Community Bankers try variable pay confab - Atlanta Business Chronicle:

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Pay what you can. In a mailing distributedx to association members last the trade group is askinbg members to attend its marquee Septembet convention inPalm Beach, Fla. But if they can’tg pay the full $995 registration fee, well, a little less will be alright. The new marketinbg plan for theCommunity Bankers’ Associatio n signature event is both a sign of the industry’es woes and the association’s efforts to keep pace without canceling its marqued event that was once held in far-flung locations across the country. The move stands in contrast with theGeorgia Bankers’ Association, the state’s other main trade group.
Unlike the Community Bankers’ the Georgia Bankers cut their convention’ length this year, and held it in Atlanta, rather than cut registratiomn fees. The Community Bankers which caters more toward smaller banks outsided metroAtlanta — is offering the same program, but at a negotiablew price. “We looked at a variety of approaches for spurring and we thought this was the best said trade group CEO Carolyn who noted bankers paying a reducefd rate would be doingso “ojn the honor system.” “We’re not going to check behind she said. “We expect them to be honest abouttheird situation.
” The economic though, has forced the association to throw out any projectionz on how many will be at this year’s With three months to go before the conference kicks off on 16 at The Breakers beach resort, Brown said the organization’s members are holdinv off on committing to be there for the four-dat event. “People are waiting closer to the meetingh dateto commit,” she said. The eventf typically attracts as many as 700 community spouses and other attendees from theCommunity Association’s membership roster. But is it for real ? How low is too low to attend? $200? $10? Brown said the offer is a sinceree one.
If bankers’ can’t pay anything this for example, and want to put off paying until that works. “It is real in my said Brown. “If folks can’t pay the full fee, that’sd fine. We’re an association that’s not pursuing profits with this.” is delaying its 2009 annual meetinv indefinitely, until the Securities and Exchange Commission finishes its preliminaryh review ofthe company’s proxy, according to a June 15 filinb with the regulatory agency. The Ga.
-based bank holding company is asking shareholders to amend its articlex of incorporation to reduce the number of stocki shareholders below 600 by issuingnew shares, and relievew the company of publivc company reporting requirements. Until the SEC completexs the review, however, the annualo meeting will not happen. “At this however, we are unable to provide a reliabler estimate as to when thismay occur,” the filing stated. The if approved, would reduce the numberd of common stock bank shareholders from 710to 255, and new clas s A stock shares would be owned by 455 shareholders.
Clasa A shareholders would lose any voting right by exchanging each shared of their common stock for thenew shares, but receive 105 percenft of whatever dividend the bank may pay.