Okla. Banking Officials: Okla. Banks Are Strong

By Brus, Brian | THE JOURNAL RECORD, September 26, 2008 | Go to article overview

Okla. Banking Officials: Okla. Banks Are Strong


Brus, Brian, THE JOURNAL RECORD


Roger Beverage and Mick Thompson have been repeating the same mantra lately: Don't worry; Oklahoma's banks are financially strong. ... Or at least healthier than the norm right now.

As the nation faces the collapse and bailout of some of its largest financial institutions, Beverage, president of the Oklahoma Bankers Association, and Thompson, the state's banking commissioner, keep trying to reassure consumers that problems elsewhere in the market do not necessarily have the same impact at home.

"In contrast to the unrest and failures that have plagued Wall Street firms as well as banks in other states, Oklahoma's financial institutions remain strong," Thompson said. "During the years that preceded this latest financial crisis, Oklahoma's community banks remained committed to their Main Street customers and avoided the types of investments and lending practices that have caused problems for Wall Street."

But can the average Oklahoma banking customer trust that the bank down the street doesn't have a stake in Sallie Mae, Lehman Bros., AIG or any other company in the bailout news this week, or that they weren't more directly involved in subprime mortgage lending that triggered the mess?

"I can tell you, generally speaking, that they did not. But I can't tell you that nobody did," Beverage said. "There might have been somebody out there that made some loans in the subprime category, but they weren't making tons of them. If they were, they got the heck kicked out of them by the regulators."

At first glance, FDIC statistics show Oklahoma's banking industry isn't a perfect picture of health. The percentage of unprofitable institutions among all Oklahoma banks has doubled over the last year, rising from 2.35 percent in the second quarter of 2007 to 4.76 percent in this year's second quarter.

That increase is even steeper for big banks, the 119 in Oklahoma with assets greater than $100 million. Only 0.89 percent of those banks were identified as unprofitable last year, compared with 4.2 percent this year.

"That's not a good piece of information," Beverage said.

And when it comes to the ratio of loss allowance to noncurrent loans and leases, anything less than a 100-percent rate suggests "a little bit of concern," Beverage said. Oklahoma's banks had an 84.09- percent rate in the second quarter this year, compared with 134.44 percent for the same period last year. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Okla. Banking Officials: Okla. Banks Are Strong
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.