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       May 21, 2008 Graphic
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Community Bankers Association of Illinois
Community Bankers Association of Illinois Community Bankers Association of Illinois


  • SHAZAM Becomes Primary Sponsor of CBAI E-Newsletter
  • Department Sends Claim & Release Form to State Banks and Thrifts
  • FDIC to Scrutinize Brokered-Deposit Funding
  • Economic Index Shows Slight Improvement
  • Community Banks are Stable and Well Positioned
  • Congress Passes Farm Bill by Veto-Proof Margin
  • Financial Forecast Center
  • Economic Outlook White Paper Available from Plante & Moran
  • CBSC Partner Triad Financial Services Earns Lender of Year Award
  • VisionLink For Banks Responds to Wachovia BOLI Losses
  • Baker Market Update
  • General Assembly Honors CBAI Member Bank for Civic Service
  • 2008 CBAI Ag Lenders’ Conference a Popular Event
  • New CBAI Program! Advanced Compliance Institute
  • Buy Two Seminars! Get One Free!


  • SHAZAM Becomes Primary Sponsor of CBAI E-Newsletter

    SHAZAM, Inc., an EFT network and processor founded in 1976 by community financial institutions to guarantee access to the electronic payments system, has become the primary sponsor of CBAI’s electronic newsletter, CONNECTED! TO COMMUNITY BANKING. CBAI and
    SHAZAM have been marketing partners since 2000, and SHAZAM now serves 1,600 community banks in 30 states. To learn how CBAI members can earn special discounts on SHAZAM ATM services, please contact Mike Duke, CBSC Vice President of Electronic Payments.

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    Department Sends Claim & Release Form to State Banks and Thrifts

    State Chartered Banks and Thrifts received on Saturday, May 17, a "Proof of Claim and Release Form" from the Illinois Department of Financial and Professional Regulation (IDFPR). Completion and submission of the form is necessary to receive full credit under the terms of the "Settlement Agreement" which was signed late last week by the presiding judge in CBAI's lawsuit against the Blagojevich administration challenging fee hikes and fund sweeps. Part of the Agreement requires participating financial institutions to waive their individual right to sue the Administration over the fee hike and fund sweep issue.

    Please note that while the Agreement has been completed and signed by the judge, final disposition is dependent upon the enactment of legislation which is pending in the Illinois General Assembly. Completion and early submission of the form sent by DFPR will expedite the payment process once the required legislation is enacted. Please understand that, while CBAI is optimistic, passage of the legislation is not guaranteed. However, CBAI encourages all state banks and thrifts to return the Claim and Release Form at your earliest convenience in order to receive speedy and full payment of credits due under the Agreement.

    Please do not hesitate to contact either
    David Manning or Jerry Cavanaugh at 800-736-2224.

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    FDIC to Scrutinize Brokered-Deposit Funding

    FDIC Chairman Sheila Bair said the FDIC will be taking a closer look at institutions relying heavily on brokered deposits, according to the American Banker newspaper. The agency is adopting the extra regulatory scrutiny following the failure of ANB Financial in Bentonville, Ark., Bair told the newspaper after a
    speech last week. The $2 billion-asset bank funded $1.6 billion in out-of-state loans with rate-sensitive brokered deposits. Bair's speech outlined her government-assisted financing plan to help struggling homeowners refinance into more affordable mortgages.

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    Economic Index Shows Slight Improvement

    According to an
    economic index published by the Conference Board, the U. S. economy slightly strengthened in March and April. The index rose 0.1 percent following five previous months of decline.

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    Community Banks are Stable and Well Positioned

    Community Banks across America have emerged from the Wall Street meltdown largely unscathed, according to Cam Fine, ICBA President, in a recent
    appearance on CNBC’s Squawk Box program. Appearing with Fine was FDIC Chairman Sheila Bair who emphasized that community banks last year posted significantly higher return on assets, lower delinquencies, chargeoffs and non-current loans, than the largest banks. She also noted that community banks are well-positioned to withstand the current economic challenges.

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    Congress Passes Farm Bill by Veto-Proof Margin

    Last week the U. S. Senate passed the 2008 Farm Bill by an 81-15 vote, following overwhelming passage in the House. The measure now goes to President Bush who has vowed to veto it. Congress would then vote to override the veto and make the $300 billion, five-year Farm Bill law before Memorial Day.

