BOK Financial Corporation (NASDAQ:BOKF) Q4 2020 Earnings Conference Call January 20, 2021 10:00 AM ET Company Participants Steven Nell - Executive Vice President and Chief Financial Officer Steven Bradshaw - President and Chief Executive Officer Stacy Kymes - Executive Vice President, Corporate Banking Scott Grauer - Executive Vice President, Wealth Management; CEO, BOK Financial Securities, Inc. Marc Maun - Executive Vice President and Chief Credit Officer Conference Call Participants Ken Zerbe - Morgan St ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 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. 0-19341 | --- | --- | |------------------------------------------------------------------------------- ...

BOK Financial Corporation (NASDAQ:BOKF) Q3 2020 Earnings Conference Call October 21, 2020 10:00 AM ET Company Participants Steven Nell - EVP and CFO Steve Bradshaw - President and CEO Stacy Kymes - EVP, Corporate Banking Scott Grauer - EVP, Wealth Management Marc Maun - Chief Credit Officer Conference Call Participants Ken Zerbe - Morgan Stanley Brady Gailey - KBW Jon Arfstrom - RBC Capital Markets Brandon King - Truist Securities Gary Tenner - D.A. Davidson Peter Winter - Wedbush Securities Operator Greeti ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (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, 2020 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. 0-19341 BOK FINANCIAL CORP ET AL (Exact name of registrant as specified in its charter) Oklahoma 73-1373454 ...

BOK Financial Corporation (NASDAQ:BOKF) Q2 2020 Results Earnings Conference Call July 22, 2020 10:00 AM ET Company Participants Steven Nell - Chief Financial Officer Steve Bradshaw - Chief Executive Officer Stacy Kymes - Executive Vice President, Corporate Banking Marc Maun - Chief Credit Officer Scott Grauer - Executive Vice President, Wealth Management Conference Call Participants Ken Zerbe - Morgan Stanley Gary Tenner - D.A. Davidson Brady Gailey - KBW Brandon King - SunTrust Robinson Humphrey Jon Arfstr ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedMarch 31, 2020 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. 0-19341 | --- | --- | |------------------------------------------------------------------------------------ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR | --- | --- | --- | |--------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------| | | | | | | TRANSITION REPORT PURSUANT TO SECTI ...

