Thursday, April 18, 2024

Week of March 27

In This Issue…

Deposit fund assessment proposal likely happening

The FDIC estimates the cost of resolving Silicon Valley Bank will likely be $20 billion, which will be recovered by a special assessment on banks, FDIC Chairman Martin Gruenberg said earlier this week.

In prepared testimony released ahead of two congressional hearings this week on the recent bank closures, Gruenberg did not say what form the assessment would take or which institutions would be required to pay. The agency will put forward a proposal for comment in May, he said, along with a report following a “comprehensive review of the deposit insurance system.”

The cost for resolving Signature Bank is estimated at $2.5 billion, Gruenberg said. Both cost estimates are subject to change depending on the ultimate recoveries for each receivership.

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North Carolina bank assumes deposits, loans of Silicon Valley Bridge Bank

The Federal Deposit Insurance Corporation entered into a purchase and assumption agreement for all deposits and loans of Silicon Valley Bridge Bank, National Association, by First–Citizens Bank & Trust Company, Raleigh, North Carolina.

The 17 former branches of Silicon Valley Bridge Bank, National Association, opened as First–Citizens Bank & Trust Company on Monday.

Depositors of Silicon Valley Bridge Bank, National Association, will automatically become depositors of First–Citizens Bank & Trust Company. All deposits assumed by First–Citizens Bank & Trust Company will continue to be insured by the FDIC up to the insurance limit.

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We are family: OBA Convention open for registration!

The Oklahoma Bankers Association and its member banks constitute a family … and the family is made up of many members. Nearly 200 banks and 20,000 bank employees across the state constitute the OBA’s family tree, and we’d sure like to a see a large representative portion of those at our annual convention on May 8-10!

This year’s convention has the theme “We are family” and will be held at the Embassy Suites in Norman. We hope as many banks and bankers as possible take part in our little family reunion this year!

Click here for more information and a registration form. Also, click here for more information and to register for the convention golf tournament. Don’t hesitate to reach out to the OBA for any additional information!

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OBA Bankers’ Night Out program start this week

The OBA Bankers’ Night Out programs began Monday night in Tulsa. Don’t fret, however: there are still plenty of dates ahead, beginning tonight in Oklahoma City.

Mark your calendar for the date of the program that’s in your area of the state and plan to attend. Bring your coworkers with you so that everyone can be up to speed on the most recent developments affecting their job. In addition to state and federal legislative updates, the program will include a discussion on the recent developments in your industry.

As in the past, the schedule for each of these meetings is:

5:30 p.m. – Drinks
6:15 p.m. – Program
7 p.m. – Dinner

PRE-REGISTRATION IS REQUIRED. The cost is $50 per person. Click here for a registration form.

Locations and dates for this year’s events are:

  • Oklahoma City, March 28.
  • Guymon, March 30.
  • Enid, April 6.
  • Krebs, April 10.

Click here to access sponsorship information. Please contact Thi Pham (thi@oba.com) for sponsorship questions.

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OBA education corner …

Break out your popcorn and Cracker Jack because baseball season starts this week! Whether you’re an Atlanta Braves fan, wish you were an Atlanta Braves fan, aspire to be an Atlanta Braves fan or even (gulp) New York Mets fans, Opening Day is a time of celebration! While getting your beer and peanuts ready for Thursday, take a little time to prepare for upcoming continuing education opportunities available through the OBA:

  • Consumer Real Estate Loans, April 4, webinar — Don’t let compliance confusion slow you down. Take this opportunity to deepen your knowledge of the current compliance rules and take your loan processing skills to the next level. With easy-to-follow explanations and real-life examples, you’ll be armed with the tools you need to navigate even the most complex loan scenarios with ease.
  • Bi-Monthly Compliance Briefing – April, April 5, webinar — A bi-monthly update to help you keep up with changes and deadlines in the compliance area in a quick and easy format.
  • Engage Your Audience With Ease: Basic PowerPoint Tips and Tricks, April 5, webinar — Great slideshows don’t need to take a lot of time and effort! Learn some essential PowerPoint tips and tricks to help you effectively present any type of information to every type of audience with more ease.
  • Controlling the Risks of Power of Attorney Documents, April 6, webinar — Are you ready to tackle the complexities of power of attorney documents with confidence? This session will equip you with the knowledge and insights you need to navigate even the most challenging situations with ease.
  • Five Best Practices for Reg. E Disputes, April 10, webinar — Recently issued “FAQs” outline more consumer protection for P2P (person-to-person) fraud for many popular wallet applications, such as Zelle and Venmo. Do they know that a customer can write their PIN on a card and this will not be considered “negligent” if the card is lost or stolen?
  • Business Continuity Management, April 11, webinar — This webinar will provide insight into what your BCM program should include and how recommendations on how to update it to meet and/or exceed examiner expectations.
  • Mastering Participation Agreements: Unlocking Advantages, Managing Risks & Navigating Negotiations, April 13, webinar — Discover the ultimate advantage for both the lead bank and participant bank and learn how to mitigate risks to protect your interests. Get the inside scoop on how to avoid the dangers of lack of information and involvement in negotiations.
  • Commercial Loan Defaults: Waivers, Workouts and Amendments, April 13, webinar — Get ready to dive deep into the critical documentation required before, during and after negotiations with borrowers and guarantors. Empower yourself with the knowledge and skills you need to succeed in today’s fast-paced banking landscape.
  • 2023 Spring HR Seminar, April 18, Oklahoma City — With new technology, generational changes in leadership, processes to recruit and other HR functions processes becoming more digital, banks must keep up with these changes to be competitive.
  • 2023 Ag Conference, April 20, Oklahoma City — Bankers in agricultural and rural markets should plan to attend this year’s conference.
  • Essential Teller IssuesApril 25-TulsaApril 26-Oklahoma CityApril 27-Krebs— The program zeroes in on six modules that remind your tellers of the importance of what they do, how they do it, what they say, and how they deliver customer service.

Finally, NOW is the time to get involved in your Association, and one good way to accomplish this is to join one of our committees! We are now taking names for those interested in our committees for the 2023-2024 year. By participating with the group three to four times a year, you learn more about your profession, meet other bankers, share ideas and become better at what you do.

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