2023 School Supply Drive

To create a better classroom experience for students and teachers across the region, Mabrey Bank is hosting its third annual School Supply Drive from Monday, July 10, through Friday, July 21 at each of its full-service locations. Supplies received at each location will benefit a specific organization or school district located within that community to maximize our local impact.

Donations can be dropped off during normal branch hours through a school supply drop box in the lobby at each Mabrey branch. While any and all types of school supplies are appreciated and accepted, customers can check in with their local branch to see if any specific supplies are needed, as different schools and communities might have different needs.

Last year, Mabrey was able to donate around 4,000 school supplies through the drive thanks to generous donations from customers and team members. See which organization or school that each Mabrey Bank location will be benefitting through our 2023 School Supply Drive.

LOCATION – ORGANIZATION

Bixby (Main & North) – Bixby Outreach Center
Glenpool – Glenpool Public Schools
Haskell – Haskell Public Schools
Morris – Morris Public Schools
Muskogee – Irving Elementary
Oklahoma City- Positive Tomorrows
Okmulgee (Both Locations) – Okmulgee Public Schools
Tulsa (Broken Arrow, Jenks, Midtown & Yale) – The Pencil Box
Weleetka – Weleetka Public Schools
Wetumka – Wetumka Public Schools

Mabrey Bank digital banking recently got a big upgrade that helps our customers manage all their Mabrey accounts alongside their external accounts directly from the Mabrey banking portal. Whether on your desktop or through your Mabrey Bank app on your mobile device, Mabrey customers can now link and view their financial accounts including mortgages, credit cards and other bank accounts inside of their Mabrey online banking with Money Manager.

To give us the full rundown of the information, how to’s and benefits of Money Manager, we caught up with Director of Banking Operations, VP, Erin Melton, who has been with Mabrey Bank for nearly 18 years.

1) What is Money Manager?

Money Manager is an organizational tool inside of Mabrey’s suite of digital banking products that allows customers an easy and efficient way to control their budgeting, spending and saving to hit their financial goals. Using Money Manager makes managing your finances smarter by tracking and categorizing every purchase, fitting those into a budget you have set and showing the progress you make towards saving.

Money Manager comes at no cost to all Mabrey customers and is automatically available through your digital banking portal on your desktop or on your Mabrey mobile app. Finding Money Manager is easy. Select “Money Manager” in the main menu dropdown from the top left corner of the Mabrey app to get started. Or, Money Manager can be found by selecting an account inside of digital banking on a desktop. Money Manager will be one of the blue icons to the right of your account transactions.

For more information on Money Manager, click here.

2) How can I better control my spending in Money Manager?

Money Manager automatically tags and tracks each of your transactions and will label them given their specific category, such as transportation, groceries, utilities and many more. You decide which categories you’d like Money Manager to track for you, and it will do the rest. Once you have built up a history of transactions, it can break down your spending weekly, monthly or even over a six-month time period.

You can set a budget for a category, and Money Manager will alert you if you near the spending limit you have set for that category in a given day, week or month. This allows you to make informed spending choices and know how a transaction will affect your budget. Setting a debt reduction or savings goal in Money Manager can help you visualize your progress daily.

3) How do I link an external account or card?

A recent update to Money Manager now allows you to link external (non-Mabrey Bank) mortgages, credit cards and bank accounts inside your Mabrey Bank portal, free of charge. Now you can view all your accounts conveniently in one location. Once you link your accounts, your Mabrey Bank accounts will appear BLUE while your external accounts will appear GRAY in the account dashboard.

STEPS TO LINK EXTERNAL ACCOUNTS

• Open your Mabrey Bank app or Login to your online banking on your desktop.
• Click the three dots in the upper right corner, next to Accounts, and select “Link an account.” If you do not see this option, please ensure you have downloaded the latest version of the Mabrey Bank app from the Apple store or Google Play store.
• Follow the prompts to review and re-link your existing accounts or link new accounts.
• Close your Mabrey Bank app and re-open it to see the newly linked accounts.

A user can also link an account from the menu bar while inside of Money Manager by selecting “Link Account.”

4) What is the benefit to linking my non-Mabrey Bank accounts and cards in Money Manager?

In addition to having more visibility to all of your accounts in one location, Money Manager will incorporate your external accounts into its budgeting, spending and saving tools allowing you an all-encompassing look at your finances. Imagine seeing your mortgage, car loan and credit card balances right next to your checking and savings account balances in one single app. That’s how Mabrey Bank is making our customers’ lives easier with Money Manager.

Linking these external accounts will also add a layer of security. By setting up alerts for large transactions or transactions from specific retailers, you now have more control than ever before to combat fraud or excessive spending.

5) Are there any limitations to linking my non-Mabrey accounts?

