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Independent Community Bankers of America

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Rep. Melissa Hart (R-PA) Rep. Stephanie Herseth (D-SD) Rep. ... Midwest Regional Office. 1603 22nd Street #102. West Des Moines, IA 50266. Tel: 515-226-3326 ... – PowerPoint PPT presentation

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Title: Independent Community Bankers of America


1
Independent Community Bankers of America
2
Who Is the ICBA
  • Nearly 5,000 members
  • Members are locally operated banking institutions
    that know their communities and customers
    directly
  • Provide individualized customer service
  • Range in assets size from 2 million to 7
    billion
  • 17,000 locations, more than 230,000 employees
  • Represent rural, suburban and urban marketplaces
  • Many more than 100 years old, yet some newly
    formed

3
About ICBA
  • ICBA, which is celebrating its 75th anniversary
    this year, is the only national trade association
    that speaks solely for community banksICBA is
    unique that way.
  • ICBAs democratic structure is unique among the
    national banking associations. Each member has an
    equal voice in shaping the associations policies
    and programs. No one bank within our membership,
    simply by their sheer size or large dues
    payments, can control any of our policies.

4
About ICBA
  • ICBAs stated core principles set it apart
  • We support the dual banking system and a fair and
    competitive marketplace where all institutions
    are on equal ground.
  • We oppose mixing banking and commerce and believe
    in a balanced financial system that does not
    favor any one segment of the financial services
    sector over another. In that regard, we adamantly
    oppose excessive concentration of our nations
    economic and financial resources.

5
ICBA Locations
  • Headquarters
  • Washington, DC
  • Subsidiary Headquarters
  • Arlington, VA
  • Membership, Education, HR
  • Sauk Centre, MN
  • TCM Bank
  • Tampa, FL
  • Securities, Financial Services
  • Memphis, TN
  • Regional Offices
  • Boston, MA
  • Atlanta, GA
  • Harrisburg, PA
  • Des Moines, IA
  • Dallas, TX
  • Colorado Springs, CO
  • Los Angeles, CA

6
ICBAs Mission
  • The ICBA is a strong and dynamic trade
    association working to provide its members a
    competitive edge by effectively aggregating
    political, economic and marketing power. The ICBA
    is dedicated exclusively to enhancing the
    franchise value of the nation's community banks
    for the benefit of their customers and the
    communities they serve.

7
Distribution of U.S. Banks
  • 45 less than 100 million
  • 48 between 100 million and 1 billion
  • 93 of U.S. banks less than 1 billion in assets!

Source FDIC Quarterly Banking Profile, 2004
8
Bank Membership
  • ICBA is the only national trade association
    dedicated exclusively to serving the interests of
    community banks. From being an advocate in
    Washington for the issues that affect community
    banks, to providing profit-boosting and
    cost-effective products, to offering the
    education and resources community banks need to
    stay competitive in a changing market, ICBA is
    serving the needs of community banks.

9
ICBA Member Benefits
  • Advocacy
  • Profitability Solutions
  • Resources

10
ICBA Member Benefits Advocacy
  • Lending and Funding
  • Agriculture
  • Payments and Technology
  • Tax Policy
  • Small Business Development
  • Accounting Standards

11
ICBA Advocacy
  • ICBA Fighting for Competitive Equity with Credit
    Unions. 
  • ICBA is leading the fight to stop the expansion
    of credit union powers, especially business
    lending powers, and to curb the growth of their
    charters in contravention of the rule of common
    bond.
  • Raising the CRA Threshold for Streamlined Exams. 
     
  • ICBA is leading a broad-based coalition to
    increase the asset size limit of banks eligible
    for the streamlined small-bank CRA exam and make
    the program more flexible and efficient. 

12
ICBA Advocacy
  • Maintaining the Separation of Banking and
    Commerce. 
  • ICBA has led the fight to close loopholes, such
    as the ILC loophole, to protect the integrity of
    our nations financial system. This effort is
    aimed at keeping Wal-Mart and other commercial
    conglomerates out of the banking industry.
  • Advocating Deposit Insurance Reform. 
  • ICBA has been in the forefront of the campaign
    for comprehensive Federal deposit insurance
    reform including automatic inflation adjustments
    of coverage levels. Legislation passed this
    spring in the House 413-10.

