BOK Financial Corporation (NASDAQ:BOKF) Q4 2022 Earnings Conference Call January 25, 2023 10:00 AM ET Company Participants Steven Nell - Chief Financial Officer Stacy Kymes - President and Chief Executive Officer Marc Maun - Executive Vice President, Regional Banks Scott Grauer - Executive Vice President, Wealth Management Martin Grunst - Incoming Chief Financial Officer Conference Call Participants Jared Shaw - Wells Fargo Securities Brady Gailey - KBW Jon Arfstrom - RBC Capital Markets Matt Olney - Stephe ...

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, 2022 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 Corporation (NASDAQ:BOKF) Q3 2022 Results Conference Call October 26, 2022 10:00 AM ET Company Participants Steven Nell - Chief Financial Officer Stacy Kymes - CEO Marc Maun - Executive Vice President, Regional Banking Scott Grauer - Executive Vice President, Wealth Management Conference Call Participants Jared Shaw - Wells Fargo Securities Brady Gailey - KBW Brett Rabatin - Hovde Group Jennifer Demba - Truist Securities Matt Olney - Stephens Operator I would now like to turn the conference ov ...

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, 2022 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 Corporation (NASDAQ:BOKF) Q2 2022 Results Conference Call July 27, 2022 10:00 AM ET Company Participants Steven Nell - Chief Financial Officer Stacy Kymes - Chief Executive Officer Marc Maun - Executive Vice President, Regional Banking Scott Grauer - Executive Vice President, Wealth Management Conference Call Participants Brady Gailey - KBW Jared Shaw - Wells Fargo Securities Brett Rabatin - Hovde Group Peter Winter - Wedbush Securities Jon Arfstrom - RBC Matt Olney - Stephens Inc Gary Tenner ...

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 March 31, 2022 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 Corporation (NASDAQ:BOKF) Q1 2022 Earnings Conference Call April 27, 2022 10:00 AM ET Company Participants Steven Nell - Chief Financial Officer Stacy Kymes - President & Chief Executive Officer Marc Maun - Executive Vice President, Regional Banking Scott Grauer - Executive Vice President, Wealth Management Conference Call Participants Jared Shaw - Wells Fargo Peter Winter - Wedbush Securities Jon Arfstrom - RBC Capital Markets Jennifer Demba - Truist Securities Brady Gailey - KBW Gary Tenner ...

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, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to ______________ | --- | --- | --- | |---------------------------------------------------------------------------------|---------------------------- ...

BOK Financial Corporation (NASDAQ:BOKF) Q4 2021 Earnings Conference Call January 19, 2022 10:00 AM ET Company Participants Stacy Kymes - Chief Executive Officer Marc Maun - EVP, Regional Banking Executive Scott Grauer - EVP, Wealth Management Steven Nell - Chief Financial Officer Conference Call Participants Jon Rau - Wells Fargo Brady Gailey - KBW Matt Olney - Stephens Incorporated Clark Wright - D.A. Davidson Operator Greetings. Welcome to BOK Financial Corporation Fourth Quarter 2021 Earnings Conference ...

