Community Banker articles from October 2004

Community Banker archives from October 2004

Our success is your success.(front matter)(Editorial)
October 1, 2004... I've hired well over 100 banking journalists during my past 17 years as a financial editor. Most of them come fresh to the business of banking, and are skeptical of how they will ever find enough stories to keep themselves busy. Don't...

With the wind at our backs.(chairman's corner)
October 1, 2004... Many people don't know that I am an avid hobby boat enthusiast. Over the years, I have built 100 models of the great ships of World War I and II. It takes countless hours and intense focus to combine thousands of plastic parts and make...

Making a difference.(president's message)
October 1, 2004... You can make a difference. Some may say that is just a platitude. But in Washington, D.C., it is actually a fact. You can make a difference when you take the time to write your members of Congress, call them, write to their staff, or...

Allpoint's Network of 30,000 surcharge-free ATMs can help banks compete.(ACB news)
October 1, 2004... America's Community Bankers has joined with the Allpoint Network to provide community bank customers with access to the nation's largest surcharge-free network of automated teller machines. Through an exclusive partnership between ACB...

SN Servicing Corp. helps ACB members manage non-performing mortgage loans.(ACB news)(SN Servicing Corp.)(ACB Business Partners )(Brief Article)
October 1, 2004... SN Servicing Corp. has joined ACB Business Partners to offer ACB member banks a strategy for managing sub-performing, non-performing, and fee-simple real estate assets. "The partnership will focus on residential, commercial, or...

What's new in the federal guide.(ACB news)(Brief Article)
October 1, 2004... Bunning-Bereuter-Blumenauer Flood Insurance Reform Act of 2004 OCC, Fed, FDIC, and OTS Interim Rules * CRA Regulations Interagency Statements * Accepting Accounts From Foreign Governments, Foreign Embassies and Foreign...

Put savings associations, commercial banks on par under broker rule, SEC told.(ACB news)(Brief Article)
October 1, 2004... Any final rule implementing the Gramm-Leach-Bliley Act's changes to the Securities and Exchange Act of 1934 "must treat savings associations and savings banks on a parity with commercial banks," America's Community Bankers told the Securities...

Professional development: responding to the challenges of today's community bank.(ACB news)(Brief Article)(Illustration)
October 1, 2004... Executive & Strategic Issues Annual Convention, Market Expo & Directors' Forum Oct. 17-20, 2004 Community Bank Investor Conference Nov. 18-19, 2004 Winter Management...

ACB blasts NCUA push to loosen business lending rules for credit unions.(ACB news)(America's Community Bankers)(National Credit Union Administration)(Brief Article)
October 1, 2004... America's Community Bankers is exhorting the National Credit Union Administration to withdraw its proposed rule that would allow credit unions to make Small Business Administration guaranteed loans under SBA rules, instead of under the NCUA's...

New nickels celebrate Lewis and Clark bicentennial.(nationwide news)
October 1, 2004... For the first time in 66 years, the nickel has a new look--or four new looks, to be precise. Two new designs were released earlier this year, and the U.S. Mint has two more to be released in 2005. The nickels are a part of the Westward...

Credit scores for consumers with non-traditional credit histories.(nationwide news)
October 1, 2004... A new rating from Fair Isaac Corp., the company behind the FICO credit score, could help banks "confidently expand into previously untapped population segments," according to the firm. The new credit score, called the "FICO Expansion...

Comptroller of the Currency Jerry Hawke to retire.(nationwide news)
October 1, 2004... The Comptroller of the Currency, John D. "Jerry" Hawke Jr., has announced that he will retire from government service when his term expires on Oct. 13. In a letter to President Bush on Sept. 9, Hawke, 71, advised the president of his...

Chicago FHLBank names new president and CEO.(nationwide news)(Brief Article)
October 1, 2004... The Federal Home Loan Bank of Chicago named J. Mikesell "Mike" Thomas president and chief executive officer on Aug. 30. Thomas, 53, replaces Charles A. Huston, who had served as acting president since July 1, following the resignation of...

Serving community needs comes first for Mutual Community Savings Bank.(grass roots)
October 1, 2004... At Mutual Community Savings Bank in Durham, N.C, everything we do is about staying involved, staying active, and taking care of our community. The bank was founded in 1921 by a group of African-American businessmen, and has been serving...

