IBC Bank Opens First Branch in Bixby

IBC Bank continues its strategy of offering seven-day banking and late hours with the opening of its first location in Bixby, its 61st branch in Oklahoma.
The bank at 11886 S. Memorial Drive opened May 18.
“At IBC, we continually make efforts to expand our presence across Oklahoma by offering our customers greater access to qualified financial advisors and all the tools they need to manage and maintain their financial portfolio,” IBC-Oklahoma President and CEO Tom Travis said.
The 3,600-SF branch features a four-lane motor bank, a drive-up ATM machine lane and a large conference room. Like all IBC branches, this location offers a full range of deposit and loan products for personal and business customers. Customers will also be able to schedule on-site appointments with representatives from IBC Investment Services to learn more about the bank’s investment options.
Jason Dulin will serve as branch manager. Branch lobby hours will be Monday–Friday, 9 a.m.-6 p.m.; Saturday, 9 a.m.-3 p.m., and Sunday, 1-5 p.m. Branch drive-thru hours will be Monday–Friday, 8 a.m.-6 p.m.; Saturday, 9 a.m. -3 p.m., and Sunday,1-5 p.m.
MidFirst Bank Adds Jobs, Earnings Remain Strong
Despite the worst economic downturn in the past 60 years, Oklahoma’s second largest bank, Oklahoma City-based MidFirst, continues to post solid results.
Similar to its peers, MidFirst’s earnings declined from the same quarter last year as it added to its loan loss reserves. However, based on the most recently available industry data, MidFirst’s earnings performance ranks it in the top 5 percent of all banks in the U.S. MidFirst’s assets grew by 2 percent compared to the same period last year.
In light of the nation’s recession, the bank decided to further strengthen its reserves as protection from future potential loan losses, resulting in a first quarter net income of $44.8 million, compared to $68.2 million for the same quarter last year. MidFirst’s assets total $14.4 billion and the bank has a combined regulatory capital and reserve base of $1.2 billion, exceeding well-capitalized criteria established by its regulators.
“MidFirst’s strong capital position and diversified business strategies have enabled the bank to establish a long trend of superior financial results, consistently outperforming national averages relative to its peers. Among the 100 largest banks in the United States, only 14, including MidFirst, achieved year-over-year earnings growth in 2008,” said Jeff Records, chairman, president and chief executive officer for MidFirst Bank.
“While many banks struggle as a result of the decisions that led to the mortgage crisis, MidFirst’s role as the fifth largest government loan servicer in the United States with 340,000 loans totaling $26.6 billion, and its related government-backed investments provide exceptional strength and stability to the bank’s balance sheet. During 2008 MidFirst expanded its government loan servicing operation with the purchase of servicing rights related to loans totaling $14.5 billion. This sizeable acquisition led to the creation of 100 additional jobs within MidFirst’s mortgage servicing operation in Oklahoma City at I-44 and Broadway Extension. The acquisition also had an immediate positive impact on MidFirst’s core earnings,” Records said.
“Although the decline in earnings for the first quarter partially reflects the strengthening of the bank’s reserves, it also reflects the fact that 2008 was an exceptionally strong year as evidenced by comparison to peers. As such, we remain committed to our expansion plans. This is a time when MidFirst is not only investing in its future, but also positively impacting the economy with continued growth and job creation. MidFirst’s optimism is evidenced by its increasing investment in Oklahoma where two new banking centers are scheduled to open in 2009,” he said.
MidFirst is Oklahoma’s second largest bank with over 570,000 retail, commercial, and mortgage customers, 50 offices and over 100 ATMs across Oklahoma. MidFirst is a member of the Midland Group of companies and is Oklahoma owned and operated. The Midland Group has served the financial needs of Oklahomans for more than 55 years and is among the largest employers in the state with more than 1,800 employees.
UMB Among Best Banks in Financial Stress Test
Kansas City, Mo.-based UMB Financial Corp. ranked No. 5 in a “stress test” conducted by SNL Financial to determine the best capitalized bank holding companies nationally.
