Getting out the vote The OBA’s Adrian Beverage discusses the OBA’s partnership with the State Election Board in helping absentee voters this election year. PAGE 2
Banking on agriculture
The newspaper of the Oklahoma banking industry
June 2020
OBA President and CEO Roger Beverage looks at parallels from his past to gain some insight on the unprecedented times bankers face in 2020. PAGE 3
OBA joins colleagues in asking to simplify PPP’s loan forgiveness policy The OBA has joined two different groups of trade associations in asking the Trump Administration to simplify the confusing forgiveness process for PPP loans. “As this issue of the Oklahoma Banker goes to press, we’re waiting for President Trump to sign H.R. 7070, the Paycheck Protection Program Flexibility Act,” OBA Executive Vice President/Government Relations Adrian Beverage said. “The Senate approved the House bill by a unanimous voice vote on June 3, and it will help us make some progress in simplifying the forgiveness process. But more needs to be done.” Beverage noted H.R. 7010 does a number of things: • Expands the time for small businesses to use PPP funds from eight weeks to 24 weeks. • Reduces the SBA’s arbitrary rule dealing with payroll costs from 75 to 60%. • Expands from two to five years the maturity for PPP
loans with a remaining balance after forgiveness has been approved. • Revises the tax deferral period for PPP loans by eliminating a provision that made a PPP borrower ineligible to defer payroll tax payments if the borrower had indebtedness forgiven. • Establishes a “safe harbor” for borrowers who are unable to rehire employees because they were making more money from enhanced unemployment insurance than they would have from their same jobs. In addition, the OBA has signed on to a letter with its colleagues from 51 state bankers associations addressed to Treasury Secretary Steve Mnuchin and Small Business Administrator Jovita Carranza asking them to establish a de minimis standard below which PPP loans would automatically be forgiven. “The forgiveness process out-
Masked men
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Nearly two dozen bankers attended the 2020 OBA Intermediate School, held over two sessions on Feb. 3-7 and June 1-5. The bankers are featured in the photos on this page, all wearing their masks for safety during the ongoing COVID-19 pandemic. Seated on the front row, from left, are: Jonathan Holson, BancFirst, Sand Springs; Cody Brown, Shamrock Bank, Clayton; Joseph Ward, FirstBank, Coalgate; Ben Garner, Security Bank, Tulsa; Jodie Moore, Ameristate Bank, Atoka; Matthew Martin, First National Bank, Okmulgee; and Jesse Grandstaff, Security State Bank, Wewoka. Standing in the middle row, from left, are: Lacy Hobbs, First Pryority Bank, Pryor; Tara Teal, Citizens Bank & Trust, Ardmore; and Trey Graham, Chickasaw Community Bank, Oklahoma City. Standing on the back row, from left, are: Judson McCown, First Fidelity Bank, Oklahoma City; Jayson Stettler, First National Bank, Sedan, Kansas; Kyle Hatcher, NBC-Oklahoma, Oklahoma City; Jimmy Nance, First Oklahoma Bank, Jenks; Brent Blansett, SpiritBank, Bristow; Drew Sims, Shamrock Bank, Oklahoma City; Derek Dick, Regent Bank, Nowata; Brian Porter, American Heritage Bank, Yale; Skyler Sander, Community State Bank, Canton; Monty Brant, Oklahoma State Banking Department, Oklahoma City; and OBA Director of Education Janis Reeser.
See FORGIVENESS on Page 8
Lawton’s Walker takes OBA chairman reins
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Rick Walker, vice chairman and CEO of Liberty National Bank in Lawton, was inducted as the 2020-21 chairman of the Oklahoma Bankers Association during a video conference on May 19. Walker has been with his bank for almost 15 years. He began his banking career in 1987 working in various aspects of lending and management. He holds a bachelor’s in finance from Oklahoma State University and an MBA from Oklahoma City University. He replaces Tulsa banker Frazier Henke as the
head of the Association. Henke, president and CEO of American Bank and Trust, moves into the immediate past chairman position on the OBA Executive Committee after serving as OBA chairman for 2019-20. Amada Alvidrez, with Equity Bank in Guymon, was elected as first vice chairperson of the Association. She will move into the vice chair’s seat (currently occupied by Kyle Hughbanks, BancCentral, Alva) next year and into the chairman’s spot in 2022. See OBA on Page 8
