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New York State Report
Wednesday, November 12, 2014 (781 reads)

Forty years ago, a group of local independent community bankers from throughout New York State formed the Independent Bankers Association of New York State (IBANYS). Why? To ensure New York’s smaller banks had a strong, unified voice and presence in Albany on legislative and regulatory matters, and have an organization of their own, where they could build relationships and share experiences and ideas.

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Alternate Branching Strategies
Wednesday, November 12, 2014 (1005 reads)

Traditional branch traffic is diminishing as customers opt for electronic delivery channels. Yet, there are options for community banks to use technology to better serve businesses and consumers, while minimizing brick and mortar investment.

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Winds of Climate Change to Affect Banks
Wednesday, November 12, 2014 (1589 reads)

A massive report published earlier this year by Boston Common Asset Management (BCAM) takes banks to task regarding their concerns about climate change.
The report states: “Climate change is fundamentally altering the landscape in which banks operate. More than any other industry, the banking industry’s assets are widely distributed across sectors and markets, making it vulnerable to economic and political uncertainty caused by climate change.

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Cyber Security Still More Reactive Than Proactive Latest Data Breaches Mine Customers’ Information
Wednesday, November 12, 2014 (3026 reads)

JP Morgan Chase and numerous other financial entities were hit with a cyber breach, discovered in July and disclosed in August, at which time the bank estimated that 1 million accounts had been compromised. In early October, the scope of the breach was made public, and an estimated 76 million households and 7 million small businesses were affected.
The attack was more serious than was apparent at first. Financial information was not compromised and there had been no breach of login information such as account or Social Security numbers, passwords or dates of birth. But the names, email addresses, phone numbers and addresses of account holders were exposed.

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The Tech-Savvy Board: Helping Directors Understand Technology
Wednesday, November 12, 2014 (1152 reads)

Director responsibility for IT risk and strategy has become more consequential as customers migrate to electronic delivery channels. New laws, guidance and regulations require a higher level of board focus on the IT area. At the same time, many directors still classify themselves as technology novices.
Technology is a continuum. People tend to develop a high degree of familiarity and expertise with technologies that were pervasive in their formative years. If a bank board is comprised of directors of varying ages, each member will generally bring a set of skills and a frame of mind that is characteristic of his or her generation.

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Sticking to the Plan
Wednesday, November 12, 2014 (1183 reads)

Since 1852, the National Bank of Coxsackie (NBC) has been serving the banking needs of the small, tight-knit towns and hamlets of the Catskills. But that history is about to expand.
As part of a three-year strategic plan, NBC is expanding northward to bring the “hometown banking” it is known for to the greater Albany region. In July 2014, the bank opened its eighth branch office in Glenmont, one of the fastest-growing suburbs in the Capitol region.

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