SNL Financial ranked bank holding companies between $1 billion and $100 billion in assets. A total of 418 banks were tested based on financial data as of Dec. 31, 2008.
UMB Financial was cited in the report as a public bank holding company that “would emerge from the stress-test scenario with the highest excess levels of Tier 1 common capital.”
SNL’s methodology consisted of applying adverse loan loss rates to the loan portfolios of bank holding companies.
“Throughout our 96-year history, a high quality balance sheet and strong capital ratios have been at the core of our operating performance, and have resulted in UMB posting a strong fourth quarter and record year in 2008,” said Mariner Kemper, chairman and CEO of UMB Financial Corp. “While this economic environment has been challenging for the industry, we’ve continued to grow our loan portfolio by sticking to our core lending principles-lend to customers we understand, lend in our territory and originate our own loans. Our record loan balances of $4.4 billion as of Dec. 31, 2008 are proof that this strategy is paying off, while our nonperforming loans are only 0.20 percent of total loans.”
UMB’s Tulsa branch is at 1437 S. Boulder Ave.
TU, ORU Students Among CPA Scholarship Winners
Two University of Tulsa and three Oral Roberts University students are among those receiving a total of $23,760 in scholarships given through the Oklahoma Society of Certified Public Accountants’ Educational Foundation for the 2009-2010 school year.
According to the American Institute of Certified Public Accountants, more students are currently pursing accounting degrees than in the 36 years the information has been tracked. In an effort to assist Oklahoma’s accounting students, the OSCPA Educational Foundation annually awards scholarships to accounting students at Oklahoma colleges and universities. The OSCPA also offers high school scholarships for incoming freshman who plan to study accounting.
The two TU students are Katie Peper, a graduate student, who was selected to receive a $1,000 Retha Duggan scholarship, named for the former OSCPA executive director, and Jessika McCarver, a senior, who was awarded a $1,000 Educational Foundation Scholarship.
The three ORU students receiving $1,000 scholarships are David Stiles, a senior; Katherine McNamara, a graduate student, and Kaitlin Sharpe, a junior,
The scholarship recipients will be recognized at the annual OSCPA Annual Members Meeting on June 12 at the Renaissance Hotel and Convention Center in Tulsa.
IBC Recognized by Texas Bankers
For dedication and commitment to bettering the community in which it serves, The Texas Bankers Foundation, the philanthropic arm of the Texas Bankers Association, presented one of its Cornerstone Awards to International Bank of Commerce for the coordination and implementation of its Operation Care Drop program.
IBC, in partnership with H-E-B and Operation Interdependence, organized and coordinated the community-wide effort across Texas and Oklahoma to collect supplies for active duty military deployed overseas. Operation Care Drop began in the Rio Grande Valley in 2006, and over the last three years has grown across IBC’s Texas and Oklahoma branch network.
“On behalf of all of our employees across Texas and Oklahoma, it is an honor to receive this recognition from the Texas Bankers Association,” IBC Chairman and CEO Dennis E. Nixon said. “We pride ourselves on our commitment to providing high quality financial services while also ‘doing more’ for the communities we call home. Operation Care Drop is a cause we are proud to be a part of, and our support is a small token of appreciation for the service of the men and women defending our country.”
During a two and a half week collection period in November 2008, more than 180 IBC branches across Texas and Oklahoma served as drop sites for donation items. Citizens donated items such as chewing gum, snacks and travel-sized supplies, and letters of support or thanks to a soldier were also collected in the IBC “Drop Zones.” To help pack and ship the goods overseas, IBC and H-E-B worked with Operation Interdependence, a civilian-to-military delivery system which provides a secure and streamlined means to deliver well wishes to those in harm’s way without overloading the military delivery system. The more than three and a half tons of supplies collected during Operation Care Drop reached nearly 14,000 servicemen.

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