Week of June 16

June 16, 2020

In This Issue…

This week’s OBA Tuesday Teams call, featuring Rep. Tom Cole, available for download
Oklahoma Bankers Hall of Fame taking nominations for 2020 inductees
Bank performance shows some stress over first quarter as banks deal with COVID-19
OBA recommends Abrigo PPP Forgiveness & Administration solution
Salary and Cash Compensation Survey looking for respondents
OBA education corner …

This week’s OBA Tuesday Teams call, featuring Rep. Tom Cole, available for download

The OBA is hosting twice monthly conference calls to discuss various banking issues, from the COVID-19 pandemic to fraud to general issues. The latest call took place this morning.

Rep. Tom Cole, Oklahoma’s 4th district congressman, was today’s guest, discussing several Paycheck Protection Program issues, as well as political events.

To download/listen to the teleconference call, click here.

To register for future calls, contact Jeremy or Megan at the OBA!

Oklahoma Bankers Hall of Fame taking nominations for 2020 inductees

The OBA will be taking nominations for 2020 Oklahoma Bankers Hall of Fame inductees through the middle of July.

The Hall of Fame was created by the OBA Board of Directors to honor individual bankers for their contributions to the banking industry and the State of Oklahoma.

In addition, the Hall of Fame is intended to recognize bankers’ achievements on behalf of the Association’s member banks.

Bankers make a difference in their communities every day. To rise to the level required for induction into the Hall of Fame, the nominating committee for the Hall will examine whether the individual banker has made a difference beyond their local community. The Hall of Fame will also preserve the unique history of Oklahoma’s banking greats.

The following criteria will be considered by the nominating committee when selecting individuals to be nominated for selection to the Hall of Fame:

Affiliation (past or present) with an Association member bank.
Service on boards or committees of the Association.
Participation in the activities of banker trade associations at the national level, such as the American Bankers Association and Independent Community Bankers of America.
Contributions to the development, improvement and growth of the banking industry in Oklahoma.
Whether the individual has had a significant impact on the manner in which financial services are provided to consumers.
The individual has demonstrated the importance of community involvement and participation in the work of various community groups at the local, state and national levels.
The number of years of service to the state and the industry.

Nominations for induction into the Oklahoma Bankers Hall of Fame may be made by any bank employee of an OBA-member bank. There is no limit on the number of nominees that can be presented to the nominating committee in any given year. Nominees may be either living or deceased.

Nomination forms are available by clicking here and can also be obtained by calling the Association (405/424-5252) or emailing info@oba.com. Anyone who was on the ballot previously but not elected will automatically be included with applications received this year for ballot selection by the Nominating Committee. They don’t need to do anything but are welcome to ‘update’ their application if they’d like. The application and other helpful information are available on our website.

Note: The deadline for receipt of applications is July 15, 2020.

Bank performance shows some stress over first quarter as banks deal with COVID-19

Numbers released today for the banking industry show that, at the end of March, profitability for the industry as a whole was down roughly 9 percent from the previous year, and 21.5 percent compared to 2018.

As the number of individual banks continues to drop, total banking assets across the state continue to grow.

At the end of the first quarter, the state’s total banking assets are up over last year by nearly 13 percent, while the number of banks is down by 4.45 percent compared to this same time last year.

“We’re thinking the second quarter results will be better,” OBA’s EVP/Government Relations Adrian Beverage said. “But that will depend in large part on whether banks participating in the (Payroll Protection Program) ever get paid the money they are owed for originating those loans. Unfortunately, that’s been a bit of a problem up to this point.”

Through June 12, Oklahoma banks have made 62,323 PPP loans totaling $ 5.4 billion. Total loan count across the country stands at 4,576,388 loans, totaling more than $512 billion. OBA member bank JPMorgan Chase has made the most loans, while smaller community banks – like the majority of OBA-member banks in Oklahoma – have accounted for 44 percent of the total funding for PPP loans.

OBA recommends Abrigo PPP Forgiveness & Administration solution

Banks funding Paycheck Protection Program loans as part of the CARES act have come to the aid of their communities as they deal with the effects of the coronavirus.

Now, banks are shifting gears, and looking ahead to the forgiveness and administration of these loans.

