ABA Banking Journal - December 2009 - (Page 8) briefing extremely compressed once it begins. The timeframe for making a bid can be from one to two weeks or as little as 48 hours.” Under FDIC’s loss-share agreements, the agency will reimburse 80% of loan losses up to a stated threshold, and 95% above that. The loss share cannot be transferred, said Butters. “There is a potential for a nice return [in a troubled bank deal], but it’s not always easy. We urge our clients to appoint a ‘P&A’ [purchase and assumption] manager, to monitor purchase agreements and loss sharing. It’s almost a full-time job.” BJ ABA ANNUAL MEETING REPORT ABA’s 2009-10 officers (l to r): Chairman-Elect: Stephen P. Wilson, chairman and CEO, LCNB Nat’l. Bank, Lebanon, Ohio; Chairman: Arthur C. Johnson, chairman and CEO, United Bank of Michigan, Grand Rapids; Vice Chairman: Albert C. Kelly, president and CEO, SpiritBank, Bristow, Okla; and Treasurer: William R. White, chairman and president, Dearborn Fed’l Savings Bk., Dearborn, Mich. Protesters had the wrong crowd lowed on its heels. In fact, they were hurt by it themselves. The ome of the signs were hand lettered, some preprinted. One protesters either did not know—or did not care—about that. As was not really a sign at all, but a giant circle of fabric, held ABA President Edward Yingling observed in his convention by about 20 people much like a fireman’s net. On the top of this circle was printed: “Hold Banks Accountable! Reclaim America”— address, the meltdown resulted from the practices of mortgage brokers and Wall Street meant to be read by giants such as Lehman people looking out of Brothers and AIG, among windows, no doubt (not others, as well as from to mention TV news helimisguided government copters). They were part policies, not from the of a group of about business of traditional 2,000 demonstrators banks—accepting marching in Chicago to deposits and making send bankers a message. loans in their communiEvery time the marchers ties. paused, the group with Said ABA Chairman the fabric circle would Arthur Connelly, tradibegin rotating in place, tional banks—the vast chanting the slogan on majority of the country’s their “banner.” There 8,000 commercial banks was even a brass band to and savings institulend a little pomp to the Scene from the protest outside the hotel where ABA was holding its Annual Meeting. tions—did not make circumstance. Chicago police estimated the number of demonstrators to be about 2,000. subprime loans; did not When the caravan take big bonuses for products that later blew up; did not leverfinally assembled in front of the Chicago Sheraton, where the age themselves 30 to 1; did not give triple A ratings to toxic ABA Annual Meeting was taking place, speaker after speaker junk; and did not bet their future on credit default swaps. harangued the bankers for taking a taxpayer bailout and using it to pay huge bonuses, instead of lending money to the average Joe. Occasional ringing sentences prompted roars of approval, A meeting in lockdown punctuated by whistles, bells, horns, and hundreds of signs jigThe protesters may have had the wrong target, but ABA took ging up and down. special precautions to make sure they did not disrupt the meetProblem was, the protest, put together by a group of labor, ing. The extra security, including a special convention badge consumer activist, and religious organizations, was aimed at the with a hologram, kept the proceedings free of protesters, though wrong target. The organizers should have pointed their chartered all the anticipation and precautions kept the meeting abuzz. Yinbuses toward Wall Street. But the annual gathering of the Amerigling, who has been the target of protests back in Washington, can Bankers Association