Newspaper article THE JOURNAL RECORD

Morrison Tucker Helped Shape Banking Industry

Newspaper article THE JOURNAL RECORD

Morrison Tucker Helped Shape Banking Industry

Article excerpt

By Nancy Raiden Titus

Journal Record Staff Reporter

When you know an industry well enough to design the specialized forms it uses, you know the industry. Being around it for 60 years doesn't hurt either.

Longtime Oklahoma City resident Morrison G. Tucker, 82, has helped to shape the banking industry on this continent and beyond, though you wouldn't know it from his reserved demeanor.

He was on the original team of examiners for the newly formed Federal Deposit Insurance Corp. back in 1933 and later became the agency's assistant chief examiner. He also wrote its first bank examination manual.

After World War II, he worked with what was left of the Philippine government to reopen that country's banks. He later lived in Venezuela, overseeing the financial interests of the family of a college buddy _ Nelson Rockefeller.

Tucker has been known around Oklahoma City as a professional and innovative banker. Sometimes his innovations have met with success and sometimes with failure, but even after more than 40 years here he continues to make an impression on fellow bankers.

He came to Oklahoma City in 1951 and has had a hand in more than a half dozen banking related companies, including his pride and joy, American Bank Systems Inc.

Tucker's interest in typography led him to begin the bank form company in 1968. The company has designed more than 600 forms and software systems. The task requires attention to detail and understanding of the ever-changing regulatory requirements, including such laws as Truth in Savings, which went into effect last month and required new kinds of disclosures for deposit accounts.

Among the innovations developed by the company are courses to help banks set up or improve their credit filing system. The system includes software and a color-coded organizational system for paper credit files.

Tucker sold his interest in the company on July 10 to James W. Bruce Jr. and Edwin B. Cook, president. Bruce, the new majority owner, became the chairman and chief executive officer. Tucker continues to serve as vice chairman and remains an active participant.

"I enjoy the work and the people. They are awfully nice people," he said.

Tucker also has been involved in numerous civic activities over the years. He has limited his involvement in recent years to Oklahoma City University, where he serves as chairman of the trustees' 12-person executive committee.

He also has been the leadoff speaker the past two years at the university's new Jack T. Conn Graduate School of Community Banking.

Tucker, or Tuck as he is affectionately known, began his banking career in 1932 with the U.S. Comptroller of the Currency, the regulator of national banks. He was transferred to the FDIC in June 1933 and worked for the agency for 11 years before going into the Navy in 1943.

Tucker said the view of the type of protection provided by the FDIC has changed over the years since the agency was first formed. Today policy makers emphasize the protection of small depositors. In the beginning, the coverage was viewed as a stabilizer of the financial payments system. The proof that it achieved its goal of stabilization came in the '80s when there were virtually no runs despite numerous failures. Runs were common during the succession of financial panics that occurred before the formation of the federal agency.

His Navy experience put him in the Philippines when that nation was in need of help to rebuild its banking system after the devastation of the war. Tucker served for about a year as a banking adviser to the Philippine government.

"Their government needed somebody to reopen their banks. I had had experience as the assistant chief of examinations for the FDIC nationwide."

The Philippine banking system was in shambles. …

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