Thursday, March 28, 2024

Oklahoma Banker

ABA, OBA create voting toolkit

It’s officially October, and news on the presidential election is on every corner. The conversation has taken over social media, television and even the dinner table. While talking about the election is a great way to educate yourself and others, the most essential part is exercising your right to vote. The American Bankers Association has teamed with the Oklahoma Bankers …

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Executive News: Next big hurdle: DEI, compliance concerns

We’ve all been impacted by the COVID-19 pandemic, some more than others. As many of you who read this column know, my wife and I have been self-quarantined since mid-March. Most days I work from home and I find the environment surprisingly calm and productive. On at least a weekly basis, I go to the office when no one else …

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Navigating work absences due to closed schools

Crowe & Dunlevy As the school year begins, Oklahoma’s banks once again face the challenge of accommodating the need for employees to be home to care for school-age children due to the negative impacts of the COVID-19 pandemic. This article focuses on the relevant paid leave mandates of the Families First Coronavirus Response Act, the challenges caused by the varying …

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Pandemic strikes banks’ net income in second quarter

On August 25, the Federal Deposit Insurance Corporation reported the banking industry saw a 70 percent decline in net income when compared to net income in 2019. The Agency said liquidity and capital levels remain strong enough to meet loan demand and absorb any losses in the future. Although economic stress related to the COVID-19 pandemic continued to affect bank …

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Executive News: Forgiveness: How’s that supposed to work?

In spite of the persistence of our COVID-19 problems, the process of getting back to “normal” grinds on. Slowly, to be sure, but slowly, nevertheless. In the meantime, the banking industry remains right in the middle of the discus sion about the Paycheck Protection Act, specifically as it relates to forgiveness. I think Congress is right to focus on forgiveness …

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Emerging Leaders Academy now accepting applications

Take note the OBA 2020-21 Emerging Leaders Academy is currently accepting applications. We’re looking for the best and brightest bankers who seek to sharpen their leadership skills. The Academy will help you reach new heights with powerful speakers offering information leaders need for effectively maneuvering in today’s business climate. Each session helps participants become true leaders by understanding those around …

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Community banks can also find COVID relief in captive insurance

By Joshua Miller & David Guerino KeyState Captive Management, LLC COVID-19 presents significant challenges for U.S. businesses across every industry, and community banks have had to respond to some unique circumstances. As we focus on moving toward recovery, nearly everyone agrees some changes to operating environments will be permanent and this is the “new normal.” When community banks adjust to …

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Executive News: Taking your eyes off the ball

Just about every banker I know, and certainly every bankers’ trade association I know, has been up to his/her/their eyeballs in Paycheck Protection Program matters – loans, guarantees, forgiveness applications and so forth since April. Four separate pieces of legislation have been passed by this Congress dealing with the subject, followed by several sets of (very confusing) rules and regulations …

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Second phase of OBRP slated to start this month

The Oklahoma Department of Commerce announced a second phase of the Oklahoma Business Relief Program, which will begin later this month. Phase II of the OBRP is scheduled to begin at 8 a.m. on Tuesday, July 14. Another $50 million has been designated for use in the Program. Additionally, when sending in OBRP applications, the Department of Commerce mentioned frequent …

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PPP extended into August

The Paycheck Protection Program was extended through Aug. 8 after a measure passed through the U.S. Senate and House early this month and was signed by President Trump. The U.S. House of Representatives approved an extension of the Paycheck Protection Program on July 1, only hours after the U.S. Senate approved the measure to extend the Paycheck Protection Program. The …

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