While you get added visibility and the rest of the money management features inside of Money Manager, a customer is not able to move money between Mabrey and external accounts, or visa-versa, with Money Manager. Account transfers can be set up, however, in the “Transfers” tab inside of Mabrey Bank’s digital banking portal.

Users will also not be able to transact directly with any linked external accounts inside of Mabrey Bank’s digital banking portal.

Summer is the season of sun, activities, travel and family fun. That could mean needing a loan for a new car, boat or RV to take that special vacation you have always wanted to go on. To obtain a loan, you need to avoid the dings and dents to your credit which can lower your score and making acceptance that much tougher.

We gathered some intel and included some tips from our Consumer Loans team to provide you with a few ways that you can work with us to keep your credit score acceptable and application process free of debris – especially if you want to take advantage of Mabrey’s Summer Loan Special on a new car, motorcycle, boat or RV.

Learn more: 2023 Summer Loan Special

1) Stay Responsible with Payments

Ultimately, the easiest thing to do to maintain and grow your credit score is paying the agreed upon amount of your loans each month for the duration of the loan. In this case, slow and steady can indeed win the race. Whether it’s your mortgage, car note or a credit card, showing past and present responsibility, consistency and dependability is what banks and credit bureaus are looking for when you apply for a loan.

If you have shown a documented history of responsibility with your money and the contracts you have signed to pay your loans back, banks will be much more willing to let you borrow more, if your monthly income can sustain payments. Paying off your credit card balances regularly, or at the least keeping your balances to less than 30% of your available credit can leave a paper trail of responsibility on paying your debts.

Helpful tip: Try setting up your loans on an auto-draft payment. The quickest way for the payment to be applied is for it to come from an account within the same institution, but there should be an option to set up auto-draft payments from another bank as well. If you prefer to make your payments manually, set calendar appointments to make sure you don’t miss them. Many times, lenders can select a payment date upon request so that it lines up with or is a day after you get paid.

2) Be Proactive with Communication

Being late on a payment, or missing one entirely, is a recipe for your credit score to fall. If you think you might not be able to make a payment on time, contact your lender in advance. Not only will this show a strong sense of accountability, but lenders will often work with you to avoid a dent in your credit score.

While communication with your lender is important, communicating with credit bureaus is another way to show you are proactive. You are allowed one free credit report every 12 months from each of the three major bureaus (Equifax, Experian and TransUnion). Requesting and accessing your reports will show you every peak and valley your credit score experienced throughout the year. Knowing this information can keep you from repeating mistakes that drop your score.

Helpful tip: Having past due payments can greatly affect getting approved for a loan in the future. Once you get behind, it can be hard to get caught back up again. Lenders are not just here to collect payments, we are here to help and guide you to meet your financial needs. Sometimes we can move a payment due date and sometimes we may need to defer a payment for you. Keeping us in the loop is best for both you and the bank.

Since you can order copies of your credit report from three bureaus, why not use that to your advantage and request those quarterly? Order from one in April, one in August and one in December. Just spread them out throughout the year so you constantly know where you stand, and you aren’t completely in the dark any time you apply for credit.

3) Get Ahead on your Balances

Staying ahead on your loans is easier said than done, but a little can go a long way towards boosting your credit score. Making a slightly larger payment on your due date, or submitting your monthly payment early are two good ways to raise your score. Be careful however, paying off a loan too quickly or with too large of payments can actually do more harm than good to your score. For more information on this, check out some basic Consumer Loan tips courtesy of our experts at Mabrey.

Helpful tip: Is your monthly payment $250? Pay $275. Is your payment due on the 15^th of the month? Try paying on the 1^st. Again, sometimes you can select a payment due date for your loan, so maybe select it later than you plan to pay it. These little adjustments can give the slight boost you need to your score that could be the difference between you qualifying for a special rate loan or not.

With a heightened level of interest surrounding banks and deposit insurance, we caught up with Laura Zigler, Director of Treasury Services for Mabrey Bank, to get a primer on what exactly the FDIC does and why it’s important to customers that their bank is a member.

Laura has been the Director of Mabrey’s Treasury Department since 2019 and has been with the bank a total of 16 years. She is well-versed in providing Mabrey’s customers and businesses with the best products to ensure their deposits are safe and well-placed.

1) What is the Federal Deposit Insurance Corporation (FDIC), and how does it protect my money at the bank?

Created during the Great Depression in the 1930s, the Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government. At the time of its creation, the American financial climate was volatile as panicked customers would put an otherwise healthy bank at risk of failing by taking all of their deposits out of the bank at once.

The FDIC was established to help curtail this behavior, promoting confidence in the U.S. banking system by protecting depositors of insured banks across the nation against the loss of their deposits in the event an insured bank fails.

Mabrey Bank is a proud member of the FDIC.

