Wednesday, February 21, 2024

Week of Jan. 29

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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It was nice to see the sunshine again on Monday! I almost forgot what it looked like!

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Wednesday is our first board meeting of 2024. We have a lot to discuss with the state legislature about to get started in the next couple of weeks. It’s going to be a busy session and there’s an absolute TON of bills we’ll be watching closely, particularly early in the session.

Speaking of government relations, 2024 is an election year and the OBA PAC is gearing up for a busy season. We’ll be reaching out in the coming months with more information. A huge thank you to all the bankers who already contribute to the PAC. Contact Megan McGuire or myself here at the office to find out how you can be an active part of the lobbying effort of your industry!

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We’ve pretty much officially hit the doldrums of the sporting year. There’s only one football game left between now and August, and baseball season is still weeks away. I enjoy college basketball – I helped coach when I was a student in college at Southeastern Oklahoma State – but I just don’t get truly stoked about it until March. Oh well, it could be worse: I could be a Lions fans left to ponder for the next seven months what had to be the gnarliest final quarter-and-a-half in recent NFL history.

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OCC proposes new rules for bank merger approvals

The Office of the Comptroller of the Currency proposed a new rule on Monday to end the time limit for automatic approvals of mergers of the banks that it supervises.

At the same time, the agency released a policy statement on how it would analyze future merger and acquisition applications, with a focus on separating mergers that can be quickly approved from those that require more scrutiny. The OCC said it views the statement as summarizing existing policy rather than setting new standards.

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OBA updating employee handbook – assistance from banks welcome

The OBA is in the process of updating its employee handbook, with personnel policies. We’d appreciate if any bankers would share their own institution’s book/policies with us so we can make sure we mirror our member institutions in ways we can, and also make sure we aren’t missing any good ideas! Drop Lea Ann Jackson an email here in our office if you can help out! Thanks in advance!

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OBA Senior Management Conference slated for Vegas in early April

The Oklahoma Bankers Association 2024 Senior Management Conference is scheduled for April 7-9 at the Waldorf Astoria in Las Vegas.

One of the key benefits in the conference will be talking with your peers. Attendees at the OBA 2024 Senior Management Conference will be surrounded by those with similar titles, similar workloads, similar problems and likely solutions to issues that can be just as similar. If you have any questions or want to get signed up, contact the OBA’s education department at 405-424-5252.!

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2024 Compensation Trends & Employee Benefits Survey open for bank participation

We are excited to announce the 2024 Compensation Trends & Employee Benefits Survey is now open for participation!

The survey covers recent trends in various compensation programs such as: annual incentive plan design and payouts, equity/mid-term incentive programs, executive benefits, employment/change-in-control agreements, deferred compensation plans/supplemental executive retirement plans, perquisites and employee benefits surrounding 401K plans, medical coverage and more.  This survey will provide valuable market data on a wide variety of compensation-related topics.

Please click here to complete the survey. The deadline to complete the survey is Friday, Feb. 23.

Survey pricing and subscription option

In 2024, we are introducing a subscription option for our surveys.  You can prepay and purchase both of our 2024 surveys at one time.  This offers a streamlined approach for your convenience and helps with budgeting survey costs for the year.  The 2024 subscription includes both the Compensation Trends & Employee Benefits Survey and the Salary & Cash Compensation Survey (conducted later in the spring/summer).

Subscription option pricing (Includes both surveys)

  • OBA participant: $550.
  • OBA non-participant: $1,000.

Individual survey pricing:

  • 2024 Compensation Trends & Employee Benefits Survey: $200 (participant) / $350 (non-participant).
  • 2024 Salary & Cash Compensation Survey: $350 (participant) / $650 (non-participant).

**Please note if you choose the subscription option at the participant rate; however, are unable to participate in one or both surveys, no refunds will be issued.  In such cases, the bank has the option to purchase the survey findings at the non-participant rate, and the difference in cost will be invoiced accordingly.   

To pre-order your copy of the survey, express your interest in the subscription option, or if you have any questions regarding the survey, please contact Elyse Hoffmann at surveys@blanchardc.com or call 608-843-9672.  We appreciate your time and commitment to contributing to the success of our surveys.

