Community Banker articles from October 2003

Community Banker archives from October 2003

A call for action.(president's message)
October 1, 2003... Every now and then an issue arises in Washington, D.C., in which complacency and a wait-and-see attitude are absolutely the wrong approach. Delay is an invitation to be ignored in a rapidly changing world. And every now and then an issue...

Banking: a community affair.(front matter)
October 1, 2003... In this issue of Community Banker you'll find a recurring thread of growth and caring. This month's magazine addresses some of the year's central themes in community banking: branching, mortgages, community. It's difficult to imagine...

Opening doors through communication.(grass roots)
October 1, 2003... Keep your lines of communication open. While that may seem like a simple statement, it cuts right to the heart of any grass roots lobbying effort by a community bank. Ensuring a steady flow of information between a bank and local public...

Talking with Fannie Mae's Franklin Raines.(view from the top)
October 1, 2003... Franklin D. Raines sees a tremendous growth opportunity ahead for community bank mortgage lenders-if they are prepared to seize it. Fannie Mae's chairman and chief executive officer expects as much as $7 trillion in new mortgages to be...

ACB, Citigroup partner to offer pooled trust preferred securities program for community banks.(ACB news)
October 1, 2003... In September, ACB Business Partners signed an agreement with Citigroup to provide members of America's Community Bankers with a cost-effective way to raise capital through the issuance of pooled trust preferred securities. Under the...

New brochure eases customer ID compliance, forges improved customer relations.(ACB news)(Brief Article)
October 1, 2003... As part of the USA Patriot Act, financial institutions are required to notify customers that the institution will be requesting and verifying identifying information any time a new account is opened. A new brochure available from America's...

ACB names new SVP of membership and hires three staffers.(ACB news)
October 1, 2003... Ron Haynie has been named senior vice president for membership and sales to lead America's Community Bankers' nationwide membership program. Haynie can be reached directly at (202) 857-5580 or rkaynie@acbankers.org. "ACB is delighted to...

Community banks: a century of service.(ACB news)(Brief Article)
October 1, 2003... America's Community Bankers is proud to recognize the following members that celebrate a 100-year anniversary in 2003. Congratulations to: Bradford Bank, Baltimore Brookville Building & Savings Association, Brookville, Ohio ...

ACB petitions the Federal Election Commission to allow payroll deductions of campaign contributions.(ACB news)(Brief Article)
October 1, 2003... America's Community Bankers and COMPAC, ACB's political action committee, on Aug. 29 petitioned the Federal Election Commission to make it easier for certain individuals to make campaign contributions by using payroll deductions. The...

National School Year Book: congratulations to the 2003 graduates of ACB's National School of Banking.(ACB news)(Brief Article)
October 1, 2003... Special congratulations goes to this year's Chairman's Award winner. Ronald W. Nolting of People's Bank in Bridgeport, Conn., who received the award for demonstrated academic excellence and leadership. In addition, the Thomas A McGraph...

Where were you when the lights went out?(nationwide news)
October 1, 2003... Beginning just after 4 p.m. on Thursday, Aug. 23, a massive power outage swept across the northeastern region of North America. The blackout affected 50 million people in the United States and Canada. At least eight states and four major...

Frank Abagnale speaks out on financial fraud.(nationwide news)
October 1, 2003... From identity theft to forged checks, financial fraud is on the upswing in the United States. More and more Americans are becoming affected, and ever greater sums of money are being lost. To Frank Abagnale, the situation is one fraught with...

FTC reports surge in incidence of identity theft.(nationwide news)(Brief Article)
October 1, 2003... Over the last five years, over 27 million Americans had their identities stolen, with almost 10 million of these cases happening during the past year, according to a recent survey released by the Federal Trade Commission. The new...

Correction.(Nationwide News)(Brief Article)
October 1, 2003... In the September issue of Community Banker, the article "pulling the Plug on Money Laundering" (page 48) understated the customer asset range For Banker's Toolbox. The company s client banks range from $50 million to $8 billion.

Slimming down: branch expenses.
October 1, 2003... Benefits, salaries and space are some of the most costly items for any bank's retail branch operations. As a result, banks of all sizes are finding ways to slim down budgets, reduce losses, and work more efficiently. GreenPoint Bank in New...

Exploring the world of payments: trends and technology developments.
October 1, 2003... With the rise of the Internet and new electronic technologies, the financial services industry has experienced a sea change in the way it deals with payments, and further advances are on the way. While cash. paper checks and credit cards...

Seven tips from top mortgage lenders: stealing a page from the competition.
October 1, 2003... The Federal Reserve's interest rate slashing strategy has given lenders a big boost, but the nation's largest lenders aren't just watching the loans roll on in. They're busy making hay while the sun is shining and finding ways to cultivate...

Embracing the branch; new developments in strategy, staffing, security, technology, design and more.
October 1, 2003... It turned out to be little more than a dalliance-an intense infatuation that bloomed and faded with time. And when the affair was over, there was the old love, waiting patiently to be rediscovered and for romance to bloom again. We're...

Giving back: community bankers make a difference.(Brief Article)
October 1, 2003... There's more to being a community bank than lust banking. Across the United States, banks have found novel ways to give back in their communities. These initiatives range from fostering financial literacy programs and regional performing arts...

Rainier Pacific paints the town beautiful for Tacoma's elderly.
October 1, 2003... At Rainier Pacific Bank, in Tacoma, Wash., serving the community is about more than taking care of their banking needs. For over a decade, employees of the $531 million-asset ACB member institution have been rolling up their sleeves and...

Roadrunners set the pace for community involvement in Easton, Mass.
October 1, 2003... Every Thanksgiving Day nearly 300 Massachusetts residents brave New England's chill to run in the Oliver Ames Cross Country Boosters Tiger Turkey Chase. Last year, runners ranging from age nine to 75 sped through two inches of snow to...

