| Thursday, December 13, 2012


December 13, 2012

Member News

Governor Andrew Cuomo Names Tax-Code Panel
Gannett New York Network

(12-11-12) A year after it was first unveiled, a panel tasked with brainstorming long-term fixes for New York’s tax code is beginning to take shape.
Former state Comptroller Carl McCall and Peter Solomon, the founder of New York City-based investment advisory firm Peter J. Solomon Company, have been tapped by Gov. Andrew Cuomo to co-chair the New York State Tax Reform and Fairness Commission, according to a list obtained by Gannett’s Albany Bureau. The commission was formed as part of a December 2011 deal to tweak the state’s tax brackets, an agreement that came while Cuomo and the Legislature were under pressure to prevent an added tax on the state’s top earners from expiring at the end of the year. That deal included a new bracket for those making more than $2 million annually, which expires at the end of 2014. Cuomo named ten people to the panel, including Deborah Wright, President and CEO of Carver Bancorp Inc. and Carver Federal Savings Bank.

“Three Michaels: A Berkeley Conversation”

(12-10-12) Authors Michael Chabon, Michael Lewis, and Michael Pollan appeared at the Berkeley Rep in “The Three Michaels: A Berkeley Conversation,”  to help enable the creation in Oakland of a tutoring and creative writing center for East Bay youth, dedicated to supporting students with their writing skills and to helping teachers inspire their students to write. Berkeleyside’s “Three Michaels: A Berkeley Conversation” is being supported by One PacificCoast Bank, founded in 2007 by Tom Steyer and Kat Taylor “to be a force for good,” according to Taylor who is the bank’s CEO.  “We want to be a model for how banks should operate, as it’s clear many banks have been responsible for unholy damage,” Taylor says, citing the mortgage crisis and the destruction of rain forests as examples.

Southern Bancorp Mission News
Southern Bancorp

(12-7-12) While parts of the country continue to see slow but steady economic recovery, many of the markets Southern Bancorp serves are still struggling. But Southern is striving to provide its customers and communities with the support and financing needed to accelerate economic recovery. For example, in its Mississippi markets, Southern recently launched several innovative small dollar loan products. They've also partnered with the Clarksdale Municipal School District to provide teachers with loans to help them achieve National Board Certification and have pioneeered a payday loan alternative product to provide a non-predatory alternative to the payday lenders. Additionally, Southern's bank and nonprofit partnership with Coahoma County continues to strengthen and yield tangible progress. The Coahoma County Delta Bridge Project, a comprehensive development initiative led by residents of Coahoma County and supported by Southern, launched about two years ago. Since then, over $2 million in new investments have been attracted in support of the goals outlined in the strategic plan.


Of Interest

CFPB Releases Study on Credit Reports
Consumer Financial Protection Bureau

(12-13-12) This paper describes the credit reporting infrastructure at the three largest nationwide consumer reporting agencies (NCRAs) – Equifax Information Services LLC (Equifax), TransUnion LLC (TransUnion), and Experian Information Solutions Inc. (Experian) – with a special focus on the infrastructure and processes currently used by the NCRAs to collect, compile, and report information about consumers in the form of credit reports.

TAG Bill Clears Key Senate Hurdle as White House Voices Support
American Banker

(12-11-12) The Obama administration released a statement of policy Tuesday in support of extending a crisis-era guarantee program for certain business bank accounts, ahead of a successful procedural Senate vote on the bill to limit debate on the issue. The bill, S. 3637, introduced by Majority Leader Harry Reid, would extend the Transaction Account Guarantee program for two years. The issue has divided a number of industry groups, pitting big banks and credit unions against smaller banks which argue they still need the guarantee. "The Transaction Account Guarantee (TAG) Program played an important role in maintaining financial stability and banking system liquidity for consumers and businesses during the financial crisis," said the statement of policy. "While the Administration supports a temporary extension of the program, it remains committed to actively evaluating the use of this emergency measure created during extraordinary times and a responsible approach to winding down the program." The Senate voted 76 to 20 in favor of a motion to limit debate on the issue on Tuesday afternoon, which likely clears the path for an additional procedural vote and a final Senate vote in favor of the bill as early as Thursday.

