Thursday, December 1, 2022

Week of Dec. 27

In This Issue…

Fed releases National Small Business Lending Survey results

The Federal Reserve Bank of Kansas City last week released the results from the Third Quarter 2021 National Small Business Lending Survey. The quarterly survey of U.S. banks provides data on lending activity and terms for small businesses, a critical source of employment and economic growth for the country.

The survey found that small business commercial & industrial loan balances decreased by 18.6 percent compared to this time last year.

Complete results of the survey are now available from the Kansas City Fed’s website by clicking here.

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OBA offices closed Friday for New Year’s holiday

The OBA offices will be closed on Friday, New Year’s Eve, to allow our employees to celebrate the ringing in of 2022.

We will reopen at our regular time on Monday, Jan. 3.

Happy New Year’s!

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OBA education corner …

Break out the black-eyed peas (the vegetable, not the musical group) and get your 2022 off to a lucky start! If you did mistakenly tell your Alexa to crank up the Black Eyed Peas musical group, that’s OK, we’ve got a feeling you’ll also enjoy upcoming education opportunities, including the following:

  • Protecting Your Salaried-Exempt Status, Jan. 5, webinar — A focus on only the new salary requirements can be a big mistake. One must also preserve and protect the salaried status once it has been properly established.
  • Ratio Analysis to Determine Financial Strength, Jan. 6, webinar — Credit analysis starts with spreading historical financial statements and then calculating key ratios to determine the financial health of an organization
  • Best-Ever Compliance Checklists for Consumer Loans, Jan. 6, webinar — These checklists will chronologically lead lenders and processors through the various lending compliance requirements. Financial institutions that properly use these checklists will virtually eliminate compliance errors.
  • Best Practices in Processing Subpoenas, Garnishments and IRS Tax Levies, Jan. 11, webinar — This webinar will provide attendees with the best practices and red flags for dealing with the various legal documents served upon financial institutions.
  • CRA Nuts & Bolts – Five Steps to Pass the Exam, Jan. 12, webinar — We will review the steps required to establish your case and tips for managing the exam.
  • Loan Structure Documentation and Compliance Seminar, Jan. 12-Tulsa; Jan. 13-Oklahoma City — Attend this proactive seminar and receive a thorough overview of commercial lending requirements from a “loan” structure, documentation, and compliance perspective.
  • Social Media Compliance and Best Practices, Jan. 13, webinar — Social media posts are a great way to communicate with existing customers and gain new ones as well, but what can we posts? What disclosures must be provided? How do we respond to a consumer complaint received via social media?
  • The Right of Setoff, Jan. 19, webinar — Do you know when the right of setoff is allowed and when it isn’t? Do you know if your financial institution has a statutory or contractual right of setoff? Do you understand the financial risks of using your setoff rights incorrectly? If you don’t know the answers to these questions, make sure to attend this valuable webinar.

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