After receiving a few requests from member banks, the OBA has chosen to recommend the Abrigo PPP Forgiveness & Administration solution. By using Abrigo’s automated PPP loan forgiveness solution, banks are provided with the software to manage the full lifecycle of the PPP loan, from loan forgiveness calculations to auto-populating Form 3508, allowing banks to spend less time dealing with manual processes and more time helping their small business borrowers.

Abrigo has helped more than 275 financial institutions fund over $13 billion in PPP loans. Banks that are not currently leveraging Abrigo can start leveraging the PPP Forgiveness & Administration solution in less than 48 hours.

Abrigo and the OBA together had a special demonstration just for members of the OBA on June 15 to see how the automation and technology can play a key role in helping our member banks manage the forgiveness process. To review the recording of this special webinar, visit this link: https://abrigo.wistia.com/medias/hwvrrlsc47.

To request information from Abrigo, click here.

Salary and Cash Compensation Survey looking for respondents

Blanchard Consulting Group would like to invite you to participate in our 2020 Salary and Cash Compensation Survey. This annual survey gathers salary and cash compensation (salary + annual cash incentive/bonus) data for 25 executive positions and over 150 middle management and staff level positions. Data cuts will be broken out by asset size and region when we have a large enough sample size. Below is the pricing for the 2020 Salary and Cash Compensation Survey results (survey findings will be provided via email in PDF format):

OBA Member & Participant: $300.
OBA Member & Non-Participant: $600.
Non-OBA Member & Non-Participant: $800

To complete the survey, please click on the link below. Download the excel file and email the completed survey to surveys@blanchardc.com by Friday, June 19.

2020 Salary and Cash Compensation Survey Link

If you would like to pre-order your copy of the survey or if you have any survey questions, please contact Laura Roth at surveys@blanchardc.com or 612-886-1225.

OBA education corner …

While live events and seminars are few and far between during the summer, the OBA’s education department has plenty of webinars lined up. You can download a flyer highlighting upcoming webinars by clicking here, or just peruse below for those coming soon!

NOTE: Effective March 16, and until further notice, TTS (our webinar provider) has extended the OnDemand access period for all ‘Live Plus Five (Days)’ registrants to 60 days (versus five business days). Also, they are waiving the $75 per location fee for additional locations.

Today’s Information Security Officer: Roles and Responsibilities, June 23, webinar — While once thought to be a technology function the role was typically delegated to the IT Manager or Officer but today the ISO is to be independent of IT operations and report directly to the board, board committee or senior management.
HMDA Hot Spots, June 24, webinar — This webinar will take a look at the areas that cause the most confusion and can cause pitfalls along the way. Get your bank on the right track!
Handling Deceased Accounts and Checks, June 25, webinar — During this program, we will look at the checks and all the questions you get asked every day. Insurance checks, treasury checks and regular checks, what are you supposed to do and what can you do to help the account holder and his or her family.
Total TRID Training, Four-Part Webinar, June 25, June 30, July 6, July 10 (attend one or all!) — This four-part program provides a very comprehensive review of the TRID rules, the Loan Estimate (LE), and the Closing Disclosure (CD). Whether you are new to TRID or a veteran seeking a review of the requirements this program will meet your needs.
Dealing With Subpoenas, Summons, Etc., July 7, webinar — This webinar will provide attendees with the best practices and red flags for dealing with the various legal documents served upon financial institutions. This webinar does NOT discuss the procedures mandated by particular state laws.
Best-Ever Compliance Checklists for Consumer Loans, July 7, webinar — The checklists will chronologically lead lenders and processors through the various lending compliance requirements, and financial institutions that properly use these checklists will virtually eliminate compliance errors.
Escrow Accounts Compliance, July 8, webinar — Compliance with the escrow requirements can be tricky as the rules are vague, some terms are not defined and some investors make up rules that contradict the regulatory requirements.
2020 OBA Compliance School, Aug. 24-28, Oklahoma City — Students will return to their banks equipped to deal with compliance regulations that impact lending practices and deposit functions as well as other related federal and state laws and regulations.

Finally, GSB-Madison has updated its list of upcoming online classes for this summer. you can see what’s on the docket by clicking here!