VACB Chairman 2014
Jeff Dick
Chairman, CEO,
and President
MainStreet Bank


Chairman's Letter


The Community Banker Magazine



SNL

Computer Services, Inc.


REGULATORY BURDEN
Community Bankers: Submit Your Comments on EGRPRA to ICBA

The Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA) require that regulations prescribed by the Federal Financial Institutions Examination Council, Office of the Comptroller of the Currency, FDIC and Federal Reserve System be reviewed by the agencies at least once every 10 years. The purpose of this review is to identify outdated, unnecessary or unduly burdensome regulations and to consider how to reduce regulatory burden on insured depository institutions while, at the same time, ensuring their safety and soundness and the safety and soundness of the financial system.

To facilitate this review, the agencies have divided their regulations into twelve subject-matter categories and will publish four requests for comment over a two-year period. The first request deals with three categories-Applications and Reporting, Powers and Activities and International Operations-and comments are due by Sept. 2, 2014. These three categories cover such things as branching, operating subsidiaries, fiduciary activities, investment in securities and bank premises, real estate lending, and the sale of insurance.

A full list of the regulations can be found in the charts that are included in the first request for comments. ICBA Supports this periodic review and is seeking member comments to EGRPRA. Submit comments here.



CALLING ALL MEMBERS!!!
Make Your Plans Now to Attend the VACB Convention




All VACB Members are invited to attend the 37th Annual Convention & Trade Show at the beautiful Hilton Virginia Beach Oceanfront. This year's program is sure to be one of our best! We have a stellar line up of industry speakers and special guests for our Business Sessions, two wonderful off-site excursions, and entertainment that will be sure to please all!

We also have our trade show where our Associate Members will share their latest products, services and offerings with attendees. We are also holding our Deeper Dive sessions Monday afternoon and will again offer special pricing for a one-day Convention Pass for bankers who want to see what VACB is all about!

And if that isn't enough, there will be plenty of networking and fellowship opportunities with peers from all over! But wait...there's more...WE ARE AT THE BEACH!!! Please click HERE for all the Convention information. We look forward to seeing you at the beach for our Convention this October!!



Call To Action!
Take A Stand on Call Report Regulatory Burden.
[ Sign The Petition ]

As call report regulatory burden continues to grow, ICBA Chairman John Buhrmaster and ICBA President & CEO Cam Fine are urging community bank directors, employees and advocates to sign a petition supporting relief from these onerous and excessive quarterly requirements.

As part of ICBA's war on regulatory burden, a recent call report survey calls attention to the fact that the call report has grown to nearly 700 pages of instructions and 80 pages of forms that must be filed with the government every 90 days. It represents burgeoning regulatory overkill that is harming community banks and inhibiting economic growth in communities nationwide. ICBA's petition highlights the increasing complexity of the report and advocates for allowing highly rated, well-capitalized community banks to file a short-form call report twice each year.



VACB Member Banks Excel
Two Local Banks Make SNL Financial's List

For the past half-decade, only 20 banks in the United States have managed to reward investors with cumulative dividend growth of at least 30% and annual 2% increases, according to a recent report from SNL Financial.

A full ten percent (two!) of those banks are VACB Members - Chesapeake Bank of Kilmarnock and Blue Ridge Bank of Luray! Heartiest congratulations to Jeff Szyperski, Monte Layman and their fine teams.



Virginia Business Magazine Recognizes Best Places to Work
Two VACB Member Banks are on the List!

Best companies ranked firms for this year's list based on the results of surveys given to participating companies and their employees. Best Companies analyzed the survey data with a focus on a number of core areas, such as leadership, training, pay and benefits, and overall management. More than 90 Virginia companies signed up to participate.

The companies surveyed were split into three categories; small, medium and large employers. Valley Bank, based in Roanoke, was listed in the Mid-sized employers and Old Point National Bank, based in Hampton, was listed in the large employers listing. Congratulations to the staffs of these wonderful Community Banks!


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