the first folks - First Bank And Trust

THE FIRST FOLKS
Volume 28, Number 3
www.bankfbt.com
From The President
It’s great to be in Oklahoma! Our banks continue to be
healthy and strong, with only isolated cases of weakness.
Most of those are the result of banks pursuing out of territory
loans or venturing into new areas in which they are not experienced or where they are willing to take excess risks to
develop market share. FB&T remains the only Noble County
bank to be rated “5 stars” by Bauer Financial and “A” by
TheStreet.com. This rating means our loan portfolio consists
of healthy loans, and we have adequate reserves to cover any
weaknesses. Our capital is extremely strong (over 14%), and
we are not taking excessive interest rate risk by making long
term loans with short-term and/or borrowed deposits.
The recent financial reform bill will bring its share of challenges to all community banks. While it is lauded as solving
the “Too Big to Fail” problem by putting a resolution authority
and process in place to handle the dissolution of mega-banks,
in reality it will encourage the accelerating consolidation and
elimination of many smaller community banks. The law itself
is over 2,300 pages, and the Federal regulations issued to implement the new law are expected to exceed 5,000 pages.
Each bank will be tasked with reading and interpreting these
regulations and then placing policies and procedures in place
to comply with them. We’ll need ongoing training for all personnel, as well as additional staff to research the changing
laws and monitor for compliance with them. The new law
contains additional limitations that may impact our ability to
offer long-term fixed rate mortgage loans on the same customer friendly terms that we have done in the past. While
FB&T is exempt from the direct supervision of the new Consumer Financial Protection Bureau, we are subject to all of
their soon to be issued rules and regulations. Our federal
regulator, the FDIC, recently announced the creation of a new
department to monitor banks’ compliance with and adherence to these new consumer laws – so much for the widely
circulating falsehood that community banks are effectively
exempt from the rules of this new bureau! Interchange fees
will be set by the Federal Reserve pursuant to the new law,
which we believe will be just the first step in government de-
Fall 2010
termination of what prices we can charge and what products
and services we can offer. While the big retailers are the ones
who pushed for federal regulation of debit (interchange) card
fees, don’t hold your breath waiting for them to pass such savings on to the consumer. Instead, all banks will realize declining card revenues, while they still remain the responsible
party for issuing the cards, paying for the network which
makes them available at all retailer locations and bearing the
costs and losses of all fraud. I would love to see the reaction
of these same retailers if the federal government began telling
them what products were acceptable to sell and determining
what price was “fair.” The burden of compliance on many
small institutions with limited staff will just be too great. Everyone involved in community banking agreed that changes
were needed to prevent the types of abuse that created the
near financial meltdown. However, there is very little in the
new law that addresses those issues. Many of the major culprits in that mess fall under the regulation of the SEC and
were specifically exempt from this new law. Our elected
Oklahoma officials understood the impact that this legislation
will have on the availability of financial services to rural areas
and unanimously opposed the law. Thank you to each of
them for taking the time to understand the implications and
read beyond the rhetoric!
We must all continue to stay engaged in the legislative and
regulatory process as the implementation of this law moves
forward. I’m pleased to have been chosen to serve on the
American Bankers Association’s Government Relations Council Administrative Committee as the representative for Oklahoma. We’ll meet throughout the year with bankers from
across the country and discuss issues that affect the availability of credit and financial services to our communities. We’ll
help the ABA set legislative priorities and directions to make
certain we can continue to provide needed products and services. It’s extremely important for community bankers to
work together to ensure that our customers will continue to
have choices and access to the tools that allow them to reach
their personal and financial goals.
Community Minded—Just Like You!
GHE
FB&T INSIDE NEWS
First Bank welcomed Chelci Sandefur to the First
Bank family on June 7, 2010 as a Perry drive thru
teller. Chelci lives in Stillwater and recently graduated
from OSU in May 2010 with a degree in Agribusiness
and Marketing. She spends her free time playing with
her dog, a Labradoodle, named Thomas Jefferson.
