For the first time in years, Oklahoma doesn't really stand out
in comparison with other states on the latest quarterly report
from Sheshunoff Information Services Inc.
At first blush that may not sound too good, but in reality
good is exactly what it indicates _ both for the state and the
nation. The state banking industry has improved in absolute
terms, but so has the rest of the country.
Instead of Oklahoma being ranked in the top 10 on some
measure, the closest it came for the quarter which ended Sept.
30, 1993, was having the 12th lowest net charge-off figure in the
nation with $27.2 million. Even though the charge-offs
represented an impressive 43 percent decrease from the September
1992 figure, there were 22 other states that had higher
Oklahoma entered its banking crisis before the East and West
Coasts, and as such led the way in problem areas like
nonperforming loans, net charge-offs and other unpleasantries.
As the problems were _ oh so slowly _ being worked out of
Oklahoma's banks, other parts of the country started having the
very same troubles. Executives that had laughed at bumpkin
oilpatch bankers suddenly were having large doses of crow as they
came face to face with the normal reactions of a collapsed
With many other states in decline, Oklahoma began looking much
better, even though problems persisted. The Sooner State began
leading the country for indicators of improvement, such as
reductions in charge-offs and nonperforming loans. That has
slackened now that other states are showing improvements.
Sheshunoff's latest report, for the third quarter, showed that
Oklahoma had the 13th lowest percentage increase in net income
before extraordinary items, with 8.9 percent. The $282 million
earned for the nine months ranked the state 30th.
The Sooner State also had the 14th lowest percentage of net
charge-offs to average loans, with 0.2 percent.
Oklahoma banks also showed improvements in key areas from
Banks in Oklahoma County, for example, showed strong growth in
several categories. Loans rose 15.9 percent to $3.47 billion, up
from $3 billion a year earlier. Net income before extraordinary
items was up 10 percent to $56.7 million, up from $51.5 million
in 1992. Assets climbed 7 percent to $7.2 billion, up from $6.79
billion a year earlier.
The growth was despite the fact that the county had four fewer
banks reporting during the period in 1993 than in 1992. There
were 39 banks reporting in 1993, down from 43 a year earlier. …