Small Bank's Surprise Decision May Threaten Treasury's Tarp Return
American Banker

(12-11-12) A bank's decision to balk at paying dividends to a private investor that bought its Troubled Asset Relief Program (TARP) shares may reduce investor interest in future auctions and weaken returns for the government. Basswood Capital Management won a Treasury bid in October to buy a portion of preferred TARP shares of $114 million-asset CenterBank in Milford, Ohio. Although the bank had never missed a dividend payment to Treasury and appeared in healthy condition, the financial institution sent a letter Nov. 13 to Basswood Capital saying it would not pay its quarterly dividend. The move caught the investment firm by surprise, especially when the bank's CEO gave his reasoning to a local paper, telling a reporter that the bank simply wanted to "keep our capital local as opposed to sending it to New York." The bank's decision is likely to have far-reaching consequences, however, including potentially spooking other investors away from future Treasury auctions and reducing the government's return. "It will open the eyes to some investors that the dividend deferral feature is not merely a theoretical possibility," said Kip Weissman, a partner at law firm Luse Gorman Pomerenk & Schick. "It will probably depress prices."

Treasury Accepting Losses as Small Banks Exit Bailout Program
Washington Post

(12-7-12) At 9 a.m. on Nov. 30, the Treasury Department began auctioning off its shares in seven community banks scattered across the country. Each of these institutions had taken money from the government in 2009 during the financial crisis. By the time the bidding closed at 6 p.m. Monday, the Treasury had collected about $62 million. However, the government’s original investment in these banks totaled $75 million. It was not the first time the government walked away with a loss. In 10 similar auctions conducted to date, Treasury has sold off its investments in 84 financial firms, accepting losses of about $241 million. “Treasury has shifted its emphasis and is no longer focused on promoting financial stability,” said Christy Romero, special inspector general for the TARP. “Instead, Treasury wants to declare success and move on.” Treasury officials said the bids the department has received reflect what the market is willing to bear at this point. Besides, they said, the ultimate goal is to wind down TARP in an efficient way. Moreover, the government may have sold shares in these community banks at a loss, but these firms also paid $307 million in dividends to Treasury coffers, aside from the money recouped from the auctions. Overall, Treasury has turned a profit from its small-bank investment. “We want a competitive, transparent process, and that’s exactly what we’ve had with the auctions,” Treasury Assistant Secretary Timothy G. Massad said.


National Community Investment Fund - Senior Analyst, Social Impact Evaluation and Investments (Chicago, IL)
NCIF is currently seeking a Senior Analyst – Social Impact Evaluation and Investments. The successful candidate will support the Chief Executive on the following key activities of NCIF: social performance metrics and research, financial analysis, marketing and communications, and other related activities. Full details available here

The CDBA Newsflash is a service of the Community Development Bankers Association (CDBA). For more information on other members and the work of CDBA please visit Or write to us at: 1444 I. Street NW, Suite 201, Washington D.C., 20005 or

Contact Name: Dana Weinstein;; 202-689-8935 x32

| Wednesday, December 5, 2012


December 5, 2012

Member News

Mission Valley Bank’s New Generation of Online & eBanking Services
Mission Valley Bank

(12-4-12) Through client surveys, interviews and day to day conversations, Mission Valley Bank has heard what its customers want to see with regard to Online and eBanking. In response, Mission Valley Bank is launching a whole new look and feel for a much more robust Online Banking Platform. This new lineup of state-of-the-art eBanking services which significant enhancements to: oneline banking for personal and small business accounts, business bill pay, personal bill pay, on-site teller, and business online banking. Learn more about the new eBanking Services by viewing the informative videos on Mission Valley Bank's website.

Chicago Fed Announces New Board Members
Fox Business

(12-3-12) The Federal Reserve Bank of Chicago announced three new members and the appointment of a new chair of its Board of Directors in a press release Monday night. Greg Brown, Chairman and Chief Executive of Motorola Solutions Inc.; Jorge Ramirez, President of the Chicago Federation of Labor in Chicago, and William M. Farrow III, President and CEO of Urban Partnership Bank in Chicago, were announced as new members to the nine-person board. The appointments are effective January 1.

Of Interest

Warren, Manchin Win Seats on Senate Banking Panel
American Banker

(12-4-12) Senator-elect Elizabeth Warren has secured a spot on the Senate Banking Committee, and she'll be joined by Sen. Joe Manchin, according to a Democratic Senate aide. Warren, a Harvard professor and founder of the Consumer Financial Protection Bureau, beat out GOP incumbent Sen. Scott Brown in a heated and expensive battle this fall. Critics have warned that the Massachusetts Democrat could have outsized influence on the committee given her strong and often critical views of the industry, but many observers have said that it would be difficult for Senate leaders to deny her a spot given her background. Several liberal groups had started a petition to encourage Senate leaders to place her on the panelThe Senate aide cautioned that the decisions about Warren and Manchin will not be final until Majority Leader Harry Reid makes a public announcement.

