Regulatory Alerts2020-02-12
Added · Updated
State Banking Board Approves Reduction to 2020 Assessments
The Oklahoma State Banking Board approved a discount on 2020 regulatory assessments for state-chartered banks to advance Governor Kevin Stitt’s fiscal responsibility initiatives. The reduction applies a 20 percent discount to institutions with assets under one billion dollars and a 10 percent discount to those exceeding that threshold. This measure builds upon previous cuts that have collectively saved state-chartered banks over $14 million in the past nine years while allowing the agency to maintain efficient operations.
Oklahoma Banking Department sent this bulletin at 11/22/2019 08:36 AM CST
Volume 11 Number 11 November 22, 2019
State Banking Board Approves Reduction in 2020 Assessments
In furtherance of the “Top Ten State” initiatives pursued by Governor Kevin Stitt, State Bank Commissioner Mick Thompson announced this week that the Oklahoma State Banking Board approved the Commissioner’s recommendation to discount the assessments paid by Oklahoma state-chartered banks. This year’s discount is 20% for each bank with assets less than $1 billion and 10% for each bank with assets more than $1 billion. The Commissioner presented a proposed agency budget to the Board that reflected how the Department can continue its efficient operation with the discount to assessments.
When combined with previous reductions, Oklahoma state-chartered banks have saved over $14 million in assessments during the past nine years. The Banking Department has used the assessment discount as both an opportunity to reduce regulatory burden on state-chartered banks as well as an endorsement of Governor Stitt’s fiscal responsibility initiatives for state agencies.
Pictured Above: The State Banking Board Members Seated: Wade Huckabay, All America Bank; Commissioner Mick Thompson; and Brad Krieger, Arvest Bank. Standing: Sandy Bracken, First Liberty Bank; Tom Thompson, Lay Member; Bob Newcomb, Bank of Western Oklahoma; and Dennis Brand, BancFirst
Please Note:
The email address from which this communication was sent is not monitored for responses. You may send responses to regina.rainey@banking.ok.gov instead. Thank you.
CONTACT US
Oklahoma State Banking Department
2900 North Lincoln Blvd
Oklahoma City , OK 73105
Phone (405) 521-2782
Fax (405) 522-2993
Tulsa Field Office:
Triad Center I
7666 E. 61st Street
Suite 305
Tulsa, Oklahoma 74133
Local: (918) 295-3649
Fax: (918) 893-6405
Bank Board Meeting:
December 18, 2019
Credit Union Board Meeting:
February 18, 2020
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