Deposits and Loan-to-Deposit Ratio - Average deposits for 2023 totaled $33.2 billion, a decrease of $4.6 billion compared to the prior year[349] - Average deposits attributed to Commercial Banking were $15.3 billion for 2023, a $3.0 billion or 16% decrease compared to 2022[350] - Total brokered deposits represented 2% of total average deposits in 2023[351] - Estimated uninsured deposits totaled $18.7 billion or 55% of total deposits at December 31, 2023[354] - The loan to deposit ratio increased to 70% at December 31, 2023 from 65% at December 31, 2022[348] Capital Ratios and Equity - Common equity Tier 1 capital increased to 12.06% in December 2023, up from 11.69% in 2022[361] - Total capital ratio rose to 13.16% in December 2023, compared to 12.67% in 2022[361] - Tangible common equity ratio improved to 8.29% in December 2023, up from 7.63% in 2022[363] - Adjusted tangible common equity ratio increased to 8.02% in December 2023, compared to 7.36% in 2022[363] - Return on average tangible common equity was 14.00% in December 2023, slightly down from 14.12% in 2022[363] Net Interest Revenue and Margin - Net interest revenue excluding trading activities increased to $1.295 billion in December 2023, up from $1.166 billion in 2022[364] - Net interest margin on average interest-earning assets excluding trading activities rose to 3.31% in December 2023, compared to 3.26% in 2022[364] - Efficiency ratio excluding adjustments improved to 61.42% in December 2023, down from 61.63% in 2022[364] - Pre-provision net revenue increased to $728.9 million in December 2023, up from $690.1 million in 2022[363] Interest Rate Sensitivity and Risk Management - The company's internal policy limit for net interest revenue variation due to a 200 basis point parallel change in market interest rates over twelve months is a maximum decline of 6.5%[371] - Anticipated impact over the next twelve months on net interest revenue: 200 bp increase results in $36.1 million, while a 100 bp increase results in $8.9 million. A 200 bp decrease results in $2.9 million, and a 100 bp decrease results in $7.9 million[373] - Anticipated impact over months twelve through twenty-four: A 200 bp increase results in $10.98 million, while a 100 bp increase results in $8.44 million. A 200 bp decrease results in $73.77 million, and a 100 bp decrease results in $42.66 million[373] - The Board has approved a $7 million market risk limit for the mortgage production pipeline, net of forward sale contracts[376] - The Board has approved a $20 million market risk limit for mortgage servicing rights, net of economic hedges[400] - MSR Asset sensitivity: Up 50 bp results in $7.97 million, while Down 50 bp results in -$9.88 million for 2023. For 2022, Up 50 bp results in $6.1 million, and Down 50 bp results in -$8.2 million[401] - MSR Hedge sensitivity: Up 50 bp results in -$8.44 million, while Down 50 bp results in $8.61 million for 2023. For 2022, Up 50 bp results in -$7.4 million, and Down 50 bp results in $6.81 million[401] - Net Exposure sensitivity: Up 50 bp results in -$470,000, while Down 50 bp results in -$1.27 million for 2023. For 2022, Up 50 bp results in -$1.3 million, and Down 50 bp results in -$1.39 million[401] - The Company conducts sensitivity analysis by shocking interest rates up and down 50 basis points to measure market risk[407] Market Risk and VaR Metrics - The Company calculates VaR using a historical simulation approach with a 10-day holding period and a 99% confidence level[378] - SVaR is calculated over a ten-day holding period at a one-tail, 99% confidence level using a historical simulation approach based on a continuous twelve-month historical window[379] - The average 10-day 99% VaR for the trading portfolio was $4,757 thousand in Q4 2023, compared to $5,954 thousand in Q3 2023 and $3,927 thousand in Q4 2022[406] - The period-end 10-day 99% VaR decreased to $2,977 thousand in Q4 2023 from $6,455 thousand in Q3 2023, primarily due to reduced interest rate risk exposure[405][406] - The average 10-day 99% SVaR for the trading portfolio was $8,154 thousand in Q4 2023, compared to $6,118 thousand in Q3 2023 and $7,091 thousand in Q4 2022[406] - The period-end 10-day 99% SVaR decreased to $4,925 thousand in Q4 2023 from $6,455 thousand in Q3 2023[406] - The Board approved an $11 million interest rate risk limit for the trading portfolio, net of economic hedges[407] Model Risk Management and Validation - The Company regularly updates historical data used by the VaR model and performs independent model validations to ensure accuracy[406] - Model Risk Management staff enforces a governance program that includes remediation actions and restrictions on model usage[408] - Models are validated through an evaluation process assessing data, theory, implementation, outcomes, and governance, with results categorized as "Approved for use," "Approved with findings," or "Unapproved"[409] - Model validation staff maintain independence from both developers and users of the models[409] Repossessed Assets and Share Repurchases - Real estate and other repossessed assets totaled $2.9 million at December 31, 2023, a decrease of $11 million compared to December 31, 2022[347] - The Company repurchased 2,113,808 shares during 2023 at an average price of $82.85 per share[358] LIBOR Transition and Vendor Reliance - The Company ceased production of new LIBOR-based exposure as of December 31, 2021 and now offers floating rate products in various alternative reference rates[343] - The Company is heavily reliant on a single vendor for information systems, communications, data management, and transaction processing[62] FDIC Special Assessment - The cost of resolving the recent bank failures has prompted the FDIC to issue a special assessment to recover costs to the Deposit Insurance Fund[59] Mortgage Risk Management - The Company uses forward sale contracts to mitigate market risk on all closed mortgage loans held for sale and on an estimate of mortgage loan commitments expected to result in closed loans[401]