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Latest Bank Performance Report available with special pricing

Curious how your bank stacked up against the competition in 2023?  We can help!

The Q4 2023 Bank Performance Reports will be available in early February, and we are offering special introductory pricing to non-subscribers. The Q4 report is our most comprehensive quarterly edition as it offers a full year of performance and benchmarking data for every bank in your state. The BPR eReports (PDF & Excel) include all performance and benchmarking data for further data comparison and manipulation.

While the standard quarterly reporting service is always available, we are offering the stand-alone 2023 Q4 BPR eReports for a one-time introductory fee of $500 (a printed, bound and tabbed report is available for only an additional $50).

Order the Q4 2023 BPR today to see how your bank finished the year relative to your peers and what improvements need to be made in the new year.

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OBA education corner …

You know what we still haven’t done over here at the OBA? Figured up the win/losses from the bowl season for our college football picks! Yes, the last bowl game ended more than three weeks ago, but maybe the reason why we haven’t done it is because it’ll mean college football season is TRULY over. Oh well. While we’re shuffling through to see who picked whom in the Duke’s Mayo Bowl, take a little the time to check out our upcoming continuing education opportunities!

  • Vendor Management – Agencies’ Expectations, Feb. 1, Oklahoma City — Stay ahead of the game in the new era of fintech! Join this webinar to learn to navigate the changing landscape of vendor management and mitigate risks associated with third-party relationships.
  • Regulation CC for Tellers, Feb. 6, webinar — Get your frontline ready for business with this webinar. Regulation CC is the regulation governing the availability of funds for transaction accounts and holds that financial institutions can place on checks. We will discuss the details and answer all of the questions new tellers will have.
  • NACHA Quarterly Update – February, Feb. 6, webinar — During this webinar, we will discuss the current environment, the recent enhancements to the ACH network and the rules that have been created or amended from NACHA.
  • IRA Reporting to the IRS – Getting it Right!, Feb. 7, webinar  — If we don’t understand the transaction descriptions when we are coding an IRA transaction, there’s a good chance it won’t report correctly to the IRS – sometimes resulting in a letter and bill issued to the customer.
  • Marketing Compliance in 2024: Reeling Them in Without Tripping Up, Feb. 8, webinar — Whether your marketing promotions are digital, print or televised, multiple regulations prescribe what can be said, the elements that should be included, and how they should be displayed.
  • Understanding Commercial Loan Documents, Feb. 8, webinar — In this webinar, you’ll gain insight into the various documents required for loans.
  • Call Report Seminar, Feb. 13, Oklahoma City — This one-day seminar focuses on equipping community banks with the fundamental knowledge necessary for completing an accurate and efficient Call Report.
  • The Right of Setoff: What Bankers Need To Know, Feb. 15, webinar — The right of setoff is a complicated, but very effective, tool for collecting debts owed to a bank. Learn the best practices and dangers that can arise when using this process.
  • Let’s Talk Testing for UDAAP, Feb. 15, webinar — The Dodd-Frank Act makes it unlawful for any provider of consumer financial products or services to engage in any unfair, deceptive or abusive acts or practices. While this is not new news, it is critical that your institution conducts testing across its product lines and services to ensure UDAAP issues are not quietly lurking!
  • Overdrafts – Compliance and Risk Management Expectations, Feb. 15, webinar — Join us for a crucial and timely discussion on the ever-changing landscape of overdraft programs. Discover the latest regulatory expectations and how financial institutions are adapting.
  • 2024 Bank Directors Symposium, Feb. 22, Oklahoma City — This event will provide updates on topics, including the M&A landscape, economic outlook, the roles of the board and management in the credit process, regulatory expectations, identifying characteristics of high-performing banks and critical areas for a bank’s success.
  • Retail Management Workshop, March 13-14, Oklahoma City — This two-day, interactive workshop designed to provide a complete overview of management and leadership principles for retail managers serving in all roles of the retail banking line of business for the bank.

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