OKLAHOMA - The 202 banks operating in Oklahoma in the first quarter of this year were four fewer than the Federal Deposit Insurance Corporation counted in the first three months of 2018, and six fewer than Oklahoma had in 2017. Nevertheless, according to the FDIC, total assets of Oklahoma banks grew by $13.47 billion (11.7%) during that time frame: from $114.89 billion in 2017 to $128.37 billion in the first quarter of 2019.
Of the 202 banks, the FDIC reports 74 have assets of under $100 million; 53 have assets of $100 million to $250 million; 64 have assets of $250 million up to $1 billion; nine have assets ranging from $1 billion to $10 billion; and two have assets in excess of $10 billion each. The FDIC’s latest state profile shows that Lawton has 13 banks with $1.5 billion in deposits; Oklahoma City, 71 banks with deposits totaling $30.8 billion; Tulsa, 59 banks with $25.4 billion in deposits; Fort Smith, Arkansas/Oklahoma, 21 banks holding $4.6 billion in deposits; and Enid, 14 banks with $1.4 billion in deposits.
In an examination of Oklahoma banks’ asset quality, the FDIC found that past-due and non-accrual loans have constituted 1.6% of total loans over the last nine quarters.Net loan losses as a median percentage of total loans during that time have shrunk from 0.11% to 0.02%. Growth in non-farm employment in Oklahoma during the first quarter of 2019 was 0.8%, compared to 1.9% in the first quarter of 2018, the FDIC reported. During the first quarter of this year, employment, by sectors:
• inched upward by 0.1% in manufacturing, which constituted 8% of the total state labor force;
• shot up 6% in non-manufacturing goods-producing, which accounted for 8% of the labor force;
• increased 0.6% in private service-providing, which comprised 63% of the workforce;
• declined 0.3% in the government sector, which constituted 21% of Oklahoma’s workforce; joblessness in the government sector slipped 0.4% in 2018 and fell 0.9% in 2017, FDIC ledgers reflect.
The overall unemployment rate, seasonally adjusted, was 3.3% in the first quarter of this year, compared to 3.1% in the fourth quarter of last year and 3.8% in the first quarter of 2018.