Community Banker articles from May 2003

Community Banker archives from May 2003

Knowledge: the best defense. (front matter).(Editorial)
May 1, 2003... As any banker knows, guarding your institution against intruders isn't as simple as it once was. Before the Internet era, the chief weapons in the bank protection arsenal were some cameras, lots of deadbolts, an alarm system, a thick...

ACB welcomes new members for 2003. (acb news).(America's Community Bankers)
May 1, 2003... Last year, America's Community Bankers gained a record 120 new members. And it looks like 2003 will be another great year. In the first three months alone, 38 new members have joined ACB. Why? Because despite overall industry consolidation,...

First-ever investor relations handbook for financial institutions published. (acb news).(from America's Community Bankers)(Brief Article)
May 1, 2003... In March, America's Community Bankers released the Investor Relations Handbook, a guide designed to help community banks achieve the maximum advantages of being publicly traded companies. This is the first such guide tailored specifically to...

FDIC and ACB join forces for financial literacy. (acb news).(Federal Deposit Insurance Corp., America's Community Bankers)(Brief Article)
May 1, 2003... On March 25, ACB and the Federal Deposit Insurance Corp. signed an agreement to jointly promote use of the FDIC's Money Smart financial education program to community banks. The Money Smart curriculum is comprised of 10 instructor-led...

ACB helps bankers reach out to military personnel. (acb news).(America's Community Bankers)(Brief Article)
May 1, 2003... For financial institutions looking for a way to support the U.S. military during the current mobilization, ACB has released the "United We Stand" brochures. Intended to be included with bank statements, the brochures will alert customers of the...

Compliance corner. (acb news).(Uniformed Services Employment and Reemployment Rights Act)
May 1, 2003... Under the Uniformed Services Employment and Reemployment Rights Act, individuals who are called up or volunteer for active duty are granted certain rights to return to their employment after the military service has ended. Originally titled the...

Consultant George Freibert dies at 59. (acb news).(Obituary)(Biography)
May 1, 2003... George L. Freibert, founder and chairman of Professional Bank Services Inc. of Louisville, Ky., died March 16 following a cerebral hemorrhage. He was 59. A former senior examiner with the Federal Deposit Insurance Corp., Freibert founded...

Reporter's notebook: ACB's Government Affairs and Mutual Community Bank Conference. (acb news).(America's Community Bankers)
May 1, 2003... Nearly 250 bankers from more than 38 states recently gathered in Washington, D.C., to make their views known to the country's top lawmakers and regulators. On March 10, kicking off the Government Affairs Conference, more than 80 bankers...

Seeking competitive edge, some small banks waive PMI. (nationwide news).(private mortgage insurance)
May 1, 2003... A full 83 percent of financial institutions require customers to pay for private mortgage insurance when borrowing more than 80 percent of a home's value, according to ACB's 2003 Real Estate Lending Survey. Why don't the remaining one in six...

Beginning in the fall, national "Do-Not-Call" law will limit telemarketing options. (nationwide news).
May 1, 2003... In March, following passage of the Do-Not-Call Implementation Act, the Federal Trade Commission received authority to begin development of a national "do-not-call" registry. The registry, which is not expected to be fully operational before...

HUD proposes new hybrid ARMS for FHA loans. (nationwide news).(Department of Housing and Urban Development, adjustable rate mortgages, Federal Housing Administration)(Brief Article)
May 1, 2003... In March, the Department of Housing and Urban Development announced that four additional hybrid, adjustable-rate mortgages may soon qualify as FHA-insured mortgages. Under the current proposal, starting Oct. 1, Ginnie Mae would offer a...

Mutual charters provide competitive advantages. (of mutual interest).
May 1, 2003... The chief executive officer of a publicly traded $700 million-asset thrift recently groused about mutuals only being good for disrupting his market by offering ridiculously low commercial real estate loan terms and absurdly high deposit rates...

Catching up with Frank Abagnale.(Interview)
May 1, 2003... Frank W. Abagnale knows fraud and forgery. And now the world knows him, thanks to "Catch Me If You Can," the recent movie based on his life story. It shows how Abagnale, between the ages of 16 and 21, wrote bad checks totaling $2.5 million and...

Washington bank shows small-town spirit through big-time achievements. (personal profiles).(First Federal Savings and Loan Association of Port Angeles)(Company Profile)
May 1, 2003... I am often met with confused or quizzical looks when I describe the location of our bank. First Federal Savings and Loan Association of Port Angeles makes its home on Washington state's North Olympic Peninsula, in the northwest corner of the...