[Part I. Financial Information](index=3&type=section&id=Part%20I.%20Financial%20Information) This section provides a comprehensive overview of the company's financial performance, condition, and operational results for the period [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=3&type=section&id=Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) BOK Financial Corporation reported strong Q3 2021 results with net income of **$188.3 million**, driven by a negative provision for credit losses and growth in fee-based businesses, while maintaining a strong capital position [Performance Summary](index=3&type=section&id=Performance%20Summary) The company reported net income of **$188.3 million** for Q3 2021, supported by a negative provision for credit losses and a gain on an alternative investment, despite a decline in mortgage banking revenue Q3 2021 Key Financial Highlights | Metric | Q3 2021 | Q2 2021 | Q3 2020 | | :--- | :--- | :--- | :--- | | Net Income | $188.3M | $166.4M | $154.0M | | Diluted EPS | $2.74 | $2.40 | $2.19 | | Provision for Credit Losses | ($23.0M) | ($35.0M) | $0M | | Pre-Provision Net Revenue (PPNR) | $219.4M | $179.9M | $204.6M | - Net interest revenue increased by **$8.5 million** year-over-year to **$280.2 million**, driven by growth in average earning assets, although the net interest margin declined to **2.66%** from **2.81%** due to a shift in asset mix[8](index=8&type=chunk) - Fees and commissions revenue decreased by **$32.4 million** year-over-year to **$190.4 million**, primarily due to a **$25.7 million** drop in mortgage banking revenue and a **$21.6 million** decrease in brokerage and trading revenue[9](index=9&type=chunk) - Total outstanding loans decreased by **$1.1 billion** from the prior quarter to **$20.3 billion**, largely due to a **$586 million** reduction in Paycheck Protection Program (PPP) loans[11](index=11&type=chunk) - The combined allowance for credit losses stood at **$306 million**, or **1.54%** of outstanding loans (excluding PPP loans), down from **$336 million** (**1.66%**) at the end of Q2 2021[12](index=12&type=chunk) - The company maintained strong capital ratios, with the Common Equity Tier 1 capital ratio increasing to **12.26%** from **11.95%** in the prior quarter[16](index=16&type=chunk) [Results of Operations](index=5&type=section&id=Results%20of%20Operations) The company's results were shaped by stable net interest revenue, consistent other operating revenue offsetting a decline in mortgage banking, and slightly decreased operating expenses [Lines of Business](index=13&type=section&id=Lines%20of%20Business) Commercial Banking and Wealth Management saw significant net income growth in Q3 2021, while Consumer Banking experienced a notable decline due to lower mortgage activity Net Income by Line of Business (in thousands) | Line of Business | Q3 2021 | Q3 2020 | % Change | | :--- | :--- | :--- | :--- | | Commercial Banking | $102,694 | $75,097 | 37% | | Consumer Banking | $12,432 | $26,855 | (54)% | | Wealth Management | $41,406 | $31,212 | 33% | | **Subtotal** | **$156,532** | **$133,164** | **18%** | [Financial Condition](index=21&type=section&id=Financial%20Condition) As of September 30, 2021, the company's financial condition remained solid with stable securities, decreased loans due to PPP forgiveness, increased deposits, and strong capital ratios [Market Risk](index=43&type=section&id=Market%20Risk) The company manages market risk, primarily from interest rate fluctuations, through its Asset/Liability Committee and hedging strategies, while actively transitioning away from LIBOR Interest Rate Sensitivity on Net Interest Revenue (Next 12 Months) | Rate Shock Scenario | Estimated Impact ($ thousands) | Estimated Impact (%) | | :--- | :--- | :--- | | +200 bps | $74,998 | 6.67% | | +100 bps | $47,528 | 4.23% | - The company actively manages the earnings volatility from its Mortgage Servicing Rights (MSRs) using economic hedges. A stress test for a **50 basis point** upward shock in rates estimates a net exposure loss of **$7.4 million**, while a **50 basis point** downward shock estimates a net loss of **$1.9 million**[227](index=227&type=chunk)[229](index=229&type=chunk)[230](index=230&type=chunk) - A LIBOR Transition Working Group has been established to manage the phase-out of LIBOR. The company plans to cease originating new LIBOR-indexed loans by December 31, 2021, and expects its primary replacement index to be the Secured Overnight Financing Rate (SOFR)[239](index=239&type=chunk)[240](index=240&type=chunk) [Controls and Procedures](index=46&type=section&id=Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, with no material changes to internal controls over financial reporting during the quarter - Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of September 30, 2021[241](index=241&type=chunk) - No changes during the third quarter were identified that materially affected or are likely to materially affect the company's internal controls over financial reporting[243](index=243&type=chunk) [Consolidated Financial Statements – Unaudited](index=48&type=section&id=Consolidated%20Financial%20Statements%20%E2%80%93%20Unaudited) This section presents the unaudited consolidated financial statements for BOK Financial Corporation as of and for the periods ended September 30, 2021, including statements of earnings, balance sheets, and cash flows, along with detailed notes [Consolidated Statements of Earnings](index=48&type=section&id=Consolidated%20Statements%20of%20Earnings) This