January 1, 2003... Q: Many depository institutions do not solicit loan customers For credit insurance until after a loan application has been approved. We assume that if there is a period of time between the notification of the customer of the acceptance of the...

'Mystery shopping' can illuminate problems, opportunities in investment sales. (wealth).
January 1, 2003... Mystery shopping has long been used as a way for bank executives to get a glimpse of how their customers are treated, but in recent years many banks haven't shopped the investment products aisle. That could be a costly mistake, especially at a...

Opportunities and challenges in lending. (Jumbo Mortgages).
January 1, 2003... As housing prices rise, the number of mortgage loans over the $322,700 conforming limit is increasing. As a result, community banks are struggling to determine what opportunities and challenges lie ahead in this potentially lucrative area of...

Rewing up your Web site: a bankers' service guide for 2003. (Cover Story).(Cover Story)
January 1, 2003... The December 2002 issue of The Atlantic Monthly featured a column about the imagination's effect on consumer behavior. The article, entitled "Light Shows of the Mind," made the following assertion: "Anybody who watches people as they shop...

What do they mean for bankers? (Election Results).
January 1, 2003... When the 108th Congress convenes on Jan. 7, both the Senate and the House of Representatives will be under Republican control. The November election marked the first time since 1882 that a sitting president's political party gained a Senate...

Getting a handle on embedded options. (investment management).
January 1, 2003... Your balance sheet contains many 'embedded options." Every mortgage loan contract contains the option for the borrower to prepay at any time without penalty Most certificates of deposit have prior withdrawal options. Most balance sheets...

New laws force corporate governance changes for mutual banks, too. (of mutual interest).
January 1, 2003... In response to the crisis of confidence precipitated by the bankruptcy, civil and criminal proceedings involving, among others, Enron, WorldCom and Arthur Andersen, President Bush on July 30, 2002, signed into law the Sarbanes-Oxley Act. Partly...

Tax credits have financial institutions thinking about developing new markets. (legal briefs).
January 1, 2003... During the waning days of the Clinton administration, the Community Renewal Tax Relief Act of 2000 (the Act) was enacted to promote private investment in designated low-income communities. This legislation attracted little notice within banking...

ACB partners' credit card programs offer big returns for community banks. (business solutions).(America's Community Bankers)
January 1, 2003... Whether you are considering a credit card program for the first time or looking for new options for your existing program, it's a fact, a well-managed, actively marketed credit card program can be a big moneymaker, generating significant return...

Network intrusions and online fraud soar at community banks. (technology report).
January 1, 2003... The number of online attacks on companies continues to more than double each year, according to the Carnegie Mellon Software Institute. From 2000 to 2001 alone, the number of online security incidents skyrocketed 142 percent as would-be...

Trilegiant hires ex-con man to battle fraud. (technology report).(Frank W. Abagnale hired to help company add features to its PrivacyGuard product)(Brief Article)
January 1, 2003... Tired of the rising tide of losses stemming from consumer fraud, banks are taking a few unusual new tactics to deal with this growing epidemic. According to the U.S. Comptroller of the Currency, financial firms lost more than $19 billion...

Fannie, Freddie raise mortgage loan limits. (surveys & trends).(Brief Article)
January 1, 2003... Fannie Mae and Freddie Mac have raised their conforming loan limits to $322,700 for conventional single-family loans, up from $300,700, effective for deliveries after Jan. 1, 2003. The conforming limit on second liens will be $161,350. The...

Survey finds branch demand up, usage down. (Ahead of the Curve).(Brief Article)
January 1, 2003... While branch demand remains strong, consumers are going into them less frequently, according to a telephone survey released in December. Although about 80 percent of the 1,041 adults surveyed said they use bank branches to perform routine...

New $20 bill to begin circulation in fall 2003. (surveys & trends).(Brief Article)
January 1, 2003... The Department of the Treasury's Bureau of Engraving and Printing and the Federal Reserve Board recently announced plans to release the latest generation of redesigned notes. The newly designed currency bills, referred to as NexGen, will...

Data bank.(banking industry)(Brief Article)
January 1, 2003... banks Small, regional banks had an average annual profit increase over the past five years of 11.8 percent, versus 8.5 percent for the biggest banks (with assets over $200 billion). Banks hold $4.895 trillion in household and nonprofit...

New year, new priorities. (chairman's corner).(activity of America's Community Bankers)
January 1, 2003... A new year and a new Congress fill us with hope--and with a new sense of commitment to help your bank succeed. There is so much to be done on so many different levels that ACB has developed a strategic plan to guide us. The plan calls for a...