IBAT's Bottom Line February 2, 2009
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Banking Commissioner to be Sworn in during Legislative Luncheon
Charles Cooper will be sworn in as the 30th Texas Commissioner of Banking at ceremonies during the IBAT/TBA Legislative Luncheon on Tuesday, February 10. Governor Rick Perry will administer the oath of office.
If you haven’t yet signed up for the legislative briefing and luncheon, there is still time. Click here for the registration link. In addition to the registration link, you will find a schedule of the day’s activities.
Let’s show our legislators the strength of community banking in Texas and welcome our new Commissioner of Banking Charles Cooper. For questions or further information, call Mae Beth at 512.474.6889.
Go Direct Campaign Announces Community Ambassadors Program - Deadline Extended
The U.S. Department of Treasury’s Go Direct campaign has announced a new recognition program for financial institutions promoting direct deposit to senior citizens, people with disabilities, veterans and others receiving federal benefits.
The six-month Community Ambassadors Program launched in January and is aimed at community and medium-sized banks. It will provide banks with a flexible way to demonstrate their commitment to the community’s financial health while gaining recognition from Treasury’s Go Direct campaign.
Banks that successfully participate will receive a letter of recognition and certificate from Go Direct.
Participants will be offered a variety of options for sharing information about the benefits of direct deposit with their customers, including ordering free Go Direct materials.
For more information and registration, banks are asked to go to www.GoDirect.org.
Texas Governor's Mansion Restoration
Help Us Renovate a Texas TreasureAs you know, the Texas Governor’s Mansion was heavily damaged by arson in 2008. IBAT is partnering with First Lady Anita Perry to help re-build this cherished symbol of our Texas heritage and we invite you and your customers to be a part of this effort.
Last week, IBAT, with the help of James Huffines, Chairman of Plains Capital Bank in Austin and Mark Few, Executive Vice President of American Bank of Texas in Marble Falls, held a news conference with the First Lady to raise awareness of this effort among community bankers and the public. This week you will be receiving a packet of information on how you can help. All contributions are tax deductible.
Hometown bankers have proven to be hometown heroes again and again. We are Texas proud because we live in Texas and if we all work together, we can help restore this beloved symbol of our Texas heritage.
IBAT Career Center
IBAT Career Center is free to all job seekers and provides you with access to the best employers and jobs in the Texas community banking industry.
An added feature of the IBAT Career Center is that IBAT job seekers also have instant access to job listings from the following assocations, thru the IBAT Career Center: Mortgage Bankers Association, National Association of Credit Management, FORIUS (formerly NACM North Central), California Mortgage Bankers Association, International Association of Registered Financial Consultants, Equipment Leasing and Finance Association, International Accounts Payable Professionals.
In addition, IBAT Career Center offers the most targeted advertising for your Texas community banking industry job openings.
Jump start your career with the IBAT Career Center.
NEW! Austin Added to 2009 Regional Tour
Due to the overwhelming response to the 2009 IBAT Regional Meeting Tour, Austin has been added to the schedule: Tuesday, February 24, 7:30am-9:00am.
Among the topics to be discussed by IBAT Chairman Milton McGee and President Chris Williston will be:
- Community bank strategic issues for 2009
- State and federal legislative initiatives
- The bank CEO’s 2009 “To Do” list
IBAT Financial Services
Business Continuity Webinar
CHUBB & IBAT FS HOST WEBINAR
“Banks, Business Continuity & Insurance”
Don’t miss “Banks, Business Continuity & Insurance” a webinar
co-hosted by Chubb Insurance Group and IBAT FS, Wednesday, February 4th at 10 a.m.
George Allport, Vice-President of Chubb’s Department of Financial
Institutions will present a thought provoking conversation regarding
resumption of operations following damage to your bank’s branch, home
office or data center. The discussion will include anticipated
expenses as well as how most insurance programs will address the
challenge. Register Online
IBAT 17th Annual Congressional Visit
The Time to Act is NowNow is the time for community bankers to stand up and be counted in Washington! Amid the turmoil of the failure of many of the mega banks, we can draw a clear distinction for our congressmen between Wall Street and Main Street. But we can only convey this message by being united as we travel to Washington on May 12 to tell “our story.” We had a record-breaking attendance in 2008. Let’s break another record in 2009. There is no fee to attend. You just need to pay for your travel and hotel. Make sure your franchise is protected on Capitol Hill! Click HERE for more information. Sponsorship opportunities are also available!
