UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to ______________ Commission File No. 001-37811 BOK FINANCIAL CORP (Exact name of registrant as specified in its charter) Oklahoma 73-1373454 (State or oth ...

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BOK Financial Corporation (NASDAQ:BOKF) Q2 2025 Earnings Call July 22, 2025 1:00 PM ET Company Participants Heather Worley - Senior VP & Director of Investor Relations Stacy Kymes - CEO, President & Director Scott Grauer - Executive Vice President of Wealth Management Martin Grunst - Executive VP & CFO Conference Call Participants Jared David Shaw - Barclays Bank PLC, Research Division Jon Arfstrom - RBC Capital Markets, Research Division Brett Rabatin - Hovde Group, LLC, Research Division Michael Rose - Ra ...

BOK Financial (BOKF) Q2 2025 Earnings Call July 22, 2025 01:00 PM ET Company ParticipantsHeather King - Director - IRStacy Kymes - CEO, President & DirectorScott Grauer - EVP - Wealth ManagementMartin Grunst - EVP & CFOJared Shaw - Managing DirectorJon Arfstrom - MD & Associate Director - US ResearchBrett Rabatin - Director - ResearchMichael Rose - Managing DirectorWoody Lay - Vice PresidentMatt Olney - Managing DirectorTimur Braziler - Director - Mid-Cap Bank Equity ResearchOperatorGreetings. Welcome to BO ...

Financial Data and Key Metrics Changes - The company reported earnings of $140 million, or EPS of $2.19 per diluted share for the second quarter, indicating a positive momentum in financial performance [4] - Net interest income grew for the fifth consecutive quarter, with a loan to deposit ratio of 64% and total capital levels remaining robust, with TCE reaching 9.6% and CET1 reaching 13.6% [6][7] - Total outstanding loans increased by 2.5% quarter over quarter, translating to over 10% on an annualized basis [8] Business Line Data and Key Metrics Changes - Fee income increased by 7.2% sequentially, with total fees and commissions contributing $197.3 million to revenue [5][14] - The core C and I loan portfolio grew by 1.1%, while the specialty lending portfolio decreased by 1.6% [8] - The commercial real estate (CRE) business saw a significant increase of 6.9% quarter over quarter, primarily driven by multifamily housing, retail, and industrial projects [9] Market Data and Key Metrics Changes - The trading revenue, including trading-related net interest income, was $30.5 million, representing a growth of 31% from the prior quarter [14] - Assets Under Management (AUMA) increased by $3.9 billion to $117.9 billion, reflecting increased market valuations and continued new business growth [16] Company Strategy and Development Direction - The company plans to launch a new mortgage finance line of business to support future loan growth, which is expected to enhance long-term sustainable growth [5][10] - The management emphasized the importance of investing in talent and systems to enable future growth, despite the increase in current period expenses [5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the loan growth outlook set at the beginning of the year, despite acknowledging economic policy uncertainty as a risk factor [21][22] - The company expects net charge-offs to remain below historical norms, supported by strong credit quality across the loan portfolio [12][22] Other Important Information - The company repurchased over 660,000 shares below $94 per share and redeemed all $131 million of Tier two capital instruments [7] - The combined allowance for credit losses is $330 million, or 1.36% of outstanding loans, indicating a healthy reserve level [13] Q&A Session Summary Question: Expectations for margin trajectory behind NII - Management noted that margin behaved well in Q2, with good lift from fixed asset repricing and deposit pricing, expecting continued support for margin growth [27][28] Question: Loan growth pace through the quarter - Management indicated that loan growth built throughout the quarter, with expectations for continued growth in the second half of the year, particularly in C and I and CRE [36][39] Question: Competitive environment for loan yields - Management acknowledged strong competition in their markets, with some spread compression observed on the C and I side, but overall spreads are holding well [40][41] Question: Fee income guidance for the full year - Management expressed confidence in continued growth across various fee income lines, driven by strong performance in fiduciary and asset management, transaction card, and deposit service charges [49][50] Question: Outlook on mortgage finance and expected balances - Management expects to achieve approximately $500 million in commitments by the end of the year, with a utilization rate of around 25% to 50% [81][82] Question: Funding expectations for loan growth - Management indicated a strong loan to deposit ratio and expects to continue growing deposits, with cash flows from the bond book and loan book supporting funding needs [102][103]

