Sunday, November 28, 2021

Week of Nov. 15

In This Issue…

Federal court issues nationwide stay of vaccine mandate

The ABA Banking Journal has reported a federal appellate court on Friday imposed a nationwide stay of execution of the emergency interim standard, which requires all companies with 100 or more employees to be completely vaccinated or to test for COVID-19 on a weekly basis.

The stay confirms the court’s previous stay, which was granted a week ago in response to a legal challenge to the requirement submitted by many governments and private businesses.

The OBA is monitoring the current situation as it develops.

To read the full court case, click here.

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2021 Oklahoma Bankers Hall of Fame ceremony set for Dec. 2

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 Tulsa-area’s Carlisle Mabrey III, current executive chairman with Mabrey Bank, based in Bixby; and the late Tracy Kelly, a longtime Bristow banker who was a guiding force for SpiritBank, will comprise the third group to be inducted into the Hall of Fame, as voted on by a panel of their banking industry peers.

The luncheon and induction ceremony is scheduled for 11:30 a.m. on Thursday, Dec. 2 at the Oklahoma History Center, which is located at 800 Nazih Zuhdi Dr., in Oklahoma City.

If you are interested in attending the event, please RSVP by Nov. 26 to the OBA’s Nancy McKinnis (nancy@oba.com) or Joan Anderson (joan@oba.com) at 405-424-5252. The cost for an individual seat is $75 and $700 for a table of 10.

For sponsorship or congratulatory messages, please contact Thi Pham (thi@oba.com) at 405-424-5252.

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OBA to offer various surveys for bank use in 2022

The OBA is bringing back the Compensation Trends & Employee Benefits Survey and the Salary & Cash Compensation Survey in early 2022.

OBA is partnering with Blanchard Consulting Group again to offer specific reporting on Oklahoma banks (where available based on participation). The 2022 Compensation Trends and Employee Benefits Survey will gather information on recent trends regarding compensation committee best practices, compensation philosophy, annual incentive plan design and payouts and long-term incentive programs.

In addition, this survey covers employment/change-in-control agreements, deferred compensation plans/supplemental executive retirement plans, perquisites and employee benefits. Details are provided surrounding the typical amounts of car allowance, country club memberships, 401(k) matches, medical coverage, and more.

The 2022 Salary and Cash Compensation Survey contains salary and cash compensation (salary + annual cash incentive/bonus + commissions) data for approximately 20 executive positions and approximately 150 middle management and staff level positions.  In addition, this survey provides information on the amount of annual cash incentive/bonus amounts paid to all positions throughout the bank.  Data cuts will be broken out by asset size and region (coast, non-coast, and Oklahoma) when we have a large enough sample size.

This data can be used by human resource professionals to assist in assessing the competitiveness of base salary for most positions in your bank, developing or managing salary grades and making salary increase decisions.

For more information or if you have any questions please contact Thi Pham at thi@oba.com.

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OBA education corner …

The holiday season is in full swing! Bring on the turkey and pecan pie! While enjoying the autumn festivities, check out all the upcoming OBA education offerings, though! Take note of the following:

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.

  • Robbery Basics and BeyondNov. 29, webinar — Attendees will learn various methods used by these criminals, how their observations of the event can be critical, along with essential actions to take following a robbery. Employees of financial institutions must recognize the risk that exists but understand that knowledge and training are vital to surviving the event safely.
  • E-Sign for Lending – Challenges and Solutions, Nov. 30, webinar — What steps must be followed to be in compliance with E-Sign? What steps should be taken to verify the customer’s identity in view of an increased risk of identity theft? This session will explain the intersection of E-SIGN and cybersecurity while providing valuable tips for educating consumers and identifying fraud.
  • Section 1071 Dodd-Frank Act Proposal, Dec. 1, webinar — This webinar will take a deep dive into the proposal that will implement the small business data collection and reporting requirements found in Section 1071 of the Dodd-Frank Act. This rule will have a major impact within the commercial lending areas of most financial institutions. Start planning today!
  • 2021 Key Ratio Analysis, Dec. 1, Tulsa and Dec. 2, OKCAttend this proactive seminar and learn a “five-step” analysis plan to calculate the key ratios covering liquidity, activity, leverage, operating performance, and cash flow analysis and correctly interpret the financial condition of the business client. Upon completion of this seminar, the bank employee will also be able to better negotiate with their business clients as well as other financial professionals.
  • Dealing with Appraisals: Regulations and Requirements, Dec. 2, webinar — We’ll provide in-depth details of the appraisal and valuation process, from both the lender and appraiser side of the game, to provide a thorough understanding of what is required and what you need.
  • Commercial & Business Lending Basics for Support Personnel, Dec. 6, webinar —Lending is all about risk management. This seminar is designed to take the “mystery” out of the commercial lending process and the confusing terminology often used by lenders.
  • Understanding Revocable and Irrevocable Trust Documents, Dec. 7, webinar — Financial institutions are required to complete transactions for customers who have created revocable and irrevocable trusts. To protect your financial institution’s interests when using these documents, it is imperative to understand the basic do’s and don’ts. This presentation will provide financial institution personnel with best practices to use when dealing with these complex legal documents.
  • Overdraft Programs — The Danger Zones, Dec. 7, webinar — This seminar will cover an array of topics, including understanding the regulations of overdraft programs, the guidance and regulatory environment, average balance/ledge balance and much more!
  • Handling Legal Documents: POAs, Trusts, Estates and Guardianships, Dec. 8, webinar — During this program we will look at the high risk involved in fiduciary accounts and the legal documents that come with them. From guardianships to power of attorneys, we will look at the key players, who can do what, and whether you can refuse the account. Learn how to open these high-level accounts and how to look at the paperwork and involve legal counsel.
  • IRS Reporting: Rules and Forms, Dec. 8, webinar— It’s that time of the year again – when thoughts turn to IRS reporting issues and the myriad rules to follow and forms to complete. Learn about the many forms financial institutions must report, with an emphasis on when and exactly what to report. We’ll include easy-to-follow charts to complete each form.
  • Reg E: Errors & Disputes, Dec. 9, webinar — ACH, ATM and Debit Card error resolution rules are confusing. There are Regulation E rules and VISA or MasterCard rules that don’t always sync up. While the math behind zero liability is easy, the rest can be very hard to understand. This is also an area that has seen more examiner scrutiny in the last couple of years. Make sure your error resolution processes are up to speed! This webinar will dissect the Regulation E error resolution requirements in plain English.

The 2022 GSB Madison HR School is set for April 4 – 8 in Madison! To access the 2022 GSB Madison HR School Scholarship application, click here.

Also, save the date for two big OBA events next year! The OBA Senior Management Forum (April 3-5) and the OBA Annual Convention (May 18-20). Mark your calendars and be ready to join us for these signature events!

Finally, mark your 2022 calendars for all the upcoming schools offered by the OBA!

  • Intermediate Banking — Feb. 7-11; June 6-10.
  • Commercial Lending — March 6-11.
  • Compliance — Aug. 22-26.
  • Basic Banking — Sept. 12-15.
  • Consumer Lending — Oct. 3-7.
  • Operations — November 14-18.

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