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Reflecting on 2017-18

From paBanker Magazine's 2018 Q3 Edition: Volume 20.3

With the beginning of the new fiscal year comes a time for reflection. We have had plenty of exciting changes and success at the PA Bankers Services Corporation (Services Corp.), our for-profit subsidiary,
over the last year.

Thanks to our members’ participation in the program, the Services Corp. returned approximately $600,000 to the association, allowing over $58,000 to be used for sponsorships at our professional development programs and events.

Not only did our members’ support aid in financial success for the Services Corp., but it also helped to improve the quality of several of its divisions.

paBanker Magazine
With the approval of the Services Corp. Board, we made the strategic decision to reduce the number of paBanker magazine editions to four per year, which will allow us to more efficiently and effectively
deliver content to our readers. This decision was driven by data received through our 2016 readership survey as the preferred frequency for distribution.

Additionally, after many requests, we increased the distribution list of the magazine to include all upper-level management. With that being said, if you are new to paBanker magazine, we welcome you, and we look forward to sharing the story of our association and the industry with you through each edition moving forward.

Bank Health Care Consortium of PA
The Bank Health Care Consortium of PA celebrated its tenth year of providing a unique health care funding program for banks and Affiliate Members last year.

The consortium had a record-breaking year as 34 PA Bankers members participated in it in 2017, covering approximately 10,000 lives and receiving $8,918,710 in surplus for the plan year ending Sept. 30, 2017.

Title Insurance
In 2017-18, a record 29 financial institutions shared in financial success as members of the multi-bank-owned title agencies located in central and southwest Pennsylvania. If your institution would like to learn more about our title insurance agencies, please consider joining us for an informational meeting hosted by Investors Title and the Services Corp., immediately preceding the association’s Lending
Conference on Nov. 14 at The Hotel Hershey.

Select Vendor Program
The Select Vendor Program had another successful year as well.

Since August 2017, the Services Corp. Board approved four new Select Vendors to add to its wide range of products and services, bringing the total number of vendors in the program to 29 as of July 1. The new vendors bring database marketing, Educational Improvement Tax Credits (EITC) expertise, contract negotiation and captive insurance capabilities to the Services Corp.

Anderson Group
Anderson Group offers a wide range of business intelligence capabilities and builds and executes targeted deposit and business banking strategies through a specialized process utilizing bank data. This process ultimately helps grow core and business banking deposits and merchant services, among other areas.

Through customized database development, database marketing and real-time predictive data analysis services, Anderson Group can help institutions to improve reporting, supercharge analytics and make
marketing and business development work for them.

Commonwealth Charitable Management
Through its successful and long-standing partnership with Select Vendor EVERFI, Commonwealth Charitable Management has been offering Educational Improvement Tax Credits (EITC) program management expertise to participating financial institutions for more than 14 years.

Now with a new brand, Commonwealth Charitable Management is expanding its services to banks statewide, and more members will be able to reduce administrative time and cost by:

  • Leveraging EITC for their sponsorship;
  • Acting as an administrator for all three aspects of
    EITC: Pre-K Scholarship Organizations, Scholarship
    Organizations and Educational Improvement
    Organizations (EIOs);
  • Providing Community Reinvestment Act (CRA)
    certification for contributions;
  • Enabling financial institutions to strategically
    identify specific schools, districts or programs to
    support; and
  • Administering financial institutions’ programs on
    their behalf, from application to the Pa. Department
    of Community & Economic Development, to
    distribution and reporting.

Cornerstone Advisors
Cornerstone Advisors (Cornerstone) is a multidisciplinary advisory firm that has worked with banks over the past two decades to achieve their most challenging and ambitious goals. Cornerstone’s team
of contract negotiators leverage their deep market knowledge, proven methodologies and proprietary pricing data to provide an objective analysis on how a bank’s vendor contracts compare to current
market pricing and terms. Cornerstone will negotiate directly with vendors on behalf of banks to achieve the most competitive pricing and favorable terms.

KeyState Captive Management
KeyState offers banks with over $1 billion in assets the opportunity to form a wholly-owned captive insurance company through its Bank Captive Program. Through a captive insurance company, or a legally licensed limited purpose property and casualty insurance company, banks can improve their enterprise risk management; better manage unfunded risks; formalize a self-insurance program; realize efficiencies and savings related to insurance expenses and loss mitigation; and take advantage of a small business incentive available under a section of the Tax Code.

Please visit pages 46-47 to see our full list of Select Vendors.

These improvements would not have been possible without the support of our members and the dedication of our staff and the 13 board members of the Services Corp.

I would like to personally thank the Services Corp. board’s outgoing chair, Scott Daum, president and CEO of First United National Bank, for his service over the last two years. Scott led the Services Corp.
to a successful year last year, and he made it his mission to bring the best products and services to our members.

Filling Scott’s role will be Services Corp. board member, Steven (Steve) G. Fisher, senior executive vice president of Northwest Bank. We are looking forward to working with Steve as we continually improve and grow the Services Corp.’s offerings. Please join me in welcoming Steve into his new position.

As we continue to identify, evaluate and approve the products and services that best meet the needs of our members, I remind you that the Services Corp. exists to benefit your institution and to help you to get the most out of your membership investment. To help us improve our offerings and learn more about the Services Corp.’s products and services, I would ask that you consider inviting Cindy Wallett, managing director, PA Bankers Services Corporation; Wayne Whipple, VP, business development; or me to attend an executive meeting. Our team would be happy to discuss the many ways that the Services Corp. can assist your institution.

However, you can also learn more right from your desktop by joining us for our vendor webinars. Throughout the year, our Select Vendors offer complimentary webinars to our members to showcase specific offerings and benefits. We regularly communicate these webinars in our Association Matters newsletter. If you have not already subscribed to our newsletters, please do so by visiting www.pabanker.com.

Your support of the Services Corp. is critical to the success and sustainability of the association. Please consider its offerings as you do your vendor due diligence this year. We thank you for your consideration, as with greater member use of our for-profit subsidiary, we can continue to improve the offerings of the association for many years to come.

By demonstrating a shared commitment to this industry, we will make an even bigger difference, together.

Thank you.

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Duncan Campbell
President & CEO