[Part I. Financial Information](index=2&type=section&id=Part%20I.%20Financial%20Information) This part presents a comprehensive overview of the company's financial condition, operational results, market risks, and control environment [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=3&type=section&id=Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Q3 2019 net income rose to $142.2 million, driven by the CoBiz acquisition, despite net interest margin compression [Performance Summary](index=3&type=section&id=Performance%20Summary) Q3 2019 performance was marked by strong net income and EPS growth, significantly influenced by the CoBiz acquisition Q3 2019 Key Performance Indicators | Metric | Q3 2019 | Q2 2019 | Q3 2018 | | :--- | :--- | :--- | :--- | | Net Income | $142.2M | $137.6M | $117.3M | | Diluted EPS | $2.00 | $1.93 | $1.79 | | Net Interest Revenue | $279.1M | $285.4M | $240.9M | | Net Interest Margin | 3.01% | 3.30% | 3.21% | | Fees and Commissions Revenue | $186.1M | $176.1M | $166.2M | | Provision for Credit Losses | $12.0M | $5.0M | $4.0M | | Period-end Loans | $22.3B | $22.3B | - | | Period-end Deposits | $26.2B | $25.3B | - | | Common Equity Tier 1 Ratio | 11.06% | 10.84% | - | - The acquisition of **CoBiz Financial** in Q4 2018 significantly impacted results, contributing **$40.6 million** to net interest revenue and **$20.8 million** to operating expenses in Q3 2019[9](index=9&type=chunk)[11](index=11&type=chunk) - The Board of Directors approved a quarterly cash dividend increase to **$0.51 per common share**, payable in November 2019[18](index=18&type=chunk) [Results of Operations](index=5&type=section&id=Results%20of%20Operations) Operational results show strong revenue growth from the CoBiz acquisition, offset by a declining net interest margin [Lines of Business](index=12&type=section&id=Lines%20of%20Business) Commercial Banking led net income growth, Consumer Banking doubled its income, while Wealth Management saw a decline Net Income by Line of Business (in thousands) | Line of Business | Q3 2019 | Q3 2018 | % Change | | :--- | :--- | :--- | :--- | | Commercial Banking | $101,573 | $84,964 | 20% | | Consumer Banking | $16,640 | $8,015 | 108% | | Wealth Management | $23,206 | $28,866 | (20)% | | **Subtotal** | **$141,419** | **$121,845** | **16%** | - The operations of **CoBiz** were allocated to the operating segments starting in **Q2 2019**; prior to April 1, 2019, CoBiz operations were included in Funds Management and other[67](index=67&type=chunk) [Financial Condition](index=20&type=section&id=Financial%20Condition) The company maintained a stable financial position with $43.1 billion in assets and strong capital ratios [Market Risk](index=44&type=section&id=Market%20Risk) The company manages interest rate risk through a rate-neutral strategy and economic hedges for Mortgage Servicing Rights Interest Rate Sensitivity on Net Interest Revenue (Next 12 Months) | Rate Shock | Estimated Impact (in thousands) | % Change | | :--- | :--- | :--- | | +200 bps | $(20,916) | (1.89)% | | -100 bps | $(28,509) | (2.57)% | MSR Asset and Hedge Sensitivity Analysis (in thousands) | Rate Shock | MSR Asset | MSR Hedge | Net Exposure | | :--- | :--- | :--- | :--- | | +50 bps | $33,176 | $(41,744) | $(8,568) | | -50 bps | $(42,387) | $39,600 | $(2,787) | - Management has established a **LIBOR Transition Working Group** to guide the company's transition process away from LIBOR, which is expected to be phased out after 2021[241](index=241&type=chunk) [Controls and Procedures](index=48&type=section&id=Controls%20and%20Procedures) Management concluded that disclosure controls and internal controls over financial reporting were effective as of the period end - The CEO and CFO concluded that the company's disclosure controls and procedures were **effective** as of the end of the reporting period[243](index=243&type=chunk) [Consolidated Financial Statements – Unaudited (Item 1)](index=49&type=section&id=Consolidated%20Financial%20Statements%20%E2%80%93%20Unaudited%20(Item%201)) This section presents the unaudited consolidated financial statements and accompanying notes for the period [Consolidated Statements of Earnings](index=49&type=section&id=Consolidated%20Statements%20of%20Earnings) The statements detail revenue, expenses, and net income for the three and nine months ended September 30, 2019 Consolidated Earnings Summary (in thousands) | Metric | Three Months Ended Sep 30, 2019 | Three Months Ended Sep 30, 2018 | | :--- | :--- | :--- | | Net Interest Revenue | $279,096 | $240,883 | | Provision for Credit Losses | $12,000 | $4,000 | | Total Other Operating Revenue | $186,450 | $167,941 | | Total Other Operating Expense | $279,292 | $252,617 | | **Net Income** | **$141,858** | **$117,545** | [Consolidated Balance Sheets](index=52&type=section&id=Consolidated%20Balance%20Sheets) The balance sheets present the company's assets, liabilities, and equity as of September 30, 2019 Consolidated Balance Sheet Summary (in thousands) | Account | Sep 30, 2019 | Dec 31, 2018 | | :--- | :--- | :--- | | **Total Assets** | **$43,127,205** | **$38,020,504** | | Loans, net of allowance | $22,080,935 | $21,449,273 | | Total Deposits | $26,167,076 | $25,263,763 | | **Total Liabilities** | **$38,289,540** | **$33,577,459** | | **Total Equity** | **$4,837,665** | **$4,443,045** | [Notes to Consolidated Financial Statements](index=59&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes provide critical disclosures on accounting policies, financial instruments, and upcoming standard adoptions - The company adopted the new lease accounting standard (**ASU 2016-02**) on January 1, 2019, which increased right-of-use assets and lease liabilities by **$137 million** with an **immaterial effect** on retained earnings[265](index=265&type=chunk) - The company is preparing to adopt the new credit loss standard, **CECL (ASU 2016-13)**, on **January 1, 2020**, with an implementation team finalizing model validation and governance processes[267](index=267&type=chunk) [Part II. Other Information](index=123&type=section&id=Part%20II.%20Other%20Information) This part covers legal proceedings, share repurchase activities, and a list of filed exhibits [Item 1. Legal Proceedings](index=123&type=section&id=Item%201.%20Legal%20Proceedings) The company faces several legal proceedings, including class action lawsuits, but believes a material loss is not probable - BOKF, NA is a defendant in a **putative class action lawsuit** from bondholders related to its role as trustee for municipal bonds where an employee previously violated company policies[378](index=378&type=chunk)[381](index=381&type=chunk) - The company faces **two putative class actions** alleging excessive or improper overdraft fees, for which management believes a **loss is not probable**[386](index=386&type=chunk)[387](index=387&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=123&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased 336,713 shares of its common stock during the third quarter of 2019 Share Repurchases in Q3 2019 | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | July 2019 | 0 | N/A | | August 2019 | 311,713 | $77.23 | | September 2019 | 25,000 | $74.46 | | **Total Q3** | **336,713** | **~$77.03** | [Item 6. Exhibits](index=123&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the report, including required CEO and CFO certifications - Exhibits filed include **CEO/CFO certifications** (31.1, 31.2, 32) and **Interactive Data Files** (101)[477](index=477&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedJune 30, 2019 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. 0-19341 | --- | --- | |------------------------------------------------------------------------------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to ______________ | --- | --- | |--------------------------------------------------------------------------------------------------|------------ ...