13
ICBA Advocacy
  • Preserving the Integrity of the Housing GSEs.   
  • ICBA is spearheading efforts in Congress to
    strengthen the regulatory structure of the
    housing GSEs Fannie Mae, Freddie Mac, and the
    Federal Home Loan Banks while preserving the
    unique nature of each GSE and keeping them out of
    the reach of political influence. 
  • The Federal Home Loan Banks are especially
    important to community banks as a vital funding
    source, and ICBA is fighting to protect its
    ownership, operational and capital structure, and
    mission.
  • Supporting Bankruptcy Reform.   
  • ICBA has been instrumental in promoting
    legislation to reform the bankruptcy code to curb
    spiraling abuses in the program that are costly
    to both financial institutions and consumers. 
    Working with the Bankruptcy Coalition and key
    congressional leaders, ICBA helped craft a
    meaningful reform package that has won
    overwhelming bipartisan approval in Congress. 
    Even though unrelated provisions have stalled
    this bill thus far, ICBA will continue to push
    for adoption of a meaningful reform package.

14
ICBA Advocacy
  • Combating Terrorist Financing and Money
    Laundering.   
  • ICBA supports federal government efforts to
    prevent financial institutions from being used to
    finance terrorism or to launder the proceeds of
    criminal activities.  However, this effort must
    not be a one-sided effort by banks law
    enforcement and the federal government must
    provide information so that banks are reporting
    truly suspicious activities and not routine
    transactions. It is also important to balance the
    needs of law enforcement with customer privacy. 
    ICBA will continue working closely with Treasury,
    FinCEN and federal banking regulators on this
    important homeland security issue. 
  • Reducing the Scope and Costs of Sarbanes-Oxley. 
      
  • ICBA continues to pursue relief for publicly held
    banks and bank holding companies from the
    regulatory burden imposed by the Sarbanes-Oxley
    Act and, in particular, from the higher auditing
    costs resulting from the internal control
    attestation requirements of Section 404 of that
    Act.  We also are concerned that regulators could
    apply best practices from this Act to closely
    held companies.  Working with key legislators,
    regulators and the stock exchanges, we will work
    to protect community banks of all sizes from
    excessive and unnecessary regulatory burden.

15
ICBA Advocacy
  • Taking the Lead on Agricultural issues.   
  • ICBA consistently provides first class leadership
    on key agricultural issues important to community
    banks and their farm customers.  ICBA has led the
    way in opposing regulatory and legislative
    expansion of the Farm Credit System and is
    seeking access to the System for community
    banks.  We have lobbied to keep funding intact
    for the 2002 Farm Bill programs and the crop
    insurance program. We continue to push for
    important enhancements in USDA programs to
    stimulate greater rural economic development and
    we actively pursue ways to make USDA guaranteed
    farm loan programs more effective.
  • The ICBA-backed Military Personnel Financial
    Services Protection Act (H.R. 458) which passed
    by a vote of 405-2.
  • This legislation would ban the sale of
    contractual mutual funds, an obscure product that
    disappeared from the civilian market more than
    two decades ago.

16
ICBA Advocacy
  • Communities First Act
  • H.R. 2061, S. 1568
  • Purpose An Act to enhance the ability of
    community banks to foster economic growth and
    serve their communities.
  • Short Title This Act may be cited the
    "Community Banks Serving Their Communities
    First Act" or the "Communities First Act".

17
Title I Targeted Regulatory Relief
  • Home Mortgage Disclosure Act
  • Increase exemption levels to include banks with
    assets of 250 million and adjust according to
    procedures specified in HMDA.
  • Call Reports
  • Permit highly rated, well-capitalized banks with
    assets of 1 billion or less to file a short
    form in two quarters of each year.
  • Sarbanes-Oxley Act
  • Exempt banks with assets up to 1 billion from
    internal control attestation and audit
    requirement.
  • Depository Institution Management Interlocks
  • Exempt banks of 500 million or less in assets.

