Small business lending rises
Financial institutions in Oklahoma that receive capital from the federally funded Small Business Lending Fund have increased their small-business lending by more than $407 over their baselines, according to a U.S. Department of Treasury report. Small Business Lending Fund participants have increased their lending to small businesses for six consecutive quarters, according to a report released Tuesday. Nationally, Small Business Lending Fund participants have boosted lending by $7.4 billion overall, and $740 million over the previous quarter. The SBLF was established by the Small Business Jobs Act that President Barack Obama signed into law in 2010. The program encourages lending to small businesses by providing capital to community banks and community development loan funds. The Treasury has invested more than $4 billion into the fund.
Forbes ranks BOK Financial No. 22
Bank of Oklahoma's parent company, BOK Financial, was recently ranked No. 22 on Forbes' annual list of America's Best Banks, jumping from the No. 35 spot the previous year. The rankings are based on return on average equity, net interest margin, percentage of nonperforming loans and nonperforming assets, reserves as a percentage of nonperforming loans, Tier 1 and risk-based capital ratios and leverage ratio. BOK was ranked against 100 of the nation's largest publicly traded banks and thrifts.
Deadline nears to protect land
Applications are being accepted throughout the year for the Farm and Ranch Lands Protection Program, but those who wish to be considered for the first round of funding in 2013 should apply by Feb. 15. The program provides funds to help purchase development rights and keep productive farmland in agricultural use. Eligible land includes privately owned farm and ranch land that either contains prime, unique, statewide or locally important farmland, historical or archeological resources or furthers a state or local policy. Landowners also must meet adjusted gross income limits outlined in the 2008 Farm Bill. For more information, visit www.ok.nrcs.usda.gov/programs/frpp/index.html or call Joy Martin at 742-1234.