Florida Savings Bank makes itself known with volunteerism.
October 1, 2003... At Florida Savings Bank in Pinecrest, giving back to the community is not only good for the local charities-it's also good for business. The $94 million-asset ACB member institution, which first opened its doors in April 1999 and graduated...

Wamu employees get involved nationally on a local scale.
October 1, 2003... At Washington Mutual, helping the community is a top priority. The $283 billion-asset ACB member, based ill Seattle, organizes and sponsors a variety of programs across the country each year, offering employees a chance to help out in their...

Bridgewater Savings looks to the future for today's children.
October 1, 2003... At Bridgewater Savings Bank in Massachusetts, giving back to the community starts with the children. The $245-million asset ACB member institution has an ongoing relationship with America's Promise-The Alliance for Youth. Developed by...

Kennebunk Savings uses a democratic approach for giving.
October 1, 2003... With all of the worthwhile charities out there, knowing how to allocate donations can be difficult. To help tackle this challenge, Kennebunk Savings Bank in Maine uses a democratic approach. Each year, the $510 million-asset ACB member...

Bankers make music in Troy, N.Y.
October 1, 2003... The city of Troy, in upstate New York, has something many small town residents only dream of-a world-class concert hall. Troy Savings Bank Music Hall opened on April 19, 1875, with a Grand Inauguration concert featuring the Symphony Orchestra...

South Shore Savings plays Santa Claus in South Weymouth.(Brief Article)
October 1, 2003... When John Boucher saw the three truckloads of presents last year. he realized the true scope of his bank's community involvement. "Every year. a small group of employees forms a committee around the holidays. They usually pick two or three...

Freshman for a day: a Community Banker staffer heads back to the classroom at ACB's National School of Banking.
October 1, 2003... With my backpack, textbooks, and pens in tow, I'm ready for my first day of class. This summer, I'm a freshman again at ACB's National School of Banking in Fairfield, Conn. The National School runs each summer in mid-July on a green-filled...

The choice between trust preferred and other preferred securities.(investment management)
October 1, 2003... The accounting and regulatory treatment of Trust Preferred Securities, or TPRs, has recently received new scrutiny- as a result of the recent adoption of two accounting pronouncements by the Financial Accounting Standards Board and the new...

2003 shaping up as a banner year for change.(compliance review)
October 1, 2003... Part of the challenge of working in highly regulated environment, such as financial services, is that there are periods of intense change followed by periods of relative quiet. In banking, the past two to three year, have been periods of...

Rising deal prices hint at M&A revival.(market maker)(Mergers and Acquisitions )
October 1, 2003... Nearly everyone has been anticipating a fresh upswing in consolidation activity among community banks. And there are many reasons for it to happen The most obvious argument for an upturn is the pressure built up from the dearth activity...

Community banks capitalize on bottom line solutions.(business solutions)(ACB Business Partners Inc.)(SecurePipe)
October 1, 2003... ACB Business Partners Inc., the business subsidiary of America's Community Bankers, uses the collective power of 1,200 members and $1 trillion in assets to negotiate advantaged business solutions for ACB members. Man: ACB members recoup their...

Customer identification requirements are unsettled as compliance date approaches.(legal briefs)
October 1, 2003... The Department of the Treasury and the federal financial regulator agencies jointly adopted final regulations to implement section 326 of the USA Patriot Act to require banks, thrifts and trust companies as well as other financial institutions...

Nation's top lenders look to new mortgage technology.(technology report)
October 1, 2003... As many as half of the nation's largest lender will move to new loan origination systems I the end of 2005 in efforts to automate the mortgage lending process, according to recent study by Celent Communications. "If ever a sector within...

Internet delivery of mortgage insurance speeds process.(technology reports)
October 1, 2003... The ability to close a mortgage loan quickly can be a major competitive advantage for community bank. To serve this need for speed, many private mortgage insurance providers offer, or are planning soon t offer, Internet delivery options. ...

Electronic bill consolidation on the rise, survey finds.(technology report)(Brief Article)
October 1, 2003... Although biller-direct delivery overwhelmingly dominates the online payments market, bill consolidation service providers may soon be getting a bigger piece of the pie, according to a recent report. The share of bills presented...

Ahead of the curve: bank IT spending expected to grow slowly.(technology report)(Brief Article)
October 1, 2003... Amid pressures to cut costs, information technology spending among commercial banks is expected to grow slowly over the next Four years, From $33.8 billion in 2003 to $38.2 billion in 2007, according to estimates released by TowerGroup in...

Purchasing used ATMs can save banks money.(technology report)(Automated Teller Machine )
October 1, 2003... For community banks that find the costs of obtaining and maintaining automated teller machines daunting, purchasing used ATMs may be an option worth consideration. A number of firms specialize in the refurbishment of old ATMs. A good...

Bank salaries rose 4.3% on average in 2002, says ACB compensation survey.(surveys & trends)(America's Community Bankers)
October 1, 2003... During 2002, overall bank employee staff salaries increased by an average of 4.3 percent, up from the average pay increases of 4 percent a year in the prior seven years, according to America's Community Bankers' 2003 Compensation Survey, which...

"Honor all cards" ruling doesn't stop interest in debit cards.(surveys & trends)
October 1, 2003... Undaunted by the fallout of the WalMart/Visa-MasterCard lawsuit, 62 percent of community banks are making a priority of establishing or expanding their debit card programs over the next three years, according to a survey by America's Community...

Making movements in Washington.(chairman's corner)
October 1, 2003... America's Community Bankers has taken on a wide range of issues and initiatives over the past 12 months that are vitally important to the well being of our institutions and our industry. We are shaping the future of community banking in...