2) What does the FDIC do when an insured bank fails, and how has it been historically successful?

If an FDIC insured bank fails, the FDIC pays depositors up to the insured limit. The FDIC acts immediately once there has been a bank failure ensuring depositors have access to their funds promptly. History has shown, the FDIC pays insurance within a few days after a bank closing, typically as soon as the next business day.

The depositor can expect a new account to be opened at another FDIC insured bank with a deposit made in an amount equal to the insured balance of their account at the failed bank. Or the FDIC may simply issue a check to each depositor for the insured balance of their account at the failed bank.

If the depositor has funds over the insured FDIC amount, they may still be able to recover funds. Once the bank has failed, the FDIC assumes the position of managing assets, debts and handling claims for deposits in excess of the insured limit. During this process the depositor may recover some portion of their uninsured funds from the proceeds from the sale of the failed banks assets. However, this can take several years by which the depositor would receive periodic payments on their remaining claim.

FDIC insurance is backed by the full faith and credit of the United States government and since they began operations in 1933, no depositor has lost a penny of FDIC-insured deposits.

3) How much does the FDIC insure per depositor?

FDIC coverage amounts will vary due to several factors based on depositor ownership categories. The standard insurance coverage amount is $250,000 per depositor, per insured bank, for each account ownership category.

Depositors may qualify for separate coverage for deposits held in different account ownership categories when all FDIC requirements are met. This means some depositors may qualify for additional coverage at the same FDIC-insured bank.

4) Are there any costs associated with FDIC coverage or restrictions on coverage?

You do not have to purchase deposit insurance. When you open a deposit account in any FDIC-insured bank, you are automatically covered up to $250,000.

It is important to note that there are some types or accounts such as stocks, bonds, municipal bonds, other securities, annuities, insurance products and safe deposit box contents that may not qualify for FDIC insurance.

Since not all deposits may be covered, we recommend if depositors have questions regarding coverage to visit with your banker or go directly to FDIC.gov to find additional deposit insurance information, determine if your Bank is FDIC insured, calculate your coverage by using the electronic deposit insurance estimator (EDIE), as well as find contact information for FDIC assistance. There are deposit insurance experts available at 1-877-ASK-FDIC seven days a week to help with your specific deposit situations.

5) How can I access coverage of my deposits at Mabrey if I exceed the FDIC’s $250,000 limit?

Thanks to Mabrey Bank’s membership in the IntraFi network, you can obtain additional FDIC insurance coverage by placing your funds in a Certificate of Deposit Account Registry Service (CDARS) or Insured Cash Sweep (ICS) account(s) conveniently while still banking at Mabrey.

When we place your funds through the CDARS or ICS service, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000. The funds are then placed in Certificate of Deposits (using CDARS), Demand Deposit Accounts or Money Market Deposit Accounts (using ICS), at multiple banks. As a result, you can access coverage from many institutions while working directly with just Mabrey Bank.

You will receive one monthly statement from our bank for each service in which you participate, and, as always, your confidential information is protected. For additional information on these programs please visit intrafi.com or contact Mabrey Bank at (888) 272-8866.

Our Know From a Pro series is back as we dive into consumer loans. Whether a loan is for a home, vehicle, or just for some extra cash on hand, you’ll need to apply and be approved. To get an inside look at the process of a loan and what you can do to increase your chance at being approved, we spoke to Leila Vickers, our Consumer Loan Officer, AVP, who regularly engages with our customers on loans.

Leila has been with Mabrey Bank since August of 2015, working her way up to the role she is in now. In 2021, Leila won an EXCEED Award for her above and beyond work serving Mabrey customers.

Let’s jump right in!

1) Receiving a consumer loan for a home, car or just a personal loan involves an application process for approval. What homework can applicants do before and during the application process that might make it easier to apply and be approved for a loan?

The key to being approved for a loan is all in the preparation, and you can never start too early. Preparing BEFORE you need a loan is the best practice, if possible. Having good banking relationships at your financial institution will help tremendously when you apply for a consumer loan.

For most loans you will need both good credit history and some cash for a down payment. The best thing for your credit history is making your payments ON TIME. If you don’t have credit yet, a type of loan you can start with to build credit without credit history would be a “cash secured loan,” which means using the money you have at your financial institution as collateral for your loan.

When you are ready to apply, here’s what we look for:

• Reliability/Relationship – If you already have a great banking history with your bankers and have proven to be reliable, we are more likely to consider your loan for approval.
• Steady and adequate income
• Steady residence and employment history
• Down payment (if applicable)
• Proof of income such as paystubs, W2s or tax returns

2) An important piece of the loan application process is proof of income. When reviewing an application, what sources of income are you looking for and how can applicants increase their chances of a loan being approved through proof of income?

