IBAT News

Support the IBAT PAC


Three days and two nights at one of the Caesars Entertainment properties in Las Vegas, Nevada. Offer is good seven days of the week but excludes holidays and special events. The offer expires on June 1, 2013. Donated by Michael Moores, Citizens National Bank, Henderson.

 

Take a look at all of the items that have been donated so far.

IBAT Comment Letter


IBAT submitted a comment
letter opposing the Financial Accounting Standards Board proposals under
Disclosures about Liquidity Risk and Interest Rate Risk (Topic 825).
IBAT believes the requirements do not provide information that would be
useful to community
bank investors.  Additionally, the proposed disclosures as constructed
may provide false assumptions of future risk and provide no meaningful
basis for comparison.  Finally, the cost to audit and produce the
information in a bank's annual financial statement
would be significant, and expands the ever-increasing financial and
regulatory burden already faced by community banks. To read IBAT's
comment letter

click here
.

Leadership in Action


People describe the modern workday as a firefight. Emails are constantly coming at you, seemingly requiring an instant response. There's no time to think except outside of normal business hours. And that doesn't seem very fair if you want a normal life, too. But some of this urgency may be more perception than reality. We inflict it on ourselves. Here's how to establish new habits. MORE

Basel III Comment Letters


Last week, IBAT filed its comment letter with the OCC, Federal Reserve, and FDIC relative to the Basel III proposal.

IBAT is committed to obtaining an outright exclusion for community banks, regardless of size, or at the very least, obtaining significant modification to the most damaging provisions.

Many of you have been waiting for IBAT's letter in order to model your own letters well in advance of the October 22, 2012 deadline for comments.  We strongly urge that you take time right now and submit a letter on behalf of your bank and shareholders.  The industry must be heard on this defining issue that may well determine the ultimate survival or demise of community banks.

IBAT previously sent your bank a spreadsheet, prepared by Fisher, Herbst, and Kemble, a CPA firm out of San Antonio, to help determine the impact this proposal will have on your bank's Tier I capital.  It is our understanding that the agencies are also developing a calculation instrument but it will not be available for some time.  If you have questions about the spreadsheet, please email Alan Rich.

When used along with IBAT's comment letter and previous information provided by IBAT, we believe you will find the spreadsheet to be a useful tool in drafting your comment letter.

We stand ready to assist you in your efforts.  Let us know how we can be of service.

Tax Lien Lender Questions


Representative
Burt R. Solomons asked the Texas Attorney General questions about the
respective roles of the tax assessor-collector (the "Collector") and
the governing body of a taxing unit in relation to the transfer of a tax lien
to a third party who pays a property owner's property taxes. The Attorney
General answered the questions as follows: (1) The Collector, acting alone,
must carry out the ministerial duties related to the transfer. Neither the
Collector nor the governing body of the taxing unit is empowered to deny the
transfer of a tax lien if the conditions of section 32.06 of the Tax Code are
otherwise met.  (2) A court could conclude that closing costs and lien
recordation fees charged by a property tax lien transferee under section 32.06
of the Tax Code are secured by the transferred tax lien.

With regard
to the second answer, the Opinion recognized that the statute does not
specifically address charges or fees with respect to the recording of the lien.
 It concludes from this absence that it could be argued that lien
recording fees are not among the charges, fees or expenses expressly authorized.
 However, the Attorney General also found support in the Tax Code that any
charges and fees included in the contract between the property owner and the
transferee are secured by the transferred lien. Therefore, the Opinion
concluded that a court could conclude that closing costs and lien recording
fees are secured by the transferred lien.

FDIC Compliance Teleconference


The
FDIC has scheduled its next compliance teleconference for this Thursday,
September 27, from 1:00 to 2:30p.m. central daylight time. FDIC
staff from the Division of Depositor and Consumer Protection will focus the
call primarily on the Consumer Financial Protection Bureau's (CFPB)
mortgage-related proposals, including:

  • Mortgage
    originator standards,
  • Appraisals
    for "higher-risk" mortgages,
  • Equal
    Credit Opportunity Act appraisal requirements, and
  • Mortgage
    servicing.

Advance registration for the teleconference
is required but free of charge.    Please click
here
to register for the teleconference.

IBAT PAC Auction


The IBAT
Convention
is only 2 weeks away and your IBAT staff is working hard to make
this a great event for our members.  Time is short but you still have time
to get in your PAC Auction items.   

We've got:

  • jewelry and handbags
    for the discerning woman;
  • toys for the grandparents;
  • fishing and hunting
    outings for the sportsmen;
  • artwork for the collector;  sports tickets for
    the sports fans; and
  • many many more items. 

