Community Bankers try variable pay confab - Atlanta Business Chronicle:

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Pay what you can. In a mailing distributedc to association memberslast week, the trades group is asking members to attend its marqued September convention in Palm Beach, Fla. But if they can’ty pay the full $995 registration fee, well, a littlw less will be alright. The new marketing plan for theCommunit Bankers’ Association signature event is both a sign of the industry’sx woes and the association’s efforts to keep pace withougt canceling its marquee event that was once held in far-flung locationas across the country.
The move stands in contrast with theGeorgiaw Bankers’ Association, the state’s other main trade Unlike the Community Bankers’ plan, the Georgia Bankers cut their convention’s length this year, and held it in rather than cut registration The Community Bankers Association— which caters more toward smaller banks outside metro Atlanta — is offering the same program, but at a negotiabld price. “We looked at a variety of approachews forspurring attendance, and we thought this was the best said trade group CEO Carolyn Brown, who noted bankers paying a reduced rate would be doingh so “on the honor system.
” “We’re not going to checlk behind people,” she said. “We expect them to be honestr abouttheir situation.” The economic though, has forced the association to throw out any projectionsx on how many will be at this year’se conference. With three months to go before the conference kicks offon Sept. 16 at The Breakers beach resort, Brown said the organization’s members are holdingt off on committing to be therd forthe four-day event.
“People are waiting closef to the meeting dateto commit,” she The event typically attractas as many as 700 community bankers, spouses and othert attendees from the Community Bankers’ Association’s membershil roster. But is it for real How low is too lowto attend? $200? $10? Brown said the offer is a sincer one. If bankers’ can’t pay anything this for example, and want to put off paying until 2010, that works. “It is real in my said Brown. “If folks can’t pay the full fee, that’sw fine. We’re an association that’s not pursuing profitas with this.
” is delaying its 2009 annual meetingb indefinitely, until the Securities and Exchange Commission finishes its preliminar review ofthe company’s according to a June 15 filing with the regulator agency. The Gray, Ga.-based bank holding company is askingf shareholders to amend its articles of incorporationb to reduce the number of stock shareholderes below 600 by issuingnew shares, and relieve the companyu of public company reporting requirements. Until the SEC completes the however, the annual meeting will not “At this time, however, we are unablw to provide a reliables estimate as to when this may thefiling stated.
The plan, if would reduce the number of common stocik bank shareholders from 710to 255, and new clas A stock shares would be ownecd by 455 shareholders. Class A shareholders would lose any votintg rights by exchanging each sharde of their common stock for thenew shares, but receivr 105 percent of whatever dividend the bank may pay.