News

Net income at Oklahoma banks increased by more than 50% overall from the second quarter to the third quarter of 2021. The FDIC’s latest Quarterly Banking Profile, which was released in late November, showed good news for Oklahoma banks. After reporting $999 million in profits through the end of the second quarter, Oklahoma commercial banks showed more than $1.5 billion …

In November, the NFIB Small Business Optimism Index rose 0.2 points to 98.4. The Uncertainty Index fell 4 points to 63 points. Business owners intend to generate new employment at a seasonally adjusted net 25.0%, down 1 point from the previous month. The percentage of business owners who believe now is a favorable time to expand remained unchanged from the …

In This Issue… OBA taking donations for tornado victims OCC nominee withdraws from consideration OBA education corner … OBA taking donations for tornado victims Last week, Kentucky suffered severe tornado damage, the worst in state history. The primary tornado was tracked as being on ground for more than 200 miles, impacting at least 19 counties and four other states. Banks …

The Consumer Financial Protection Bureau (CFPB) today released a “Supervisory Highlights” report concentrating on examiner observations of different financial products from January to June 2021. Credit card account management, debt collection, deposits, fair lending, mortgage servicing, payday lending, prepaid accounts, and remittance transfers are among the areas where problems were discovered, according to the bureau. To read the full report, …

In This Issue… Compliance Alliance offers demo days, complimentary access, exclusively for OBA members Thank you to 2021 Oklahoma Bankers Hall of Fame sponsors! OBA welcomes new strategic member OBA education corner … Compliance Alliance offers demo days, complimentary access, exclusively for OBA members Compliance Alliance is offering demo days for OBA members, allowing complimentary 48-hour trials of the service. …

The Federal Reserve Bank of Cleveland determined in a new study brief this week that Paycheck Protection Program loans served to reduce the effects of the pandemic-related recession on state-level employment growth and had “substantial” advantages overall. Researchers discovered that providing one additional week of payroll support through PPP loans during the first round of PPP lending “would have minimized …

In This Issue… Banks stay strong as banking system conditions improved in 2021 2021 Oklahoma Bankers Hall of Fame induction ceremony set for Thursday OBA education corner … Banks stay strong as banking system conditions improved in 2021 The banking system’s financial situation remained improved in the first half of 2021, according to the Federal Reserve’s latest supervision and regulation …

In This Issue… State banking board approves reduction in 2022 assessments OBA offices closed Thursday, Friday this week OBA education corner … State banking board approves reduction in 2022 assessments The Oklahoma State Banking Board voted  at its November meeting unanimously to reduce the assessments paid by Oklahoma state-chartered banks. The 2022 assessment rate was discounted 40% for each bank …

The first week of this month, we wrapped up our fall Bankers’ Night Out events. We traveled to six different locations across the state and were able to visit with more than 700 bankers. Thanks goes to Miles Pringle with The Bankers Bank, who joined us to talk about everything bitcoin and digital currency. Along with Miles, we covered a …

The Biden Administration and House leaders released the framework and legislative text of the Build Back Better plan in late October, and the package does not contain any language on the tax information reporting proposal opposed by the ABA, OBA and other state bankers associations. Please note, however, the release of the framework and text is only a part of …