Don't forget to get your items
in by September 26th, by filling out the Auction Participation Form, if you would like to be included in the
Auction Guide

CFPB Community Bank Council


Glen
Thurman, First National Bank of Moody, has been named to the CFPB's
newly-formed Community Bank Advisory Council.  The council, composed of
representatives serving in financial institutions under $10 billion in assets,
is to provide the CFPB with feedback and recommendations to inform its policy
development, research, rulemaking, and engagement functions.

Thurman will
serve a two-year term on the council.  Congratulations to Glen on this
appointment!

Baker Market Update


Information received since the Federal Open Market Committee met in August suggests that economic activity has continued to expand at a moderate pace in recent months. Growth in employment has been slow, and the unemployment rate remains elevated. Household spending has continued to advance, but growth in business fixed investment appears to have slowed. The housing sector has shown some further signs of improvement, albeit from a depressed level. Inflation has been subdued, although the prices of some key commodities have increased recently. Longer-term inflation expectations have remained stable.


Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee is concerned that, without further policy accommodation, economic growth might not be strong enough to generate sustained improvement in labor market conditions. Furthermore, strains in global financial markets continue to pose significant downside risks to the economic outlook. The Committee also anticipates that inflation over the medium term likely would run at or below its 2 percent objective.  

To support a stronger economic recovery and to help ensure that inflation, over time, is at the rate most consistent with its dual mandate, the Committee agreed today to increase policy accommodation by purchasing additional agency mortgage-backed securities at a pace of $40 billion per month. The Committee also will continue through the end of the year its program to extend the average maturity of its holdings of securities as announced in June, and it is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities. These actions, which together will increase the Committee’s holdings of longer-term securities by about $85 billion each month through the end of the year, should put downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative.


The Committee will closely monitor incoming information on economic and financial developments in coming months. If the outlook for the labor market does not improve substantially, the Committee will continue its purchases of agency mortgage-backed securities, undertake additional asset purchases, and employ its other policy tools as appropriate until such improvement is achieved in a context of price stability. In determining the size, pace, and composition of its asset purchases, the Committee will, as always, take appropriate account of the likely efficacy and costs of such purchases.


To support continued progress toward maximum employment and price stability, the Committee expects that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the economic recovery strengthens. In particular, the Committee also decided today to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that exceptionally low levels for the federal funds rate are likely to be warranted at least through mid-2015.

Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; Elizabeth A. Duke; Dennis P. Lockhart; Sandra Pianalto; Jerome H. Powell; Sarah Bloom Raskin; Jeremy C. Stein; Daniel K. Tarullo; John C. Williams; and Janet L. Yellen. Voting against the action was Jeffrey M. Lacker, who opposed additional asset purchases and preferred to omit the description of the time period

Flag Alert


HONORING THE VICTIMS OF THE ATTACK IN BENGHAZI, LIBYA


BY THE PRESIDENT OF THE UNITED STATES OF AMERICA

A PROCLAMATION

As a mark of respect for the memory of John Christopher Stevens, United
States Ambassador to Libya, and American personnel killed in the
senseless attack on our diplomatic facility in Benghazi, by the
authority vested in me as President of the United States by the
Constitution and the laws of the United States of America, I hereby
order that the flag of the United States shall be flown at half-staff at
the White House and upon all public buildings and grounds, at all
military posts and naval stations, and on all naval vessels of the
Federal Government in the District of Columbia and throughout the United
States and its Territories and possessions until sunset, September 16,
2012. I also direct that the flag shall be flown at half-staff for the
same length of time at all United States embassies, legations, consular
offices, and other facilities abroad, including all military facilities
and naval vessels and stations.

IN WITNESS WHEREOF, I have hereunto set my hand this twelfth day of
September, in the year of our Lord two thousand twelve, and of the
Independence of the United States of America the two hundred and
thirty-seventh.

Silver Alert


AFFECTED TEXAS
COUNTIES AND/OR NWS REGIONS:

NWS EL
PASO
 
       

THIS
IS A MISSING SENIOR ALERT ISSUED BY THE TEXAS SILVER ALERT NETWORK

The EL PASO POLICE DEPARTMENT is searching for ALFONSO TELLEZ, diagnosed
with SCHIZOPHRENIA, WHITE,
MALE, 68
years old, DOB 06/18/1944,
HEIGHT 5’ 9”, WEIGHT
130
lbs, WHITE Hair, BROWN Eyes, WHITE MUSTACHE
AND GOATEE WEARING BLUE JEANS.