By invitation only: Ohio Savings Bank's handpicked wholesale mortgage corps delivers big results.(Ohio Mortgage)
May 1, 2003... The wholesale mortgage unit of Ohio Savings Bank said goodbye to about 800 of its 2,000 brokers and correspondents last year. Even so, its annual mortgage volume rose by almost 70 percent to a record $21 billion, outpacing the 22 percent...

Tips for enhancing board performance.(includes related article)
May 1, 2003... Board performance has always been top of mind for bank executives. But given the recent rash of corporate scandals and regulatory changes, today's bankers are more aware than ever of the need for a highly effective board. Since the passage...

Securing your network: a service guide for bankers: hackers. Identity thieves. Cyberterrorists. Help!(Industry Overview)(Cover Story)
May 1, 2003... In February, a billion-asset Midwestern bank installed a temporary wireless network during the construction of a new headquarters. Within days of adding these devices, which were intended to connect its new and old buildings, a hacker rendered...

Glossary.(telecommunications and computer terms)(Glossary)
May 1, 2003... Firewall--a set of related programs, located at a network gateway server, that protects the resources of a private network from users from other networks. (The term also implies the security policy that is used with the programs.) This is a...

Getting into the trust business.(Industry Overview)
May 1, 2003... When executives at Ocean First Bank were weighing whether to get into the trust business a few years ago, directors warned them to expect four or five years of losses before the department would start generating a profit. The prognosis, it...

Ways to ladder investments in a changing economy. (investment management).
May 1, 2003... Many financial institutions today are in a predicament, with too much short-term cash in the investment portfolio. While too much cash does not normally worry a banker, today's reinvestment choices for this money seem to be either too low in...

Community banks look ahead to a new stock exchange regime. (legal briefs).(Bulletin Board Exchange)
May 1, 2003... The NASDAQ Stock Market may soon be phasing out the OTC Bulletin Board exchange system (OTCBB). Pending approval by the Securities and Exchange Commission, the NASDAQ will launch a new listed market in the fourth quarter of 2003 that is...

Putting management to the security test. (business solutions).
May 1, 2003... ACB Business Partners aligns with best-in-class companies to provide member-advantaged business solutions designed to enhance your bank's competitiveness and to improve your bottom line. The ACB/SecurePipe Alliance delivers managed security...

Proposed bill could make 'substitute checks' stronger, ease truncation process. (technology report).
May 1, 2003... A bill currently being considered by the House of Representatives could make check truncation easier for banks by strengthening the status of "substitute checks." The Check Clearing for the 21st Century Act (H.R. 1474), which was proposed...

Purchase of Cyber Security Insurance is on the rise. (technology report).(by financial institutions)
May 1, 2003... Spurred on by a recent swarm of highly publicized cyber attacks and the current geopolitical uncertainties, an increasing number of banks are looking to insure against cyber risks. Over the last four months, the Chubb Group of Insurance...

Biometric devices may help fight check fraud. (technology report).(Brief Article)
May 1, 2003... New biometric devices may soon loin in the fight against bank fraud. For example, several banks are currently testing Paycheck Secure, an electronic fingerprint scanning system that has the potential to protect against check fraud, according to...

No housing bubble seen by OFHEO panelists, despite some softening. (surveys & trends).(Office of Federal Housing Enterprise Oversight)(Brief Article)
May 1, 2003... The nation is unlikely to see a housing "bubble," but some of the fastest growing markets on the East and West Coasts may experience a fallback in prices. This was the consensus offered at a symposium of leading analysts and academics held in...

Charitable giving by foundations is declining. (surveys & trends).(Brief Article)
May 1, 2003... Grantmaking foundations in the United States donated approximately $30.3 billion in 2002, a slight drop from $30.5 billion in 2001, according to a report released March 31 by the Foundation Center. The 2002 level represented the first...

Tips for being a more effective corporate leader. (surveys & trends).(Brief Article)
May 1, 2003... Three out of five senior managers agree that corporate leaders are doing a good to excellent job, according to a recent survey. However, 36 percent of the 150 executives surveyed characterized leaders as merely doing a "fair" job, according to...

Many consumers buying annuities from banks. (surveys & trends).(Brief Article)
May 1, 2003... A little over a quarter of consumers have purchased an annuity from a financial institution, according to a recent telephone survey of 1,000 consumers. While most people are still purchasing individual annuities from insurance companies,...

Data bank.(miscellaneous financial facts)(Brief Article)
May 1, 2003... financial literacy Seventy-five percent of depository institution customers mistakenly believe their annuities are insured. About 90 percent of U.S. teens say they save some of their extra money. women in business Seventy...

ACB's policy priorities are shaping the future of community banking. (chairman's corner).(America's Community Bankers)
May 1, 2003... America's Community Bankers is fortunate to have dedicated bank members who give their time and talents to develop our policies and priorities. These active members make ACB a member-driven association. They shape the future of the industry....