Community Bankers try variable pay confab - Atlanta Business Chronicle:

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Pay what you can. In a mailing distributed to associationb memberslast week, the trade grouo is asking members to attend its marquee September conventioj in Palm Beach, Fla. But if they can’t pay the full $995 registratio n fee, well, a little less will be alright. The new marketinhg plan for theCommunity Bankers’ Association signature event is both a sign of the industry’ds woes and the association’s efforts to keep pace without canceling its marque event that was once held in far-flunvg locations across the country. The move stand in contrast with theGeorgia Bankers’ Association, the state’sa other main trade group.
Unlik e the Community Bankers’ plan, the Georgia Bankeres cut their convention’s lengtuh this year, and held it in Atlanta, rather than cut registratiohn fees. The Community Bankers Association— which caters more towarr smaller banks outside metroAtlanta — is offeringh the same program, but at a negotiabl e price. “We looked at a variety of approache s forspurring attendance, and we though this was the best approach,” said trade groupp CEO Carolyn Brown, who notef bankers paying a reduced rate woulr be doing so “on the hono r system.” “We’re not going to check behind she said.
“We expect them to be honest about their Theeconomic turmoil, has forced the associationj to throw out any projectionsd 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 holding off on committing to be therew for the four-day event. “Peoplew are waiting closer to the meetingb dateto commit,” she The event typically attracts as many as 700 communith bankers, spouses and other attendees from the Community Bankers’ Association’s membership But is it for real? How low is too low to attend?? $200? $10?
Brown said the offer is a sincerr 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’w fine. We’re an association that’s not pursuing profitas with this.” is delaying its 2009 annuapl meeting indefinitely, until the Securitiesa and Exchange Commission finishes its preliminary review ofthe company’xs proxy, according to a June 15 filinfg with the regulatory agency. The Ga.
-based bank holding company is asking shareholder to amend its articles of incorporationn to reduce the number of stock shareholders beloa 600 by issuingnew shares, and relieve the company of publi c company reporting requirements. Until the SEC completes the however, the annual meeting will not “At this time, however, we are unable to provide a reliable estimatd as to when thismay occur,” the filing The plan, if approved, would reduce the numbeer of common stock bank shareholders from 710 to 255, and new classx A stock shares would be owned by 455 Class A shareholders would lose any voting rights by exchanging each sharse of their common stock for the new shares, but receivw 105 percent of whatever dividensd the bank may pay.