Community Bankers Association of Illinois
Community Bankers Association of Illinois Community Bankers Association of Illinois Community Bankers Association of Illinois
 
      A Bi-Weekly News Bulletin for CBAI Members            February 27, 2008 Graphic
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Community Bankers Association of Illinois
Community Bankers Association of Illinois Community Bankers Association of Illinois


  • Comptroller Lowers Assessment Fees for National Banks
  • FDIC Reports 2007 Financials for Insurance Fund and Resolution Fund
  • ECI On-line Briefing: "What Is a Transforming Rewards Program and
    How Do I Get One?"
  • CDD's Annual Spring Conference Scheduled for March 11-12
  • Baker Market Update - 2/22/08
  • Economic Stimulus Package: Tax Rebates & Business Incentives
  • Half of Americans Will Use Tax Rebate to Cut Debt
  • Surveys for Financial Statement Preparers and Users
  • ICBA President Camden Fine Addresses Economy
  • ICBA Chairman Jim Ghiglieri Expresses Thanks
  • CBAI Officer Compensation Survey Now Online
  • Early Bird Special Registration for CBAI's 34th Annual Convention
  • Chicago Fed National Activity Index (CFNAI) Released
  • Spring Legislative Session Bill Tracking Now Available
  • Inflation Climbing Amid Stagnant Housing Market
  • Ag Exports Expected to Exceed $100 Billion




  • Comptroller Lowers Assessment Fees for National Banks
    The Comptroller of the Currency announced on February 19 that the assessment structure is being recalibrated so that all national banks will pay modestly lower assessment fees, effective March 31, 2008. For the full press release, click here. For the detailed assessment schedule, click here.

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    FDIC Reports 2007 Financials for Insurance Fund and Resolution Fund
    The Federal Deposit Insurance Corporation announced on February 15, 2008, that its external auditor, the General Accounting Office (GAO), reported no material weaknesses in the Deposit Insurance Fund and the FSLIC Resolution Fund for 2007. The Deposit Insurance Fund realized $2.2 billion in income in 2007, an increase of nearly $1.0 billion from a year ago, due primarily to increased assessment revenues. For further information and a complete copy of the 2007 Annual Report, please
    click here.

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    ECI On-line Briefing: "What Is a Transforming Rewards Program and How Do I Get One?
    This month's briefing, entitled "What is a Transforming Rewards Program and How Do I Get One?", will teach you that creating an ownership mentality in your employees will retain talent and increase the value of your bank. Please
    click here for more information regarding the 2008 On-line Compensation Briefing Series.

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    CDD's Annual Spring Conference Scheduled for March 11-12
    The CBAI Career Development Division (CDD) Annual Spring Conference and Mini-Exposition is scheduled for March 11-12 at the Hilton Hotel in Downtown Springfield. It combines motivational, energetic, and informative general sessions with important messages for today's bankers; six breakout sessions with practical solutions and ideas that can be immediately implemented at the bank; a fun-filled social event; and an opportunity to hear the experiences of former CDD (YBD) members during the general session, "Are You Ready for the Next Step?". For more information,
    click here.

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    Baker Market Update - 2/22/08
    Conditions for sustained economic growth looks to be negative, at least for the next three to six months; economists believe January producer prices will increase along with oil prices; 10Yr Treasury Note - Since Recent Peak in Rates.
    More details.

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    Economic Stimulus Package: Tax Rebates & Business Incentives
    (Provided by CBAI Associate Member Plante & Moran)

    President Bush signed the Economic Stimulus Act of 2008 into law on February 13, 2008. This legislation contains a one-time tax credit rebate provision and business tax incentives designed to encourage business investment in new equipment. For details,
    click here.

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    Half of Americans Will Use Rebate to Cut Debt
    A recent Reuters/Zogby poll found that about half of Americans plan to pay down debt with their federal tax rebate. They expressed concern about the economy and anticipate a recession this year due to the worsening housing market and rising inflation.

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    Surveys for Financial Statement Preparers and Users
    The Private Company Financial Reporting Committee is conducting two surveys on accounting topics contained in FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes. The Committee is seeking the opinions of community bankers that prepare or use private company financial statements to help formulate recommendations to the Financial Accounting Standards Board. The two 10-minute surveys are intended to reveal the costs and benefits of complying with the requirements of FIN 48, which also applies to pass-through entities such as Subchapter S corporations. To complete the Preparer's Survey,
    click here. To complete the User's Survey, click here. Please complete the surveys by the end of February.