When it comes to income, we want to not only see that you are making enough to be able to repay the loan you are requesting, but that your income is steady, just like the payments on your loan will need to be.

One great thing about Mabrey Bank is that we do have the ability to work with various income types that other banks or mortgage companies may not. The proof of income needed can vary based on the loan requested. One of the easiest ways for us to verify income is if you have a checking account with us where your direct deposit is credited to. Having that established banking relationship will help your ability to secure the loan.

3) The federal interest rate has been climbing over the last year, as banks base their own rates off that federal rate. How do those changes affect the rate attached to a consumer loan on both a daily basis and over the term of the loan?

The interest rate on your loan depends on when you apply and what your credit score is. Once your rate is determined, there should be a period of time, depending on the loan type, where that rate does not change – called a fixed rate. Most of our consumer loan products keep a fixed rate until you pay it in full. Exceptions to this are home equity lines of credit (HELOC) and adjustable-rate mortgages (ARM). The rates for these loans would be explained to you by a loan officer before you formally apply for that specific loan type.

Personal loans including car, boat, tractor, etc. should have a fixed rate which will be made known to you as soon as we pull your credit report, so there are no surprises. You should know your interest rate and monthly payment before you sign your loan documents, agreeing to those terms.

If you are wanting to buy a home, I would try to research the rate environment and economic predictions from trusted sources.

4) A borrower’s credit score not only impacts the possibility of a loan being approved and the rate of the loan but can also change throughout the course of the loan based on the timing and amount of payments made. How can a credit score go up or down over the course of a loan?

Loans are essentially an agreement between you as the consumer and the bank. By signing your loan documents, you are agreeing to pay exactly how those documents require you to pay. If your monthly payment is $200, due on the 15^th of every month, you must pay at least $200 on the 15^th of every month. If you follow that agreement, your credit score should improve over time.

The best way to increase your score is to do it subtly. Subtly increased payments early = subtly increased score. For the example above, paying $225 on the 1^st of every month can reflect positively on your credit score as early as 6 months into the loan. How much improvement your credit score shows depends on how bad it was to begin with. Consumers with more room for improvement may benefit more than those with already great credit history.

It is important to note that paying off a loan quite early with a large payment can actually hurt your credit score because at that point you are not technically paying as you agreed to in your loan documents.

The best credit histories will have three types of credit:

• A revolving line of credit (like a credit card)
• A shorter-term loan with steady payments (like a 3-5 year car loan)
• A longer-term loan (like a mortgage of 30 years)

You must make your payments ON TIME. Having all types of credit but not making your payments on time would be such a disservice to you and your future. Consider setting up loan payments on auto-draft to ensure timely payment.

5) Mabrey Bank prides itself on the relationships our bankers build with customers, often through generations. How does that mission and culture manifest itself when it comes to consumer loans? 

I think the fact that many of those applying for consumer loans are family members or friends of other customers speaks for itself. Around 80% of loan applicants are already customers or are referred from a current customer. We take care of our customers’ needs in many different ways and do our best to make things as easy as possible. They appreciate it so much that they are willing to refer those that are closest to them. Mabrey’s reputation of quality customer service and friendliness has spread through word of mouth, leading to more loans.

At the end of the day, we want our customers to be educated and well-informed about the application process and loan types and terms while setting and managing their expectations. I would say that 9 out of every 10 conversations I have with customers are educating them and running the numbers through various loan scenarios, so they are as comfortable as possible. More knowledge about a loan allows a customer to better help themselves and their families.

As Tax Day approaches on April 18, we asked our tax pros at Eide Bailly for some helpful items to keep in mind when filing your taxes this year. So, each Tuesday for the next five weeks will be “Tax Tuesday” where we will ask a different question to our tax pro.

The Tuesday schedule is below, so be sure to check back each Tuesday for a new question and answer.

QUESTION #1 (Tuesday, February 21):  Who can be claimed as a dependent on a tax return?

Eide Bailly Tax Pro: This can be a very complex answer at times, but in terms of whether or not one of your children can be claimed as a dependent for the year, the answer could be your son, daughter, stepchild, eligible foster child, brother, sister, half-brother, half-sister, stepbrother, stepsister, adopted child or an offspring of any of them.

The child must be under age 19 or, if a full-time student, under age 24. There’s no age limit if the child is permanently and totally disabled. The child must live with you for more than half the year, but several exceptions apply.

Also, the child may have a job, but they cannot provide more than half of their own support.  There are many other tests for individuals that are not within the above parameters that could still possibly qualify as a dependent on your tax return.

QUESTION #2 (Tuesday, February 28): Is there a Child Tax Credit on my 2022 Tax Return?

