EDMOND — Citizens Bank on Jan. 27 agreed to a lengthy list of reforms and measures with federal regulators with the aim of improving oversight and certain lending practices. The bank has 60 days to submit a written plan on all action items to regulators and those actions reach as high as the bank’s own board of directors in the area of credit risk management, loan review and mitigating risks.
It’s a shame to see such a centerpiece of the local community put in this position, but to the 100-year-old bank’s credit it has taken several key steps since the end of 2009 to restore credibility in both the eyes of regulators and its customers.
The bank has hired a new CEO and at least three other key figures during this transition, all of whom have experience and expertise in regulatory matters. That’s a great sign that Citizens Bank is willing to modify past practices to eliminate any potential concerns as to the bank’s health and reliability.
Edmond, as a community, is rich in banking establishments in both the family owned and corporate categories. There are more than 50 branches in Edmond alone and that’s a testament to the wealth of the community. Despite bank failures nationwide throughout the 2008 recession, none have actually failed in Edmond and we hope to see that trend continue.
While it’s uncomfortable to see this longtime community partner weather this storm, so far, the bank seems to be doing so with grace and a firm eye toward exiting this period as a stronger financial institution.
Its customers and the many nonprofits and charitable causes supported by the bank are in need of reassurance and strong stewardship. We believe that if the bank continues its current course of reform, it will meet those expectations.
Our View
Bank remains steady
- Our View
-
-
OUR VIEW: Feb. 14 vote about ideas
If you read any of the letters to the editor in the past two weeks regarding Tuesday’s District 2 Edmond school board race, then you already know that this election is not about the individual candidates so much as it’s about what type of school board do Edmond residents really want governing their school district?
-
OUR VIEW: Bright spots highlight 2011
Last year was mostly marked with grim economic news and continued worries for the future by most individuals and businesses. However, there were several bright spots that highlighted 2011 and they are good examples why Edmond continues to weather the nation’s economic storms better than most.
-
City still needs a business navigator
At the outset of her first term in office, then-Mayor Patrice Douglas appointed a task force dedicated to helping the City of Edmond better understand the needs of small businesses in our city. This task force met for several months and released a number of recommendations for how the city could better serve this huge sector of its economy.
-
OUR VIEW: It’s time to bring ME’s office to Edmond
The exhumation of Dwite Morgan’s body earlier this month by state and local authorities is a travesty and symbolizes what has been wrong with the Oklahoma Medical Examiner’s office.
-
OUR VIEW: HOPE needs your help
Stories like the one shared today by Oneka Parker on page A1 are both troubling and uplifting at the same time. It’s a stark realization that so many Edmond residents find themselves in crisis and in need of basic, everyday supplies. But it’s a blessing to know that someplace like the nonprofit HOPE Center exists to help residents like Parker.
-
Our View: Sustainment center good news for Tinker
The Air Logistics Center at Tinker Air Force Base will now be a command site for a new Air Force sustainment and logistics center. Other changes include adding a three-star general that oversees operations at Tinker and two other Air Force bases.
-
Our View: DHS needs an overhaul
A recent conviction of an Edmond foster mother has added fuel to the angry fire of scorn heaped at Oklahoma’s child welfare system. The system has been rocked by multiple recent failures ending in the loss of very young, innocent lives entrusted to either the state’s care or supervision.
In the case of Amy L. Holder, she was convicted of felony child abuse and ordered to pay a $5,000 fine plus a $10,000 assessment to the victim’s compensation fund with no jail time in the death of 2-year-old Naomi Whitecrow. Family members of the victim seethed with anger at how the system failed their young relative. -
Peters exemplifies service
This Friday is special for more than just a national commemoration of Veterans Day. It also will mark the induction of Edmond resident Oren Lee Peters and eight other military veterans into the Oklahoma Military Hall of Fame. The annual banquet will take place at 6:30 p.m. at Oklahoma Christian University. The ceremony also will posthumously honor 14 Comanche code talkers who made pivotal contributions to encoding communications during World War II.
-
OUR VIEW: Brain gain plan needs to start earlier
Gov. Mary Fallin came to the University of Central Oklahoma campus along with State Superintendent Janet Barresi in September and touted her new “brain gain” initiative. The goal of the new program is to increase the 30,500 college degrees conferred annually now by 67 percent to 50,900 degrees annually by the year 2023.
-
Our View: Time to look at what’s next
With voter confidence strongly behind city leaders, the Public Safety Center project can now move to the planning stage.
- More Our View Headlines
-
OUR VIEW: Feb. 14 vote about ideas
