Thursday, February 2, 2023

Week of Dec. 12

In This Issue…

Four bankers inducted into Oklahoma Bankers Hall of Fame

The Oklahoma Bankers Hall of Fame inducted its 2022 class – its fourth ever – on Dec. 8 at the Oklahoma History Center in Oklahoma City.

Dr. Sinclair Armstrong Jr., with Armstrong Bank in Muskogee; Shirley Barber, a longtime banker with Security State Bank in Cheyenne; Robert H. Croak, with FNB Community Bank in Midwest City; and the late John Massey, with First United Bank in Durant; make up the 2022 group.

The ceremony was hosted by the Oklahoma Bankers Association’s immediate past chairman, Rick Walker, who is also vice chairman and CEO of Liberty National Bank in Lawton. OBA President and CEO Adrian Beverage introduced each inductee.

Click here to read full the full bios on each of the inductees.

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OCC discusses key risks facing federal banking system

The Office of the Comptroller of the Currency late last week reported the key issues facing the federal banking system in its Semiannual Risk Perspective for Fall 2022.

Economic growth slowed sharply in 2022, while high employment rates supported consumer spending and overall bank performance. Banks, in aggregate, remain well capitalized and with ample liquidity and sound credit quality, although macroeconomic headwinds are a concern. The OCC highlighted interest rate, operational, compliance and credit risks, among the key risk themes in the report.

Highlights from the report include:

  • Bank investment portfolios have been adversely impacted by the rising rate environment resulting in portfolio depreciation.
  • Operational risk is elevated. Cyber threats continue to evolve, with threat actors continuing to target the financial services industry with ransomware and other attacks.
  • Compliance risk remains elevated as banks continue to operate in an increasingly complex environment that includes significant regulatory changes.
  • The quantity of credit risk in commercial and retail loan portfolios is moderate. Loan portfolio performance has been resilient, but signs of potential weakening in some segments warrant careful monitoring.

The report also highlights the OCC’s initiative on climate-related financial risks to the federal banking system and the OCC’s careful and cautious approach to cryptoassets.

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OBA Intern Program ready for 2023

An OBA program to be aware of is the OBA Intern Program.

The Intern Program will be active in 2023 and we’re looking for participating banks! For more information on this IMPORTANT program – important not only to aspiring students, but also to participating banks – Contact the OBA education department at (405) 424-5252 or click here for more information!

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OBA welcomes trio of new strategic members

The OBA would like to welcome its latest strategic members:

Profit Resource Inc. (PRI)
Profit Resources, Inc. (PRI) enhances interchange income and debit card profitability, evaluates and negotiates system contracts, and completes process improvement throughout every area of the bank. PRI strengthens banks by making quantifiable improvements to profitability and efficiency while also specializing in merger integration.
Contact: Mikelle Brady
320 S Madison Ave
Monroe, GA 30655
Phone: (800) 576-2374 ext 5; (317) 502-1388 (Cell)
Email: mbrady@profitresources.com
Website: profitresources.com

S&P Global Market Intelligence
S&P Global Market Intelligence integrates financial and industry data, research and news into tools that help banks track performance, identify investment ideas, understand competitive and industry dynamics, perform valuation and assess credit risk.
Contact: HD Jacobs
217 7th Street, NE
Charlottesville, VA 22902
Phone: (434) 951-7710
Email: HD.Jacobs@spglobal.com
Website: https://www.spglobal.com/marketintelligence/en/client-segments/commercial-banking

Cornerstone Advisors
Cornerstone Advisors is a management and technology consulting firm, shows banks how to reach the next level of performance through smarter technology discussions, diligent contract negotiations and re-engineered critical process.
Contact: Jennifer Wagner
7272 E Indian School Road, Suite 400
Scottsdale, AZ 85251
Phone: (602) 770-4220
Email: jwagner@crnrstone.com
Website: www.crnrstone.com

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OBA education corner …

Christmas is less than two weeks away – are you done with your shopping? Have you even started? While contemplating these rhetorical, and quite honestly, existential questions, take the time to prepare for upcoming continuing education opportunities available through the OBA:

  • 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.
  • Most Common TRID Issues, Dec. 16, webinar — Our goal is to ensure you understand where the TRID rules can create uncertainty and risk, and insulate your institution as much as possible from noncompliance.
  • 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 Compliance Updates, Jan. 26-Tulsa; Feb. 2-Oklahoma CityThe updates provide a review of issues and concerns facing every bank’s compliance team. Hot topics, trends and common compliance mistakes will be covered.

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