November 15, 2004 Vol. 1, No.
1
NEW — A Mutual Exchange, a monthly electronic newsletter for
mutual institutions. America’s Community Bankers is as committed to
mutual banks as you are to serving your community. ACB represents
over 90% of the mutuals in this country. We hope that this monthly
update will keep you current on the issues facing mutual
institutions. We welcome your feedback. Please email
[email protected] with your thoughts, comments and
suggestions.
ACB Seeks FDIC, PCAOB Relief
For Community Banks
America’s Community Bankers has asked the FDIC and the Public Account
Oversight Board to consider relief for community banks from new
internal control reporting and attestation requirements. Click
here
to read the full story.
OTS Set To Issue MHC Proposal
OTS has announced that it will issue a proposal to revise its mutual
holding company regulations. This proposal will update the
regulations to make them more understandable and easier to work
with. ACB will provide additional details as they become available.
Committee Airs Issues
Facing Mutual Banks
A question-and-answer session with a key regulator and an update on
the status of rules for accounting for combinations were among the
highlights of the meeting of the Mutual Institutions Committee at
ACB’s Annual Convention. Click
here to read the full story.
Mutuality Has Clear Role In 21st Century
A panel discussion during a concurrent session at ACB’s Annual
Convention concluded that the mutual charter is the best choice for
many community banks. Panelists suggested that mutuals should take a close look both at
their charter and bylaws, and review the various charter options
available to them. Click
here for the full story.
Committee To Meet In New York
ACB’s Mutual Institutions Committee will meet in New York City on
Sunday, December 5, 2004 at 2 p.m. This meeting will be held at The
Waldorf=Astoria Hotel in conjunction with ACB’s Winter Bank Management
Forum. FDIC Director Thomas Curry will participate. This
meeting will be the first chaired by Steve Swiontek, chairman,
president & CEO of Gate City Bank in Fargo, N.D. The committee’s
vice chairman will be Bill Gothorpe, president & CEO of Dedham
Institution for Savings, Dedham, Mass. If you would like to attend
the Mutual Institutions Committee meeting or join the committee,
please email us at
[email protected].
Mutual Community Bank
Day — March 14, 2005
Mark your calendars for Mutual Day. Come to Washington to meet with
regulators, lawmakers, their staff, and your peers to discuss issues
of importance to mutual institutions and mutual holding companies.
This is an important forum for keeping the time-tested values of
mutuality in front of Congress and the banking regulatory agencies.
Registration is complimentary.
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We welcome your article submissions for future editions of the
newsletter. Email
[email protected] with your ideas.
If you would like your staff members or a colleague to
receive this newsletter, please send their names, bank name and
individual e-mail addresses to
[email protected].
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