Legislative Day 2009
Join your colleagues from across the state as we gather in Austin on Tuesday, February 10, for the IBAT/TBA Bankers Legislative Day. The day begins with a continental breakfast and briefing by the IBAT and TBA lobby teams on the upcoming legislative session and issues affecting the banking industry. This new session brings new leadership in the Texas House of Representatives and we will have some special guests join us throughout the morning. Following the briefing, you will have time to go visit the Capitol Office of your local representatives and senators and escort them to the informal come-and-go luncheon at the First United Methodist Church across from the Capitol. For more information and to register, click here. Legal Ease Question of the Week
Question: We have a customer who has formed two business entities--an LLC and a limited partnership. Both of these entities were created by a person living in Texas, but they were formed them under the laws of the state of Nevada. These businesses are actually here in Texas, but the owner refuses to register the entities with the Secretary of State as doing business in Texas. Can we open accounts for business entities that have not registered to do business in Texas?
To find out the answer, click here.
IBAT Foundation
Financial Literacy For Seniors
Did you know that IBAT has developed a Financial Literacy Kit for Seniors? We would like to pilot its use this April. In preparation, we would like to know if any of our members have good relationships with their local senior centers and retirement centers. If you would like to be part of our pilot simply email Mary Lange at mlange@ibat org and say you have an interest in helping with the Financial Literacy Kit for Seniors.
Baker Market Update
On Wednesday, the Fed met for their first FOMC meeting in 2009 and maintained their target range for Fed Funds at zero to 0.25%. Although they never mentioned the word ‘deflation’ explicitly, they did insinuate as much in their released statement which indicated that global economic demand is waning “significantly”, with “some risk” remaining for inflation rates to remain below ideal levels to promote economic growth. Read More in the Baker Market Update.
Although this information has been obtained from sources, which we believe to be reliable, we do not guarantee its accuracy. This is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security.
Solutions from Services
Now through June 30, 2009, First Data is waiving ALL implementation and conversion fees for every IBAT member bank that enters into an agreement to convert from an existing Internet Banking solution to
First Data’s Internet Banking solution.
What a deal! You just thought all conversions were headaches! While no conversion is completely transparent or seamless, First Data has performed over 150 internet banking conversions the past 5 years, establishing First Data as the “conversion specialists” within the industry. 
Click HERE for a white paper that will help you understand just how feasible an Internet Banking conversion can be.
To learn more about how your organization can benefit from a
partnership with First Data, simply contact Jack McDonald at (512)
493-2903 or jack.mcdonald@firstdata.com.
On the Education Front
IT Security Summit
February 26 - San Antonio
More Information . . .
By Byron Acohido and Jon Swartz, USA TODAY
Cybercriminals have launched a massive new wave of Internet-based schemes to steal personal data and carry out financial scams in an effort to take advantage of the fear and confusion created by tumbling financial markets, security specialists say.
The schemes — often involving online promotions touting fake computer virus protection, get-rich scams and funny or lurid videos — already were rising last fall when financial markets took a dive. With consumers around the world panicking, the number of scams on the Web soared . . . Read More.
Coming Soon
For a complete listing of upcoming events, CLICK HERE. Meanwhile, please mark your calendar for some of our key upcoming events.
Investments Summit
February 5 - Dallas
Joint IBAT/TBA Legislative Day
February 10 - Austin
Regional Meetings
February 23-27 - various locations
IT Security Summit
February 26 - San Antonio
Appraisals Summit
March 5 - Dallas
How to Create & Maintain a Sales Culture in a Community Bank Summit
March 18-19 - San Antonio
Congressional Visit
May 12-14 - Washington, D.C.
IBAT/SWACHA Bank on Boot Camp
June 2-3 - Austin
IBAT Leadership Conference
June 18-20 - San Antonio
IBAT 35th Annual Convention
October 10-13 - Westin La Cantera Resort, San Antonio