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10A « July 2, 2019 « THE JOURNAL RECORD « journalrecord.

com FINANCE

F I N A N C E B R I E F S Manufacturing
Smith graduates
from OBA academy
TFCU opens new
branch office growth slows
BROKEN ARROW – Jessica
Smith, a commercial banking
officer at the First National
OKLAHOMA CITY – Tinker Fed-
eral Credit Union has opened a
new branch office at 13300 N.
in June for 3rd
Bank in Broken Arrow, gradu-
ated from the Oklahoma Bank-
ers Association’s 2018-19
Rockwell Ave.
Tasha Windisch is branch
manager.
straight month
Emerging Leaders Academy. The branch has four drive-
Smith was selected from a thru teller lanes and a drive-up BY CHRISTOPHER RUGABER
pool of applicants to partici- ATM. The lobby has access for Associated Press
pate in the academy. Each ses- walk-in service, a children’s
sion centered on developing center with educational books WASHINGTON – U.S. factory activ-
leadership and management and games, and a Personal Commerce Bank’s offices in Atrium Towers at 3503 NW 63rd ity grew at a slower pace in June for
skills. –Staff report Finance Cafe. The branch also St. in Oklahoma City. COURTESY COMMERCE BANK the third straight month as measures
offers safe deposit boxes for of new orders and inventories fell.

Commerce Bank
members. –Staff report The Institute for Supply Manage-
ment, an association of purchasing
Four state firms managers, said Monday that its man-
among the top
moves OKC office
ufacturing index slipped to 51.7 last
investment advisers Mann joins Arledge month from 52.1 in May. Any reading
OKLAHOMA CITY – Four Okla- & Associates above 50 signals an expansion.
homa investment advisory EDMOND – Savannah Mann While the sector is still growing,
OKLAHOMA CITY – Steady headquarters. Additional
companies were among the has joined Arledge & Associ- the report pointed to an ongoing
growth in the Oklahoma services in Oklahoma City
2019 Financial Times 300 ates as an audit specialist. weakening in U.S. manufacturing.
market has resulted in Com- include commercial real
Top Registered Investment Mann, a Trade fights with China, Europe and
merce Bank’s move to a new estate financing, merchant
Advisers. graduate of Mexico, as well as an increase in the
office in Atrium Towers at services, health care banking,
Align Wealth Management, Southwest- dollar’s value, have cut into U.S. ex-
3503 NW 63rd St. commercial payments and
Excencial Wealth Advisors and ern Okla- ports and increased uncertainty for
“Over the past five years equipment financing.
Tom Johnson Investment Man- homa State American manufacturers.
that we have been in Okla- The new location has a
agement, all of Oklahoma City, University, A measure of new orders dropped
homa City, we have doubled retail banking center offering
and Cadent Capital Advisors, was an in- to 50, which means they were un-
our number of employees personal banking services,
Tulsa, were selected to appear tern with changed. Manufacturers are also hold-
and established a solid cus- which include mortgage loan
in the sixth edition of the FT the firm. ing fewer supplies, a sign they are wor-
Savannah tomer base that continues originator. The new location
300 list. Mann Edmond- ried that demand could slow further.
to grow,” said Shannon has 7,400 square feet in the
The FT 300 evaluates based “It’s concerning,” said Tim Fiore,
O’Doherty, CEO of Com- Atrium Towers.
firms based on six factors Arledge & Associates is a pro- chair of the ISM’s manufacturing
merce Bank in Oklahoma. Commerce Bank is a sub-
including assets under man- vider of tax planning, auditing, survey committee. “This is going
Commerce Bank in sidiary of Kansas City-based
agement, asset growth and consulting, accounting advisory down faster than I would like.”
Oklahoma City serves as Commerce Bancshares Inc.
industry certifications. and client accounting services. The ISM surveys purchasing man-
the bank’s energy banking –Staff report
–Staff report –Staff report agers at manufacturing firms, nearly
half of whom said that trade policy
was negatively affecting their busi-