First Bank also welcomed Robin Moore to the First
Bank family on July 12, 2010 as a Perry drive thru
teller. She and her husband CJ, an employee at CMW,
live in Perry with their four children. Devin, 15,
Tucker, 10, Cody, 7, and Colby, 5, all attend Perry Public Schools. Robin enjoys following her kids in all of
their sports and school activities. She and her family
also belong to Sunnybrook Christian Church.
Upcoming Events
September
Noble County Free Fair Booth….…..……..13-17th
Lil’ Settlers Land Run &
16th Celebration Parade ……………………….18th
Billings Wheat Country Festival..……………..25th
October
POF Mississippi River Treasures …….…... 8-13th
Phillip Gregg, son of Robert and Janna Gregg,
graduated from Midwestern Baptist Seminary in Kansas City, Missouri. Following his graduation, he and his
family have moved back to Oklahoma where he works
in Stillwater managing the Casa Mia apartments.
November
Blaine and Gwen Easter celebrated their daughter’s
wedding on July 31, 2010. Meghan and Ward Kable
were married at the First Presbyterian Church in
Perry. They reside in Houston Texas.
Bank Holidays
Listed below are recent conferences and schools
attended by our employees:
Consumer/Mortgage Reform, New CFPB & Interchange Fees audio conference attended by: Gwen
Easter, Jeanie Ivy & Shirley Scott.
ARTA Lending Seminar attended by: Melissa
Gilbreath.
Fiserv EFT Solutions Product Training attended by:
Maureen Wolfe & Karen Niles.
OBA Leadership Forum & Convention attended by:
Gwen Easter, Jon Alexander & Shirley Scott.
Teleseminar with David Allen, author of Getting
Things Done attended by: Shelbi Duke, Barbara
Ebersole, Melanie McGuire, Jeanie Ivy &
Melinda Williams.
OSCPA Spring Industry Conference attended by:
Gwen Easter.
The Graduate School of Banking attended by:
Shirley Scott.
Link up, Lean in, and Lead on seminar by Meridian
Technology attended by: Jeanie Ivy, Mindy Linn
& Charity Moxley.
Motivated to Succeed, Motivated to Purchase teleseminar by Harland Clarke, attended by: Yvette
Dow, Shelley Hawkins & Melanie McGuire.
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POF Quilter’s Shop Hop Adventure ………….. 6th
September
Labor Day ……………...……………………….6th
October
Columbus Day …………………………..…… 11th
November
Veterans Day ……………………………..….. 11th
Thanksgiving Day ………………………..….. 25th
Join us September 3rd
for a Customer
Appreciation Day
Come join us for a
FREE windshield wash in
our Drive Thru from 10:00 to 2:00 on
Friday September 3rd! Bank employees will be
washing windshields & handing out cold bottles of water to help you beat the heat as a
“Thank you for your business!”
FREQUENTLY ASKED QUESTIONS ABOUT MY NEW DEBIT CARD...
Q. Why does the charge appear right away
on my account with an asterisk beside it?
A. This is the preauthorization, which will
drop off in three days or after the authorized transaction is “posted” to your account.
Q. Does the preauthorization post to my account?
A. Only the completion of the actual transaction will post to your account. The preauthorized amount may be different than the
actual transaction.
Q. Why is the preauthorization only for $1
for many gas purchases?
A. If you see a $1 preauthorization, the completion will come through for the total
amount of the purchase, usually the same
day, and the $1 will never truly “post” to
your account.
Q. Is it best to use my card as a debit or
credit?
A. You can use your card as a credit and sign
your name, or you can use your card as a
debit (this is referred to as PIN Debit) and
put in your PIN. We allow either method
and they both post the same to your account. A few retailers only allow credit.
Q. What is my daily spending limit?
A. You have $500 a day per card.
Q. Can I get cash back without going to an
ATM?
