Thursday, June 13, 2024

Week of Jan. 1

In This Issue…

From Adrian’s desk …

By Adrian Beverage
OBA President & CEO

Just some random tidbits that might be of interest to our bankers this week!

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Happy New Year! I hope everyone enjoyed the holiday season as much as I did. I will admit, however, it’s nice to get back into a routine and the regular roll of things here in the office!

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I always find year-end reflections to be interesting, and this one from the ABA Banking Journal is no different. It’s a top 10 list of the most-read stories on the Banking Journal’s website this year, led by, not surprisingly, one that concerns the compliance outlook for the year.

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I attended an OU men’s basketball game on New Year’s Eve, as I watched the Sooners defeat Monmouth to complete an impressive one-loss non-conference slate. It did make me think of one one fascinating statistic that relates back to my college sports team of choice: Nebraska men’s basketball team is the only major conference program to have never won a NCAA Tournament game.

Yay?

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Oklahoma Department of Commerce seeks information from lenders

The Oklahoma Department of Commerce has received an allocation of $7,592,300 from the U.S. Department of Energy under its Energy Efficiency Revolving Loan Fund Capitalization Grant Program, established by Section 40502 of the Infrastructure Investment and Jobs Act, which will provide the funding for the new program.

In the event the program is successful, the ODOC State Energy Office will consider expanding the loan program to additional markets and adding an additional $27 million from a loan fund that is stagnant and in need of restructuring.

ODOC is wanting bank lender input for the proposed programs to make these collaborative programs effective. It has put together an Request For Information with several questions for lenders. If you would like to assist, you can click here to download the RFI.

Responses – and any questions you may have – can be sent to Greg Gaden, with ODOC Energy Programs.

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Banking agencies update electronic communications rules

The banking agencies have updated their uniform rules of practice and procedure to recognize the use of electronic communications in all aspects of administrative hearings and to other increase the efficiency and fairness of administrative adjudications.

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Join us for Elaine Dodd’s retirement party!

The OBA will host a retirement party in honor of Elaine Dodd’s 20 years of service with the Association.

The event will take place from 1-3 p.m. on Friday, Jan. 19. at the Harris Event Center at the OBA offices in Oklahoma City.

Please RSVP by Jan. 16 to Nancy McKinnis if you plan to attend. We hope to see you there!

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OBA education corner …

Only one more college football game left in the season … then an eight-month slog until the next one. I guess there’s always college basketball to keep us interested? Oh, who are we kidding, let’s just start the countdown: It’s only 36 days until the beginning of NCAA softball season! As you begin to count down the days until the big yellow ball is being slung around, don’t forget to take the time to check out our upcoming continuing education opportunities!

  • Overview of New CRA Rules, Jan. 10, webinar — It has been years since the federal bank regulatory agencies have overhauled the Community Reinvestment Act regulations. Right now, major revisions are unfolding, but in an awkward manner.
  • You’ve Been Served: Best Practices In Processing Subpoenas, Garnishments and Tax Levies, Jan. 10, webinar — This webinar will provide attendees with best practices and red flags for dealing with the various legal documents served upon financial institutions.
  • Fair Lending Essentials, Jan. 11, webinar — Federal fair lending enforcement actions against financial institutions continue to happen and are a big risk to any financial institution, regardless of size or complexity.
  • 2024 Compliance Updates, Jan. 17-Tulsa, Feb. 1-Oklahoma City — These Updates are separated into operations and lending for each day: they can be registered for together or individually.
  • Compliance Management, Jan. 18, webinar — You will learn how best to utilize your resources to create an effective CMS or enhance your current CMS.
  • Creating the Right Enterprise Risk Management Program for YOUR Community Bank, Jan. 18, webinar — Are you creating your first ERM Program for your bank? Do you want to ensure your current program is complete, yet keep it simple? If you said yes to either question, this webinar is for you!
  • Escrows, Jan. 19, webinar — In this webinar, we’ll discuss the mechanics of establishing and maintaining escrow accounts, as well as in what situations escrows must be maintained.
  • Women In Banking Luncheon, Jan. 23-Broken Arrow, Jan. 24-Oklahoma City — The Imposter Syndrome: What is it? Why do we have It? How do we overcome it? Attend either or both of these luncheons to find out more. Kristi Spaethe, CEO of The People Perspective and People Perspective Search and Recruiting will be the featured speaker in Broken Arrow, while Dr. Mautra Staley Jones, president of Oklahoma City Community College, will highlight the Oklahoma City event. Attendance is free, but registration is required!
  • IRA Annual Update 2024 – Keeping Up With The Latest Changes, Jan. 23, webinar — In the last three years, we have had the most substantial changes to IRAs since 2002. The difference today is that there are still many outstanding issues that need to be resolved. This webinar is a thorough review of what’s changed and what’s in limbo.
  • Intro to Financial Analysis, Jan. 30-Oklahoma City, Jan. 31-Tulsa — This seminar will provide bankers with a thorough understanding of the key elements of the commercial borrower’s cash flow and relate these elements to the requirements of safe and sound loan structure.
  • 2024 OBA Intermediate School, session I-Feb. 5-9, session II-June 3-7, Oklahoma City — Presented over 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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