Mastercard has launched an expanded payments partnership with Oklahoma’s BOK Financial.The collaboration, announced Tuesday (Jan. 30), makes Mastercard the exclusive payments network for BOK’s debit and commercial portfolios, and expands the company’s relationship with BOK’s TransFund processing businesses.“Both companies will build an innovative, inclusive, and sustainable future in banking, grounded in the shared values of advancing the communities they serve,” Mastercard said in a news release.According ...

BOK Financial Corporation’s (BOKF) fourth-quarter 2023 adjusted earnings per share of $1.78 beat the Zacks Consensus Estimate of $1.72. The bottom line compared unfavorably to the earnings of $2.51 per share a year ago.The results benefited from a rise in total fees and commissions and higher loans and deposit balances. Moreover, the provisions witnessed a significant decline. However, lower net interest revenues and elevated expenses were the major undermining factors.The results excluded the charges relat ...

BOK Financial Corporation (NASDAQ:BOKF) Q4 2023 Earnings Conference Call January 24, 2024 10:00 AM ET Company Participants Martin Grunst - 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 Jon Arfstrom - RBC Capital Markets Peter Winter - D.A. Davidson Ben Gerlinger - Citi Matt Olney - Stephens Inc. Will Jones - KBW Timur Braziler - Wells Fargo Securities ...

· Trailing 12 months net charge-offs at 8 basis points 30.0% 20.9% 19.1% 18.0% 20.0% 10.2% 10.0% —% 4Q17 4Q18 4Q23 4Q19 CRE Office by Location Fees & commissions Mortgage banking Net interest revenue Net Interest Margin Liquidity & capital Coverage Ratio ~179% • Uninsured deposit balances excluding collateralized and consolidated subsidiary balances were $12.9 billion, with BOKF's coverage ratio remaining stable at ~ 179% • CET1 including AOCI 10.5%* and both AOCI and HTM 10.2%* • Repurchased 700,237 shares ...

BOK Financial (BOKF) reported $501.56 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 8.8%. EPS of $1.78 for the same period compares to $2.51 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $485.87 million, representing a surprise of +3.23%. The company delivered an EPS surprise of +3.49%, with the consensus EPS estimate being $1.72.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- ...

Wall Street analysts forecast that BOK Financial (BOKF) will report quarterly earnings of $1.72 per share in its upcoming release, pointing to a year-over-year decline of 31.5%. It is anticipated that revenues will amount to $485.87 million, exhibiting a decline of 11.6% compared to the year-ago quarter.The current level reflects a downward revision of 1.8% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised ...

The market expects BOK Financial (BOKF) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be releas ...

Estimated uninsured deposits totaled $19.1 billion or 53 percent of our total deposits at September 30, 2023. In addition to insured deposits, we also hold $4.3 billion of collateralized deposits. Municipalities, Native American tribal governments and certain trustrelated deposits are all required to be collateralized. Excluding the impact of collateralized deposits and deposits related to consolidated subsidiaries, our uninsured and uncollateralized deposit level is $13.7 billion or 41 percent of total dep ...

BOK Financial Corporation (NASDAQ:BOKF) Q3 2023 Earnings Conference Call October 25, 2023 10:00 AM ET Company Participants Martin Grunst - CFO Stacy Kymes - CEO Marc Maun - EVP, Regional Banks Scott Grauer - EVP, Wealth Management Conference Call Participants Brady Gailey - KBW Peter Winter - D.A. Davidson Jon Arfstrom - RBC Capital Markets Brandon King - Truist Securities Matt Olney - Stephens Timur Braziler - Wells Fargo Securities Operator Greetings, and welcome to BOK Financial Corporation Third Quarter ...