Community Bankers try variable pay confab - Atlanta Business Chronicle:

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Pay what you can. In a mailing distributed to associatiob memberslast week, the trade group is asking membersw to attend its marquee September convention in Palm Beach, Fla. But if they can’g pay the full $995 registration fee, well, a littl less will be alright. The new marketing plan for the Community Bankers’ Association signature event is both a sign of the industry’ws woes and the association’s efforts to keep pace withou canceling its marquee 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 tradwe group.
Unlike the Communituy Bankers’ plan, the Georgia Bankerx cut their convention’s length this and held it in Atlanta, ratheer than cut registration fees. The Communithy Bankers Association— which caters more toward smaller banks outside metro Atlanta is offering thesame program, but at a negotiablde price. “We looked at a variety of approaches forspurrinyg attendance, and we thoughtg this was the best approach,” said trade group CEO Carolyn who noted bankers paying a reducec rate would be doing so “on the honor system.” “We’re not goiny to check behind she said. “We expect them to be honest abouttheid situation.
” The economic turmoil, though, has forced the associationn to throw out any projections on how many will be at this year’zs conference. With three months to go before the conferencr kicks offon Sept. 16 at The Breakers beac h resort, Brown said the organization’s members are holdint off on committing to be therwe forthe four-day event. “People are waiting closef to the meeting date to she said. The event typically attracts as many as 700communith bankers, spouses and other attendeew from the Community Bankers’ Association’a membership roster. But is it for real ? How low is too low to attend $200? $10? Brown said the offef is a sincere one.
If can’t pay anything this year, for example, and want to put off payingt until 2010, that works. “It is real in my said Brown. “If folks can’t pay the full fee, that’es fine. We’re an association that’s not pursuing profite with this.” is delayinfg its 2009 annual meeting indefinitely, until the Securities and Exchangre Commission finishes its preliminary review ofthe company’es proxy, according to a June 15 filing with the regulatory agency. The Gray, Ga.
-based bank holding company is askint shareholders to amend its articles of incorporation to reduce the number of stock shareholderz below 600 by issuingnew shares, and relievse the company of public company reportinf requirements. Until the SEC completes the review, however, the annual meeting will not happen. “At this time, we are unable to provide a reliable estimatw as to when thismay occur,” the filint stated.
The plan, if approved, wouldc reduce the number of common stock bank shareholderxs from 710to 255, and new class A stoc shares would be owned by 455 Class A shareholders would lose any votingt rights by exchanging each share of theirr common stock for the new but receive 105 percent of whatevedr dividend the bank may pay.