SpiritBank’s Business Resource Center Assists Owners


Owners of small businesses in the Tulsa area have a new resource in their battle to succeed. The Business Resource Center at SpiritBank’s branch at 1800 S. Baltimore Ave. has opened its doors to assist local entrepreneurs. The center provides confidential business consultations, business plan assistance, analysis of business finances and marketing strategy advice, as well as seminars and training programs.

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New Magazine Helps Russian-American Business Ties


The second issue of the new magazine, Russian-American Business, was recently published in Norman. It is a unique magazine with a goal to improve the business relationship between the United States and the Commonwealth of Independent States, an independent union of the former Soviet republics. The magazine is distributed in the United States, Russia, the Ukraine, Byelorussia, Kazakhstan and Kyrgyzstan. The owners of the magazine, Olga and Valery Tarasova, have also published the Russian-language newspaper, The Russian American, for several years.

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Wesley Harmon Enjoying Second Community Presidency


Wesley Harmon, president of the West Bank location of the Community Bank and Trust Company at 2420 Southwest Blvd., retired from banking in October 2003 only to return in March 2004. According to Harmon, boredom wasn’t the reason he returned after such a short retirement.

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HBA Installs New President and Board

Wayne Farabough, owner and president of Perfection Homes, was recently installed as president of the Home Builders Association of Greater Tulsa. Farabough became an active HBA member in 1998 and has served as an HBA Board of Director since 2000. He has been on the Budget and Finance Committee since 2001 and was chairman of the 2004 Parade of Homes.

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TTCU Ends Year with Notable $1.6 Million Bonus to Members

TTCU ended 2004 on a high note by paying its members more than $1.6 million in a Bonus Dividend. Unlike a bank customer, each individual member owns a share of the credit union, by opening a “share” or savings account, therefore the members benefit when the credit union has a successful year. This is the third year in a row a bonus has been paid to the membership. The total bonus paid over the last three years is more than $5 million.

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SBC a Fortune 50 Company

SBC Communications Inc. (www.sbc.com) is a Fortune 50 company and is one of the strongest companies in greater Tulsa. Its subsidiaries, operating under the SBC brand, provide a full range of voice, data, networking, e-business, directory publishing and adverting, and related services to businesses, consumers, and other telecommunications providers. SBC holds a 60 percent ownership interest in Cingular Wireless, which serves more than 46 million wireless customers. SBC companies provide high-speed DSL internet access lines to more American consumers than any other provider and are among the nation’s leading providers of internet services. SBC companies also now offer satellite TV services. Additional information about SBC and SBC products and services is available at www.sbc.com.

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Valley National Bank Grows; Local Ownership Keys Success

Valley National Bank was established in February of 1982 at 81st Street and Yale Avenue. The philosophy at the founding of the bank continues to this day: to be a locally owned and operated full service financial institution. The philosophy has paid great dividends.

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TU Inducts Lobeck and Brown Into Hall of Fame

William E. Lobeck, Jr., and C. Arnold Brown are the newest members of The University of Tulsa College of Business Administration Hall of Fame.

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Credit Union Renamed

Williams Employees Credit Union (WECU) announced a name change to WilServ Credit Union.

According to Gary Jones, president/general manager, the credit union has not been purchased nor merged with another financial institution. There are no personnel changes resulting from the change in name. “The membership of the credit union has evolved. It now represents a diverse group of members from our sponsor company, Williams; partner companies and as of last year from the communities in Tulsa, Rogers, Creek, Osage and Wagoner counties. We needed a name that included all our members and is welcoming to potential members.”

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Arvest Mortgage and Fannie Mae Announce Alliance

In an effort to close the gap in U.S. homeownership rates among the underserved, Arvest Mortgage Company and Fannie Mae (FNM/NYSE), the nations largest source of financing for home mortgages, announced a $1 billion affordable lending alliance, helping Oklahomans become homeowners. More than 11,000 low- and moderate-income families are expected to benefit from this partnership. This alliance will provide $1 billion in affordable mortgage financing through 2008 and will impact families desiring to become homeowners in states where Arvest operates. Arvest Mortgage Group is based in Tulsa. Arvest Mortgage Company plans to make $200-$250 million in home loans in Oklahoma next year.

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Resource Campaign Exceeds Goal

The second annual Total Resource Campaign conducted by the Home Builders Association of Greater Tulsa exceeded its $350,000 goal by more than $20,000, said the campaign chairman, Darrell Jenkins, The Jenkins Companies. The HBA of Greater Tulsa was the first HBA in the nation to conduct such a campaign.

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