Week of Feb. 22

In This Issue…

Compliance Alliance offers bankers compliance help

As you know, your OBA invested in Compliance Alliance (C/A) almost 10 years ago. So far that investment has had a return of 924 percent to the OBA. Roger Beverage, OBA’s current President & CEO, serves on both the C/A’s Executive Committee and its Board of Directors.

What is Compliance Alliance?
Compliance Alliance offers a comprehensive suite of compliance management solutions. To learn more about them and whether it might be a fit for your bank, call (888) 353-3933 or email info@compliancealliance.com and ask for our Membership Team.

What’s New at C/A?
About a year ago, the C/A Board voted unanimously to add a new feature to our C/A offerings. It’s called Review Alliance, which adds another option for banks to use when in need of a compliance audit across lending, deposits, BSA, HMDA, Flood, TRID and compliance officer training.

In addition, C/A also offers a newer service called (as you might have suspected) a Virtual Compliance Officer to the list of services that C/A can provide for your bank. The VCO is a shared service-model using bank-dedicated compliance officers. It’s perfect for monitoring and guiding your bank remotely.

Three major areas are covered by using this new service: Lending Compliance Review; Deposit Compliance Review; and BSA Compliance Review. This new offering is simply that – a new offering which increases your bank’s options in a world of an ever-increasing  compliance issues.

If you’re interested, you can learn more about how to put them to work for your bank, call (833)-683-0701, or email info@bankersalliance.org and ask for our Membership Team.

Here’s the C/A QUESTION OF THE WEEK:
Q: In determining whether the bank reports a HELOC for HMDA purposes, does the bank need to consider denied, withdrawn and approved but not accepted HELOCs into the threshold of 200?
A: The count is based on the number of open-end lines of credit that the bank has originated.

Reference:
Section 1003.3(c)(12) provides that an open-end line of credit is an excluded transaction if a financial institution originated fewer than 500 open-end lines of credit in either of the two preceding calendar years. Comment 1 to § 1003.3(C)(12): https://www.consumerfinance.gov/rules-policy/regulations/1003/3/#3-c-12-Interp-1

Not a member of C/A yet? Learn more about membership with Compliance Alliance by attending one of our live demos:

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Oklahoma banks show strong performance in 2020 despite pandemic

Even though the number of FDIC-insured institutions dropped over the course of 2020, from 198 to 190, the industry added more employees (25,399 vs. 25,194) and higher earnings than it had in 2019 ($1.902 billion vs. $1.637 billion).

Not bad, considering the environment caused by the COVIS-19 pandemic.

Assets and deposits both grew overall, but not at smaller community banks (less than $100 million). Moreover, Net Interest Margin continued its downward trend. ROA was better than 2019, but well short of 2018’s performance (1.27 vs. 1.47). ROE was ahead of both 2019 and 2018 totals at 12.55 at 12/31/2020. But fewer banks were profitable last year compared to the past two years (49.47 vs. 60.10 [2018] and [2017] 49.47 vs. 61.72).  Finally, non-current loans were up substantially (9.71 vs. 4.17 in 2019 and 2.94 in 2018).

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Review your bank’s information for OBA directory

The Oklahoma Bankers Association Directory of Banks is again being produced this year by NFR Communications (formerly BankNews Media). To best serve you, we want to include the most up-to-date and accurate information about your bank, your branches and your staff. However, we need your help.

To ensure we are using the most accurate information, please follow the instructions provided in the letter that was mailed to your bank last week by NFR Communications. Please review and revise as necessary the financial directory listing for your holding company, your main bank and your branches. You can also use the login information that was included in the letter to update your listing online or, if needed, download a new form.

Completed forms may be returned by email to directories@nfrcom.com or faxed to 913-261-7010. This will be the last opportunity to submit your bank’s information, so please do so as soon as possible.

We appreciate your help in making the 2021 Edition of the Oklahoma Bankers Association Directory of Banks a success.

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Get your photos in for OBA 2022 Views & Vistas photo contest

The Oklahoma Bankers Association is proud to offer again the customized calendar, “Oklahoma Views & Vistas” from photographs of Oklahoma submitted by Oklahoma bankers and their family members and board of directors and their family members.

These calendars will be sold exclusively to banks across the state of Oklahoma for bankers to give to their customers to enjoy all year long!

If you or a family member is an amateur photographer and would like the opportunity to have your creativity displayed in homes and businesses across Oklahoma, the OBA has a great opportunity for you! So send us your photos of farms, barns, agricultural activities, historical Oklahoma locations, county fairs, carnivals, parades or festivals, fall colors, winter snowfalls, spring flowers or summer fun; any photo that shows the history and beauty of the great state of Oklahoma.

The deadline to submit photos is March 31. All photos submitted will be scored by a panel of judges. The top-scoring photos will be featured in the 2022 Views & Vistas calendar!