Core Insights - BOK Financial Corporation (BOKF) reported better-than-expected second-quarter 2025 results, with earnings per share of $2.19, surpassing the Zacks Consensus Estimate of $1.98, although this represents a 13.8% decline from the prior-year quarter [1][8] Financial Performance - The company's net income attributable to shareholders was $140 million, down 14.5% year over year [2] - Quarterly net revenues totaled $535.2 million, a decline of 3.6% year over year, but exceeded the Zacks Consensus Estimate of $517.9 million [3] - Net interest income increased by 10.8% year over year to $328.2 million, with the net interest margin expanding by 24 basis points to 2.80% [3] - Total fees and commissions decreased by 1.3% year over year to $197.3 million, primarily due to lower brokerage and trading revenues [3] Expense and Efficiency Metrics - Total operating expenses rose to $354.5 million, an increase of 5.3% year over year, mainly driven by higher personnel costs [4] - The efficiency ratio increased to 65.42% from 59.83% in the prior year, indicating a deterioration in profitability [4] Loan and Deposit Trends - As of June 30, 2025, total loans reached $24.3 billion, reflecting a 2.5% increase from the prior quarter, driven by growth in commercial real estate loans and loans to individuals [5] - Total deposits slightly declined to $38.2 billion, attributed to reduced demand and savings [5] Credit Quality and Capital Ratios - Non-performing assets decreased to $81 million, or 0.33% of outstanding loans, down from $93 million or 0.38% in the prior-year quarter [6] - The company recorded no provisions for credit losses, compared to $8 million in the prior-year quarter, with net charge-offs down 91.9% to $561 thousand [6] - As of June 30, 2025, the common equity Tier 1 capital ratio improved to 13.59%, up from 12.10% a year earlier [7] Profitability Ratios - Return on average equity was 9.70%, down from 12.79% in the year-ago quarter, while return on average assets decreased to 1.07% from 1.29% [9] Share Repurchase Activity - During the reported quarter, BOK Financial repurchased 663,298 shares at an average price of $93.99 per share [10] Overall Assessment - The solid loan balance is expected to support top-line growth, while improving asset quality is a positive factor amid a challenging operating environment; however, rising operating expenses present a near-term concern [11]

Financial Performance - Net income for Q2 2025 was $140 million, or $2.19 per diluted share[11], compared to $119.8 million, or $1.86 per diluted share in Q1 2025[11, 14] - Net interest income increased by $11.9 million sequentially to $328.2 million[37, 39] - Total fees and commissions were $197.3 million, a 7.2% decrease year-over-year[34] - The efficiency ratio was 65.4% in Q2 2025, compared to 68.3% in Q1 2025[11] Balance Sheet - Period end loans grew by $602 million, or 2.5%, to $24.3 billion[14, 15] - Period end deposits decreased slightly by 0.1% to $38.2 billion[15] - Assets under management or administration increased by $3.9 billion to $117.9 billion[16] Asset Quality - Non-performing assets, excluding government guaranteed loans, were $74 million, representing 0.31% of outstanding loans and repossessed assets[14, 27] - Net charge-offs were $561 thousand during Q2[14, 27] - The allowance for credit losses was $330 million, or 1.36% of loans at quarter end[27] Outlook - The company expects mid to upper single-digit loan growth for the full year 2025[47] - Net interest income is projected to be between $1.325 billion and $1.375 billion for 2025, assuming two 25 basis point rate cuts[47]

Core Insights - BOK Financial (BOKF) reported revenue of $535.26 million for Q2 2025, a year-over-year increase of 7.9% and exceeding the Zacks Consensus Estimate of $517.95 million by 3.34% [1] - The company's EPS for the same period was $2.19, up from $2.02 a year ago, representing a surprise of 10.61% compared to the consensus estimate of $1.98 [1] Financial Performance Metrics - Efficiency Ratio stood at 65.4%, better than the average estimate of 67.2% from two analysts [4] - Average Interest Earning Assets were $46.98 billion, surpassing the average estimate of $45.99 billion [4] - Net Charge-Offs were 0% compared to the estimated 0.1% [4] - Net Interest Margin was 2.8%, aligning with the average estimate [4] - Total Non-Interest Income was $207.1 million, exceeding the estimated $196.65 million [4] - Net Interest Income (FTE) was reported at $330.74 million, above the average estimate of $325.05 million [4] - Net Interest Income was $328.17 million, compared to the average estimate of $322.8 million [4] Stock Performance - BOK Financial shares returned +13.7% over the past month, outperforming the Zacks S&P 500 composite's +5.4% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market [3]

BOK Financial (BOKF) came out with quarterly earnings of $2.19 per share, beating the Zacks Consensus Estimate of $1.98 per share. This compares to earnings of $2.02 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +10.61%. A quarter ago, it was expected that this Regional banking operator would post earnings of $2.01 per share when it actually produced earnings of $1.86, delivering a surprise of -7.46%.Over the last four quart ...

BOK Financial Corporation reports quarterly earnings of $140 million, or $2.19 per share, in the second quarter. BOK Financial Corporation quarterly earnings release Exhibit 99.1(a) Net Interest Income Second quarter 2025 financial highlights 1 | Net Income | Net income was $140.0 million, or $2.19 per diluted share, compared to $119.8 million, or $1.86 per diluted share. | | --- | --- | | Net Interest Income & | Net interest income totaled $328.2 million, an increase of $11.9 million. Net interest margin e ...