Community Banker articles from May 2004

Community Banker archives from May 2004

Teamwork pays off for bankers.(front matter)
May 1, 2004... ATMs are expensive. Just one new machine can easily run a bank $30,000, and that doesn't include ongoing costs like maintenance, security upgrades, or ever-changing compliance concerns. Yet customers demand them, and seem increasingly...

Credit unions, GSEs and more: ACB's policy priorities for 2004.(chairman's corner)
May 1, 2004... Last year, the nation's banks paid more than $58 billion in taxes. This includes federal]y insured mutual institutions, which paid taxes of more than $868 million. What was the federal tax bill for credit unions? Zero. Nothing. Not a...

ACB builds home in the capital with Habitat for Humanity's 'Congress Building America' program.(acb news)
May 1, 2004... On March 25, representatives from America's Community Bankers, including President and CEO Diane Casey-Landry, worked alongside members of Congress to build a Habitat for Humanity Congress Building America house in Washington, D.C. ...

ACB Web site offers bankers a selection of Check 21 resources.(acb news)(Brief Article)
May 1, 2004... America's Community Bankers, as part of its ongoing commitment to helping members prepare for the Check Clearing for the 21st Century Act, has created a Check 21 resource center. Through the Web site, at www.Americas...

Reporter's notebook: operations, security and marketing in the big easy.(acb news)(Brief Article)
May 1, 2004... Almost 300 bankers, speakers and exhibitors traveled to New Orleans in March to take part in ACB's National Operations, Security and Technology Conference and National Sales and Marketing Conference. The two events were held concurrently at the...

ACB member named to FASB Small Business Committee.(acb news)(Financial Accounting Standards Board)(America's commuinity bankers)(Brief Article)
May 1, 2004... Darrel M. Posegate has been named to the new Small Business Advisory Committee of the Financial Accounting Standards Board. Posegate, executive vice president and chief financial officer of Home Federal Bank in Sioux Falls, S.D., will represent...

McKenna Cup is a big hit at Seminar for Presidents.(acb news)(Brief Article)
May 1, 2004... Thirty-four bankers and spouses turned out in February for the McKenna Cup golf tournament, held during America's Community Bankers' Seminar for Presidents in Tucson, Ariz. The winners were: Thomas Lyons, Fall River Five Cents Savings Bank,...

Notice to members.(ACB)(Brief Article)
May 1, 2004... Pursuant to ACB's Bylaws, the Board of Directors bas selected a Nominating Committee to consider candidates for director vacancies and officer positions. These vacancies will be filled at the business meeting held during the October 2004...

Drozdowski named VP for payments and tech policy.(Rob Drozdowski appointed)(Brief Article)
May 1, 2004... America's Community Bankers has announced the promotion of Rob Drozdowski to vice president for payments and technology policy. In his new role, Drozdowski will spearheaded ACB's increased involvement in cutting-edge legislative and regulatory...

Compliance corner: Federal Reserve issues Q&A on Check 21.(acb news)
May 1, 2004... The Check Clearing for the 21st Century Act, commonly know as Check 21, becomes effective Oct. 28. To help banks prepare, the Federal Reserve has posted a number of informative resources on its Web site. "As a leading payments provider, the...

Collegial approach is second nature to Castaneda, the new Federal Housing Finance Board chairman.(Alicia Castaneda)
May 1, 2004... Alicia Castaneda hit the ground running on her first day at the helm of the Federal Housing Finance Board, presiding over a board meeting and pledging to work with fellow directors and staff in the spirit of "cooperation and participation." ...

Yellen named head of San Francisco Fed.(Janet L. Yellen appointed)(Brief Article)
May 1, 2004... On June 14, Dr. Janet L. Yellen will become president and chief executive officer of the Federal Reserve Bank of San Francisco, according to George M. Scalise, chairman of the San Francisco Federal Reserve Bank's board of directors. The...

Jackson Sworn in as HUD secretary in April.(Department of Housing and Urban Development,Alphonso Jackson)(Brief Article)
May 1, 2004... Alphonso Jackson on April 1 became the 13th Secretary of the U.S. Department of Housing and Urban Development. He was sworn in a day after the Senate confirmed his nomination. Jackson had served as acting secretary since December 2003 when...

$50 bill gets a facelift.(nationwide news)(Brief Article)
May 1, 2004... The U.S. Treasury Department unveiled a new design for the $50 bill on April 26. Much like last year's revamped $20 bill, the new bill includes a variety of security features. It will be introduced into the currency later this year.

Boomers will fare better in retirement than parents.(nationwide news)(Brief Article)
May 1, 2004... A recent report reveals that baby boomers as a group have a better outlook for retirement than their parents did. On average, baby boomers are on track to have higher incomes in retirement than their parents and appear less likely to live...

