| Thursday, January 10, 2013

CDBANewsflash - Low Rez For Email 2

January 10, 2013

Member News

Rep. Darrin Williams Named New Southern Bancorp CEO

Effective Feb. 1, 2013, Darrin Williams, a lawyer and current Democratic Arkansas State Representative, will be the new CEO of Southern Bancorp, Inc. “Darrin’s financial skills, legal experience in securities and financial regulation and history of advocating for the rights of the disadvantaged in both his law practice and his political career make him the perfect choice to lead Southern Bancorp in its mission to build communities and change lives,” said Walter Smiley, current CEO and board chairman of Southern Bancorp, Inc. Williams is a principal at the law firm of Carney Williams Bates Pulliam & Bowman PLLC, where his work focuses on protecting consumers. “My career focus of protecting consumers from the abuses of Wall Street banks has prepared me well to show how banking should and can be done to help communities and people,” said Williams. “I don’t know of a better bank to make that point than Southern.”

Bankruptcy Judge Gives Charles Street AME More Time to Submit Amended Reorganization Plan
Boston Globe

The judge in the Charles Street African Methodist Episcopal Church bankruptcy case Friday gave the congregation until Jan. 18 to file an amended reorganization plan, over the protests of bank lawyers who called the church’s proposals unrealistic and based on erroneous figures. It was the latest skirmish in what has turned into a long court battle between the church and OneUnited Bank. Charles Street AME filed for federal bankruptcy protection last March, after it fell behind on payments for nearly $5 million in OneUnited loans and the bank threatened to auction off the the historic Roxbury church. “There is no plan here that’s possibly feasible,’’ said Gayle Ehrlich, a lawyer for OneUnited, in a withering indictment of the church’s financial records in US Bankruptcy Court in Boston. “This case is way off track and can never get on track.” Ehrlich criticized the church’s proposal to repay its debts to OneUnited over 30 years as unheard of with a business loan — only home mortgages and farm equipment purchases are afforded such long pay-back periods, she...

| Wednesday, January 2, 2013

CDBANewsflash - Low Rez For Email 2

January 2, 2013

Member News

United Bank Celebrates the Retirement of Two Long-Serving Bank Employees
Atmore News

A reception was held at United Bank for retirees Nancy Everette Helton and P. D. Pollard Thursday, December, 13, at the Atmore Main Branch, where friends and coworkers wished them well after more than 28 years of service to the bank and the community. “Today we’re celebrating a day that we all hope to work toward,” said Bob Jones, President and CEO of United Bank, at Thursday’s reception. Jones presented gifts to both as he congratulated them in front of a crowd of more than 100, including fellow bank retirees. “While it’s bittersweet, we wish Nancy and P.D. the best as they begin new chapters and new adventures,” Jones said.

BankPlus Takes on Mississippi Payday Lenders
American Banker
(January 1, 2013)

As the operators of a community bank in the state with the most payday lenders per capita (32 for every 100,000 people), executives at BankPlus in Belzoni, Miss., are characteristically appalled at the exorbitant rates that payday lenders charge. But uncharacteristically for a bank, BankPlus decided four years ago to compete with these payday lenders. Now it successfully offers a small-dollar loan product to thousands of people, with significantly better terms and outcomes. "The idea was to create a program to assist anyone caught in the payday lending cycle, but also to serve the underbanked who seek to enter the commercial banking system," says Bill Ray, the president and CEO of $2.3 billion-asset BankPlus.

Of Interest

New Rules on Debit-Card Processing Start to Pinch Small Banks and Credit Unions
Washington Post

Community banks and credit...

| Thursday, December 27, 2012

BankPlus, a certified community development bank and CDBA member, is located in Mississippi, the state with the most payday lenders per capita. But executives at the Bank were not willing to stand by as these payday lenders charged extremely high rates to often low-income borrowers. Instead, BankPlus decided to offer a small-dollar loan product with better terms and outcomes. According to BankPlus President and CEO Bill Ray, "The idea was to create a program to assist anyone caught in the payday lending cycle, but also to serve the underbanked who seek to enter the commercial banking system." 

Learn more about BankPlus's innovative financial product at American Banker.

| Wednesday, December 19, 2012


December 19, 2012

Member News

Virginia Community Capital Finishes 2012 Strong with 3 Grants
Virginia Community Capital

Virginia Community Capital has received three national grants this past month to support its work in low-income communities and bolster ongoing job creation efforts. A $415,000 grant from the 2012 Bank Enterprise Award Program (BEA), offered through the U.S. Department of Treasury's Community Development Financial Institution Fund, will provide leverage for a wide range of projects across Virginia. This is VCC's fourth consecutive BEA award. $32,750 from the Create Jobs for USA Fund, a collaboration between Starbucks and the Opportunity Finance Network to spark job creation nationally, will combine with first round funding secured in 2011. $20,000 from the Wells Fargo NEXT Awards Program, supporting innovative CDFIs, will provide planning grant funds for the Healthy Foods initiative at VCC. "These grants increase our capacity to provide funding and technical advisory services for low-income communities across Virginia," offered Jane Henderson, VCC President and CEO. "We are especially pleased to see national organizations recognize our efforts and the importance of fellow CDFIs."


Of Interest

2011 FDIC Survey of Banks’ Efforts to Serve the Unbanked and Underbanked Released

This report presents the results of the 2011 FDIC Survey of Banks’ Efforts to...

| 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...

| 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...

CDBA Member Industrial Bank seeks a risk management associate to provide support to the Compliance and Legal Department. This position will assist managers in operational, enterprise and regulatory risk management programs. The associate's responsibilities involve the implementation and maintenance of the risk management framework including business unit requirements, effective internal control processes and self-monitoring practices.

CDBA member One PacificCoast Bank seeks a commercial lending relationship manager. As clients' primary contact with the bank, the relationship manager must understand and articulate the mission of One PacificCoast Bank  to clients, prospects and community members. This position is responsible for day-to-day client relationships and business development efforts in order to meet individual performance goals and achieve the bank’s growth objectives. The relationship manager reports to the chief lending officer.

CDBA member Carver Federal Savings Bank has several open positions.

Chief Compliance Officer

The chief compliance officer is responsible for establishing and maintaining the bank’s compliance program. In addition, this position will provide strategic advice on the bank's regulatory and compliance environment, technical guidance on specific compliance matters and supervision of compliance staff.

Senior Director of Technology

The senior director of technology provides overall vision, leadership and hands-on support for developing and implementing technology initiatives and solutions. This position will be accountable for technology vision and leadership, technology management and line of business support.

Fraud Prevention Officer

The fraud prevention officer is responsible for developing, implementing and administering all aspects of the bank's fraud prevention programs. This position acts as a liaison between bank personnel and law enforcement authorities when responding to fraudulent or other criminal activity.

CDBA member Carver Federal Savings Bank seeks a passionate and dedicated CRA officer and social impact manager. This position is responsible for monitoring, promoting and reporting on the bank's social impact. This role's critical responsibilities include implementing and administering the bank's Community Reinvestment Act program, assisting with social impact reporting and assisting with the design, planning and execution of community development partnerships and activities.