Greetings from Guy By Guy Sims OBA Chairman The House passed a tax reform bill Thursday and the Senate version is on a fast track for a vote before Christmas. Several Senate Republican have already come out against the Senate version of the bill and there is no support from Democrats at this point.  Should the Senate pass the current …

Greetings from Guy By Guy Sims OBA Chairman Tax reform bills have now been introduced in the House and the Senate. Both bills contain language not favorable for community banks with Sub S ownership structure. In addition, the House plan contains language that would be detrimental for deferred compensation plans. These two issues will have a damaging effect on many …

Greetings from Guy By Guy Sims OBA Chairman Editor’s Note: Guy is currently on the road. In the meantime, Guy shared this photo from Las Vegas, where he is attending a conference. Back to top   Regulatory Feedback Initiative continues We need you! Did your bank undergo an exam in 2017? We are rapidly approaching the end of another year. …

“Legalese” for non-lawyers Required year-end housekeeping

On Nov. 2, House Republican leaders released a draft of tax reform legislation – the Tax Cuts and Jobs Act – that makes numerous changes to the tax code for corporations and individual taxpayers. The more than 400-page bill also includes a number of provisions that will have a direct and indirect effect on the banking industry. Among the key …

Greetings from Guy By Guy Sims OBA Chairman Another interesting week in politics, both at the state and national level. At the state capitol, the Republican-led House failed to pass a budget bill on Wednesday and failed to pass a budget bill out of committee on Friday.  These two measures were the “brainchild” of Senate Republicans!  The state budget issue …

Greetings from Guy By Guy Sims OBA Chairman The past four weeks have been busy at the OBA. The Bankers’ Night Out series was held at six locations across the state, more than 70 Oklahoma bankers traveled to Washington for the annual congressional visit and several Oklahoma bankers attended the ABA convention in Chicago. This week will include GRC (Government …

2021 Banking Code Order Form (.pdf) Order online This annually revised desktop reference is a must for every bank, attorney and CPA. It contains: All the statutory provisions of the Banking Code; complete rules of the State Banking Board; legislative changes; Oklahoma Financial Privacy Act; Oklahoma Tax Commission; decedent account reporting statute; in-lieu tax provision; sale of checks act; branch banking …

Greetings from Guy Is your bank open, closed on Veterans Day? OBA hosting technology conference in November OBA education corner …

I was recently in D.C. with 70 fellow bankers. During our visit, Rep. Lucas took time out of his busy schedule to meet with us for a few minutes. His dedication is greatly appreciated. During our visit, a hot topic was tax reform. As I understand it, the bill would have an easier road if it were revenue neutral. I …