Eide Bailly Tax Pro: Yes. This credit is again available on an individual’s 2022 income tax return, with a maximum of up to $2,000 per child. If the child is under the age of 17 at the end of 2022 and is a dependent on your tax return and does not file a joint return with another person, that child could be eligible for the credit.

Further, the child you’re claiming must be your son, daughter, stepchild, foster child, brother, sister, half-brother, half-sister, stepbrother, stepsister or a descendant of any of those people (e.g., a grandchild, niece or nephew). There are other requirements to be met, including income limits ($400,000 for joint filers, $200,000 for others), that need to be taken into account.

QUESTION #3 (Tuesday, March 7): Do I qualify for any tax benefits for paying my child’s college tuition?

Eide Bailly Tax Pro: If you have a child in college or graduate school, you may not qualify for one of these credits if your income is too high (phaseout range of $80,000–$90,000 for single filers; $160,000–$180,000 for joint filers), but the child might qualify:

American Opportunity credit. This tax break covers 100% of the first $2,000 of tuition and related expenses and 25% of the next $2,000 of expenses. The maximum credit, per student, is $2,500 per year for the first four years of postsecondary education.

Lifetime Learning credit. This tax break — up to $2,000 per tax return — is available for postsecondary education expenses beyond the first four years.

Education tax credits are taken predominately by parents, but students who pay their own college expenses, file their own tax returns and are not claimed as dependents on anyone else’s return could also be eligible to claim the credit.

QUESTION #4 (Tuesday, March 14): Are charitable donations still deductible on my tax return?

With the increased standard deduction in effect for 2022 ($25,900 for joint filers, $12,950 for single filers), many taxpayers no longer have a total sum of itemized deductions that exceed this amount. Charitable donations are itemized deductions, so depending on a taxpayer’s circumstance, they may take the higher standard deduction rather than itemizing deductions (which include a maximum deduction of $10,000 of state & local taxes, mortgage interest, charitable donations, a limited amount of medical expenses, and other expenses).

If you take the standard deduction, you technically are not realizing a tax benefit for charitable donations. There was a provision in prior tax years that allowed a charitable donation of up to $600, above the line of itemized deductions, but that provision has expired.

QUESTION #5 (Tuesday, March 21):  Can I deduct my medical expenses?

Similar to charitable donations discussed above, medical expenses are itemized deductions, so the deductibility hinges on whether you take the standard deduction or itemize deductions, whichever amount provides the highest deduction. When determining which ones could qualify as an itemized deduction component, only qualified medical expenses that exceed 7.5% of your adjusting gross income can be included in itemized deductions.

The IRS allows you to deduct unreimbursed payments for preventative care (physical exams), treatment, surgeries, dental and vision care, visits to psychologists and psychiatrists, prescription medications, items such as glasses, contacts, false teeth and hearing aids, and expenses that you pay to travel for qualified medical care. If you pay for your medical expenses using money from a flexible spending account or health savings account, those expenses aren’t deductible because the money in those accounts is already tax-advantaged.

January is Financial Wellness Month, and it’s a great time to set some goals for 2023 to get more financially healthy. We caught up with Debbie Bickle, one of our fantastic Private Bank Officers, to learn how to avoid financial illness and steps that can be taken to correct it.

As a CPA with an extensive background in budgeting, forecasting and financial reporting in the energy sector, Debbie made the move to the other side of banking in 2019 by joining the Mabrey Private Bank group. She now advises and serves Mabrey customers daily to provide them with the tools and resources needed to achieve their goals.

1) Thanks, Debbie for taking the time to chat about financial wellness. Many probably think of financial wellness as having a lot of money, but true health goes deeper than a dollar amount in a bank account. How do you define financial wellness?

My definition of financial wellness is less about how much you make and more about how you manage your day-to-day cash flow and how much you have in your emergency, rainy day and retirement funds. In order to truly be financially healthy, you need to be able to pay your bills and living expenses on time and have ample money set aside for both the unexpected and the future. There are many theories of the best way to manage your money, but in a nutshell, earn a wage or salary, save a portion of your earnings, and invest a portion of your earnings.

2) What reasons do you see that lead to a person or business not being financially well?

In most cases, the reasons a person or business become financially unstable are similar. They fail to make and, more importantly, follow a budget and to have a source of liquidity (or savings) to use if something unexpected happens.

A good budget takes into account the potential ups and downs of income and expenses and builds in some “cushion.”  I recommend looking at revenue streams and costs of living or operating expenses for potential changes that can negatively impact your net cash flow and then budget conservatively. Without a budget, and the disciple to work within that budget, cash flow can get tight. Once you get behind on bills, the costs escalate with interest, penalties, etc. – another reason having adequate money in savings is so important.

3) What is a simple first step or two that any person or business, no matter their income/revenue, can take towards becoming more financially healthy?