statement summarizes the company's revenues, expenses, and net income for the three months ended September 30, 2021 and 2020 Consolidated Earnings Summary (in thousands) | Metric | Three Months Ended Sep 30, 2021 | Three Months Ended Sep 30, 2020 | | :--- | :--- | :--- | | Net Interest Revenue | $280,227 | $271,750 | | Provision for Credit Losses | ($23,000) | $0 | | Total Other Operating Revenue | $229,832 | $229,938 | | Total Other Operating Expense | $291,277 | $297,044 | | **Net Income** | **$187,721** | **$154,092** | | **Net Income Attributable to BOK** | **$188,322** | **$154,034** | | **Diluted EPS** | **$2.74** | **$2.19** | [Consolidated Balance Sheets](index=50&type=section&id=Consolidated%20Balance%20Sheets) This statement provides a snapshot of the company's assets, liabilities, and equity as of September 30, 2021 and December 31, 2020 Consolidated Balance Sheet Highlights (in thousands) | Account | Sep 30, 2021 | Dec 31, 2020 | | :--- | :--- | :--- | | **Total Assets** | **$46,923,409** | **$46,671,088** | | Loans, net of allowance | $20,071,256 | $22,618,880 | | Total Deposits | $38,524,551 | $36,143,880 | | **Total Liabilities** | **$41,526,961** | **$41,379,527** | | **Total Shareholders' Equity** | **$5,388,973** | **$5,266,266** | [Consolidated Statements of Cash Flows](index=53&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) This statement details the cash inflows and outflows from operating, investing, and financing activities for the nine months ended September 30, 2021 and 2020 Cash Flow Summary (Nine Months Ended Sep 30, in thousands) | Cash Flow Activity | 2021 | 2020 | | :--- | :--- | :--- | | Net Cash (Used in) Operating Activities | ($83,326) | $360,527 | | Net Cash Provided by (Used in) Investing Activities | $2,147,445 | ($2,874,564) | | Net Cash (Used in) Financing Activities | ($1,352,714) | $2,261,587 | | **Net Increase (Decrease) in Cash** | **$711,405** | **($252,450)** | [Quarterly Financial Summary – Unaudited](index=105&type=section&id=Quarterly%20Financial%20Summary%20%E2%80%93%20Unaudited) This section provides a detailed summary of consolidated daily average balances, yields, and rates for various asset and liability categories over nine-month and quarterly periods Nine-Month Average Balances & Yields (2021 vs 2020) | Metric | Nine Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2020 | | :--- | :--- | :--- | | Average Earning Assets | $43.7B | $39.5B | | Tax-equivalent Net Interest Revenue | $847.8M | $819.0M | | Tax-equivalent Net Interest Margin | 2.56% | 2.67% | | Average Total Equity | $5.35B | $5.05B | Quarterly Average Balances & Yields (Q3 2021 vs Q2 2021) | Metric | Q3 2021 | Q2 2021 | | :--- | :--- | :--- | | Average Earning Assets | $43.0B | $43.9B | | Tax-equivalent Net Interest Revenue | $282.4M | $282.6M | | Tax-equivalent Net Interest Margin | 2.66% | 2.60% | | Average Total Equity | $5.44B | $5.33B | [Quarterly Earnings Trend – Unaudited](index=108&type=section&id=Quarterly%20Earnings%20Trend%20%E2%80%93%20Unaudited) This section presents a trend of key income statement items over the last five quarters, highlighting the recovery in net income and shifts in revenue and provision for credit losses Quarterly Earnings Per Share (Diluted) | Quarter | Diluted EPS | | :--- | :--- | | Q3 2021 | $2.74 | | Q2 2021 | $2.40 | | Q1 2021 | $2.10 | | Q4 2020 | $2.21 | | Q3 2020 | $2.19 | [Part II. Other Information](index=109&type=section&id=Part%20II.%20Other%20Information) This section covers additional disclosures including legal proceedings, equity security sales, and required exhibits [Legal Proceedings](index=109&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in several legal proceedings, including class actions related to trustee duties, overdraft fees, and 401k plan offerings, with management believing no material adverse outcomes are probable - The company is a defendant in a putative class action related to its role as trustee for municipal bonds where an employee violated company policies. The action is currently stayed, and management believes a loss is not probable[385](index=385&type=chunk)[386](index=386&type=chunk)[387](index=387&type=chunk) - A putative class action alleging that an extended overdraft fee constituted interest was dismissed but remains on appeal. Management believes a loss is not probable[388](index=388&type=chunk) - A putative class action was filed by former employees alleging breaches of fiduciary duty related to the company's 401k plan offerings. The case is pending on a motion to dismiss, and management does not consider a loss probable[389](index=389&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=109&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q3 2021, the company repurchased **478,141** shares of its common stock at an average price of approximately **$84.99** per share as part of its publicly announced program Share Repurchases in Q3 2021 | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | July 2021 | 125,000 | $83.45 | | August 2021 | 195,141 | $86.13 | | September 2021 | 158,000 | $84.84 | | **Total** | **478,141** | **-** | [Exhibits](index=109&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including CEO and CFO certifications and Interactive Data Files - Exhibits filed include CEO and CFO certifications pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act[475](index=475&type=chunk) - The filing includes Interactive Data Files (Inline XBRL) as required by Rule 405 of Regulation S-T[474](index=474&type=chunk)