Fed begins downsizing its check processing system.(Federal Reserve Board)(Brief Article)
May 1, 2004... With a nod to the rise of check images and the upcoming implementation of Check 21, the Federal Reserve is in the process of downsizing its check processing system. By the end of 2004, the Fed expects to have eliminated 13 check processing...

Relationships count in the windy city.(grass roots)
May 1, 2004... At Second Federal Savings and Loan Association, taking care of our customers and our community is our top priority. That's why it's important for us to associate ourselves with the people who are passing laws that affect the future of our...

Compensation and benefits: three competitive strategies.(of mutual interest)
May 1, 2004... There is a common misperception among financial institutions that mutuals can't compensate their executives and boards of directors as well as stock institutions. The theory is that they do not have the tools, i.e., the capital stock vehicle,...

Taking community banking's message to Capitol Hill.
May 1, 2004... Almost 250 members of America's Community Bankers gathered in Washington, D.C., in March to participate in ACB's annual Government Affairs Conference. The two-day conference featured guest speakers such as Treasury Secretary John Snow, House...

Community bank index outperforms NASDAQ composite, S&P 500 in first full quarter.
May 1, 2004... Investors gave a thumbs-up to community banks in the first quarter. The America's Community Bankers NASDAQ Index outperformed broad market indexes in its first full quarter of operation, posting a 4.03 percent total return for the three...

Interest is growing in interest-only mortgages.
May 1, 2004... While it might not be a new concept, the interest-only loan has seen a rebirth in popularity over the past few years. "They're really popular right now," said Jim DeBoth, president of interest.com, a mortgage market information source, based in...

Surcharge-free ATM networks are blooming everywhere.(Cover Story)
May 1, 2004... Madison Square Federal Savings Bank in Baltimore has three branches, 31 employees, and a fleet of 25,000 ATMs. Not its own ATMs, of course. As is typical of banks its size, the $109 million-asset mutual bank owns just a few of the...

Shifting focus: how today's popular products are changing marketing strategies and customer relationships.
May 1, 2004... With liquidity levels high and interest rates low, community banks are shifting their marketing focus away from traditional core offerings to today's more popular products. Gone are the days when banks threw most of their marketing muscle...

Three banks': strategies for tapping the retirement market.
May 1, 2004... Retirees are a huge and growing market for community banks. More than 35 million men and women age 65 or older live in the United States, according to 2000 data from the U.S. Census Bureau. And this market is only going to expand. Baby...

Callable agency bonds: making choices for your portfolio.(investment management)
May 1, 2004... When it comes to callable debt issued by the government-sponsored enterprises (agencies), community banks face a daunting array of choices. Each business day, a variety of structures are issued across the maturity spectrum with an assortment of...

Reverse mortgages can drive deposits and strengthen relationships.(business solutions)
May 1, 2004... How can a mortgage product help banks retain customers and increase deposits? While it may seem counterintuitive that a lending product could result in deposits, home equity conversion mortgages--commonly called reverse mortgages--can do...

Credit unions--the good, the bad and the taxable.(legal briefs)
May 1, 2004... There is a debate raging over whether credit unions should be taxed like community banks. The fact that credit unions are not taxed, while other types of financial service companies are, seems to many community banks to be an unfair business...

Debit cards surpass credit cards as most popular POS payment method.(technology report)(point of sale)
May 1, 2004... Consumers favor their debit cards over any other card they carry, according to a survey of 6,500 consumers by Edgar, Dunn & Company. "Nearly 40 percent of Americans say they prefer to grab their debit card out of their wallet when making a...

NACHA declares May to be Direct Deposit and Direct Payment month.(technology report)(Brief Article)
May 1, 2004... May has been designated National Direct Deposit and Direct Payment month by NACHA-The Electronic Payments Association, carrying on a tradition that began three years ago. Over the course of the month, NACHA will work with financial...

Conservative dressing is back, but did it ever leave?(surveys & trends)
May 1, 2004... In the 1990s, stories of wacky workplace wardrobes abounded. Accounts of offices full of pony-tailed, nose-ringed, t-shirt wearing Web pioneers were ubiquitous. Employers everywhere began to fear that their employees would ditch their...

One in four employees at risk of "financial disaster".(surveys & trends)(Brief Article)
May 1, 2004... In a recent survey, 27 percent of those polled said they were "one major setback away From financial disaster." Another 22 percent of the 700 employees surveyed described their financial situation as worse than last year, with less...

Consumers prefer one-stop shopping for financial needs.(surveys & trends)
May 1, 2004... People want to do more business with their primary banks, and are looking to their banks to make it worthwhile, according to a recent online poll. Nearly two-thirds of the 500 respondents said they would "prefer to have all of their...

Telling facts on ATMs.(automated teller machine)
May 1, 2004... Most Americans have an ATM card, and use it frequently. The automated teller machine has become an indispensable part of banking. The facts below provide a glimpse into the rise and proliferation of ATMs. In the Beginning >> Luther...