A first easy step for an individual or business to get financially healthy is to prepare a budget. Identify sources of income; then look at all potential expenses – consider which are necessary and which can be eliminated if cash flow is tight.

Another suggestion is to have a portion of your net pay go directly to a savings account. If your employer offers a 401(k), take advantage of it. The amount you put directly into a 401(k) plan is taken out pre-tax which reduces the amount of taxes taken from your check. Also, in many cases, your employers will match a portion of your 401k contribution – in essence giving you free retirement money. People tend to spend what they have, so if you allocate to savings first, you will learn to live with what’s left.

4) The Holidays and New Year are often a time when people receive bonuses and/or pay raises. How can those be utilized smartly to increase financial wellness?

For those that receive a bonus check, it would be smart to pay off or paydown any high interest debt.  However, if you don’t have an emergency fund, it might make sense to use a portion of your bonus to pay down debt and the rest of the bonus to build your savings.

If you do receive a pay raise, similar to my answer above, I recommend determining the amount of the increase to your net pay and use that “increase” to pay down any high interest debt. Once paid off, start putting that extra money directly in savings.

Once you have eliminated or settled high interest debt and have solid savings funds, consider investing your bonus or raise.

5) How can products or services from Mabrey Bank assist in obtaining financial wellness?

Mabrey offers many interest earning products including money market accounts (MMA’s), savings accounts, certificates of deposits (CD’s).

Utilizing online banking, you can setup automatic transfers to your savings account or BillPay to send money to an investment advisor. Additionally, Mabrey offers a new tool called Money Manager, that can be found through our online banking system. This tool can help you budget and analyze your spending to help get a better understanding of where your money is going.

Don’t hesitate to reach out to your local Mabrey Officer or Relationship Banker if you have any questions about how we can help you achieve your goals.

Since 1985, Mabrey Bank has contributed to a matching challenge with the Bixby Educational Endowment Foundation (BEEF) in partnership with Bixby Public Schools. Started by former bank president George L. Brown and the then-named Citizens Security Bank, the donation has matched through BEEF’s annual donation drive – the Century Club. Mabrey’s challenge has always been met, allowing the bank to support its hometown teachers and students for decades through the Foundation, which awards Teacher Grants and Scholarships for Bixby’s graduating seniors.

When it started 38 years ago, that matching contribution was $10,000 and eventually grew to $15,000, where it has remained for the better part of 20 years. On Thursday night, Mabrey Bank was recognized as a “Spartner” of Bixby Public Schools and was excited in return to surprise the Bixby Educational Endowment Foundation at the Bixby School Board meeting by increasing its gift to $20,000.

Representatives from Mabrey Bank, including BEEF Board members Carlisle Mabrey IV, Pam Phillips and Erin Melton, were on hand to present the donation to Bixby Public Schools Superintendent Rob Miller.

“For 38 years, Mabrey Bank has worked hand-in-hand with the Bixby Educational Endowment Fund to support and partner with the teachers and students at Bixby Public Schools,” said Carlisle Mabrey III, Executive Chairman for Mabrey Bank. “Bixby has been the home of Mabrey Bank for almost a century and throughout the decades, we have been proud to invest back into the next generation of leaders, right in our own backyard. We love seeing how our support impacts our teachers and students and are excited to increase our contribution towards this matching challenge.”

Last year, over $209,000 was awarded to teachers and graduating students. Teacher grants for this school year included a wide range of classroom materials from musical instruments, praying mantis incubators, a weaving loom, block printing press, wheelchair swing, gym equipment, classroom novel sets, a wood workbench, and aqua sprout gardens to Lego, math games, and engineering centers. Grants were awarded across all of Bixby’s campuses from PreK to High School.

With seasonal spending in full force leading up to the Holidays, now is the perfect time to talk about Overdraft Fees. We know accidents happen and rarely does anyone mean to overdraft their account. To help you make sure you are doing everything you can to avoid paying any unnecessary fees, we sat down with our Sr. Operations & Trust Officer, SVP, Kim Ganus to learn more about Overdraft Fees.

Kim has been at Mabrey Bank for 31 years working in both Treasury Services and Operations and is one of our many financial experts at the bank. Let’s see what she has to say on Overdraft Fees.

1) What are Overdraft Fees, and why do banks put them in place?  

Overdraft fees occur when you don’t have enough money in your account to cover your transaction(s). In general, for one-time debit card transactions at ATMs or merchants, consumers must opt-in or agree up front that the bank can charge an overdraft fee for any debit card transaction that overdraws the account.

If you don’t opt-in, you can’t be charged a fee. However, banks may then refuse your transaction if it will overdraw your account. While all banks’ overdraft fees are different, ours at Mabrey Bank is $32.95 each time an item is presented for payment. Those fees can add up quickly, which is why it is very important to stay on top of your accounts.

