Banking in Oklahoma, 1907-2000
History / University of Oklahoma Press, 2014
*2015 Outstanding Book on Oklahoma History, Oklahoma Historical Society
Through meticulous research and oral history interviews with bankers statewide, Michael has crafted a compelling narrative of Oklahoma banking in the twentieth century. Topics include the ill-fated deposit guarantee law of 1908; bankers’ armed resistance to brazen hold-ups during the Roaring Twenties; adaptation to regulations spawned by the Great Depression; the post–World War II boom; the 1980s depression in the oil patch; the demise of unit banking; and changes fostered by rapid-fire advances in technology and communication. Penn Square Bank offers one of history’s few unambiguous lessons, and it warrants two chapters—one on the rise, and one on the fall. Increasing regulation of the banking industry, the survival of family banks, and the resilience of community banking are consistent themes in a state that is only a few generations removed from the frontier.
What readers and reviewers have to say…
His book plows new ground in illuminating the issues central to banking and commerce that have shaped the state’s history. Gene Rainbolt, chairman, BancFirst Corporation
His research is well grounded in trade periodicals, newspaper reports, archival documents, and personal interviews. The interviews are particularly valuable for his treatment of the late twentieth century. Readers with a general interest in economic history and a particular interest in Oklahoma history will especially appreciate this work. Journal of Southern History. Reviewed by Houston Mount, East Central Oklahoma University
The author’s ability to obtain personal information from bankers and regulators in the state is remarkable. Much of his material was obtained from numerous interviews, and his comprehensive references make this a very valuable text for any student of the era. Clearly there is no better individual to tell this story than a member of the family who came to dominate banking in the state’s early years and who knew the participants. Chronicles of Oklahoma. Reviewed by Randal Ice, University of Central Oklahoma