A year of accomplishments for an innovative stock index.(market maker)
October 1, 2004... It was just 12 months ago--on Oct. 20, 2003--that America's Community Bankers and the NASDAQ Stock Market unveiled a new, representative stock index for community banks. William W. Zuppe--speaking on the day before he became ACB'S...

Thank you: America's Community Bankers extends a sincere thank you to all sponsors and exhibitors at this year's Annual Convention and Market Expo.(Illustration)
October 1, 2004... COMPANY BOOTH NUMBER America's Community Bankers 509 ACB Business Partners 611 Allpoint Network 803 Auto ARM, Inc. (a...

Bankers discuss, debate current FHLBank concerns at forum.
October 1, 2004... After a day and a half of discussion and debate at the Federal Home Loan Bank Forum on Current Issues, all five sponsoring organizations agreed that the event was a complete success. The event, held Sept. 14-15 in Washington, D.C., at the...

America's Community Bankers welcomes the following new members *.
October 1, 2004... MEMBERS 1ST SECURITY BANK OF WASHINGTON Mountlake Terrace, Wash. 1ST STATE BANK Saginaw, Mich. ADAMS CO-OPERATIVE BANK Adams, Mass. AFFINITY BANK OF PENNSYLVANIA Wyomissing, Pa. AMERICAN BANK OF TEXAS,...

High wire act: balancing technology outlays in an era of tight margins.
October 1, 2004... Northern Savings & Loan Co. in Elyria, Ohio, faces a predicament like many banks. On the one hand, the community bank frequently upgrades and adds new technology to remain competitive. Yet it also has to balance those costs in an environment of...

All in the family.
October 1, 2004... At age four, Rick Willetts III was named assistant to the president of Cooperative Bank in Wilmington, N.C. He had a small desk in front of his grandfather's where he was put to work: coloring. He was paid a quarter each time he came to the...

Building communities, one bank at a time.
October 1, 2004... "The bank's highest rewards may come from our direct community involvement." This line, from the Web site of Winter Hill Bank in Somerville, Mass., sums up a sentiment echoed by community banks across the country. There's more to being a...

What has really changed in the American boardroom?
October 1, 2004... A review of the last 18 months reveals many accomplishments in the world of corporate governance, yet there is much work still to be done. Companies listed on the U.S. exchanges have experienced more than a year under the Sarbanes-Oxley...

Blocking and tackling 101: building your commercial banking business takes careful market analysis and a grasp of the competition.(Commercial Banking Spotlight)
October 1, 2004... How can a community bank make a profitable entry into commercial banking or move up to the next level of this business? By studying its market, its competitors and itself, and then by organizing for success, says America's Community Bankers'...

Bridging the gap: integrating sales and risk management can yield higher quality business loan portfolios.(Commercial Banking Spotlight)
October 1, 2004... Ask the leader of any commercial financial institution, "What keeps you up at night?" and you'll likely hear a myriad of descriptions about the same core challenge--balancing the need to minimize risk with the need to sustain profitable growth....

Amid hurricanes and floods, a deluge of developments for lenders.
October 1, 2004... Amid one of the worst seasons of hurricanes and floods to hit Florida and other states, federal banking regulators have reiterated the need for financial relief for affected borrowers and policyholders. * The Office of the Comptroller of...

Deconstructing compensation.
October 1, 2004... Last year, financial institutions spent approximately $124 billion on salaries and benefits, according to the Federal Deposit Insurance Corp. This large chunk of cash accounted for 44 percent of all non-interest expenses at FDIC-insured...

It's the little things: a look at perks.
October 1, 2004... Gone are the days when the financial industry offered extravagant perks to attract the best and the brightest. Nowadays, perks are still offered to bank employees at all levels, but they are of the sort that offer real value to employees....

Compensating tellers: the face of banking.
October 1, 2004... Ask most bank customers about the people at their banks, and odds are, they won't mention the bank president or even the branch manager. Instead, they will talk about their favorite teller. "Our tellers are the most important people in the...

Commercial lending equals higher salaries for managers.
October 1, 2004... Commercial lenders topped other credit officers in the salary sweepstakes, commanding fatter paychecks than their counterparts in commercial real estate, mortgage, and consumer lending, according to America's Community Bankers' 2004...