Lame Duck Session is Crunch Time for Key Bank Bills
American Banker


(12-3-12) A number of critical industry bills that languished over the summer and fall are once again gaining prominence in the waning days of the lame duck session. At least two bills appear headed for passage — one that would protect information banks share with the Consumer Financial Protection Bureau and another that would end a requirement for banks to place a physical placard disclosing ATM fees in addition to an electronic notice. Another relatively uncontroversial bill that could come up for a vote is an extension to the Mortgage Forgiveness Debt Relief Act, which exempts homeowners from paying taxes on short sales, principal reductions, and other forms of mortgage forgiveness. Banking groups and credit unions have also been waging an ongoing
battleover a bill to double a cap on credit union business lending to 27.5% of assets, which bankers adamantly oppose. Separately, banks are also battling each other as lawmakers weigh whether to extend the Transaction Account Guarantee before it sunsets at year end.

A Surprise Ending for Second Federal
Crain's Chicago Business

(11-28-12) In a surprise end to the saga of the failed Second Federal Savings and Loan Association of Chicago, Wintrust Financial Corp. has agreed to sell the Little Village thrift's three branches and deposits to a group led by Pilsen community development organization the Resurrection Project. The nonprofit, along with North Carolina-based Self-Help Federal Credit Union, had bid unsuccessfully for Second Federal's deposits when regulators closed the thrift in July. The Federal Deposit Insurance Corp.'s move to sell the $161 million of deposits to Rosemont-based Wintrust provoked sharp criticism from Resurrection Project CEO Raul Raymundo and a letter from U.S. Rep. Luis Gutierrez, D-Chicago. The FDIC later sold the thrift's loans, almost all of them mortgages to Hispanic borrowers on the Southwest Side and in near west suburban Cicero, to the Resurrection Project and its credit union ally. But the group always wanted the deposits as well, Mr. Raymundo said. Wintrust CEO Edward Wehmer said that in the end, what was best for the community was for the deposits, loans and branches to be with a single institution. “Sometimes we may not be the perfect answer,” he said in an interview. But, he emphasized, “We are not by any means abandoning the community.”

US SIF Publishes Biennial Sustainable Investment Trends Report
Social Funds

(11-24-12) The recently published 2012 Report on Sustainable and Responsible Investing Trends in the US from US SIF: The Forum for Sustainable and Responsible Investment indicates that assets allocated to sustainable investment strategies continue to rise, as they have throughout the past decade. By the end of 2011, $3.74 trillion were invested by means of such strategies as incorporation of environmental, social, and corporate governance (ESG) criteria and shareowner engagement. The total represents a 22% increase over sustainable investment at year end 2009, which stood at $3.07 trillion. By the end of 2011, 443 institutional investors, 272 money managers, and 1,043 community investment institutions with assets in excess of $3.3 trillion were incorporating ESG criteria, and an additional 200 institutional investors or money managers, with assets of $1.54 trillion, had filed or co-filed shareowner resolutions on ESG issues. The report also specifically discusses Community Development Financial Institutions, noting that community investment through CDFIs experienced a 47% increase in assets over 2010, and now stands at $61.4 billion. 


Sunrise Community Banks - Manager, Commercial Loan Administration (Greater Minneapolis-St. Paul area, MN)

Sunrise Community Banks, Minnesota’s Socially Responsible Bank, is searching for a highly motivated individual to join our Loan Administration team! If you are interested in joining one of Minnesota’s Top 100 Workplaces in 2011 and 2012, and be part of a fun and dynamic team, we have the following opportunity available for a Manager of the Commercial Loan division. This position is responsible for leading the Commercial Loan Administration team by directing work functions, assignments, and special projects. Position will complete selective loan documentation review and HMDA worksheet review. The incumbent will ensure the Loan Administration team is compliant with regulation and policy. Full details available here

