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| RECENT NEWS |
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Payroll Lien Database Now Available
As many of you are aware, employers who fail to pay their employees are subject to a general (and priority) lien filed by the Texas Workforce Commission (TWC). Heretofore, these liens were difficult if not impossible to detect until a loan reached workout/foreclosure status. We are pleased to announce that the Texas Workforce Commission has graciously agreed to provide information on all of these active liens in excess of $2,000 in alpha format, and will update it on a monthly basis.
The link to this database resides in the password protected section of the IBAT website, where you will also find a link to a summary of the Texas Payday Law. We recommend that you periodically cross-check your problem loan list with this database to ascertain the possibility of any additional risk and/or diminution of collateral value.
This is an outstanding example of cooperation between the public and private sectors. IBAT went to the TWC with a problem, and together developed a very workable and efficient solution. Special and sincere thanks to Chair Diane Rath and the staff at the Texas Workforce Commission for their support, cooperation and efforts in making this tool a reality.
Banking Department Financial Education Survey
The Texas Department of Banking is surveying Texas bankers to identify the extent and nature of bank-sponsored financial educational programs in their communities. The Department has hired Leilani Lim-Villegas as their Financial Education Coordinator, and her responsibility is to seek the opportunities to personally assist Texas bankers with developing a financial education effort aimed at their communities, including youth, adults, senior citizens, and community segments whose primary language is other than English. This survey is the first step in that process and your response is sought. The survey is conducted through an internet survey company, and can be accessed through www.banking.state.tx.us/FEsurvey.htm. Commissioner James encourages every Texas banker to seek ways to promote financial literacy in their own community, and to work through IBAT in this endeavor.
IBAT Note: If you have not explored the online resources available within the IBAT Education Foundation, go to http://foundation.ibat.org/ and find the FDIC Money Smart curriculum along with a wealth of other topics.
This robust site has won the approval of the Texas Education Agency to meet the state mandate on providing financial education in our Texas high schools. |
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| LEGAL EASE QUESTION OF THE WEEK |
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Question: Our bank is bidding on the depository contract for a local governmental unit. The RFP requires us to produce a CIQ. What is that?
To find out the answer, click on the flashing question mark. And you can also check out our searchable database of other frequently asked questions. |
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| BANK CENTENNIAL |
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IBAT would like to congratulate the First National Bank in Bronte as it celebrates its 100th Anniversary this year, commemorating its past and the beginning of another century of service to the community. The IBAT Board of Directors and staff congratulate Chairman Earl Glenn, Vice Chairman Mary Glenn, President Frank Sanders along with the directors, officers and employees on this important milestone for the citizens of Bronte and Coke County and the community banking industry. |
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| DREAM VACATION TICKETS |
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Don’t forget to purchase your Dream Vacation tickets. For a $10 investment, you have an opportunity to win $5,000 if your name is drawn during the IBAT convention in San Antonio. You don’t have to be present to win. To order tickets, click here or call Lindsey at 800.749.4228 for rules and ticket information. |
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| SOLUTIONS FROM SERVICES |
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Priority Power Management is an independent energy aggregation and consulting firm providing comprehensive energy management and procurement services. It is more important than ever for businesses to have an electricity procurement strategy because electric costs have a tremendous impact on a business' productivity and profitability.
Our core services include electric power aggregation, peak shaving strategies, electric load management, distributed generation, and contract and rate negotiation. Our experienced team affords our clients the ability to outsource all power management strategies.
One key element to the Priority Power Management strategy is aggregation. Electric power aggregation allows users to join a buying pool to receive the best possible rates for electricity. This increased market size drives rates down and results in more favorable terms and conditions in power contract. Priority Power has already assembled one of the largest buying pools in the state and provides energy management solutions to some of the largest independent oil and gas and commercial real estate companies in Texas.
We are independent and objective. Our singular focus is to negotiate the lowest price possible for our clients. To learn more please see our website at www.prioritypower.net. |
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| 32ND ANNUAL CONVENTION |
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If you haven't registered yet, there's still time. But our room block cutoff is Tuesday, August 29 - after that, we cannot guarantee availability. Visit us online for more information.
We'd also like to say THANK YOU to all our sponsors and exhibitors for their generous support! Exhibit space is sold out, but we still have some sponsorship opportunities available. Don't miss this chance to promote your company to potential clients! |
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| BAKER WEEKLY |
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Faults in the housing market continue to emerge as this week’s indicators show. Month-over-month existing home sales fell 4.1%, reducing the annual sales to 6.33mm. Read more in this week's Baker Weekly. 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. |
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| IBAT EDUCATION FOUNDATION |
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Answer: Consumers need to have information, knowledge, and skills to evaluate their options to identify what's best for their needs and circumstances. |
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ON THE EDUCATION FRONT |
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Check it out...we have four Education Summits on the horizon:
October 18-19 - Arlington
October 26-27 - San Antonio
November 6 - Dallas
November 2-3 - San Antonio; and November 8-9 - Dallas (Richardson)
OCC Workshop For National Community Bank Directors
September 26 - Hyatt Regency Hotel, San Antonio
The workshop provides practical information that expands bank directors' skills and understanding of issues facing their banks. This workshop covers compliance risk.
Workshops cost $65 each. Attendees receive pre-course reading and course materials, an OCC telephone seminar CD, a community bank supervision handbook, other supervisory material, a continental breakfast and lunch. Workshops are limited to the first 50 registrants and are geared primarily to outside directors of national community banks with assets of less than $1 billion. Management directors may also find the workshop beneficial. |
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COMING SOON |
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For a complete listing of upcoming events, click here. Meanwhile, please mark your calendar for some of our key events for 2006.
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Contact IBAT or if you have comments or questions about this newsletter,
email or call Bonnie Kankel at (800) 749-4228. |
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