A. You can use your card as a PIN Debit and
get cash back at most retailers. This
saves the expense of going to a foreign
ATM. Not all retailers offer cash back, so
be sure and ask first.
Q. Why does my card not have the raised
lettering?
A. New technology allows the cards to be
printed without the raised lettering. It
should not keep you from using your card
just as you normally would. This will also
lesson the wear on the card.
Q. Why is the preauthorization with the asterisk sometimes different than the
amount of my purchase?
A. Some retailers will round up your transaction to a whole dollar. An example
would be a purchase for $3.59 may preauthorize for $4, but the actual posted
amount will be accurate and the $4 will
never “post”. Some restaurants will automatically pre-authorize your meal with a
tip estimate added. Once again, only the
correct amount will actually “post” to
your account.
Q. How can I change my PIN?
A. You may change your PIN at any First
Bank ATM or call or come by.
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TRAVELTIME
Celebrating 27 Years of Travel!
newsletter
If you would like more information or to make reservations, please call Ann Hight or Cindy Boone in Perry
at 580-336-5562; Kay Evans in Billings at 580-725-3222; Janna Gregg in Covington at 580-864-7421.
Shop Hop Adventure
Saturday, November 6, 2010
A fun-filled outing to the
27th Annual
Creek County HCE Quilt Show
PLUS
*Reddiks Country Living Store
in Mannford
*The Little Quilt Shop
in Sands Springs
*The Quilting Post
in Stillwater
This fun-filled day offers quilts,
door prizes, deluxe motor coach
transportation, bank tour escort &
vendors!
$49.00 per person*
(non-customer $55.00, lunch on own)
Deadline for reservations:
October 1, 2010
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Christmas Lights Tour
December 3, 2010
Join us as we celebrate the
Christmas Season
Tour Inclusions:
*Lunch at Bad Brad’s-Pawhuska
*Cathedral of the Osage
*Keepsake Candles
*Woolaroc Museum and Ranch House
*Woolaroc Wonderland of Lights
*Deluxe Motorcoach Transportation
*Bank Escort
$80.00 per person
(non-customer $85.00)
Deadline for reservations
November 17, 2010
Pacific NW Tour
Myr-Lou Rollins & Kenneth Wade enjoy
the scenery while waiting to board the
ferry to the Olympic Peninsula, Washington.
POF pictured together at Lake Crescent in Olympic National Park,
Washington.
Pam Steichen, Betty Kindschi, Alline Pfeiffer &
Doris Friend pose at Hurricane Ridge in Olympic
National Park, Washington.
Betty Waters and Joan Stinnett at the Tillamook
Cheese Factory in Tillamook, Oregon.
Marilyn Voise, Carolyn Dupy, Mary & Bob
Weinkauf, Fran Wagner and Lou & Floyd
Jameison rest after lunch and shopping at Pike
Place Market, Seattle.
After touring the Columbia River Gorge National
Scenic Area, Katlyn, Jean & Ben Crockett, Petie
Cutsinger & Ernie Luckert enjoy dinner on the
Hood River in Oregon.
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Kids Klub News
Kids Klub Membership is FREE!!! Contact us for membership information.
Kids come by and sign up to be a First Bank Kickoff Kid at
your high school’s weekly home football game. If we
draw your lucky name, you win…
Pumpkin Decorating
Free Game Ticket
Special Game Shirt
Pre-Game Locker Room Visit
Autographed Football
Take the Field with the Team
Your Picture in Our Weekly Ad
October 18th
5:30-6:30 pm
Watch your mailbox
for more details!
Winners will be drawn on Monday before each home football game. Contestants may sign up any time during the
season in the Perry or Covington bank lobbies. One entry
per child per visit.
TRICK OR TREAT
WITH QUIGLEY
Drop by our bank on the evening
of October 29th and receive your
Halloween treat from Quigley.
