Community Banker Alert
To: All PACB Members
From: Frank A. Pinto, President/CEO
Subject: Mark-to-Market Issue Update
Date: March 13, 2009
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| PACB Chairman Tom Bailey, pictured on the far right, gave testimony as the only community banker in the Mark-to-Market hearing in Washington on March 12. Also pictured from left to right are: Bill Miller of the Federal Home Loan Bank of Pittsburgh, PACB President/CEO Frank A. Pinto, Congressman Paul Kanjorski, and PACB Secretary/Treasurer Chuck Leyh of Enterprise Bank.
PACB would like to thank all our members for their outpouring of support in response to both the FDIC Special Assessment issue and the Mark-to-Market issue. Please take time to rejuvenate your inspiration with the following letters: Letter to Congressmen Frank and Kanjorski on Mark-to-Market from Dorothy Jaworski of First Federal of Bucks County. Letter to Congressman Dent on the FDIC Special Assessment from Joe Svetik of First Star Bank. Keep up the good work! |
To: All PACB Members
From: Frank A. Pinto, President/CEO
Subject: PACB Leadership on Mark-to-Market Issue
Date: March 10, 2009
Last fall, PACB established a special Task Force on mark-to-market issues led by PACB Chairman Tom Bailey of Brentwood Bank, PACB Secretary/Treasurer Chuck Leyh of Enterprise Bank, PACB Legislative Committee Chairman Ted Peters of Bryn Mawr Trust Company, PACB Board Member Deb Takes of Harleysville National Bank & Trust Co., and CFO of C&G Savings Bank Charles Taylor.
This group has been working diligently seeking solutions to the current economic crisis. The two attached documents reflect the efforts of our Task Force. The letter to Congressmen Barney Frank and Spencer Bacchus, signed by PACB and its national coalition partners offers common-sense solutions.
PACB Chairman Tom Bailey of Brentwood Bank is the only community banker in the nation invited to testify on Thursday, March 12 at Congressman Paul Kanjorski’s crucial hearing in front of the Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises of the House Financial Services Committee. Please read Tom’s testimony that resulted from the cooperation of our Task Force and the Federal Home Loan Banks of Pittsburgh, Des Moines, and others.
Both documents clearly demonstrate that PACB is out in front, protecting your interests in Washington, D.C., and Harrisburg—everyday. Also, please note that PACB was the only statewide trade association from ANY industry actively involved in presenting Congress with reasonable solutions to the current economic crisis.
For months, PACB has been telling Washington what needs to be done to stop and reverse our economic crisis—from the Open Letter to Obama, to our 7 Principles of Action, to our coalition letter to Congressmen Frank and Bacchus, to our testimony on mark-to-market. And you know what? Washington is finally listening! PACB pledges to continue its leadership on these issues and actively work to promote and protect community banking.