Thursday, October 6, 2022

Week of Aug. 22

In This Issue…

Banking groups rally against FDIC assessment fee raise

The American Bankers Association, the ICBA and several other trade associations came out against a proposed two basis-point increase in deposit insurance assessment rates in comments submitted to the FDIC last week.

The trade groups, in separate letters, said the proposed hike is neither necessary nor prudent at this time. The groups said the justifications the agency has given for the increase are based on outdated information and give inadequate attention to the likely detriments to banks and the broader economy.

FDIC signaled in June its intent to raise rates starting during the first quarterly assessment period of 2023. The proposed increase – which would remain in effect until the Deposit Insurance Fund reserve ratio meets the FDIC’s long-term goal of 2% – would amount to a 54% increase in the current average assessment rate. The agency previously approved a DIF restoration plan to restore the reserve ratio to the statutory minimum of 1.35% in 2028, but a sustained increase in insured deposits due to the pandemic and major unrealized losses in its securities portfolio caused the reserve ratio to drop to 1.23% earlier this year.

You can can click here to read about the FDIC proposed increased via the Federal Register.

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‘Banks are safe’ PSAs available from OBA

The Oklahoma Bankers Association has created “Banks are safe” public service announcements for its member banks, both in advertising form as well as in story form, ready for display at the bank or for insertions into local newspapers.

These ads and stories – available at no cost to member banks – echo the Association’s successful “Nothing’s Safer Than Money In The Bank” public relations campaigns from the past two decades.

“With all that is happening everywhere nowadays – the war in Ukraine, saber-rattling in China, inflation, gas prices soaring, important elections looming – we thought it was a prudent time for our banks to remind their customers that one thing they can always rely on as being steady and sure is their local community bank,” said OBA Senior Vice President/Communications Jeremy Cowen.

“Oklahoma banks have a strong reputation among Oklahomans for being trustworthy and dependable. It’s never the wrong time to remind people that ‘banking’ is one certainty in an uncertain world.”

The PSAs, available as electronic files so they can be printed as needed and shared via social media and websites, will enable banks to reassure their community about the safety and soundness of their local community banks … something beneficial to BOTH communities and banks, particular with current world, national and local happenings.

“We always embrace an opportunity to equip our customers and communities with information that will enable to them to make more informed decisions,” said Alicia Wade, president and COO of Valliance Bank in Oklahoma City and also first vice chair of the OBA. “The OBA consistently provides us with professional and simple to use PSAs to complement and enhance our internal public relations and customer education process.

“We are grateful for the value add and look forward to sharing them via email and social media throughout the year.”

These PSAs echo the OBA’s previously successful “Nothing Is Safer Than Money In The Bank” public relations campaigns in previous years and will be modified to put each bank’s specific name. They are available as electronic files.

For more information on these PSAs, or to get branded versions for your bank, contact the OBA’s Jeremy Cowen (jeremy@oba.com) at (405) 424-5252.

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Deadline week to return Hall of Fame ballots

Your bank should have received its Oklahoma Bankers Hall of Fame ballots, which were mailed out earlier this month. Please make sure your bank’s ballots are returned to the OBA by Friday so they can be tallied.

If you have any questions, contact Lea Ann Jackson at the OBA.

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Oklahoma delegation meetings set for 2022 Washington Visit

The OBA’s Annual Washington Visit has been scheduled for Sept. 26-28 and the hotel will be the Waldorf Astoria.

Besides all the usual – and incredibly useful – meetings with the movers and shakers on Capitol Hill, we will host an “OBA Sports Night” at Walters Sports Bar on the Monday night of the visit, allowing everyone to decompress, enjoy a casual evening and compare notes.

During the final leg of the Visit, the Oklahoma delegation will come to meet with our group. The current schedule is listed below:

Rep. Lucas 1 p.m.
Rep. Hern 1:30 p.m.
Sen. Inhofe 2:15 p.m.
Rep. Bice 3 p.m.
Sen. Lankford 3:30 p.m.
Rep. Mullin 4 p.m.
Rep. Cole 4:30 p.m.

Registration information should already be at your bank, but you can also download the registration and information form, and get more info on the hotel, by clicking here (.pdf). Click here to access the hotel reservation link.

If you have any questions, contact Adrian Beverage or Megan McGuire at the OBA

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Final week for special pricing on OBA calendars

The 2023 Oklahoma Views & Vistas Calendar special price of $0.99 per calendar ends after this week!

Click here (.pdf) to download an order form and get them secured for your bank before the price goes up!

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OBA education corner …

College football makes its entrance this week! Sure, it’s a light slate, highlighted by the Big Red of the North playing in Ireland (!?), but it’s still college football.

In honor of the sport making its entrance, here’s some of the best entrances by teams across the country, featuring Howard’s Rock at Clemson, the flaming spear plant and war chant at Florida State, Enter Sandman at Virginia Tech and much more!

Before you run through that tunnel, however, stay focused on what’s in front of you: work! And we can help with your work with continuing education through the OBA, including these upcoming programs:

  • Check Fraud and SAR Filings, Aug. 30, webinar — Learn more about connecting the crime, the narrative and the suspicious activity boxes together.
  • 1099 Interest and CP2100s – When Names and TINs Don’t Match, Aug. 31, webinar — Got a CP2100? Taxpayer identification numbers don’t match names? Learn what to do in this webinar.
  • IT Examination Review – FDIC & CSBS INTREx, Sept. 1, webinar — In this webinar we will do an overview of the INTREx work program including the IT Officer’s Questionnaire and changes to the rating system used. We will also highlight the INTREx program steps and sharing the potential “2021” exam focus areas to help you be better prepared for your examination.
  • Protecting Your Salaried-Exempt Status, Sept. 7, webinar — Learn how to avoid mistakes and land mines under the Department of Labor FLSA rule.
  • Wire Transfer Compliance: Establishing Strong Internal Controls, Sept. 8, webinar — 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.
  • The Power of Emotional Intelligence in Leading a Team, Sept. 9, Oklahoma City — Recent studies have shown emotional intelligence to be a key factor in leadership effectiveness, specifically, in a rapidly changing business environment. Emotionally intelligent managers create psychologically safe workplaces that lead to improved employee job satisfaction, retention, creativity, performance, and well-being.
  • Advanced Cash Flow Analysis, Sept. 12, webinar — This webinar will explore multiple models of both business and personal (business owner) cash flow analyses.
  • 2022 OBA Basic Banking School, Sept. 12-15, Oklahoma City — This school is designed to introduce students to basic banking concepts as they relate to the overall functioning of a bank.
  • OFAC Annual Staff Training, Sept. 13, webinar — The frontline is our eyes and ears on the ground. It consists of tellers, new accounts, lenders, branch managers and everyone who interacts with a customer. The job of the frontline is to identify red flags, file CTRs, complete CIP, keep records on wires and monetary instruments.
  • 2022 Credit Analysis Basics, Sept. 22-Tulsa; Sept. 23-Oklahoma CityAttend this proactive seminar and learn how banks make lending decisions based on the five Cs of credit- capacity, capital, collateral, conditions and character.
  • Real Estate Lending Compliance, Oct. 11-12, Oklahoma City — Every year major changes appear and this year is no exception. Big changes are pending with Fair Lending, Regulation B and flood insurance. The program and the manual have been completely updated for these rules.

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