18
Title I Targeted Regulatory Relief
  • Bank Holding Companies (Federal Reserve
    Regulation Y)
  • Direct the Federal Reserve to make bank holding
    companies with assets up to 1 billion eligible
    for the Small Bank Holding Company Policy
    Statement on Assessment of Financial and
    Managerial Factors.
  • Increase the debt-to-equity ratio to 31 for
    banks in holding companies with assets up to 1
    billion.
  • SIPC Coverage
  • Provide banks with assets up to 1 billion the
    same protection afforded other investors and
    other depository institutions for their brokerage
    account assets when a broker dealer fails.
  • Examinations
  • Give federal regulators flexibility to determine
    the examination interval for well-rated,
    well-capitalized banks with up to 1 billion in
    assets.

19
Title I Targeted Regulatory Relief
  • Loans to Executive Officers
  • Provide a two-times-capital aggregate limit for
    banks with assets up to 1 billion.
  • Additional Relief by Agencies
  • The appropriate agencies shall tailor any new
    reporting, examination, or other requirements to
    take into account their effects on community
    banks.
  • Community Reinvestment Act
  • Increase CRA examination intervals for banks up
    to 1 billion.
  • Annual Adjustment
  • Unless otherwise specifically provided, the asset
    levels specified in this title shall be annually
    adjusted by the percentage of increase in total
    assets held by institutions insured by the FDIC.

20
Title II Additional Regulatory Relief for Banks
Customers
  • Truth in Lending (Federal Reserve Regulation Z)
  • Direct the Federal Reserve to prescribe
    regulations authorizing customers who borrow from
    Federally insured depository institutions to
    waive the three-day right of rescission.
  • Exempt a refinancing with a new lender from the
    three-day right of rescission where no new money
    is advanced.
  • Exempt home equity lines of credit from the
    three-day right of rescission.
  • Gramm-Leach-Bliley Act Privacy Notices
  • Allow a bank that does not share customer
    information, other than as permitted by one of
    the exceptions, the option to forego delivery of
    the annual notice unless there has been a change
    in the banks privacy policy.

21
Title II Additional Regulatory Relief for Banks
Customers
  • Home Mortgage Disclosure Act (HMDA) (Federal
    Reserve Regulation C)
  • Exempt banks with fewer than 100 reportable loan
    applications per year per category.
  • Allow the Federal Reserve to develop a definition
    of Metropolitan Statistical Area for HMDA
    purposes, instead of using Census Bureau
    definition created for entirely different
    reasons, to avoid covering certain rural banks.
  • Direct the Federal Reserve to streamline HMDA
    data collection and reporting and eliminate
    requirements that are not cost-justified.  
  • Call Report Streamlining
  • Requires the FDIC, in conjunction with the other
    Federal banking agencies, to review Call Report
    requirements every five years to determine if
    some of the information and schedules can be
    eliminated.

22
Title II Additional Regulatory Relief for Banks
Customers
  • Loans to Executive Officers
  • Increase the special regulatory lending limit on
    loans to executive officers for loans other than
    those for housing, education, and certain secured
    loans to 250,000. (Note Executive officers
    would remain subject to the same limit on
    directors and principal shareholders, the
    loans-to-one-borrower limit.)

23
Title III Tax Relief for Bank Depositors, Rural
Banks, Municipalities, and Banks Organized as
Limited Liability Companies
  • Defer Recognition of Income on Long-Term Deposits
    and Reduce Rate
  • Defer recognition of interest income on long-term
    CDs (CDs with a term of 12 months or more) until
    maturity for individual taxpayers.
  • Reduce top tax rate applied to interest income on
    long-term CDs (CDs with a term of 12 months or
    more) to equal the long-term capital gains rate
    for assets held more than 12 months.
  • Relief for Agricultural and Small-town Mortgage
    Lenders
  • Exempt from taxation income earned on
  • agricultural real estate loans, and
  • mortgage loans in communities of 2,500 or less
    population.