Click here for more information and for the registration form.

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Get involved with an OBA committee

Are you interested in joining an OBA board or committee? Click here to complete the Committee Interest Form for 2021-2022. We would love for you to get involved!

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OBA welcomes new strategic members

Aspen Services Group
Contact: Steffi Webster & Sherry Shephard
4618 N Classen
Oklahoma City, OK 73118
Phone: (405) 525-0602
Email: info@aspenservesyou.com
Website: https://www.aspenservesyou.com
We are a concierge facility maintenance company that has been in service for 25 years, a 0ne-stop-shop for all business needs with a focus on janitorial and disinfection services. Aspen can be your trusted defense of attack when it comes to viral outbreaks and infection control with our FTO wipe-downs and ESS machine sprayers. During these uncertain times, you can rely on our attention to detail to keep your guests and employees both safe and confident as they interact with your banking facility. While we’re at it, Aspen can also provide more services like landscaping, roofing, floorwork, painting, power washing, window cleaning, install, etc.! We are here to serve you with our 100% customizable services plans, no contracts needed!

Bray Auctions
Contact: Barret Bray or Whitey Mason
2900 S Broadway, #2W
Edmond, OK 73013
Phone: (405) 888-5366
Email: info@bidbray.com
Website:https://www.bidbray.com
We are an auction company providing services to lenders statewide. We sell real estate, equipment and business liquidations. We can also sell repos, all online.

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OBA education corner …

Bring on the spring weather! The sun is out, and so are some new OBA education events. Check out the list below:

NOTE: Effective March 16, 2020, 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.

  • Wire Transfer Compliance, webinar, March 2 — In this session we will cover the regulatory requirements for both domestic and international wires, provide sample audit procedures and discuss how to identify and react to possible wire fraud attempts. In addition, we will identify vulnerabilities in systems and processes that can expose financial institutions to cyberattacks and increase liability. We will also examine ways to strengthen policies, monitoring, procedures, and risk assessments.
  • W9 Deposit Account Set Up and Interest Reporting, webinar, March 3 — We will look at the name control match process, the IRS CP2100 process, how your institution may begin back-up withholding, and many other issues. Learn how to get the forms right at new accounts so the IRS reporting is correct and in compliance.
  • The UCC for Lenders, webinar, March 3 — Gain a thorough understanding of UCC secured lending transactions and how they work. This webinar provides a comprehensive overview, including perfecting security interests, documentation, filing, analysis of lien positions, common mistakes and more.
  • Advanced Collection Tools Vital in Today’s Economy, webinar, March 8 — This “proactive” webinar covers negotiation, technical, and management tools in collecting cash. The negotiation process will include the “human factors” while the technical skills will include “business law basics” (contract law and lender liability).
  • Addressing Disabilities in the Workplace, webinar, March 9 — This webinar will walk employers through a roadmap of effectively addressing disability issues in the workplace.
  • 2021 Virtual Call Reports Seminar, March 9 — This seminar will cover general information on new accounting and regulatory matters addressed within the Call Report to include several final issued Accounting Standards Updates that impact the financial services industry and regulatory reporting changes currently impacting the Call Report as well as those regulatory changes that are proposed for the future. The impact of the CARES Act and related regulatory interim and final rules resulting from the COVID-19 crisis will also be discussed.
  • Third and Fourth Party Management, webinar, March 10 — We will explore best practices for vendor management, third party risk management, fourth party management and customer risk management.
  • Consumer Real Estate Loans, webinar, March 10 — This webinar will help you tame those scary real-estate-loan problems and will be particularly helpful to banks wanting to offer consumer real-estate loans for the first time in several years.
  • 2021 Retail Banking Branch Manager Virtual WorkshopMarch 10-11 — This fast-paced, results-oriented series focuses on the critical success skills for managing and leading during this unprecedented time. The two-day workshop is packaged full of checklists, job aids, case studies, examples, and “real world” situations.
  • Legal Liabilities when Check Fraud Occurs, webinar, March 11 — This session will focus on the best practices when check fraud occurs that can be employed by banks rather than looking at any particular state’s laws.
  • New QM Standards Under the Truth in Lending Act, webinar, March 12 — This webinar will cover the changes made by the CFPB in regards to what makes a loan a Qualified Mortgage. With an effective date of July 1, financial institutions need to start preparing now for these changes.
  • Quarterly Compliance Briefing: Spring 2021, webinar, March 16 — This webinar will give a quarterly update on new items to be aware of, deadlines and other information you need to keep your financial institution in compliance.

The OBA is proud to promote the recognition of bankers who have devoted 50 or more years of service to the banking industry. All eligible nominees will be honored at the 2021 OBA Convention, held May 24-26.

Click here to download a nomination form. If you have any questions, please contact Janis Reeser at 405-424-5252 or janis@oba.com.

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