Copyright ©2012 The Associated Press. Produced by NewsOK.com All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
uot;We are encouraged that the state economic factors for our principal markets in Oklahoma, Texas, and Kansas continue to outperform most of the nation.” In Oklahoma, deposits have grown faster than in other parts of the country as investors look for cash havens while evaluating riskier prospects during the economic recovery. Oklahoma bank deposits grew 2.4 percent in the past year. But loan demand continues to lag, said Steven Nell, chief financial officer of BOK Financial. "We're still seeing a drop-off in our loan balances,” Nell said. "If you were to see a pickup in loan balances that would probably be a better indicator of economic improvement.” While many individuals and businesses may be in a better financial position these days, uncertainty likely is limiting spending and borrowing, Nell said. "There's still a lot of uncertainty out there — uncertainty about the political direction,” he said. "Uncertainty with all of these financial regulations out there. Uncertainty about the unemployment in the country and how long it will stay at elevated levels. Another example would be the taxes, uncertainty about what's going to happen in the future. Still uncertainty around health care costs in the future,” Nell said. Rainbolt remains cautiously optimistic. "In the long term, I'm very positive about Oklahoma's economy — no doubt,” Rainbolt said. "It may be more than a short amount of time before that manifests itself. I don't think it's going to be quick turnaround.”
State banking sector steady through slow economic recovery
Oklahoma's publicly traded banking firms bank of stability during troubled economic times.
News Photo Galleriesview all
- 36375Oklahoma weather: Crews work to clear storm damage in Oklahoma City as the state braces for severe weather Sunday.
- 32316Oklahoma Severe Storm Updates
- 24292Oklahoma tornado levels homes in trailer park
- 8069Wild hogs continue to be a growing menace across Oklahoma
- 6178OKC Thunder GM Sam Presti won't amnesty Kendrick Perkins
- 3621College football: Coaches, athletes weigh in on NCAA's suspended recruiting proposals
- 3359Oklahoma City Thunder: What could Serge Ibaka learn from Hakeem Olajuwon?