MidFirst Bank wins satisfaction ranking
Oklahoma City-based MidFirst Bank received the highest ranking in customer satisfaction in the southwest region in the J.D. Power 2018 U.S. Retail Banking Satisfaction Study.
With an index score of 877, MidFirst Bank achieved the highest overall score of any bank in the nation.
“We strive every day to build lasting relationships with our customers by understanding their needs and supporting their dreams,” said Jeff Records, president and CEO of MidFirst Bank. “The entire MidFirst Bank team is excited about this recognition as it demonstrates our concerted effort to provide extraordinary service and personalized solutions for our customers.”
J.D. Power measures customer satisfaction across 11 U.S. regions, and the results are based on responses from more than 88,000 bank customers regarding their experiences at 200 of the nation’s largest banks. The Retail Banking Satisfaction Study measures customer satisfaction across six factors: channel activities (including assisted online service, ATM, branch service, call center service, automated phone service, mobile banking, and online banking), communication and advice, convenience, new account opening, problem resolution, and products and fees.
MidFirst Bank has retail banking centers in Oklahoma, Arizona, California, Colorado, and Texas, and provides commercial lending, wealth management, private banking and mortgage servicing nationally.
AAON Inc.
AAON Inc. reported a drop in earnings for the first quarter, it announced Thursday.
The Tulsa-based manufacturer of industrial and commercial HVAC equipment reported that earnings per diluted share were 8 cents, down 57.9 percent from the 19 cents for the same period in 2017.
Net income was $4.3 million for the first quarter, a dip of 58.3 percent from the $10.2 million in the same period a year ago.
Net sales, however, were $99.1 million, up 15.1 percent from $86.1 million in 2017.
In January, the company paid a one-time bonus of $1,000 per employee as a result of the Tax Cuts and Jobs Act, which lowered the federal corporate tax rate from 35 percent to 21 percent. This bonus increased cost of sales by $1.9 million, excluding taxes and benefits.
“We witnessed deterioration of our gross profit in the first quarter due to four primary reasons,” CEO Norman H. Asbjornson said in a statement. “Most importantly, we made a decision to maintain a larger than necessary workforce during a typically slower quarter, which increased our manufacturing overhead by approximately 10 percent of sales.
“While we sold 20 percent more units, there was a continued shift in demand to less profitable units. In addition, we experienced double-digit increases in the cost of copper and galvanized steel. The final factor was the bonus paid related to the Tax Act. We expect our gross profit to recover as we enter our peak season and our production increases.”