2) What are NSF (Non-Sufficient Funds) Fees? 

While you have a choice to opt-in or opt-out of overdraft coverage for non-recurring debit card transactions, this does not apply to Checks or ACH (Automated Clearing House) transactions such as a direct payment or bill pay services. If you write a check or have an ACH transaction for more money than you have in your account, a bank may not pay the item, but you will still be charged an Non-Sufficient Funds Fee of $32.95.

Sometimes the merchant or business collecting the payment may send the purchase through more than one time to the bank. Then, the bank could charge an Overdraft or NSF Paid and Return Item Fee each time the item is presented for payment. However, both would never be charged for the same payment.

While the mechanics between Overdraft and NSF Fees can be a little confusing, the most important thing to remember is that you will be charged a fee if your bank allows you to overdraft your accounts.

3) What are the most common reasons people overdraft their account?

Honest mistakes happen sometimes but keeping a close eye on your account balance will help you avoid charges for overdrawing your account. Remember to check your balance frequently, at least once per day.

Because it can sometimes be days or weeks before checks post to your account, an outstanding check could overdraft your account if you aren’t careful. Making sure there is enough money to cover all outstanding checks will prevent an accidental overdraft from a delayed check or payment.

By checking your balance often, you should be alerted quickly to any fraudulent activity on your account. A fraudster could incur Overdraft Fees on your account by overspending your balance. If it’s proven that fraud was committed and you were not at fault, those Overdraft Fees would be reversed.

4) What are ways you can protect yourself against Overdraft Fees?

Using Mabrey’s Digital Banking product (online or mobile banking) to check your balance is the best first step to always ensuring you are informed of your account balance. Mabrey allows you to set-up balance and transaction alerts to receive a text notification based on specific criteria you set. For example, you can set an alert if your checking account balance falls below $100.

Mabrey Bank also offers 24/7 Bank by Phone where you can check your balance and hear a listing of transactions.

5) How does Mabrey Bank make it easier for you to avoid Overdraft Fees?

Mabrey Bank offers “sweeps” to its customers which allows the bank to link your Checking account to your Savings, Money Market, or a different Checking account. This way, in case you do overdraw your checking account, we automatically transfer funds from the linked account to cover the shortage, assuming you have sufficient funds in the linked accounts. We offer this service free of charge on personal accounts.

Sometimes mistakes happen, so Mabrey gives you a little cushion for those rare instances. We will not charge a customer on a personal account an Overdraft Fee if the overage on the account is $25 or less. Also, we don’t want our customers to feel like they are being nickel and dimed, so no Overdraft Fees will be incurred for a purchase that is $10 or less.

If you have any questions about Overdraft Fees, give us a call at 888-272-8866, and we would be happy to assist you.

Walking across the graduation stage in 1966, Carlisle Mabrey III grasped a University of Oklahoma diploma commending a degree in History. It was a hard-earned degree for Mabrey given that state history wasn’t taught in Oklahoma high schools during the late ‘50s and early ‘60s when he was a student at Okmulgee High School. Yet, that interest in History lay dormant as Mabrey’s path took him in a different direction.

A post-graduate Law degree led Mabrey to military service in the Air Force JAG corps, and a career in Banking saw Mabrey work his way up to take charge of the family business with Mabrey Bank. Fifty-six years and a lifetime full of accomplishments later, the undergraduate History degree remained nothing more than a memory and a wall decoration for Mabrey until a call from the Governor’s office earlier this year.

A spot was opening on the Board of Trustees for the Oklahoma Historical Society, and Governor Kevin Stitt thought Mabrey would be a good fit due to his relationship with other board members and his long career in local business. While he didn’t realize it until after receiving the appointment, the opportunity came at the perfect time for Mabrey, and it instantly reignited the strong interest in the history of Oklahoma.

“I wasn’t serving on any Board at that particular time,” said Mabrey. “The call from the Governor’s office came when I was maybe looking for something like that. I talked to my wife, Ellen, and she said she thought it was a perfect fit with my natural interest in history. I actually had a chance to thank Governor Stitt in person [at the annual Boots, Bandanas & BBQ event in October]. We had a nice 10-15-minute conversation.”

At Pawnee Bill Ranch and Museum in Pawnee, Okla. during last month’s quarterly OHS Board meeting, Mabrey III was officially sworn in as a Board Member. It was a fitting locale for Mabrey, who is discovering and re-learning the stories and intricacies of Oklahoma history. The Board met at Pawnee Bill’s Big Barn, once a stable where Gordon William Lillie, also known as “Pawnee Bill”, kept his horses for his “Wild West” touring shows.

The Museum is one of several sites throughout the state that the OHS has either built, maintained or preserved through its efforts to showcase and teach Oklahoma history. As a member of the OHS Board, Mabrey not only will help the Society secure and distribute funding for its current sites and projects across the state, but also hopefully spark a passion of history in others.