The Reinvestment Fund - Loan Closer (Philadelphia, PA)
TRF seeks a Loan Closer to support TRF Loan Officers in closing loan transactions and post-closing follow-up. The Loan Closer will coordinate the loan closing, including preparation of the loan closing checklist, engagement of counsel, tracking of legal costs, review of title commitment, collection and review of due diligence items, entering loan information in TRF databases, and reviewing and preparing closing disbursement. The Loan Closer will be responsible for ensuring that loan documents comply with credit approval and credit policy, and will conduct a post-closing review to ensure that all loan-supported collateral documentation is received, filed, and uploaded to TRF’s document management system. Knowledge of construction financing, commercial real estate loan documentation, and title insurance is required. The successful candidate will be extremely detailed oriented, possess strong organizational skills, and have a demonstrated ability to work on multiple transactions simultaneously. This person will have strong interpersonal skills and have the ability to foster productive working relationships and manage high pressure situations. Full details available here
Federal Deposit Insurance Corporation - Deputy Director, Consumer and Community Affairs Branch (Washington, D.C.)
The Deputy Director provides strategic leadership and direction for all programs and functions within the Community and Consumer Affairs Branch of the Division of Depositor and Consumer Protection to ensure such programs are administered effectively and efficiently in accordance with Corporate and Division objectives. Salary reflects a pay cap for this position of $250,000.00. FDIC Executive Managers (EM) are in the Federal competitive service and not the Senior Executive Service. As an EM at the FDIC, you will provide executive leadership and managerial direction over substantive activities related to planning, developing, executing, and coordinating the Corporation's programs and policies. Key requirement: Incumbent may be relocated to any duty location to meet management needs. This position is open from 11/26/12-12/21/12. Full details available here
The Federal Reserve Bank of San Francisco - Community Development Regional Manager (San Francisco, CA)
The Federal Reserve Bank of San Francisco is seeking a Community Development Regional Manager to cover Arizona, Nevada, and Utah. We are looking for an entrepreneurial, self-starter whose portfolio will help shape the development of leading practices that benefit low- and moderate-income communities in this region and beyond. To apply, please go to


The CDBA Newsflash is a service of the Community Development Bankers Association (CDBA). For more information on other members and the work of CDBA please visit Or write to us at: 1444 I. Street NW, Suite 201, Washington D.C., 20005 or

Contact Name: Dana Weinstein;; 202-689-8935 x32

Partners for the Common Good and CDBA seek an investments and impact manager. This position will cultivate new loan fund investors and funders and maintain accountability to all stakeholders. The incumbent will play a lead role in development and implementation of impact metrics, data collection and analysis.

The National Initiatives Division of NeighborWorks America seeks a senior financial manager to provide key leadership in the management, planning, analysis, coordination, administration, oversight and reporting of budget planning activities to ensure that they are closely aligned with the division’s and NeighborWorks America’s strategic priorities.

CDFI loan fund Indian Land Capital Company seeks a CEO to accelerate the organization’s growth and facilitate its mission of increasing Indian land ownership. The CEO is responsible for all aspects of the enterprise’s operations, providing leadership and oversight to staff and consultants. The CEO is responsible for raising lending capital, maintaining investor relations and recruiting borrowers.

The U.S. Treasury seeks a CDFI Fund associate program manager to develop communication plans and strategies for the CDFI Fund. This role advises management on policy formulation and legislative issues. The associate program manager plans, executes and evaluates the effectiveness of various information in furthering CDFI Fund strategic goals. In addition, this role establishes or evaluates policies, procedures and protocols related to Treasury and federal policies. 

CDFI Bank Spring Bank seeks a commercial loan closer. This position's primary function is to create complete loan packages and to ensure compliance with the bank's credit policy and SBA lending requirements. In order to carry out this function, the incumbent is expected to carry out due diligence, prepare legal files, facilitate the booking of the transaction and act as liaison between various departments.

CDBA member Sunrise Banks seeks a senior visual designer. This position is responsible for the design, development, and execution of marketing projects and for acting as the brand guideline advocate for the Bank, ensuring that all external communications adhere to style guidelines. The senior visual designer also is responsible for designing and maintaining the company website and corporate intranet site.

CDBA member Bank2 seeks a mortgage account executive responsible for outreach to current and prospective correspondent clients. This role is responsible for training correspondent clients, monitoring their sales and recertifying them annually. The mortgage account executive also acts as a primary contact for bank customers.

CDBA member Sunrise Banks seeks a commercial loan officer. This position is responsible for servicing and maintaining a portfolio of commercial loan accounts of various types. The loan officer is expected to interview, assess and analyze prospective loan clients, establishing new business loans and deposit prospects while granting new loans according to bank guidelines and loan policy.