Oklahoma Banker

December 2021

December 27, 2021
Oklahoma banks post big profits for third quarter

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 …

November 19, 2021
Executive News: Bankers’ Night Out events wrap up autumn season

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 …
November 18, 2021
IRS reporting issue not part of initial budget framework

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 …

October 19, 2021
Executive News: IRS reporting issue, OCC nominee highlight latest issues

Last month, we talked about the reconciliation bill being discussed in Congress, along with the IRS proposal. Fast forward one month and nothing has changed. No vote has been taken on reconciliation bill and no vote has occurred on the Senate infrastructure bill. Here’s a look at where we were and where we are at today. The $1 trillion Senate …
October 18, 2021
Banking profits increase in 2021’s second quarter

Despite the drop in net interest revenue, 64.1% of Oklahoma banks reported more net interest income than the previous year, according to the recently released Quarterly Banking Profile by the FDIC for the second quarter. For Oklahoma banks, the average return on assets was 1.24% in the second quarter of 2020, up from 0.36% the previous quarter. The FDIC reported …

September 19, 2021
Executive News: Thank you, you shouldn’t have … really

I want to thank all of you for all you did for the American people during the PPP – a program of that magnitude had never been done before. You dealt with constant rule changes, lack of information and everything else that made your life hectic for months. Because of you, a massive number of businesses both small and large …
September 18, 2021
Agencies issue guide for community banks to evaluate fintechs

The federal bank regulatory agencies last last month released a guide intended to help community banks assess risks when considering relationships with financial technology (fintech) companies. This guide, “Conducting Due Diligence On Financial Technology Companies,” is intended to be a resource for community banks when performing due diligence on prospective relationships with fintech companies. It is available on the Federal …

August 19, 2021
Executive News: On the road, hearing stories from peers, bankers …

I can’t believe it’s already the end of summer – spending the last weekend hunting for school supplies is one way to wrap up the season. We’ve got lots of things to look forward to in the fall and I’ll touch on this in a minute. While it usually slows down a little bit here at the OBA in the …
August 18, 2021
2021 Hall of Fame inductees unveiled

The OBA is proud to announce the group of inductees for the Oklahoma Bankers Hall of Fame, with the ceremony set for Dec. 2 in Oklahoma City. Bruce Benbrook, a longtime Woodward banker who is currently CEO and chairman of The Stock Exchange Bank in Woodward; Steve Burrage, a southeastern Oklahoma stalwart who is chairman of FirstBank in Antlers; the …

July 19, 2021
Executive News: Sudden resignations spark interest at state capitol

Last month, more than 60 bankers attended the OBA’s 2021 Senior Management Forum in Las Vegas. While the temps were close to 115 degrees, it was still great to see so many bankers. It was a record crowd and just coming off our annual convention, which also had record numbers. It’s clear bankers are ready to be back in person …

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