“I am just very interested to find out about these historical locations across the state,” said Mabrey. “Pawnee Bill’s Museum and Ranch has such an interesting history, and the site is well done. But Pawnee by itself can’t raise enough money to keep that going. The Historical Society’s funds are stretched to do everything it wants to do. I think some of our efforts will be trying to help secure more funds from legislature to add more places that preserve our history, but we also need funding to manage what we have right now.”

Part of preserving the state’s rich history is digitizing it to make it easily accessible to all. It’s a massive undertaking for the OHS and is still a work in progress. In its current state, “The Gateway to Oklahoma” has over 4 million files now accessible and has been used over 10 million times since its launch in 2012. Newspapers, magazines, photographs, maps and documents all are free and available through The Gateway.

“[Preserving history digitally] was one of our agenda items at our last meeting,” said Mabrey. “The Historical Society talked about how much that they’ve done, and of course it takes time and money to keep doing it. But, what it does is it makes all that history accessible to anybody, anywhere. Before you had to go to the Historical Society and dig through paper records to find what you wanted. The Historical Society is dedicating quite a bit of resources and time to continue doing that. Hopefully, it can be a deal where all of that history on Oklahoma is available to people worldwide.”

While Mabrey works on getting his feet wet and contributing to the Historical Society, he and his family have played a part in writing and shaping Oklahoma history as well. A quick search for “Carlisle Mabrey” on The Gateway shows 43 matching results across 11 different decades, a testament to Mabrey being the third in his family lineage to carry that name. It’s more than just mentions in newspaper articles however, Mabrey has served the state and its citizens through his work on several banking Boards, as a former chairman of the United Way, a trustee at Philbrook Museum and now on the Board at the Oklahoma Historical Society.

On the local government side, Mabrey followed in his great-grandfather’s footsteps to become the mayor of Okmulgee and oversaw the city’s efforts to restore the Creek Council House, a National Historic Landmark which is now run by the Muscogee (Creek) Nation as a Museum. To Mabrey though, the history of Oklahoma is more than just the physical monuments that are left behind.

“We tend to mark what has happened in our state with museums or markers, and we all enjoy using those to learn,” said Mabrey. “But, I want to make sure we preserve what really matters. It’s the people. When we travel and meet people who have been to Oklahoma, they all say how amazed they are by how friendly and accepting the people in Oklahoma are. That we respect all people and preserve that. I think that’s an Oklahoma trait.”

That mindset shows how Mabrey views his legacy. As the patriarch of a family with a last name and a business that is so intertwined in the annals of Oklahoma, Mabrey sees the value in ensuring more than just history is passed down.

“My wife and I have always felt like our legacy is our children,” said Mabrey. “That’s where a little part of you lives on. It was always important to us to rear our children properly. That’s our real legacy. The buildings, the bank, all of that is fine, but what people will remember of us is through our children, and my wife has been a wonderful mother.”

Each generation of Mabrey carries that legacy through their work at Mabrey Bank. For nearly 100 years, the bank has been a vital resource to the people of rural and urban Oklahoma. The friendly faces and warm experiences customers remember when visiting a Mabrey branch are a direct by-product of the culture and commitment that the Mabrey family has installed through the more than 270 Team Members which call working at Mabrey Bank a career.

“Building a business like Mabrey Bank takes so many people,” said Mabrey. “We have been lucky to have hired so many great people, and we have been fortunate they have stayed with us. We try to give them the tools and freedom they need to do their job properly, just like with our kids. You give them roots, and you give them wings. We have tried to do that with our employees. That’s our other legacy with the bank – having a workforce and associates that people in our communities know, respect and enjoy.”

Fittingly, while Mabrey sets his sights on Oklahoma’s history with the Historical Society, he has also contemplated doing the same with his own history. After a distinguished career incorporating military service, law, politics and banking, Mabrey has begun to also look backward rather than only forward.

“My focus has always been on ‘what are we going to do tomorrow,’ instead of ‘what did we do yesterday,’” said Mabrey. “While history is very important to me, I never have spent a lot of time looking back. After semi-retiring, some people have suggested I write a book about the history of the family and the bank. That’s the first time I thought much about that, so I may be reflecting on that when it comes time to write, because I have always enjoyed writing.”

Until that time comes though, Mabrey will be hard at work putting his History degree to good use with the Oklahoma Historical Society. Whether its learning more about Pawnee Bill’s Wild West shows or diving into the settling of Oklahoma through the land runs of the 1800s, Mabrey is enjoying his new position as a Board Member for the OHS.

“There is no other state like Oklahoma,” said Mabrey. “It has been a wonderful place to live and rear a family.”