IBAT News

Yesterday, the FDIC granted the extension until the end of 2010 with an option to extend the program for an additional 12 months, or through December 31, 2011.

Institutions that wish to opt out of the program must contact the FDIC by April 30. The FDIC board will announce by Oct. 29 whether it will extend the program for an additional 12 months. Institutions participating in the six-month extension would automatically be included in the 12-month extension if it is implemented by the board and may not have another opportunity to opt out.

Legislation to permanently extend the TAG program has been introduced in the House by Congressman Luis Gutierrez of Illinois (HR 2498).  IBAT will be soliciting co-sponsors for the legislation when over 120 Texas community bankers visit our Texas Congressional offices later this month as part of our annual Washington policy summit.

We are obviously pleased with the FDIC board action.  We invite your questions or emails about the Board's action.  You can read more about your requirements for participation on the FDIC website.

In September, ICBA launched the “My Community, My Bank” Web site, which offers background information on too-big-to-fail and allows individuals to send personal messages to Congress supporting the need to repair the policies that contributed to the near-collapse of the entire financial system. After visitors upload or send their message to Congress, they can virally share the site with friends, urging them to also show their support for community banks, which put the interests of friends and neighbors on Main Street ahead of speculators on Wall Street. Visit the Facebook Page. Visit “My Community, My Bank.”

Source: ICBA NewsWatch Today, read NewsWatch Today archives here.

Source: ICBA NewsWatch Today, read NewsWatch Today archives here.

In the meantime, you can view the online version.  You will see bankers talking to bankers about the importance of the IBAT PAC if we are to effectively advocate for our industry – the community banking industry.  To access the video, click here.  If you need additional information, contact Mae Beth at mbpalone@ibat.org.  

An independent panel of judges selected the two-year employee in the Rising Star category for her involvement within the community as well as role of leadership in the bank... read more.

Statewide, there is one race - a Republican primary contest for Supreme Court Justice Place 3 pitting former State Representative Rick Green against State District Judge Debra Lehrmann.  The IBAT Board of Directors endorsed Judge Lehrmann, and the IBAT PAC has supported her campaign financially.

There is no doubt that if you live in an area where contested races remain in play, you are not only aware of it, but likely are quite ready for the campaign season to take a break for a few months.

Incumbent candidates involved in runoffs to which the IBAT PAC has contributed include State Reps Fred Brown (R - Bryan), Norma Chavez (D - El Paso) and Delwin Jones (R - Lubbock).  Additionally, the IBAT PAC has contributed to Dan Huberty (R - Humble) in his House race to succeed Representative Joe Crabb in District 127.  There are numerous other open seats and challengers to incumbents in play for the runoffs in both primaries. 

Obviously we strongly encourage you to vote and hope you will urge your friends, family and coworkers to do the same. 

Staff Contact: Steve Scurlock, sscurlock@ibat.org, 512-275-2226

This site organizes financial education help from over 20 different Federal web sites in one place. Content is organized by where you are in life ("Life Events"), who you are ("My Resources"), and by specific hands-on tools ("Tools"). Popular Topics are also highlighted. This site provides summaries of resources available at other official government sites and allows you to open those pages in a new window ("Learn More").

Financial Literacy —The ability to understand finance in order to make informed judgments and effective decisions about the use and management of money. (Source: Wikipedia)... read more.

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Federal Reserve Governor Elizabeth Duke said she is optimistic that banks will increase lending this year. In a speech to the Western Independent Bankers, Duke said that most community banks are fundamentally sound and play an important role in providing credit to small businesses.

Duke discussed recent conversations with community bankers who have conveyed concerns about overzealous bank examiners ... She said guidance released in October 2009 on commercial-real-estate lending attempts to bridge the gap to promote both prudent commercial-real-estate loan workouts and balanced reviews by the supervisory agencies.

She also noted that there is currently less demand for credit by sound small businesses. Duke pointed to a recent National Federation of Independent Business study that found 34 percent of businesses reported lower sales as their biggest problem, while only 3 percent cited lack of credit.

Source: ICBA NewsWatch Today, read NewsWatch Today archives here.

Buyers are finally taking a shine to "scratch-and-dent" loans and other nonperforming residential real estate assets, with sellers at long last happy to accommodate them... read more.

Meetings were held with nine Texas Congressman (or their banking aides) and with both Senators Hutchison and Cornyn.

"One thing that is apparent, even though the legislative calendar is very short until the end of the Congressional year, there will be financial reform legislation this year ," Williston said.  "Our mission was to reinforce important provisions in the Senate bill that are community bank friendly and ask our two Senators to continue working toward eliminating community banks entirely from any new consumer protection agency that may be created in the legislation.   We also hit the credit union business loan expansion hard because we know the credit unions are attempting to expand their commercial lending authority in a forthcoming jobs bill."

There is much work left to do.  IBAT will return to DC next month to participate in the ICBA Spring Legislative Summit and annual IBAT Congressional Visit scheduled for April 27-29.  Over 100 Texas bankers are expected to participate.