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Understanding How Data Breaches Can Occur
Tuesday, March 26, 2013 (1084 reads)


The success of a company is built on customer service and its reputation in the community. A business may have built up goodwill over decades, but it could come undone in a matter of hours if a highly-publicized security breach compromises private customer information. This will not only cost a company its reputation, but also tens of thousands of dollars in losses and possible fines.



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LinkedIn’s New Look
Tuesday, March 26, 2013 (1361 reads)


LinkedIn has been known for years in social media circles as the non-flashy, sleeping giant. However, LinkedIn has recently undergone a number of exciting updates within the last year to freshen its look and become a major competitor in the social media space. Now it’s up to us, as smart marketers, to utilize these new features to help reach our marketing goals.



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ROBO-Cop Strikes Again
Tuesday, March 26, 2013 (1801 reads)


New York State Attorney General Eric Schneiderman recently announced a multi-state settlement with Lender Processing Services, Inc. and its subsidiaries, LPS Default Solutions and DocX, to resolve claims of unlawful foreclosure practices, including robo-signing. The $121 million settlement, reached by New York, 44 other states and the District of Columbia, will require LPS and its subsidiaries to reform their business practices and, if necessary, to correct documents it improperly executed that harmed homeowners. New York’s share of the settlement is approximately $1.9 million. The action reinforces Schneiderman's role as, in essence, a robo-siging cop -- one of the most aggressive opponents of such practices.



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Five Star Bank: A Legacy Turns the Page
Tuesday, March 26, 2013 (1203 reads)


After 150 years of leadership by the Humphrey family, Five Star Bank has a new CEO from outside the family.
Peter Humphrey, the fourth generation of his family to lead Five Star Bank, retired in August after shepherding the bank for the last 35 years. He will continue to play a key role at the bank as a member of the board of directors and a major shareholder. The new CEO is Martin K. Birmingham, who took that title on Feb. 20. Prior to Humphrey’s retirement, Birmingham had served as president and chief of community banking.



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Top-Performing Banks Produce Predictable Profits – and You Can, Too
Tuesday, March 26, 2013 (1404 reads)


Can you go to your board and tell them how much business you’ll close in the next 30 days – with at least 90 percent certainty?
Do you have controls to make sure that every person who is calling is doing two things effectively: Calling the right people, and secondly, following a process that assures premium pricing so you never have to hear those dreaded words “we can do the deal if we match rates” again?
Most important, is your institution being paid for your unique selling propositions (USPs) – or do your lenders put you in a position of having to turn away deals, or match them every time a desperate competitor undercuts you, hurting not only the borrower, but the bank that got the business (and you, too, because you failed to get that business)?



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The Evolution of the Virtual Branch
Tuesday, March 26, 2013 (1276 reads)


 



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Two More NY Banks Convert to State Charter
Tuesday, March 26, 2013 (2464 reads)


Two New York-based banks have been approved to convert from national charters to New York state charters. The New York State Department of Financial Services (NYSDFS) approved Jeffersonville Bancorp, Inc. the holding company for the First National Bank of Jeffersonville, for conversion to a state charter effective Dec. 21, 2012, and the bank now operates under the name Jeff Bank. It will fall under the purview of the FDIC and the Federal Reserve Board.



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Take Stock in the U.S., Says Neal Soss
Tuesday, March 26, 2013 (1318 reads)


At the Association for Corporate Growth New York’s recent monthly meeting in Tarrytown, Neal M. Soss, managing director and chief economist for Credit Suisse, spoke of national and international trends in 2013 and beyond.
“We are capable of thriving in any environment, but you’ve got to accept the environment for what it is,” said Soss. He opined that Europe’s survival of its debt crisis and improved exports in Asia were all good economic news.



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‘Cliff Notes’ For Long Island Economy
Tuesday, March 26, 2013 (1240 reads)


Pearl Kamer, chief economist at the Long Island Association, had sobering news for a gathering of business executives at a recent breakfast hosted by the New York Chapter of the Association for Corporate Growth at Hofstra University. “If the country defaults on its debt obligations … it’s going to kill our economy,” she said.
The impact of both Sandy and the Nor’easter that followed shortly after took their toll on the entire tri-state region. Long Island was not spared going over the cliff.
After a burst of job growth during the spring and summer months, year-over-year job gains diminished throughout the fall. Between October and November, Long Island sustained a loss of 3,300 payroll jobs, including the loss of 5,100 private-sector jobs. 6,500 jobs were lost in the leisure and hospitality sector, a category that including dining and drinking establishments. Categories that include various personal services, lost 2,000 jobs between October and November. Hospitals lost 900 jobs as a result of storm damage.



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