Compliance officers' challenges outpace their pay hikes.
October 1, 2004... The job of the compliance officer is getting more demanding. While the position has always required balancing numerous regulations, compliance officers now have more plates to spin, and many of those plates have gotten hotter to handle. ...

'Paid time off' is gaining ground on traditional leave.
October 1, 2004... Taking time off from work is a basic security requirement in the banking business, so it is not surprising that America's Community Bankers' 2004 Compensation Survey found that all banks offer some type of paid leave for their employees. ...

ACB Associate Members--thanks for your support.(America's Community Bankers)(Illustration)
October 1, 2004... ACB Associate Members are committed to offering solutions to the many challenges facing community banks today. We appreciate their continued support of" America's Community Bankers and our members and recognize the value they bring to our...

A special thanks: to our ACB Housing Partners Foundation 2004 Sustaining Fund Partners.(ACB Housing Partners Foundation)(Illustration)
October 1, 2004... ACB Housing Partners Foundation fundraising efforts for local charities in the cities in which ACB holds its Annual Convention are now in their 14th year. To strengthen the foundation's program, funds have been solicited from Sustaining...

What path will your investments follow?(investment management)
October 1, 2004... I live in Florida, where hurricane warnings are a fact of life. When a storm threatens, information is vital, so we all flock to our televisions to check the projected path of the storm. This helps, but as good as current forecasting models...

Heightened director responsibilities in setting executive compensation.(legal briefs)
October 1, 2004... Recent legal decisions may have a significant impact on the process boards of directors follow in making executive compensation decisions. Earlier this year, in an article in the Harvard Business Review, Delaware Supreme Court Chief Justice...

New offerings from ACB Business Partners help members save money.(business solutions)(ACB Business Partners)
October 1, 2004... Community banking is a constantly evolving industry. And as a member driven organization, America's Community Bankers is committed to continually expanding to meet the business needs of our members. 2004 has been busy at ACB Business...

Getting staff and customers ready for Check 21.(technology report)
October 1, 2004... The Check 21 compliance date is closing in. Are banks doing enough to get ready? Community Banker spoke with two banks that are in the final stages of preparing for the Oct. 28 deadline. Here is what they had to say about preparing for...

FDIC Web site gets enhanced statistical capabilities, new EDIE.(Electronic Deposit Insurance Estimator)(Federal Deposit Insurance Corporation)
October 1, 2004... The Federal Deposit Insurance Corp. has added several new Features to its Web site, allowing banks to perform a multitude of new statistical functions. "We've expanded what banks can do within the peer group function," making it easier for...

Gift cards set to make a splash at banks.(technology report)
October 1, 2004... Banks made between $3 million and $5 million in sales from gift cards last year, said John Gould, director of the consumer lending and bank cards practice at TowerGroup. He added that banks should see strong double-digit percentage growth over...

Mortgage lenders are taking notice as roommates become co-homeowners.(surveys & trends)
October 1, 2004... When Matt Carter graduated from law school this spring, he knew that he wanted to settle down in Baltimore. His friend Eric Watts, a teacher, had the same goal. Both of the unattached twenty-something men also knew that they wanted to take...

The end is here? Refinance boom coming to a stop, according to Freddie Mac economist.(Ahead of the Curve)(Brief Article)
October 1, 2004... Economists have been predicting the end of the refinancing boom for about a year. Now it appears that rising interest rates are putting the brakes on volume. The Federal Reserve's latest quarter-point rate hike came Sept. 21. During the...

Survey: affordable housing is on the minds of voters.(surveys & trends)(Brief Article)
October 1, 2004... The lack of affordable housing in the United States is a "big problem" for 47 percent of Americans, according to a May 2004 survey by the National Association of Realtors. Two-thirds of the 1,000 respondents said they were so concerned...

Positive outlook.(surveys & trends)(Brief Article)(Illustration)
October 1, 2004... Positive Outlook Professionals were asked, "How optimistic do you feel about your career prospects today versus one year ago?" Neither more nor less optimistic 31% Somewhat less optimistic 8% Much less optimistic ...

Then & now.(Community Banker)(Illustration)
October 1, 2004... Community Banker is feeling nostalgic. What was the world--especially the world of banking--like 25 years ago? Join us as we take a stroll down memory lane. 1979 2004 "The Deer...