Thursday, February 2, 2023

Week of Dec. 5

In This Issue…

ABA report: Credit card market remains strong

Consumers continued to manage their credit well despite economic headwinds in the second quarter of 2022, according to the American Bankers Association’s latest Credit Card Market Monitor.

The report found that credit card credit outstanding as a share of disposable income remained well below pre-pandemic levels in the second quarter while inflation-adjusted monthly credit card purchase volumes increased across risk tiers (prime, subprime, and super-prime), reflecting solid consumer spending earlier this year.

The December 2022 Monitor, which reflects credit card data from April to June 2022, shows that real monthly purchase volumes* increased 4–8% across risk tiers compared to the previous quarter. On an annual basis, real monthly purchase volumes increased 7–11% across risk tiers. Meanwhile, credit card credit outstanding as a share of disposable income* continued to normalize in the second quarter, though the second quarter reading of 4.8% remains well below average 2019 levels of 5.4%.

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Oklahoma Bankers Hall of Fame induction ceremony set for Thursday

The OBA is proud to announce the group of inductees for the Oklahoma Bankers Hall of Fame, with the ceremony set for Thursday in Oklahoma City.

Dr. Sinclair Armstrong Jr., chairman of the board at Armstrong Bank in Muskogee; Shirley Barber, former president and CEO of Security State Bank in Cheyenne and the first female member of the Oklahoma Bankers Association Board of Directors; Robert H. Croak, chairman of the board at FNB Community Bank in Midwest City; and the late John Massey, longtime chairman of the board at First United Bank in Durant, will comprise the fourth group to be inducted into the Hall of Fame, as voted on by a panel of their banking industry peers.

The ceremony will be held over lunch on Thursday at the Oklahoma History Center in Oklahoma City. For those who wish to attend, please RSVP by Nov. 30 to Nancy McKinnis (nancy@oba.com) or Joan Anderson (joan@oba.com).

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OBA education corner …

We’ve officially entered winter – well, at least meteorological winter, which is close enough considering some of the cold snaps we’ve already faced. While you’re trying to stay warm, and also attempting to decipher the official start of the seasons, take the time to prepare for upcoming continuing education opportunities available through the OBA:

  • How to Have Courageous Conversations, Dec. 12, webinar — If you could release that fear and build your courage muscles, would you be willing to learn new skills and commit to taking new action?
  • IRS Information Reporting: Rules and Forms, Dec. 14, webinar — Learn about the many forms financial institutions must report, with an emphasis on when and exactly what to report.
  • Seven Habits of Effective Credit Administration, Dec. 15, webinar — This course will address the factors you need to know to make a positive difference in the credit administration at your bank.
  • How Does Your Outsourced Third-Party Risk Management Program Stick Up?, Dec. 20, webinar — Susan Orr has assisted numerous institutions with developing their outsourced third-party risk management program and will share her insights into developing an effective program in this webinar.
  • 2023 OBA Intermediate School, Session I-Feb. 6-10; Session II-June 5-9, Oklahoma City — Presented in two sessions, the school is designed to prepare students to serve effectively and profitably the needs and desires of their banks and the banking public. A major objective of the program is to instill an appreciation for and an understanding of the operations and interrelationships of departments within a bank.

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