Oklahoma Venture forum hosting Power Lunch
OKLAHOMA CITY — Oklahoma Venture Forum will host Kitt Letcher, president and CEO of Better Business Bureau of Central Oklahoma Inc., at the November OVF Power Lunch. The lunch is 11:45 a.m. to 1 p.m. Nov. 13 at the University of Oklahoma PHF Conference Center, 655 Research Parkway, Suite 100.
The Oklahoma Venture Forum is a nonprofit organization formed in 1987 to encourage economic development in Oklahoma.
The BBB offers a free resource that allows consumers to look up businesses and know both positive and negative reviews are actually vetted by their organized. In 2020, Letcher and her team will launch a peer program and an ambassador program.
The Oklahoma Venture Forum also will welcome Rob Reynolds, of TEL Library, as the pitch presenter. TEL Library innovates content management and publishing with a goal of making high-quality education affordable and easily accessible for everyone, everywhere.
AAON Inc. to host conference call
TULSA — AAON Inc. will host a conference call reviewing its third-quarter financial results at 3:15 p.m. Thursday. A question and answer session will follow a brief presentation by management. The entire call should last about 45 minutes.
To call, participants in the U.S. can call 888-241-0551 toll free and use the pass code 8175235. A rebroadcast of the call will be available through Nov. 6 by calling 855-859-2056, using the pass code.
BOK Financial reports record earning
TULSA — BOK Financial reported net earnings applicable to common shareholders for the third quarter of $142.2 million, or $2 per diluted common share.
Net income was $142.2 million or $2 per diluted share for the third quarter and $137.6 million or $1.93 per diluted share for the second quarter.
Net interest revenue totaled $279.1 million, a decrease of $6.3 million. Net interest margin was 3.01% compared to 3.3% in the second quarter. Falling interest rates compressed the net interest margin by nine basis points.
Fees and commissions revenue totaled $186.1 million, an increase of $10 million. Falling interest rates led to growth in brokerage and trading revenue and mortgage banking revenue.
Operating expense increased $2.2 million to $279.3 million. Personnel expense increased $2.2 million while non-personnel expense was consistent with the second quarter of 2019.
A $12.0 million provision for credit losses was recorded in the third quarter. The combined allowance for credit losses totaled $206 million or 0.92% of outstanding loans compared to $204 million or 0.92% in the previous quarter.
Average loans increased $409 million to $22.4 billion. Period-end loans increased $30 million to $22.3 billion. Average deposits increased $538 million to $25.7 billion. Period-end deposits increased $862 million.
Income tax expense decreased $5.2 million during the third quarter primarily due to completion of 2018 tax filings and tax credit projects.
SemGroup announces earnings release
TULSA — SemGroup Corp. announced plans to release third quarter results after the market closes Nov. 7. A presentation of the results will be posted on SemGroup’s Investor Relations website, semgroup.com.
SemGroup moves energy across North America through a network of pipelines, processing plants, refinery-connected storage facilities and deep-water marine terminals with import and export capabilities. SemGroup serves as a versatile connection between upstream oil and gas producers and downstream refiners and end users.
Cytovance Biologics to participate in RAFT scientific discussion
OKLAHOMA CITY — Cytovance Biologics will participate in the upcoming Recent Advances in Fermentation Technology (#RAFT) Conference Tuesday through Friday at the Hyatt Coconut Point, Bonita Springs, Florida.
RAFT’s theme, sponsored by the Society for Industrial Microbiology and Biotechnology is “Driving Innovation and Stability from R&D to Commercialization and Beyond.”
Dr. Frank Agbogbo, Ph.D, Cyotvance’s director of microbial bioprocess will co-lead a scientific discussion on “Bench to the manufacturing suite: Scale-up and Tech transfer.” The session will give scientists and engineers a chance to share their research, experiences and insights into delivering a process to the marketplace and sustaining that process after commercialization.
— Submitted Content