Central Oklahoma Clearing House Association

Critical Protection for Financial Institutions

Our History

Our organization was founded in 1903. In 1973, the group was reorganized as the Central Oklahoma Clearing House Association, or COCHA, as we are known today.

1903-1919

1903

Objectives of the Association:

  1. Effecting at one place the daily exchanges between the associated banks,
  2. Payment at the same place of the balances from exchange,
  3. To establish Rules and Regulations in matters of common interest arising from or affecting relations with each other and with other banks in other localities,
  4. The fostering of sound and conservative methods of banking.

Officers: President, Vice President and Manager.

Clearing House Committee: President and 2 other non-officers.

  • Applications for membership made to the Clearing House Committee and applicants must have and maintain a paid up capital of at least $100,000.00.
  • Expenses of the Association (except printing and stationary) shall be apportioned equally according to the average amount of their clearing.
  • Early clearing at 9:00 A.M., Regular Clearing at 10:30 A.M. Between 11:30 and 11:45 A.M., debtor members pay balances and at 11:45 A.M., creditor members receive balances.
  • Irregular items directly returned by 3:00 P.M. the same day (12:00 Noon on Saturday).
  • Associate membership $25.00 paid by the regular member.
  • Uniform banking hours of 10:00 A.M. to 3:00 P.M. Monday thru Friday and 10:00 A.M. to 12:00 Noon on Saturday (does not apply to the savings and trust departments).

1910

President: Edw. H. Cooke, State National Bank
Vice President: I.M. Holcomb
Manager: F.G. Dennis

  • Hired F.G. Dennis as Clearing House Manager. Duties to include examining the member banks at least four times each year. Salary to increase if other towns join the association.
  • Regular clearing changed to 11:00 A.M.
  • Largest month’s clearing: $11,784,401.00 in November, 1910.

1911

President: E.H. Cooke, State National Bank
Vice President: I.M. Holcomb
Manager: F.G. Dennis

  • Uniform banking hours changes to 9:00 A.M. to 3:00 P.M. Monday thru Friday and 9:00 A.M. to 12:00 Noon on Saturday.
  • All currency paid the Clearing House (except large notes of $50.00 and up) packaged in $5,000.00 amounts with no notes less than $5.00. Gold coin packaged in $5,000.00 amounts.
  • Maximum 2% interest paid on bank balances.
  • Uniform charge of $1.25 shall be made for each lot of three hundred customers checks when overprinted upon regular stock checks provided by the bank.
  • Largest month’s clearing: $10,571,740.00 in January, 1911.
  • Total assets of members: $13,097,107.71

1912

President: E.H. Cooke, State National Bank
Vice President: F.J. Wikoff, Tradesmen’s State Bank
Manager: F.G. Dennis

  • Largest month’s clearing: $11,403,648.00 in October, 1912.
  • Total assets of member: $14,114,007.31.

1913

President: Wm. Mee, Security National Bank
Vice President: F.J. Wikoff, Tradesmen’s State Bank
Manager: F.G. Dennis – resigned 4/1/13 and went on to become Bank Commissioner; replaced by R.O. Wunderlich

  • Largest month’s clearing: $10,577,245.00 in October, 1913.
  • Total assets of members: $14,644,485.56.

1914

President: Wm. Mee, Security National Bank
Vice President: F.J. Wikoff, Tradesmen’s State Bank
Manager: R.O. Wunderlich

  • Rules and Regulations changed to keep $500.00 membership fee fund invested in Cashier’s Checks, Certificates of Deposit, State Bonds, County Bonds, School Bonds or Oklahoma City School Warrants with the earnings to be distributed to the members pro rata.
  • Largest month’s clearing: $12,747,529.00 in October, 1914.
  • Total assets of members: $13,849,233.42

1915

President: E.H. Cooke, State National Bank
Vice President: F.J. Wikoff, Tradesmen’s State Bank
Manager: R.O. Wunderlich

  • May 15, 1915 – out of 915 banks in the State, Oklahoma City has 617 bank accounts with aggregate deposits of $4,315,946.18.
  • Clearing House banks to subscribe their appropriate part of $1,000.00 fund for Canadian Bridge purpose.
  • Largest month’s clearing: $14,110,683.00 in November, 1915.
  • Total assets of members: $18,104,167.73.

1916

President: E.H. Cooke, State National Bank
Vice President: F.J. Wikoff, Tradesmen’s State Bank
Manager: R.O. Wunderlich

  • Subscribe $300.00 to the Edmond-Guthrie line for right-of-way purposes.
  • Largest month’s clearing: $29,485,547.00 (58,000 items) in October, 1916.
  • Total assets of members: $31,797,073.87.

1917

President: Wm. Mee, Security National Bank
Vice President: F.J. Wikoff, Tradesmen’s State Bank
Manager: R.O. Wunderlich

  • To advertise the sale of Liberty Bonds (2% required on application and not less than 2% weekly until paid).
  • On July 23, 1917 held a meeting to devise plans to secure a Federal Reserve Bank Branch in Oklahoma City. A letter was received from FRB Gov. Miller asking if the banks would agree to rediscount sufficiently with Branch to cover any deficit in cost of operation.
  • Total assets of members: $40,257,257.15.

1918

President: F.J. Wikoff, Tradesmen’s State Bank
Vice President:
Manager: R.E. Leavitt – hired February 8, 1918.

  • Set up service charge of $.50 per month on small checking accounts.
  • Organize a bankers club to meet for dinner one evening each month during nine months of the year. Clearing House to pay for the dinner with an open agenda.
  • Eight Clearing House banks to contribute $5,448.70 to Red Cross Fund.
  • Set up the rules for a 2:45 Go-Back Clearing.
  • Resolution passed: "The Associated Banks of Oklahoma City will be pleased to furnish funds, at the rate of 6% per annum, on bills payable of the banks in the stricken districts (Southwestern Oklahoma), secured by government approved applications for loans, or other satisfactory collateral, when shown necessary to buy seed wheat."
  • Total assets of members: $40,407,941.34.

1919

President: D.W. Hogan, Farmers National Bank
Vice President: R.C. Stuart, First State Bank
Manager: R.E. Leavitt – resigned 1/9/19; replaced by John T. Bailey – hired 2/26/19, resigned 4/9/19 (health); replaced by E.J. Litteer

  • Banks to charge 8% interest on all overdue payments.
  • Donated 4100.00 to the Policeman’s Club and Relief Assn. Pro rata based on the total amount of capital, surplus, undivided profits and deposits.

President to draft a letter to each member bank warning them of the impending shrink in deposits, caused by the shrink in farm and mercantile commodities and the consequent shrink that each member must necessarily make in his loans to be carried the ensuing year.

Give $3,000.00 to the Salvation Army Fund Drive.
Suggest buying the Continental Building for FRB Branch Bank to ensure branch will receive full powers.
Chamber of Commerce requests $7,500.00 to get them out of debt.
To pay $4,000.00 dues to the Chamber of Commerce for fiscal year ending June 30, 1921 with the present dues deducted.
New Clearing House office lease rental at $2.00 per square foot.