    Community bankers successfully lobbied lawmakers for the past two years to prevent adoption of the Farm Credit System’s proposals to expand its lending authority. Here are the roll call votes for the Senate and House.

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    Financial Forecast Center

    Get financial rates, forecasts, indexes, and economic indicators
    here.

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    Economic Outlook White Paper Available from Plante & Moran

    Are you hearing conflicting information about our current economic outlook? Do you know what other business leaders are doing to help grow their organizations? Plante & Moran’s White Paper, which is now available, offers you the opportunity to sit down with 344 business leaders and get their candid opinions. For the full report click here.

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    CBSC Partner Triad Financial Services Earns Lender of Year Award

    The Manufactured Housing Institute (MHI) announced during its 2008 annual meeting in Las Vegas that Triad Financial Services, Inc., was named National Lender of the Year. Triad is an exclusive marketing partner with Community BancService Corporation (CBSC), a CBAI affiliate.
    Press Release.

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    VisionLink For Banks Responds to Wachovia BOLI Losses

    In the May 7 edition of the American Banker, an article on Wachovia Bank entitled: “New ‘Rock’ To Look Under: New Hits from BOLI” described a write-down by Wachovia of its BOLI portfolio. VisionLink For Banks wants to alert its clients to this article and discuss its relevance to the separate account policies of VisionLink clients. To read more,
    click here.

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    Baker Market Update

    Crude Oil Hits New High, Again; Home Starts less Condos Falls to a 17-Year Low; Consumer Confidence Plummets to a 28-Year Low; Continuing Claims Rises to a 4-Year High. For the most current BAKER GROUP update,
    click here.

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    General Assembly Honors CBAI Member Bank for Civic Service

    The Illinois House of Representatives presented First Community Bank and Trust in Beecher with a Good Neighbor Business of the Year Award. For more details regarding this special honor,
    click here.

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    2008 CBAI Ag Lenders’ Conference a Popular Event

    On June 9 & 10, 2008, agricultural experts including Dr. David Kohl from Virginia Tech, Dr. Paul Ellinger from the University of Illinois, Dr. Steven Johnson and Dr. Elwynn Taylor from Iowa State University, as well as Mark Scanlon from ICBA, and Cory Mitchell from the Illinois Finance Authority head an all-star line-up of speakers at CBAI’s 2008 Ag Lenders’ Conference. This cutting-edge, two-day conference, conducted at the Crowne Plaza Hotel in Springfield, also features a number of exhibits by agricultural-related firms. For details and a registration form,
    click here.

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    New CBAI Program! Advanced Compliance Institute

    Scheduled for June 18 & 19 at the CBAI Headquarters in Springfield, the Advanced Compliance Institute is designed for the bank’s experienced compliance personnel who want to upgrade their skills in the detection, diagnosis, and resolution of compliance issues, as well as the ability to influence others to solve compliance problems. Bill Elliott, Bryan Bradley, and William Gaidis from Young & Associates lead this highly interactive program. For an agenda a registration information,
    click here.

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    Buy Two Seminars! Get One Free!

    The CBAI Education Department has a special offer just for you. For every two individuals you register for any one of four June one-day seminars, you will receive one FREE registration! Registrations may be for the same seminar, or for different seminars, or any combination. For more information,
    click here, visit www.cbai.com, or call the Education Department at 800/736-2224.

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    CBAI

           

    UPCOMING EVENTS   
    CBAI's PROFESSIONAL DEVELOPMENT PROGRAMS THROUGH 6/30

    › Two-for-One Sale

    › A Guide to Human-Resources Law

    › Ag Lenders' Conference

    › Customer Service Is Not Customer Loyalty

    › Advanced Compliance Institute

    › Operations, Payments, and Funds Management Boot Camp

    TELEPHONE/WEBCASTS THROUGH 6/30

    › Electronic Lending Rules

    › Your Bank’s Ethics Responsibilities

    › Dealing with Regulators in an Uncertain Environment

    › Safe-Deposit Compliance Update

    › Medallion & Signature Guarantee Rules

    › BSA Exam Focus on Electronic Banking

    › Top Ten Compliance Violations

    › Opening Accounts for Limited-Liability Companies

    › Conduct a Risk-Based Compliance Audit


    OTHER NOTEWORTHY EVENTS

    CBAI Group Meetings 4/21 - 6/24, Register OnLine Now

    BKD Award Nominations Deadline, 6/23

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




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