made a convenient and tempting target, and singled out for verbal attacks, said he’s learned to take it all so that’s where they congregated. in stride. The irony of this orchestrated outrage—some of it heartfelt, “I have been called all kinds of names by TV commentators, certainly—was that the 1,500 attendees gathered in the Windy columnists, and bloggers,” he told the bankers. “And there will City for ABA’s Annual Meeting, Oct. 25-28, were not responsible be more to come. This type of negative discourse is, unfortufor the financial crisis of 2008 nor the deep recession that folnately, the way it is these days. But we will not be deterred.” S DECEMBER 2009/ABA BANKING JOURNAL Subscribe at www.ababj.com http://www.ababj.com Table of Contents for the Digital Edition of ABA Banking Journal - December 2009 ABA Banking Journal - December 2009 Contents Editor's Column Briefing ABA Resources ABA Chairman's Position Community Banking Pass the Aspirin CRE Pain Fraud Looms Large on BSA Menu Tech Topics Compliance Clinic Mailbox The Economy ABA Banking Journal - December 2009 ABA Banking Journal - December 2009 - ABA Banking Journal - December 2009 (Page Cover1) ABA Banking Journal - December 2009 - ABA Banking Journal - December 2009 (Page Cover2) ABA Banking Journal - December 2009 - Contents (Page 1) ABA Banking Journal - December 2009 - Editor's Column (Page 2) ABA Banking Journal - December 2009 - Editor's Column (Page 3) ABA Banking Journal - December 2009 - Editor's Column (Page 4) ABA Banking Journal - December 2009 - Briefing (Page 5) ABA Banking Journal - December 2009 - Briefing (Page 6) ABA Banking Journal - December 2009 - Briefing (Page 7) ABA Banking Journal - December 2009 - Briefing (Page 8) ABA Banking Journal - December 2009 - ABA Resources (Page 9) ABA Banking Journal - December 2009 - ABA Chairman's Position (Page 10) ABA Banking Journal - December 2009 - ABA Chairman's Position (Page 11) ABA Banking Journal - December 2009 - Community Banking (Page 12) ABA Banking Journal - December 2009 - Community Banking (Page 13) ABA Banking Journal - December 2009 - Pass the Aspirin (Page 14) ABA Banking Journal - December 2009 - Pass the Aspirin (Page 15) ABA Banking Journal - December 2009 - CRE Pain (Page 16) ABA Banking Journal - December 2009 - CRE Pain (Page 17) ABA Banking Journal - December 2009 - CRE Pain (Page 18) ABA Banking Journal - December 2009 - CRE Pain (Page 19) ABA Banking Journal - December 2009 - CRE Pain (Page 20) ABA Banking Journal - December 2009 - CRE Pain (Page 21) ABA Banking Journal - December 2009 - Fraud Looms Large on BSA Menu (Page 22) ABA Banking Journal - December 2009 - Fraud Looms Large on BSA Menu (Page 23) ABA Banking Journal - December 2009 - Fraud Looms Large on BSA Menu (Page 24) ABA Banking Journal - December 2009 - Fraud Looms Large on BSA Menu (Page 25) ABA Banking Journal - December 2009 - Fraud Looms Large on BSA Menu (Page 26) ABA Banking Journal - December 2009 - Fraud Looms Large on BSA Menu (Page 27) ABA Banking Journal - December 2009 - Tech Topics (Page 28) ABA Banking Journal - December 2009 - Tech Topics (Page 29) ABA Banking Journal - December 2009 - Tech Topics (Page 30) ABA Banking Journal - December 2009 - Tech Topics (Page 31) ABA Banking Journal - December 2009 - Compliance Clinic (Page 32) ABA Banking Journal - December 2009 - Compliance Clinic (Page 33) ABA Banking Journal - December 2009 - Mailbox (Page 34) ABA Banking Journal - December 2009 - Mailbox (Page 35) ABA Banking Journal - December 2009 - The Economy (Page 36) ABA Banking Journal - December 2009 - The Economy (Page Cover3) ABA Banking Journal - December 2009 - The Economy (Page Cover4) http://www.nxtbook.com/nxtbooks/sb/ababj0513 http://www.nxtbook.com/nxtbooks/sb/ababj0413 