BOK Financial(US:BOKF)2025-10-20 20:04Financial Performance - Net income for the third quarter of 2025 was $140.9 million, or $2.22 per diluted share, compared to $140.0 million, or $2.19 per diluted share in the prior quarter[1]. - Net interest income increased by $9.5 million to $337.6 million, with the net interest margin expanding to 2.91% from 2.80%[1][3]. - Fees and commissions revenue totaled $204.4 million, an increase of $7.1 million, driven by growth in investment banking revenue[1][7]. - Operating expenses increased by $15.3 million to $369.8 million, primarily due to higher personnel expenses[1][10]. - The company's common equity Tier 1 capital ratio was 13.60% at September 30, 2025, slightly up from 13.59% at June 30, 2025[24]. - Net income before taxes for the three months ended September 30, 2025, was $176,585, compared to $173,286 for the same period in 2024[46]. - Basic net income per share for the three months ended September 30, 2025, was $2.22, up from $2.18 in the same period last year[46]. - Total other operating revenue for the three months ended September 30, 2025, was $210,709, slightly up from $208,192 in the same period last year[46]. Loan and Deposit Growth - Loans grew by $573 million to $24.9 billion, with average outstanding loan balances increasing by $650 million[1][4]. - Period end deposits rose by $254 million to $38.5 billion, while average deposits increased by $345 million[1]. - Total deposits reached $38.5 billion, a $254 million increase, with time deposits up by $213 million and interest-bearing transaction accounts up by $139 million[22]. - The loan to deposit ratio was 65% at September 30, 2025, compared to 64% at June 30, 2025, indicating strong liquidity to meet future loan demand[21]. - Total loans for BOK Financial Corporation reached $24,865,194 thousand as of September 30, 2025, an increase of 2.36% from $24,292,211 thousand in June 30, 2025[56]. - Total deposits for BOK Financial Corporation reached $38,500,018 thousand as of September 30, 2025, an increase from $38,246,109 thousand in the previous quarter[59]. Asset Quality - Nonperforming assets declined to $74 million, or 0.30% of outstanding loans and repossessed assets, down from $81 million, or 0.33%[1]. - Nonperforming assets decreased to $74,145,000 from $81,056,000 in the previous quarter, representing a decline of 11.8%[61]. - Nonaccruing loans totaled $72,394,000, down from $79,327,000 in the prior quarter, a decrease of 8.4%[61]. - The allowance for loan losses to period end loans was 1.12%, slightly down from 1.14% in the previous quarter[62]. Capital and Equity - Total shareholders' equity increased to $6.0 billion from $5.9 billion in the previous quarter[44]. - Period end shareholders' equity increased to $6,022,535,000 in Q3 2025 from $5,890,888,000 in Q2 2025[48]. - The tangible common equity ratio increased to 10.06% in Q3 2025, up from 9.22% in Q3 2024, reflecting enhanced capital strength[50]. Regional Performance - In Texas, total loans amounted to $9,945,743 thousand, reflecting a slight increase from $9,887,185 thousand in June 30, 2025[57]. - Oklahoma's total loans increased to $7,193,630 thousand, up 7.48% from $6,693,091 thousand in the previous quarter[57]. - Total Texas deposits increased to $9,418,629 thousand, up from $9,079,417 thousand in the previous quarter, reflecting strong growth in this region[58]. Efficiency and Profitability - The efficiency ratio for Q3 2025 was 66.66%, compared to 65.42% in Q2 2025, indicating a slight decline in operational efficiency[48]. - Return on average assets for Q3 2025 was 1.08%, slightly up from 1.07% in Q2 2025[48]. - Return on average tangible common equity was 11.46% in Q3 2025, compared to 12.80% in Q3 2024, showing a decrease in profitability[50]. Mortgage and Wealth Management - Mortgage production revenue for Q3 2025 was $2,370,000, an increase from $1,563,000 in Q3 2024, representing a year-over-year growth of 51.7%[49]. - Assets under management or administration in Wealth Management reached $122.7 billion, an increase of $4.8 billion, or 4%[39]. - Average loans in Wealth Management increased to $2,353,961,000, a rise of 3.5% from the previous quarter[63].