                                                                   

The senior
citizen was last seen at 0700, 09/10/2012 at 7313 WILCOX
LN, EL PASO
.

Law
enforcement officials believe this senior citizen’s disappearance poses a
credible threat to HIS own health and safety.

If you have
any information regarding this missing senior citizen, contact the EL PASO POLICE DEPARTMENT at 915-872-3656.

News Media
Point of Contact is
EL PASO PD at
915-564-7312.

Moving!


Kilpatrick Life Insurance Company and Citizens National Bank (CNB) are pleased to announce that a multi-year lease has been signed by CNB to occupy the Kilpatrick Life Insurance Company building at 200 N. Fredonia located in downtown Longview. Kilpatrick is eager to have a bank return to the building and both organizations are looking forward to adding to the growth and revitalization of downtown Longview.

Brad Tidwell, President & CEO of CNB stated, "Everyone at Citizens National Bank is very excited about the opportunity to open the downtown Longview branch. Our expansion and new presence downtown will allow Citizens to have a much larger footprint geographically and we will be able to serve Longview better than ever before. We greatly appreciate the significant investment that Kilpatrick is making along with CNB to the building. Without them this new venture would not be possible."

"Kilpatrick Life Insurance Company is delighted that Citizens National Bank has chosen the Kilpatrick Life Building in Longview as its newest location," said J. Brian Morrison, President and CEO. "I think it speaks volumes when a bank like Citizens chooses to bring 25 new jobs to downtown Longview." Kilpatrick Life Insurance Company was founded in 1932 and has $1 billion of in-force insurance.

Kilpatrick and Citizens are making a significant investment in the building, with renovations to the basement, first and second floors, as well as the parking garage, exterior of the main building and drive-thru convenience center. CNB will lease almost 20,000 square feet of total space.
CNB anticipates opening the drive-thru convenience center, located at the intersection of Methvin and Green Streets, by November 1, 2012, with the main bank slated to open by April 1, 2013. CNB
currently serves Longview with branches located at 3412 N. 4th Street @ Hawkins Parkway, 5001 Estes Parkway in Lakeport and 3600 Gilmer Road in Spring Hill.

CNB anticipates employing a staff of approximately 25 at their newest Longview location. This location will also be the home of CNB's Longview Trust Department. Both Kilpatrick and CNB are committed to Longview and its continued growth.

Citizens National Bank is a $925+ Million Independent Community Bank with 18 locations across East and Central Texas. Citizens provides a full array of commercial, consumer, investment, insurance and mortgage products using the latest technology to meet and exceed the individual needs of our customers. We've been serving our neighbors for 82 years and we would appreciate the opportunity to serve you.

uCommerce Webinar


Javelin
Strategy & Research and First Data have joined forces to provide you with
the latest insights into the online banking industry, which will help you
prepare for the new world of uCommerce. Find out why flat-lining adoption rates
sound an alarm to rethink personal banking in an era of interactive finance.

Join
First Data on September 18th, and you'll:

  • Learn about key trends and issues
    that could change the outlook for online banking;
  • Understand how shifting consumer
    behavior is driving the evolution of online banking;
  • Discover the rewards of
    capitalizing in mobile banking, personal financial management and alerts;
    and
  • Find out how financial
    institutions can appeal to consumers who are ready for online bill
    payment.

Click here to learn more.

CFPB Proposal on HOEPA


On
July 9, 2012, the CFPB issued a proposed rule that would implement the HOEPA
amendments of the Dodd-Frank Act and fundamentally change the way that Annual
Percentage Rate is calculated.  If adopted "as-is," this will be
one more rule that creates a competitive disadvantage between community banks
and the mega-banks who have the resources to conduct more mortgage loan
services in-house and thus, make no closing costs loans. The mounting
disadvantages in mortgage lending may cause community banks to exit the market.
 Additionally, the proposed counseling requirement causes significant
concerns because federally certified or approved homeownership counselors are
not found in all areas of the state. Read IBAT's comment letter on these and other concerns raised
by this proposal.

Support the IBAT PAC


There
is something for everyone at the upcoming IBAT Annual Convention, including ten
ways that you can get involved to support the IBAT Political Action Committee.
 

  1. Purchase
    Dream Vacation Tickets
  2. Be the
    Best of 100
  3. Call
    Heads or Tails
  4. Ring a
    bottle of wine!
  5. Play
    golf!
  6. Ride a
    bike!
  7. Bid in
    the silent auction
  8. Bid in
    the live auction
  9. Buy some
    jewelry
  10. Take home
    a piece of songwriters memorabilia

Click here or contact Mae Beth Palone to learn
more about any one of these opportunities.

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