Thursday, December 8, 2022

Oklahoma Banker

FDIC chairperson announces resignation

FDIC Chairperson Jelena McWilliams announced her resignation on Dec. 31 via a letter to President Joe Biden. McWilliams, a Republican, was named the 21st chairperson of the FDIC in June 2018 after being appointed by then-President Donald Trump. Her official departure has been set for Feb. 4, with FDIC board member Martin Gruenberg reported to become acting chairman – his …

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Leverage ratio returns to 9% for new year

With the expiration of coronavirus-related relief provided under the CARES Act, the community bank leverage ratio will revert to a minimum of 9% starting on Jan. 1, 2022, the banking agencies said in late December. Banking organizations that elect the CBLR framework on their March 31, 2022, call reports will be subject to the requirement. “The community bank leverage ratio …

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Executive News: Celebrating our Hall of Famers

Early this month, the OBA hosted the third Oklahoma Bankers Hall of Fame Induction Ceremony. This year’s class included four bankers who have been – and still are – pillars in the bankin g industry, their communities and the state of Oklahoma. This class falls right in line with previous inductees with their storied history and contributions still being made …

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Hall of famers

By Payton Moody OBA Communications Intern It was a day that meant so much to bankers – a day to honor and celebrate their careers with friends and loved ones. The Oklahoma Bankers Hall of Fame ceremony is always a special occasion, and this year’s Dec. 2 event was no exception. Four bankers were inducted into the Hall of Fame, …

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Oklahoma banks post big profits for third quarter

Net income at Oklahoma banks increased by more than 50% overall from the second quarter to the third quarter of 2021. The FDIC’s latest Quarterly Banking Profile, which was released in late November, showed good news for Oklahoma banks. After reporting $999 million in profits through the end of the second quarter, Oklahoma commercial banks showed more than $1.5 billion …

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Executive News: Bankers’ Night Out events wrap up autumn season

The first week of this month, we wrapped up our fall Bankers’ Night Out events. We traveled to six different locations across the state and were able to visit with more than 700 bankers. Thanks goes to Miles Pringle with The Bankers Bank, who joined us to talk about everything bitcoin and digital currency. Along with Miles, we covered a …

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IRS reporting issue not part of initial budget framework

The Biden Administration and House leaders released the framework and legislative text of the Build Back Better plan in late October, and the package does not contain any language on the tax information reporting proposal opposed by the ABA, OBA and other state bankers associations. Please note, however, the release of the framework and text is only a part of …

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Executive News: IRS reporting issue, OCC nominee highlight latest issues

Last month, we talked about the reconciliation bill being discussed in Congress, along with the IRS proposal. Fast forward one month and nothing has changed. No vote has been taken on reconciliation bill and no vote has occurred on the Senate infrastructure bill. Here’s a look at where we were and where we are at today. The $1 trillion Senate …

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Banking profits increase in 2021’s second quarter

Despite the drop in net interest revenue, 64.1% of Oklahoma banks reported more net interest income than the previous year, according to the recently released Quarterly Banking Profile by the FDIC for the second quarter. For Oklahoma banks, the average return on assets was 1.24% in the second quarter of 2020, up from 0.36% the previous quarter. The FDIC reported …

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Executive News: Thank you, you shouldn’t have … really

I want to thank all of you for all you did for the American people during the PPP – a program of that magnitude had never been done before. You dealt with constant rule changes, lack of information and everything else that made your life hectic for months. Because of you, a massive number of businesses both small and large …

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