In This Issue…
- State of Oklahoma starting Oklahoma Business Relief Program
- SBA, Treasury announce enhanced transparency on PPP loans
- Oklahoma Bankers Hall of Fame taking nominations for 2020 inductees
- Salary survey deadline extended
- Check out OBA’s Strategic Members COVID-19 Resource Page
- OBA education corner …
State of Oklahoma starting Oklahoma Business Relief Program
Developed to help local businesses across the state overcome the economic challenges of COVID-19, the Oklahoma Business Relief Program offers vital funding for businesses that have suffered revenue loss due to the pandemic.
Gov. Kevin Stitt has designated $50 million in Federal CARES Act funds for the program.
Starting Monday, June 29, Oklahoma businesses can request to apply for OBRP through participating financial institutions. The financial institutions will evaluate applications based on the program rules and determine if the business is eligible. Approved applications will be submitted by the financial institution to the Oklahoma Department of Commerce. Applications will be accepted on a first-come, first-served basis, and funds will be provided to the business through the financial institution. During the first phase of applications, at least 20% of the program funds will be designated for minority-owned businesses.
Financial institutions that wish to participate in OBRP are encouraged to attend one of the virtual lender training calls listed below. The trainings will take place on Wednesday via Zoom and will cover program details as well as information on how to become a registered vendor with the state.
Session 1 — For-profit businesses in all industry sectors
Wednesday, June 24
Zoom Meeting ID: 918 5514 8566
Call-in number for phone users: (346) 248-7799
Session 2 — EDOs/non-profits
Wednesday, June 24
Zoom Meeting ID: 997 3077 2301
Call-in number for phone users: (346) 248-7799
This training is designed to answer all your questions so the program runs smoothly. The application will not be available to businesses until June 29, so financial institutions will have plenty of time to prepare.
If your bank would like to participate in OBRP but cannot attend the training, please fill out the participation request form by CLICKING HERE.
For more information on the OBRP, visit the dedicated web page on the Oklahoma Department of Commerce’s website by clicking here.
SBA, Treasury announce enhanced transparency on PPP loans
Earlier this week, the Small Business Administration and Department of the Treasury announced some enhanced transparency regarding the PPP.
The bipartisan agreement between SBA, Treasury and leadership from the U.S. Senate Small Business Committee will provide more information to the general public about who participated in the Paycheck Protection Program. The SBA will disclose the business names, addresses, NAICS codes, ZIP codes, business type, demographic data, non-profit information, jobs supported and loan amount ranges as follows:
- $350,000-1 million
- $1-2 million
- $2-5 million
- $5-10 million
These ranges account for nearly 75% of all PPP loans. For loans less than $150,000, totals will be released, aggregated by ZIP code, by industry, by business type and by various demographic categories.
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.
- Oklahoma Bankers Hall of Fame overview.
- Oklahoma Bankers Hall of Fame nomination instructions.
- Oklahoma Bankers Hall of Fame nomination form.
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 firstname.lastname@example.org. 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.
Salary survey deadline extended
Blanchard Consulting Group would like to invite you to participate in our 2020 Salary and Cash Compensation Survey. The deadline to participate has been extended to July 3.
This annual survey gathers salary and cash compensation (salaryplus 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 email@example.com by Friday, July 3.
If you would like to pre-order your copy of the survey or if you have any survey questions, please contact Laura Roth at firstname.lastname@example.org or 612-886-1225.
Check out OBA’s Strategic Members COVID-19 Resource Page
To help our member banks have access to as many resources as possible during the COVID-19 pandemic, the OBA is collecting information from our strategic members and other affiliated businesses that are providing important information and help.
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.
- BSA: CIP and CDD Update, July 9, webinar — This program will look line-by-line at the regulation and point out avenues of change to explore in 2020.
- Online Account Opening, July 14, webinar — During the program we will discuss the action steps required on your internet website to comply with new account opening procedures on all types of deposit accounts.
- What To Do When A Customer Dies, July 15, webinar — We’ll walk you through the best practices when dealing with a customer’s death – both on the deposit side and the loan side, as well as unique issues that can arise when doing business with the decedent’s estate.
Also, the OSU Agricultural Economics Department is hosting the Rural Economic Outlook Conference at the ConocoPhillips Alumni Center located on the OSU campus, Wednesday, Oct 14. The lineup of speakers includes Dan Kowalski, knowledge exchange division, CoBank, and Ambassador Gregory Doud, U.S. trade representative. Ambassador Doud has agreed to speak, schedule permitting. The registration fee is $50, which includes breakfast, lunch and breaks on Wednesday. More information and a detailed agenda by clicking here.