Monday, February 6, 2023

Week of Dec. 19

In This Issue…

Happy holidays from us!

Happy holidays and merry Christmas from your family here at the OBA!

In observance of Christmas, our offices will be closed on Monday, Dec. 26. We will re-open at our normal time on Tuesday, Dec. 27.

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Agencies release asset-size thresholds for CRA regulations

The Federal Reserve Board and the FDIC announced Monday the 2023 updated asset-size thresholds used to define “small bank” and “intermediate small bank” under their Community Reinvestment Act regulations.

Annual adjustments to these asset-size thresholds are based on the average change in the Consumer Price Index for Urban Wage Earners and Clerical Workers, which is a measure of inflation.

As a result of the 8.60 percent increase in the CPI–W for the period ending in November 2022, the definitions of small and intermediate small banks for CRA examinations will change as follows:

  • Small bank means an institution that, as of Dec. 31 of either of the prior two calendar years, had assets of less than $1.503 billion.
  • Intermediate small bank means a small institution with assets of at least $376 million as of Dec. 31 of both of the prior two calendar years and less than $1.503 billion as of Dec. 31 of either of the prior two calendar years.

The CRA regulations establish the framework and criteria by which the relevant agencies assess a financial institution’s record of helping to meet the credit needs of its community, including low- and moderate-income neighborhoods, consistent with safe and sound operations.  Financial institutions are evaluated under different CRA examination procedures based upon their asset-size classification.  For example, banks meeting the small and intermediate small bank asset–size thresholds are not subject to the reporting requirements applicable to large banks unless they choose to be evaluated as a large bank.

These asset-size thresholds are effective Jan. 1, 2023.  A list of the current and historical asset-size thresholds is available here.

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Governor’s inaugural ball seeking sponsorships

The 2023 Inaugural Ball for Gov. Kevin Stitt is scheduled for early January, and the Oklahoma Inaugural Committee is seeking sponsorship representation from different industries, including banking.

The Tulsa pre-inaugural ball is set for Jan. 6, while the Oklahoma City inaugural ball is schedule for Jan. 9. Different level of sponsorship are available for both. Click here (.pdf) to download sponsorship information for both events.

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2023 holiday closing signs available from OBA

Customers need to know that Oklahoma banks are closed in observance of several holidays each year. OBA makes this easy by offering member banks a set of eleven decorative 6”x 9” decals.

Static-cling decal signs clearly notify customers of your holiday closings. Each decal has a holiday design with the bank closing dates as observed by the Federal Reserve. Additional blank decals are provided to write on for emergency closings. Juneteenth holiday sign is included. English edition or English/Spanish edition are available.

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OBA education corner …

Hey kids, I heard on the news that an airline pilot spotted Santa’s sleigh on its way in from New York City!

And, yes, we’re serious, Clark.

While re-watching Christmas Vacation for the umpteenth time, take a little time to prepare for upcoming continuing education opportunities available through the OBA:

  • Understanding the Basics of Cryptocurrency and Digital Assets, Jan. 5, webinar — This session is designed to introduce you to the virtual currency world which can then be utilized to enhance the financial institution’s role in understanding, training, and monitoring for suspicious activity related to virtual assets.
  • Mortgage Origination Compliance, Jan. 6 & 11, webinar — In this 2-part webinar, we’ll discuss all the relevant requirements and considerations in the origination process.
  • Best Practices in Processing Subpoenas, Garnishments and IRS Tax Levies, Jan. 10, webinar — This webinar will provide attendees with the best practices and red flags for dealing with the various legal documents served upon financial institutions.
  • Utilizing Ratio Analysis to Determine Financial Strength, Jan. 11, webinar — Learn the five vital signs of any organization and the ratios required to identify them.
  • 2023 FORVIS-OBA CECL Seminar, Jan. 18, Oklahoma City — CECL is effective for non public entities beginning in the first quarter of 2023. This half-day session is designed for those with direct responsibility for the ACL calculation as well as decision makers in your bank.
  • Women in Banking Luncheons, Jan. 20-Broken Arrow; Jan. 24-Oklahoma City — Join our OBA Women in Banking Committee as we learn from industry leaders on their challenges, successes and navigating a rewarding banking career.
  • 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.
  • 2023 OBA Commercial Lending School, March 5-10, Oklahoma City — The Commercial Lending School is an intensive, one-week functional school designed for bankers with a basic understanding of credit and financial analysis. The school will demonstrate how to apply this knowledge in profitable commercial lending situations.

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