24
Title III Tax Relief for Bank Depositors, Rural
Banks, Municipalities, and Banks Organized as
Limited Liability Companies
  • Increase Muni-Bond Bank Qualified Obligation
    Limits
  • Increase the 10 million expected annual issuance
    limitation to 30 million for tax-exempt
    obligations and index future limitation levels.
  • Provide Limited Liability Company Tax Treatment
    to FDIC-Insured LLCs
  • Direct the Treasury to amend regulation
    301.7701-2(b)(5) to provide limited liability
    corporation tax treatment to banks operating as
    LLCs.
  • Allow existing privately-held banks to convert
    their state or federal charters to an LLC charter
    in a tax-free transaction.1 Create an LLC-level
    tax structure similar to the corporate built-in
    gains tax provisions under IRC 1374 imposed
    upon C Corporations that convert to S Corporation
    status.
  • 1Publicly traded partnerships are treated as
    corporations per IRC 7704(a).

25
Title IV Tax Relief for Community Banks and
Holding Companies
  • Tax Credit for Community Banking
  • Allow a 20 tax credit for banks and bank holding
    companies up to 5 billion in assets (community
    banks). The 20 tax credit would be applied to
    offset the tax liability of community-based C
    corporation banks. The C corporation community
    bank tax credit maximum is not to exceed
    250,000.00. S corporation banks would be able
    to exclude 20 of distributable income not to
    exceed 1,250,000.00 of income.
  • Repeal Alternative Minimum Tax for Community
    Banks
  • Replace the 5 million average annual gross
    receipts threshold for banks with a rule that
    applies the AMT only to banks or bank holding
    companies over 5 billion in assets. For
    purposes of this provision, a bank is any
    institution that satisfies the definition of a
    bank under IRC 581 or is a bank or bank holding
    company that owns a bank.

26
Title IV Tax Relief for Community Banks and
Holding Companies
  • Tax Credit for Community Banking in Distressed
    Areas
  • Create a 50 tax credit for qualified community
    banks and bank holding companies (community
    banks) operating in distressed communities
    and/or designated enterprise or empowerment
    zones, or qualifying New Market Tax Credit Census
    tracts. The 50 tax credit would be applied to
    offset the tax liability of community-based C
    corporation banks. The C corporation community
    bank tax credit maximum is not to exceed
    500,000.00. S corporation banks would be able
    to exclude 50 of income not to exceed
    2,500,000.00 of income. The term distressed
    community' has the meaning given the term
    qualified distressed community' by section 233
    of the Bank Enterprise Act of 1991 (12 U.S.C.
    1834a(b)).'.