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Lil’ Settlers Run
Saturday, September 18th
Check-in at 8:45 am. Race begins
at 9:00 am on the east lot at the
First Presbyterian Church. Prizes
will be awarded to five age groups:
1 and under, 2, 3, 4, and 5 years
old. Please register at the bank by
Friday, September 17th.
Watch your mailbox for
more information on
our Family Turkey
Feather Decorating
Contest.
KIRK WARD—INVESTMENT CENTERS OF AMERICA, INC.
Don’t Be Shortsighted!
After speaking with many of my clients during
the past few weeks as they digested their June
30, 2010 statements, I thought it was important
for all of you to have the same information I’ve
been providing them.
The majority of my clients saw what I would term
as disappointing performance for the second
quarter of 2010 (April 1 to June 30). Those with
“mostly stock” portfolios were down, most by at
least 5%, many over 10%. Those with “mostly
bond” portfolios realized little gain because of
the relatively low interest rates being paid.
Some were certainly “up”, but most were not.
The “good news” however is that when we expanded the clients’ horizons, we saw that the
Year to Date performance (six months trailing)
was generally flat to positive. If we went a little
farther, taking the view back one year (twelve
months trailing), we now saw that nearly all performance was positive, some as much as
10-15%.
The moral of the story is “don’t get caught not
looking past the end of your nose”. In the real
world of investing, short term is measured in
years (like 3 or 5 or 10) and not in days or weeks
(or even quarters). Long term performance
(which most of us should be concerned with) is
generally in excess of 10-15 years. Remember,
even if you are at or approaching the age of retirement, you’re not looking at the finish line. In
fact, for some who choose to retire at a relatively
young age, there is a distinct possibility that they
may spend more years in retirement than they
did working.
So what’s the answer? In
my opinion, the answer is
that there isn’t one answer.
Each person’s
situation is different. Only
by thoroughly examining
your individual condition,
taking into account such
items as income and estate tax considerations,
insurance needs (life,
long-term care, disability),
retirement income needs,
and asset availability through the process of Financial Planning, we can help you determine how
best to plan for the future, manage risk, and ultimately invest your money. Whether you are
working with me or someone else, make sure that
your advisor is committed to the “whole you”, not
just where to put your current money. If you have
doubts, I would suggest you broaden your vision
and come see us at Investment Centers. Commitment and experience along with access to advice through assets such as our Financial Solutions Team make us uniquely qualified to serve
the Perry community.
Kirk Ward
Financial Advisor
Kirk Ward is the “ICA” Investment Representative located at First Bank & Trust, 401 N. 7 th Street (P.O. Box 878) in Perry, OK
73077 and can be reached at 580/336-1010 or by e-mail [email protected]
Investment Centers of America, Inc. (ICA), member FINRA, SIPC, a registered Investment Adviser, is not affiliated with First Bank & Trust. Securities, Advisory Services and Insurance products are offered through ICA and affiliated insurance agencies and are * not insured by the FDIC or any Federal
Government Agency * not a deposit or other obligation of, or guaranteed by any bank or its affiliates * subject to risks including the possible loss of principal
amount invested. * Investment Centers of America, Inc. does not provide tax advice.
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P.O. Box 878 Perry, OK 73077
FRAUD ALERT!!
BANKING ON THE GO!
REMEMBER to Review Your
Transactions in a Timely Manner
Recent reports from the Oklahoma Bankers
Association Fraud Division, indicates a major increase in debit & credit card fraud in
Oklahoma & surrounding states.
If you have online or mobile banking, take a
few moments each day to log on and check
your bank accounts to help catch problems
before things go wrong. If you don’t have
online access, look at your monthly paper
statements closely!
Member FDIC
IT’s FREE….Sign Up Today!
Access to all of
your accounts
24/7 from any
computer with
internet access
or web enabled
mobile phone.
E-statements, Text
Alerts, Funds Transfers & Bill Pay are available.
Call or stop by TODAY to get started.
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