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    ICBA President Camden Fine Addresses Economy
    Last month the Independent Community Bankers of America (ICBA) issued a nine-point economic growth program to Congress. In a recent article ICBA President Camden Fine addresses these and other stimulus measures backed during the past year by ICBA, CBAI's national association partner representing the interests of community banks. For the complete article, please
    click here.

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    ICBA Chairman Jim Ghiglieri Expresses Thanks
    Nearing completion of his annual term as ICBA Chairman, Jim Ghiglieri of the Alpha Financial Group in Toluca, Illinois, reflects on his experiences and extends his thanks to all community bankers in a recent
    article. Ghiglieri served as CBAI Chairman in 1997-1998, and will conclude his ICBA Chairmanship next month in Orlando during ICBA's annual convention.

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    CBAI Officer Compensation Survey Now Online
    The 18th Annual CBAI Officer Compensation Survey will provide your bank with officer salaries, incentive, and benefits by bank asset size and geographical location. In addition, it includes support personnel pay, directors' fees, vacation information, and more. Results are FREE to CBAI member banks that participate. To access the Survey,
    click here.

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    Early Bird Special Registration for CBAI's 34th Annual Convention
    Register by April 30th for CBAI's 34th Annual Convention & Exposition and take advantage of the special discounted rates for early registrants. At this years' convention, CBAI salutes not only Abraham Lincoln, the 16th President and the most famous individual to call Springfield home, but all "Hometown Heroes," who focus not on themselves, but on bettering the lives of those around them. For more information and to register,
    click here.

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    Chicago Fed National Activity Index (CFNAI) Released
    The Chicago Federal Reserve Bank has published its February index which gauges overall national economic activity and inflation. The CFNAI for January was -.58, up from -.69 in December. All four broad indicators made negative contributions to the index in January. For the complete report,
    click here.

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    Spring Legislative Session Bill Tracking Now Available
    As the Illinois General Assembly begins its spring legislative session each year, thousands of bills are introduced. CBAI's Governmental Relations Department reviews them all and develops a bill-tracking list containing bills of interest. CBAI members can view the list by clicking
    here. You can follow the progress of bills on our tracking list by logging on to www.cbai.com. This week's "News From The Front" discusses some of the bills deemed harmful in their current form. To view the most current "News From The Front," click here

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    Inflation Climbing Amid Stagnant Housing Market
    During the 12 months ending January, 2008, inflation rose 4.3 percent higher than during the 12 month period ending January, 2007, according to a U.S. Department of Labor
    report. Not counting food and energy prices, inflation rose 2.5 percent during the same period. The Consumer Price Index climbed 0.4 percent in January compared to 0.3 percent in December. The Housing and Urban Development Department reported that new home construction increased 0.8 percent in January while applications for new home construction permits fell 3 percent.

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    Ag Exports Expected to Exceed $100 Billion
    Agricultural exports are forecast to climb to a record $101 billion in fiscal year 2008, an increase of $19 billion over the previous year, according to the USDA. Projected higher prices account for most of the increase, and overall export volumes are also expected to be higher.

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    CBAI
    UPCOMING EVENTS   
    CBAI's PROFESSIONAL DEVELOPMENT PROGRAMS THROUGH MARCH 14

     Business Continuity Planning

     Loan Review Fundamentals &
    Reviewing Individual Loans &
    Portfolio Segments


     Marketing Groups
    A & B


     Operations & Technology Groups A, B, C, & D

     Deposit
    Documentation


    TELEPHONE/WEBCASTS THROUGH MARCH 14

     Document Retention & Destruction

     Compliance & Underwriting Issues in Mortgage Refinance

     Directors' Series: Board Evaluations: The Right Way and The Wrong Way

     Back Office Conversions (BOCs): Promises to Keep, Pitfalls to Avoid

    CDD Annual Spring Conference, Hilton Hotel, Springfield 3/11 - 3/12

    CBAI 18th Annual Officer Compensation Survey Deadline: 4/2

    Community Banking Week in Illinois
    4/6 - 4/12


    CBAI's 26th Annual Washington Visitation: 4/29 - 4/30, Mayflower Renaissance Hotel, Washington, D.C.

    CBAI's 34th Annual Convention:
    "Hometown Heroes", 9/11-13, 2008
    Crowne Plaza Hotel,
    Springfield




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