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Kinderhook Bank Looks to Albany, Latham for Growth Branching out to Meet the Competition
Thursday, June 05, 2014 (158 reads)

Following back-to-back record years, Kinderhook Bank will continue its march northward into the Albany, N.Y., market with two new branch openings this year.
“We need a little more critical mass in the Albany region,” said Jeff Stone, senior vice president of retail banking and business development. “We’ve been a Columbia County-based bank. The last five to seven years, the Albany market is where the commercial growth has been.”
The branch expansions into Albany and Latham will bring Kinderhook’s network to eight, and counter an industry trend toward fewer bricks and mortar.

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Quality Service: You Get What You Pay for
Thursday, June 05, 2014 (730 reads)

Banking services have become expensive over the past decade, and fee income to offset the high-quality services that banks provide has eroded in recent years. For most banks, checking account customers in the late 1980s and early ’90s received a checking account, a monthly statement and maybe a debit card if they qualified for one.

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Auto Loans Go from Zero to Sixty CFPB Eyes Putting the Brakes on Indirect Auto Lending
Thursday, June 05, 2014 (757 reads)

Car sales are set to accelerate back to pre-recession levels this year, and with them, a new source of revenue for banks and credit unions who do auto financing – that is, of course, if regulators don’t put on the brakes.
New car sales are expected to top 16 million this year, a 6 percent increase over the 15.5 million predicted last year and an effective return to pre-recession levels, the automotive resource website predicted.

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Making Heads or Tails of Bitcoin Virtual Currency Still Volatile, but Gaining Traction
Thursday, June 05, 2014 (295 reads)

Easy come, easy go. That’s the federal government’s take on the possibility of economic gain in the realm of virtual currency, the most high profile of which is Bitcoin. The currency’s ease of use by those with criminal intent is cited by those in the banking industry who say they wouldn’t finance a Bitcoin startup, or a company that takes payment in bitcoin. (Editor’s note: Bitcoin refers to the payment system itself, while bitcoin pertains to the currency.)

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IBANYS’ Efforts Produce Major Tax Savings for New York Community Banks
Thursday, June 05, 2014 (104 reads)

The 2014-15 state budget approved by the Legislature and signed by the governor will result in tax savings for all New York community banks, and represents a major victory for the membership of the Independent Bankers Association of New York State (IBANYS).

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IBANYS’ Special Report from Washington, D.C.
Thursday, June 05, 2014 (103 reads)

IBANYS was in Washington, D.C. in April and May, representing the interests of New York community banks in meetings with Congress and regulators during the Independent Community Bankers of America’s Annual Washington Policy Summit. New York’s delegation – and the entire summit – was led by John Buhrmaster, president of 1st National Bank of Scotia. Just the second New Yorker in history to chair ICBA, he is also an IBANYS officer, director and government relations committee member.

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For Rural Banks, Forming Relationships with Families is Key to Account Longevity
Thursday, June 05, 2014 (95 reads)

I have the pleasure of working with community banks around the country. Many are in farming areas. For those banks, a real concern is an outflow of assets and relationships when the current generation of customers die off. The Des Moines Register recently reported that 50 percent or more of those expected to inherit farm land will sell it right away.

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AGs Have a Reluctant Whip Hand Has the Stage Been Set for More Criminal Charges against Banks?
Thursday, June 05, 2014 (120 reads)

When Credit Suisse AG pled guilty on May 19 to federal charges that it helped wealthy clients evade U.S. taxes, it looked as though more criminal charges may follow for other big banks.

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Pay up, Recruits down in Commercial Lending Too Few Young Lenders Entering the Field
Thursday, June 05, 2014 (109 reads)

It’s a good time to be a commercial lender. So why aren’t more people entering the field?
After a few recession-era years of lackluster earnings, base salary and cash bonuses are creeping back up for many commercial lenders; but for many, the pay is only a secondary consideration, according to a new survey from Smith & Wilkinson, a Scarborough, M.E.-headquartered banking executive search firm.
Base salaries for commercial lenders increased modestly last year, according to the survey. Commercial lenders in Massachusetts and Rhode Island (for survey purposes, the two states were counted together) earned an average base salary of $118,549, and almost 89 percent of commercial lenders earned a cash bonus that averaged $23,217.