http://www.nxtbook.com/nxtbooks/sb/ababj0313 http://www.nxtbook.com/nxtbooks/sb/ababj0213 http://www.nxtbook.com/nxtbooks/sb/ababj0113 http://www.nxtbook.com/nxtbooks/sb/ababj1212 http://www.nxtbook.com/nxtbooks/sb/ababj1112 http://www.nxtbook.com/nxtbooks/sb/ababj1012 http://www.nxtbook.com/nxtbooks/sb/ababj0912 http://www.nxtbook.com/nxtbooks/sb/ababj0812 http://www.nxtbook.com/nxtbooks/sb/ababj0712 http://www.nxtbook.com/nxtbooks/sb/ababj0612 http://www.nxtbook.com/nxtbooks/sb/ababj0512 http://www.nxtbook.com/nxtbooks/sb/ababj0412 http://www.nxtbook.com/nxtbooks/sb/ababj0312 http://www.nxtbook.com/nxtbooks/sb/ababj0212 http://www.nxtbook.com/nxtbooks/sb/ababj0112 http://www.nxtbook.com/nxtbooks/sb/ababj1211 http://www.nxtbook.com/nxtbooks/sb/ababj1111 http://www.nxtbook.com/nxtbooks/sb/ababj1011 http://www.nxtbook.com/nxtbooks/sb/ababj0911 http://www.nxtbook.com/nxtbooks/sb/ababj0811 http://www.nxtbook.com/nxtbooks/sb/ababj0711 http://www.nxtbook.com/nxtbooks/sb/ababj0611 http://www.nxtbook.com/nxtbooks/sb/ababj0511 http://www.nxtbook.com/nxtbooks/sb/ababj0411 http://www.nxtbook.com/nxtbooks/sb/ababj0311 http://www.nxtbook.com/nxtbooks/sb/ababj0211 http://www.nxtbook.com/nxtbooks/sb/ababj0111 http://www.nxtbook.com/nxtbooks/sb/ababj1210 http://www.nxtbook.com/nxtbooks/sb/ababj1110 http://www.nxtbook.com/nxtbooks/sb/ababj1010 http://www.nxtbook.com/nxtbooks/sb/ababj0910 http://www.nxtbook.com/nxtbooks/sb/ababj0810 http://www.nxtbook.com/nxtbooks/sb/ababj0710 http://www.nxtbook.com/nxtbooks/sb/ababj0610 http://www.nxtbook.com/nxtbooks/sb/ababj0510 http://www.nxtbook.com/nxtbooks/sb/ababj0410 http://www.nxtbook.com/nxtbooks/sb/ababj0310 http://www.nxtbook.com/nxtbooks/sb/ababj0210 http://www.nxtbook.com/nxtbooks/sb/ababj0110 http://www.nxtbook.com/nxtbooks/sb/ababj1209 http://www.nxtbook.com/nxtbooks/sb/ababj1109 http://www.nxtbook.com/nxtbooks/sb/ababj1009 http://www.nxtbook.com/nxtbooks/sb/ababj0909 http://www.nxtbook.com/nxtbooks/sb/ababj0809 http://www.nxtbook.com/nxtbooks/sb/ababj0709 http://www.nxtbook.com/nxtbooks/sb/ababj0609 http://www.nxtbook.com/nxtbooks/sb/ababj0509 http://www.nxtbook.com/nxtbooks/sb/ababj0409 http://www.nxtbook.com/nxtbooks/sb/ababj0309 http://www.nxtbook.com/nxtbooks/sb/ababj0209 http://www.nxtbook.com/nxtbooks/sb/ababj0109 http://www.nxtbook.com/nxtbooks/sb/ababj1208 http://www.nxtbook.com/nxtbooks/sb/ababj1108 http://www.nxtbook.com/nxtbooks/sb/ababj1008 http://www.nxtbook.com/nxtbooks/sb/ababj0908 http://www.nxtbook.com/nxtbooks/sb/ababj0808 http://www.nxtbook.com/nxtbooks/sb/ababj0708 http://www.nxtbook.com/nxtbooks/sb/ababj0608 http://www.nxtbook.com/nxtbooks/sb/ababj0508 http://www.nxtbook.com/nxtbooks/sb/ababj0408 http://www.nxtbook.com/nxtbooks/sb/ababj0308 http://www.nxtbook.com/nxtbooks/sb/ababj0208 http://www.nxtbook.com/nxtbooks/sb/ababj-compsurv08 http://www.nxtbook.com/nxtbooks/sb/ababj0108 http://www.nxtbook.com/nxtbooks/sb/ababj1207 http://www.nxtbook.com/nxtbooks/sb/ababj1107 http://www.nxtbook.com/nxtbooks/sb/ababj1007 http://www.nxtbook.com/nxtbooks/sb/ababj0907 http://www.nxtbook.com/nxtbooks/sb/ababj0807 http://www.nxtbook.com/nxtbooks/sb/ababj0707 http://www.nxtbook.com/nxtbooks/sb/ababj0607 http://www.nxtbook.com/nxtbooks/sb/ababj-jackhenry http://www.nxtbook.com/nxtbooks/sb/ababj0507 http://www.nxtbook.com/nxtbooks/sb/ababj0407 http://www.nxtbook.com/nxtbooks/sb/ababj0307 http://www.nxtbook.com/nxtbooks/sb/ababj-compsurv07 http://www.nxtbook.com/nxtbooks/sb/ababj0207 http://www.nxtbook.com/nxtbooks/sb/ababj0107 http://www.nxtbook.com/nxtbooks/sb/ababj1206 http://www.nxtbook.com/nxtbooks/sb/ababj06corebanking http://www.nxtbook.com/nxtbooks/sb/ababjcompsurv2006 http://www.nxtbookMEDIA.com
For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.