27
Co-sponsors of HR 2061
Co-sponsors of H.R. 2061 (as of 7/27/05) Rep. Jim
Ryun (R-KS) Rep. Robert Aderholt (R-AL) Rep.
Rodney Alexander (R-LA) Rep. Bob Beauprez (R-CO)
Rep. Marion Berry (D-AR) Rep. Michael Bilirakis
((R-FL) Rep. Rob Bishop (R-UT) Rep. Marsha
Blackburn (R-TN) Rep. Henry Bonilla (R-TX) Rep.
Jo Bonner (R-AL) Rep. Dan Boren (D-OK) Rep.
Ginny Brown-Waite (R-FL) Rep. Dan Burton
(R-IN) Rep. Charles W. Boustany (R-LA) Rep.
Chris Cannon (R-UT) Rep. Dennis Cardoza (D-CA)
Rep. Henry Cuellar (D-TX)
Rep. Tom Latham (R-IA) Rep. Connie Mack (R-FL)
Rep. Kenny Marchant (R-TX) Rep. Don Manzullo
(R-IL) Rep. Michael McCaul (R-TX) Rep. Patrick
McHenry (R-NC) Rep. Cathy McMorris (R-WA) Rep.
Jerry Moran (R-KS) Rep. Marilyn Musgrave
(R-CO) Rep. Randy Neugebauer (R-TX) Rep. Tom
Osborne (R-NE) Rep. Ron Paul (R-TX) Rep. Stevan
Pearce (R-NM) Rep. Mike Pence (R-IN) Rep. Collin
Peterson (D-MN) Rep. Dennis Rehberg (R-MT) Rep.
Rick Renzi (R-AZ) Rep. Harold Rogers (R-KY) Rep.
Michael Rogers (R-AL) Rep. Loretta Sanchez (D-CA)
Rep. Adam Schiff (D-CA)
Rep. Mike Conaway (R-TX) Rep. Jo Ann Davis
(R-VA) Rep. Lincoln Davis (D-TN) Rep. Nathan
Deal (R-GA) Rep. Thelma Drake (R-VA) Rep. Chet
Edwards (D-TX) Rep. Philip S. English (R-PA)
Rep. Terry Everett (R-AL) Rep. Tom Feeney (R-FL)
Rep. Harold Ford (D-TN) Rep. Paul Gillmor (R-OH)
Rep. Bart Gordon (D-TN) Rep. Virgil Goode (R-VA)
Rep. Katherine Harris (R-FL) Rep. Melissa Hart
(R-PA) Rep. Stephanie Herseth (D-SD) Rep. Peter
Hoekstra (R-MI) Rep. Tim Holden (D-PA) Rep. John
Hostettler (R-IN) Rep. Walter Jones (R-NC) Rep.
Ray LaHood (R-IL)
Rep. John Shimkus (R-IL) Rep. Mike Sodrel
(R-IN) Rep. Lee Terry (R-NE) Rep. Mac Thornberry
(R-TX) Rep. Todd Tiahrt (R-KS) Rep. Patrick
Tiberi (R-OH)
28
ICBA Member Benefits Profitability Solutions
  • ICBA Services Network
  • Bancard
  • Mortgage
  • Financial Services
  • Securities
  • Reinsurance
  • ICBAs Preferred Service Providers
  • Designation exclusive to 18 providers

29
Preferred Services Providers
30
Member Resources
  • Publications
  • Independent Banker Magazine
  • Washington Weekly Report
  • ICBA Information Center
  • Educational Seminars and Products
  • National Convention and Techworld
  • Marketing and Public Relations Materials
  • Affiliated State Associations Outreach

31
Member Resources
  • Specialty Groups
  • Bank Director Program
  • Corporate Associate Membership
  • ICBA Web Site (www.icba.org)
  • Member bank directory
  • Online newsletter, press releases, and
    legislative updates
  • Technology news
  • Helpful links
  • Tools to email your congressional representative
    and local media

32
Mid Atlantic Regional Office2317 Forest Hills
DriveHarrisburg, PA 17112Tel 717-541-0237Fax
717-541-0464e-mail john.mcnair_at_icba.org
ICBA Contact Information
HeadquartersOne Thomas Circle NWSuite
400Washington, DC 20005-5802Tel
800-422-8439Fax 202-659-9216e-mail
info_at_icba.org
Sauk Centre Office518 Lincoln RoadP.O. Box
267Sauk Centre, MN 56378Tel 800-422-7285Fax
320-352-5766e-mail info_at_icba.org
Western Regional Office500 Newport Center Drive,
Suite 960Newport Beach, CA 92660Tel
949-644-2606Fax 949-640-1041e-mail
icbawest_at_icba.org
Rocky Mountain Central Plains Office1057 Argosy
CourtColorado Springs, CO 80921Tel
719-487-7601Fax 719-481-8686email
scott.hall_at_icba.org
Midwest Regional Office1603 22nd Street
102West Des Moines, IA 50266Tel
515-226-3326Fax 515-453-1498e-mail
david.hibbs_at_icba.org
Northeast Regional Office120 Main
StreetLynnfield, MA 01940Tel
781-334-2197e-mail mailtojpettazzoni_at_aol.com
Southeast Regional Office4209 Kinsmon
WayMarietta, GA 30062Tel770-650-9810e-mail
david.moore_at_icba.org
Southwest Regional Office9637 Shadydale
LaneDallas, Texas 75238Tel 214-503-6077e-mail
chip.lynch_at_icba.org
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