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Social Marketing 101: Meet the Future Now
Friday, April 04, 2008 (3474 reads)

Today's preteens and teens are tomorrow's customers. How do you reach the kids who grew up with the Internet – the iPhone, YouTube and Facebook generation? Youth culture has been ratcheted up to light speed, but the banking industry is slow to adopt new marketing strategies.
One reason is risk. While early adopters gain a head start against competitors in customer retention and acquisition, the return on investment must be evaluated versus waiting for the technology to mature and become commonplace.
“The financial service industry is up against a ‘commodification’ of products and services,” said Michael Seaton, vice president of Digital Marketing at Thornley Fallis Communications, an agency integrating social media with public relations. “New media – meaning social media tools and platforms – provides a range of choices to directly reach out and humanize the banking experience. Transparency and authenticity are front and center and brands must differentiate themselves around their actions, not slogans.”
“The demographics and psychographics of our customers are dynamic,” said Steve Coen, a consultant in the financial industry and retired CIO of Buffalo-w based M&T Bank. “Product and delivery demands are changing, and we must serve our customers on their terms; how, when and where they demand services.”

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New Approaches To Land Top Talent
Tuesday, September 25, 2007 (1653 reads)

Finding the right executive for an important position in banking, and particularly in the specialized field of wealth management, can make or break an organization’s performance. Unfilled positions and failed new-hires can cost an organization money and momentum and undermine their status in the marketplace.

Meanwhile, the task of identifying top talent gets harder all the time. A declining number of mid-career workers, fewer younger workers entering the workforce and a rapid growth in workers above the age of 55 are all contributing to a talent gap. Furthermore, with the walls separating the various financial services firms tumbling down, banks, brokerage firms, insurance companies, money managers and others are all searching for the same talent.

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Increase Your Customers and Deposits
Tuesday, September 25, 2007 (4761 reads)

Online banking is widely considered to be one of the all-time greatest applications of the Internet, yet many banks are squandering the opportunity to add droves of new online customers because they do not offer customers an alternative to signing paper documents to open an account online.

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Turning the Fair Labor Standards Act On Its Head
Tuesday, September 25, 2007 (2308 reads)

The Fair Labor Standards Act (FLSA), in its original form, was designed to protect workers by imposing overtime premiums, establishing minimum wages and abolishing the use of oppressive child labor. But today, nearly 70 years after the act’s inception, some believe it is the employees, counseled by plaintiffs’ lawyers, who are taking advantage of their employers.

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The Subprime Mortgage Crisis: Banks to the Rescue?
Tuesday, September 25, 2007 (2413 reads)

The rumors of the death of the subprime mortgage market are not exaggerated or even untimely. In fact, it seems as if a plague of sorts has infected the industry, and it started with the dubious and sometimes downright predatory habits of many mortgage bankers and brokers. Cries of irresponsible business practices in the industry and marketing schemes that drove lending guidelines are cropping up all over the media nowadays, but it seems like a little of the hindsight is 20/20 type rhetoric.


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New Accounting Standards May Be Opportunity or Trap
Tuesday, September 25, 2007 (1921 reads)

 In February of this year, the Financial Accounting Standards Board released Statement 159, which allows fair-value accounting for most financial assets and liabilities. This is no surprise, as this ...

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Richard H. Neiman
Tuesday, September 04, 2007 (2291 reads)

Since his appointment as the New York State Banking Department’s 43rd Superintendent in March, Richard H. Neiman has had plenty of weighty issues vying for his attention...



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Patriot Federal Bank is Loyal to Local Roots
Tuesday, September 04, 2007 (1996 reads)

For every bank there is always the risk of acquisition.

Community banks can thrive and grow, but the risk of a larger bank acquiring it is always there, said Gordon Coleman, president and CEO of Patriot Federal Bank in Canajoharie in Montgomery County.

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Protecting Against the Hidden Costs of Identity Theft
Tuesday, September 04, 2007 (1708 reads)

Identity theft is widely and correctly viewed as an insidious crime, wherein a person’s good name and financial standing are tarnished, often through the criminal misuse of credit and debit cards. But many of the programs and insurance policies designed to protect a person against the ravages of identity theft are extremely limited in scope...

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Strategic Flexible Working Programs Produce Results
Tuesday, September 04, 2007 (2304 reads)

Strategic flexible working is based on the core concept of traditional flexible working and telecommuting programs. But when elevated to a major corporate initiative driven by producing measurable results...

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