International forum: Don’t


nesses in some way.
“Tariffs are causing an increase in
the cost of goods, meaning U.S. con-

expect cheap money to do it all


sumers are paying more for prod-
ucts,” a chemical manufacturer told
the ISM.
A measure of new export orders
BY DAVID McHUGH “Monetary policy can no longer be for a trade deal. Despite some apparent was just 50.5, suggesting overseas de-
Associated Press the main engine of economic growth, progress at a meeting between Trump mand is barely growing. Overall order
and other policy drivers need to kick in and Chinese President Xi Jinping at the backlogs are also shrinking, and cus-
FRANKFURT, Germany – Stocks have to ensure the global economy achieves summit of leaders from the Group of 20 tomers’ inventories, while still declin-
risen on expectation of more help from sustainable momentum,” the BIS said in countries in Osaka, Japan, there’s uncer- ing, are doing so more slowly. When
central banks, but an international fi- its annual economic report. tainty about the outcome, and whether manufacturers’ customers hold larger
nancial forum warned Sunday that the BIS General Manager Agustin Cars­ more tariffs might be coming. stockpiles, that means they order
global recovery can’t just rely on sup- tens warned that while stimulus can “The trade tensions bring up ques- fewer goods from factories.
port from the likes of the U.S. Federal help in the short run, it can have side tions about the viability of existing sup- There were some positive signs:
Reserve and the European Central Bank effects further out such as over-inflating ply chain structures and the very future Production and employment in-
to get past its current shaky stretch. asset prices such as stocks and bonds, of the global trading system,” Carstens creased at a faster pace in June.
The admonition from the Bank for and feeding less productive zombie said in a speech to the BIS annual meet- President Donald Trump has post-
International Settlements comes as the firms that wouldn’t survive without ing Sunday. “It bears repeating: Trade poned two of his largest, most recent
Fed and the ECB are signaling that more cheap borrowing. wars have no winners, only losers. tariff threats, but that hasn’t fully re-
stimulus could be on the way. That mes- Policymakers, he said, need “to be Another risk he identified is high lev- moved the threat to manufacturers.
sage from Fed chair Jay Powell and ECB mindful of all those trade-offs.” els of corporate debt. He agreed over the weekend to hold
head Mario Draghi has helped send The BIS, a forum for central banks Carstens pointing to “clear signs of more trade talks with China, rather
stock higher in Europe and the S&P 500 based in Basel, Switzerland, said the overheating in the corporate sector in than impose import taxes on $300 bil-
in the U.S. to a record high. service industries and falling unem- a number of advanced countries.” He lion of Chinese imports. He also de-
The BIS is cautioning that govern- ployment can shore up the ailing global called attention to the $3 trillion market layed an across-the-board 25% duty
ments need to bring other policies into recovery in coming months. Rising in so-called leveraged loans – those that on all imports from Mexico, which he
the game – and that there are risks in re- wages and less unemployment are off- are made to already indebted companies threatened to impose in May.
lying too much on central bank stimulus setting a slowdown in manufacturing and then often sliced up and sold on to Yet those threats still loom and are
such as cuts in interest rates and bond and global trade. investors. forcing many manufacturers to re-
purchases that lower market borrowing Still, it said significant risks remain, “Credit standards have been declin- think their supply chains.
costs. Those other policies include gov- notably related to trade tensions be- ing as investors have searched for yield,” “The situation is crazy, driving a
ernment spending where possible on tween the U.S. and China. U.S. President he said. “Should the leveraged loans huge amount of work (and) costs, as
growth-friendly infrastructure as well Donald Trump is seeking to reduce Chi- sector deteriorate, the economic impact well as potential supply disruptions,”
as pro-growth reforms such as slashing na’s trade surplus and has imposed new could be amplified through the banking a computer and electronics company
red tape for business. tariffs, or import taxes, while negotiating system.” told ISM.

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